1. Same story, different day...........year ie more of the same fiat floods the world
    Dismiss Notice
  2. There are no markets
    Dismiss Notice
  3. Week of 6/24/2017 Closing prices & Chg Over Last Wk---- Gold $1256.40 Silver $16.64 Oil $43.01 USD $96.94
  4. "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"
    Dismiss Notice

Business News & Views - Metals, Markets, Shipping, Energy, More

Discussion in 'Coffee Shack (Daily News/Economy)' started by searcher, Aug 25, 2017.



  1. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    TBP - 10 Sunday Reads 11/12
    http://ritholtz.com/2017/11/sunday-reads-113/

    Naked Capitalism Links 11/12
    https://www.nakedcapitalism.com/2017/11/links-111217.html

    SA - Market News Live Feed 11/12
    https://seekingalpha.com/market-news

    ASR - Week Ahead Data and Policy 11/12
    https://www.anirudhsethireport.com/week-ahead-data-policy/

    AR - Sunday links: low volatility today 11/12
    https://abnormalreturns.com/2017/11/12/sunday-links-low-volatility-today/

    SA - Weighing The Week Ahead: Millennials And The Housing Rebound 11/12
    https://seekingalpha.com/article/4123771-weighing-week-ahead-millennials-housing-rebound
     
  2. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  3. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    Wealth Inequality - A Mutiny in the Making?
    Silver Fortune



    Published on Nov 12, 2017
    Is the West heading for a period similar to the Bolshevik Revolution 100 years ago, or the French Revolution? Has this wealth gap grown too large, and are there ways to fix this problem peacefully?

    Support this channel by using this promo code for a 10 oz. silver bar at spot from SD Bullion https://sdbullion.com/sf (You must be logged in for the code to work)
     
  4. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    Grubhub: Are They Redefining Labor Laws?
    RT America



    Published on Nov 12, 2017
    Farron Cousins, Executive Editor for The Trial Lawyer Magazine, talks with Mike about how Grubhub along with other app-based companies argue in court that the people they hire are not employees.

    FOLLOW Mike Papantonio on Twitter: https://twitter.com/americaslawyer
    FOLLOW America’s Lawyer on Facebook: http://www.facebook.com/rtamericaslawyer
     
  5. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  6. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    Gold Seeker Closing Report: Gold and Silver Gain With Stocks
    By: Chris Mullen, Gold Seeker Report
    Gold gained $3.50 to $1279.40 in London before it dropped back towards unchanged in early New York trade, but it then climbed to a new session high at $1279.70 by late morning and ended with a gain of 0.13%. Silver rose to as high as $17.068 and ended with a gain of 0.83%.
     
  7. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    TVR [#433] 11-13-2017 END OF DAY REPORT
    ALGO CAPITALIST



    Published on Nov 13, 2017
    Please remember to RATE, SHARE, FAVORITE, COMMENT AND SUBSCRIBE.
     
  8. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  9. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    Asian Metals Market Update: November-14-2017
    By: Chintan Karnani, Insignia Consultants
    Political developments in the UK will be the key for gold prices. It seems NATO politicians are getting into the habit of blaming the Russians for their election losses. These are just baby steps towards a long term full-fledged armed conflict. Theresa May blaming Russians for her political misery is just another failed diversionary political tactic. The UK has more Asians. Asians are not idiots like Americans where Russian ghost works in everything.
     
  10. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  11. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    RUN! BITCONNECT & USI TECH SCAMS! PONZI ALERT
    Junius Maltby



    Published on Nov 14, 2017
    Run! BIT CONNECT AND USI TECH ARE SCAMS - RUN!!
    NEWS - OPEN FOR THE LINKS:
    My BTC Wallet: 189oA75Fma4jNAkcDetQX6YQpsBDktH9Wm
    Bitcoin Cash: 1B12a2S9nmmdaWYkrTeZEzyeaXGsqzd2aR
    SUPPORT: https://www.patreon.com/JuniusMaltby
    Channel Coin: https://qualitysilverbullion.com/prod...

    **FAIR USE STATEMENT**
    This video may contain copyrighted material the use of which has not been specifically authorized by the copyright owner. This material is being made available within this transformative or derivative work for the purpose of education, commentary and criticism, is being distributed without profit, and is believed to be "fair use" in accordance with Title 17 U.S.C. Section 107.

    For more information go to: http://www.law.cornell.edu/uscode/17/
    https://themerkle.com/is-usi-tech-ano...
    https://cryptovest.com/news/vitalik-b...
    https://news.bitcoin.com/guide-avoidi...
    https://www.vanguardngr.com/2017/11/i...
    http://ethanvanderbuilt.com/2017/07/1...
    https://www.forbes.com/sites/johnwasi...
     
  12. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  13. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  14. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    Asian Metals Market Update: November-15-2017
    By: Chintan Karnani, Insignia Consultants
    Price moves in metals and currencies suggest funds are churning their portfolio for the year and first quarter of next year. The Eurozone economy is expected to continue with its favorable growth rates at least till the first quarter of next year. Migrants are now the backbone to rise in consumption in Eurozone. Eurozone members are distributing free money to migrants for higher growth and cheap labour.
     
  15. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    U.S. SHALE OIL PRODUCTION UPDATE: Financial Carnage Continues To Gut Industry



    -- Published: Wednesday, 15 November 2017

    By Steve St. Angelo

    As the Mainstream media reports about the next phase of the glorious U.S. Shale Oil Revolution, the financial carnage continues to gut the industry deep down inside the entrails of its horizontal laterals. The stench of fracking fluid must be driving shale oil advocates utterly insane as they are no longer able to see financial wreckage taking place in these companies quarterly reports.

    This weekend, one of my readers sent me the following Bloomberg 45 minute TV special titled, The Next Shale Revolution. If you are in need of a good laugh, I highly recommend watching part of the video. At the beginning of the video, it starts off with President Trump stating that the U.S. has become an energy exporter for the first time ever. Trump goes on to say, “that powered by new innovation and technology, we are now on the cusp of a new energy revolution.” While I have to applaud Trump’s efforts for putting out some positive and reassuring news, I wonder who is providing him with terribly inaccurate energy information.

    I would kindly like to remind the reader; the United States is still a NET IMPORTER of oil. We still import nearly six million barrels of oil per day, but we export some finished products and a percentage of our shale oil production. Thus, we still import a net of approximately three million barrels per day of oil.

    A few minutes into the Bloomberg video, both Pioneer Resources Chairman, Scott Sheffield, and Continental Resources CEO, Harold Hamm, explain how advanced technology will revolutionize the shale oil industry and bring down costs. I find that statement quite hilarious as Continental Resources and Pioneer continue to spend more money drilling for oil and gas then they make from their operations. As I stated in a previous article, Continental Resources long-term debt ballooned from $165 million in 2007 to $6.5 billion currently. So, how did advanced technology lower costs when Continental now has accumulated debt up to its eyeballs?

    Of course… it didn’t. Debt increased on Continental Resources balance sheet because shale oil production wasn’t profitable… even at $100 a barrel. So, now the investor who purchased Continental bonds and debt are the Bag Holders.

    Regardless, while U.S. oil production continues to increase at a moderate pace, there are some troubling signs in one of the country’s largest shale oil fields.

    Shale Oil Production At the Mighty Eagle Ford Stagnates As Companies’ Financial Losses Mount
    It was just a few short years ago that the energy industry was bragging about the tremendous growth of shale oil production at the mighty Eagle Ford Region in Texas. At the beginning of 2015, Eagle Ford oil production peaked at a record 1.7 million barrels per day (mbd). Currently, it is nearly 500,000 barrels per day lower. According to the EIA – U.S Energy Information Agency’s most recently released Drilling Productivity Report, oil production in the Eagle Ford is forecasted to grow by ZERO barrels in December:

    [​IMG]

    The chart above suggests that the companies drilling and producing oil in the Eagle Ford spent one hell of a lot of money, just to keep production flat. Even though the shale oil producers were able to bring on 88,000 barrels per day of new oil, the field lost 88,000 barrels per day due to legacy declines. We need not take out a calculator to understand production growth at the Eagle Ford is a BIG PHAT ZERO.

    Here are the five largest shale oil and gas producers in the Eagle Ford where:
    1. EOG Resources
    2. ConocoPhillips
    3. BHP Billiton
    4. Chesapeake Energy
    5. Marathon Oil
    The company that doesn’t quite fit in the energy group above is BHP Billiton. BHP Billiton is one of the largest base metal mining companies in the world. Unfortunately for BHP Billiton, the company decided to get into U.S. Shale at the worst possible time. BHP Billiton bought shale oil properties when prices were high and eventually had to liquidate when prices were low. A Rookie mistake made by supposed professionals. I wrote about this in my article; DOMINOES BEGIN TO FALL: BHP Chairman Says $20 Billion Shale Investment “MISTAKE.”

    I decided to take a look at the current financial reports published by the five companies listed above. The largest player in the Eagle Ford is EOG Resources. I went to YahooFinance and created the following Cash Flow table for EOG:

    [​IMG]

    In the latest quarter (Q3 2017), EOG reported $961 million in cash from operations. However, the company spent $1,094 million on capital (CAPEX) expenditures and another $96 million in shareholder dividends. Applying simple arithmetic, EOG spent $229 million more on CAPEX and dividends than it made from its operations. Maybe someone can tell me how advanced technology is bringing down the cost for EOG.

    The next largest player in the Eagle Ford is ConocoPhillips. If we look at ConocoPhillips net income at its different business segments, we can see that the company isn’t making any money producing oil and gas in the lower 48 states:

    [​IMG]

    While ConocoPhillips enjoyed a $103 million profit in Alaska, it suffered a $97 million loss in the lower 48 states. Thus, the third largest oil company in the U.S. isn’t making any money producing oil and gas in the majority of the country. According to the data, ConocoPhillips produced twice as much oil and gas in the lower 48 states then what they reported in Alaska, but the company still lost $97 million.

    The third largest company producing oil in the Eagle Ford is BHP Billiton. Instead of providing financial results, I thought this chart on BHP Billiton’s Return On Capital Employed was a better indicator of how bad their U.S. Shale assets were performing. If we look at the right-hand side of the chart, BHP Billiton’s shale oil resources have become one hell of a drag on the company’s asset portfolio:

    [​IMG]

    While BHP Billiton is enjoying a healthy positive Return On Capital Employed on most of its assets, shale oil resources are showing a negative return. Furthermore, the company makes a note to above stating, “Detailed plans to improve, optimize or EXIT.” I would bet my bottom Silver Dollar that their decision will end up “EXITING” the wonderful world of shale energy, with the sale of their assets for pennies on the dollar.

    Moving down the list to the next shale company, we come to Chesapeake. While Chesapeake is the country’s second-largest natural gas producer, the company has been losing money for more than a decade. Unfortunately, the situation hasn’t improved for Chesapeake as its current financial statement reveals the company continues to burn through cash to produce its oil and gas:

    [​IMG]

    Chesapeake’s net cash provided by its operating activities equaled $273 million for the first three-quarters of 2017. However, the company spent a whopping $1,597 million on drilling and completion costs (CAPEX). Thus, Chesapeake spent $1.3 billion more on producing its oil and natural gas Q1-Q3 2017 than it made from its operations. Again, how is advanced technology making shale oil and gas more profitable?

    If it weren’t for the asset sale of $1,193 million, Chesapeake would have needed to borrow that money to make up the difference. Regrettably, selling assets to fortify one’s balance sheet isn’t a long-term viable business model. There are only so many assets one can sell, and at some point, in the future, the market will realize those assets will have turned into worthless liabilities.

    Okay, we finally come to the fifth largest player in the Eagle Ford…. Marathon Oil. The situation at Marathon isn’t any better than the other companies drilling and producing oil in the Eagle Ford. According to the companies third-quarter report, Marathon suffered a $600 million net income loss:

    [​IMG]

    Again, we have another example of an energy company losing a lot of money producing shale oil and gas. You will notice how high Marathon’s Depreciation, depletion, and amortization are in both the third-quarter and nine months ending on Sept 30th. While some may believe this is just a tax write off for the company… it isn’t. Due to the massive decline rate in producing shale oil and gas, PLEASE SEE the FIRST CHART ABOVE on the EAGLE FORD GROWTH OF ZERO, these companies have to write off these assets as it represents the BURNING of CASH.

    For example, Marathon reported cash from operations of $1,487 million for Q3 2017. However, it spent $1,305 million on CAPEX and $128 million on dividends for a total of $1,433 million. Thus, Marathon actually enjoyed a small $53 million in positive free cash flow once dividends were deducted. But, that is only part of the story. If we go back to 2005 when the oil price as about the same as it is today, Marathon was reporting quarterly profits, not losses.

    In the first quarter of 2005, Marathon earned a positive $324 million in net income. It also reported a $258 million net income gain in 2004, even at a much lower oil price of $38 a barrel versus the $48-$50 during Q3 2017. So, the Falling EROI – Energy Returned On Invested is killing the profitability of shale oil and gas companies today, whereas they were making profits just a decade ago.

    Now, I didn’t provide any data on the other shale oil fields in the U.S., but production continues to increase in several regions, especially in the Permian. However, one of the largest players in the Permian, Pioneer Resources, isn’t making any money either. If we look at their financials, we can see that Pioneer continues to spend more money on CAPEX than they are receiving from cash from operations:

    [​IMG]

    In all three quarters in 2017, Pioneer spent more money on capital expenditures than it made from its operating activities. Pioneer spent $400 million more on CAPEX spending than from its operations for the first nine months of 2017 ending on Sept 30th. So, here is just another example of a U.S. shale oil producer who partly responsible for the rising production in the Permian, but it still isn’t making any money.

    Now, some investors or readers on my blog would say that the situation will get better when the oil price continues towards $60, $70 and then $80 a barrel. Well, that would be nice, but I believe we are heading towards one hell of a market crash. Even though some economic indicators are looking rosy, this market is being propped up by a massive amount of debt and the largest SHORT VIX trade in history. When the markets start to go south as the massive VIX TRADE reverses… well, watch out below.

    Thus, as the markets crash, the oil price will head down with it. Unfortunately, this will be the final blow to the U.S. Shale Oil Ponzi Scheme and with it… the notion of Energy Independence forever.

    Check back for new articles and updates at the SRSrocco Report.

    http://news.goldseek.com/GoldSeek/1510754580.php
     
  16. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  17. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    Bitconnect COLLAPSE MODE - Ponzi Scheme, say buh bye $
    Junius Maltby



    Published on Nov 15, 2017
    He likes rap so I wrote him one:
    Bitconnect is in collapse mode.
    Fools running for the exits tryin to scape the abode -
    You want to get rich quick? Try reaching into your commode.
    Multi-level marketing, Ponzi Scheme
    I thought building Pyramids was just an Egyptian thing?

    It's Cryptos run by Kleptos
    shady thieves working digits in codes.
    Your money is gone son and you ain't the only one.
    Ghost, vanished, disappeared -
    that cash was transferred, steered and cleared.

    Look into your wallet, look into the mirror
    A fool and his money are soon parted is that clearer?
    The red flags were up while you danced like a fool,
    Shoulda heeded muh words instead you were just another tool.

    You think playin in the blockchain has you woke -
    nah you're just pretending while you goin broke.
    You're sitting at a table of black jack, hoping for 21
    when 3 hours ago the game was done and the house won.

    Beat it, hit the streets, roll up in your sleeping bag under a bridge and go to sleep.
    Every bums got a story, so start writing your book
    About how you put your money in to bitconnect and it all got took.

    https://btcmanager.com/writings-wall-...
    https://thenextweb.com/hardfork/2017/...

    My BTC Wallet: 189oA75Fma4jNAkcDetQX6YQpsBDktH9Wm
    Bitcoin Cash: 1B12a2S9nmmdaWYkrTeZEzyeaXGsqzd2aR
    SUPPORT: https://www.patreon.com/JuniusMaltby
    Channel Coin: https://qualitysilverbullion.com/prod...

    **FAIR USE STATEMENT**
    This video may contain copyrighted material the use of which has not been specifically authorized by the copyright owner. This material is being made available within this transformative or derivative work for the purpose of education, commentary and criticism, is being distributed without profit, and is believed to be "fair use" in accordance with Title 17 U.S.C. Section 107.

    For more information go to: http://www.law.cornell.edu/uscode/17/
     
  18. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    Gold & Silver Positioned to Move, Bullionvault Refuses Bitcoin, Turkey Stacking GOLD
    Junius Maltby



    Published on Nov 15, 2017
    Daily news on the Junius Maltby Channel. Thanks for joining us as we take a look at gold, silver, recent events and cryptos. Gold and Silver look like they are taking a firm position to move higher, Bullionvault refuses BTC (I'm ok with that), and Turkey is gobbling up the Au.

    My BTC Wallet: 189oA75Fma4jNAkcDetQX6YQpsBDktH9Wm
    Bitcoin Cash: 1B12a2S9nmmdaWYkrTeZEzyeaXGsqzd2aR
    SUPPORT: https://www.patreon.com/JuniusMaltby
    Channel Coin: https://qualitysilverbullion.com/prod...

    **FAIR USE STATEMENT**
    This video may contain copyrighted material the use of which has not been specifically authorized by the copyright owner. This material is being made available within this transformative or derivative work for the purpose of education, commentary and criticism, is being distributed without profit, and is believed to be "fair use" in accordance with Title 17 U.S.C. Section 107.

    For more information go to: http://www.law.cornell.edu/uscode/17/
     
  19. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  20. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  21. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  22. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  23. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  24. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  25. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  26. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    Silver Supply Concerns, Venezuela Default Update
    Junius Maltby



    Published on Nov 16, 2017
    Silver production so far this year is down 9,000,000 ounces with a high probability that by the end of the year Q4 it will be a much greater number. With supply also rumored to be dropping in China - it will be interesting to see the price of Silver react going into the new year. Update on the Venezuela situation as well. Thanks for tuning in to the Junius Maltby Channel.
    My BTC Wallet: 189oA75Fma4jNAkcDetQX6YQpsBDktH9Wm
    Bitcoin Cash: 1B12a2S9nmmdaWYkrTeZEzyeaXGsqzd2aR
    SUPPORT: https://www.patreon.com/JuniusMaltby

    Channel Coin: https://qualitysilverbullion.com/prod...

    **FAIR USE STATEMENT**
    This video may contain copyrighted material the use of which has not been specifically authorized by the copyright owner. This material is being made available within this transformative or derivative work for the purpose of education, commentary and criticism, is being distributed without profit, and is believed to be "fair use" in accordance with Title 17 U.S.C. Section 107.

    For more information go to: http://www.law.cornell.edu/uscode/17/
     
  27. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    IRS DEMANDS COINBASE RECORDS ON BITCOIN USERS
    Junius Maltby



    Published on Nov 16, 2017
    The IRS is coming for you, your money, your work, your effort, your risk, they are your silent partner, hand ever outstretched to share in your gains and never to be seen when you suffer your losses. Pay the man. Render unto Caesar that which is Caesars, shell out your protection money to the Mafia - the criminal that runs your block. Pay up or shut up. Junius Maltby channel is now.
    My BTC Wallet: 189oA75Fma4jNAkcDetQX6YQpsBDktH9Wm
    Bitcoin Cash: 1B12a2S9nmmdaWYkrTeZEzyeaXGsqzd2aR
    SUPPORT: https://www.patreon.com/JuniusMaltby

    Channel Coin: https://qualitysilverbullion.com/prod...

    **FAIR USE STATEMENT**
    This video may contain copyrighted material the use of which has not been specifically authorized by the copyright owner. This material is being made available within this transformative or derivative work for the purpose of education, commentary and criticism, is being distributed without profit, and is believed to be "fair use" in accordance with Title 17 U.S.C. Section 107.

    For more information go to: http://www.law.cornell.edu/uscode/17/
     
  28. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  29. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    TVR [#434] 11-16-2017 CRYPTO CURRENCIES AND GLOBAL RISK
    ALGO CAPITALIST



    Published on Nov 16, 2017
    Please remember to RATE, SHARE, FAVORITE, COMMENT AND SUBSCRIBE.
     
  30. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  31. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    Mueller Subpoena Spooks Dollar, Sends European Stocks, US Futures Lower

    [​IMG]
    by Tyler Durden
    Nov 17, 2017 7:04 AM


    Yesterday's torrid, broad-based rally looked set to continue overnight until early in the Japanese session, when the USD tumbled and dragged down with it the USDJPY, Nikkei, and US futures following a WSJ report that Robert Mueller had issued a subpoena to more than a dozen top Trump administration officials in mid October.

    And as traders sit at their desks on Friday, U.S. index futures point to a lower open as European stocks fall, struggling to follow Asian equities higher as the euro strengthened at the end of a tumultuous week. Chinese stocks dropped while Indian shares and the rupee gain on Moody’s upgrade. The MSCI world equity index was up 0.1% on the day, but was heading for a 0.1% fall on the week. The dollar declined against most major peers, while Treasury yields dropped and oil rose.

    Europe's Stoxx 600 Index fluctuated before turning lower as much as 0.3% in brisk volumes, dropping towards the 200-DMA, although about 1% above Wednesday’s intraday low; weakness was observed in retail, mining, utilities sectors. In the past two weeks, the basic resources sector index is down 6%, oil & gas down 5.8%, autos down 4.9%, retail down 3.4%; while real estate is the only sector in green, up 0.1%. The Stoxx 600 is on track to record a weekly loss of 1.3%, adding to last week’s sell-off amid sharp rebound in euro, global equity pullback. The Euro climbed for the first time in three days after ECB President Mario Draghi said he was optimistic for wage growth in the region, although stressed the need for patience, speaking in Frankfurt. European bonds were mixed. The pound pared some of its earlier gains after comments from Brexit Secretary David Davis signaling a continued stand-off in negotiations with the European Union.

    In Asia, the Nikkei 225 took its time to catch up to the WSJ report that US Special Counsel Mueller has issued a Subpoena for Russia-related documents from Trump campaign officials, although reports pointing to North Korea conducting 'aggressive' work on the construction of a ballistic missile submarine helped the selloff. The Japanese blue-chip index rose as much as 1.8% in early dealing, but the broad-based dollar retreat led to the index unwinding the bulk of its gains; the index finished the session up 0.2% as the yen jumped to the strongest in four-weeks. Australia’s ASX 200 added 0.2% with IT, healthcare and telecoms leading the way, as utilities lagged. Mainland Chinese stocks fell, with the Shanghai Comp down circa 0.5% as the PBoC’s reversel in liquidity injections (overnight net drain of 10bn yuan) did little to boost risk appetite, as Kweichou Moutai (viewed as a bellwether among Chinese blue chips) fell sharply. This left the index facing its biggest weekly loss in 3 months, while the Hang Seng rallied with IT leading the way higher. Indian stocks and the currency advanced after Moody’s Investors Service raised the nation’s credit rating.

    The dollar was pressured even as tax reform moved a step forward given Trump-Russia probe came back into focus. Two-year Treasury yield hit a fresh high and bonds slipped. The euro stayed on course to its best week in two months as Draghi remains bullish on prospects of higher wages; the kiwi hit its lowest level since June 2016.

    Meanwhile, the U.S. Treasury yield curve remained on investors’ radar, reaching its flattest levels in a decade, reflecting a belief that the Federal Reserve will continue to raise interest rates.

    The U.S. House of Representatives passed a tax overhaul expected to boost share prices if it becomes law. The legislative battle now shifts to the Senate. As Bloomberg notes, as "Washington took one step closer to tax reform and China’s central bank injected the most cash since January into its financial system this week, investors have been trying to decide if resilient global growth and strong earnings forecasts warrant sticking it out in equities. Lofty valuations contributed to fund managers paring back some exposure after global shares reached record highs earlier this month."

    [​IMG]

    As earnings season drew to a close with 90 percent of U.S. and European companies having reported, analysts said results were supportive but weaker than the previous quarters. “While they look good overall, the strong momentum apparent since Q1 is now fading,” said Societe Generale analysts, adding that consensus earnings estimates are no longer being raised for U.S. or euro zone stocks.

    As also reported on Thursday, Fed's Williams suggested that central banks should consider unconventional policy tools for use in the future, including higher inflation targets and income targeting. Williams also suggested that negative rates need to be on list of potential tools if the US enters a recession, even as he said that a December hike, followed by 3 hikes in 2018 is perfectly reasonable. "What really matters is gradual normalisation not timing, should raise rates to around 2.5% in the next couple of years" he said adding that "Low inflation in a way is lucky as it allows strong growth, however, if it does not pick up over the next few years he will re-think the rate path."

    Oil prices were on track for weekly losses, slipping from two-year highs hit last week on signs that U.S. supply is rising and could potentially undermine OPEC’s efforts to tighten the market. U.S. light crude stood at $55.53 a barrel, up 0.7 percent on the day but still within its trading range in the past couple of days. It was down 2.1 percent on the week. Brent futures hit a two-week low of $61.08 a barrel but last stood 0.3 percent higher at $61.53. It was down 3.1 percent for the week.

    Economic data today includes housing starts, building permits.

    Market Snapshot
    • S&P 500 futures down 0.1% to 2,583.25
    • STOXX Europe 600 down 0.2% to 384.06
    • MSCI Asia up 0.4% to 170.15
    • MSCI Asia ex Japan up 0.5% to 558.90
    • Nikkei up 0.2% to 22,396.80
    • Topix up 0.1% to 1,763.76
    • Hang Seng Index up 0.6% to 29,199.04
    • Shanghai Composite down 0.5% to 3,382.91
    • Sensex up 0.8% to 33,377.55
    • Australia S&P/ASX 200 up 0.2% to 5,957.25
    • Kospi down 0.03% to 2,533.99
    • German 10Y yield rose 1.1 bps to 0.387%
    • Euro up 0.2% to $1.1795
    • Brent Futures up 0.7% to $61.78/bbl
    • Italian 10Y yield rose 0.2 bps to 1.572%
    • Spanish 10Y yield rose 0.6 bps to 1.548%
    • Brent Futures up 0.7% to $61.78/bbl
    • Gold spot up 0.3% to $1,282.59
    • U.S. Dollar Index down 0.3% to 93.69

    Top Overnight News
    • House Republicans pass tax bill, while Senate Finance Committee approves different version
    • Special Counsel Robert Mueller is said to have served President Donald Trump’s election campaign a subpoena in mid-October seeking documents related to Russia contacts
    • ECB President Mario Draghi said he was confident for wage growth in the euro area
    • While U.K. Brexit Secretary David Davis said there would be some clarity on the Britain’s divorce bill with the European Union in a “a few more weeks,” there are signs that talks with EU leaders are in a new stand-off
    • Japanese PM Shinzo Abe says he will push through initiatives to boost productivity and compile a new economic policy package next month
    • Canada is open to a Mexican proposal to review the North American Free Trade Agreement every five years instead of ending the deal automatically if not renegotiated, which the U.S. had demanded, Reuters reports, citing two unidentified government sources
    • Senate Panel Approves Tax Plan as GOP Leaders Gird for Battle
    • Murdoch Has His Pick of Suitors as He Ponders Fox’s Fate; Sky Rises Most Since June on Interest From Comcast, Verizon
    • Chinese Stocks Tumble as State Media Warning Triggers Selloff
    • India’s First Moody’s Upgrade in 14 Years Bets on Reforms
    • Draghi Says Confidence on Inflation Will Help Drive Wage Gains
    • China Issues Draft Rules to Curb Asset Management Product Risks
    • Bitcoin Flirts With Record $8,000 High, Leaving Sell-Off Behind
    • PDVSA Looks Like a ‘Zero’ to Man Who Ran Elliott’s Argentina Bet
    • Manafort Spent Millions on Home Updates But Numbers Don’t Add Up
    • Tesla Seals Order From Michigan Grocery Chain for Semi Trucks
    • Luxoft Holding Second Quarter Adjusted EPS Beats Estimates
    • JPMorgan’s Gu Sees ‘Very Robust’ Pipeline for Hong Kong IPOs
    In Asia, the Nikkei 225 took its time to catch up to a report suggesting that US Special Counsel Mueller has issued a Subpoena for Russia-related documents from Trump campaign officials, although reports pointing to North Korea conducting 'aggressive' work on the construction of a ballistic missile submarine probably helped the selloff. The Japanese blue-chip index rose as much as 1.8% in early dealing, but the broad-based dollar retreat led to the index unwinding the bulk of its gains; the index finished the session up 0.2%. Australia’s ASX 200 added 0.2% with IT, healthcare and telecoms leading the way, as utilities lagged. Mainland Chinese stocks fell, with the Shanghai Comp down circa 0.4% as the PBoC’s injections have done little to underscore risk appetite, as Kweichou Moutai (viewed as a bellwether among Chinese blue chips) fell sharply. This left the index facing its biggest weekly loss in 3 months, while the Hang Seng rallied with IT leading the way higher. The PBoC injected a net CNY 810bln this week, against a net drain of CNY 230bln last week. Japanese PM Abe promised to rid the country of deflation once and for all. He pledged to use all policy tools, including tax reforms and deregulation, to push up wages in order to put an end to the country's persistent deflation he also noted that he wants to increase pressure on North Korea along with the international community. Japanese Finance Minister Aso stated that Japan is to continue to firmly escape deflation. South Korea's FX authority warned that the pace of the KRW's gains has been fast. A BoK official warned that the KRW has appreciated fast in a short time, and reiterates that FX authorities are monitoring the situation. Moody’s raised India's sovereign rating to Baa2 from Baa3, outlook to stable from positive.

    Top Asian News
    • India Rating Raised by Moody’s as Reforms Boost Growth Potential
    • China to Rein Risks in Asset Management Industry
    • China Warning Wipes $6 Billion From Stock Loved by Goldman
    • Erdogan Says Turkey Has Withdrawn Troops From NATO Exercise
    • China Stocks Cap Worst Week Since August as Moutai Battered
    European bourses trading modestly lower this morning, with downbeat earnings weighing sentiment, while the spill-over from a soft Asian session has dented risk in Europe. Vivendi shares had been lower as much as 2% after a weak earnings update. FTSE 100 slipping slight amid the strength in GBP, which is back above 1.32 against the greenback. Comments from ECB’s Draghi have sparked some additional movement, as while largely sticking to the post-October 26 policy meeting presser he appeared more confident about the growth and inflation outlook (economic activity more self-propelling, underlying inflation to converge with headline etc). Hence, a decline in Bunds below parity to a 162.50 low, but again not yet posing a real threat to more substantial downside targets/supports. Market contacts suggest that 162.48 needs to be breached from an intraday chart perspective to bring Thursday’s 162.38 Eurex base into contention, and recall there are more/bigger stops anticipated below 162.36. On the upside, assuming 162.48 holds, yesterday’s 162.82 session high is the first proper line of resistance. Gilts have also retreated into negative territory alongside Bunds and USTs, to 124.45 vs 124.77 at best and their 124.72 previous settlement.

    Top European News
    • We’ll Wait for U.K. Brexit Concessions, EU Leaders Tell May
    • From EON to Fortum: How to Save Nasdaq’s Fading Power Market
    • Carige Talks With Underwriters Continue as Deadline Looms
    • Elior Plunges Most on Record as Hurricane Irma Wrecks Party
    • Norway Idea to Exit Oil Stocks Is ‘Shot Heard Around the World’
    In FX, the USD is down again, but off worst levels seen so far this week as the Index holds within a 93.500-93.900 broad range. Some respite for Dollar from progress on the tax reform bill, but another Russian-related probe into Trump’s election campaign has capped the upside. The Euro was underpinned by upbeat comments from ECB President Draghi, and holding close to 1.1800 vs the Usd. Hefty option expiries still in play from 1.1790-1.1800 through 1.18250 and up to 1.1840-50. The Yen regaining a safe-haven bid amid the latest US political challenge against the President, with Usd/Jpy down to new multi-week
    lows sub-112.50. AUD/NZD is the biggest G10 losers on broad risk-off sentiment and the recovering Greenback, with Aud/Usd back below 0.7600 and Nzd/Usd even weaker under the 0.6800 handle. Note, cross flow also weakening the Kiwi as Aud/Nzd trades back at 1.1100+ levels.

    In commodities, Brent and WTI crude futures trading higher by 0.4% and 1.3% respectively, the latter making a break above yesterday’s at USD 55.59, however has met resistance at the USD 56 handle. Iraq/Kurd oil flow to Ceyhan rises to 254k bpd, according to Port Agent

    Looking at the day ahead, a slightly quieter end to the week although the ECB’s Draghi is due to give a keynote address on “Europe into a new era – how to seize the opportunities”. The Bundesbank’s Weidmann is also slated to speak while the Fed’s Williams speaks in the evening. US housing starts for October and the Kansas City Fed’s manufacturing activity index for November are the data highlights.

    US Event Calendar
    • 8:30am: Housing Starts, est. 1.19m, prior 1.13m; MoM, est. 5.59%, prior -4.7%
    • 8:30am: Building Permits, est. 1.25m, prior 1.22m; MoM, est. 2.04%, prior -4.5%
    • 10am: MBA Mortgage Foreclosures, prior 1.29%; Mortgage Delinquencies, prior 4.24%
    • 11am: Kansas City Fed Manf. Activity, est. 20.5, prior 23
    DB's Jim Reid concludes the overnight wrap

    Maybe the S&P 500 will be the new hard currency of the world as nothing seems to break it at the moment. After a very nervous last week (longer in HY and EM) for markets, the S&P 500 closed +0.82% last night (best day since September 11th) and for all the recent fury and angst is only 0.34% off its’ all-time closing high. The Nasdaq gained 1.30% to a fresh all time high and the Stoxx 600 was also up for the first time in eight days. The positive reaction seems to have started in Asia yesterday, in part as commodity prices stabilised somewhat and news that China’s PBoC injected cash with the largest reverse repo operation since January. Then US markets got an additional boost from Cisco guiding to its first revenue gain in eight quarters and Wal-Mart posting its strongest US sales in more than eight years. There was also a little sentiment boost from the House passing its tax bill.

    This morning in Asia, markets are strengthening further. The Nikkei (+0.11%), Hang Seng (+0.78%) and Kospi (+0.28%) are all modestly up while the Shanghai Comp. is down 0.55% as we type. Moody’s upgraded India’s sovereign bond rating for the first time since 2004. It’s one notch higher to Baa2/Stable (also one notch higher than S&P’s BBB-) with the agency citing ongoing progress in economic and institutional reforms. India’s 10y bond yields is down c10bp this morning to 6.96%. Elsewhere, UST 10y has partly reversed yesterday’s moves and is trading c2bp lower.

    Now back to US tax reforms, which is a small step closer to resolution. The House has voted (227-205) to pass its version of the tax reform bill despite 13 Republicans dissenting. President Trump tweeted “a big step toward fulfilling our promise to deliver historic tax cuts…by the end of the year”. Notably, the more challenging task may now begin in terms of passing the Senate’s version where fiscal constraints are tighter and the Republicans only have 52 of the 100 seats in the Chamber. Overnight, the Senate Finance Committee voted to approve its revised tax package, so a full chamber vote could come as early as the week after Thanksgiving. If passed, the two versions of the tax bill will need to be somehow reconciled. Our US economist believes there is a decent chance that some version of tax reform can be achieved, but this is likely to be a Q1 event with potential stumbling blocks along the way.

    Turning to the various Brexit headlines, PM May flew out last night to Sweden for an informal summit with European leaders seeking to kick start the stalled Brexit talks. She is expected to meet with the Swedish Premier and Irish counterpart before meeting with EU President Tusk on Friday. Following on, the Brexit Secretary Davis noted that we have to “wait a few more weeks” for clarity on how much UK is willing to pay in the divorce settlement. Elsewhere, Goldman Sachs CEO Blankfein tweeted “many (fellow business leaders) wish for a confirming vote on (Brexit)…so much at stake, why not make sure consensus still there?”

    Moving onto central bankers’ commentaries. In the US, the Fed’s Mester sounded reasonably balanced and remains supportive of continued gradual policy tightening. She noted “anecdotal feedback from business contacts suggest they are increasing wages”, but it’s going to be hard to see strong wage growth because productivity growth is low. Overall, she sees “good reasons” that inflation will rise back to 2% goal, but “it’s going to take a little longer…”

    The Fed’s Williams noted one more rate hike this year and three more in 2018 remains a “reasonable guess” subject to incoming data. Finally, the Fed’s Kaplan reiterated the Fed would continue to make progress towards achieving its 2% inflation target, but noted that the neutral fed funds rate is “not that far away”.

    In the UK, BOE Governor Carney reiterated that interest rates would probably rise “a couple of times over the next few years” if the economy evolved in line with the Bank’s projections, but also cautioned that the fundamental economic impacts of Brexit will only be “known over a very long period of time”. That said, he noted the BOE will remain nimble and support the economy no matter what the result of the Brexit negotiations will be. Elsewhere, Chancellor Hammond has confirmed that the Treasury does not plan to change the inflation gauge that the BOE targets from CPI to CPIH – which includes owner occupied housing costs and is the new preferred price measure by the Office for National Statistics.

    Now recapping other markets performance yesterday. Within the S&P, only the energy and utilities sector were modestly in the red (-0.58%), partly weighed down by Norway’s sovereign wealth fund plans to sell c$40bln of energy related stocks to make it less vulnerable to the sector. Elsewhere, gains were led by telco, consumer staples and tech stocks. European markets were all higher, with the DAX and CAC up c0.6% while the FTSE 100 was the relative underperformer at +0.19%. The VIX index dropped 10.4% to 11.76.

    Over in government bonds, UST 10y yields rose 5.3bp following the House’s approval of the tax plans and a solid beat for industrial production, while Gilts also rose 2.3bp, in part due to slightly stronger retail sales figures. Other core bond yields were little changed (10y Bunds flat, OATs -0.4bp), while Italian yields marginally underperformed (+0.5bp), partly reflecting that Banca Carige has failed to get banks to underwrite its planned share sale - making a bail in more likely, as well as recent polls (eg: Ipsos) showing the 5SM party taking a modest lead versus peers. Elsewhere, some of the recent pressure in the HY space appears to be reversing with the Crossover index 9.2bp tighter.

    Key currencies were little changed, with the US dollar index up 0.13% while Sterling gained 0.18% and Euro fell 0.18%. In commodities, WTI oil dipped 0.34% yesterday but is trading marginally higher this morning after Saudi Arabia reaffirmed its willingness to extend oil cuts at the November 30 OPEC meeting. Elsewhere, precious metals were slightly higher (Gold +0.03%; Silver +0.54%) while other base metals continue to softened, although losses are moderating (Copper -0.17%; Zinc -0.84%; Aluminium -0.35%).

    Away from the markets, our US economists have published their latest outlook for the US economy. They note the US economy is on good footing for continued above-trend growth in 2018 and beyond. Overall, they believe private sector fundamentals are broadly sound, the labour market has more than achieved full employment and financial conditions are highly supportive of growth. On real GDP growth, their forecast for 2018 is unchanged at 2.3%, but 2019 is up a tenth to 2.1% while growth in 2020 is expected to slow to 1.5% as monetary policy tightening gains traction. The Unemployment rate is expected to fall to 3.5% by early 2019, so although inflation should remain low through year-end, our team’s medium-term view that core inflation should normalise is intact. Hence, in terms of rates outlook, they still expect the next rate increase in December, followed by three hikes in 2018 and four more in 2019. Elsewhere, tax reform is a wild card, though it faces significant political challenges. Conversely, potential disruptions to trade policy would be a negative development. For more detail, refer to their note.

    Before we take a look at today’s calendar, we wrap up with other data releases from yesterday. In the US, the October IP was above expectations at 0.9% mom (vs. 0.5%) and 2.9% yoy – the highest since January 2015, in part as the post storm recovery efforts gets underway. Aggregate capacity utilization was also beat at 77% (vs. 76.3% expected) – highest since April 2015 and the NAHB housing market index was also above at 70 (vs. 67) – highest since March. Elsewhere, the November Philly Fed index was slightly below expectations but still solid at 22.7 (vs. 24.6 expected), with both the new orders and employment indices above 20. Finally, the weekly initial jobless claims was slightly higher (249k vs. 235k expected), perhaps impacted by the delayed filings following the storms and the Veteran’s day holiday, while continuing claims fell to a new 44 year low (1,860k vs. 1,900k expected).

    In the UK, core retail sales (ex-auto fuel) for October slightly beat expectations, at 0.1% mom (vs. flat expected) and -0.3% yoy (vs. -0.4% expected). In the Eurozone, the final reading for October CPI was unrevised at 0.1% mom and 1.4% yoy, but France’s 3Q unemployment was slightly higher than expected at 9.7% (vs. 9.5%).

    Looking at the day ahead, a slightly quieter end to the week although the ECB’s Draghi is due to give a keynote address on “Europe into a new era – how to seize the opportunities”. The Bundesbank’s Weidmann is also slated to speak while the Fed’s Williams speaks in the evening. US housing starts for October and the Kansas City Fed’s manufacturing activity index for November are the data highlights.

    http://www.zerohedge.com/news/2017-...dollar-sends-european-stocks-us-futures-lower
     
  32. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  33. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    Asian Metals Market Update: November-17-2017
    By: Chintan Karnani, Insignia Consultants
    Gold and silver are steady on increasing chances of the passage of the US tax cut bill. Resurgence in bitcoins and other crypto currencies is preventing investment interest in bullion. Short term hot money has moved to cryptos from bullion. The price moves in gold and silver are mainly dependent on physical demand and physical premiums in Asia.
     
  34. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    Rob From The Middle Class Economics


    -- Published: Friday, 17 November 2017

    By Gary Christenson


    Much of our financial world functions as a “Rob from the Middle Class” economy. The system robs from the middle class and poor via “money printing” and inflation of the currency supply!

    The rich get richer and the poor get poorer.

    Little benefit comes from complaining about the process or fighting it. Understand the process, work around it, and use it constructively.

    Explaining Our Rob from the Middle Class Economy:

    Governments, individuals, pension funds and corporations are increasingly financialized and dependent upon debt, central bank interventions and currency devaluations. Wages are less relevant in a financialized economy because wages rise slowly while debt, currency in circulation, and paper financial assets increase rapidly.

    Caution: Those rapidly rising stock prices can reverse even more rapidly.

    The Fed has your back if you are a member of the political and financial elite. The top few percent earn far more because of central bank “stimulus,” currency printing that levitates stock and bond markets and huge contracts from federal and state governments. This trend toward increasing the income and wealth of the financial elite has accelerated since 1980, as shown below.


    [​IMG]


    If you earn wages paid in debt based fiat dollars you know your expenses have increased more rapidly than your wages. Your purchasing power decreases because fiat currency units are devalued by the massive government and central bank “printing” of those currencies. Every newly created dollar (euro, pound, yen) devalues all existing currency units. Most prices rise but hourly wages stagnate.

    How can we measure these trends? (All data from the St. Louis Federal Reserve unless specified otherwise.)

    Graph the ratio of M3 (a measure of currency in circulation) to average hourly wages. The graph below shows M3 has grown more rapidly than hourly wages in the past 40 years. The extra currency in circulation has created higher prices for consumers and financial assets.


    [​IMG]



    Total Debt Securities in the U.S.:

    Graph the ratio of total debt securities as reported by the St. Louis Fed to hourly wages. The graph shows total debt has risen more rapidly than wages, even though wages are somewhat higher than three decades ago. Negative consequences occur, except for the financial elite, from “out-of-control” government spending, corporate buy backs with inexpensive debt, student loans, sub-prime auto loans and more.

    · Debt is leverage and financial crashes become more likely.

    · Debt must be repaid via devalued currencies or defaulted.

    · Debt requires interest payments.

    · Interest payments reduce future disposable income.

    · High debt and reduced disposable income lead to bankruptcies and a weaker economy.


    [​IMG]


    Wages grow slowly – about 4.2% per year since 1971. Wall Street average bonuses (source: Business Insider) have grown rapidly. Those who process paper and digital assets benefit from the financialization of the economy. The rich get richer … the poor and middle class get stagnating wages and higher prices.

    But, the middle class can protect their savings and purchasing power with gold and silver.


    [​IMG]


    Gold and silver should leap to mind because they are financial insurance and protection against continually devaluing fiat currencies. They insulate us from the “money printing” that leads to wealth inequality.


    [​IMG]


    The same is true for the S&P 500 Index and bonds. Currency units are created by commercial banks and central banks. Debt increases, and much of the newly created currency is directed into stocks and bonds, but not into higher wages for workers. The excess debt and currency in circulation levitates the stock market. Wall Street benefits while Main Street lags…


    [​IMG]


    More currency circulates each year. The U.S. government spends about $4 trillion each year – 20 times the value of the gold SUPPOSEDLY held in Fort Knox. Total government expenses rise faster than hourly wages. Wage earners and pensioners suffer from declining purchasing power in a financialized economy.


    [​IMG]


    Currency in circulation, debt, government expenditures, the stock market and Wall Street bonuses outpace hourly wages. The paper and digital portions of the economy benefit from government and central bank devaluation policies.

    Wages earners have received little from the massive spending and debt programs that levitated stock and bond markets and fed $ trillions to the military contractors, large pharmaceutical companies, Wall Street and other corporations that influence lawmakers.

    Other Examples: Cigarettes and gold

    The St. Louis Fed publishes data for the price of cigarettes and tobacco as an index. A ratio of the cigarette index to hourly wages shows that cigarettes are about three times more expensive today than 40 years ago when compared to hourly wages.


    [​IMG]


    The ratio of annual gold prices to hourly wages shows the bubble peak in 1980 and a smaller peak in 2011. Current gold prices are inexpensive compared to both hourly wages and total debt securities. (See below.)


    [​IMG]


    [​IMG]



    What do others say about wages?

    From Wolf Street: “The Chilling Fact”

    “We already found buried in it that inflation-adjusted earnings from wages, salaries, etc. for full-time employed men have fallen 4.4% since 1973.”

    “Inflation-adjusted” uses the official government massaged inflation data. The 4.4% DROP in wages is a politically motivated best case interpretation. Those who pay for groceries, prescription drugs, college tuition, Obamacare or rent know that official inflation statistics are “optimistic.”

    The bottom line is that wages are stagnant compared to the paper and digital portions of the economy.

    The rich get richer and the poor get poorer, as planned. The lowest “inflation-adjusted” incomes remain flat over time while the top 1%, top 5%, and top 20% have enjoyed large “inflation-adjusted” increases in their income. The top 1% benefit more from the stock market rally than the bottom 60% of households.


    [​IMG]


    COUNTER-PARTY RISK AND RESET:

    Neither gold nor silver are subject to counter-party risk. “If I don’t get paid, then I can’t honor my commitments to you,” is IRRELEVANT when your wealth is stored in physical gold and silver. The days of huge counter-party risk in the digital world, such as 2008, are likely to return soon.

    The stock markets are trading at all-time highs. In contrast, gold and silver are down 35% and 70% from their all-time highs. It is easy to “print” more digital currency units to boost stock prices. It is difficult to mine gold and silver. A reset to lower financial prices and higher gold and silver prices is inevitable.


    Action Needed: Create gold and silver backing for your savings, investments, and retirement!


    SUMMARY:

    · Central bank and commercial bank creation of new digital currency units have benefitted stocks, bonds, and those in the top 5% of income far more than those earning hourly wages or who survive in the bottom 80% of incomes. Every newly created currency unit devalues all existing currency units. We experience that as “stuff costs more.”


    · Total debt increases more rapidly than wages. Debt is rolled over and “paid” by issuing new debt. The dollar’s purchasing power erodes every year. Gold and silver protect your purchasing power.


    · If you don’t want to play the paper game, own real money, not the digital and paper stuff. Gold and silver are real money, and are NOT dependent upon central banks or government promises, commitments and integrity.


    · Gold and silver are currently inexpensive compared to total debt, M3 and government expenses. Risk is extreme in our over-extended financial system. Gold and silver may remain inexpensive for many months … or, after the economic hurricane, reset much higher.

    Protect your purchasing power, savings and retirement.

    Call Miles Franklin or Why Not Gold to discuss precious metals.

    Gary Christenson

    The Deviant Investor

    http://news.goldseek.com/GoldSeek/1510933884.php
     
  35. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    COT Gold, Silver and US Dollar Index Report - November 17, 2017
    By: GoldSeek.com
    COT Gold, Silver and US Dollar Index Report - November 17, 2017


    Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Over 1% and 2% on the Week
    By: Chris Mullen, Gold Seeker Report
    Gold saw only slight gains in Asia and London, but it then climbed steadily higher throughout most of trade in New York and ended near its early afternoon high of $1296.70 with a gain of 1.21%. Silver rose to as high as $17.371 and ended with a gain of 1.17%.
     
  36. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    Real GDP is Negative - Here's the Proof | Fund Manager Dave Kranzler
    SilverDoctors



    Published on Nov 16, 2017
    https://sdbullion.com
    http://www.silverdoctors.com/precious...

    The economy is shrinking! Fund Manager Dave Kranzler shows Silver Doctors the proof.

    Prices are rising faster than the government reported inflation rate. If GDP was adjusted for the true rate of inflation, GDP would be negative, meaning the economy is shrinking!

    Kranzler also reveals the Fed is lying. Since balance sheet “normalization” was announced, the Fed’s balance sheet has increased, not decreased.

    All this and more in this exclusive interview.
     
  37. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  38. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
  39. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    German Banks Offload “Toxic” Shipping Debt

    November 17, 2017 by Reuters

    [​IMG]
    Image by Sergey Nivens, Shutterstock

    by Jonathan Saul, Arno Schuetze (Reuters) Top national lenders Deutsche Bank and Commerzbank are stepping up efforts to offload distressed shipping loans, finance sources said, as the German banking system grapples with $100 billion in toxic debt from the sector.

    While the shipping sector is showing signs of recovery after a near-decade long downturn, it is still struggling with an excess of ships and sluggish growth in global trade, which has led to some shipping companies going to the wall.

    German banks, once global leaders in ship financing, have written off billions of euros in loans to shipping companies, while other European lenders – facing capital pressure from regulators – have quit the business.

    Two finance sources with knowledge of the matter said Deutsche Bank, Germany’s flagship lender, is looking to ringfence at least $250 million of distressed shipping loans and package them in a unit within the group, with a view to selling the debt going forward.

    “The idea is to package them together in one part of the bank – given how many units there are in Deutsche – and then look to sell them off at a discount. This appears to be a new approach by them,” one of the sources said.

    It was unclear how long the process would take, but the source said further tranches of loans could also be transferred.

    A third finance source said Deutsche had been looking at warehousing distressed shipping loans for some time.

    The bank declined to comment.

    In its quarterly results last month, Deutsche said its loan exposure to the shipping sector was approximately 5 billion euros ($5.90 billion). “A high proportion of the portfolio is sub investment-grade rated in reflection of the prolonged challenging market conditions over recent years,” it said.

    In July 2016, sources told Reuters that Deutsche Bank was looking to sell at least $1 billion of shipping loans.

    However, Deutsche’s 2016 annual report showed its loan exposure to shipping was still around 5 billion euros – indicating little movement to date.

    German banks are estimated by shipping finance sources to be holding at least $100 billion in distressed shipping loans and shipping finance sources say much of this debt is unlikely to be recouped in full, meaning heavy losses on investments.

    Banks in Germany were particularly exposed to container shipping, a market that has been weak for years.

    In a separate move two finance sources said Commerzbank, Germany’s second biggest bank, had in recent weeks sold over $300 million of shipping loans to Germany’s Berenberg Bank and investment fund Cross Ocean Partners.

    Berenberg told Reuters it had purchased “middle three-digit shipping loans from Commerzbank in conjunction with a U.S. private equity/debt fund”, without providing further details.

    Commerzbank declined to comment, while Cross Ocean did not respond to requests for comment.

    Commerzbank said this month it had reduced its shipping portfolio by more than 30 percent – or 1.5 billion euros – in the first nine months of this year to 3.3 billion euros, and the bank was on track for a year-end target of around 3 billion euros.

    It added that it was considering running down its shipping portfolio “even faster than planned”.

    “The ship finance rundown will be almost completely finalised well before the original 2020 target,” Commerzbank’s Chief Financial Officer Stephan Engels told a November earnings call.

    This week U.S. buyout fund Cerberus [CBS.UL] acquired a 3 percent stake in Deutsche Bank, becoming one of the bank’s biggest shareholders.

    Cerberus has also built a 5 percent stake in Commerzbank – adding to further speculation of a merger between Germany’s top lenders.

    Sources told Reuters in September that Germany’s DZ Bank [DETGNY.UL] is looking for a quick sale of its shipping finance business DVB after its transport division booked provisions for bad loans of 445 million euros in the first half.

    ($1 = 0.8477 euros)

    © 2017 Thomson Reuters. All rights reserved.

    http://gcaptain.com/german-banks-offload-toxic-shipping-debt/
     
  40. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    132,158
    Likes Received:
    38,249
    Trophy Points:
    113
    SD Weekly Metals & Markets Wrap............

    COMEX Record Trading Volumes vs Retail Bullion Buyer Capitulation | iGoldAdvisor's Christopher Aaron
    SilverDoctors



    Published on Nov 17, 2017
    https://SDBullion.com
    http://www.silverdoctors.com/precious...
    ⬇Check the SHOW NOTES + LINKS

    Christopher Aaron of iGoldAdvisor
    interviewed by SBullion.com's James Anderson

    Interview Highlights include:

    - Chris' background and public entrance into precious metals analysis

    - Why technical analysis matters regardless of potential manipulation

    - London Gold Pool Example ( ➤http://bit.ly/LondonGoldPoolFailure )

    - This week's Gold & Silver price action

    - Record COMEX trading volumes (Gold & Silver)

    - Current 'Bear Trap' wearing out bullion buyers' patience

    - Chris' bullion foundation & other investment vehicles for PMs

    - Bullion vs Mining Equities 1970s, 1980s, 2011s

    - Chris' near term forecasts for Gold & Silver (12 - 18 months)

    - Healthy price action creating a base for the near future

    - Lowering physical bullion demand (Gold & Silver) being a great contrary indicator


    Subscribe to Chris' free and insightful YouTube Channel below:

    https://www.youtube.com/channel/UCjG_...

    “Buy Your Gold & Silver from the Doc”

    https://SDBullion.com
     

Share This Page