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The dollar store economy: Dollar General openings account for 80 percent of new stores in the US and largest occupation in US is in retail / 

The death of retail is a very real thing.  Amazon and other online retailers are simply shifting the way people shop in dramatic fashion.  Yet you have to realize that Amazon does have a minimum buy for free shipping and not everything is rock bottom cheap.  Also, food is still marked up on Amazon so if you are on a tight budget this will not work.  So what are Americans to do?  Many are opting to shop at rock bottom priced stores like Dollar General.  Really cheap items and food.  The basics.  What is telling is that Dollar General, the king of dollar stores accounted for a stunning 80 percent of new store openings in the US.  While other retail outlets are dropping like flies Dollar General is growing to fit a new niche:  the millions of broke Americans that still need food and need cheap goods.

The dollar economy

Traditional retail is going through an extinction event.  Online retailers are taking them to task.  This model was predicated on people doing the same thing as they did in the past but they are not.  Americans are too broke to buy a home so buying big ticket items are not going to happen in the way they did in the past.  Also, Americans would rather eat out than buy groceries should they have disposable income.

The number of stores closing is rather stunning:


Merkel Paying Kids To Tattle On Parents for Not Getting Vaccinations / By Dave Hodges May 28th, 2017

We know the global elite want mandatory vaccinations. This is happening in Germany. Merkel is paying children to rat out their parents who have had their children vaccinated. Will this come to America?  This is Germany’s version of the deep state as outlined in the following video.


Russia Expects China To Help Resolve Syrian Crisis, “Restore The Country”

Rear Admiral Guan Youfei / by Tyler Durden / May 29, 2017 7:28 PM

Last summer, when the Syrian conflict was near its peak under the Obama administration, China unexpectedly warned it was ready to enter the proxy war when in a stunning announcement, Xinhua reported that Beijing was prepared to side with Syria – and Russia – and against the US-led alliance, and that Xi and Assad had agreed that the Chinese military will have closer ties with Syria and provide humanitarian aid to the civil war torn nation.

A high-ranking People’s Liberation Army officer also said that the training of Syrian personnel by Chinese instructors has also been discussed: the Director of the Office for International Military Cooperation of China’s Central Military Commission, Guan Youfei, arrived in Damascus on Tuesday for talks with Syrian Defense Minister Fahad Jassim al-Freij, Xinhua added. Guan said China had consistently played a positive role in pushing for a political resolution in Syria. “China and Syria’s militaries have a traditionally friendly relationship, and China’s military is willing to keep strengthening exchanges and cooperation with Syria’s military,” Xinhua quoted Guan.

As Reuters also added at the time, China tends to leave Middle Eastern diplomacy to the other permanent members of the U.N. Security Council, namely the United States, Britain, France and Russia, while relying on the region for oil supplies. But over the past two years, China has been trying to get more involved, including sending envoys to help push for a diplomatic resolution to the violence there and hosting Syrian government and opposition figures.


Goldman Sachs Accused of “Aiding and Abetting” Venezuela’s “Dictatorial Regime” / by Wolf Richter / 

A very risky deal with a huge yield.

It didn’t take long for sparks to fly after the Wall Street Journal reported on Sunday that, “according to five people familiar with the transaction,” the asset management division of Goldman Sachs had bought Venezuelan bonds with a face value of $2.8 billion from the Central Bank of Venezuela that it had held as part of its international reserves.

The sale of the bonds – issued by state-owned oil company Petróleos de Venezuela S.A. (PDVSA) in 2014 and due in 2022 – was completed on Thursday, according to the sources. That day and on Friday, the central bank’s international reserves jumped by $749 million, to around $10.86 billion, Reuters reported today. According to Reuters’s sources, including one at Goldman – oh my, all these leaks – the negotiations took place via middlemen in Europe.

This cash, as the Wall Street Journal put it, is “a lifeline to President Nicolás Maduro’s embattled government as it scrambles to raise funds in the midst of widening civil unrest.” The Journal describers the economic and social situation the Maduro regime is presiding over this way:

Mr. Maduro’s increasing authoritarianism coupled with critical food and medicine shortages have spawned two months of almost-daily street demonstrations, costing at least 60 lives. The economy is also suffering, having shrunk 27% since 2013. Venezuela is saddled with what the International Monetary Fund estimates will be an inflation rate of 720% this year.


Reality: ‘Employers’ Have Been Priced Out / by Karl Denninger / 2017-05-29

Folks, I want you to read this again.


We have an opiod epidemic in this country in no small part because of the loss of jobs available to blue-collar workers — people who are not rocket scientists; people with no hope, no future and no job prospects often turn to intoxication.  There’s a lot of people in this country facing this situation today; most people fall under the “average” area of the bell curve when it comes to intelligence.  Their jobs went overseas or simply disappeared not only because of bad trade deals but because the medical system got parasitic to the point that it now consumes nearly one dollar in five in the United States.  Laws such as ERISA, EMTALA and similar anti-discrimination statutes along with this parasitic sector of our economy mean that a small business offering health coverage as a benefit will be instantly bankrupted by one person who gets hired and has a $100,000/year chronic condition, and the owner of said business is forced by law to conspire with the ill applicant that comes in his door seeking work to screw his other employees.

The result?  You’re nuts to hire your first employee and you’re definitely nuts to violate any of the thresholds that trigger various requirements in laws when it comes to benefit packages and similar.

One-person businesses are great but they need to grow into 5, 10, 20 and 50 person businesses for the United States to be great again.

They can’t under the present system because just one event completely out of the owner’s control destroys everything he or she has built, it is trivial for anyone who has such a condition to target said company and if they do there is nothing that either the employer or other employees can do about it.

Do you think this applies only to small firms?


Remembering A Still Falling Hero: Small Business / by Mark St.Cyr / May 29, 2017 7:00 PM

On this holiday weekend known here in the U.S. as Memorial Day, I would like to make a slight turn in the narrative that many give little to no attention too, yet, is one of the most important underlying principles or fundamentals which helped shape, lift, mold, sustain, and create one of the world’s greatest economic powerhouses bar none.

That “turn” is in remembering: The liberty to create, and own, one’s own business.

As true as holding the principles of liberty close to one’s heart is near-and-dear to every American. What gets forgotten all too easily is what enabled many of those immigrants that fled here during its rocky beginnings, and still continues today, to shape and mold a better life for themselves and their families. That other foundational principle is this:

The ability to create, and pursue, a business idea that could, or would, allow them to acquire economic liberty based on their own self-expression made manifest via perseverance, and sometimes a little luck. And with that – create a foundation which could either be passed on, or sold, by their heirs, giving them possibly one further step-up, or ahead, onto firmer ground to take another. And maybe another, and another, and so forth.

Only through the pursuit of business was the true circumvention of any stigmatized political or economic class, ethnicity, and more so truly held in one’s own hands. Self-actualization, the pursuit of economic riches, the ability to ingratiated oneself by their own means to not only claim to be part of the American experiment, but to actually be American regardless of where one began, either from abroad or born within – was not inconsequential.


THE COLLAPSE OF FRANCE — Paul Craig Roberts / Paul Craig Roberts / May 29, 2017

The brainwashed and insouciant French electorate has voted to abolish the French nation. In five years France will exist only as a geographical location, a province in “Europe,” itself a province in global capitalism.

The French had a last chance to save their nation, but they could not do it because the French have been convinced that to be French is to be fascist and racist. Therefore, the French electorate defeated Marine Le Pen, the leader of the only political party that stands for France.

After five years under Macron, nothing will be left of France. Macron, the choice of Washington and the international bankers, represents, in the words of Diana Johnstone, “the trans-Atlantic elite totally committed to ‘globalization,’ using whatever is left of the power of national governments to weaken them still further, turning over decision-making to ‘the markets’—that is, to international capital managed by the major banks and financial institutions, notably those located in the United States, such as Goldman-Sachs.” Read Johnstone’s assessment here:

Macron defines himself as a “diversityite,” declaring that “there is no such thing as French culture.”


Leakers Identified, Continuation Of Operation ‘Clean House’ – Episode 1292b

X22Report, Published on May 29, 2017

Trump administration has identified 3 leakers and is now creating a war room to handle the deep state. Trump is very interested in having bilateral trades with many different countries completely different than what the globalists want. Google seems to censor Tusli Gabbard’s break up the big bank video. Duterte ready to fight the IS with troops and other militants. NK fires another missile and Japan says it landed in its economic zone pathway. Haftar accuses Qatar of supporting terrorists in Libya. US killing more civilians with air raids than what the US accuses of Assad of doing. US led coalition dropped leaflets in Syria telling the Syrian army not to enter al-Tanf. Marcron says Syria using chemical weapons is a red line for him.

James Mattis: War With North Korea Would Be “Catastrophic” / by Tyler Durden / May 29, 2017 6:30 PM

Defense Secretary James Mattis appeared on “Face the Nation” with John Dickerson on Sunday and repeated his warning that an armed conflict with North Korea would be “catastrophic” for US allies in the region, and that it “would be probably the worst kind of fighting” because of the North’s proximity to the South Korean capital, Seoul.

“A conflict in North Korea, John, would be probably the worst kind of fighting in most people’s lifetimes. Why do I say this? The North Korean regime has hundreds of artillery cannons and rocket launchers within range of one of the most densely populated cities on earth, which is the capital of South Korea.”

Mattis told a Pentagon news conference earlier this month that a war with the north would be “tragic on an unbelievable scale,” suggesting that the Trump administration would seek to exhaust all alternatives before resorting to military action.


Shock: Texas Democratic Rep Threatens To Kill Republican Rep On Legislative Floor After He Called ICE On Illegal Immigrants

(Pictured: Texas State Representatives Panco Nevarez (Left) and Matt Rinaldi (Right) Came To Blows On The House Floor Over Illegal Immigration) / Mac Slavo / May 29th, 2017

We’ve repeatedly warned that the division festering among the Left and Right could soon lead to violence across America and the real possibility of a civil war. Earlier this year we reported that Anti-Fascist groups were beginning to arm themselves for physical violence after taking a beat down in Berkeley.

And while attacks have thus far been limited to protesters clashing on college campuses and speaking venues for Republicans, things have now taken a drastic turn.

Hours ago, as supporters of illegal immigration massed to protest the policies being put into place by the new White House administration and the Texas State government, two Texas legislators nearly came to blows in the Capital.

According to Republican legislative representative Matt Rinaldi, he was accosted by Democrat Poncho Nevarez.

The argument stemmed from the fact that scores of protesters were waving signs in Austin, TX, with many identifying themselves as illegal immigrants. Rinaldi reportedly had enough of the disturbance and contacted ICE agents. When Rinaldi advised the House Floor that the agents had been contacted, Nevarez apparently lost total control of his faculties and began assaulting him, to the point that other legislators had to step in to break up the fight.


This Strange Market Anomaly Only Happened Twice Before And It Didn’t End Well – Episode 1292a

X22Report, Published on May 29, 2017

6 million people will be coming off of bankruptcy since the great recession and the central banks hopes they will borrow to spur the economy. JP Morgan sees no growth or employment as the economy collapses.In 1999 and 2006 we saw an anomaly that signaled the collapse of the market, we are seeing it again. Hedge fund manager says the market is to risky and decided to return all investment money to the customers. The next market crash will be blamed on Trump even thought the central bank is the real cause of it.

Paris Mayor Condemns Black Feminist Festival Which Bans White People / by Tyler Durden / May 29, 2017 6:08 PM

Paris Mayor Anne Hidalgo on Sunday condemned a vivid example of reverse racism, when she called for a black feminist festival in the French capital to be banned, saying it was “prohibited to white people.” The first edition of the Nyansapo Festival, due to run from July 28 to 30 at a cultural center in Paris, bills itself as “an event rooted in blackfeminism, activism, and on (a) European scale.”

According to AFP, four-fifths of the festival area will be set aside as a “non-mixed” space “for black women,” according to its website in French. Another space will be a “non-mixed” area “for black people” regardless of gender, while a final space would be “open to all” although as the French media explains, the English version of the site does uses the word “reserved” instead of “non-mixed.”

The announcement prompted an angry response from Hidalgo, a socialist, who said on Twitter that she “firmly condemned” the organisation “of this event, ‘prohibited to white people‘.”

“I am asking for this festival to be banned,” Hidalgo said, adding she also reserved the right “to prosecute the organisers for discrimination.”


One Sided Trade / By Warren Bevan / 29 May 2017 

A quiet week for stocks with the exception of Wednesday and Thursday after the Fed says a rate hike should come sooner than later, which increased the likelihood of a June rate hike.

Markets, stocks and metals enjoyed this outlook and took off higher, so there really is no choice but to be long, still, and looking into the future.

Metals continue to look great so let’s take a gander at their charts this long weekend.

Gold rose 1.16%, mostly on Friday.

The breakout Friday is great to see after a weeks consolidation, and it came on a nice pop in volume which gives the move more conviction.

We should see $1,300 on this move before any more real rest comes into play.


Podesta Laundering Clinton Foundation Assets Before RICO Steps In Under Civilian Asset Forfeiture / By Dave Hodges May 29th, 2017

John Podesta is buying up gold, art and other valuables as he converts Clinton Foundation laundered money to hard assets and is hiding these assets around the world. Clearly, they think RICO is going to be seizing Clinton Foundation assets.

The complete story is contained in the following video.


Millions Of Americans Just Got An Artificial Boost To Their Credit Score / by Tyler Durden / May 29, 2017 5:29 PM

Back in August 2014, we first reported that in what appeared a suspicious attempt to boost the pool of eligible, credit-worthy mortgage and auto recipients, Fair Isaac, the company behind the crucial FICO score that determines every consumer’s credit rating, “will stop including in its FICO credit-score calculations any record of a consumer failing to pay a bill if the bill has been paid or settled with a collection agency. The San Jose, Calif., company also will give less weight to unpaid medical bills that are with a collection agency.” In doing so, the company would “make it easier for tens of millions of Americans to get loans.”

Then, back in March of this year, in the latest push to artificially boost FICO scores, the WSJ reported that “many tax liens and civil judgments soon will be removed from people’s credit reports, the latest in a series of moves to omit negative information from these financial scorecards. The development could help boost credit scores for millions of consumers, but could pose risks for lenders” as FICO scores remain the only widely accepted method of quantifying any individual American’s credit risk, and determine how much consumers can borrow for a new house or car as well as determine their credit-card spending limit

Stated simply, the definition of the all important FICO score, the most important number at the base of every mortgage application, was set for a series of “adjustments” which would push it higher for millions of Americans.


GoldSeek Radio pt2 – May 26, 2017 [JOHN SCURCI & PETER GRANDICH] weekly Radio, Published on May 29, 2017

GoldSeek Radio’s Chris Waltzek talks to John Scurci of Corona Capital Management and to Peter Grandich, publisher of the Grandich Letter

Banco Popular’s Co-Co Bonds Plunge as Balance Sheet Chaos Revealed in Potential Forced Sale / by Don Quijones/  

“This sales process is atypical, as the seller itself cannot at this point make a rough calculation of what the value of the entity is, and if they can’t, neither can we.”

By Don Quijones, Spain & Mexico, editor at WOLF STREET.

The current share price of Spain’s sixth biggest bank, Banco Popular, at €0.67, is just pennies above its lowest point ever. According to analysts at 20 different investment banks consulted by Bloomberg, the “objective” value of those shares could be anything from €1.50 (Oddo & Cie) to €0.25 (Kepler Cheuvreux).

There’s good reason for this uncertainty: Popular’s books are filled with impaired real estate assets that date back to before the collapse of Spain’s gargantuan real estate bubble. They are now in varying stages of decomposition. And the prices at which they’ve been valued on the bank’s books appear to have little relation with today’s reality.

It now turns out that not even Popular’s management knows what’s really going on on Popular’s books.

Representatives of Banco Santander and majority state-owned Bankia, the two banks studying Popular’s books to decide whether or not to submit a binding offer for the bank before the deadline of June 10, are having serious difficulties trying to understand Popular’s accounts, according to Spain’s financial daily Expansión. Although there is “total collaboration” from the struggling entity, Popular’s management has not yet completed its own review of the impaired assets on the bank’s balance sheets and therefore cannot offer a precise valuation of the bank.


Sperry: How Team Obama Tried To Hack The Election / by Paul Sperry, op-ed via / May 29, 2017 

New revelations have surfaced that the Obama administration abused intelligence during the election by launching a massive domestic spy campaign that included snooping on Trump officials.

The irony is mind-boggling: Targeting political opposition is long a technique of police states like Russia, which Team Obama has loudly condemned for allegedly using its own intelligence agencies to hack into our election.

The revelations, as well as testimony this week from former Obama intel officials, show the extent to which the Obama administration politicized and weaponized intelligence against Americans.

Thanks to Circa News, we now know the National Security Agency under President Barack Obama routinely violated privacy protections while snooping through foreign intercepts involving US citizens — and failed to disclose the breaches, prompting the Foreign Intelligence Surveillance Court a month before the election to rebuke administration officials.


Reuters Broke the Story of Russian Back Channel Plan Eight Days Before WaPo Named Kushner / By Pam Martens and Russ Martens: May 29, 2017 

As reporters in every major newsroom in the U.S. scramble to fill in the blanks in the bizarre tale of President Trump’s son-in-law, Jared Kushner, attempting to set up a secret back channel with Russia using Russian communication equipment almost two months before Trump had taken the reins as President, there’s another related story that has not been adequately fleshed out.

Eight days before Washington Post reporters named Kushner as a key participant in this plan, reporters at Reuters had already reported on May 18 that “Michael Flynn and other advisers to Donald Trump’s campaign were in contact with Russian officials and others with Kremlin ties in at least 18 calls and emails during the last seven months of the 2016 presidential race…” The Reuters report then dropped the bombshell that Flynn and Sergei Kislyak, Russia’s ambassador to the United States, “discussed establishing a back channel for communication between Trump and Russian President Vladimir Putin that could bypass the U.S. national security bureaucracy, which both sides considered hostile to improved relations, four current U.S. officials said.”


GoldSeek Radio pt1 – May 26, 2017 [JOHN SCURCI & PETER GRANDICH] weekly Radio, Published on May 29, 2017

oldSeek Radio’s Chris Waltzek talks to John Scurci of Corona Capital Management and to Peter Grandich, publisher of the Grandich Letter

Economists Puzzled By Unexpected Plunge In Saudi Foreign Reserves / by Tyler Durden / May 29, 2017  4:39 PM

The stabilization of oil prices in the $50-60/bbl range was meant to have one particular, material impact on Saudi finances: it was expected to stem the accelerating bleeding of Saudi Arabian reserves. However, according to the latest data from Saudi Arabia’s central bank, aka the Saudi Arabian Monetary Authority, that has not happened and net foreign assets inexplicably tumbled below $500 billion in April for the first time since 2011 even after accounting for the $9 billion raised from the Kingdom’s first international sale of Islamic bonds.

As the chart below shows, according to SAMA, Saudi net foreign assets fell by $8.5 billion from the previous month to $493 billion the lowest in six years, bringing the decline this year to $36 billion. Over the past three years, Saudi foreign reserves have dropped by a third from a peak of more than $730 billion in 2014 after the plunge in oil prices, prompting the IMF to warn that the kingdom may run out of financial assets needed to support spending within five years, according to Bloomberg.

Analysts were puzzled by the ongoing sharp decling in Saudi reserves, especially since Saudi authorities recently embarked on a very public and “unprecedented” plan to overhaul the economy and repair public finances.


Read this before following Warren Buffet’s investment advice / Simon Black / May 29, 2017

Not too long ago I received an email offering the luxury trip of a lifetime to Iceland.

It was a package tour… and super impressive.

We would have our own private helicopters taking us all over the island for seven days. There was horseback riding, dune buggies, even racing Ferarri and Lamborghini supercars across a frozen lake.

Then I saw the price: $150,000.

I looked again thinking I had made a mistake. Sadly the number didn’t change. I looked a third time to make sure the price was in US dollars.

It was.

My immediate reaction was totally predictable. “That’s f*ing insane!” And I could prove it.

I’ve been to Iceland a few times. Beautiful country.

And when I was there I rented my own private helicopter to fly all over the island and go wherever I wanted.

(At one point when I was there in 2013 my pilot and I buzzed the location where they were shooting a ‘north of the wall’ scene from Game of Thrones.)

That was around $2,000 per day. Based on this package, it seemed they were charging around $10,000 per day.

I’ve also done the supercar race, which also runs a few thousand dollars.


Chart of the Day – Just as I Predicted… / By Gary Savage / 29 May 2017

I’ll tell you when it’s time to buy miners and it’s not time yet. We need to generate some excessive bearish sentiment first. That will come only at the intermediate cycle bottom. And that’s not due until June.


Ignore OPEC, It’s China That Dictates Oil Prices / By Nick Cunningham via / May 29, 2017  

The OPEC deal will lead to an ongoing tightening of the crude oil market, putting a floor beneath crude prices in the $50s per barrel in the second half of 2017, according to Helima Croft of RBC Capital Markets. She said that prices should ultimately “grind higher into the $60s” by the fourth quarter, with an average price for WTI expected at $61. Political and economic pressure surrounding Saudi Aramco’s IPO and Russian elections – both of which are slated for 2018 – will ensure that OPEC and non-OPEC does “whatever it takes” to keep oil prices stable and on the rise.

But there are a lot of factors outside of OPEC’s control. High up on that list is the role of China, a country that has received little attention in the oil world as of late amid all the furor over the OPEC vs. U.S. shale debate. But China could make or break the oil market this year and next, depending on what happens with its economy. “If you wanted to know where the downside risk is, it is not in OPEC’s decision or in U.S. driving demand or in global inventories rebalancing. I think China is the big source of concern,” Prestige Economics President Jason Schenker told CNBC.


Who is the Greater Global Threat: ISIS, Putin, Trump, Senator McCain? /  Mike “Mish” Shedlock / May 29, 2017

As Senator John McCain, goes further and further down his rabbit hole, he looks more and more hypocritical with every step he takes.

Here is a case in point: McCain proposed Putin a Geater Threat than ISIS.

The Russian president, Vladimir Putin, is the biggest threat to global security, even greater than Isis, John McCain has declared on his tour of Australia.

In an interview on ABC’s 7:30 on Monday the Republican senator said President Donald Trump made him “nervous” and expressed concern at reports that White House adviser Jared Kushner allegedly discussed creating a secret communication channel with Russia..