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The West’s Reckless Rush Towards War With Russia

paulcraigroberts.org / Paul Craig Roberts / July 31, 2014 

On a number of occasions recently I have made the point that the psychopaths in control of Washington are driving the West to war with Russia. The lies that the Obama regime and Western presstitute media are hurling at President Putin are even more blatantly false that the lies Washington used against Saddam Hussein, Gaddafi, Assad, the Taliban, and Iran, and the lies are far more reckless. Russia has a nuclear arsenal as large as Washington’s, and Russia is very much aware that for 13 years Washington’s lies and demonizations of countries are the preludes to launching military attacks on the countries.

It is completely obvious that no one in Washington has enough sense to be in government. In Washington power is in demonic and idiotic hands. Washington consists of the largest collection of criminal fools in human history.

You have read what I have had to say. Now you can read it from Chris Martenson. Tyler Durden has posted Martenson’s analysis on Zero Hedge http://www.zerohedge.com/news/2014-07-31/wests-reckless-rush-towards-war-russia or you can read it on Peak Prosperity.http://www.peakprosperity.com/blog/86415/wests-reckless-rush-towards-war-russia

The threat to life on earth has never been as great as it is at this time. The crazed fools in Washington and the reckless scum that comprise the Western media are brewing armageddon.

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RANsquawk Preview: Nonfarm Payrolls – 1st August 2014

zerohedge.com / by RANSquawk Video on 07/31/2014 16:03

CLICK HERE TO LISTEN

Debt Rattle Jul 31 2014: Say Bye To The Bubble

DPC Ghosts in train concourse, Union Station, Washington DC 1910

theautomaticearth.com / by Raúl Ilargi Meijer / July 31, 2014

Is the age of stimulus over? It may well be. That would expose global markets as the naked emperors they always were. From the point of view of America, it makes sense to taper. Not because of invented jobless and GDP growth data, though they do make it harder for the Fed not to quit QE. No, it makes sense because the negative impacts will be hugely outweighed by the positive ones. Or, to put it in different terms, the death of the bubble will hurt the US too, and probably badly, but it will hurt others much more. And that can be – seen as – a good thing.

Emerging economies, smaller and larger ones, have grown themselves over the past few years by gobbling up dollar-denominated debt, and using it as the foundation for highly leveraged credit instruments. Much of this (short-term) foundation needs to be rolled over on a regular basis. And that’s where the taper will start to bite something bad, soon. Because everybody on the planet is in the same predicament. Except the US.

Moreover, most commodities are traded in dollars. Countries may sign the occasional bilateral deal in other currencies, but that’s hardly relevant. The world’s life-blood, fossil fuels, will easily remain 90-95% traded in US dollars. And that at a point in time when everyone will at least start to fear a permanent shrinkage of supplies.

Shell, like its peers, announced large profits today. But Shell knows, as do Exxon and BP, that those profits look to be a fluke. And that’s before they’ve even considered their fresh Russian sanctions problems. The simple fact is, they’re running out of reserves, and they apparently have little hope more will be found anytime soon, even if they’ll never say it out loud. Look what they do, not what they say. The Guardian:

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Rays of Hope

tfmetalsreport.com / By JY896 / July 31, 2014 

I was in high school when I first started working for the powers that be. A helicopter landed in my hometown, carrying a few mid-level military officers (Brits, Dutch, Germans) that worked for the OSCE Special Monitoring Mission. The task force had been charged with setting up a base of operations for monitoring the then-recent ‘civil’ war in Yugoslavia. Desperate for local interpreters, the group was directed by the mayor to my bilingual high school – and in turn, the principal summoned me from class to accompany the delegation, who asked if I would be willing to work for them part-time as a liaison/interpreter/office manager as they set up an office in my town.

Over the years that followed, I worked for the OSCE, then for a military contractor that supplied interpreters to the US Army in Eastern Europe theaters of operation. I worked with Army/AF/Marine units.  I recruited a classmate to work for AF Intel, saw bored and listless Marines operate drones (then a relatively novel concept) over Bosnia. Worked with an NGO who had come to my country to teach the locals about the wonders of the US stock market. Met NCOs who had been given a choice: 10 years in Federal penitentiary or 20 years in the Army (my friend had the misfortune of being caught boosting 18-wheeler rigs, and refused to name his fence). He became a heavily decorated gunnery sergeant, veteran of Gulf War I, who taught armored cavalry units how to shoot and maneuver throughout Europe.

My country spent a solid 20 years licking the bootheel of its erstwhile official mortal enemies in an attempt to integrate itself better with the EU and ‘Western values’. Our markets were dumped with subsidized EU agricultural products, destroying much of the smaller local agricultural producers. Anyone with any skill/talent/language ability fled the country as soon as they gained their (highly respected and good-quality) university degrees to seek work in the UK, Germany, France, etc.. At least a quarter (if not half) of my high school class are now expats. Whenever I go home, all my relatives lament the distance of my domicile, but take great pains to tell me not to consider moving home.

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Previewing Tomorrow’s ‘Anti-Goldilocks’ Payrolls Data

zerohedge.com / by Tyler Durden on 07/31/2014 21:18

It appears – judging by today’s shenanigans – that good news for Main Street (rising employment costs) is bad news (for stocks), though obviously there are other factors; but tomorrow’s payrolls data is the last best hope before the Fed finishes its taper for them to pull a ‘data-driven’ U-turn out of the bag.Consensus is for a drop from last month’s exuberance at 288k to 230k (with Barclays slightly cold and Deutsche slightly hot). The fear, for market bulls, is that the print is anti-goldilocks now – not bad enough to provide excuses for lower-longer Fed rates; and not high enough to justify the hockey-stick of miraculous H2 growth priced into stocks. Average S&P gains on NFP Friday are 0.5% but recently have become more noisy.

Over 200k would be the 6th month in a row for the first time since 1997!

Over 300k (above highest expectations) and we suspect The Fed would be under pressure as that would mean a six-month average above the last expansion cycle peak…

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The Official Counterfeiter: A Cartoon Booklet For Congress

teapartyeconomist.com / by Gary North on July 31, 2014

Back in 1969, Vic Lockman published a cartoon booklet exposing the Federal Reserve System. Lockman was a cartoonist for Disney. He did not do the final cartoons. He wrote the story lines and provided accompanying cartoons. Then the in-house Disney cartoonists re-drew them.

Lockman had been reading my essays on the Federal Reserve. He created The Official Counterfeiter as an easy-to-grasp explanation of fractional reserve banking. He updated it in 1974.

Unlike virtually all popular criticisms of the Federal Reserve, this booklet reported that the FED returns to the Treasury most of money it makes from interest paid the interest it earns.

Look at the figures in 1974. The debt held by the FED was $140 billion. Today, it is over $4.4 trillion.

SOURCE

Ebola 2: here come the “global pandemic” promoters

jonrappoport.wordpress.com / by Jon Rappoport / July 31, 2014

Now in the UK, the government has absurdly decided it wants to hunt for 30,000 people who might have “come in contact” with air traveler Patrick Sawyer, who is said to have died from Ebola.

At first, the search was going to be aimed at only several hundred, but now they’ve multiplied the hysteria factor.

Here is one predictable outcome: at clinics and hospitals, frightened people who arrive with what are labeled “early signs” of Ebola will be labeled as probable cases. What are those symptoms? Fever, chill, sore throat, cough, headache, joint pain. Sound familiar? Normally, this would just be called the flu.

What’s (intentionally) missing in all this an understanding of the immune system. Generally speaking, a germ doesn’t stand a chance of causing serious illness when the immune system is strong.

Of course, you won’t hear about that. Instead, news accounts will feature shock and awe: “perfectly healthy people” who suddenly succumbed to the “killer germ.”

The fact is, unless a serious, honest, and highly competent practitioner does a complete workup on a patient, he has no idea whether that person is healthy and has a strong immune system.

While researching my first book in 1987, AIDS Inc., I read published summaries of “the first AIDS cases,” all of whom had been patients at UCLA Hospital. To a man, these patients were labeled “formerly otherwise healthy.” That was sheer propaganda. Nothing could have been further from the truth. The lists of their prior medical drugs put the lie to that in short order.

In areas of the world where severe malnutrition, starvation, lack of basic sanitation, contaminated water, overcrowding, heavy pollution are present, people fall ill and die routinely.

These conditions destroy the immune system—and then any germ that sweeps through the area causes illness and death, because body’s defenses are shot. That’s the real problem.

Here’s another point you won’t see discussed on the mainstream news: the reliability of tests used to diagnose Ebola.

Two of those tests—antibody and PCR—are notoriously unreliable…

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Payrolls Watch: July Challenger Job Layoffs Surge Most In Over 2 Years

zerohedge.com / by Tyler Durden on 07/31/2014 19:16 

With the world waiting for tomorrow’s “most important data of the year” payrolls report as their signal to BTFD or follow Yellen Capital’s recommendation and “sell,” we thought it perhaps of note that this morning’s Challenger jobs data was extremely weak. Layoffs in July surged 49% (the most since May 2012) to 46,887. This is the 2nd most layoffs in 11 months. The heaviest layoffs were in the Western region and also most concentrated in the auto industry.

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An Insufferable Beer Crisis Hits California

wolfstreet.com / by Wolf Richter / July 31, 2014

I need to disclose upfront that I’m biased: I’m a beer lover. And I live in beer-paradise, the crazy state of California. Kicking back with a brewski from a local craft brewer, of which we have over 450, can make even the Fed’s capers less aggravating. But soon that beer-induced smile on my face may dry up.

California’s enduring drought that has turned into a water crisis is hitting beer production. Turns out, to get one gallon of beer, breweries use about four to seven gallons of water in their processes, including rinsing of equipment, etc. And there isn’t enough water, or not enough of the right kind of water.

California’s craft brewing industry is big. In 2012, according to the most recent dataavailable from the California Craft Brewers Association, the industry contributed $4.7 billion to the economy and employed 44,000 people who earned $1.7 billion in wages. So maybe not the highest-paid jobs, at about 39k per year on average. But it’s a cool industry with hot sales.

Overall, the beer industry in the US is sick. Total sales dropped 1.9% to 196.2 million barrels in 2013. Per-capita beer consumption has been dropping relentlessly since 1981, from 26 gallons per year to about 19 gallons. The statistics of a miserable industry.

But craft brewers use Yankee ingenuity to create the best beers in the world. And people are buying them! In 2013, according to the Brewers Association, craft brew sales in the US jumped 17.2% to 15.3 million barrels, and exports soared 49%. The world is catching on to our beers!

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The West’s Reckless Rush Towards War with Russia

peakprosperity.com / by Chris Martenson / July 31, 2014

For reasons that have no rational explanations at this time, the US and Europe have embarked on a concerted program to demonize Putin, ostracize Russia, and bring the world as close to a major conflict as it’s been since the Cold War, a time hardly memorable to many in the current crop of our elected officials.

Within hours of the MH-17 plane crash, the United States pinned the blame on Russia generally, and Putin particularly. The anti-Putin propaganda (and if there were a stronger term I’d use it) has been relentless and almost comically over-the-top (see image above, and those below).

The US and the UK in particular, are leading the charge. Indeed, the UK’s Daily Mail managed to crank out an article on the MH-17 affair within just a few hours on the very same day it occurred with this headline:

The blood on Putin’s hands…

Jul 17, 2014

The world may have averted its gaze towards Israel and Gaza, but this week the rumbling warfare in eastern Ukraine has been erupting into something growing daily more dangerous.

Meanwhile the Russian bear, still pretending to be an innocent party despite blood dripping from its paws, has begun stealthily rebuilding its forces on the border.

Now we may well have witnessed the kind of shocking event that happens when heavy armaments are placed in the hands of untrained and desperate militias.

That’s really an amazing piece of journalism to have managed to have figured out the who, the what and the why of a major catastrophe without the benefit of any evidence or investigation.  One wonders who the author’s source was for obtaining what have become very crisp talking points that both the US and Europe are echoing as they exert increasing pressure on Russia?

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Pole-Dancing And/Or Happy Women Should Avoid Turkey, Deputy PM

zerohedge.com / by Tyler Durden on 07/31/2014 18:42 

If you’re a woman looking for some fun… we strongly urge you to avoid Turkey. Turkey’s Deputy Prime Minister Bulent Arinc has some strong opinions on the female of the species. First, on Monday, he exclaimedwomen needed to be “morally upright” and “not laugh out loud in public.” And now, the senior Turkish minister, that some women “don’t have self control and can’t stop themselves from climbing up a pole.” Of course his actions sparked an avalanche of social media posts of women laughing-out-loud and on-the-pole… which is ironic given that Twitter reports that Turkey accounts for 43% of all global requests for content removal.

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Gold Under Pressure But Bounce Increasingly Likely

goldsilverworlds.com / BY Taki Tsaklanos / July 31, 2014

Despite seeing some hints of “risk-off” trade in other markets, traditional safe-haven gold has failed to catch a bid this week. In fact, the yellow metal has actually dropped to a 6-week low below $1290 in today’s early US session. The persistent strength in the U.S. dollar is undoubtedly one of the biggest factors driving gold lower; all things equal, if the value of the dollar rises, it will take fewer of them to buy an ounce of gold. Beyond the buck’s resurgence, gold is also pressured by weaker physical demand from Asia, a major consumer.

The technical picture for gold also favors the bears in the short-term. As noted above, gold dropped below key previous support in the $1290 area today, potentially paving the road for another leg lower. Meanwhile, the 4hr MACD is trending lower below its signal line and the “0” level, while the RSI continues to find resistance near the “60” level, indicative of an overall downtrend.

Though there are a plethora of near-term bearish signs, a developing technical pattern suggests we could bottom form off key support near $1272. Over the last two weeks, gold’s fluctuations have created the beginnings of a Fibonacci-based geometric pattern called a Bullish Butterfly pattern, but the name of the pattern is not particularly important. What is important is that there is a confluence of three support levels at $1272 (the 161.8% Fibonacci extension of XA, 161.8% Fibonacci extension of BC, and the ABCD pattern completion), increasing the  probability of a bounce from that area. In addition, the 4hr RSI will also likely be in oversold territory if prices reach that potential floor by early next week, adding another bullish factor to the mix.

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Celente – Terrifying Crash & Death Of The Global Ponzi Scheme

kingworldnews.com / July 31, 2014

On the heels of the Dow plunging 300 points, today the top trends forecaster in the world warned King World News that we are now going to witness the terrifying crash & death of the global Ponzi Scheme.  Below is what Gerald Celente, founder of Trends Research and the man considered to be the top trends forecaster in the world, had to say in this timely and powerful interview.

Celente:  “The 4 percent GDP number in the U.S. was fantasy, but the story is much bigger than that.  With another $10 billion of tapering happening, look at what’s going on in the equity markets around the world.  This just proves that the markets cannot sustain themselves without the cheap flow of money….

Continue reading the Gerald Celente interview below…

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Dow Drops 300 Points: Turns Red For 2014

zerohedge.com / by Tyler Durden on 07/31/2014 15:28

Well that escalated quickly…

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White House accidentally leaks post-9/11 CIA torture report findings

thedailysheeple.com / Russia Today / July 31, 2014

When the CIA first began using its controversial interrogation and detention methods after the September 11th attacks, it reportedly declined to tell the Secretary of State and other American ambassadors about its actions.

The revelation comes from the Senate’s still-unreleased report scrutinizing the United States’ post-9/11 interrogation techniques, and first came to the public’s attention Wednesday when the White House unintentionally emailed a document detailing the findings to an Associated Press reporter.

The report – parts of which could be declassified by the White House in the coming days – also apparently found that some of the ambassadors who were briefed on the CIA’s activity were told not to notify their superiors in the State Department. One congressional official confirmed to the AP that these findings are documented in the Senate’s report, while a former CIA official said then-Secretary of State Colin Powell may not have known about the agency’s techniques when they first started using them…

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July 31.2014:/No change in gold inventory at the GLD/no change in silver inventory at SLV/Chicago mfg PMI implodes/ the Dow implodes by over 300 points in sympathy with the BES crash and the Argentinian default.

harveyorgan.blogspot.com / July 31, 2014

Gold closed down $13.60 at $1281.30 (comex to comex closing time ). Silver was down 18 cents at $20.37

In the access market tonight at 5:15 pm

gold: $1296.00

silver: $20.60

Today is the final day for options expiry on the OTC contract. True to form, our bankers again orchestrated a raid to make sure gold stays below $1290.00 and silver below $20.50. Tomorrow is the jobs report so the crooks may continue to whack.

The Dow plummeted 317 points today in sympathy with the crash in Portugal’s second largest bank, BES , (we may have a systemic default here) and in the other major story, the default of sovereign Argentina. This morning, the Chicago manufacturing PMI fell by 8 standard deviations from 62.6 down to 52.6 as the USA is following in the steps of Europe in a free fall.

Silver eagle sales in the USA top 26 million oz for 7 months and thus heading for a total mintage of 44 million oz. The USA produces 34 million oz and thus they need to import silver just to satisfy the mint. Silver demand in the USA for silver energy solar panels, radiology, pharmaceuticals and jewelery continue to explode off the charts.

GLD: no change in gold inventory at the GLD (tonnage still 801.84 tonnes).

SLV : no change in silver inventory at the SLV .

We will discuss these and other stories

So without further ado………………

Let’s head immediately to see the data has in store for us today.

First: GOFO rates/

All GOFO rates are positive and thus we have no real backwardation. Most of the months moved much closer to the negative needle, with the one year GOFO moving slightly towards the positive. It looks to me like the Indian gold swap with the B. of E is entering the market as leases.

London good delivery bars are still quite scarce.

July 31 2014

1 Month Rate: 2 Month Rate 3 Month Rate 6 month rate 1 yr rate

+.056000% +.078000% +.09600% +.15600% + .232000%

July 30.2014:

1 Month Rate 2 Month Rate 3 Month Rate 6 month Rate 1 yr rate

+.0800% +.102000% +.12200% +.17600% +.22200%

end

Let us now head over to the comex and assess trading over there today,

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US-Israeli Relations In 1 Cartoon

zerohedge.com / by Tyler Durden on 07/31/2014 17:46 

Hypocrisy… or diplomacy?

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Saudi Man Receives 3 Year Prison Sentence and 450 Lashes for Being Gay

libertyblitzkrieg.com / Michael Krieger / July 31, 2014

Saudi Arabia and its Medieval, inhumane monarchy has been a highlighted topic on Liberty Blitzkrieg for well over a year now. My government’s close alliance with this autocratic, homophobic and primitive fiefdom exposes the sham that is U.S. foreign policy more clearly than anything else. In exposing this authoritarian regime for what it really is, I hope that the American public will never again fall for war under the guise of false “humanitarian” purposes. There is nothing whatsoever humanitarian about U.S. foreign policy.

From the UK Independent:

 A Saudi Arabian man has been sentenced to three years in jail and 450 lashes after he was caught using Twitter to arrange dates with other men.

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Report finds government agents ‘directly involved’ in many U.S. terror plots

policestateusa.com / by Site Staff in News / July 31, 2014

A new report has revealed a disturbing set tactics used in the pursuit of domestic terrorism. Among the findings was the fact that the FBI directly involved itself in planning a large percentage of foiled terror plots, often convincing impressionable or mentally disabled people to join the plot, then arresting them.

Human Rights Watch published the 214-page report, titled “Illusion of Justice: Human Rights Abuses in US Terrorism Prosecutions.” It documents a number of cases which the group describes as being marred by overly-aggressive prosecution, entrapment, and draconian treatment of prisoners.

“Americans have been told that their government is keeping them safe by preventing and prosecuting terrorism inside the U.S.,” said Andrea Prasow, deputy Washington director at Human Rights Watch and co-author of the report. “But take a closer look, and you realize that many of these people would never have committed a crime if not for law enforcement encouraging, pressuring, and sometimes paying them to commit terrorist acts.”

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Elliott’s Paul Singer On Gold, Inflation, And The Global Monetary Delusion

zerohedge.com / by Tyler Durden on 07/31/2014 17:15

 “Although the levitation of financial assets has yet to levitate gold, we will grit our collective teeth on that score and await either ‘asset price justice’ or the ‘end times,’ whichever comes first.”

Authored by Paul Singer, excerpted from Elliott Management’s latest letter to investors,

GLOBAL MONETARY DELUSION – MORE COWBELL

Central bankers think they are the masters of the universe because the world is looking to them (and only them) to deliver continuous stability and prosperity. There is no reason to suppose that they understand the modern financial system and economy to any greater extent than they did in 2007 (that is to say, not at all). Nevertheless, they plow ahead, expressing total confidence that what they are saying and doing is wise and not dangerous drivel. These master chefs have but one vat next to them on the policy table, and it is labeled “QE.”

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Great Graphic: US Jobs by Region and State

marctomarket.com / by Marc Chandler / July 30, 2014

This Great Graphic was created by ADP based on their surveys of the private sector.  There are only three US states that have not grown jobs over the past six month, Connecticut, Arizona and Utah.

The relatively heavier populated states should see larger swings in their numbers.  So it is not surprising that California and Texas lead in job creation over the past six months.  What stands out is that Ohio edged out New York, which is the third largest state. This may speak to the recovery of the manufacturing sector in general, and autos in particular

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Driverless Cars on UK Public Streets Starting January; Transforming Personal Mobility; Taxi and Truck-Drivers Targeted

globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / July 31, 2014

The march for fully autonomous driverless cars marches on. In May, Google announced the Next Phase in Driverless Cars: No Steering Wheel or Brake Pedals.

 Google’s prototype for its new cars will limit them to a top speed of 25 miles per hour. The cars are intended for driving in urban and suburban settings, not on highways. The low speed will probably keep the cars out of more restrictive regulatory categories for vehicles, giving them more design flexibility.

Google is having 100 cars built by a manufacturer in the Detroit area, which it declined to name. Nor would it say how much the prototype vehicles cost. They will have a range of about 100 miles, powered by an electric motor that is roughly equivalent to the one used by Fiat’s 500e, Dr. Urmson said. They should be road-ready by early next year, Google said.

Google hopes to persuade regulators that the cars can operate safely without driver, steering wheel, brake or accelerator pedal. Those cars would rely entirely on Google sensors and software to control them.

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Tesla’s Non-GAAP Quarter In Three Gigacharts (Added Free Option: GAAP Charts)

zerohedge.com / by Tyler Durden on 07/31/2014 16:44

Yes, yes, we know: soon everyone will be driving a Tesla, and, perhaps, sooner Tesla will build its much-hyped, and so critical for its business model Gigafactory (although shouldn’t it be non-GIGA to go with non-GAAP… about which it had this to say: “In June, we broke ground just outside Reno, Nevada on a site that could potentially be the location for the Gigafactory. Consistent with our strategy to identify and break ground on multiple sites, we continue to evaluate other locations in Arizona, California, New Mexico and Texas.”). In the meantime, and just as the biggest wealth effect-creating (for the 0.1%) stock market of all time appears to be ending, here is Tesla’s quarter, and last few years, in three gigacharts.

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Gold Daily and Silver Weekly Charts – Into the Storm: Sharknado II

jessescrossroadscafe.blogspot.com / 31 JULY 2014

Today was not unexpected.  Let me repeat.  I was not surprised.  

The markets today were so boring, in the manner of a staged match in professional wrestling, that I actually broke down and watch a DVR’d copy of ‘Sharknado II.‘  (It was absurd to the point of being clichéd and campy but without genuine laughs, just like the current US Congress.)

This was the ‘wash and rinse’ that was being written all over the charts.

Stocks dropped about 2%, and gold and silver were under continuing pressure for most of the day.

It did not seem like a panicky sell off, based on the Argenine default, although the VIX spiked pretty hard. 

 Rather, it looked like the type of very cynical market move that has characterized almost everything we have seen from the equity markets Matrix for some time now.  Now that we have run them up, let’s do a quick dump of stocks to once again try to skin the pension and mutual funds, along with mom and pop.

The gold and silver sell off, despite the big drop in stocks, ahead of the Non-Farm Payrolls report tomorrow, was just too much.   Wow, precious metals hit ahead of a Non-Farm Payrolls Report.  What a surprise.

Well, let’s see how things progress. This *could* turn into something else, but for now it seems about as manufactured and orchestrated as the crisis in the Ukraine, and the neo-con beating of the war drums with Russia.  

Doesn’t this whole thing with Russia seem about as weird as the sudden push for war in Iraq that we saw in the Bush Administration?  Its pretty clear what the motives were then in terms of making the most of a phony crisis.  I wonder what they are up to now?

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FBI Scandal: Flawed Forensics Rampant, Impacted Many Cases

thedailysheeple.com / Lily Dane / July 31, 2014

Over two years ago, the Justice Department and the FBI began a review of thousands of criminal cases to determine if any defendants were wrongfully convicted based on flawed forensic testimony.

The review included 2,600 convictions and 45 death-row cases from the 1980s and 1990s in which the FBI’s hair and fiber unit reported a match to a crime-scene sample before DNA testing of hair became common.

On July 10, 2012, Spencer S. Hsu of The Washington Post broke the story:

The undertaking is the largest post-conviction review ever done by the FBI. It will include cases conducted by all FBI Laboratory hair and fiber examiners since at least 1985 and may reach earlier if records are available, people familiar with the process said. Such FBI examinations have taken place in federal and local cases across the country, often in violent crimes, such as rape, murder and robbery.

The review comes after The Washington Post reported in April that Justice Department officials had known for years that flawed forensic work might have led to the convictions of potentially innocent people but had not performed a thorough review of the cases. In addition, prosecutors did not notify defendants or their attorneys even in many cases they knew were troubled.

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“Markets In Turmoil” Russell 2000 Plunges Most In Over 2 Years, Dow Down For 2014

zerohedge.com / by Tyler Durden on 07/31/2014 16:05 

The deer is back…

Stocks finally snapped and caught down to high-yield credit’s warnings. The worst day for the Dow in 6 months, smashing through its 50- and 100-day moving-average. The Russell 2000 was worst on the day to end July down over 6% – its worst month since May 2012. The S&P’s had almost its worst day in 6 months. Trannies dropped 3.4% on the week – the worst in 11 months. Stocks closed at the day’s lows.

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U.S. Authorities Starting to Worry about Deutsche Bank’s Mountain of Derivatives

goldbroker.com / Philippe Herlin / Jul 31, 2014

We know, since last year, that Deutsche Bank has become the bank with the most exposure to derivatives in the world, slightly ahead of JP Morgan. The total amount of the German bank’s derivatives is astounding: 55 Trillion euros, a sum equal to 20 times Germany’s GDP, or five times the Euro zone’s GDP. Obviously, the bank could not face any hard depreciation of those products, since they represent 100 times its clients’ deposits, or 150 times its own funds…

What’s new is that financial authorities are starting to worry. Well, it’s about time! Even though, as we would have thought or hoped, these worries are not emanating from German or European authorities, but from U.S. authorities. In a letter to Deutsche Bank, in fact, the New York Fed states an “important operational risk”, and goes on to say that financial reports from the bank concerning derivatives “are of a low quality, imprecise and unreliable. The sheer size and scope of errors strongly suggest that the whole regulatory reporting structure of the bank should be thoroughly revised.” The New York Fed also deplores that, despite its former warnings, it has not noted any improvement. And, as confirmation of this scary picture, KPMG, Deutsche Bank’s auditor, has also noted some “deficiencies” in the bank’s financial reporting.

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Stocks Dive! The DOW Plummets 317 points. What’s Next? By Gregory Mannarino

Gregory Mannarino, Published on Jul 31, 2014

CDC Issues Level 3 Travel Alert As ‘Largest Ebola Outbreak In History’ Spreads

zerohedge.com / by Tyler Durden on 07/31/2014 14:38 

Things appear to be going from worse to worst as the deadly Ebola epidemic surges on. The CDC has issued a Level 3 – Avoid All Non-Essential Travel – warning.

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Detroit Residents Appeal to United Nations to Save Their Access to Water

21stcenturywire.com / Cynthia McKinney / July 31, 2014

The City of Detroit is shutting off water taps for its residents. Yet, corporations are not forced to pay.

First, My History With Detroit

I was born and raised in Atlanta, Georgia. I am a child of the Southern part of the United States. I participated in civil rights demonstrations and I witnessed the Ku Klux Klan, armed and ready to fight—me! And because of my campaign for Congress, I got outside of Atlanta and had the opportunity to experience the rest of my beloved, though sometimes troubled, State of Georgia. However, it was not until my 2008 campaign for President that I toured—really toured—the geography of the United States outside of Georgia.

One of the cities that I visited was Detroit, Michigan: celebrated in U.S. lore as “Motown” and“The Motor City.” Detroit was the home of cultural icons like Aretha Franklin, the Cadillac car, and the Thanksgiving Day football team, the Detroit Lions. And that is how I knew Detroit—until I actually went there to visit and learned that, instead of being the shining City on a Hill, it was the exposed underbelly of the United States.

Next, A Little Detroit History

In 1968, when Dr. Martin Luther King, Jr. was assassinated as a result of a conspiracy that involved the United States government (1), cities that went up in flames. Only one year earlier, it had gone up in flames and it took authorities five days to quell the incident—pent up fatigue from police harassment and apartheid-like conditions that one would expect to find in the South. Almost fifty years later, I could still see the burned out buildings, still untouched, from those hot and devastating nights. House after house, block after block, neighborhood after neighborhood. I was shocked. The Motor City had become a grotesque caricature of its once grander self.

Despite rampant anti-Black prejudice and discrimination, Detroit was the place where Black people could work hard and enter the middle class—largely through working for one of the big three automobile manufacturers headquartered there. And drive the biggest, finest Cadillacs that General Motors made! That was the Detroit that I knew, but by 2008, it was just a memory.

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