SilverDoctors, Published on Oct 2, 2015
SilverDoctors, Published on Oct 2, 2015
zerohedge.com / by Tyler Durden on 10/02/2015 21:15
Amid the migrant crisis in Europe, and the Czechs pulling people off trains and writing on their arms, a French municipality launched a probe into an Auxerre elementary school’s use of yellow tags to identify students who do not eat pork. “It’s revolting. It brings back memories of dark times,” noted one member of the Auxerre town council, but the mayor’s office said it was “an isolated, clumsy and unfortunate initiative.”
acting-man.com / Pater Tenebrarum / October 2, 2015
No Lipstick Can be Thrown on this Pig
The markets have been hit with yet another negative economic surprise today, this time concerning the indicator that is thought to have the full attention of the representatives of Anglo-Saxon central banking socialism huddling in the Eccles building. The professional soothsayer class has once again failed to foresee this development, but we hereby predict that won’t keep it from continuing to apprise us of the results of its entrails readings.
Oh well, at least we will continue to get to make fun of the economic theory challenged “science is prediction” class of econometrists.
davidstockmanscontracorner.com / by Jeffrey P. Snider •
You get the same sense from factory orders that you get from payrolls – the economy is obviously and significantly slowing but there isn’t yet any crispness or urgency to any of it. I think that is the business environment reacting to both revenue reality (falling off) without being ready to commit to more serious negative adjustments just yet. In terms of factory orders, production is contracting but following along with an unbelievably constant , but extreme, inventory level. The fact that production needs to fall off just to maintain that suggests a huge downside if (once?) sentiment finally turns fully away from “transitory.”
Last month’s factory orders contraction was skewed by a huge surge in July 2014 on Boeing orders. With August, we can combine the two months to smooth out that rough fluctuation – it didn’t help. Year-over-year, orders declined 15.1% in July and 6.8% in August; cumulatively, the two-month total change is -11.1% showing that factories are indeed in a serious slump. The 6-month average remains at -7.5%, which is already comparable to the full dot-com recession.
zerohedge.com / by Tyler Durden on 10/02/2015 21:50
Can you tell truth from lies in mass media? RT’s Miguel Francis-Santiago delves deep to try to understand the intricacies of information war. He meets media experts and puts together the Mosaic of Facts, showing how public opinion is manipulated, not just over the Ukrainian Crisis but throughout the world.
theeconomiccollapseblog.com / By Michael Snyder on October 2nd, 2015
Did you know that 11 trillion dollars in global stock market wealth was wiped out during the third quarter of 2015? When I was emailed this figure by a friend, I was stunned for a moment. I knew that things were bad, but were they reallythis bad? When I first received this information, I had just finished a taping for a television show in which I had boldly declared that 5 trillion dollars of stock market wealth had been wiped out around the world. Unfortunately, the final number has turned out to be much larger than that. Over the past three months, the stock markets of all major global economies have been crashing simultaneously, and 11 trillion dollars of “paper wealth” has now completely vanished. The following comes from Fortune…
In light of this number, how in the world is it possible that there is still anyone out there that is claiming that “nothing happened” over the past few months?
In China, they sure aren’t claiming that “nothing happened”. Chinese stocks are down about 40 percent from the peak of the market.
In Germany, they sure aren’t claiming that “nothing happened”. As of a few days ago a quarter of all German stock market wealth had been wiped out since the peak earlier this year.
kingworldnews.com / Oct 2, 2015
With some wild trading action that saw the Dow end up 200 points higher while gold surged $25 and silver rose 5 percent, today one of the top economists in the world sent King World News an incredibly powerful piece warning that despite today’s rally there is more carnage ahead for global stock market and the U.S. dollar, but gold and silver will shine. Below is the fantastic piece from Michael Pento.
More Carnage Ahead For Stocks And The U.S. Dollar But Gold & Silver Will Shine
The September non-farm payroll report came in with a net increase of just 142,000 jobs. The unemployment rate held steady at 5.1 percent and the labor force participation rate dropped to the October 1977 low of 62.4 percent. Average hourly earnings fell 0.04 percent and the workweek slipped to 34.5 hours. There were significant downward revisions of 22,000 and 37,000 jobs for the July and August reports respectively…
Continue reading the Michael Pento piece below…
zerohedge.com / by Tyler Durden on 10/02/2015 20:40
Thanks to a variety of idiosyncratic political crises and country-specific stumbling blocks, Brazil, Turkey, Malaysia, and to a lesser extent Russia, have received the lion’s share of coverage when it comes to assessing the EM damage wrought by the comically bad combination of slumping commodities prices, depressed Chinese demand, slowing global trade, and a “surprise” yuan devaluation.
Put simply, the intractable political stalemate in Brazil, the civil war in Turkey, the 1MDB scandal in Malaysia (and the fact that the country was at the center of the 1998 meltdown), and the hit Russia has taken from depressed crude prices mean that if you want to pen a story about emerging market chaos, those four countries have plenty to offer in terms of going beyond the generic “falling commodities + a decelerating China = bad news for EM” narrative.
But just because other vulnerable countries aren’t beset with ethnic violence and/or street protests doesn’t mean they too aren’t facing crises due to falling commodity prices and the slowdown of the Chinese growth machine.
One such country is Australia, which in some respects is an emerging market dressed up like a developed economy, and which of course has suffered mightily from the commodities carnage and China’s transition away from an investment-led growth model.
Out with a fresh look at the risks facing Australia is RBS’ Alberto Gallo. Notable excerpts are presented below.
X22Report, Published on Oct 2, 2015
The Umpqua community college shooting has many unexplained anomalies, it is meeting all the requirements of a false flag. Obama using the shooting to push the UN Arms treaty and other gun laws. Kerry: time is running out in Libya, if the people do not do what we want there will be war. US shows sharp satellite photos in Syria compared to the black and white blurry pictures in Ukraine. US might attack Russia planes, and they are now telling Russia to stop the bombing.
davidstockmanscontracorner.com / by Anthony B. Sanders •
The September jobs report was nothing short of disastrous. Not only were far fewer jobs added than we expected, the jobs added were low wage, part-time jobs … such as bartenders and restaurant waitstaff.
Even worse, higher paying manufacturing jobs declined.
Any wonder why wage growth is so tepid?
zerohedge.com / by Tyler Durden on 10/02/2015 18:20
With the “above the law” Federal Reserve coming under increasing pressure to answer a Senate investigation’s questions about the 2012 “leak”, it appears the proximity of the probe to Janet Yellen, has forced The Fed to ‘fess up and throw someone under the bus. Meet Seth Carpenter, a nominee for assistant Treasury secretary for financial markets…
As The Wall Street Journal reports, probes into the 2012 leak of sensitive Federal Reserve policy information are widening further, with a Senate committee scrutinizing a former Fed official nominated for a position in the Obama administration.
zealllc.com / Adam Hamilton / October 2, 2015
Traders today universally believe inflation is dead, that there is no persistent decline in the purchasing power of money. That’s what government price indexes around the world are indicating. But this false notion is one of recent years’ main Fed-conjured illusions. Price inflation is the result of rising money supplies, and they have been skyrocketing. Serious risks are mounting that they will spill into price levels.
As simple as money seems, it is very complex in both theory and practice. We all understand the idea of working to earn money to buy goods and services. But the seminal treatise on money, the legendary economist Ludwig von Mises’ “The Theory of Money and Credit” published in 1912, weighed in at 445 pages! Money is a topic that endlessly preoccupies elite central bankers with doctorates in economics.
Money is ultimately a commodity, its value determined by its own fundamental supply and demand. If demand exceeds supply for any given currency, its price will rise relative to other currencies. As this money grows more valuable, it takes relatively less to buy goods and services. The persistent increase in the purchasing power of money, resulting in a persistent decrease in general price levels, is deflation.
Today systemic deflation is assumed and feared by traders around the world. They look at the various price indexes published by governments, which show either slowing increases in general price levels or slight decreases. They worry incessantly that the former disinflation will decay into the latter deflation. So the idea that there are big risks of serious inflation breaking out is hyper-contrarian heresy, widely ridiculed.
Yet think about the commodity of money. Deflation requires demand growth to exceed supply growth, which is clearly not happening. In this era of extreme central-bank easing globally, money supplies all over the world are literally skyrocketing! With supply growth radically outpacing demand growth, the only possible ultimate outcome has to be big inflation. There is always a reckoning for huge monetary expansion.
zerohedge.com / by Tyler Durden on 10/02/2015 19:30
Over the past several weeks, Americans (not to mention the market) were forced to grapple with the latest example of congressional infighting and outright legislative gridlock as US lawmakers narrowly averted a government shutdown in the wake of House Speaker John Boehner’s surprise resignation.
Now, the debt ceiling battle looms ahead of Boehner’s October 30 exit and according to Treasury Secretary Jack Lew, the US will run out of money to pay its bills far sooner than originally expected – November 5, to be exact. Here’s WSJ:
lewrockwell.com / By Patrick J. Buchanan / October 2, 2015
So Vladimir Putin in his U.N. address summarized his indictment of a U.S. foreign policy that has produced a series of disasters in the Middle East that we did not need the Russian leader to describe for us.
Fourteen years after we invaded Afghanistan, Afghan troops are once again fighting Taliban forces for control of Kunduz. Only 10,000 U.S. troops still in that ravaged country prevent the Taliban’s triumphal return to power.
A dozen years after George W. Bush invaded Iraq, ISIS occupies its second city, Mosul, controls its largest province, Anbar, and holds Anbar’s capital, Ramadi, as Baghdad turns away from us — to Tehran.
The cost to Iraqis of their “liberation”? A hundred thousand dead, half a million widows and fatherless children, millions gone from the country and, still, unending war.
How has Libya fared since we “liberated” that land? A failed state, it is torn apart by a civil war between an Islamist “Libya Dawn” in Tripoli and a Tobruk regime backed by Egypt’s dictator.
Then there is Yemen. Since March, when Houthi rebels chased a Saudi sock puppet from power, Riyadh, backed by U.S. ordinance and intel, has been bombing that poorest of nations in the Arab world.
Five thousand are dead and 25,000 wounded since March. And as the 25 million Yemeni depend on imports for food, which have been largely cut off, what is happening is described by one U.N. official as a “humanitarian catastrophe.”
X22Report, Published on Oct 2, 2015
Payroll and jobs report was a complete disaster. High paying jobs are continually being replaced by lowing paying jobs. Manufacturing jobs are declining and they are being replaced by part time jobs. Participation rate drops to the lowest since 1977. Factory orders decline and flash recession. US mint reports silver coins are in high demand. There is not enough currency to pay off the debt because there is 5 time more claims on dollars than there are dollars
zerohedge.com / by Tyler Durden on 10/02/2015 17:42
When the first reports began to trickle in regarding a possible Russian military buildup at Bashar al-Assad’s seaside stronghold at Latakia, the scramble to “prove” that forces from Moscow had indeed arrived in Syria led directly to a string of conflicting reports and grainy satellite images purporting to detail the scope of Russia’s involvement.
As the weeks went by, and as rumors of a Russian presence were confirmed by The Kremlin, the world became even more fascinated by the idea that Moscow has officially launched an air war in a foreign country. Indeed, Russia’s overt involvement on behalf of the Assad regime marks a change of strategy for Putin, who has been careful to dispel accusations that his forces are directly involved in the fighting in eastern Ukraine.
trueeconomics.blogspot.com / by Constantin Gurdgiev / October 2, 2015
Manufacturing PMIs for BRIC countries for September generally remained on the downward trend established some 7 months ago.
streettalklive.com / Lance Roberts / 01 October 2015
This past week saw the markets retest its lows. So far, those lows have held for now but the deterioration in market internals suggests that the danger is not over as of yet. As I stated earlier this week:
zerohedge.com / by Tyler Durden on 10/02/2015 17:31
For anyone who might still be confused as to what the official position of the US and its allies is with regard to Russian military operations in Syria, you’re in luck because Washington – in conjunction with Berlin, Paris, London, Doha, Ankara, and of course Riyadh – is now tweeting out foreign policy.
globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / October 02, 2015
Treasury Yields Drop Again
Curve Watcher’s Anonymous notes a further plunge in yields today following the disastrous payroll and factory order reports.
Yield on the 30-year long bond fell to 2.80% from 2.85% yesterday. Yield on the 10-year note once again sports a 1-handle at 1.97%, down from 2.03%.
kingworldnews.com / Oct 2, 2015
On the heels of another weak economic data release from the United States, a legendary chairman & CEO overseeing more than $165 billion, who is one of the most respected men in the financial world, revealed why the actions of central planners scares him.
Today legendary Robert Arnott (above), who oversees $165 billion, candidly discussed central planners.
Eric King: “Rob, we had a stock market crash in China and not too long ago the U.S. stock market gapped down 10 percent one morning. What are your thoughts as we go through this trouble that you said was coming?”
Rob Arnott: “What’s even more fascinating than a stock market crash after a bubble is the government trying to regulate falling markets out of existence. If somebody says to you, ‘If you sell, you might be arrested. If you recommend a sale, you might be arrested…
zerohedge.com / by Tyler Durden on 10/02/2015 16:06
We suspect more than a few traders will need this tonight…
First things first, we have this…
Chinese stocks (trading in US) rose 6.5% today – the biggest day since May 2010:
OCT 2/SILVER CONTINUES TO LEAVE THE SILVER COMEX/HUGE JOBS DISAPPOINTMENT CAUSES GOLD AND SILVER TO SHOOT NORTHBOUND/USA LABOUR PARTICIPATION NUMBER FALLS BY 579,000 PEOPLE/USA HAS 94.6 MILLION PEOPLE OFF THE LABOUR POOL/BRAZIL LOSES EQUIVALENT TO 2% OF GDP ON DOLLAR SWAPS/THE USA TED SPREAD RISES AGAIN SHOWING BANKS LOATHE TO LOAN TO EACH OTHER/
harveyorganblog.com / by
Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1136.60 up $22.90 (comex closing time)
Silver $15.26. up 76 cents.
In the access market 5:15 pm
I wrote the following last night and I guess I was right:
“As an alert to you, tomorrow is the FOMC jobs report. Although we all know that the results are phony, the bankers always use this opportunity to manipulate gold/silver. However judging from the poor regional surveys, the job growth number should be quite subdued.”
First, here is an outline of what will be discussed tonight:
At the gold comex today, on first day notice we had a very poor delivery day, registering 0 notices for nil ounces Silver saw 7 notices for 35,000 oz.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 213.08 tonnes for a loss of 90 tonnes over that period.
In silver, the open interest rose by 281 contracts despite the fact that silver was unchanged in price yesterday. The total silver OI now rests at 157,625 contracts In ounces, the OI is still represented by .788 billion oz or 113% of annual global silver production (ex Russia ex China).
In silver we had 7 notices served upon for 35,000 oz.
In gold, the total comex gold OI rose to 419,016 for a gain of 1937 contracts. We had 0 notices filed for nil oz today.
We had another huge addition in tonnage at the GLD to the tune of 1.78 tonnes; thus the inventory rests tonight at 689.20 tonnes. The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. It sure looks like 670 tonnes will be the rock bottom inventory in GLD gold. It looks to me that China has taken the last amounts of physical gold from the GLD. I guess the only place left for China to receive physical gold will be the FRBNY and the comex. In silver, we had no changes in silver inventory at the SLV/ Inventory rests at 318.529 million oz.
We have a few important stories to bring to your attention today…
ChrisMartensondotcom, Published on Oct 2, 2015
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