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Silver Shortage to be Exacerbated By New Design for 2016 Silver Eagles?

SilverDoctors, Published on Oct 2, 2015

“It’s Revolting” French School Probed After Marking Non-Pork-Eaters With Yellow Tags / 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.”

As Haaretz reports,

The city of Auxerre, located 105 miles southeast of Paris, opened the investigation on Friday after parents complained to local media about the school’s initiative, in which neck strings bearing red and yellow plastic discs were placed on pupils ahead of lunchtime at the school cafeteria.

The pupils wore the tags for one day before the faculty was instructed to stop using them.


A Spot of Unenjoyment / 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.


Factory Slump Intensifies——Six Months Y/Y Is Now Down 7.5% / 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.


A Mosaic Of Facts – Media Weapons Of Mass Delusion / 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.



Yes, This Is A Financial Crisis – 11 TRILLION Dollars In Stock Market Wealth Was Wiped Out In The 3rd Quarter / 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

Global equity markets suffered a bruising third quarter, shedding $11 trillion worth of global shares over three months, according to Bloomberg.

It was the market’s worst quarter since 2011. The prolonged slump was due to low prices for commodities such as oil, instability in China’s markets, and the anticipation that the U.S. Federal Reserve will soon raise interest rates.

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.


Despite Today’s Rally, More Carnage Ahead For Global Stock Markets And The U.S. Dollar But Gold And Silver Will Shine / 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.

By Michael Pento of Pento Portfolio Strategies
October 2 – (King World News)

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…


Australia Is “Going Down Under”: “The Bubble Is About To Burst”, RBS Warns / 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.


There Are Many Unexplained Anomalies In The Latest Oregon Shooting – Episode 781b

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.

Bartenders And Wait Staff Dominate Jobs Added, Manufacturing Jobs Decline (Fed’s Fischer See No Bubbles) / 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?


Meet Seth Carpenter – Janet Yellen’s Choice Of “Fed Leak” Scapegoat / 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.

The Senate Finance Committee has been looking into whether the official, a Treasury Department nominee who worked as a top Fed economist at the time of the leak, relayed market-sensitive information from the Fed to policy research firm Medley Global Advisors, which in turn shared the details with its Wall Street clients, according to people familiar with the matter.

The Senate committee is looking into whether Seth Carpenter, a nominee for assistant Treasury secretary for financial markets, played a role in the 2012 leak. The panel is charged with approving nominees to senior-level positions at the Treasury Department.


Fed’s Serious Inflation Risks / 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.


Sept. Jobs Report Confirms Weakening Labor Market

Peter Schiff, Published on Oct 2, 2015

Why The US Running Out Of Cash In 4 Weeks Is Good News / 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:

The government will run out of money to pay its bills sooner than previously thought, forcing Republican lawmakers who are already scrambling to elect new leaders to immediately confront a series of unpopular fiscal deadlines.

Treasury Secretary Jacob Lew said the government would be left with just $30 billion cash on or around Nov. 5. Government outlays can be twice that level on certain weekdays, underscoring the need to raise the federal borrowing limit, Mr. Lew said in a letter late Thursday to House Speaker John Boehner (R., Ohio).

“Without sufficient cash, it would be impossible for the United States of America to meet all of its obligations for the first time in our history,” Mr. Lew said in the letter.

The new debt-ceiling deadline falls less than a week after Mr. Boehner will leave Congress, putting pressure on him—and an incoming Republican leadership team—to pass legislation raising the limit before that transition. Some congressional estimates had indicated the government could get by without action until December. Traders and Wall Street analysts are watching the timeline closely due to the turbulence that hits financial markets as debt-limit deadlines approach.


The Mind of Mr. Putin / 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.”


If You Are Not Prepared For The Economy Crashing Please Do So Now – Episode 781a

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

Presenting A First-Hand Look Inside Russia’s Forward Operating Base In Syria / 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. 


2/10/15: BRIC Manufacturing PMI: 7th month of Sectoral Recession in September / by Constantin Gurdgiev / October 2, 2015

Manufacturing PMIs for BRIC countries for September generally remained on the downward trend established some 7 months ago.

  • I have covered Russian Manufacturing PMI earlier here with index reading signalling slower rate of decline in the sector activity in September, rising to 49.1 from 47.9 in August. This is the highest reading in the series since February 2015, but marks 10th consecutive month of sub-50 readings.
  • China Manufacturing PMI was covered in detailhere showing a strong signal of continued deterioration in the economy.
  • Meanwhile, Brazil posted a rise in Manufacturing PMI from horrific 45.8 in August to ugly 47.0 in September. This was the eighth consecutive month of sub-50 readings in Brazil Manufacturing sector, with extremely weak performance setting in back in Q 2014 and continuing basically without interruption since then.


Weekend Reading: Capacious Cognitions / 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:

“As you will notice, the reflexive rally, and subsequent failure, have tracked the original predictions very closely up to the point.

With the market once again very oversold on a short-term basis, it is likely that the markets could manage a weak rally attempt over the next few days. The good news is that such an attempt will provide individuals another opportunity to reduce portfolio risk accordingly.”


Foreign Policy In 140 Characters Or Less: US Ambassador Tweets Warning To Russia / 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. 


Hikes Keep On Slippin’, Slippin’, Slipin’ Into the Future; Treasury Yields Sink Again / 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%.

Duration Current Yield Yield Month Ago Yield Year Ago Yield vs. Month Ago Yield vs. Year Ago
3-Month -0.01 0.02 0.02 -0.03 -0.03
6-Month 0.05 0.26 0.05 -0.21 0.00
1-Year 0.22 0.35 0.10 -0.13 0.12
2-Year 0.57 0.73 0.27 -0.16 0.30
5-Year 1.27 1.55 1.73 -0.28 -0.46
10-Year 1.97 2.18 2.42 -0.21 -0.45
30-Year 2.80 2.99 3.18 -0.19 -0.38


Legend Who Oversees $165 Billion Reveals Why The Actions Of Central Planners Scare Him / 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…


The Farce Is Complete: Stocks Soar Most In 4 Years As US Job Market Disintegrates / 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:



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

Gold $1137.90

Silver: $15.24

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…


Jeffrey Brown: To Understand The Oil Story, You Need To Understand Exports

ChrisMartensondotcom, Published on Oct 2, 2015