Saturday, June 6, 2020

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Foreign Buyers Made Me Do It: Canada Reflects Back on its Housing Bubble

by Stephen Punwasi, Wolf Street:


A massive survey of recent homebuyers reveals all.

Have you ever woken up after a night of drinking, and only had a vague recollection of what happened? Then your responsible friend sets off a chain of text messages, trying to figure out where you went wrong? Well that’s what the Canadian real estate industry just did, and man-o-man did people screw up. The Canada Mortgage and Housing Corporation (CMHC), the Crown corporation in charge of mortgage liquidity, conducted a massive survey of recent buyers in Toronto, Vancouver, and Montreal. After getting drunk on exuberance, buyers indulged in a little too much borrowing, blaming everything from land scarcity to foreign buyers for the bidding wars they entered.

EU Globalists and Chinese Communists Team Up To Protect NWO

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by Christian Gomez, The New American:

On Monday, European Union leaders announced that officials from the EU and China were coming together to strengthen and protect their international trade relations from Trump’s “America First” agenda.

Jyrki Katainen (shown, left), the vice-president of the EU’s ruling and unelected European Commission, said during an interview aired on CNBC Monday morning, “I feel really we are making progress…. Both China and the EU believes in multilateralism and a rules-based world order.”

Leaked Note By Chinese Think Tank Warns Of Potential “Financial Panic”

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from ZeroHedge:

It’s not just Trump who is concerned about the level of the S&P as a result of escalating trade war with China: it appears that China is growing worried as well, and for good reason – as we noted earlier, the Shanghai Composite already tumbled to a bear market from its highs 6 months ago, a drop which comes at a very precarious time for China whose economy is slowing amid an aggressive deleveraging campaign, corporate defaults are rising, and the all important credit impulse is waning.

Confirming as much, this morning Bloomberg reported of a leaked report from a Chinese government-backed think tank which warned of a potential “financial panic” in the world’s second-largest economy, “a sign that some members of the nation’s policy elite are growing concerned as market turbulence and trade tensions increase.”

Why Would China Allow The Gold Price To Be Suppressed?

by Chris Marcus, Miles Franklin:

If the precious metals markets are manipulatively suppressed lower as many allege (and as court records and other sources document with evidence), one of the questions many often raise is why would China allow this to occur?

Many look at the developments with the Yuan (such as the creation of the PetroYuan, its possible use as a reserve currency, and the launching of a Yuan-backed precious metals contract) as well as the large amounts of gold that China continues to accumulate, and wonder why they would allow the prices to be suppressed lower.

Yet a recent article from the Russia Times titled, “US paper gold suppression allowing Russia & China to buy real gold at discount prices” explained my understanding of what’s occurring rather succinctly.

While Many On The Right Are Sleeping, Many On The Left Are Promising To Bring War To The Streets Of America

by Michael Snyder, The Economic Collapse Blog:

You might want to start taking the radical left seriously.  When they tell us “you ain’t seen nothin’ yet” and that “this is just the beginning”, they are making threats that they intend to back up.  There have been other times in modern American history when the left has resorted to physical intimidation and violence, but I believe that what is coming is going to far surpass anything that we have ever experienced before.  Of course not everyone agrees with me.  On Monday I authored a piece about the “civil war” that is rapidly approaching, and there were some that loudly criticized me for it.  They insisted that we didn’t have anything to worry about from the left and that I was blowing things out of proportion.  As you read the rest of this article, I hope that everyone will start to see that I am not exaggerating the threat one bit.  And what we should all be able to agree on is that the radical left is super energized right now.  Just look at what happened on Tuesday.  28-year-old radical socialist Alexandria Ocasio-Cortez absolutely crushed 10-term congressman Joe Crowley in a Democratic primary in New York.  She was outspent 18 to 1, and in normal times something like that would never happen.

HUGE CHANGES IN THE GLD IN ONE DAY: FIRST A DEPOSIT OF 4.42 TONNES AND THEN A WITHDRAWAL OF 2.94 TONNES

by Harvey Organ, Harvey Organ Blog:

NO CHANGE IN SILVER INVENTORY AT THE SLV/GOLD WHACKED AGAIN DOWN $3.60 TO $1254.60 WITH SILVER DOWN ANOTHER 8 CENTS TO $16.18 AS OPTIONS EXPIRY FOR OTC/LONDON ENDS THIS FRIDAY/THE LEFT GO ON A RAMPAGE AS SUPREME COURT JUSTICE KENNEDY IS RETIRING: HE IS A MODERATE ON THE BENCH/CHINESE YUAN DEVALUES AGAIN TO 6.61 TO THE DOLLAR/DEUTSCHE BANK’S STOCK FALLS BELOW 9 EUROS FOR THE FIRST TIME AS INVESTORS ARE BAILING/IN SWAMP NEWS, REPUBLICANS DEMAND DOCUMENTS OR IF NOT COMING THEN ROSENSTEIN WILL BE IMPEACHED

Will the Fed Land the One-Two-Three Punch to the Markets

by Pam Martens and Russ Martens, Wall St On Parade:

Despite President Donald Trump’s leanings toward authoritarianism, he is likely to learn a hard truth this year and next – that the Federal Reserve can make or break his presidency by delivering up to three different gut punches to the markets, which are very likely to spill over into the economy. And without a good economy, even Trump’s most fervent supporters may begin to doubt his omnipotence.

For starters, next Monday the Federal Reserve is scheduled to shrink its purchases of U.S. Treasury securities and Federal agency debt and mortgage-backed securities by another $10 billion a month, from a shrinkage of $30 billion to $40 billion. And by October 1 of this year, the Fed will move from draining $40 billion a month from the markets to draining $50 billion, according to its previously announced schedule. (See chart below.) At the rate of $50 billion a month, that’s $600 billion less in market accommodation from the Fed.

TOP STORY: Clinton Donor Clare Bronfman ‘Expects To Be Indicted’ In Sex Cult Child-Trafficking Case

by Patrick Howley, Big League Politics:

Hillary Clinton presidential campaign donor Clare Bronfman, heiress to the Seagrams fortune, “expects to be indicted by late July” in the NXIVM sex cult case.

NXIVM leaders Keith Raniere and “Smallville” actress Allison Mack were arrested in Mexico and stand trial for human trafficking, child sex trafficking, and other crimes. Raniere is being held without bail while Mack is in the custody of her parents with an ankle bracelet. Bronfman, who oversaw the group’s experiments on women and children at their secretive “Rainbow Cultural Center,” is expected to be charged.

Charles Hurt reported that in the spring of 2007, “executives and top associates…along with their family members” of NXIVM donated $29,900 to the Hillary Clinton2008 presidential campaign.

The West Line Is Telling Us Where We Are Headed

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by Tom Chatham, Alt Market:

The west line theory states that the shipping center of the world moves in a westward direction slowly over the centuries. It started in the mid east and has moved west through the Mediterranean, Europe, North America and now sits over Asia. A shipping center usually implies a production center as well giving that area great wealth. The U.S. was the previous shipping and production center in the world. We now find ourselves on the back end of prosperity and all that it entails.

We are not the first nation to find ourselves in this position. Those nations that came before us had to deal with a slower, smaller economy following the westward shift of the line. We must now do so as well. Understanding this phenomenon allows people to adjust their lifestyles to maintain a good standard of living. To ignore this natural process is to invite much suffering and chaos into your life as everything changes around you while you remain static expecting things to continue as usual.