Tuesday, November 12, 2019

World’s Ultra-Rich Preparing For Market Crash, UBS Warns

from ZeroHedge:

A synchronized global slowdown, with no end in sight, has spooked some of the wealthiest investors around the world, according to a new survey from UBS Wealth Management, seen by Bloomberg. UBS polled wealthy investors, who are preparing for a significant stock market correction by the end of next year.

The Fed’s Repo Bailout and JPMorgan’s 38 Trading Floors

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

Since September 17 of this year, the central bank of the United States, the Federal Reserve, has been pumping hundreds of billions of dollars each week to unnamed trading firms on Wall Street. We know the loans are going to trading firms because the loans are being made to the 24 primary dealers (see list below) with whom the New York Fed conducts open market operations. (The list includes one foreign bank and 23 stock brokerage houses and investment banks.) The New York Fed has publicly disclosed that the loans are going to primary dealers but will not say which firms are getting the bulk of the money.

Don’t Let the Democrats Bring It Here! Oligarchs Push to Make EU’s European Investment Bank, Major World Lender, into ‘Climate Bank’

by Harley Schlanger, LaRouche PAC:

A fight has broken out in Europe over a move driven by London-centered environmentalist foundations, to make the world’s largest multilateral financial institution—the European Investment Bank (EIB)—into something called a “climate bank” which would be used to stop all investments into fossil fuels and “carbon-based” technologies by next year. If pushed through, it would put European Union’s EIB, in harness with big central banks—Bank of England, European Central Bank—trying to deindustrialize Europe completely by denying energy and industry credit except for wind and solar farms. Even the German government, notorious for shutting down nuclear and coal-fired power, refuses to back this move, as does the Italian government.

BANK RUN IN LEBANON AS CITIZENS STORM THE BANKS WITH GUNS

by Harvey Organ, Harvey Organ Blog:

GOLD DOWN $5.70 TO $1456.50 AND SILVER DOWN 3 CENTS TO $16.84 ON ANOTHER RAID DAY//OPEN INTEREST IN GOLD REMAINS QUITE ELEVATED//HUGE EXCHANGE FOR PHYSICAL DAY FOR GOLD//PROTESTS CONTINUE IN HONG KONG WITH ONE PROTESTER SHOT//COUP IN BOLIVIA/BANK RUN IN LEBANON AS CITIZENS STORM THE BANKS WITH GUNS//NIGEL FARAGE CHANGES TUNE AND NOW WILL RUN ONLY IN SEATS NOT HELD BY CONSERVATIVES //SWAMP STORIES FOR YOU TONIGHT

Is The ‘Mother of all Bubbles’ About to Pop?

by Ron Paul, Ron Paul Institute:

When the New York Federal Reserve began pumping billions of dollars a day into the repurchasing (repo) markets (the market banks use to make short-term loans to each other) in September, they said this would only be necessary for a few weeks. Yet, last Wednesday, almost two months after the Fed’s initial intervention, the New York Federal Reserve pumped 62.5 billion dollars into the repo market.

ETF Gold Holdings Hit Another Record High

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by Peter Schiff, Schiff Gold:

Gold continued to flow into ETFs after breaking a record in September. Gold-backed funds took in another 44.4 tons of metal in October, pushing global holdings to another record of 2,900 tons, according to the latest data by the World Gold Council.

The previous record for ETF gold holdings was set back in 2012 when the price of gold was near $1,700 per ounce.

Global ETF holdings have grown by 421 tons year-to-date, a 14.4% year-on-year increase.

Chinese central bank gold buying – On a need to know basis

by Ronan Manly, BullionStar:

After announcing monthly gold purchases for ten straight months between December 2018 and September 2019, the Chinese central bank, the People’s Bank of China (PBoC), has now paused buying for its strategic gold reserves.

At least that’s according to October figures from the State Administration of Foreign Exchange (SAFE), China’s currency management agent, which each month announces the value of China’s foreign exchange and gold holdings for the previous month-end.

Given the pause or halt last month in China’s gold accumulation, the strategic gold reserves of the People’s Republic of China (PRC) now remain unchanged at 1948 tonnes for October. But for ten months back-to-back between December and September, the Chinese central bank claims to have added a total of 106 tonnes of monetary gold to its reserves, taking China’s strategic gold stockpile from a reported 1842 tonnes at the end of November 2018 to the current total of 1948 tonnes.

Illiquidity & Gold And Silver In The End Game

by Darryl R. Schoon, Market Oracle:

the financial system experienced some serious liquidity shortages in August 2007, and the Fed injected funds to help keep financial markets operating effectively so that they would continue to support ongoing economic activity
Federal Reserve Bank of San Francisco, August 2007

In August 2007, a credit crunch swept global markets forcing central banks to provide billions in emergency liquidity to ensure markets remained functioning. Despite the emergency infusion, financial markets and investment banks collapsed one year later in the greatest financial crisis since the 1929 stock market crash and the Great Depression of the 1930s.

Danske Bank Caught Using Gold Bullion to Launder Illicit Funds

by Jamie Redman, Activist Post:

The Danish financial institution Danske Bank has been embroiled in a massive money-laundering scandal associated with an Estonian branch that allegedly laundered $223 billion in an eight-year period. According to documents uncovered this week stemming from 2012, Danske Bank’s Estonian branch let a select group of clients from Russia convert their money into gold bullion in order to help hide funds.

Hyperinflation Watch: Crab Sells For Record $46,000 (Dollars), Crushes Prior Record (2018) Of $18,000

from Silver Doctors:

Hungry? This 2.5 pound (1.2 kilo) crab’s got “long legs, fat, solid meat filling and rich creamy innards”…

Hyperinflation starts at the periphery, at the low end and at the high end.

At the low end, in the United States, I’ve seen tiny-little bags of no-name, generic laundry detergent at Dollar General, in locked cases!

Oh yeah, it was several years ago when I saw that too.

Has anybody else seen this kind of stuff?