Sunday, January 19, 2020

SAFEST GOLD VAULT IN THE WORLD

by Egon Von Greyerz, Gold Switzerland:

This week I will discuss Fed bubbles and a potential imminent major market event, including an extremely important chart and also the safest private gold vault in the world. But first, last week was overshadowed by Iraq and Iran, which again has reminded us of terrorism in various forms.

Terrorism is not just an act of violence. Cyber attacks can have devastating effects like paralysing air traffic or making all your digital assets disappear.

The Genius of JPMorgan – Ted Butler

by Ted Butler, Silver Seek:

Yesterday, JPMorgan Chase, the largest bank in the US, reported record earnings of $8.5 billion for the fourth quarter and roughly $35 billion for the full year. These are net profits, after all expenses and costs are subtracted from gross revenues. It is no understatement to call JPMorgan a profit-generating machine.

My interest in the bank, of course, comes from the perspective of gold and silver. The connection is that JPMorgan is the largest player, by far, in all aspects of gold and silver. Always among the top players in the gold and silver space for decades, what pushed JPMorgan to the very top was its takeover of Bear Stearns in 2008 which resulted in JPM taking the place of Bear as the largest short seller in COMEX gold and silver futures.

New York Fed Considering Becoming Sugar Daddy to Hedge Funds as their Distress Grows

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

It’s apparently not enough of a billionaire subsidy for the U.S. Treasury’s Internal Revenue Service to give a monster tax break to hedge fund titans by allowing them to pay Federal taxes on the basis of “carried interest,” meaning that they have a special loophole to pay a lower tax rate than many school teachers, nurses and plumbers. Now, according to an article in the Wall Street Journal, the Federal Reserve is actually considering opening its super-cheap repo loan money spigot to hedge funds. It doesn’t get any crazier than this.

Morphing from a central bank mandated to set monetary policy on the basis of maximum employment and stable prices, to the lender-of-last-resort to the criminally-charged trading houses on Wall Street and now, potentially, to the insider-trading/Big Short hedge funds, the New York Fed has totally lost its way if not its mind. (Unless, as many suspect, the New York Fed is simply the poorly-disguised money puppet of the one percent.)

Lebanese ‘Week Of Wrath’ Sees Banks Physically Attacked On Large Scale

from ZeroHedge:

Lebanese banks are limiting account holders to withdrawing a mere $100 of their own money at a time (and just $200 total a week) after the country’s banking crisis due to eroding liquidity and central bank’s looming default have been at the center of mass anti-corruption street protests since October of last year.

“There is a lot of anger,” one Lebanese protester told the AFP on Thursday. “You have to go to the bank twice to withdraw just $200.”

IMPEACHMENT TRIAL BEGINS TODAY

by Harvey Organ, Harvey Organ Blog:

IMPEACHMENT TRIAL BEGINS TODAY//GOLD DOWN $3.00 TO $1550.60//SILVER DOWN 2 CENTS TO $17.94//COMEX GOLD WITNESSES ANOTHER RECORD AT 798,000 PLUS CONTRACTS//TRUMP THREATENED EUROPE WITH A 25% AUTO TARIFF IF THEY DID NOT CALL ON IRAN FOR BREACH OF ITS TERMS//TURKISH JETS VIOLATE GREEK AIRSPACE 91 TIMES YESTERDAY///TRUMP GOING AFTER MR BLOOMBERG AND THE FRAUDULENT HFT TRADING//ALL FORMS OF USA FREIGHT DOWN BADLY//MORE SWAMP STORIES FOR YOU TONIGHT

Democratic Presidential Candidates Are Trying to Pull this “Fast One” On Your Retirement Savings

from Birch Gold Group:

No matter what you think of him, there’s no denying that Bernie Sanders is a man on a singular mission.

As part of one of his far-reaching proposals, The Inclusive Prosperity Act of 2019, the Senator aims to “cancel every penny of student debt.”

For many on the left, the concept has been popular enough to garner Sanders significant support; so much so that he’s recently been polling in the top two for the Democratic nomination for president.