from ITM Trading:
by Michael Snyder, The Economic Collapse Blog:
The middle class has been steadily shrinking, but most Americans still believe that they are a part of it. Perhaps this is due at least in part to the egalitarian values which have been pounded into our heads for most of our lives. Very few Americans would have the gall to define themselves as “upper class”, and I have never met anyone that would describe themselves as “lower class”. In place of “lower class”, many politicians now like to use the much more politically correct term “working class”, but a more apt description might be “the working poor”. Today, half of all American workers make less than $30,533 a year, and you certainly cannot support a middle class lifestyle for a family with children on that kind of income.
by David Schectman, Miles Franklin:
If one offered investors a fat tail put option that never decays or expires, costs about -1% pa to carry, has no counter party risk & no chance of ever becoming worthless, there would be a line out the door. But when one explains that this option is physical gold… no interest. – JSMineset
For a decade our stock market has gone up and up. All corrections were short-lived and a move to higher levels was always in the cards. In contrast, gold/silver have retreated from their 2011 all-time highs for 7 plus years … either retreating, going sideways, or failing to recover to any meaningful areas and holding them. In general exiting positions in our stock market to enter the precious metals arena has not paid off … with a few exceptions, of course. The point is that should our stock market go into an extended bear market, it is likely to send a wave of investors from the US into the dormant precious metals.
by Birch Gold Group, via Alt Market:
Looks like the yield curve the Fed swept under the rug back in June continues to prove itself a reliable potential signal for market correction.
On Tuesday, the Dow Jones continued to trend downward since October 3, dropping 800 points. After a tumultuous ride on Thursday, the index ended the week on Friday by dropping another 550 points.
An article over at MarketWatch highlighted the yield curve between 2-year and 10-year treasury notes as one potential signal of Tuesday’s drastic drop:
by Adrian Zmudzinski, Coin Telegraph:
The United Arab Emirates’ (UAE) central bank is collaborating with the Saudi Arabian Monetary Authority (SAMA) to issue a cryptocurrency accepted in cross-border transactions between the two countries. English-language Dubai-based media outlet GulfNews reported on this collaboration on Dec. 12.
by Tom Lewis, Gold Telegraph:
According to the founder of the world’s largest hedge fund, Ray Dalio the US dollar could soon fall as much as 30% which could leave it looking like the Turkish Lira. The chairman of Bridgewater Associates, Ray Dalio has warned that the US economy is on the verge of a major currency crisis due to the unaffordable buildup of debt.
Dalio warned recently in an interview through Bloomberg that the US might have to go through a similar type of inflationary debt crisis which is currently being suffered by emerging market economies like Argentina and Turkey.