Sunday, January 19, 2020

‘World Economy Would Collapse’ If City of London Stopped Laundering Money, Says HSBC Whistleblower

from Sputnik News:

Britain is due to leave the European Union later this month but there is no sign of banks quitting the City of London, one of the main claims made by Remainers in the run-up to the Brexit referendum. But are the wheels of the City of London only kept turning by laundered money?

Nicholas Wilson, a financial services whistleblower who was fired by UK law firm, Weightmans, after exposing millions of pounds in unfair customer charges, claims the City of London relies on “dirty money” and says the world economy would collapse if the City stopped laundering it.

Earnings Season

by Bob Rinear, The International Forecaster:

Over the next two – three weeks we’re going to hear from thousands of companies. If you’re holding individual stocks, it is worth your while to look up their earnings releases and maybe selling out a day ahead of their reports.

Every few months throughout the year, we have to endure something called Earnings season. Actually it’s 4 times, and they follow the 1st, 2nd, 3rd and 4th quarter of the calendar year.

Earnings season is where the corporations tell the public how their business is going, how sales were, how expenses were, and the bottom line, how much profits rose ( or fell)

We are at the beginning of Earnings season now, and one of the “rules” of swing trading that I have lived by for over 25 years is “Don’t hold your stock over earnings release date.” So let’s chat about that in a minute. First this:

Gold Mining Stocks Broaden Their Appeal — With Dividends

by John Rubino, Dollar Collapse:

No one interested in current income buys gold mining stocks because those stocks are traditionally all about capital gains. As ‘leveraged plays on the price of gold,’ the miners work this way:

Let’s say gold is $1,000 per ounce and a hypothetical miner produces a million ounces annually, eking out a net profit of $10 million, or $10 per ounce produced. There’s no money here for dividends, obviously, and virtually nothing for capex. Someone hoping for current income would have zero interest in such a stock.

But let the gold price rise by $100 per ounce, or 10%, and the miner’s profit jumps by 900%, to $110 per ounce. In most market environments the stock of such a company will rise, which is the outcome most capital gains-oriented investors want.

Keiser Report: What Came First, the Chicken or the Fed? (Ep 1489)

from RT:

In the second half, Max talks to Craig Hemke of TFMetalsReport.com about the latest in the gold market as Trump renews hostilities in the Middle East and the central bank continues pumping money into markets

No Matter How Much Money the Fed Prints, We Still Can’t Afford Nice Things

by Charles Hugh Smith, Of Two Minds:

When will the American wage-earner finally tire of the skims, scams, fraud and lies that are now the foundations of everyday life?

You’d think that with the Federal Reserve printing trillions of dollars since 2008, we’d all be able to afford nice things. But you’d be wrong: after 11 years of Fed money-printing, nice things are even more out of reach for all but the favored few who’ve received the Fed’s bounty of freshly created currency.

FLYNN WITHDRAWS HIS GUILTY PLEA

by Harvey Organ, Harvey Organ Blog:

GOLD UP $9.55 TO $1553.60//SILVER UP 21 CENTS TO $1796//HUGE ISSUANCE OF EX.FOR PHYSICALS IN BOTH GOLD/SILVER//USA AND CHINA SIGN PHASE ONE FOR THEIR TRADE DEAL AND THEN TRUMP WANTS MORE RESTRICTIONS ON HUAWEI PRODUCTS//EUROPE TRIGGERS “DISPUTE MECHANISM” ON THE IRAN NUCLEAR DEAL WHICH MAY LEAD TO INCREASED SANCTIONS BY EUROPEANS ON IRAN: ROUHANI THOROUGHLY ANNOYED AND VOWED REVENGE//FLYNN WITHDRAWS HIS GUILTY PLEA//MORE SWAMP STORIES FOR YOU TONIGHT

China’s Gold Hoarding: Will It Cause the Price of Gold to Rise?

by Jan Nieuwenhuijs, Voima Gold:

There are reasons to think that the gold price will rise faster than expected.

Since 2009 China has withdrawn 12,000 tonnes of gold from the rest of the world, where the short and medium-term gold price is set. For reasons I will explain, a tighter market outside of China can make the price of gold price rise faster than many expect. I believe the gold price will rise, because of excessive debt levels around the world, and incessant money printing by central banks. Central banks will try and resolve the debt burden through currency depreciation (inflation). China has been preparing for this scenario by buying gold.

Medical Care Costs Soaring Out of Control

by Mish Shedlock, The Maven:

The cost of medical care services dramatically outpaces stated CPI inflation measures.

Once again the BLS tells us inflation is under control. Once again, close inspection suggests something else.

Let’s investigate, starting with the BLS Consumer Price Index Report for December 2019.

  • According to the BLS, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent in December on a seasonally adjusted basis after rising 0.3 percent in November.