Wednesday, November 13, 2019

Billionaire Druckenmiller: “Can we try capitalism? Real capitalism. Give it a chance”

by Simon Black, Sovereign Man:

Over the weekend I came across a recent speech given by hedge fund billionaire Stanley Druckenmiller that really lays out the pitiful state of free markets around the world.

Druckenmiller gave the speech a few months ago upon receiving the 2018 Alexander Hamilton award– which is given to a figure that best carries out the spirit of one of America’s Founding Fathers.

The Alexander Hamilton Institute promotes free markets, free trade and limited government.

US Money Supply and Fed Credit – the Liquidity Drain Becomes Serious

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by Pater Tenebrarum, Acting Man:

US Money Supply Growth Stalls

Our good friend Michael Pollaro, who keeps a close eye on global “Austrian” money supply measures and their components, has recently provided us with a very interesting update concerning two particular drivers of money supply growth. But first, here is a chart of our latest update of the y/y growth rate of the US broad true money supply aggregate TMS-2 until the end of June 2018 with a 12-month moving average.

Solutions without Historical Templates: Cryptocurrencies and Blockchains

by Charles Hugh Smith, Of Two Minds:

Crypto-blockchain technologies are leveraging the potential of computers and the web for direct political-social innovation.

We’re accustomed to three basic templates for system-wide solutions or improvements:

1. an individual “builds a better mousetrap” and starts a company to exploit this competitive advantage;

2. a company invents something that spawns a new industry (the photocopier, the web browser, for example) and/or disrupts existing business models;

Housing Market Collapse 2.0 Has Begun

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by David Haggith, The Great Recession Blog:

A summer storm is gathering against the housing market all across the US. More than a year ago, I predicted the collapse of Housing Bubble 2.0 and then predicted as soon as the housing market collapse had begun that it would see temporary reprieve until the summer of 2018.

Well, that reprieve has ended … two months ahead of the schedule I suggested as an outlier. The storm clouds are now evident across the entire nation. More importantly, lightning is already striking in the nation’s healthiest housing markets.

New-home construction deconstructs the housing market

New-home-construction starts are down 12.3% nationwide to a nine-month low due to the largest single-month drop in more than year and a half. That is a huge sign of a nationwide housing market collapse when you consider that this is the time of year when housing is usually on a tear because weather allows construction everywhere. Instead, construction in the US is down … way down … EVERYWHERE.

The explosive questions the gold riggers won’t answer-and the press won’t ask

by Dave Kranzler, Investment Research Dynamics:

Over the years, I’ve asked several skeptics of the idea that Central Banks and Governments, using the bullion banks as their agents, manipulate the gold price this question:   The Big Banks have been convicted and fined numerous times for manipulating interest rate and currency markets.  Is it realistically conceivable given this fact that they would leave the gold market alone?  The question, of course, is rhetorical and I’ve yet to receive an answer.

The answer is obvious to anyone who has looked at the facts.  I have written several articles with Paul Craig Roberts detailing how the manipulation is executed on the Comex and the motivation behind the manipulating the gold market.  Remarkably, there are public notes of a meeting chaired by Henry Kissinger in 1974  that discusses the importance of removing gold completely from the monetary system which is conveniently ignored.

How A Central Bank Caused One of History’s Biggest Cons

by George Pickering, Mises:

In the summer of 1821, a roguish Scotsman named Gregor MacGregor arrived by boat in London, and initiated arguably the most audacious confidence scam in history. MacGregor had spent much of the previous decade fighting as a soldier of fortune in the Venezuelan War of Independence, where he had manoeuvred his way up the ranks, eventually being promoted to general by Simón Bolívar. At some point during this period, local Central American rulers had granted MacGregor a large tract of land, most of which took the form of uninhabitable, malaria-ridden swamp along the Black River, in modern-day Honduras. Despite the poor economic prospects of his new acquisition, MacGregor was determined that the land should be his ticket to fortune, even if that required unconventional measures.

Government Inflation Metric Hits Highest Level In 6 Years

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by Chris Marcus, Miles Franklin:

Last week the Wall Street Journal reported that one of the most commonly viewed inflation metrics rose by 2.9%, as compared to June from a year earlier. Which is certainly alarming in its own right, although perhaps even more so when you read between the lines of the somewhat biased government numbers.

To be clear, I personally stopped putting all that much stock into the BLS numbers that Wall Street looks at about a decade ago after learning how the formulas are revised, and how politicized they have become. Yet to the degree that the numbers are created, published, and then many people respond, it is interesting to think about some of the takeaways of this latest report.

GOLD REBOUNDS TO SETTLE UP 40 CENTS TO $1228.00/SILVER RETREATS BY 3 CENTS TO $15.57

by Harvey Organ, Harvey Organ Blog:


OPEN INTEREST ON BOTH GOLD AND SILVER RISE DESPITE THE RAID YESTERDAY/ALSO HUGE EFP’S ISSUED FOR BOTH GOLD AND SILVER/RUSSIA DUMPS A MONSTROUS 48 BILLION USA IN TREASURIES AND NO DOUBT WILL BUY GOLD WITH THAT/HUGE DEMAND COMING FROM INDIA FOR SILVER/HOUSING STARTS AND PERMIT ISSUANCE CRASH WITH THE LATEST REPORT/HUGE SWAMP STORIES FOR YOU TONIGHT

BIG BANK STUDIES PREDICT SPACE INDUSTRY IN THE TRILLIONS, BUT…

by Joseph P. Farrell, Giza Death Star:

Mr. B. spotted this intriguing article, and given yesterday’s blog about mind control, its apparent growing use globally, and the “missing trillions”, I had to blog about this one. The upshot is that some major bank studies by Goldman Sachs, Morgan Stanley, and Bank of America Merrill Lynch have concluded that by 2040, the space industry will approach between one and almost three trillion dollars of market value; here’s the article:

A trillion-dollar space industry will require new markets

Now, if you read through all that, you might be thinking, “Well, so what? This is more or less old news and we already knew space industry was going to be a ‘big thing’. No news here.”

Bankrupt Chicago Ponders Universal Basic Income, Obama Sings Hallelujah

by Mish Shedlock, The Maven:

Socialist fools are giving high fives and singing hallelujah as a Chicago alderman seeks a “free money” trial.