Thursday, October 17, 2019

EXPECT MASSIVE HONG KONG PROTESTS THIS WEEKEND

by Harvey Organ, Harvey Organ Blog:

GOLD UP $10.25 TO $1490//SILVER UP 4 CENTS TO $17.42//A MASSIVE QUEUE JUMP AT THE GOLD COMEX OF APPROX 1 TONNE AS BANKERS SEARCH OUT BADLY NEEDED GOLD//QE4 BEGINS IN EARNEST AT THE FED AS DEMAND FOR DOLLARS WAS 400% OVERSUBSCRIBED//COLLATERAL RATE RISES TO 2.27% PUTTING THE DEALERS UNDERWATER WITH THE LATEST BILL PURCHASES//EXPECT MASSIVE HONG KONG PROTESTS THIS WEEKEND//TURKISH STATE OWNED HALKBANK CHARGED WITH VIOLATING SANCTIONS AND THIS COULD BE TROUBLE FOR THE LIRA

The IRS Admits it is Targeting the Poor Because it is “Easier and Cheaper” Than Auditing the Wealthy

by Jenny Jayne, The Organic Prepper:

The IRS has announced that it’s “too expensive” to audit the rich. Affluent taxpayers, the 1%, are too well protected from government intrusion. Their tax returns are complex and take more time and more experienced auditors to review them. The IRS then has to pay these more experienced auditors a higher price to audit those larger accounts. It’s become an expensive hassle for them. They encounter resistance from the teams that the affluent have behind them to defend them from the IRS. So, what is their solution?

Are Americans Close to Maxing Out Their Credit Cards?

by Peter Schiff, Schiff Gold:

Consumers continued to pile on debt in August, according to the latest data released by the Federal Reserve. But credit card debt fell slightly, raising a troubling question: are consumers close to maxing out the plastic?

Total consumer credit grew by another $17.9 billion in August. That represents an annualized increase of 5.2% and pushes total consumer indebtedness to a new record of $4.14 trillion (seasonally adjusted).

The Fed consumer debt figures include credit card debt, student loans and auto loans, but do not factor in mortgage debt.

The US Healthcare System Is Hemorrhaging: It is Bleeding Close to $1 TRILLION a Year

by Daisy Luther, The Organic Prepper:

The Affordable Care Act continues to be anything but affordable.

In fact, the healthcare system in the US is in terrible financial shape.

new study has revealed that waste and needless spending in America’s healthcare system could amount to almost $1 trillion each year. This exceeds the total US military expenditures in 2019 – the world’s largest defense budget – and as much as all of Medicare and Medicaid combined.

Government Treats You Like a Milk Cow… Doug Casey Shows How to Avoid It

by Doug Casey, International Man:

International Man: Today, we’re going to take a close look at a pressing issue that’s growing in importance every single day: political risk.

No matter where you live in the world, political risk is growing and may soon have serious implications for you and your investments.

In the United States, this has become a significant concern…

Unsustainable government debt, a corrupt and failing political system, and swings in attitude toward more government involvement in daily life have severe ramifications you should know about.

The “Not QE” TaperCaper Duck Quacks Like QED

from Silver Doctors:

Banks and other financial institutions count on the interbank lending markets to ensure they have access to funding…

by TraderStef via CrushTheStreet (connect with TraderStef via Twitter or at TraderStef’s website)

Interest rates jumped last month after a disruption in short-term lending markets. Banks and other financial institutions count on the interbank lending markets to ensure they have access to funding. To compensate for a lack of liquidity, the Fed began giving financial institutions enough cash in return for safer assets like government treasuries and bonds. The only difference between the Great Financial Crisis (GFC) bailout and the current scheme is that the Fed is purchasing shorter-term debt instruments instead of longer-term debt.

QE4 Officially Begins: Fed’s First T-Bill Purchase Is 4x Oversubscribed Amid Massive Liquidity Demand

from ZeroHedge:

QE4 has officially arrived.

As previewed yesterday, moments ago the Fed concluded the first POMO – as in Permanent Open Market Operation, not to be confused with Temporary – from previously announced T-Bill purchases ($60 billion per month, $7.5 billion per operation), and what it showed is a confirmation of message sent by today’s repo operation: there is an unprecedented demand for liquidity.