Wednesday, May 12, 2021

Lord Jacob Rothschild Issues Warning: The New World Order is in Jeopardy

from The Free Thought Project:

Lord Jacob Rothschild has issued a warning this week noting that the current economic and political climate is threatening the “post-war economic and security order.”

Over the past three years, an unexpected voice of caution has emerged from one of the most legendary families in finance: Lord Jacob Rothschild.

Spectacular Gold COT Report: Prepare For A Huge Six Months

by John Rubino, Dollar Collapse:

No need to mince words anymore. If the futures market still influences gold’s price, then that price is going to spike. And silver is better than gold.

Since January, gold futures speculators have been trending from extremely bullish to scared short. And in the week ending last Tuesday (the most recent data available) they appeared to capitulate, adding a massive number of short positions while marginally cutting their longs. They’re now about as close to neutral as they’ve ever been. Based on the history of the past decade this is hugely bullish, since speculators tend to be wrong when they’re fully convinced they’re right.

Money—How to Get It and Keep It

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by Doug Casey, International Man:

Even if you are already wealthy, some thought on this topic is worthwhile. What would you do if some act of God or of government, a catastrophic lawsuit, or a really serious misjudgment took you back to square one? One thing about a real depression is that everybody loses. As Richard Russell has quipped, the winners are those who lose the least. As far as I’m concerned, the Greater Depression is looming, not just another cyclical downturn. You may find that although you’re far ahead of your neighbors (you own precious metals, you’ve diversified internationally, and you don’t believe much of what you hear from official sources), you’re still not as prepared as you’d like.
I think a good plan would be to approach the problem in four steps: Liquidate, Consolidate, Create, and Speculate.

Buybacks Will Keep the Bull Running

by Nomi Prins, Daily Reckoning:

In the Fed’s July report to Congress, Jerome Powell unleashed what was likely the most important statement to the Trump administration. Powell said that interest rate hikes, which had been forecast to include two more hikes this year, would be executed at a gradual pace ‘for now.’

Those two coded words are very important.

The biggest banks on Wall Street will likely view those two words alone to mean that the Fed is still cautious about the economy and the financial markets. What they know is that the Fed is signaling that it reserves the right to return to its full toolkit of monetary policy options.

Lira Collapse To Jump the Mediterranean

by Tom Luongo, Tom Luongo:

The Turkish Lira crisis is fundamentally different than the Russian Ruble crisis of 2014/15.  This one has contagion risk.

Back then no one was worried about the fall of the ruble having spillover effect.  If Sberbank failed, it wouldn’t jump to Europe.  Then again, there was little worry about that since the Russians had more than enough in reserves to cover the debts.

With Turkey, however, there is a real worry about this jumping into Europe. From Zerohedge:

Overcapacity Haunts Container Carriers Despite the Hanjin Bankruptcy

by Wolf Richter, Wolf Street:

Companies splurge on the largest container ships, consolidation rages, no one wants to back off.

In August 2016, Hanjin Shipping Co., at the time the world’s seventh largest container carrier, sought bankruptcy protection. It was the largest bankruptcy in shipping industry history. On February 2, 2017, the Seoul Bankruptcy Court declared that Hanjin Shipping would be liquidated, as restructuring its debts would be “prohibitively expensive.” But just how big was this debt load?

Yes, James Freeman, We Do Know How Bad the Federal Reserve Is

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

Earlier this week, James Freeman, the Assistant Editor of The Wall Street Journal’s editorial page, wrote an opinion piece headlined as “We’ll Never Know How Bad the Federal Reserve Is.” Freeman is also a Fox News contributor so one might be prone to suspect there is that typical right-wing bias to bash the Fed.

Freeman, however, has a legitimate beef. His new book, “Borrowed Time: Two Centuries of Booms, Busts and Bailouts at Citi,” with co-author Vern McKinley was published this week and Freeman laments in the article about how the Fed “hides and then destroys documents.” If you’re a journalist attempting to compile a truthful and accurate account about a financial institution or a financial era and a key institution holding those documents refuses to release them, then the American people have lost the ability to exercise oversight of their government.

Experts Warn That The “Scariest” Stock Market Signals Are Flashing Red

by Michael Snyder, The Economic Collapse Blog:

So many top professionals in the financial industry are sounding the alarm about a coming stock market crash right now.  And there certainly have been rumblings in 2018 – not too long ago we had a three day stretch that was called “the tech bloodbath”, and during that time Facebook had the worst day for a single company in stock market history.  But we haven’t seen the really big “crash” yet.  Many have been waiting for it to happen for several years, and some people out there are convinced that it is never going to come at all.  Of course the truth is that we are in perhaps the largest stock market bubble that our nation has ever seen, and all other large stock market bubbles have always ended with a major price collapse.  So whether it happens immediately or it takes a little while longer, it is inevitable that stock prices will eventually return to their long-term averages.

GOLD DOWN 55 CENTS TO $1211.85/SILVER DOWN 15 CENTS TO $15.31

by Harvey Organ, Harvey Organ Blog:

ASIAN AND EUROPEAN BLOODBATH DUE TO TURKISH LIRA PROBLEMS AS THE LIRA RISES TO 6.50 AT ONE POINT: THE GLOBE IS EXTREMELY WORRIED ABOUT CONTAGION ESPECIALLY ITALIAN BANKS WHICH HAVE TREMENDOUS EXPOSURE TO THE TURKISH FAILURE/THER RUSSIAN ROUBLE COLLAPSES AS WELL WITH THE RUSSIAN PRIME MINISTER DECLARING THAT TRUMP’S SANCTIONS AND ATTACK ON RUSSIAN BANKS IS AN ACT OF ECONOMIC WAR: LET’S SEE WHAT RUSSIA’S NEXT ACTION WILL BE/MORE SWAMP STORIES FOR YOU TONIGHT: LOTS TO READ TONIGHT AND OVER THE WEEKEND