Tuesday, March 28, 2023

North Korea: “Their Health System Sucks”, Do They have Schools and Hospitals… In America, We’ve Got Medicare…

by Prof Michel Chossudovsky, Global Research:

The North Korean government, according to the Western media is said to be oppressing and impoverishing its population.

Here in the USA we have medicare, all our kids are educated, we are all literate, and “we want to live in America”.

And in the DPRK, the health system sucks, they don’t have schools and hospital beds, they are all a bunch of illiterates,  

You would not want to live there! 

Beneath the mountain of media disinformation, there is more than meets the eye. Despite sanctions and military threats, not to mention the failed intent of “respectable” human rights organizations (including Amnesty International) to distort the facts, North Korea’s “health system is the envy of the developing world” according to the Director General of the World Health Organization:

“WHO director-general Margaret Chan said the country had “no lack of doctors and nurses””.

Health. DPRK vs. USA

While praising North Korea, the WHO admonishes the USA for “not having a universal health coverage”:

Screenshot CNBC Report, February 2017 quoting a study by the WHO and Imperial College London

Lets look at the figures. The Library of Congress Federal Research Division quoting official sources concurs:

North Korea has a national medical service and health insurance system. As of 2000, some 99 percent of the population had access to sanitation, and 100 percent had access to water, but water was not always potable. Medical treatment is free. In the past, there reportedly has been one doctor for every 700 inhabitants and one hospital bed for every 350 inhabitants

“In 2006 life expectancy was estimated at 74.5 years for women and 68.9 for men, or nearly 71.6 years total.”

Higher than in most developing countries. Lower than in the United States.

Read More @ GlobalResearch.ca

TRUMP’S MANUFACTURING ADVISORY PANEL DISBANDS AFTER MANY PARTICIPANTS LEFT EARLIER: SENDS GOLD AND SILVER SKYROCKETING

by Harvey Organ, Harvey Organ Blog:

GOLD UP $3.55 TO 1277.55 AND SILVER UP TO $16.95 FOR A GAIN OF 25 CENTS/IN ACCESS TRADING: GOLD AT $1282.00 AND SILVER AT 17.08/FOMC MINUTES: LOW INFLATION WHICH GENERALLY MEANS NO WAGE INFLATION/ THEY WILL ANNOUNCE NEXT MONTH THE NORMALIZATION OF THEIR BALANCE SHEET/NO RATE HIKE FOR SEPTEMBER

GOLD: $1277.55  UP $3.85

Silver: $16.95  UP 25 cent(s)

Closing access prices:

Gold $1282.95

silver: $17.11

SHANGHAI GOLD FIX:  FIRST FIX  10 15 PM EST  (2:15 SHANGHAI LOCAL TIME)

SECOND FIX:  2:15 AM EST  (6:15 SHANGHAI LOCAL TIME)

SHANGHAI FIRST GOLD FIX: $1278.74 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1273.70

PREMIUM FIRST FIX:  $5.04

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SECOND SHANGHAI GOLD FIX: $1274.86

NY GOLD PRICE AT THE EXACT SAME TIME: $1272.60

Premium of Shanghai 2nd fix/NY:$2.26

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LONDON FIRST GOLD FIX:  5:30 am est  $1270.15

NY PRICING AT THE EXACT SAME TIME: $1270.00 

LONDON SECOND GOLD FIX  10 AM: $1272.25

NY PRICING AT THE EXACT SAME TIME. $1273.25 

For comex gold:

AUGUST/

NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 32 NOTICE(S) FOR  3200  OZ.

TOTAL NOTICES SO FAR: 4579 FOR 457900 OZ  (14.24 TONNES) 

For silver:

AUGUST

 

 15 NOTICES FILED TODAY FOR

 

75,000  OZ/

Total number of notices filed so far this month: 915 for 4,575,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

 

end

The star today was silver as this metal completely rebuffed all attempts by the crooked bankers who initiated a raid for the 5th consecutive day.  Gold got a spurt when Trump’s entire advisory board was disbanded.  It seems that the entire Trump team is in chaos.

Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY FELL AGAIN ONLY950 contracts from 189,478 DOWN TO 187,955 DESPITE THE  HUGE FALL IN THE PRICE THAT SILVER TOOK WITH RESPECT TO YESTERDAY’S TRADING (DOWN 44 CENT(S) . THE BANKERS PROVIDED THE SHORT PAPER TO INITIATE THE RAID. WITH THE LOWER PRICE NEWBIE SPECS ENTERED FULL BLAST DRIVING THE PRICE A LITTLE HIGHER FROM THEIR LOWS WITH THE COMMERCIALS NEEDING TO SUPPLY THAT PAPER. THE COMMERCIALS ARE HAVING A TOUGH TIME COVERING…AND  THUS NOT MUCH OF A CHANGE IN OPEN INTEREST.

 In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e.  0.940 BILLION TO BE EXACT or 135{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 15 NOTICE(S) FOR 75,000OZ OF SILVER

In gold, the open interest FELL by A TINY 2222 WITH THE HUGE FALL in price of gold ($11.00 LOSS YESTERDAY.)  The new OI for the gold complex rests at 477,921. A raid was called upon yesterday by the bankers and it succeeded in driving the price of gold southbound. The bankers initiated the raid with short paper but newbie longs entered the arena with the lower price. The bankers were not as successful in covering their shorts as they would have liked. They again called for another raid today but that too has failed

we had: 32 notice(s) filed upon for 3200 oz of gold.

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With respect to our two criminal funds, the GLD and the SLV:

GLD:

Today, no changes in gold inventory:

Inventory rests tonight: 791.01 tonnes

IN THE LAST 23 TRADING DAYS: GLD SHEDS 45.96 TONNES YET GOLD IS HIGHER BY $40.00 . 

SLV

Today: : WE NO CHANGES IN SILVER INVENTORY TONIGHT:

INVENTORY RESTS AT 335.825 MILLION OZ

 

end

.

First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver FALL BY 950 contracts from 188,905 down to 187,955 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787).  I wrote this yesterday: “THE FALL IN OPEN INTEREST WAS ACCOMPANIED BY A HUGE FALL IN PRICE AND IT STILL LOOKS LIKE WE ARE WITNESSING BANKER CAPITULATION.  BANKERS ARE LOATHE TO SUPPLY NEW SHORT PAPER AND THE LONGS CONTINUE TO ENTER THE ARENA PURCHASING WHATEVER SILVER THEY CAN AND WILLING TO TAKE ON OUR CROOKED BANKERS. THUS A SMALL DECLINE IN OPEN INTEREST”.  TODAY BANKER CAPITULATION CONTINUES AS SILVER RISES DESPITE THE RAID ATTEMPT.

(report Harvey)

.

2.a) The Shanghai and London gold fix report

(Harvey)

 

2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY:  Bloomberg

3. ASIAN AFFAIRS

i)Late TUESDAY night/WEDNESDAY morning: Shanghai closed DOWN 4.81 POINTS OR 0.15{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}   / /Hang Sang CLOSED UP 234.11 POINTS OR 0.86{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} The Nikkei closed DOWN 24.03 POINTS OR 0.12{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Australia’s all ordinaires CLOSED UP 0.46{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Chinese yuan (ONSHORE) closed DOWN at 6.6950/Oil UP to 47.68 dollars per barrel for WTI and 51.03 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN , Offshore yuan trades  6.7020 yuan to the dollar vs 6.6950 for onshore yuan. NOW THE OFFSHORE IS WEAKER  TO THE ONSHORE YUAN/ ONSHORE YUAN WEAKER (TO THE DOLLAR)  AND THE OFFSHORE YUAN IS MUCH WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE SLIGHTLY STRONGER DOLLAR. CHINA IS NOT HAPPY TODAY  

Read More @ HarveyOrganBlog.com

Grocery Store Turmoil in Chicago

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by Wolf Richter, Wolf Street:

Bankruptcies don’t help. Even the big chains are closing stores.

The grocery store sector is never static. Some stores close, others open. But in Chicago, 25 stores closed over the past 24 months due to bankruptcies or operational reasons, and only 16 stores have opened, producing “an alarming loss” of 545,000 square feet of grocery store space.

This includes five independent grocery stores that closed, while only two new ones opened, bringing their total down to 43 stores. Their market share, based on square footage, declined to just 7{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}. This is “not a positive sign for improving the food deserts where these grocers penetrate more regularly,” according to Mid-America Real Estate’s biennial Urban Grocery Study.

And the average store size shrank, as the stores that were closed averaged 38,000 square feet, while the stores that opened or are planned average 25,000 square feet.

The study covers the period from September 2015 to August 1, 2017, in an urban area of 3.2 million residents with 262 operating or proposed grocery stores of more than 10,000 square feet in size.

In addition to the current difficulties, Amazon’s entry looms over the grocery market. Whole Foods, which is being acquired by Amazon, has 13 stores in the area, nine of them “in primarily higher income” locations. It has about 7{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of the market on a square-footage basis. And the report finds that “consumers continue to anticipate the opening of Amazon Go stores or perhaps ‘combo’ sites of Amazon/Whole Foods part grocery-part fulfillment center.”

Regional grocery store chain Dominick’s has become a Safeway fatality. In 1998, the chain’s 116 stores were acquired by Safeway Inc. Critics say that Safeway cheapened the product offerings, including replacing Dominick’s private label brands with Safeway brands. And the store-closings started. At the end of 2013, with only 83 Dominick’s stores remaining, Safeway closed all of them. Two month later, as if by coincidence, Safeway was acquired in a leveraged buyout by private equity firm Cerberus.

Many of the Dominick’s stores remained “dark” for years. But over the two-year period of the report, nearly one million square feet of those locations were absorbed by major chain stores, which dampened the impact of the bankruptcies and store closings to create “a stall and step backwards in urban Chicago,” as the report put it.

Jewel Osco moved into the number one spot, with 51 stores. Aldi, after closing three locations, dropped to number two, with 49 stores.

In the plus-column:

Target is doubling the number of its small-format stores (20,000-30,000 square feet) to eight locations. These stores are either already open or under construction. According to the report, they’re offering a “variety of grab-and-go grocery, pharmacy/health/beauty, limited apparel and electronics; and most have in-store cafes, thus nailing the merchandise mix worthy of inclusion as an urban grocery competitor.”

Fresh Thyme Farmer’s Market opened two small gourmet grocery stores of under 30,000 square feet.

H Mart, a grocer catering to the Asian community, already has four stores in the suburbs and now plans to open a new 20,000-square-foot sore in the West Loop. The report:

This is the second Asian-based urban grocer since the arrival of Seafood City in the Mayfair neighborhood on the northwest side in 2016. Seafood City is rumored to now be doubling the size of their store by 2019 due to larger than anticipated volumes.

Plans are underway for two grocery co-ops to open small stores: The Dill Pickle with 13,000 square feet and Chicago Market with 10,000 square feet. They’re barely large enough to make it into the study (cutoff at 10,000 square feet).

In the minus-column:

The otherwise rapidly expanding German discounter Aldi closed three stores in Chicago, bringing its count down to 49 locations. But even as Safeway-Albertson’s gives its PE firm owners gray hairs, Aldi has announced an additional $3.4 billion investment, expecting to operate 2,500 stores across the US by 2022. Now there’s the fervent hope that some of them might happen in Chicago.

Read More @ WolfStreet.com

Governments to Control Large Cash Transactions

by Martin Armstrong, Armstrong Economics:

I have been pointing out the crisis we face moving forward. The gist of this is the total fiscal mismanagement of government for which we, the people, are always blamed. This hunt for taxes has led down the path of eliminating currency. While people think Bitcoin is an answer, they do not understand government no less the law. The need only pass a law that anyone who fails to report what they have in Bitcoin is criminal and they get to confiscate all your assets.

Switzerland has its “wealth tax” which they argue is nothing just 0.02{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}. However, it requires you to report all assets worldwide. They then know what you have and it is merely one vote away at anytime to raise the tax or impose criminal penalties for failure to report everything.

We have stood by and what India cancel all high denomination notes. Try walking around with €500 notes in Europe and they look at you funny or won’t accept them. ATM machines have been reduced in Europe to taking a maximum of €200 in cash at best. This is all th hunt for taxes because government cannot function ethically no less morally.

Now the German Federal Minister of Finance Wolfgang Schäuble is proposing to control large cash transactions claiming this will prevent black money transactions and money laundering. Of course, they see these two issues not as typical crime like drugs, but tax avoidance.

Schäuble is coming up with an alternative for the resistance to eliminating cash is rising globally. He knows he cannot abolish cash. If you cannot eliminate cash, then Schäuble said there should be an upper limit placed on cash transactions, from which cash transactions must be registered and reported to the tax authorities. This will also happening in Europe where you cannot pay for a hotel bill greater than €1000. Schäuble said cash transactions must be registered who are the parties to the transaction to prevent the black money transactions, money laundering and terrorist financing.

It has become painfully obvious that the real winner in the Terrorism War was Ben Laden. What this single man did was change the entire world into a hunt for taxes. He destroyed our liberty like no other invader in history. He has certainly made the list of the top 10 most influential people in history, but has not surpassed Karl Marx.

Read More @ ArmstrongEconomics.com

THE FALLING EROI KILLS WESTINGHOUSE: 2 U.S. Nuclear Reactors Construction Halted

by Steve St. Angelo, SRSrocco:

Yes… it’s true.  Two state of the art nuclear power projects bankrupted the mighty Westinghouse Electric Corporation, a company founded in 1886.  Actually, this is old news as Westinghouse filed for bankruptcy back in March 2017.  However, the breaking news is that the Westinghouse bankruptcy has now forced two utility companies to stop construction on two nuclear power reactors in South Carolina. (photo: courtesy of 12 News, Augusta, Ga)

While many factors will be attributed to the halting of these two nuclear power reactors, such as rising costs, construction delays, decreasing electricity demand and the bankruptcy of Westinghouse, the real reason is the FALLING EROI – Energy Returned On Investment.

As a refresher for newer readers, the falling EROI means that it’s taking more and more energy inputs to produce less and less net energy for the market.  For example, in 1970 the U.S. EROI of its oil and gas industry was 30/1.  Thus, the burning of one oil barrel worth of energy produced 30 oil barrels to the market.  Today, shale oil production comes in at a whopping 5/1 EROI, six times less that the profitable energy in 1970.

Moreover, those who have been following my analysis on energy, understand that the falling EROI of oil and natural gas are gutting the entire global economy.  Even though nuclear power generation doesn’t come from burning oil and natural gas, the construction of the reactors most certainly consumes a massive amount of fossil fuels.  Actually, it takes a great deal of the burning of coal, natural gas and oil to produce nuclear, solar and wind power plants.

This was especially true for the construction of Westinghouse’s two nuclear power plant projects, the Vogtle Plant in George and the V.C. Summer plant in South Carolina.

Two Nuclear Power Plant Projects That Bankrupted Westinghouse

The Vogtle Nuclear Plant (Units 3 & 4), located near Waynesboro, Georgia, started construction with the new Westinghouse AP1000 nuclear reactors in 2013.  Here is a picture of Vogtle Plant under construction last year.

As you can see, Vogtle 3 & 4 are the extension of the original Units 1 & 2 that were commissioned in 1987.  Originally, the Vogtle 3 & 4 were to cost $14 billion and be operational by 2016 (Plant #3) and 2017 (Plant #4).  However, the total costs are now estimated to reach $29 billion for the Vogtle Plant, and it won’t be operational until at least 2022. (source: Reuters article).

Read More @ SRSrocco.com

ABSOLUTE MUST WATCH: Timeline for Global Crypto-Currency Acceptance, Digitizing Commodities & Mini Ice Age Crop Losses

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from Adapt 2030:

This documentary covers the method to internationalize ALL property, commodities, labor and assets onto their ACC Blockchain & Token, controlled by the Bank of International Settlements through China’s quantum network. China was given the task of making the SDR a reality, so control of the facilities and network build out go to the creator. USA developed .com for the internet, China developed Quantum Network and ACChain for digitization of all global assets. 

Is North Korea Showing the Emperor is Naked?

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by Pepe Escobar, Sputnik News:

Amid the thick fog of (rhetorical) war between Washington and Pyongyang, it’s still possible to detect some fascinating writing on the (unbuilt) wall.

A case can be made that President Trump is using North Korea to kick the 24/7 Russia-gate narrative out of the US news cycle. It’s certainly working. After all, in Exceptionalistan weltanschauung, the prospect of war and its possible rewards certainly trumps hazy accusations of Russian hacking and election interference.

Capitol Hill would never even consider an attempt to impeach a president — on top if it surrounded by generals — while American geopolitical primacy is in danger. Besides, Congress has already made it explicit Trump does not even need permission to bomb North Korea.

So, according to this working hypothesis, if Robert Mueller finds anything seriously damaging to the Trump brand, the president might actually consider a bomb North Korea/wag the dog operation.

Meanwhile, anybody paying attention to what Edward Snowden has disclosed in detail knows hackers of all persuasions are fine tuned to all Mueller-related IT systems and cell phone communications. They will know what Team Mueller has managed to find on Trump in real time — and plan their contingencies accordingly.

As for the rhetorical war itself, a US intel source used to thinking outside the Beltway box points to the crucial variable, South Korea; “South Korea will not maintain its alliance with the US the day they believe that the US will attack North Korea to protect itself at the expense of the death of thirty million people in South Korea. South Korea is in secret talks with China for a major security treaty because of the US position that they will bomb North Korea in their own defense irrespective of the destruction of South Korea which the US would regard as most unfortunate.”

Don’t expect to read about these secret Beijing-Seoul talks on Western corporate media. And that’s only part of the equation. The source adds, “there are secret talks between Germany and Russia over the US joint sanctions against those two nations and a realignment of the German position back to the Bismarckian Ostpolitik of a new Reinsurance Treaty with Russia.”

Assuming these secret negotiations bear fruit, the consequences will be nothing short of cataclysmic; “The European and Asian security systems of the United States may be about to collapse due to the turmoil in Washington which is unhinging all of the United States alliances. As Congress undermines Donald Trump, the United States is presently jeopardizing all its major strategic relationships.”

Seoul Framed as “Collateral Damage”

Meanwhile, serious questions remain over North Korea’s true military capabilities. As an independent Asia intel source familiar with the Korean peninsula observes, “submarine launched ballistic missiles (SLBMs) as well as land-based nuclear missiles are available on the black market, so North Korea would have no trouble acquiring them. North Korea knows that if they do not have a nuclear deterrent capacity they could be subject to a similar destruction that occurred with Iraq and Libya. In addition, the irresponsible threats against North Korea by [US Secretary of State] Tillerson, who should retire to his fishing haunts, could do grave damage to the US, for if North Korea believes the US will strike they will not wait as Saddam Hussein, having learned their lesson from that, but they will strike first.”

So the real issue, once again, is whether Pyongyang already is in possession of SLBMs as well as land-based nuclear capacity, acquired through the black market. The Asia intel source adds, “North Korea presently has twenty Romeo class submarines which, according to Heritage expert Bruce Klingner, have the capacity to carry nuclear SLBMs. These Romeo class submarines have a range of 9,000 miles and the distance from Pyongyang to New York City is 6,783 miles. These submarines could be refueled, for instance, in Cuba, Therefore, it is not inconceivable to find a North Korean submarine offshore New York City equipped with a ballistic nuclear missile in a showdown at the O.K. Corral with Washington D.C.”

US Think Tankland is developing a creepy consensus when it comes to North Korea. Every analyst worth his paycheck knows that North Korea’s nuclear program sites are widely dispersed and ultra-reinforced; everyone also knows that devastating North Korea artillery is concentrated near the demilitarized zone (DMZ) within striking distance of Seoul. Still, this is all being spun as part of an aseptic narrative where the US is “extremely reluctant” to bomb.

It’s obviously hard for CIA types to publicly acknowledge that Pyongyang is — successfully — creating the framework for a new brand of negotiation with the US as well as with South Korea, China and Russia. Any rational, non-Dr. Strangelove intellect knows there is no military solution to this drama. North Korea is already a de facto nuclear power — and diplomacy will have to take it into account.

Neocon/neoliberalcon War Party/CIA types though bet on — what else — war. And fast — before the much-hyped point of no return when Pyongyang acquires a deliverable nuclear weapon. That’s where, predictably, most factions of the deep state converge with Trump. And that’s the stuff of all sorts of chilling scenarios, pointing once again to Washington having no qualms sacrificing its South Korean “ally”.

Read More @ SputnikNews.com

After 100 Months of Buying The Dips — Peak Crazy

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by David Stockman, Daily Reckoning:

Just call it Peak Crazy and move on. There is absolutely no reason for the stock markets to be at current levels, let alone melting-up day after day. The fact that this is happening is a measure of how impaired capital markets have become as a result of massive central bank intrusion.

The robo-machines and day traders keep buying the dips because that has “worked” for the last 100 months. There is nothing more to it than residual momentum.

Under a regime of honest money and price discovery, the stock market discounts the future. There is no plausible future from here that’s worth 24 times S&P 500 value or 96 times the Russell 2000.

Surely the year-ahead earnings boom that Wall Street’s artists have penciled in is not in the slightest bit plausible. With 84{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of the S&P 500 reporting Q2 results, LTM earnings are still 1.3{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} below where they were in September 2014.

Nothing has happened to corporate earnings in the last three years except deflation in the energy, materials and industrial sectors. After hitting $106 per share in September 2014, the global deflation cycle brought them to a low point of $86.44 per share in March 2016 in response to low $30s oil prices. The latter has since recovered to the $50 dollar zone – bringing S&P 500 earnings back to $104.61 during the current quarter.

The question remains: How does an aging business cycle and immense global headwinds justify the expectation of a red hot earnings breakout during the next 18 months? Yet that’s what’s happening on Wall Street. We’ve hit nearly $133 per share of GAAP earnings (and $145 of the ex-items variety) for the LTM period ending in December 2018, meaning a prospective surge of 27{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}.

Even if you credit Wall Street’s ex-items approach to operating earnings, the story is the same. Why will the eventual 2018 outcome be any different than the cliff-diving of the last three years?

As things stand, 2018 expectations look way elevated.

The current earnings growth estimated for 2018 would amount to more than the 23{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} gain that has been recorded during the past decade!

In June 2007, reported LTM earnings for the S&P 500 was posted at $85 per share. That would mean that earnings have grown at the tepid rate of 2.1{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} per annum for the last 10-years; and those are nominal dollars.

Take out inflation and share buybacks and there’s essentially no gain at all on a peak-to-peak basis.

When it comes to robo-traders, there are some very powerful muscle memory aspects pushing the averages relentlessly higher. It’s the deformation you get when the normal mechanisms of market discipline, such as short sellers and economic pricing of options and hedges, that are destroyed by wealth effects based central planning.

It is Wall Street’s extreme vulnerability to violent crashes that come when two-way markets are destroyed in the name of tricking people into believing they are wealthier than they actually are. The bubble reaches its height and then there is nothing left below because stock prices have become decoupled from economic and profit fundamentals.

Read More @ DailyReckoning.com

The Banks Are Preparing to Steal All of Your Money- Another Wells Fargo Crime-Homeowners You Are at Risk!

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by Dave Hodges, The Common Sense Show:

I have no doubt that when I look at banking actions over the past three years, they are clearly posturing to take every financial asset you own, but not everyone agrees as evidenced by this email.

Hodges just shut up!!!!  You are an _____. The economy is just fine. If it was as bad as you say we would already be eating out of garbage cans. Shut your piehold and get a real job you ____ _____!

Is this emailer correct, or are the recent actions of the banks and the courts telling us something. It is my contention that we are not just going to have a series of false flag event in America. We are going to get his with everything the globalists have to throw at us because America must be taken down in order to usher in the New World World Order.

The 800 lb Gorilla In the Room

In the past, I have written about the credit swap derivatives exposure and the topic got very little traction. So long as people are driving to work and have some food on the table, and there is no looming crisis, most Americans will have a case of tunnel vision due to the fact that most of only live for Friday and cannot see into the future. Many of us in the independent media and even knowledgeable and respected economists such as John Williams and Joseph Meyer are all saying that we are on the verge of a complete economic collapse. And it will almost assuredly begin with a collapse of the banks. How do I know, read on, the banks, themselves, have already told you as much.

AS A NATION, WE OWE $2.5 QUADRILLION IN CREDIT SWAP DERIVATIVES DEBT WHEN THE ENTIRE GNP OF THE PLANET IS $70 TRILLION

Do you remember when Wells Fargo fired 5,300 employees for opening millions of fake accounts? As John Cruz, former Senior V.P. of HSBC Bank would point out, that in all of these cases there is money laundering from drug trafficking and illegal gun-running.

I have interviewed John Cruz on three occasions, former whistle blower from HSBC Bank where he was a Senior VP. Cruz pointed out the following:

The 2017 Economic Crisis Is Worse Than 2008

The very same banks that created the last economic crisis have now created a 278 TRILLION dollar derivatives nuclear time bomb that could tear down the American economy in single and unannounced moment.

Much of this article deals with the blatant corruption of Wells Fargo, however, they are just the tip of the icebeg.

Interestingly and tragically, Wells Fargo appears to be a sound manager of its debt compared to the other banks.

From the John Cruz interview as well as the  Economic Collapse Blog:

“JPMorgan Chase

Total Assets: $2,573,126,000,000 (about 2.6 trillion dollars)

Total Exposure To Derivatives: $63,600,246,000,000 (more than 63 trillion dollars)

Citibank

Total Assets: $1,842,530,000,000 (more than 1.8 trillion dollars)

Total Exposure To Derivatives: $59,951,603,000,000 (more than 59 trillion dollars)

Goldman Sachs

Total Assets: $856,301,000,000 (less than a trillion dollars)

Total Exposure To Derivatives: $57,312,558,000,000 (more than 57 trillion dollars)

Bank Of America

Total Assets: $2,106,796,000,000 (a little bit more than 2.1 trillion dollars)

Total Exposure To Derivatives: $54,224,084,000,000 (more than 54 trillion dollars)

Morgan Stanley

Total Assets: $801,382,000,000 (less than a trillion dollars)

Total Exposure To Derivatives: $38,546,879,000,000 (more than 38 trillion dollars)

Wells Fargo

Total Assets: $1,687,155,000,000 (about 1.7 trillion dollars)

Total Exposure To Derivatives: $5,302,422,000,000 (more than 5 trillion dollars)

Compared to the rest of them, Wells Fargo looks extremely prudent and rational.”

Confirming Data

Fifteen months ago, America did not want to listen. Can you hear me now?

Read More @ TheCommonSenseShow.com