Thursday, October 17, 2019

Will Interest Rate Cuts Be Enough?

by Michael Pento, Market Oracle:

The main stream financial media is absolutely ebullient about global central banks’ renewed enthusiasm to cut interest rates to a level that is even lower than they already are. And, most importantly, Wall Street is completely confident that theses marginally-lower borrowing costs will not only be enough to pull the global economy out of its malaise; but will also be sufficient to provide enough monetary thrust to blow asset bubbles into the thermosphere.

However, the truth is Fed stimulus does not always work. This was the case during both 2000 and 2008. A significant amount of rate cuts was not enough to avert a recession and also did nothing in the way of preventing the stock market from collapsing.

Here’s why the gold price could really soar over the next two years

by Simon Black, Sovereign Man:

At some point between the years 1483 and 1485, a Genoese businessman named Cristoffa Corombo had the opportunity to pitch his idea to King John II of Portugal.

This period was the dawn of what historians call the ‘Age of Discovery,’ a time when European explorers sailed all over the world opening new trade routes.

They were the tech entrepreneurs of their day, famous for their bold, absurdly expensive, and extremely high-risk ideas that often ended in catastrophic failure (or the mental/physical enslavement of countless people).

It Does Not Take Some “Major Event” To Get To A $10,000 Gold Price

from Silver Doctors:

A war or famine is not necessary for gold to reach $10,000 per ounce. Here’s all it takes… 

by Frank Holmes of US Funds

“Travel,” Mahatma Gandhi once said, “is the language of peace.”

If that’s the case—and I happen to believe that it is—then I’m extremely bullish about the future, especially with respect to U.S.-China relations. Last week I was in Lower Manhattan, and the number of Chinese tourists I observed visiting the New York Stock Exchange (NYSE) and Federal Hall National Memorial—the epicenter of American capitalism and birthplace of the U.S. government—was encouraging. Everyone wanted their picture taken with the statue of George Washington, the father of the country with which their own government has been locked in a trade war for more than 18 months now.

The Eurozone In Crisis? New President of the European Central Bank (ECB) has a Criminal Record. Christine Lagarde

by Prof Michel Chossudovsky, Global Research:

Ms. Christine Lagarde, outgoing Managing Director of the IMF has been appointed to the position of president of the European Central Bank (ECB) effective November 1, 2019

France’s president Emmanuel Macron acting on behalf of powerful banking interests was instrumental in Ms. Lagarde’s nomination. Praised by the Western media, Lagarde was also endorsed by Wall Street and the US Federal Reserve.

What media reports fail to mention is that Lagarde is a corrupt official involved in financial fraud. She has a criminal record.

The Dutch Central Bank Endorses The Gold Standard

by Dave Kranzler, Investment Research Dynamics:

“De Nederlandsche Bank (DNB) holds more than 600 tonnes of gold. A bar of gold always retains its value, crisis or no crisis. This creates a sense of security. A central bank’s gold stock is therefore regarded as a symbol of solidity Shares, bonds and other securities are not without risk, and prices can go down. But a bar of gold retains its value, even in times of crisis.” – DNB’s Gold Stock

The quote above is from the “Payments” section of the Dutch Central Bank’s website. Incredibly, it goes on to suggest the possibility of  a systemic collapse: “If the system collapses, the gold stock can serve as a basis to build it up again.” Quite stunning, in my opinion, coming from the Central Bank of a country that was first to offer a negative interest rate mortgage…

Without the Outliers, Inflation Is Running Hot. Fed Has Started Mentioning these Measures in the Minutes

by Wolf Richter, Wolf Street:

Cleveland Fed’s Underlying Inflation Measure Hits 3.0%, Hottest in the Data.

“Soft inflation?” The inflation measure by the Cleveland Fed — the “Median CPI,” which is based on Consumer Price Index data but removes the outliers in the data to reveal underlying inflation trends — jumped 3.0% for September, the highest in the data series going back to the Financial Crisis, when this measure was launched.

By comparison, “core CPI,” which removes food and energy prices, hit 2.4% in August and September, the highest since September 2008:

40 Million Americans Already Don’t Have Enough Food To Eat – And Here Is Why It Will Soon Get A Lot Worse

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by Michael Snyder, The Economic Collapse Blog:

The things that I am going to share with you in this article are definitely very alarming.  But if you live in a wealthy neighborhood and are always surrounded by other wealthy individuals that never have to worry about missing a meal, then some of the numbers in this article may not ring true to you.  Today, the gap between the wealthy and the poor in the United States is larger than ever, and many wealthy Americans don’t have too much sympathy for the struggles that other people are going through.  But the truth is that most Americans are currently living paycheck to paycheck.  And when you are living right on the edge financially, there are times when it can be really tough to even afford the basic necessities.  If you have never had to miss a meal involuntarily, good for you.  Unfortunately, there are millions upon millions of Americans for which hunger is a very real problem.

News Articles on the Fed’s Secret Trillions in Loans to Wall Street During the Last Crisis Have Been Purged from Bloomberg News

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

Mark Pittman was the Bloomberg News reporter responsible for the Bloomberg lawsuit against the Federal Reserve seeking the names of the banks and their share of the trillions of dollars that the Fed was secretly funneling to them during the financial crisis. Pittman had already shared in a Gerald Loeb award for Bloomberg’s five-part series, “Wall Street’s Faustian Bargain,” and many felt he was a lock for a Pulitzer. But one week before Federal Reserve Chairman Ben Bernanke was to sit for his Senate Confirmation hearing on his reappointment to another term as Fed Chairman, Pittman died of a heart attack at age 52 on November 25, 2009.

Gold is the Alpha Currency

by Gary Christianson, Miles Franklin:

Breaking News:

The Dow closed at 26,616 on Jan. 26, 2018, a new high.

The Dow closed up 320 on October 11, 2019 at 26,816, a gain of only 0.75% in 21 months.

Gold closed at $1,352 on Jan. 26, 2018.

Gold closed at $1,488 on October 11, 2019, a gain of 10.1% in 21 months.

The Fed announced they would buy $60 billion/month in Treasuries but refused to admit it was QE. Sounds like welfare for the upper 1%…

ANOTHER MAJOR ATTEMPT BY THE BANKERS TO COVER THEIR MASSIVE SHORTFALL

by Harvey Organ, Harvey Organ Blog:

GOLD:$1493.25 UP $8.25(COMEX TO COMEX CLOSING

Silver:$17.68 UP 18 CENTS  (COMEX TO COMEX CLOSING)

Closing access prices:

Gold : $1493.10

silver:  $17.66