Saturday, April 20, 2019

Italy Openly Discusses Euro Exit in Parliament: Debt Restructuring or “Italeave” on the Way?

by Mish Shedlock, Mish Talk:
In Europe, where it is essentially taboo to publicly discuss anything deemed politically incorrect, some interesting conversations are taking place in the Italian parliament regarding the future of Italy in the eurozone.

Via email, Eurointelligence asks Is Italy heading for debt restructuring or euro exit?

We are reporting from an important conference in Rome yesterday that has caught the Italian news headlines this morning – on the future of Italian public debt. It was organized by the Five Star Movement, held in the Italian chamber of deputies, and openly discussed issues such default mechanism inside the eurozone, sovereign debt restructuring mechanisms, parallel payment systems, and of course euro exit.

The Truth About North Korea: It’s Booming

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by Alexander Mercouris, The Duran:
As North Korea tests another long range missile reports from North Korea confirm that far from being in crisis its economy is in the midst of a boom.

Both the US and Russia say that the Hwasong-14 missile which was launched today is of intermediate range, and is not as North Korea claims an intercontinental ballistic missile (“ICBM”). It seems that whilst the missile can cover all of Alaska it does not have the range to reach the rest of the continental United States.

Though this is almost certainly true – and is in accord both with what Chinese and Russians specialists say about the North Korean ballistic missile programme – the fact that the very first test of such a powerful and sophisticated missile appears to have been completely successful highlights North Korea’s growing mastery of ballistic missile technology.

Japan Officially Removes Taxes from Purchase and Sale of Bitcoin

by Kenneth Schortgen, The Daily Economist:
On July 1, a new law went into effect which removes all taxation from the buying and selling of Bitcoin in the nation of Japan. And with their already having recognized the cryptocurrency as a viable medium of exchange within their monetary system, the world’s third largest economy has moved another step closer to recognizing Bitcoin as a legitimate currency.

Japan’s tax reform bill which officially eliminated consumption tax on the sale of Bitcoin came into effect on July 1. Bitcoin trading activities are expected to rise in Japan following the activation of the bill.

Fine Gold versus F.I.N.E. Central Banks

by Gary Christenson, Deviant Investor:
On the other hand central banks create trillions of fiat currency units – dollars, euros, yen, quataloos, whatever – from nothing and use those currency units for purchases … Apple stock, salaries for a thousand Ph.D. economists, office buildings, lobbyists, politicians, gold bullion etc.

It is unfair that the Fed creates trillions of dollars from nothing and values those dollars equally with other dollars created from the efforts of millions of businesses and individuals.

UNFAIR? Of course it’s unfair. That’s the point! With their “unfair” ability to create fiat currency that spends the same as existing currency, central bankers increase their power and wealth at the expense of citizens. They own or control governments, congressmen, CEO’s, commercial bankers and more.

The End of Markets, Part III – Jeff Nielson

by Jeff Nielson, Sprott Money:
We no longer have markets, not in the sense of international exchanges for human commerce. What we have, instead, is a 24/7 computerized price-rigging operation – which has hijacked all of our market infrastructure.

The entity responsible for this enormous systemic crime is very familiar to regular readers: the One Bank . Part II of this series ended with a pledge to provide readers with evidence. Not evidence of (mere) manipulation. Such evidence exists in abundance, and a considerable amount of evidence was presented in the first two installments of the serial manipulation of the silver market.

Sentiment Naturally Changes With Each Skirmish, As The Financial War Proceeds

by argentus maximus, TF Metals Report:
I listened to Craig in his pretty unique podcast of this Independence Day weekend, ( TFMR Podcast – Friday, June 30 ) and I totally appreciate his honesty and candour, and value that. Not many business owners have the chutzpah to openly discuss their difficulties with clients. It indicates humanity, honesty, ability to talk about difficulties and what is being done about them, during the process. And trust in their clients, which can only be built up incrementally over time. Weaker individuals wait until afterwards before saying anything that might show less than an invincible public image, if they ever dare say it.

I think that Turd isn’t doing anything “wrong” when a decline of subscribers becomes visible, though I am sure a lot of soul searching goes into it, because business is important.Seafarers have to sail through storms to get to the other side, that’s all. Unfortunately this is simply the bear grinding out the bullish element to incentivise the move of assets away from weaker individuals and over into the “right hands”. After the property is owned by “the right pockets” it will rise in price. It has always been so since capital could be used in a weaponized way, which was of course the end of capitalism there and then … a longer time ago, I believe, than many people think.

How to Build an Exceptional Offense

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by Simon Black, Sovereign Man:
Today I’m going to show you how to build a strong offense.

Once you have a strong defense that protects everything you have, a good offense positions you for gain.

It helps you move the ball down the field, grow your wealth and achieve exceptional investment returns… all while taking minimal risk.

Step #1: Invest outside of the mainstream

When I say outside the mainstream, I don’t mean weird or highly risky. I mean beyond conventional wisdom… in other words, beyond stocks and bonds.

UK House Prices ‘On Brink’ Of Massive 40{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} Collapse

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by Mark O’Byrne, Gold Core:
– UK house prices on brink of massive 40{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} collapse
– UK at ‘edge of worst house price collapse since 1990s’
– Two leading economists warn of property crash
– “We are due a significant correction in house prices”
– Brexit and wages failing to keep up with inflation to trigger collapse
– Trend starting in London before fanning out to rest of UK
– UK homeowners unconcerned – 58{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} expect prices to rise
– Over 1 million mortgages under threat in UK
– Concerns of return of new “negative equity” generation
– Huge denial amid recency bias and endowment bias – emotional attachment to expensive things we buy – especially our homes
– Good news for first time buyers – bad news for UK banks and indebted, vulnerable UK consumers and economy

Auto Sales Weak Again, Average Loan Hits Record 5.75 Years: Don’t Worry “Plateau Expected”

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by Mish Shedlock, Mish Talk:
With about 3/4 of the totals in, vehicle sales in June are running no better than even compared to May’s 16.7 million annualized rate according to Econoday.

The Wall Street Journal report is much weaker: U.S. Auto Sales Fall as Fewer Vehicles Go to Rental Chains.

According to the article subtitle, GM, Ford and Fiat Chrysler are moving away from practice of dumping unwanted inventory into rental lots. The body reads quite differently. It is the rental car dealers cutting back due to warranted fears of a decline in used vehicle prices.

This Black Swan Event Is Happening Now And Will ‘Bring This Country To A Halt’

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by Susan Duclos, All News Pipeline:
On June 24, 2017, Stefan Stanford highlighted a very concerning SQ Alert by a member of the trucking industry about the ramifications and total tyrannical control of the government regarding the upcoming ELD Mandate, warning people that the mandate set to begin in December 2017, is all about control and the surveillance state, with the trucking stating “Control trucking, you control every part of this country, and as 1/5th of the GDP, the economy of every part of this country.”

Read the entire alert again here, because ANP has just received another warning, coming from a trucker that would be affected, and a possible trucking shutdown, which we are told “would bring this country to a halt.”

A black swan is an event or occurrence that deviates beyond what is normally expected of a situation and is extremely difficult to predict and generally brings about chaos and strife, and our reader highlights what has been going on in the trucking industry, but has received very little attention in the media, telling us:

Keiser Report: Rationing of Money (E1092)

from RT:

From Mexico City, Max and Stacy discuss rationing healthcare and investment opportunities. Max continues his interview with economist and columnist Alejandro Nadal about Trump’s economic and geopolitical policies and what they mean for Mexico.