Saturday, June 23, 2018

The Gold Industry is in a Massive State of Dysfunction, Delusion and Denial

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by Stewart Dougherty, Gold Seek:
In 1980, the Financial Deep State realized that there existed an extraordinary opportunity for serial plunder and profiteering: the manipulation of the gold and silver markets. They immediately mobilized to exploit it.

During the subsequent 37+ years (we are now well into the 38th), the Deep State manipulators have criminally looted the gold and silver markets, pocketing astronomical profits for themselves in the process, all of which have come from real victims on the other sides of their fraudulent trades. While literally billions of people worldwide have been financially damaged by this crime, many of them severely, not one of the perpetrators has spent so much as ten seconds in jail for the global looting spree they have conducted. This is because precious metals price fraud is a state-sponsored crime.

Illinois On The Brink? The Whole Country Is On The Brink

by Dave Kranzler, Investment Research Dynamics:
The biggest problem facing Illinois is the public pension fund problem. I don’t care what the “official” number is for the degree to which it is underfunded. I can guarantee that even without marking-to-real-market the illiquid investments like private equity funds, derivatives, commercial real estate trusts and other assets that do not have truly visible markets, collectively the public pension system in Illinois is at least 60-70{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} underfunded. Then apply a realistic assumed actuarial rate of return on assets, which would be lower than the current assumption (likely 7.5{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} ad infinitum) and the underfunding goes to 80{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}. The problem is unsolvable without a complete and drastic restructuring.

Cryptocurrencies Collapsed

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by Wolf Richter, Wolf Street:
Ethereum down 52{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}, Ripple down 57{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}, EON down 70{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in eight days.

A “collapse” isn’t when something edges down 1{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in value or even 10{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} or 20{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}; it’s when something plunges 50{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in a short time.

Ethereum has collapsed 52{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in four weeks. The second largest cryptocurrency by market capitalization had surged from $0.95 at the end of 2015 to $8.21 by the end of 2016; a gain of 764{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in one year. Then it surged to $400 by June 13, according to CoinMarketCap; a gain of nearly 5,000{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in less than six month. Over the 18-month period, it multiplied by 421 times. That’s a 42,000{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} gain. No wonder hedge funds have piled into this madhouse. But in the four weeks since then, it has collapsed by 52{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} to $193.

Environmental Nightmare! Dozens Of Highly Toxic Substances Have Been Found In Tap Water All Over America

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by Michael Snyder, The Economic Collapse Blog:
After reading this article, you will never look at tap water the same way again. Most Americans have generally assumed that the water coming out of our taps is perfectly safe, but the Flint water crisis and other similar incidents are starting to help people to understand that there are some very dangerous substances in our water. In particular, I am talking about things like arsenic, lead, atrazine, perchlorate and a whole host of pharmaceutical drugs. According to an absolutely stunning NRDC report, close to 77 million Americans received their water from systems “that violated federal protections” in 2015. And even if you get your water from a system that meets federal standards, that still does not mean that it is safe.

Meanwhile In Venezuela, The Real Mad Max Emerges

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from ZeroHedge:
While Silicon Valley seems obsessed by ‘blood boys’, its another part of the world that appears to have gone full Mad Max. As the following clip shows a gang of bikers chase down and attack a truck (with molotov cocktails) to steal its sugar payload

Not quite the “Guzzoline” or “Bullets” that Fury Road offers, but when all you have to eat is flamingoes or black stallions, sugar may be a good substitute worth risking your life over…

The Perfect Storage Options To Capitalize On Historically Undervalued Gold, Silver, And Platinum

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by Andy Hoffman, Miles Franklin:
This morning, I have several important topics to discuss – which, when today’s historically manipulated reality returns from the Bizarro World where PiMBEEB events result in higher stock, and lower Precious Metal, prices – will cumulatively, yield dramatic market “resets” unlike anything previously witnessed. Which in due time, must inevitably occur – given the gross, and patently unsustainable, financial, economic, and monetary distortions caused by the final stage of history’s largest, most destructive fiat Ponzi scheme.

To start with, a topic many of you are undoubtedly interested in hearing my take on, given that not only am I the only Precious Metal commentator to address it objectively; but given my considerable “experience” in this still nascent, but unquestionably world-changing technology, make me a “grizzled veteran” of the space; i.e., crypto-currency.

Global Warming Blown Out… Record Low Temps Recorded

by Martin Lioll, Conservative Tribune:
We keep on hearing about how global warming is making our planet hotter than ever. If you live in a third-floor beachfront condo, the left says, you’d better get ready to deal with seals swimming right outside your window — because that’s how fast the ice in the Arctic is melting.

There have been plenty of nails in the coffin of this sort of alarmism, but a new record in Greenland seems to be the latest piece of evidence the media is desperately trying to ignore. As climatologist Tony Heller points out at his blog, the Danish island territory just set its coldest July temperature on record.

In fact, it was the coldest temperature ever recorded in the Northern Hemisphere for the month of July: -33C (-27.4F).

TRUMP JR’S EMAIL SPARKS GOLD RECOVERY AS WELL AS SILVER/AGAIN MASSIVE VOLUME IN SILVER AT THE COMEX

HUGE MOVEMENT OF GOLD OUT OF COMEX WHILE HUGE MOVEMENTS INTO THE SILVER COMEX
from Harvey Organ:

RUSSIA EXPELS 35 USA DIPLOMATS AND SEIZES USA PROPERTY IN MOSCOW IN RETALIATION AGAINST SANCTIONS 6 MONTHS AGO.

In silver, the total open interest ROSE BY ONLY 6 contract(s) UP to 207,952 DESPITE THE NICE RISE IN PRICE THAT SILVER TOOK WITH YESTERDAY’S TRADING (UP 28 CENT(S). WE AGAIN MOST HAVE HAD CONTINUAL NEW SPECS GOING SHORT WITH THE COMMERCIALS BOTH COVERING AND ALSO GOING LONG. THE NET EFFECT A TINY GAIN IN OI.

In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.039 BILLION TO BE EXACT or 149{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 289 NOTICE(S) FOR 1,445,000 OZ OF SILVER

In gold, the total comex gold ROSE BY 4,372 CONTRACTS WITH THE RISE IN THE PRICE OF GOLD ($3.50 with YESTERDAY’S TRADING). The total gold OI stands at 481,624 contracts.

we had 1 notice(s) filed upon for 100 oz of gold.

Read More @ Harveyorganblog.com

Domestic Abuse: A Smart Device Called the Police

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by Joe Jarvis, The Daily Bell:
This article is not about fear. This article is about common sense.

Last week, we discussed the internet of things, and how smart devices could be used to literally know more about us than we know about ourselves.

This is not some distant future dystopia we are talking about. It is already happening.

A smart device in a home called the police during a domestic violence incident.

Donald Trump’s Very Own Big, Fat, Ugly Bubble

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by David Stockman, DailyReckoning:
The overwhelming source of what ails America economically is found in the Eccles Building. During the past three decades the Federal Reserve has fostered destructive financial mutations on Wall Street and Main Street.

Bubble Finance policies have fueled an egregious financial engineering by the C-suites of corporate America. This bubble has skyrocketed to the tune of $15 trillion of stock buybacks, debt-fueled mergers deals and buyouts of the last decade.

The Fed fostered a borrowing binge in the household sector after the 1980s. It eventually resulted in Peak Debt and $15 trillion in debilitating debts on the homes, cars, incomes and futures of what used to be middle class America.