Wednesday, May 12, 2021

Estimating the shape of the coming crisis

by Alasdair Macleod, GoldMoney:

We don’t know what will trigger the crisis, but a likely candidate is foreign selling of US dollars combining with a collapse in the US government’s finances. Perhaps the coronavirus will turn out to be a black swan event, but the underlying conditions for an economic and monetary crisis already exist.

This article looks at alternative outcomes. It concludes that the current situation bears a worrying resemblance to the collapse of John Law’s Mississippi scheme exactly 300 years ago. The key to understanding why this is so is because of the link forged between asset prices and fiat currencies. One fails, and they both fail, more rapidly than the most bearish bear might expect.

Chicago Police Are Using a Facial Recognition Program That Scans Billions of Facebook Photos

by Emma Fiala, The Mind Unleashed:

The end of privacy as we know it?

Manhattan-based Clearview AI is collecting data from unsuspecting social media users and the Chicago Police Department (CPD) is using the controversial facial recognition tool to pinpoint the identity of unknown suspects, reads a report from the Chicago Sun-Times.

Farage to Breitbart: Brexit a Historic Day for United Kingdom, Europe, and the Western World

by Oliver JJ Lane, Breitbart:

Brexit leader Nigel Farage has hailed Brexit Day as a time to celebrate, but noted much work remains to be done and vowed he would be sticking around to hold the Prime Minister to his word.

Speaking to Breitbart News Network Editor-in-Chief Alex Marlow on the Breitbart News Daily show on Sirius XM on Brexit Eve, Brexit campaign leader Nigel Farage reflected on the truly historic events of Friday 31st 2020, as after almost 50 years the United Kingdom breaks free from “Project Europe”.

“I’m In An Apocalypse” – New Accounts From Wuhan Detail Coronavirus Outbreak

from ZeroHedge:

Global equity markets are taking a beating on Thursday as the death toll climbs to 170 from 132, with 7,711 cases of coronavirus confirmed in China and 7,814 worldwide.

The developments over the last several weeks could force the World Health Organization (WHO) to issue a global alert over the alarming infection rate of the deadly virus.

Evidence shows the virus can be transmitted from person to person before any signs or symptoms, which is one of the reasons why the WHO could soon declare a Public Health Emergency of International Concern (PHEIC), as the virus spreads across the world.

As Fed’s Powell Spoke at His Press Conference, the Market Gave Him a Taste of a Taper Tantrum

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

The typically calm and unruffled Fed Chairman Jerome (Jay) Powell had a furrowed brow yesterday as he walked to the podium at his press conference at 2:30 p.m. It was clear from the outset that Powell had been put on a short leash as to what he could and could not say about the underpriced repo loans that the Fed has authorized the New York Fed to shower on the trading houses of Wall Street to the tune of hundreds of billions of dollars per week since last September 17. This is an unprecedented action by the Fed when there is no known financial crisis occurring. As we reported on Monday, the New York Fed has pumped a cumulative $6.6 trillion into those Wall Street trading houses in just the past four months – a third of the amount of its support during the 2007 to 2010 financial crisis.

A Week Ago There Were 547 Coronavirus Cases In China. Now There Are 7,711.

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by Michael Snyder, The Economic Collapse Blog:

This coronavirus outbreak continues to grow at an exponential rate.  In fact, the number of cases is 14 times larger than it was just one week ago.  Needless to say, if the number of cases continues to escalate at this pace, we are going to have a horrifying global pandemic of epic proportions on our hands very rapidly.  But hopefully that won’t happen.  Hopefully the measures that global authorities have taken to slow the spread of the virus will work.  But we are definitely in a race against time, and if they don’t get this outbreak under control shortly we could soon be facing a worst case scenario.

Democrats Demand YouTube Censor “Climate Misinformation” Videos

by Paul Joseph Watson, Summit News:

Would essentially purge global warming skepticism from the platform.

A Democrat Congressional committee is demanding YouTube censor videos that contain “climate misinformation” as part of a new purge that would basically eliminate skepticism about man-made global warming from the platform.

In a letter sent to Google CEO Sundar Pichai, the U.S. House of Representatives Select Committee on the Climate Crisis claims that YouTube has “been driving millions of viewers to climate misinformation videos every single day.”

WE WILL WITNESS HOW MANY TONNES OF GOLD WILL STAND FOR FEBRUARY

by Harvey Organ, Harvey Organ Blog:

OPTIONS EXPIRY TOMORROW FOR LBMA/OTC SO EXPECT A RAID ON OUR PRECIOUS METALS: TODAY GOLD ROSE BY $13.05 TO $1584.45//SILVER UP 47 CENTS TO $17.98//TOMORROW IS FIRST DAY NOTICE AND WE WILL WITNESS HOW MANY TONNES OF GOLD WILL STAND FOR FEBRUARY//CORONAVIRUS UPDATE FROM CHINA AND THE GLOBE//HUGE NUMBER OF SWAMP STORIES FOR YOU TONIGHT

What is a Narrative with Charles Nenner

by Kerry Lutz, Financial Survival Network:

Charles Nenner returns… A new book put out by a so-called economic and political expert espouses the view that narratives shape reality and perception, which to some extent is true. But listen to Charles Nenner and learn about cycles. Perhaps it’s the cycle that shapes the narrative and reality. Right now the narrative is all about the Coronavirus and its impact upon the economy. But perhaps, if it wasn’t the virus, it would have been something else. Charles is looking for stock markets to tank, $36 oil, higher dollar and higher treasuries. It may be a little to late for higher Vix, Charles already cashed out.

Click HERE to Listen