WALL STREET LATEST NEWS
This fall, the International Monetary Fund (IMF) will meet
to discuss sweeping new global currency rules. This could drastically impact
the U.S. dollar and its use worldwide, virtually overnight. Already, it appears
that three or more well-known American billionaires could be preparing for this
huge currency shift. They're moving considerable sums of money out of the stock
market and into hard assets like gold and real estate. Experts say this announcement
could trigger one of the most profound transfers of wealth in our
lifetime. Click here to see full analysis of the situation by a
renowned PhD currency expert.
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ZERO HEDGE
Lehman's
Gift To Jeb Bush For Funneling Pension Money: A $1.3 Million Consulting
"Job". Submitted
by Tyler Durden on 08/19/2015. [ These elections are
full of corruption in both sides Dem & GOP ]
At this point, it almost feels like kicking someone while
he’s down. Jeb Bush can’t even stand up to Donald Trump, let alone
his own growing series of scandals.
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Last year, when alternative economic analysts were warning that the
commodities crush and oil crash just after the taper of QE3 were blaring
signals for a downshift in all other financial indicators, the general
response in the mainstream was that we were overreacting and paranoid and that
the commodities jolt was temporary. Perhaps the fact needs repeating
that it’s not paranoia if they are really out to get you.Only a short
time later, it is truly amazing how the rhetoric from the mainstream economic
yes-men is changing. So now that the mainstream is willing to
report on clear economic dangers, what happens next?
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10
Things Every Economist Should Know About The Gold Standard. by
George Selgin via Alt-M.org, Submitted
by Tyler Durden on 08/19/2015
At the risk of sounding like a broken record we'd like to say a bit
more about economists' tendency to get their monetary history wrong; in particular,
the common myths about the gold standard. If there's one monetary history topic
that tends to get handled especially sloppily by monetary economists, not to
mention other sorts, this is it.Sure, the gold standard was hardly perfect, and
gold bugs themselves sometimes make silly claims about their favorite former
monetary standard. But these things don't excuse the errors many
economists commit in their eagerness to find fault with that "barbarous
relic." The point, in other words, isn't to make a pitch for
gold. It's to make a pitch for something - anything - that's better than
our present, lousy money.
..
In particular,
I'd like to take aim at common myths about the gold standard. .. Sure, the gold standard was hardly
perfect, and gold
bugs themselves sometimes make silly claims about their favorite former
monetary standard. But these things don't excuse the errors many
economists commit in their eagerness to find fault with that "barbarous
relic."
Here
is a "jump to" list of the 10 points covered:
1. The Gold Standard wasn't an instance of government price fixing. Not
traditionally, anyway.
2. A gold standard isn't particularly expensive. In fact, fiat money tends to cost more.
3. Gold supply "shocks" weren't particularly shocking.
4. The deflation that the gold standard permitted wasn't such a bad thing.
5. It wasn't to blame for 19th-century American financial crises.
6. On the whole, the classical gold standard worked remarkably well (while it lasted).
7. It didn't have to be "managed" by central bankers.
8. In fact, central banking tends to throw a wrench in the works.
9. "The" Gold Standard wasn't to blame for the Great Depression.
10. It didn't manage money according to any economists' theoretical ideal. But neither has any fiat-money-issuing central bank.
2. A gold standard isn't particularly expensive. In fact, fiat money tends to cost more.
3. Gold supply "shocks" weren't particularly shocking.
4. The deflation that the gold standard permitted wasn't such a bad thing.
5. It wasn't to blame for 19th-century American financial crises.
6. On the whole, the classical gold standard worked remarkably well (while it lasted).
7. It didn't have to be "managed" by central bankers.
8. In fact, central banking tends to throw a wrench in the works.
9. "The" Gold Standard wasn't to blame for the Great Depression.
10. It didn't manage money according to any economists' theoretical ideal. But neither has any fiat-money-issuing central bank.
OPEN this web to read the rationality for every point: http://www.zerohedge.com/news/2015-08-19/10-things-every-economist-should-know-about-gold-standard
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China
Strengthens Yuan By Most In 2 Months Following Another Massive Liquidity
Injection. Submitted by Tyler
Durden on 08/19/2015
The PBOC set the Yuan fix 0.08% stronger - the biggest
'strengthening' in 2 months, which is interesting because The IMF's confirmation of a delay to Yuan
inclusion in the SDR basket to Oct 2016 (pending a year-end
decision) asked for more flexibility. For the 3rd day in a row, The
PBOC injected massive liquidity (120bn today, 110bn yesterday, 120bn
Monday). Shanghai margin debt declined for a 2nd day in a row and
Chinese stocks look set to open weaker.
[ The aim of IMF is to save “the
dollar” & allied currencies now in
big trouble. .. China do not need such “basket” .. their aim is to compete with
those in the basket .. by relying on gold .. Who control the huge market .. is
what is at stake. .. In this regard: China is winning this currency war .. and
is the IMF that wants China inside the basket .. Not in reverse]
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The rise of populism is not just a U.S. issue.Globalization
and deregulation, especially with regard to the open adoption of new technology
and work structures, is increasingly being called into question. As we have
discussed previously, there is increasing potential that major political and
economic changes will emerge from this vote. The emergence of Donald
Trump and Bernie Sanders is a reflection that the populists want a change in
the direction of American policy. We will be watching closely to see
whether any serious changes result.
[ TWO FACTS are clear: 1st. The bubble Trump was artificially
inflated to cope with the Clinton-mafia menace .. Trump contribute to put down
such nasty figure. 2nd fact: None of them –neither Hillary nor Trump
–both of them added- have even 50% of the national electorate. “As The Hill reports, Donald Trump tops Hillary Clinton (45% to 42%) in the latest poll
from swing-state North Carolina. Clinton tops Jeb Bush and Rand Paul, so
there's that, but eight Republicans (including Trump) are beating the former
secretary of state”. YOU CAN TAKE WHATEVER “RELIABLE POOL” TO VERIFY
THIS FACT. .. MEANING: the dirty couple have destroyed
themselves and they do not have real candidate. It is up to the population to
help TO put together and alliance of the best in both collapsing parties (to me
the alliance between SANDERS & RAND PAUL)
and bye bye to the nasty figurines of the dirty couple. THAT IS THE ONLY
LIKELY OPTION TO REBUILD AMERICA ]
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"There
Is No Other End Than A Bad One... It's A Mathematical Certainty". Submitted
by Tyler Durden on 08/19/2015
When we see guys like Bernie Sanders get visibly angry at
guys like Alan Greenspan it behooves all of us to go beyond the entertainment
of it or some prima facie agreement and to truly understand why the
anger is justified. If we were to all take the responsibility to understand the
lifeblood of our American existence i.e. the economy, we will most
certainly be moved to remove not only the policymakers but the system that
together serve only those at the top of the economic food chain and at a cost
to the rest of us. When we do we will be asking why in the hell is
no one yelling at Janet Yellen??
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[Check these graphs and convince yourself about the reality of
our economy]. OPEN: http://www.zerohedge.com/news/2015-08-19/clusterfed-bonds-bullion-pumped-while-stocks-dollar-dumped
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Keeping
The Bubble-Boom Going. by Thorstein
Pollett via The Mises Institute. Submitted by Tyler
Durden on 08/19/2015
To keep the credit induced boom going,policy makers have
convinced themselves that more credit and more money, provided at ever lower
interest rates, are required. Why then, as The FOMC Minutes just
showed, do the decision makers at the Fed want to increase rates? If
Fed members follow up their words with deeds, they might soon learn that the
ghosts they have been calling will indeed appear — and possibly won’t go away. The
sooner the artificial boom comes to an end, the sooner the recession-depression
sets in, which is the inevitable process of adjusting the economy and allowing
an economically sound recovery to begin.
…
As The FOMC Minutes just showed, The US Federal Reserve
is playing with the idea of raising interest rates, possibly as early as
September this year. After a six-year period of virtually zero
interest rates, a ramping up of borrowing costs will certainly have tremendous
consequences. It will be like taking away the punch bowl on which all the party
fun rests.
Subtitles in this art:
1- Low Central Bank Rates have been Fueling Asset
Price Inflation
2- A Brief History of Low Interest Rates
3- Why Raise Rates Now?
4- Conclusion:
In any case, if Fed members follow up their words with
deeds, they might soon learn that the ghosts they have been calling will indeed
appear — and possibly won’t go away. For instance, higher US rates will suck in
capital from around the word, pulling the rug out from under many emerging and
developed markets.
To be on the safe
side: It would be the right thing to do. The sooner the artificial boom comes
to an end, the sooner the recession-depression sets in, which is the inevitable
process of adjusting the economy and allowing an economically sound recovery to
begin.
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Market pundits robotically suggest that the Fed should
not raise rates because inflation is too low. Well, if zero
rates and $4 trillion in asset purchases did not boost inflation, do they
really believe that another few months at zero rates will do the trick?
Some Fed researchers are actually asking whether policies have become
counter-productive to their dual mandates. The path to rate normalization will
not come without pain.On the contrary, there will be a difficult period,
potentially even a damaging recession. Fed doves will likely
feel vindicated. However, while a period of hardship is likely
inevitable, purging both bad businesses and market speculation is
vital for long-run economic health and will allow more productive businesses to
evolve over time.
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East
Ukraine's Donetsk Republic Will Hold Referendum To Join Russia. Submitted
by Tyler Durden on 08/19/2015
Having waited for over a year for the Ukraine civil
war/conflict to be relegated to back page status, if that, Putin has finally
given the green light, and as Xinhua
reports, leaders of the self-proclaimed "Donetsk People's
Republic" are planning to hold a referendum on seceding from Ukraine and
joining Russia, the Donetsk-based Ostrov news agency reported Wedne
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10 REASONS WHY THE FED WON'T
RAISE INTEREST RATES http://www.330ramp.com/blog/2015/8/19/10-reasons-why-the-fed-wont-raise-interest-rates
1. China Hard Landing - Last week China decided
to devalue their currency which brings into question the strength of the global
economy.
2. Football - With football season kicking off,
there are a lot of Fantasy Football lineups to be filled out. Paying
attention to the draft is much more important than a 0.25% rise in short term
interest rates.
3. Off The Highs - The market has been range
bound almost the entire year. The S&P 500 recently had a couple of
brief scares below 2100 but Janet (Yellen) is looking for 2150-2200 before a
rate hike can even be put on the table (Update: $SPY just went below 200DMA).
The US equity market is currently in the 3rd longest bull market ever.
Janet will not settle for anything less than gold (which is now also
worthless).
4. The Plague - With a couple of cases of people
catching The Plague in California and Colorado, Janet doesn't want to further
sicken the market by raising interest rates. See last year's Ebola scare.
5. Commodities and Inflation - Prices of most
commodities have been hammered the past few years (still waiting to see this
tax cut passed on to the consumer). This weakening of commodity pricing
could be bad news if it is a sign that global demand is also weakening.
The Fed has also been keeping their eye on inflation (deflation), but we
haven't hit the magic 2% inflation target since 2012.
6. Donald Trump - With Donald Trump leading the
polls and dominating the news, this gives Janet the perfect distraction to kick
the can until after the 2016 election. An even better distraction would
be for Janet to announce her plans to run for President. I'd vote for
her, but only if she agrees to nominate me as Treasury Secretary.
7. IMF Warning - Back in June, the International
Monetary Fund (IMF) warned about potential risks of a Fed tightening. At
this point, the Fed's only job is to fall in line and listen to what the IMF
says. If they can "fix" Greece, I'd swallow my pride and listen
to them too.
8. Addiction - We are addicted to free money
(and fast food). Once an addict, always an addict. From the federalreserve.gov website: "Low
interest rates help households and businesses finance new spending and help support
the prices of many other assets, such as stocks and houses."
Key emphasis on stocks.
9. Labor Market - The Fed won't raise rates
because we haven't hit our full unemployment (moving) target.
10. The Ghost of 1937 - I know it sounds
super scary. Anyways, about 80 years ago the Fed tried to pull off an
unsuccessful rate hike after the Great Depression causing another recession and
a 50% market decline. Good enough for me. If it happened 80 years
ago it MUST be exactly the same today because nothing has
changed since then.
Bonus: In case I'm wrong and the Fed does raise rates
at least we know they can always lower them again when things turn to shit.
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Distressed
American Workers Expose The Fallacy Of Improving Unemployment Numbers. Submitted by Tyler Durden on 08/19/2015
“Over the past five years, our businesses have created
more than 11 million new jobs. Our economy is growing and creating jobs at the
fastest pace since 1999.” - President Obama
Despite those feel-good headlines, the average American
is far, far from solid financial footing.
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Naysyers are warning that the recent plunge in
Bitcoin prices - from almost $318 at its peak during the Greek crisis, to $221
yesterday - due to growing power struggle over the future of the
cryptocurrency that is dividing its lead developers could spell the end
of the cryptocurrency. On Saturday, a rival version of the current software
was released by two bitcoin big guns. As
Reuters reports, Bitcoin XT would increase the block size to 8
megabytes enabling more transactions to be processed every second. Those who
oppose Bitcoin XT say the bigger block size jeopardizes the vision of a
decentralized payments system that bitcoin is built and represents a
"governance coup.". However,the turmoil in the price also
coincides with some rather notable global macro events from Asia
(where Bitcoin is extremely popular).
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what have we accomplished?
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The
Next Leg Of The Commodity Carnage: Attention Shifts To Traders - Glencore
Crashes, Noble Default Risk Soars.
Submitted by Tyler Durden on 08/19/2015
One month ago we asked: "Which will be first:
Trafigura, Mercuria or Glencore." Today we got our answer.
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After
6 Years Of QE, And A $4.5 Trillion Balance Sheet, St. Louis Fed Admits QE Was A
Mistake. Submitted by Tyler
Durden on 08/19/2015
"Evidence in support of Bernanke's view of the
channels through which QE works is at best mixed. There is no work, to
my knowledge, that establishes a link from QE to the ultimate goals of the Fed
inflation and real economic activity. Indeed, casual evidence suggests
that QE has been ineffective in increasing inflation."
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After yesterday's slamming efforts, precious metals are well
bid this morning following the USD flash crash this morning.Silver has
regained yesterday's losses and gold is hitting one month highs...
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China
Rushes To Inject Hundreds Of Billions In Liquidity To Offset Yuan Intervention.
Submitted by Tyler Durden on 08/19/2015
Now that the PBoC has created a situation where it’s forced
to prop up the yuan via open FX ops just about as often as it’s forced to prop
up the SHCOMP via China Securities Finance, concerns are growing about
liquidity and a severe tightening of money markets, prompting the PBoC to
inject hundreds of billions in emergency funding.
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Submitted by Tyler
Durden on 08/19/2015 - 07:46
- $1
trillion in Emerging Market outflows in the past 13 months (FT)
- German
lawmakers back third Greek bailout (Reuters)
- Dutch
government faces test in "junkie" Greece debate (Reuters)
- China
c.bank offers selected banks medium term lending facility (Reuters)
- Another
"expert network" busted: Promontory settles over StanChart probe
(FT)
- Angola
to Ship Most Crude in Four Years to Meet Asian Demand (BBG)
- Hackers
dump data online from cheating website Ashley Madison (Reuters)
- Yuan’s
Devaluation Brings Losses for Some (WSJ)
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German
Parliament Approves Third Greek Bailout, Opposing Votes Drop. Submitted
by Tyler Durden on 08/19/2015
With a Greek payment to the ECB due tomorrow, there was no
doubt that Germany's parliament would ratify the Third Greek bailout, and the
only question was whether political opposition to a Greek rescue would be
larger or smaller than expressed in the last such Bundestag vote on July 17.
Sure enough, following a speech by Schauble urging his fellow MPs to give
Greece a "chance for a new start", moments ago the German parliament
approved the third bailout with 454 votes for, 113 against - of which 63 were
Merkel's lawmakers - and 18 abstentions.
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TO SEE THE PICTURE PRESS THE TITLE
The US and world economies are frauds that are coming
unraveled. The Greek bailout is the most recent example of “kick the
can down the road” solutions. The US housing bubble was an attempt to
cover up/recover from the dot-com bust. Now the US is in a financial
bubble engineered to recover from the housing bubble debacle. Soon this
bubble will burst. Only the date is unknown.
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NEWS IN SPANISH
Opinión.
La colonización occidental, el mayor cataclismo
demográfico de la historia de la humanidad. René Naba
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Bolivia. Respuesta a “llamado a la reflexión": Sobre el papel de las ONG en Bolivia y su
financiamiento. Álvaro García Linera
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Feminismos. Cinco modalidades de rapto de mujeres: de la
India al Sáhara, de Arabia a EEUU. Nazanín
Armanian
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Cultura. Reseña
de “En la fragilidad de la vida”, de Joaquín Sánchez Sánchez. Precariedad de la existencia y conflicto social. Enric
Llopis
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Opinión. -Entrevista
radial con James Petras. “En Brasil se está dando la desintegración de
la política centrista que impuso Lula". Efraín
Chury Iribarne
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Neoliberalismo, Socialdemocracia y
Sindicalismo: Un análisis Histórico con una perspectiva anticapitalista. Raúl
Navas
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Chile.
-Entrevista con Verónica de Negri. “En Chile la represión sigue, como
sigue el programa impuesto por Pinochet”. Andrés
Figueroa Cornejo
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GLOBAL RESEARCH
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70,000
And Counting! Petition to Arrest Netanyahu If He Visits UK Likely to Increase
to over 100,000
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Fukushima:
Thousands Have Died, Thousands More Will Die. Read
also: Fukushima
2.0: Japan Re-Starts Nuclear Plant Near Active Volcano
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PRESS
TV
Iran
says committed to supporting Syria. Wed Aug 19, 2015 Iran's Parliament (Majlis)
Speaker Ali Larijani says Tehran will continue providing humanitarian
assistance to the Syrian nation.
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‘US
out to fuel violence in Muslim states’. Wed Aug 19, 2015 Iran’s Velayati says the US
tries to spread violence and extremism inside the Muslim nations.
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Turkey’s
Erdogan predicts early elections. Wed Aug 19, 2015 President Erdogan says Turkey
is headed toward early elections, following the parliament's failure to set up
a coalition government.
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Hezbollah
backs Aoun for president. Wed Aug 19, 2015 The Lebanese resistance
movement, Hezbollah, supports a presidency bid of Michel Aoun.
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Russia
sends new arms to US border. Wed Aug 19, 2015 The United States says
Russia is planning to deploy new air defense systems to its arctic border with
the US and Norway.
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‘Russia,
Iran agree on S-300 delivery’. Wed Aug 19, 2015 A Russian diplomat says
Moscow and Tehran have agreed on the delivery of the S-300 defense system.
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US
objects Russia’s sale of S-300 to Iran. Wed Aug 19, 2015 The US says it would object
to Russia’s decision to sell the S-300 missile defense system to Iran.
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