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WED JUL 8 18:46:08 UTC 2015

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http://usawatchdog.com/plunge-protection-team-losing-control-of-markets-jim-sinclair/

 

Plunge Protection Team Losing Control of Markets-Jim Sinclair

 

The US Plunge Protection Team is losing control of the markets, and Sinclair warns, “They got the dickens scared out of them. They actually backed off providing the funds necessary. . . . That’s your warning. The warning is markets can overrun plunge protection teams. Markets can and will overrun the manipulation of metals and currencies. The market will overrun the false strength in the US dollar. The idea that a lift in interest rates would be beneficial to the dollar is absolutely incorrect. We do know the limits of the Plunge Protection Team, and we do know the omnipotent power of the Fed is a total fallacy.”

 

On gold, Sinclair says, “I didn’t call the top in gold in 1980 because of any kind of a system. I was told, I acted on what I was told.”

 

His sources are talking again, and Sinclair says he was told: “Number one, the downside on gold is extraordinarily limited here. Two, the rally we are facing that will come in gold is going to be stupendous. Three, they tell me we may never call you back because this may be the rally you don’t sell. This may be the rally you don’t sell because gold is moving from a currency form to a valuation form. . . . This may be the last time we call you means this is a rally that is not meant to be sold. What is coming up in front of us is the Great Reset where currencies wear their gold like ladies wear a necklace, and the most beautiful necklace will be the strongest currency. The ladies without the necklace won’t be invited to the ball. Huge changes are coming. The dollar is always going to be with us, and the yuan and all of the currencies are still going to be there. We are not going to one single currency. The SDR (Special Drawing Rights) is nothing more than a glorified index of currencies. It’s a cure to nothing. How can a package of junk cure the problem of junk? It can’t. The two last men standing will be gold and gold on steroids—silver.”

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http://usawatchdog.com/plunge-protection-team-losing-control-of-markets-jim-sinclair/

 

Plunge Protection Team Losing Control of Markets-Jim Sinclair

 

The US Plunge Protection Team is losing control of the markets, and Sinclair warns, “They got the dickens scared out of them. They actually backed off providing the funds necessary. . . . That’s your warning. The warning is markets can overrun plunge protection teams. Markets can and will overrun the manipulation of metals and currencies. The market will overrun the false strength in the US dollar. The idea that a lift in interest rates would be beneficial to the dollar is absolutely incorrect. We do know the limits of the Plunge Protection Team, and we do know the omnipotent power of the Fed is a total fallacy.”

 

On gold, Sinclair says, “I didn’t call the top in gold in 1980 because of any kind of a system. I was told, I acted on what I was told.”

 

His sources are talking again, and Sinclair says he was told: “Number one, the downside on gold is extraordinarily limited here. Two, the rally we are facing that will come in gold is going to be stupendous. Three, they tell me we may never call you back because this may be the rally you don’t sell. This may be the rally you don’t sell because gold is moving from a currency form to a valuation form. . . . This may be the last time we call you means this is a rally that is not meant to be sold. What is coming up in front of us is the Great Reset where currencies wear their gold like ladies wear a necklace, and the most beautiful necklace will be the strongest currency. The ladies without the necklace won’t be invited to the ball. Huge changes are coming. The dollar is always going to be with us, and the yuan and all of the currencies are still going to be there. We are not going to one single currency. The SDR (Special Drawing Rights) is nothing more than a glorified index of currencies. It’s a cure to nothing. How can a package of junk cure the problem of junk? It can’t. The two last men standing will be gold and gold on steroids—silver.”

We used to call them "market makers"

https://en.wikipedia.org/wiki/Market_maker

 

Since when did they get rebranded as "plunge protection teams".

 

Oh, and I absolutely refuse to carry gold coins round with me.

ever.

 

I flick shrapnel like that at the homeless guys.

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Rumour here:

 

http://www.whatdoesitmean.com/index1906.htm

 

Western Banks In Turmoil As British Banking Giant HSBC Nears Total Collapse

 

.... reports began to surface in the UK that hundreds-of-thousands of people were not being paid their salaries, which this British banking giant first tried to deny, but a few hours later blamed their failure to pay on a “computer glitch.

 

hsb1.jpg

MoF experts in this report dismiss HSBC’s explanation of a “computer glitch” noting that this phrase is commonly used by Western banking and financial institutions as a “cover story” to mask their inability to access cash…and is likewise being used to explain what is preventing hundreds of American mutual and exchange-traded funds from providing their investors with the values of their holdings, and why one of the world’s largest brokerages, Charles Schwab,shut down earlier today too.

 

As HSBC is Britain’s largest bank, this report notes, it has appealed for an emergency loan from the Bank of England (BoE), with the BoE then appealing to the European Central Bank (ECB), and the ECB then appealing to the US Federal Reserve System (FRS).

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FUD

http://finance.yahoo.com/q?s=HSBA.L

 

HSBC UK is rebranded Midland Bank

https://en.wikipedia.org/wiki/Midland_Bank

 

http://www.bloomberg.com/news/articles/2015-08-28/hsbc-says-some-clients-not-receiving-payments-on-u-k-payday?cmpid=yhoo

The problem was with the BACS system, which processes electronic payments, the bank said in an earlier Twitter post. HSBC hasn’t elaborated on the exact cause of the problem. Monday, Aug. 31, is a public holiday in Britain, and the glitch had raised the prospect that many people would have been left without pay before the long weekend that marks the end of the summer.

 

__

Glitch wasn't related to hacking, person familiar says

 

I say, quite likely this is entirely related to hacking. probably a DDoS.

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Hyperinflation here we come!!!

 

http://www.zerohedge.com/news/2015-08-27/its-official-china-confirms-it-has-begun-liquidating-treasuries-warns-washington

 

It's Official: China Confirms It Has Begun Liquidating Treasuries, Warns Washington

 

now that China's UST liquidation frenzy has reached a pace where it could no longer be swept under the rug and/or played down as inconsequential, ....[/size] it would appear that the only way to prevent China and EM UST liquidation from, ..."choking off the US housing market," and exerting a kind of forced tightening via the UST transmission channel, will be for the FOMC to usher in QE4.[/size]

QE was inflationary.

"reverse QE" is a mammoth deflationary spiral.

 

(BTW as an FYI, central banks are reactionary, not proactive, raising rates isn't cos they want to:

http://markets.ft.com/Research/Markets/Government-Bond-Spreads

 

Its because they'll have too.)

 

Deflationary spirals.

Are like gas chambers for people with debt.

 

Whereby high interest rates and falling prices nuke entire net worths in hours or days, creating defaults, higher interest rates, and lower prices, which cause more defaults.... Until there is very little debt left.

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Won't the Fed have to do QE to infinity in response to China (and other nations) selling their treasuries?

QE only works for treasuries held by institutions who trade in $.

 

The Fed can't repay China by increasing their federal reserve balances.

 

every $ of treasury China sells is a $ that "disappears" from the US economy and enters the Chinese economy.

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http://www.zerohedge.com/news/2015-08-29/citigroup-chief-economist-thinks-only-helicopter-money-can-save-world-now

 

Citigroup Chief Economist Thinks Only "Helicopter Money" Can Save The World Now

 

 

the estimated size of the RMB carry trade could mean that before it’s all over, China will liquidate as much as $1 trillion in US paper, which .... would effectively negate 60% of QE3 and put somewhere in the neighborhood of 200bps worth of upward pressure on 10Y yields.

 

And don't forget, this is just China.

 

ChinaTeaser_0.png

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http://www.zerohedge.com/news/2015-08-29/citigroup-chief-economist-thinks-only-helicopter-money-can-save-world-now

 

Citigroup Chief Economist Thinks Only "Helicopter Money" Can Save The World Now

 

 

the estimated size of the RMB carry trade could mean that before it’s all over, China will liquidate as much as $1 trillion in US paper, which .... would effectively negate 60% of QE3 and put somewhere in the neighborhood of 200bps worth of upward pressure on 10Y yields.

 

And don't forget, this is just China.

 

ChinaTeaser_0.png

 

LISTEN CAREFULLY:

 

China has bungled its attempt to slow the economy gently and is sliding into “imminent recession”, threatening to take the world with it over coming months, Citigroup has warned. As The Telegraph's Ambrose Evans-Pritchard reports, Willem Buiter, the bank’s chief economist, said the country needs a major blast of fiscal spending financed by outright "helicopter" money from the bank to avert a deepening crisis.

Speaking on a panel at the Council of Foreign Relations in New York, Mr Buiter said
the dollar will “go through the roof” if the US Federal Reserve lifts interest rates this year, compounding the crisis for emerging markets.

 

"
So why it matters is that the competence of the Chinese authorities as managers of the macro economy is really in question
- the messing around with monetary policy, the hinting on doing things on the fiscal side through the policy banks. But I think
the only thing that is likely to stop China from going into, I think, recession
- which is, you know, 4 percent growth on the official data, the mendacious official data, for a year or so
- is a large consumption-oriented fiscal stimulus, funded through the central government and preferably monetized by the People’s Bank of China.

 

Well,
they’re not ready for that yet. Despite, I think, the economy crying out for it, the Chinese leadership is not ready for this.

Or translated from 'economist' to English - a massive helicopter drop of cash (well 1s and 0s) into the inflating hands of Chinese soon-to-be-consumers is al lthat can the world from another recession... and The Chinese leadership may need to stare into the abyss before they actually pull the trigger. Just think of the pork prices?

20150810_pork3.jpg

Mr Buiter had some more to add on the idiocy of Chinese Equity markets. He said the stock market crash in Shanghai and Shenzhen...

...is a sideshow.
Consumption effects, you know, wealth effects, minor.
Almost no capex in China is funded through share issue. And so it is a symbol of the policy failure rather than intrinsically economically important.

 

China’s problems are excessive leverage in the corporate sector, in the local government sector, and the very fragile banking system, and shadow banking system.
As Chen pointed out, it won’t be allowed to collapse because it is underwritten by the government, but it won’t be a source of great funding strength.

=== ===

Are we approaching an EXPLOSION of QE - in China and America?

That may eventually leave Gold and Silver as "the last men standing"

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China has bungled its attempt to slow the economy gently and is sliding into “imminent recession”

That is the most contrarian thing I have ever heard.

 

"Slow" growth for china is still 3 times "good" growth for the US.

 

There are no signs of recession in China afaik, in fact numbers have been coming in "above expectations".

Latest figure is

http://www.cnbc.com/2015/07/14/china-2q-gdp-grows-70-slightly-above-expectations.html

 

7%

 

WHEN THEY ARE ALREADY THE SECOND BIGGEST ECONOMY IN THE WORLD

 

That is also probably lies. Since measuring is so hard, and the grey economy is growing so rapidly.

 

Its' probably more like 9 or 10%

 

China's stock market has absolutely nothing to do with "fundamentals". its still grossly undervalued.

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http://src-fla.us/index.php/news2e629

 

Jim Willie said six months ago that we would know when the collapse was here when we saw extreme swings back and forth in the stock market. Extreme is what we now have. If I saw a car run off the road to the left, then cut across the highway and run off the right shoulder, then back to the left shoulder, I would get out of the way because I would know it was about to crash. That is exactly what we are watching now.

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I think this is an important article

Jim Willie has been saying that once China doesn't get its shipments of gold, we'd reach the next stage

 

http://www.jsmineset.com/2015/08/31/something-happened/

 

“Something” Just Happened! (Reprint)

 

.... This led me to believe China was no longer being delivered gold. No proof of this yet but it will mathematically happen. Why? Because the simple math says so. China/India can only import more than total production for as long as Western vaults have metal to dishoard. Once non delivery does happen and becomes known, our hoard of “power” will be gone and so will the façade of financial strength. Our standard of living will collapse into third world status hand in hand with a broken financial system.

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Rumour from Simon Parkes

http://us9.campaign-archive1.com/?u=4a8bbd95efd926ee0efeb4a3b&id=2b59a1c538&e=3653842ef4

 

*Breaking news as of 31st August inside information reaching me would appear to suggest that the Hong Kong and Shanghai Bank is on the verge of collapse having suffered catastrophic losses in China. As we write this the situation is changing by the minute and we expect more banks to be affected. In Great Britain HSBC applied to the Bank of England for an emergency bale out - this was rejected, the Bank of England appealed to the European Central Bank for help - that was rejected and as we write an appeal has gone to the Federal Reserve of the USA, our inside sources has informed me that the Fed is willing to bail out the Bank if necessary.

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LONG TERM DOW Charts and cycles

 

(Just found the first chart that I made years ago when I was packing)

 

DOW-LT_zpsvoa6uj6b.jpg

 

Low1 : 1788

Start : 1842

Low3 : 1896

Low4 : 1950

Low5 : 2004 : Oct.2002?

 

That Low in the 54 year (about 2004) cycle was timely ... update

 

Dow-1987-all_zps7tmoi2x1.gif

 

The SEVEN YEAR Cycle - note sharp drops when the cycle peak comes "late"

 

Cycle # : HighDate : ---Level-- / --LowDate----- : ---Level--- : Points-Fall : %-Drop // High-No. : Low-No. :

X-Cyc.1 : 08/25/87 : $2,722.42 / 12/04/87-frid . : $1,766.74 : 00,955.68 : - 35.1% :

X-Cyc.2 : 02/01/94 : $3,964.01 / 11/23/94-wed. : $3,674.63 : 00,289.38 : - 7.30% :

X-Cyc.3 : 01/14/00 : 11,722.98 / 10/15/02-wed. : $7,286.27 : 04,436.71 : - 37.8 % :

X-Cyc.4 : 10/09/07 : 14,164.53 / 03/09/09-mon : $6,547.05 : 07,617.48 : - 53.8 % :

X-Cyc.5 : 05/19/15 : 18,312.39 / 09/15/15-ooo. : 13,600.00 : 05,000.00 : - xx.x % :

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I think this is an important article

Jim Willie has been saying that once China doesn't get its shipments of gold, we'd reach the next stage

 

http://www.jsmineset.com/2015/08/31/something-happened/

 

“Something” Just Happened! (Reprint)

 

.... This led me to believe China was no longer being delivered gold. No proof of this yet but it will mathematically happen. Why? Because the simple math says so. China/India can only import more than total production for as long as Western vaults have metal to dishoard. Once non delivery does happen and becomes known, our hoard of “power” will be gone and so will the façade of financial strength. Our standard of living will collapse into third world status hand in hand with a broken financial system.

 

 

 

A DOLLAR CRASH OF BIBLICAL PROPORTION -- BILL HOLTER

 

Published on Sep 2, 2015

Bill Holter is back and he says "Something Just Happened". In fact, something changed three weeks ago and a series of events began which has led to a cascading collapse in global markets and some very strange happenings in the precious metals markets.

 

In silver last week there was confirmed volume of 122,482 contracts traded in a single day which represents 612 MILLION ounces of physical silver … or over 87% of annual global silver production. Meanwhile China has sold $100 billion worth of Treasury bonds over the last two weeks.

 

Bill warns, the leverage in all markets suggests a “holiday” will occur because the unwinding cannot be orderly. The “unwinding” by the way will need to undue the credit built upon credit going all the way back to Aug. 15, 1971.

 

Mr; Holter concludes: "We're going to have an absolute Biblical collapse of our standard of living, and no one even has a clue that it's coming."

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http://www.zerohedge.com/news/2015-09-03/where-us-recession-hiding

 

Is This Where The US Recession Is Hiding?

 

.... there is a huge flashing red light when looking at the entire industrial lifecycle of US manufactured products: while production is brisk, end demand in the form of completed sales, is crashing.

 

while US factories are humming, their output is accumulating in warehouses, overflowing parking lots and storage facilities.

 

What happens when the inventory liquidation finally arrives as end demand fails to materialize? One word: recession.

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when china starts to try and sell the gold back to the western markets.

 

what do you reckon the western markets will be willing to pay for it.

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Mike Harris says that Jade Helm is to inventory federal lands,

that will soon be sold to foreign creditors (China)

 

MP3:

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Rumour from Simon Parkes

http://us9.campaign-archive1.com/?u=4a8bbd95efd926ee0efeb4a3b&id=2b59a1c538&e=3653842ef4

 

*Breaking news as of 31st August inside information reaching me would appear to suggest that the Hong Kong and Shanghai Bank is on the verge of collapse having suffered catastrophic losses in China. As we write this the situation is changing by the minute and we expect more banks to be affected. In Great Britain HSBC applied to the Bank of England for an emergency bale out - this was rejected, the Bank of England appealed to the European Central Bank for help - that was rejected and as we write an appeal has gone to the Federal Reserve of the USA, our inside sources has informed me that the Fed is willing to bail out the Bank if necessary.

 

 

From Bix Weir's newsletter today:

 

The bankster rumor mill seems to be pointing to the US Fed as giving HSBC a secret bailout arranged by Stanley Fischer, the Vice Governor of the US Federal Reserve and former head of the Bank of Israel.

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