Russia & China War Update, Dec Fed Rate Hike, Tanking Economy Continues
By Greg Hunter’s USAWatchdog.com (WNW 215 11.6.15)
The U.S. is sending a dozen F-15’s to Turkey. The F-15 specialize in air-to-air combat. The Pentagon officially says the jets are to “ensure the safety” of NATO allies, but there is much speculation that the jets could also offer protection to the Kurds and the recently announced Special Ops Forces going to help “train” the Kurds. There is also the fear that these jets could meet Russian jet fighters in air-to-air combat either on purpose or accident. They have plenty of other U.S. Airforce firepower in Turkey such as the F-16, F-22 and B-1 bombers, to name a few.
Meanwhile, Russia is having meetings with many Middle East players including Saudi Arabia and Egypt. Speaking of Egypt, there is a lot of confusion over why that Russian passenger jet went down on the Sinai Peninsula. The British say it was a bomb, and ISIS has taken credit for killing more than 220 people. Usually, when you kill more than 200 people, you are a little sheepish, but not ISIS. The group wants credit for the murders of Russians and have almost demanded they get the credit. What a sick group of people. That said the jury is still out on what exactly happened to the Russian passenger jet. The U.S. and Russia say they don’t have conclusive evidence it was a bomb. Some suggest the tail of the plane fell off because it had damage to it years ago and it was not repaired correctly. If it was ISIS that killed those Russians, tourism in that part of Egypt will come to a screeching halt. This will further kill Egypt’s economy that is dependent on tourism. It’s 11% of GDP, and it caters to more than 14 million tourists per year. One thing is for sure, the situation and violence in the Middle East is heating up and not slowing down.
Friction and war talk is also heating up in the South China Sea where China has built islands and claimed territory 600 miles from its shores. The U.S. is sending war ships to the islands and announced it will do so on a regular basis. China is reacting angrily and says its sovereignty is “threatened” and calls the U.S. action “highly-dangerous.” U.S. Pacific Command, Adm. Harry Harris, who is a critic of China’s island building activities, told Congress recently, “The South China Sea is no more China’s domain than the Gulf of Mexico is Mexico’s.” The tensions mount, and the U.S. has conflict with Russia and China on at least two fronts.
Fed Head Janet Yellen is doubling down on the rate hike talk. She told Congress this week a December rate hike is “a live possibility.” Folks like David Stockman say the Fed should raise rates ASAP. Other people say the Fed can’t raise rates, and if it does, stock and bond markets would tank. The IMF has been continually warning the Fed not to raise rates. It is beyond me that the Fed does not know what it’s going to do little more than six weeks from now. The only reason why the stocks and bonds have not tanked is because the Fed and other central banks continue to prop up the global markets.
Join Greg Hunter as he analyzes these stories and more in the Weekly News Wrap-Up.
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About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.
First weekly wrap up in a while and no mention of HILLARY!
Happy to see you direct your focus on other more meaningful topics Greg. Solid Wrap up. Interesting fact: I am currently working for a company that Dane Wigington, the environmentalist engineer you had on last week…use to work for…I was told Dane was brilliant from someone whom worked alongside him. The fact that the company was and still is one of the United States largest defence contractors must not have sat well with Dane. Solid article. Very well done.
Brandon,
The possibility of having a pathological liar in the White House is very meaningful. Thank you for your support.
Greg
Too true Greg!
Perhaps your answer could have been;
The possibility of having ANOTHER a pathological liar in the White House is very meaningful.
Cheers
Col
@ Colin, the Farmer from NZ: glad to see you have not left. I always appreciate your comments.
Somehow to me Hillary is even slyer and smarter than Mr civilians -dronekiller Obama. From what I gather he was a planned and made product, whereas she is calculating and cynical in an even more lethal way.
Thought for the Day – Friday 6th November 2015
In a time of universal deceit – telling the truth is a revolutionary act.
Mike Harvey
Resident in Ireland
At this point, the three leading candidates are all pathological liars – Clinton, Trump, and Carson. I hope Michael Bloomberg will announce that he’s running and put a sane adult in the WH.
Hoopshound,
Clinton, yes, and there is plenty of verifiable evidence to back up that claim. Trump and Carson is just your left wing, communist media and Democratic party lies. You cannot back up that claim.
Greg
Greg, read what was just published about Carson and West Point, as well as his claims reported yesterday that god came to him in a dream and gave him the answers to a chemistry exam so he wouldn’t flunk out of pre med at Yale. Actually, to be fair, his comments are routinely so bizarre that they appear psychotic and makes me wonder if he actually has some kind of neurological or psychiatric problem. But probably it’s just extreme narcissism, just like Trump.
Hoopshound,
You failed to back up your claim. Post sources and links. How do you know God did not come to him in a dream?
Greg
https://www.washingtonpost.com/news/book-party/wp/2015/11/05/ben-carson-the-humblebragging-instrument-of-god/
Also, The West Point story is everywhere.
Hoopshound,
I worked at CNN and ABC as an investigative correspondent for nearly 10 years. Before that I did investigative reporting for two gannet television stations. I know what an investigation looks like. This is a biased hatchet job by totally biased democratic hacks that should be ashamed of themselves. This is why the MSM is on the road it irrelevance and ruin. Hillary Clinton was outed (by her own words) as a liar on what caused the Benghazi attack. She told her family members and leaders in two countries within 24 hours it was an AL-Qaeda terror attack and an anti-Islamic film did not cause it. Yet she lied to the families of the slain and the world along with the Obama Administration for weeks that is was the anti-Islamic movie. The hatchet mainstream media is the Democrats “ultimate super-pac” (as Sen. Rubio said) and totally ignored this revelation. The main stream media is biased and therefore untrustworthy. The “West Point” story is a hack job and the people who wrote and published it are the scum of journalism.
Greg
Go Mr. Hunter go! You rock dude. Thank you for taking the time to give us real information and not pablum.
I am an adult. I can handle the truth!
Oh my goodness that was a work of art.
Thank you JC. Everything but the date I got wrong.
Greg
Also, Occam’s razor.
@Hoops: Oh spare me. Occam’s razor: the simplest explanation is usually the best? I studied that rule at university. Is it always valid? No. It is not.
I don’t know if this makes him pathological but he does make a very clearly false statement.
https://www.yahoo.com/politics/ben-carsons-campaign-admits-he-lied-about-west-181600104.html
No Keith it shows sloppy biased reporting and Politico has already changes the title of the article and backtracked. This is not journalism it is character assignation and the children at Politico suck at it along with everything else they do. They are not worthy to be jingle writers, let along “journalists.” They would not have done this to Hilary Clinton and never questioned President Obama when he was running in 2008.
Greg
News Flash:
“Ben Carson borrowed a pencil from a classmate when he was in 6th grade and never returned it. His campaign may be in jeopardy” – Main Stream Media
Hoopshound:
They’re still holding that seat for you, to vacate this planet. Remember, arrive at least 2 hrs prior to boarding and don’t forget your passport.
LOL.
Greg,
Don’t we have one in the White House now?
The training of the Kurds might be a ruse as well.
http://www.counterpunch.org/2015/11/06/turkey-goes-to-war/
Greg,
Man, you’re a great guy. And in my opinion, you’re the most trusted and respected political and economic news source on the planet. Your professionalism, character, courtesy, and kindness, (even to those you disagree with), are all very admirable. Your reply to Brandon was a perfect example of that.
My thoughts however, are not so reserved. Nevertheless they are factual and true. I believe we’ve past possibility and even probability, to fact. And that fact is not that we have a pathological, but a psychopathic liar in the White House. And to describe that as “meaningful” is much, less than an understatement. A psychopathic liar lies to deceive, for his own gain and agenda. He does it without care or regard for the well being of those he lies to. Washington is infested with them. There is so much more I’d like to say, but it’ll have to wait for another time.
William,
Thank you for your comment and hope there are many more to come.
Greg
Just listened to Dane here: https://www.trunews.com/thursday-november-5-2015-dane-wigington-and-yigal-carmon/
It is a MUST hear!
America’s “enemies within” our borders pulling the controlling strings of power to do us harm … are at it again … this time adding Ebola virus to the chem-trails which create “strings like spider webs” out of the spray jets which are falling down on us … Dane Wigington knows about these Ebola laced spider like strings … but curiously never mentioned it when Greg interviewed him? http://allnewspipeline.com/Chemtrails_Plague_Ebola_Spider_Webs.php
November 11th? I knew you were ahead of your time Greg!
Dan,
I made a mistake and was focused on the 11th month and it came out November 11th instead of 5th. Oh well, what’s done is done, sorry.
Greg
A minor mistake that doesn’t detract from the facts of your report. No harm, no foul.
Thank you 500.
Greg
Good stuff as always Greg!
Great post Greg, The best part about your site is its straight talk! unlike the lies and manipulation of the MSM, so a simple date slip isn’t an issue for us who appreciate
what you do. Talk to most business people and they will tell you they have been just hanging on since the so called recovery has been underway. It won’t take much more of a slow down to really start seeing small businesses closing there doors. As a small business owner I can tell you that I don’t know anyone who is optimistic about the economy.
When the 08 crash happened so many of us pulled every resource possible to survive while the big banks and corporations got bail outs! Add the health care TAX as well as the fact the banks will be no help to small business and continual slowing, the out look is bleak.
Its not gloom and doom to report whats actually happening, it is a travesty to know whats
ahead of the american people and report propaganda! I have faith that God is in control and is the author of history, trust in the finished work of Jesus! he died for our sins, rose again and is coming in Glory!
I really appreciate your hard work Greg.You are doing brilliant job.Thank you so very much for work which you really do.I have one request which is if possible kindly interview Karen Hudes – The world bank whistle blower. It would be really nice to hear from her on the status of Global Currency Reset.
Thank You
Regards,
Rannvijay
RANNVIJAY
“Karen Hudes – The world bank whistle blower”, Really? If I am not mistaken that title was given to KH by KH. It sounds good at first until you do a bit of fact checking.
http://www.avaresearch.com/articles/1502/Exposed-Karen-Hudes-Part-1-.html
Why would you ask Greg to have a person on his show that makes claims about herself and what she does that she cannot back up?
She has been claiming for several years that she is the Acting General Council for the World Bank.
http://www.worldbank.org/en/news/press-release/2014/07/08/statement-former-staff-karen-hudes
Ms. Hudes also claims she is the attorney for the GDF, a Trust she claims that holds at least 1.715 million tons of Gold along with other assets for humanity. She also claims that the trust assets are insured. In fact, in 2014 she told her followers that she made a claim to the insurance company for theft of some of the Gold assets that were part of the GDF.
When asked to produce a 2014 or 2015 insurance policy that would prove most of her claim about the Gold, Ms. Hudes indicated she would be glad to as soon as she is permitted to return to her former office at the World Bank. Really?
No this was a checkmate on her Gold claims.
This person, as an attorney, is incapable of making a phone call to an insurance company requesting a copy of an insurance policy of a client she claims to represent. RANNVIJAY with all due respect here, do you really believe that this type of person would have real insight on the coming Reset?
Of Course, Greg makes those decisions! Great Job again Greg.
Thank you for this report. I think I understand your point of view. Most bloggers are either hard to figure out or drop too many clues I don’t trust!!!
I like that the victims of the air crash are human beings here. The little vendors in Egypt taking people from the airport to the sites…they count with me as much as “politics and history”. If we lose sight of that, we’re just ambulance chasers of sensations.
All the best…
Greg,
Even Blind Freddy can see the US economy is in the dumpster.
Can we “Officially” say R.E.C.E.S.S.I.O.N. !!!
Now where to from here…because the FED has run out of bullets. Monetary policy has no tools left on the shelf. Interest rates …once the go to remedy for sluggish growth…now is nearing NIRP reality. One disaster leads to another. They really are clutching at straws here.
Speaking of Christine Lagarde …..her forte as a Lawyer was her specialisation in Anti-Trust Law…..how appropros her now being head of the IMF. Her time as France’s Finance Minister 2007-11 puts her in a league which ensures she is well versed in the machinations of markets and the absurdity of central bankers. She is acutely aware that they do absolutely the wrong thing at the wrong time.
All we need for confirmation is for the Casino …aka ….The Stock Market…..to rollover. I would suggest that moment is nigh. But then again we are dealing with maniacs and psychopaths. Mr Market could yet have his time to assert his authority.
Thanks Greg, good news wrap. Things are spiraling in the ME and our guy at the controls seems to not have a clue. On the economy, folks here and on other sites have been warning of negative rates and new folks at the top here validate — spiraling. Despite all the warnings, when our Cyprus moment finally arrives, it will be portrayed in the MSM as a “Black Swan”… if they even mention it. Things that are hard to believe may still be true — cognitive dissonance is alive.
David Stockman has a remedy, “Replace The Fed with the free market.”. http://www.zerohedge.com/news/2015-11-04/david-stockman-explains-how-fix-world-7-words — 4 minutes. It might not make the swan go away, but it will be a start.
Look at that dollar index fly — 99.13. Must be all the confidence the market has in Ms. Yellen raising rates 😉 Is this a pump and dump or is a Black Swan about to fly? about to crash? Fly then crash?
Good job.
GREG:
Thank you for your information!
Greg,
I no longer pay any attention to what the Federal Reserve Bank says or does. On the world stage they’re becoming irrelevant. And so is the dollar. The Chinese are expanding their Bond market throughout the world in advance of their IMF Reserve Currency Status in November.
https://www.rt.com/business/321037-russia-yuan-bonds-china/
I, and many others believe that China owns the Federal Reserve Bank. One would have to be suspicious after they bought the J.P. Morgan Chase Bank building in New York City for pennies on the dollar. If that is indeed true, then our financial fate is no longer in the hands of Janet Yellen. Its in the hands of PM Xi.
My theory is once the Chinese have completed the construction of their new exchange system (which includes Reserve Currency status, and Gold re-pricing) you will see the Federal Reserve Bank being used as a funneling mechanism to the Gold backed Yuan by raising rates.
I do not believe the Chinese want to destroy our economic system. I believe that they want to leave it intact by buying it. The question is, can the criminal cabal that controls our banking system and our government be bought off without starting a war? That remains to be seen.
IMF postpones decision until November 30th, But don’t bet on it. The G20 meeting is the 15th of November. It could still happen before then.
http://www.reuters.com/article/2015/11/04/imf-china-yuan-idUSB9N12Y02Y20151104#SdH5GFvjzbbqSLgQ.97
And then what happens if nothing happens by nov 15. And then nov 30. Will you acknowledge that you were wrong again like the countless amount of times before? Will you realize that maybe you don’t have a complete understanding of current events and stop giving these datelines. None of your so called China is gonna pull the plug events have come to pass.
Ease up George. Jerry’s just trying to decipher the mess the world is in. Posting links to news articles helps to form opinions. As long as people understand that they are just that…opinions…then no foul…no harm.
I have to agree with you SIG. Even though there have been times Jerry has not been correct just like everyone else including myself, I actually look for his posts on certain subjects knowing he is trying to inform us of some things that are happening or may happen in his opinion.
The problem with setting dates that are incorrect is that it undermines the credibility of what I believe is a website trying to get information out for the greater good. Our money printing economic policy is not sustainable indefinitely. IMO 5 weeks or 50 years, who knows? I grew up in the San Francisco Bay area. It is a geological fact that the region is overdue for a mega quake. However, if I was to run around and scream ” San Andreas fault is going to give before the end of the year! ” and do it repeatedly and the date comes and goes with nary a shake, am I doing the public a service or a disservice? Just food for thought.
Mark,
I would say the crash is more predictable than predicting a quake and you can watch the economic deterioration in real time. That said, your comment on setting dates is well made and well taken.
Greg
Your took the words right out of my mouth, George.
George.
I’m not as nice as Greg. Having grown up on the streets I tend to see people a little differently. You sir are a jackass. Sure I could be wrong about the 15th. I’ve been wrong before. I stringing information together from many different sources. So what? At the end of the day I may be be wrong, but you’ll still be just a jackass.
Curious George,
Jerry’s next action, if it follows his regular pattern, will be to call you names. Offer any facts that don’t confirm his current bias and that has been be his “reasoned” response. Sometimes a poster’s response is better commentary on their knowledge and understanding than their original post. I Appreciate all views presented here, as no one has a crystal ball or all the facts.
Vince.
Congratulations! You win this weeks sniper award. I dedicate this song to you and your Ivy league faculty lounge brain trust.
https://youtu.be/I3yvFmi_q1M
SIG.
I guess I’m going to have to break out a box of crayons for people like George. IT DOESN’T MATTER WHAT THE IMF DOES! THE CHINESE ARE GOING TO BREAK AWAY FROM THE DOLLAR AT A TIME OF THEIR CHOOSING! I’m just trying to put together a timeline based on the information I have, and the headlines. Its a guess that’s all it is.
Follow the trail. The Chinese have loaned us almost 2 Trillion dollars. Maybe that’s chump change to us, but its not to them. They realize that we will most likely default on that loan considering all the other money we’ve borrowed through QE. Are we really dumb enough to think that they would continue to let us manipulate them through a gangster controlled organization like the IMF? The IMF is nothing more than an errand boy for the BIS who has roots in the western banking cabal and they know it.
SIG I just like you an others here. I’m watching an economic train wreck happen right before my eyes, and I’m just trying to get out of the way, and possibly warn others in the process. That’s all. I have no books to sell or nay hidden agenda what so ever.
Jerry,
Some people’s crayons are better than the best articulations of others. “Timing” is the ONLY point of real indictment; and it is always the weakest of all elements to argue. I view such activity as a position of last resort.
It used to be one would position themselves so as to be right continually. Now people settle for being right, until they are wrong. Go figure.
Greg,
I’m posting this video for all those distractors who do not take the Chinese agenda seriously. Here you have U.S. representatives welcoming the Chinese Red Army with open arms in Jacksonville Florida.
https://youtu.be/6KeT6KgPHiA
Take a good look. Do you see cruise missile platforms on those destroyers? I do. But yet we’re supposed to believe that we are at war with China. Does this scene make any sense to anyone? It doesn’t to me, unless you are prepared to accept the premise that we have been literally sold out to the Chinese by our government.
The cheesy remake of “Red Dawn” was on last night. Loving all the pre-positioning propaganda..
I’m still scratching my head over these two Chinese Destroyers sailing into Jacksonville Florida. This morning I conferred with a very close friend of mine who was in the CIA intelligence community during Viet Nam. He confirmed what I have thought all along. That this maneuver is way outside the box of what the Pentagon normally does.
Think about it. We all have to go through security to board a plane, but yet the Chinese can sail two destroyers (armed with cruise missile’s) right into an American port. Is the Obama administration dumb enough to think that those missile’s couldn’t be retrofitted with nuclear war heads? I mean my God. Those missiles have a 800 mile range and could easily hit any major city within the United States. Before you respond by saying I’m paranoid let me ask you this. Was it worth the risk?
I think the bigger question is, do they even care? I have two words to say. “Bundy Ranch” ! I think these is another case of the Chinese checking out their new digs.
Jerry, If I were a Chinese soldier I would be thinking , This is going to be easy.
Change of Tune there Jerry.
You have gone from a manic China collapsing the system to now wanting it to survive …so that they can own it.
I made some points on this very subject over some time now… about how China does not want to create a systemic failure….apparently Bill Holter seems to acknowledge my points with a congratualtory “Dislocations everywhere” comment. Check it out on the recent interview…..oh…..you did already …judging by your comment !!!
Good to see you have removed your rose coloured glasses and replaced them with clear glass. Funny how a little logic and common sense can give you clarity. Taking a step back also helps because sometimes we miss the forrest for the trees.
SIG.
Check this out. The Chinese are using bitcoin to purchase more Gold.
http://www.thedailyeconomist.com/2015/11/got-karatbars-chinese-using-bitcoin-as.html
At this point it really doesn’t make any difference to me if people can’t figure out that the hammer is about to drop. If they want to continue to live in fantasy land that’s their business. I only post this information for people like me and you SIG that are spectators in the greatest financial spectacle the world has ever seen. Everyday it blows my mind.
SIG
I don’t believe I have ever waivered in my assessment of the Chinese. (check my post) I will admit the timing of this reset has been off because of so many moving parts, and pieces of a massive economic shift, but that doesn’t decrease the financial impact on our way of life when a 40% devaluation in currency takes place.
I find it absolutely asinine that people want haggle about timing. The crash happened in 2008. We just haven’t felt the full impact yet because of QE and market manipulation. Once the Chinese break from the current system we will all have a “set date” with reality. That’s what I’m watching.
Jerry … JP Morgan/Chase if now in Chinese hands … means they have the physical silver market cornered and have probably made a deal with Goldman Sachs to go after the bullion banks who own short positions in “paper silver” and “paper gold” … if the Chinese also “control the Fed” then the raising of interest rates is to their benefit … as raising rates strengthens the US dollar (and China has a lot of US dollars to get rid of) … so perhaps the dollar won’t be allowed to fall until the Chinese have gotten rid of all their dollar assets (the USD index is now unbelievably pushing 100) … I’m not sure what this will do to the time-line for a currency re-set … but rising rates will definitely put a cramp in the carry trade so I guess more “underhanded behind the scenes QE to the banks will be necessary) … all the hidden QE will likely only become public knowledge after the Chinese unload all their dollars and can afford to allow the dollar to drop in value!
A conversation on an EMP was started on a former USAWD comment section. I can’t find it now, but wanted to leave this link featuring Ted Koppel trying to sound the alarm.
https://www.youtube.com/watch?v=a-lxZtHjhkg
I linked, after requested to several books.
I read “One Second After” a few years ago: here is the link: http://www.amazon.com/One-Second-After-William-Forstchen/dp/0765356864
“One Year After” link: http://www.amazon.com/One-Year-After-A-Novel/dp/0765376709/ref=pd_bxgy_14_img_2?ie=UTF8&refRID=1JCYWRBWDKF2439J7F5Z
The EMP commission website: http://empcommission.org
Here is a link to a 208-page PDF report that is old.
http://empcommission.org/docs/A2473-EMP_Commission-7MB.pdf
There are two places in the US that are safe from and EMP pulse: Pike’s Peak in Colorado and Mt. Weather, near Washington DC.
For all of those government employees with nice shiny badges (that include directions on the back to the nearest COG site) get ready. COG: Continuity of Government.
There is a most excellent series that talks about this idea, in detail: The Wool Series, by Hugh Howey. Amazing series. An amazing author. Mr. Hunter can you interview Mr. Howey? I stumbled onto his books a few years ago and the Wool Series impressed me greatly.
This author has traveled the world and was able to translate his ideas into fiction in a very lively way.
@Faith
Thanks!
Good wrap up Greg. If the Fed decides to raise rates in December I’ll be taking that as a “this is the end” decision. Perhaps they feel they are better able to maintain some credibility while letting the dollar unwind in a more controllable fashion. I don’t know, perhaps it’s just a stall tactic waiting for a bigger event to take place. We live in exciting times that much I know for sure.
Great weekly wrap-up as usual, Greg.
The nation is in deep doo-doo as everything, mkts, world production, western birth-rates, international relations, the European invasion, etc seems to be going the wrong direction.
I see this morning’s NF jobs report seems WAY out of line as it was much higher than all of the analysts had predicted. I suspect Ms Yellen might try to use is as justification to raise rates, though I doubt she will. If she did, she would then be the Grinch who stole Christmas.
Hillary must be beaten next year or the country will be sold down the river by the conniving, broom-pilot. What a sad state the US is in, when she is the best choice of the dems!
out
The fed WILL raise rates and will go negative- that has been my view since Yellen was installed.
They want to raise them so they can lower them
In 2013 we wrote
Upon receiving word that Ms. Yellen would be the nominee we wrote: “…we will have gone from the low interest rate policies of Alan Greenspan, to the no interest rate policies of Ben Bernanke to the negative interest rates of Janet Yellen.”
https://smaulgld.com/negative-interest-rates-and-janet-yellen/
I agree Greg, if they don’t raise rates in Dec they won’t.
The “derivatives” issue, however is overblown. Derivatives are constantly expiring, new ones being entered into, amended etc. The Fed has telegraphed a rate hike long enough for the derivative markets to adjust. There are always winners and loser in the derivatives market.
What blew up in 2008 was far too many traders believed that their triple a rated mortgage securities were unassailable. Irrespective of what the alt media thinks, the most recent trader view is 72% think the Fed will raise rates. If they believe that, they have adjusted their derivatives contracts accordingly.
Smaugld,
Dont make the mistake of assuming the FED controls the market. The Market is bigger than the FED. Derivatives in this environment are the epitome of a ticking time bomb because the FED does not have control. That’s a given.
At one point in September, I think about 70% believed the Fed would raise in October.
They also believed in the spring and June too. All year I have said the fed will raise rates by the end of the year-not because the economy is doing well but to combat de-dollarization and for credibility. Yet the Fed would point to some BS like “sturdy non farm payroll numbers”
https://smaulgld.com/sturdy-non-farm-payroll-numbers-provide-the-fed-with-cover-to-raise-interest-rates/
Looks like its coming true
Thank you Smaugld. We have reached a point where all choices the Fed has are bad. Expect Wall Street to front run the trade.
Greg
Once the Fed crossed the Rubicon with QE1 they eliminated any good choices. They dug themselves a hole so deep, they HAVE to keep digging
Good summary wrap Greg but I’m so confused. Yourself, many of your guests and others from many sites are saying the US economy is in bad shape. Yet, today’s October payrolls numbers soared above expectation. You buying this? Maybe you should get Greg Mannarino back on for some explaining (including his market top claim). Anyone in the U.S. know whats going on?
Aurele,
This is part time seasonal low paying jobs. Mannarino is a good choice.
Greg
Aurele,
You want some stats…(REAL ones) about the US Economy:
U.S. exports are down 11 percent so far this year
Internal freight (rail, truck, air) has fallen every single month (YOY) since March
The most important index for manufacturing in the States the ISM Manufacturing Index has fallen for 4 consecutive months
Wholesale sales in the US have fallen to the lowest levels since the last recession (2007-08)
Inventories have risen to levels not seen since the last recession also
New Home sales dropped by 11.5 % in September
Walmart forward guidance predicting sales to drop by 12 % for the next fiscal year
Layoffs at major firms have reached levels not seen since 2009
Real unemployment in the US is a staggering 23% (John Williams Shadow Stats).
If that data roundup doesnt create a sense of unwellness then try these:
Global GDP is down 3.4% this year alone (when expressed in USD terms).
Global trade is down almost 8.5% during the same period.
China (the world’s manufacturing powerhouse) has recently seen import numbers down 20% from the prior year whilst its exports were down almost 4% on a YOY basis.
Global trade in primary commodities has fallen from an index of 150 to 114 currently represnting a massive drop of 24%. Just looking at Chinese steel demand …that has fallen 9% over the prior year.
You want more evidence that things aren’t pristine……???
Global Debt to GDP has increased dramatically since 2007-08. So much so that many major economies who have been on (and continue to persist with) a debt binge…..are showing signs of debts starting to go bad. This is a precursor for a GREATER Banking crisis. This time the focus wont be on the unscrupulous US Banks. This time it will be global.
The most obvious point here is that the US was in a better position financially and economically, the last time the recession hit. This time it ( and the rest of the Globe)…are sitting at much lower levels in terms of their economic strength and will collide with the next crisis head on. This is what is known as a BUST phase and every nation will experience it. We have seen the rampant mal-investment, speculation and fraud across the entire economy (last time around it was focussed on housing). This in itself presents a bigger problem because the economic, social and political foundations are tested. This, because of the weakness of the foundations, leads to War, Political de-stabilisation and Economic deterioration and Collapse.
I dont profess to know what’s going on…but I have a pretty good idea.
I don’t know much about that tail falling off theory. It doesn’t seem to fit with the patterns of debris (including human body parts scattered over a wide area) and Russia has now suspended all Russian flights to Egypt “until the causes of the incident” can be determined. (https://www.rt.com/news/321055-russia-halt-flight-egypt/)
From the October jobs data, Zerohedge concludes that a rate hike is certain in December. (http://www.zerohedge.com/news/2015-11-06/october-jobs-soar-271k-smash-expectations-unemployment-rate-50-hourly-earnings-spike). Both part-time and full-time jobs rose. It all seems like kabuki theater to me, smoke and mirrors to hide what’s really going on.
NC,
I think it was a bomb too but I was putting it all out there.
Greg
Not to be macabre, but the area of parts, human or machine, is an indicator it was a slower break up in air which would indicate it wasn’t a large bomb, or wasn’t a bomb.
NC Gal. With all of this in mind I find it strange the creator of RT news, and a advisor of Putin was found dead in a Washington hotel. He owned a lot of real estate in LA. Maybe he was going to tell something that was to be kept quiet. Just saying.
http://news.yahoo.com/putin-associate-found-dead-dc-hotel-003132222–abc-news-topstories.html
Occasnltrvlr … My response to your 11/04/2015 where you said: “Paul…, paul. For starters, your initial proposition would require, by thumbnail sketch, that China be willing to redeem some 42,000 tonnes of gold. I know they’ve got a lot, but, uh… .To reiterate, if any country were to back their currency with gold, their economy would rapidly implode”
Occasnltrvlr … I would like to correct your calculation that the Chinese would need 42,000 tonnes to back their currency with gold … you are in error … 42,000 tons is 23 times too high!!! … and you wrongly assume that China backing their currency with gold would implode theireconomy … first of all … the Chinese have 5,860,000,000,000 yuan currently outstanding … if they backed “every yuan” they have in circulation with 0.0000016 oz of gold (as I said previously) it would amount to 58.6 million ounces or approximately 1,830 tons of gold (not the 42,000 tonnes that you calculated) … most everyone knows the Chinese probably have at least ten times 1,830 tons of gold … which means if they really wanted to … they could back each yuan with 0.000016 ounces of gold … lets say they did that … and backed each yuan with a higher amount of gold (0.000016 oz of gold for each yuan) … well then we could redeem an ounce of gold with only 62,500 yuan … and since each yuan is currently worth 16 cents in US dollars … the dollar value of gold would automatically re-set to $10,000 US dollars per ounce!
But as I said before … the Chinese can simply back each Yuan “with a smaller amount of gold” (0.0000016 oz of gold per yuan) and that would have the effect of re-setting one ounce of gold to $100,000 US dollars!
The neat thing about using less gold to back each yuan is that the Chinese can back all their currency outstanding using only 1,830 tons of gold and still have about 10 to 20 thousand tons of gold leftover in reserve at a price of $100,000 US dollars per ounce … so your assumption that the Chinese economy would implode if they backed their currency with gold is also false … in fact the China (and Russia who also owns 10’s of thousands tons of gold) will become the World’s Leading Financial Powerhouse with undreamed of wealth … and the loony tune Neo-con’s and their crazy elite masters will be paupers in comparison!
Correction: Actually that should be about 2930 tons not 1830 tons (must have hit the wrong key on my calculator) … but still … 2930 tons is “a negligible amount of gold” compared to what the Chinese likely actually own … so backing their currency with only 2930 tons can push the price of gold to $10,000 per ounce! … and they will need “even less gold backing” to re-set the gold price to $100,000 dollars per ounce (10 times less)!
Paul
Would their be any advantage for the US, if they could, take the initiative first and reset the price of gold to 5,000 or more? Pro’s’& Con’s?
Keep in mind here, I am just asking for opinion here.
Thanks
Yes Macray … there would be some advantage for the US … as it would help keep some people who currently own US paper in their treasuries … rather then dumping them all for yuan backed notes.
Actually I think someone proposed the idea to back up US fiat (not with gold) but with a “platinum coin” where the coin was re-set to be worth a trillion dollars … not sure what happened to that idea!
I hope everyone realizes that when China backs each yuan with 0.00001 oz of gold you are going to need to turn in 100,000 yuan to get one ounce of gold … since the yuan has a current value of $0.16 cents in US dollars it means you will have to spend $16,000 US dollars to obtain one ounce of gold … now only a fool is going to spend $16,000 US dollars for an ounce of gold when they can go into the “manipulated markets” and buy gold for $1000 US dollars per ounce … it is only when physical gold can’t be supplied at $1000 US dollars per ounce that the price will begin to rise.
Now if the yuan rises in value compared to the US dollar (because the dollar weakens with Fed monetary expansion at a greater rate then Chinese monetary expansion) … and say the yuan rises to $1.20 per dollar … well then 100,000 yuan (which can be converted into one ounce of gold) will cost you $120,000 US dollars … slightly more then what Bill Holter is projecting! … but remember the manipulators must not have any physical gold left in order for the yuan based price “to take effect” … this is why it is crucial for China, Russia, India, etc. to keep buying physical gold out of the hands of the manipulators!
So … is it clear why China, Russia, etc. are buying gold now at the “manipulated price” … we should be doing the same thing … because in a world where oil is priced in Yuan and other goods and commodities are price in yuan … it would be nice to own one ounce of gold that can be converted into 100,000 yuan (which will give you the ability to buy oil and other products you will need) that will likely only be sold to people possessing yuan!
Paul
America would get the inflation it wants if it devalued the dollar against gold making gold $5000 per ounce.
It is unlikely that they would do this as the common theory is that Fort Knox is empty.
Regards
Mike Harvey
Resident in Ireland
Whatever happened to that radar jamming net that Russia has placed over Syria? Remember the capability of a Russian SU24 fighter plane that jammed the radar of the USS Donald Cook last year, and left it a sitting duck? I think this country’s leadership is unknowingly and willingly sending American troops to their deaths, in order to start a war. Anyone joining or supporting the military would do well to remember the words of Henry Kissinger back in the 70’s, “Military men are just dumb, stupid animals to be used as pawns in foreign policy.”
Foggygoggles,
I think you will agree that Kissinger was a weasel who was not fit to be in a leadership role in our government. That %$%^ cut a deal and left a lot of our folks behind in Vietnam. Pure weasel.
Greg
More to the point, the same can be said for the chicken hawks running this country!
Very incisive broad spectrum weekly wrap up.
Kudos for you efforts.
Muahroom,
I spend all week on it off and on. I spend more time on that one WNW broadcast than any other thing I do. Thank you for noticing and for your support.
Greg
Greg…..another kudo for you on your continuing support of honest news and great guests in the analysis of our screwed up financial system and societal decay…..my wife observed today after the jobs report and subsequent PM smash …that this can’t continue forever, can it??…when you look at a graph of monetary base showing the hockey stick rise…and the graph showing the number of paper oz of gold relative to available physical oz….again a ” hockey stick”…,and the overvaluation of the equity markets…..the market cap of Facebook…greater than that of General Electric….really???!….there are so many graphs of financial data showing unsustainable trends , the observation is that what can’t continue,…won’t….without some repurcussions that we really don’t want to talk about……can we really imagine that this will go on for another year…or two…or more…??….babyboomer retirees ….bless them, for they know not what they are facing…..IMHO…..!
Jughead,
COMEX is reflecting the total breakdown of honesty in the markets. The nearly 300 to one leverage is just a more overt signal. No, this can’t go on and when it breaks it will do so quickly.
Greg
Imagine if you controlled the interest rate on your home loan and you had a hard time making your payment already. Would you increase the interest on 19 Trillion.
If you had a printing press down your basement … what would it matter how much more interest you had to pay … just rev up the printing presses!
Have a good weekend Greg. Who’s on store for next week? Chip
Chip,
Eric Sprott. He will be an “Early Sunday Release.” Hope you enjoy.
Greg
XAUUSD: Head fake?
bad URL: https://s01-cdn.anonfiles.com/b529bc4fa387dd5ae93a08f37b453da9.gif
Notice the pink wedge has now been expanded top-side implying more sideways action. But I suspect, the pink wedge is to be expanded bottom side for drop and more volatility. This pattern should persist until everyone including the goldbugs, quit gold. OK, I take that back – lets leave out the goldbugs. Only then, when Gold is severly out of favour and there is no trust in governemnt (CORPORATION), will Gold rise. I suspect the rise will be a hard trudge.
The US added 271,000 jobs! Are you kidding me. Looks like a manufactured number so they can have an excuse for raising interest rates. Things are about to get interesting.
The growing probably of the Syrian situation escalating into WWIII indicates to me that the players (even perhaps including Putin) are part of a Kubuki theatre presentation to distract the world from the coming economic implosion. It’s just all too bizarre, idiotic, and even psychotic to be remotely real. Or are we all now living in the Matrix?
On the interest rate issue … I’m with David Stockman … the Fed must get out of the bind it is in and must give itself some room to maneuver … being stuck at zero forever means the Fed will be a useless entity … and all the people saying “end the Fed” will have a valid argument for its demise … the Fed in order to save itself from extinction must do what ever is necessary to preserve its own life … it must raise rates … and I know exactly how they will do it … just by putting myself in their place … I would immediately increase the free money I’m currently giving to the banks to keep them solvent … instead of giving them one trillion per month (that is now covering their oil derivative losses) … I would boost the amount to between 3 and 10 trillion per month to cover both their oil derivative and interest rate derivative losses … as I gradually move interest rates up … moving interest rates up usually strengthens the US dollar however by counterbalancing with tens of trillions of newly created fiat will keep the US dollar down … in fact so much money will be printed it will most likely drive the dollar downward … and of course all this new fiat will not only drive commodity prices higher … it will light a fire under gold and silver … the consumer price index will rise and people will begin to get COLA increases … money in consumers pockets will translate into economic growth (as long as basic staples like oil, gas, bread and milk can be held down with price controls) … consumers rush to Walmart to buy anything and everything in sight with the COLA and pay increases they get!
I always thought the market sets rates. The Fed merely makes an announcement to reflect what the market is already doing. Since the Fed is the defacto purchaser of Treasury debt, there is no competition to price the bonds and the FED can dictate interest rates to be as low as it wants to keep it’s one customer on his DRUG. Those bonds are over all *REGISTERED* assets – under legal identity NAME of main street ‘PERSON’ with no mind or body associated to the man (male or female) who thinks he owns his car, house, business, whatever that he ignorantly *REGISTERED* with USA Inc. So the FED gets to keep everything in the end because they hold the BONDs when the Treasury eventually defaults.
Those hollow-point bullets are there to take out the serfs if and when he wakes-up and screams FRAUD!
I think what everyone fails to realize is the magnitude of the money printing going on worldwide … inflation will rise more rapidly then even the Fed expects next year … handing out trillions of dollars to the banks “under the table” to keep them solvent is exactly what I used to do when I played monopoly as a kid to keep players in the game and keep the fun going … enough free money will prevent a derivatives implosion and prevent a stock market crash … so I think it is already baked in the cake that a more aggressive monetary tightening will be needed to counteract all the “under cover” and overt money printing … and even more than either the Fed or the markets currently anticipate … and gold and silver will lead the charge as inflation becomes the dominant force in peoples minds and all the deflationist’s (Dent, Armstrong, etc.) are relegated to the dust bin of history!
I should let everyone know that my economic ideas may be “unduly influenced” by my playing many games of monopoly as a kid … where as banker … I always seemed to hand out $500 dollar bills “under the table” to the poor players having financial trouble (in order to keep them in the game) and make the game and fun last longer … and as banker I was always able to buy “Get Out of Jail Free” cards from the players who needed money … and when my bank reserves ran low … all I had to do was simply get “more free cash” out of an old monopoly box I had on the shelf in the closet!
No amount of tightenning can “float” US out of the hole that has been delibertly created for the ONE purpose which was to turn everyone into serfs without the serfs realizing (Read about Edward Mandell House). This entailed the surripticious transfer of the fruits of labour of man, including all his hard earned assets, to FED ownership. Mr. Serf stupidly believed the lie that USA Inc. was the greatest thing on the planet and that he was one of it’s contributors. Little did he know that he was being played. Most are still in the dark. Real money is NOT debt instruments or even real-estate, Gold or Silver. Real money is YOU the man (male or female) with a mindset to create value through your mental and physical labour producing value that empowers your fellow man.
I’m not saying “I like” what the Fed is doing creating trillions of dollars out of thin air every month … will probably raise interest rates in December to get itself out of a bind … I’m just using my “monopoly experience” as a kid … to try and foresee what empowers the bankers … to do what they do!
Question
If the entire world is heading into a downturn how can it be that America who is a 70% consumer society is the only nation growing its economy.
We now have a dollar index sitting at 99.1 and Janet Yellen saying that a rise in interest rates is “likely”.
Mike Harvey
Resident in Ireland
Funny thing is if you look at where the jobs were created in today’s Payroll numbers, almost everything is in the service sector. Is the U.S. manufacturing anything anymore?! The U.S. Government is printing money to support the service sector. In other words, the U.S. is leading the way to becoming the world’s biggest socialist country. Hence. in someone’s thinking, no room for gold in this picture. Print to infinity!
@ Michael Harvey
That is my question exactly, great way to put it. How is this happening, are these new numbers that “tweeked”?
Job report shows major gains…
“Friday’s employment report showing the U.S. economy added 271,000 jobs in October dropped the jobless rate to 5.0 percent – a key threshold that many Fed officials see as consistent with full employment.”
How is this possible?! Are we just wrong about this? How can this be when the number of businesses closing is increasing while the number of new businesses closing is increasing.
I know they tweek the numbers a lot but this much? It does not seem possible!
Am I just the fool here….someone please explain….
Thanks
How can this be when the number of businesses closing is increasing while the number of new businesses opening is decreasing.
Excuse me
It is utterly ridiculous- everyone is always so shocked from one day to the next. Everyone “knew” job creation was slowing, not to mention the pickup in lay-offs. All the “experts” were predicting low numbers: 160, 180, 190 being the high-end. How could they all be so wrong. The number they pulled out of their #$$ this month 271,000-Holy $#IT! the economy is doing great- WRONG-from zerohedge-
As the chart below shows, in October the age group that accounted for virtually all total job gains was workers aged 55 and over. They added some 378K jobs in the past month, representing virtually the entire increase in payrolls. And more troubling: workers aged 25-54 actually declined by 35,000, with males in this age group tumbling by 119,000!
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2015/11/Oct%20additions.jpg
and the media goes with the outstanding jobs story…………………
now-back to the minute-by-minute debate about rates- it’s pathetic-
markets UP- Gold is $1088-
Still at 300k + still a good number?
Greg,
My dad use to fly C130’s from Ankara when we were there in the early 60’s. There was no base housing then and we lived amongst the upper class Turks. I learned then that those people do not screw their heads on like we do. They have no concept of anything Western. In the early 1906’s the Germans didn’t want to do labor so they brought in the Turks….Well remember it was no so long ago that they wanted them out. Well now we see Merkel with an open hand to invite them in. The Germans cannot remember history very well….Muslims and Westerners don’t mix. It would be the same as saying that Westerners will not think like Muslims…doesn’t work. I don’t know why they cannot see this.
Also about the article of Janet Yellen…I noticed the picture of a skunk on the front page near her name. Is that her new logo????
Now if I were the US Secretary of Defense … this is how I would solve the current friction with China in the South China Sea (where China has built islands and claims a 12 mile limit around these islands) … instead of sending war ships to the islands making China angry … I would tell the head of the US Pacific Command (Adm. Harry Harris) to simply declare that our Navy ships “are like floating islands” and therefore we claim a 12 mile limit around every one of our ships in the Pacific … and if a Navy ship’s 12 mile limit intersects with the 12 mile limit around a Chinese “stationary” island … the two effectively cancel out … then leave it to Kerry and Chinese diplomats to work out the details … but in all likelihood it should instantly defuse the situation!
Paul. Good Idea, but consider Influence of China has grown so much in the last few years. I look for a time all of there surrounding countries to tell the US to get out. China, Taiwan presidents meet for 1st time ever, shake hands.
http://news.yahoo.com/china-taiwan-presidents-meet-1st-time-ever-shake-071806468.html
JC … if that ever happens … and everyone wants us out … the US which does not adhere to “International Norms” … could simply claim a 3000 mile limit around each of its carriers and thus take control of the entire Pacific Ocean … easily do by simply strategically locating a few of its carriers to cover the entire Pacific region!
Paul I got half way threw your comment and started laughing. The east is uniting against the USA. in great numbers. We may own the gun , but they hold it.
China is embracing there long time enemies to unite a empire beyond what the world has ever seen.
Influence is greater then authority in so many ways. China and Russia are proving this to be true.
Paul I must say this would have been a good plan back before the world knew what the usa is about.
Paul. How about this. We tell China we will lift all taxes in the USA and take the jobs back we gave them if they don’t leave the islands.
Greg,
Let me join in with the choir and issue you many thanks for bringing us info not to be found elsewhere!
As for Janet Yellin; she makes as much noise about raising rates as I do about losing weight and neither one is going to happen!!!!
DRS,
Who knows what Yellen will do, but if she raises rates the markets will tank and she must know this. So, if rates are increased, then, they want it to tank. I do not pretend to know what is going to happen, but either way, rate hike or no rate hike, there is going to be a reaction. We just do not know how severe.
Greg
Another great week for doom and gloom believers.
Doom and gloom prognosticators have existed throughout human history. The more outlandish their predictions, the more attention they attract and the more money they and their associates make from gullible fools. In recent years, the doomsday merchants have been particularly active, on the Internet, predicting all sorts of imminent economic calamities from the demise of the dollar to financial Armageddon. People who have bought into PM, mining stocks etc. have lost a lot of value versus other investment since 2011. The PM bugs make wild predictions and double down on their exaggerations and lies to pacify the duped and to attract new business. Stories about shortage of physical bullion, empty gold vaults, paper market and government manipulation etc. abound. Not against buying gold or silver near their turnaround lows, but gold will not be jumping to 100k or even 1.5k an ounce anytime soon. If anything, gold is more likely to trade around the current price in next 12 months.
If you really think an economic collapse is imminent, buy, instead, a small farm with woods and a sustainable supply of clean water – preferably, off-the-grid, with like-minded people. Stock up on food, medicines, seeds, essential machinery and spare parts (tractor, truck, car, generator, battery), renewal energy (solar, wind, water), guns and ammo (for hunting and fending off marauders), and moonshine (for the occasional tipple or trade).
Most of all, don’t allow zealotry, fear and negativism rule your heart and mind.
Have a great weekend.
Go back to sleep Bob R. Everything is going to be fine.
Greg
On the contrary Greg, I’m wide awake.
The outrageous gold claims brings to mind the story of Chicken Little — convinced without any shadow of doubt that “The Sky is Falling” and incessantly stirring the farmyard into hysteria — only for cunning fox to take advantage of them.
By the way, where did I say the economy “fine”?
Yes, Greg, there are big problems, but there are also opportunities and solutions beyond gold.
Right Bob R. Are you sure you are not sleep walking. How do you think we will be taking care of the $20 trillion cash deficit and $200 trillion in unfunded liabilities? Do you know what $1 trillion is? $1,000 billion. What “solution”? Let’s hear it! Here’s one: how about massive devaluation. Here’s another: how about default. How about hyperinflation? Those are all “solutions.” You really don’t think we are going to be trying to pay this off, do you? Wake up Bob. This is not fear mongering it is fact mongering and I know that reality is pretty scary especially when you are retired living in yesteryear. News flash: This is not 1980. Reagan is not President and the U.S. budget deficit is way more the $1 trillion as it was in 1980. You can call that “Hysteria,” “The Sky is Falling,” or just simply “Big problems.” Here’s what it really is: A paradigm change of Biblical proportions that will probably include WWIII. I don’t appreciate it when you imply I am putting people on and “stirring the farmyard into hysteria-— only for cunning fox to take advantage of them.” When you make statements like this it only shows how disconnected you are from reality and facts. As I said before, “Go back to sleep” because you sound like you are not fully awake. You certainly do not have a real grasp of what is unfolding. Don’t write back. We will have to agree to disagree. Nighty night.
Greg
I tend to agree more with this Bob R guy on this; at least in the sense that there is absolutely no point in discussing a problem that will by your own admission just simply have to play itself out.
Greg, you have said before, in the comments here, that there is nothing that can be done to avert total calamity and that a crash is inevitable; so why even look, when what is coming is a forgone conclusion. If any given man, woman or child survives it is not going to be because of anything they did to prepare, it will be because of the will of God or just dumb luck. Even in the bible we are told that one cannot prepare to withstand the wrath of God, but merely pray for the strength to endure it, it is totally out of our hands right now and I think you would agree that what is coming here is going to show itself to be more than fairly classified as a wrath of God scale event.
Its gonna suck and we will all get a good humiliating taste true powerlessness, lets hope that in the darkness the light becomes plain to see.
BOB R…
Sorry Sir but the math disagrees with you.
We are about to get a lesson in economics..
Too much debt can and likely will take us down.
Paying this debt back is not possible.
You know what that leaves.
Prepare for the eventual outcome.
A change in our style of living.
Bob R, I sense a little envy that we pessimists are the happiest people. We are either right and prepared, or wrong and pleasantly surprised.
Good one Diane D Good one!!
Greg
I’m happy to have made some money and paid off debts. No envy, but very grateful that I was able to happily retire to a hobby farm in Tennessee in a community of like-minded Christians who don’t beat the drum of impending financial Armageddon.
Sadly, many people lost twice: first, when they lost nearly half of their retirement funds and second, when they invested their diminished funds in gold at the high because of heightened fear.
They may be pleasantly surprised to learn that the world has not ended, but unhappy to have lost opportunities to have done much better.
Bob R.
The game is not over yet Bob. Far from it. That’s not “fear” but fact.
Greg
BOB R. & Greg and USA Watchdog readers.
I’m going to reveal to you now, why we have not had an economic collapse yet, and why we still will. Please look at these statistics. This is actual data and not fear porn.
https://www.nerdwallet.com/blog/credit-card-data/average-credit-card-debt-household/
Americans are living off of credit card debt, and borrowing against their mortgages in order to live day to day. This situation has created two problems that will eventually cause the system to break down. 1) Because of this trend liquidity inside our banking system is beginning to seize up. 2) Because people are defaulting on their loans, the banks are forced to borrow more money from Fannie Mae and Freddy Mack which again are beginning to be insolvent.
As I have posted numerous times, our fate is in the hands of the Chinese. The dollar is sitting on an economic precipice, and if the Chinese are given SDR rights, or break away from the dollar in any way, it will push it over.
I posted earlier that the IMF delayed their decision until November 30th and caught hell for it. I was merely trying to point out that the IMF is aware of this situation and was stalling for more time. As I have said before, “something” is going to happen before the G20 meeting on the 15th. But I don’t know what it is. Something in the EU derivative market I’m guessing?
Guess what Bob-O? I’d rather be wrong and still be alive, than to be wrong and be dead. Go ahead throw the dice.
Thank you Jerry. This was a nice nugget from the link, among many: “Two things stand out: overall credit card debt is down, and the average indebted household is less underwater relative to the average overall than before. Falling indebtedness is largely due to defaults rather than repayment.”
Greg
Another excellent show Mr. Hunter. Thank you for choosing to give us another perspective on the news.
Paul Craig Roberts’ view:
Roberts also asks whether Soros’ advice regarding Europe absorbing millions of refugees is based on something other than just humanitarian considerations.
“We have to first ask the question whether Soros’ progressive causes are real or merely a cover for rule by the 1 percent,” Roberts said. “You see, when political boundaries are broken down the result is a power vacuum to which Washington and the 1 percent can move in their pawns.”
One consequence of Washington’s wars over the course of three presidencies has been to “destroy stable countries and leave in their place disorganized, small fiefdoms that war on one another,” Roberts said.
“What Soros means is: ‘European values’ means you lost your national identity and you become a hodgepodge of different cultures and different nationalities and your traditional historical existence is dissolved in this pot of diverse peoples.”
https://www.rt.com/op-edge/320747-soros-european-values-orban/
Hi Bob
You should digest this,it might ring some in your head to what is going on in the world
http://www.zerohedge.com/print/516133
As for the part that the price of gold is going to prices that you can not believe,well that means is that those USD are not going to be worth much in the future,as we all know the world is broke and the USA is big time broke,perhaps this bit tells how things are
https://www.youtube.com/watch?v=H_ard0RnuOI
I live in Australia,I have land and can be selfsufficent,I have been watching this unfold for many years and it is happening a lot slower than I thought,but I believe it will brake very quickly when it does.
There is a old saying
“He who laughts the loudest,laughts last”
Greg is allowing the every day person around the world to a alternative view of what is happening,not one that is pushed in a direction that gives us a biased view.
Great reply to “Bob R” Greg…. GO BACK TO SLEEP….
Tell me, is the difference between “unemployed” and “not in the labor force” like the difference between “rape victim” and “unconsensual sex participant”? The propaganda levels I’m seeing in the old, dying, legacy media has really reached North Korean levels…. example here:
http://hosted.ap.org/dynamic/stories/U/US_ECONOMY?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2015-11-06-08-38-08
“robust… burst…. healthy pace…. rebounding strongly…. fantastic…. healthy gains…..”
15 years ago gas was 89 cents/gallon in Florida; I made $14/hr in a warehouse job. Those same jobs (and MANY LIKE IT) still pay the same today… and ground beef/gas have tripled/quadrupled (as have most necessities of life). Real robust.
Joe G.
Yes there is a difference between “unemployed” and “not in the labor force”. I estimate that about half of the 94 million “not in labor force” are not unemployed. They are full-time school students, stay-at-home parents with minor children, retired persons and disabled persons. Some say that these people still should be included in the ranks of the unemployed because they are all of working age. Well just because someone is of working age does not mean that they are physically able to work or that they are available for work. When I collected unemployment I had to certify that I was both able to work and available for work. Most of them are certainly not available for full-time work. These people groups (school students, housewives, retired and disabled people) were never included in the unemployment rate in the past but unfortunately people like David Stockman is one who wrongly includes all the people “not in the labor force” in his 42% unemployed rate.
http://www.inquisitr.com/2218523/david-stockman-says-unemployment-is-really-42-9-percent/
Now the other half of the 94 million who are “not in the labor force” is because there is of a lack of jobs in many parts of the country, especially good paying jobs. Or because they have a hard time getting a job because of a criminal record or poor work history. Or because they are not trying hard to get a job because they want to collect welfare. Millions of them are long-term discouraged workers. These people should be included in the unemployment rate as well as part-time workers who want to work full-time. I believe ShadowStats unemployment rate of 23% is close to being accurate.
Thought for the Day – Saturday 7th November 2015
By doubting we are led to question, by questioning we arrive at the truth.
Peace be with you on this day
Mike Harvey
Resident in Ireland
And peace be with you as well.
F-15’s… 1980’s vintage air tech. https://en.wikipedia.org/wiki/McDonnell_Douglas_F-15E_Strike_Eagle
Probably still the best the US has got as the F-22 & F-35 are a total bust.
http://gerarddirect.com/2013/03/10/uss-f-35-and-f-22-americas-costly-boondoggles-the-victims-of-arrogance-and-appeasement/
“arrogance & appeasement” The US has a totally corrupted government and that will be the downfall of the USA.
8Ball this borders on criminal at the very least gross incompetence. Thank you for posting this.
Greg
You should try to get KD on for an interview. 8Ball
Yes, We Really ARE This Stupid
by Karl Denninger, Market-Ticker:
Plant this one directly on MaoBama’s and Bush’s desk:
The Pentagon was tipped off in 2011 by a longtime Army contractor that Russian computer programmers were helping to write computer software for sensitive U.S. military communications systems, setting in motion a four-year federal investigation that ended this week with a multimillion-dollar fine against two firms involved in the work.
Russian computer programmers who, it is alleged, stuck back doors into the code.
US fighter jets should be designed by “Americans only” … by allowing “foreign countries engineers” to design the critical components of our military aircraft “back doors can be embedded” into our planes electronic systems that make them susceptible to jamming and total disablement by enemy electronic warfare … once international espionage compromises our computer systems (and several terabytes of data related to the F-35A aircraft’s design and its electronics systems have already been stolen) … is it any wonder why F-35A’s have been haunted by “fatal flaws” … recent operational evaluation of the F-35A ”Joint Strike Fighter” by the Department of Defense’s Director of Operational Test and Evaluation shows the aircraft is considered “unacceptable for combat” and even “unfit for training”!
We should not only be remembering the Maine … we should be remembering the USS Donald Cook!
Lockheed Martin has repeatedly made assertions about the F-35’s
performance that have later proven to be false. Cost = 360 million.
http://nationalinterest.org/blog/the-buzz/americas-f-35-vs-russia-or-chinas-best-fighters-who-wins-13802
The theme seems to be that if you tell a lie often enough maybe the Chinese and Russians will believe it.
Calgirl … As the developer of the Aegis Combat System on the USS Donald Cook … Lockheed Martin continues as a trusted developer of America’s weapon systems … what I want to know is … is there “any oversight” as to which subcontractors develop the critical electronic and computer systems used in our weapon systems? … what safeguards do we have that prevents a foreign subcontractor from installing a “back door” into our military equipment that can be sold to an enemy fro billions … to have the capability to disable our military? … if we don’t have any safeguards why are we spending multi-billions of dollars in taxpayer money on fancy new equipment that simply won’t work when we need it the most???
paul,
I know more about my kitchen mixer than I do about Lockheed Martin. However, the Donald Cook being totally disabled and left dead in the water by a Russian jet blocking it’s electronics causes a few questions in my mind. Even I know about shielding my electronics! Whether the shielding problem was caused by a sub-contractor or not, the final responsibility is with LM. To your point, LM is responsible to know down to the micron exactly what they are installing in their defense projects. So when I saw the article about the F-35 I wanted to pass it on as maybe relevant to our defense. Maybe I’m off-base here, but I find it difficult to blindly trust these good ole’ boys who are chummy with the Pentagon. These little oversights cause deaths. I realize an F-35 if unbelievably complex, but that is the business they are in. What’s the old saying? No single raindrop ever feels responsible for the flood.
Not much on comments,my first here,but have listened to you faithfully for years.My budget is a bit tight,but will try my best to get a donation to you before year end.
God bless you and keep you….keep up the good work!
Chairman,
Make sure you buy some food and water to store before you think about USAW. Thank you for your comment and support.
Greg
Chairman of the bored … love the moniker … did you ever consider becoming Chairman of the “board” (like overseeing those who are walking the plank) … anyway here is a piece of news that is flying under the MSM radar … http://www.zerohedge.com/news/2015-11-05/iran-opening-secret-passage-asia-russian-crude
Seems Russia and Iran are making a deal to swap oil … where Russia ships its oil to Europe for Iran while Iran ships its oil to China for Russia … saving a lot of money in shipping costs … what is unique about the deal is that the Iranians can accept Yuan in payment for the Russian oil … while Russia can accept payment in Euro’s for the Iranian oil … where does that leave the petrodollar??
The beauty of the deal is that Iran can say to the US … they not selling “their oil” to China for Yuan … and the Russians can say they are not selling “their oil” to Europe for Euro’s … you’ve got to hand it to these chess masters … they are smart cookies!
This realism is causing me mounting depression day by day…I truly feel fear for the country I love, or used to love I should say. Can we oversome this? Below are excerpts from this important article.
Cold War I vs. Cold War II
How does a skilled chess-player achieve victory? Positioning, positioning, and more positioning. It is only once one’s opponent has been completely out-positioned that any thought is given to overt attack. Chess is a game of patience, and (often) a game of simply waiting for one’s opponent to self-destruct, via strategic error, or mere impatience.
While the U.S., and the West, in general, unremittingly alienates the Rest of the World, Russia and China have been rapidly improving their political and economic cooperation with other nations. While the political/economic institutions created or sponsored by the American Empire lose their legitimacy due to corruption, Russia and China are creating parallel, corruption-free institutions – to replace them.
http://www.zerohedge.com/news/2015-11-05/russia-and-china-victory-defaul
@Calgirl: I read that article as well. It took my breath away. The US is playing checkers while the world is playing chess.
Faith,
And BO has some black checkers up his sleeve which will not be good for America me thinks! The ones that have already fallen out have been devastating.
Greg: not sure it matters but just for the sake of clarification the USAF has several multi-role aircraft in its current inventory. Both the F-15 and the F-16 are capable in air-superiority and ground-attack versions. The F-15C is designed for air-to-air combat while the F-15E (“Strike Eagle”) is a two-person all-weather ground attack aircraft. Similar distinctions can be found in the F-16, though as far as I know it flies only with a single pilot. The F-22 is the finest “air-dominance” aircraft in the world (why we bought so few–122, enough for just a few squadrons–should be the subject of an investigation) and no-one has a clue whether the F-35 in its various incarnations (USAF, Navy, and Marine “short-takeoff/vertical landing”) will be any good in any of them or just destroy the defense budget for nothing! So whatever Mr. Obama has planned in air ops against ISIS (or any other adversary du jour) out of Incirik (Turkey) the USAF certainly has the flexibility. Hope this helps.
Thank you Sam for the US jet fighter lesson!!
Greg
I always thought that we should have bought quantities of the F-20 Tigershark…it was cost effective (~$15M), agile and very capable as a Lt attack fighter. Then congress got involved and wanted it to do too many things and to add lots of extra bells & whistles (to it) that would have degraded its performance as a light-weight fighter/bomber. What’s the old saying? If a committee built a horse, you would get an elephant.
When it comes to telling lies, I do not think anybody can even come remotely
close to Hillary or her so called husband. It comes to them as naturally as it
the leaves do to a tree.
If anything, they are both very intelligent. However, that is God/nature given
and that nobody is stupid by choice.
Jamie Dimon: Virtual Currency Will Be Stopped By The US Gov’t
by Stephen Gandel, Fortune:
http://sgtreport.com/2015/11/jamie-dimon-virtual-currency-will-be-stopped-by-the-us-govt/
Jamie Dimon isn’t on board with bitcoin.
Speaking on Wednesday at the Fortune Global Forum, the CEO of JPMorgan Chase said that the market for the virtual currency isn’t large and it would be stopped by the government before it ever got to that point. Dimon said despite the fact that bitcoin is getting some lip service in Washington, as politicians try to say they support Silicon Valley innovation, he thinks eventually there will be a crackdown.
Update on Jim Sinclair’s call on USA Watchdog on August 26th 2015
Gold has suffered a losing streak for 15 days.
We are seeing a historic level of focused selling pressure. Never before had gold been down this many days over a three-week period.
Gold is still only down $37.90 (-3.36%) since August 26th when Jim claimed there was limited downside, at the time the price of gold was at $1127.30.
The people on Wall Street and government are so in love with their own fairy stories they cannot see the wood for the trees (or can they)
They are unable to understand a situation clearly because they are too involved in the FIAT scam and underestimate the ordinary folks..
A hyperbolic increase in the money supply is by definition is “hyperinflation”. They have already hyper inflated the US Dollar. I ask the question? Where does that leave precious metals?
Regards
Mike Harvey
Resident in Ireland
Michael,
Michael.
We have a situation (that is well documented) where demand is far out stripping production. Also well documented, we have un-paralleled criminal price suppression of physical gold and silver. (ie: nearly 300 to 1 leverage at COMEX for gold) It is a simple math equation the will supply run out, and I suspect that will happen overnight or over a weekend at a point in the not too distant future. Thank you for your comment.
Greg
Thanks for the reply Greg
Greg,
I u/s what they are doing to the metals, and I also u/s why they are doing it, but it makes me A N G R Y. And, if I root for the prices to go where they should be I realize that will mean the complete collapse of America. I avoid looking at the paper price, but usually sneak a peek at least once daily. Problem is all my ducks are already in the pond and I can’t afford to cost average.
Greg, I wouldn’t worry about the Russian jamming. It is publick info that we can do it at least as good. The spy ship deal was a “we got it too” message.
Jerry and SIG, I cannot figure the Chinese ships in our port either.
But I like to remember the Chinese are all business and for all business. They want customers and need them. They want business influence here not fear of them. They wouldn’t want to take over this mess of Libtards running this country and have to own it. We are broke and no threat to them and they know it. They are laughing at us and we are lucky they think our humiliation is funny.
CB,
From my many years of making observations and deducing logical conclusions….having both eyes wide open whilst removing irrational thought processes…then applying that skill set…..I don’t have an answer…only conjecture….other than that, things are not what they seem.
The South China Sea, Chinese Ships in Florida Ports…..there is still no act of aggression there. Both events are mutually exclusive and yet they are related.
The US sends messages through its actions…..but is that the intent or is it being mischievous or even disingenuous.
One could infer that China has indeed more power/influence than is evident. The US action in Sth. China Sea could be a veiled attempt to conceal the true status of an impotent watchdog. Foreign warships in US territorial waters gives credence to wider acceptance of their influence which is confirmed and bestowed in a fashion that reflects a higher authority. The question is were they the recipients of a formal invitation or did they just demand it ? Understanding what transpired a few weeks back when the Chinese delegation were welcomed with open arms in the UK….can we say that perhaps US authorities took their cue (orders) from the Crown ?
I sense a changing of the guard here. Do you have your camera at the ready ?