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First the People, Now Business is Voting to Go

by Ben Marlow
Telegraph.co.uk

The great Brexit jobs exodus is under way. It was inevitable that pulling out of the EU would spook some businesses into uprooting. Companies hate uncertainty and tend not to stand it for too long. However, no one expected the migration to begin quite so quickly.

It’s not even a week since the referendum vote and already we’ve had a flurry of warnings from big companies that they are considering shifting their bases to other European countries.

These include FTSE 100 giants Vodafone and easyJet, who have indicated they could move their headquarters overseas, together with American finance titan Visa, which is reportedly reviewing the future of its UK operations.

Continue Reading at Telegraph.co.uk…

If the UK Economy Tanks, Don’t Blame Brexit

by Frank Shostak
Mises.org

Last Thursday, the people of Britain voted in a referendum to leave the European Union (EU). Most commentators view Britain’s exit (“Brexit”) from the European Union as bad news for economic growth in the UK and the eurozone. As a result, it is argued, the growth rate in the rest of the world will be also badly affected.

It is more likely that, whether the pace of real economic growth over time will weaken or strengthen is going to be set by the pace of expansion in the pool of real wealth.

A strengthening in the pace of economic growth implies a strengthening in the rate of growth of the pool of real wealth. Conversely, a weakening in the pace of economic growth implies a weakening in the rate of growth of the pool of real wealth.

Continue Reading at Mises.org…

The Coming End of the “Third Way” System

by Pater Tenebrarum
Acting Man

The Best Thing About the EU is J.C. Juncker’s Alcoholism

We recently discussed the post-Brexit landscape with a friend (in fact, our editor), who bemoaned that “the EU is led by a drunkard”. Our immediate reaction to this was to exclaim: “That’s the best thing about the EU!”

[…] Why do we think so? It makes this overpaid, useless bureaucrat human. Not only that, it clearly raises his entertainment value. As our regular readers know, we have insisted for many years that entertainment value is the by far most important criterion by which a politician’s worth should be judged.

The reason for this is simple: it is nigh impossible to achieve fundamental change by voting. Similar to everybody else, politicians and high-level bureaucrats act first and foremost in their self-interest. A young person deciding to enter politics may well be driven by antiquated notions of “public service”. Such ideas are quickly discarded once a political career actually begins.

Continue Reading at Acting-Man.com…

Silver Surges, Up 16% In Dollars In Month as Breaks Out Above $18

by Mark O’Byrne
GoldCore

Silver is another 0.5% higher today after yesterday’s 3% gains when silver flew through resistance at the $18 level to close at $18.26/oz. Silver has surged by similar amounts in euros and by 22% in beleaguered sterling.

[…] The rally for silver yesterday and today was more impressive than gold’s and saw prices at their highest since mid-September of 2014. Silver has now surged 16% in a month and the next level of resistance is $21.40/oz which silver touched in July 2014.

“Silver looks very bullish now and our clients are allocating to it in a big way,” we told Dow Jones Marketwatch (see below). “Silver is like gold on steroids when it gets going due to the very small size of the physical silver market versus stock, bond and even the gold market.”

Continue Reading at GoldGore.com…

Soros Says Brexit Has ‘Unleashed’ a Financial-Markets Crisis

by Neil Callanan
Bloomberg.com

Britain’s decision to leave the European Union has “unleashed” a crisis in financial markets similar to the global financial crisis of 2007 and 2008, George Soros told the European Parliament in Brussels.

“This has been unfolding in slow motion, but Brexit will accelerate it. It is likely to reinforce the deflationary trends that were already prevalent,” the billionaire investor said on Thursday.

Soros rose to fame as the money manager who broke the Bank of England in 1992, netting a profit of $1 billion with a wager that the U.K. would be forced to devalue the pound and pull it from the European Exchange Rate Mechanism. He has warned that a hard landing in China is “practically unavoidable,” arguing that its debt-fueled economy resembles the U.S. at the onset of the financial crisis.

Continue Reading at Bloomberg.com…

Brexit and The Precipice

by Daniel R. Amerman, CFA
Gold Seek

With the victory of the “Leave” camp in the June 23rd referendum in the United Kingdom, the world finds itself on the edge of a financial precipice.

Crucially – we are not over the edge, not yet. But it is right in front of us.

This is far more serious than anything that we have seen since 2008. And if we go over that edge then something potentially much worse than 2008 is in front of us. Which is exactly why Alan Greenspan is saying this is the worst financial situation of his lifetime, and why George Soros is now predicting that the disintegration of the EU and the euro is “practically irreversible”.

Continue Reading at GoldSeek.com…

Signs Of Stress In Draghi-Land – Target2 Imbalances Close To Record Levels

by Eugen Von Bohm-Bawerk
David Stockman’s Contra Corner

Money, generally accepted medium of exchange, acts as a veil that confuse and blurs economic relations. This is especially true when it comes to intertemporal considerations. Whilst probably the most important institution in a free market, money can be highly destructive when politicized. Why? Because politics is about power and distribution of real wealth. And since money affect almost every single transaction, politics can span throughout society with ease when in control of money. Amchel Rothschild was spot on when he allegedly said “[g]ive me control of a nation’s money supply, and I care not who makes its laws.” Power over money is power over people and power over people is, well, pure power. Money is thus the most sacred tool in a statist’s toolbox and has become instrumental in their quest to control society and allocate resources as they see fit.

Continue Reading at DavidStockmansContraCorner.com…

Making The Case For $12,000 Gold & $360 Silver

by Steve St. Angelo
SRSRocco Report

Global Financial Assets are more inflated and propped up than ever. According to the most recent figures published by The City UK Fund Report, total Global Conventional Assets under management topped $105 trillion in 2014. That’s one hell of a lot of future PAPER CLAIMS.

Unfortunately for most investors, the majority of these supposed assets will evaporate into thin air from where-ith they came. Bubbles were designed for children to make and play with… not meant for adults to use in the financial industry.

Regardless, the global financial system is now polluted with a massive amount of toxic bubbles covering all corners of the planet. When the first large one finally pops… WATCH OUT.

Continue Reading at SRSRoccoReport.com…

Gerald Celente: Globalists Will Collapse the Entire World Economy As “Currency War Has Begun”

by Mac Slavo
SHTF Plan

Major financial storms are coming, and they may cause a great deal of damage.

There is every indication that what has now starting in Europe could end up on the dollar’s doorstep, and upend the whole house of cards.

As economic forecaster Gerald Celente told the Alex Jones Show, the Brexit campaign was something of a launching point for what is going to become a total collapse scenario. Though it isn’t completely clear yet, this could be the reverberations of the big one.

But what Celente sees coming is severe indeed… and quite ominous.

Continue Reading at SHTFPlan.com…

The FED Finds a Good Excuse to Extend and Pretend Through Brexit

by Nathan McDonald
Silver Seek

Brexit has happened. Those who are not happy with this reality are making their voices heard; yet, so too are those who are overjoyed to have their liberty and freedom back in their own hands.

This divide is glaringly obvious and has been the highlight of the news reel since last week’s vote. There has been a flood of articles relating to the matter, and for good reason. This is a historic event and a move that slaps the global elites squarely in the face, something that rarely happens throughout our history.

Regardless, turbulent times are ahead for the global markets, as this move was considered a “black swan” event, one that was not expected by many, even by those who hoped it would happen.

Continue Reading at SilverSeek.com…

Here Comes $20 Silver!

by Greg Guenthner
Daily Reckoning

After a painful downtrend, silver has embarked on an unstoppable rally.

Now that its 5-year bear market is officially over, silver’s ready to make a run at $20 for the first time in nearly two years. That means double-digits gains are in the cards for one of your best performing silver mining trades.

I’ll reveal all the details in just minute. But first, let’s take a quick look at how precious metals have quickly become one of the best trades of the year…

Gold’s hogged the precious metals spotlight since it started ripping higher in February—and deservedly so.

Continue Reading at DailyReckoning.com…

Will There Be Helicopter Money?

by Chuck Butler
Daily Pfennig

Good Day… And a Tub Thumpin’ Thursday to you! And infusion day for me, so up until then I’ll make it a Tub Thumpin’ Thursday, after that, you’ll have to take over for me! While I liked not having my day completely consumed at the infusion center two weeks ago, when they scheduled me very early in the morning, I didn’t like that I had to ask the team to fill in for me with the Pfennig! I would rather write, like this morning, and then go to the infusion center… The Allman Brothers greet me this morning with their song: Ramblin’ Man, which I do believe was their first hit song on the radio… Of course they had been playing long before that happened!

Continue Reading at DailyPfennig.com…

Could This Rumor About China Be True? Plus The Latest On Gold, Silver, Brexit, Soros And More

from King World News

With global markets continuing to experience wild trading in the aftermath of the historic Brexit vote, here is a quick update on the war in the gold and silver markets, the latest end of quarter rumors, plus gold, silver, Brexit and more.

First, a quick update on gold and silver…

Despite the recent surge in the price of silver, which hit fresh 18 month highs, for those wondering about sentiment, we still don’t see Excessive Optimism in the silver market (see chart below):

Continue Reading at KingWorldNews.com…

Make Gold Great Again

by Nick Hodge
Outsider Club

As if the Fed had any credibility left to begin with, this month we got another dose of outright lies meant only to manipulate markets.

For much of the second quarter Yellen and other Fed birds parroted the line that the American economy was strong and an interest-rate rise was imminent.

It isn’t and wasn’t.

But the market bought it.

Continue Reading at OutsiderClub.com…

Brexit Was Just the Start of the Chaos

from Dollar Collapse

Expect the UK to drop out of the headlines as it grapples with the nuts and bolts of choosing new leaders and untangling itself from the EU. The big news going forward will be the trend Brexit started, as other European countries consider their own variations on the “leave” theme — with all that that implies for interest rates, bank stocks and general financial instability. Fascinating and terrifying year ahead.

Click Here to Listen to the Audio

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Mike Gazzola – Striking Gold on Amazon.com

from Financial Survival Network
Mike Gazzola has always been ahead of the curve. After the real estate crash in 2008-09, he headed down to Florida and made a veritable killing, betting most of his capital on Lee County foreclosures. His bet paid off big time, leading to massive profits, even before the real estate turn-around. Never one to rest on his laurels, Mike has been busy searching for new opportunities and he’s struck gold yet again! He’s become a high profit Amazon seller in less than six months. He shares some of his secrets and so far it looks even better than his real estate business. The initial investment is small and the returns have been huge. The amazing part is that virtually anyone can spend just a few hours per week and realize a six figure income in the process. Skeptical? So was I, but Mike as always has irrefutable proof.

Click here and find out more.

Click Here to Listen to the Audio

Sign up (on the right side) for the instant free Financial Survival Toolkit and free weekly newsletter.

Illegal War and Disguised Truth

by Andrew P. Napolitano
LewRockwell.com

The 800-plus-page report of the House Select Committee on Benghazi was released earlier this week. It slams former Secretary of State Hillary Clinton for her willful indifference to her obligation to repel military-style attacks on American interests and personnel at the U.S. Consulate and a nearby CIA annex in Benghazi, Libya. She particularly failed to save the lives of U.S. Ambassador Christopher Stevens and three of his colleagues, all under her care and control while she was secretary of state.

The report also slams Clinton for her repeated lies about the cause of the attacks. After she told her daughter in an email that the Benghazi consulate had been attacked by an organized terrorist group using heavy military hardware, she told her colleagues at the State Department that the attacks were a spontaneous overreaction by locals to an American-made internet video about the Prophet Muhammad.

Continue Reading at LewRockwell.com…

Brexit, the E.U. and the “Special Relationship” of the U.S./U.K.

by Charles Hugh Smith
Of Two Minds

Any clique in the E.U. that thinks the U.S. will sit idly by while they “punish” the U.K. had better recalibrate their core interests and the potential for blowback.

One constant in a fast-shifting global chess board is the special relationship between the United Kingdom and the United States. The term special relationship defines a close collaboration diplomatically, militarily and financially.

Some might go so far as to speak of an Anglo-American Empire in terms of finance.

Needless to say, this special relationship impacts the European Union and the longer term impacts of Brexit.

Continue Reading at OfTwoMinds.com…

Was Brexit Fear a Giant Hoax or is This the Calm Before the Next Storm?

US Secretary of State has warned the EU not to be vindictive or shoot from the hip on Brexit

by Ambrose Evans-Pritchard
Telegraph.co.uk

Let us separate matters. We face a political upheaval of the first order, but this is a necessary catharsis. Governments come and go. So do political parties.

We face a much more serious constitutional crisis. It is why some of us want a national unity government, keenly alert to the interests of Scotland and Northern Ireland.

As Professor Kevin O’Rourke from All Souls College argues here, most Leavers waltzed into Brexit with scarcely a moment’s thought for trauma inflicted on both sides of the Irish border. This carelessness must be rectified immediately.

What we do not yet face is a global financial crisis or a “Lehman moment”. The world’s central banks were ready for Brexit and have acted in unison.

Continue Reading at Telegraph.co.uk…

The Curse Of ‘Wealth Effects’ Central Banking

by David Stockman
David Stockman’s Contra Corner

The robo-machines and perma-bulls are at it again, delivering another volumeless dead-cat bounce in a market that has churned sideways for 600 days now.

That’s right. The S&P 500 first crossed the 2060 threshold around mid-November of 2014, and has made upwards of 40 attempts to rally since then—-all of which have failed to be sustained.

[…] Nevertheless, there is a reason for the churn and there is a culprit behind the abortive rallies.

Continue Reading at DavidStockmansContraCorner.com…

Most Banks Get Fed Clearance to Lift Dividends and Increase Stock Buybacks

Morgan Stanley chided but can go ahead with capital-return plan

by Steve Goldstein
Market Watch

WASHINGTON (MarketWatch) — The Federal Reserve gave the go-ahead to most banks to lift dividends and increase stock buybacks, a sign of the growing recognition the regulator has afforded the capital raised by the financial sector.

The Fed said 31 of the 33 biggest banks had had their capital-return plans approved.

The U.S. arm of Banco Santander SAN, +1.30% and parts of Deutsche Bank DB, -0.56% — both units of European-based institutions — failed on what were called “qualitative” concerns. The Fed found “broad and substantial weaknesses across their capital planning processes, and insufficient progress these firms have made toward correcting those weaknesses and meeting supervisory expectations.” The Fed flunked Deutsche Bank last year and Santander for the two years prior, though the central bank did say both had made progress.

Continue Reading at MarketWatch.com…

Allegations of Vote Fraud Emerge in Spain

by Mike ‘Mish’ Shedlock
Mish Talk

Exit polls in the Spanish election were not only wrong, they were wrong by mind-numbing amounts. United We Can was supposed to pick up seats. Instead it dropped by million votes.

Is this just another case of bad polls, or is something else happening?

Fraud allegations charges revolve around the company Indra awarded a contract to count the vote.

The company claims to speed up the counting process via technologies such as OCR, OMR and ICR , which provide reliability, speed and transparency.

Continue Reading at MishTalk.com…

So Much for Brexit Fears on Wall Street…

by Rick Ackerman
RickAckerman.com

Bears were on the ropes all day Wednesday, chasing a rally that would not have happened were it not for the panicky buying power that they themselves provided. The result was that the S&Ps have quickly recouped two-thirds of what they lost in the Brexit selloff that occurred on Friday and Monday. So much for all the scare-mongering headlines and sweaty-palm analysis on the business pages. If Brexit is such a big deal, you couldn’t tell by Wall Street’s swooning reaction. Will traders now double down and push the stock market to new all-time highs? It’s not yet a done deal, and the wacky price action of late may eventually prove to have been part of a topping pattern that will have vexed bulls and bears alike. But if new highs are indeed on their way, it’ll be interesting to see the extent to which this humbles the Brexit scaremongers and scolds we’ve had to endure over the last several months.

Continue Reading at RickAckerman.com…