Yesterday, I published a post warning about an amendment to be put up for a vote in the U.S. Senate that would severely harm the civil liberties of American citizens. I was very disappointed to see an unusually low amount of reads on that particular post, which came in well below average despite being such an important issue.
Well it turns out John McCain’s amendment 4787 came up for a vote earlier today, and it was stopped by one vote. Yes, by one vote.
With the Brexit vote coming up tomorrow, today we should take a moment to consider what should happen with gold following the outcome.
The first thing you need to know is that this is NOT a done deal. The assumption since last Thursday is that Brexit will fail…and it likely will. The City of London almost always gets what The City of London wants. To think that the hoi polloi will be allowed to advance an agenda that is NOT in The City’s interests is almost unfathomable, sort of like those believing that a new Glass-Steagall will be passed one day in the U.S.. The Financial-Political Complex overpowers everything through bribery, greed and corruption so to think that popular opinion would be allowed to override them?…Well, it’s a longshot.
That said, the polls remain close and be sure to check this from ZH. As you know, ole Turd knows a little about bookmaking so, to me, this makes perfect sense.
Investment bank’s cynical analysis explains how things work.
Daiwa Capital Markets, the investment banking arm of Daiwa Securities Group in Japan, issued a laundry list today of the biblical catastrophes that a Brexit will cause to the pound sterling, global equity markets, global futures markets, credit spreads…. It would “cause serious economic/market damage,” and “hardest hit, of course, would be UK financial assets.” And it would trigger a recession.
So the Leave vote would cause a lot of bloodletting among Daiwa’s constituents and globally. The Leave vote would be to blame. We get that. But it gets more complicated:
So what does all of this mean for the would-be Brexiters? Is there any chance at all that the Brexit campaign will actually be able to succeed in seceding from the EU superstate?
Those were the good old days, the halcyon days, the days of one week ago when we could discuss the Brexit campaign as if it were a straightforward choice between the tyranny of the EU and…well, the tyranny of the UK, but tyranny on a smaller scale. And as we discussed last week, the momentum seemed to be firmly on the Brexit side.
[…] That was before the grisly murder of Jo Cox, the pro-EU MP and “rising star” of the Labour party, at the hands of Thomas Mair, who (as we were dutifully told several hundred times over the weekend by the MSM) reportedly screamed “Britain first!” at the scene of the crime, and who gave the name “Death To Traitors, Freedom to Britain” in court. But for every story pointing out Mair’s history of mental illness and identifying the attack as the work of a clearly deranged mind, there are several thousand attempting to tie this crime to those crazy Brexit-ers and their dangerous nationalist ideology. As UKIP leader Nigel Farage concedes, the events of the last few days have taken the wind out of Brexit’s sails.
But don’t worry! Your vote almost certainly won’t count anyway! As mainstream media from Business Insider all the way to the good ol’ Big Brother Corporation are now reporting, the Brexit referendum is not legally binding and the pro-Remain MPs will almost certainly use their sizable majority in the House of Commons (454 to 147) to block any actual moves to leave the EU common market. (The irony here will likely be lost on all but those who realize that “national sovereignty” is no sovereignty at all.)
Three quarters of a century ago, on June 22, 1941, Nazi Germany launched Operation Barbarossa, an attack on the Soviet Union across a front 3,000 miles long. Barbarossa moved the war into its global stage. It prefigured the final alliance system. It moved the Final Solution to the industrial level of killing. It helped bring the United States into the war, and certainly opened the floodgates of “pre-Lend-Lease” from the United States to Stalin’s Russia. As Ralph Raico has pointed out, the presidential powers inherent in Lend-Lease amounted to one of the great expansions of power in American history. On this aspect, see Raico’s review essay on Justus Doenecke’s Storm on the Horizon, as well as Raico’s rethinking of FDR, in which addresses the character of Hopkins.
Today a legendary trader and investor gave King World News an interview that was quite shocking about what surprise action to expect in gold and global stock markets the aftermath of the Brexit vote. Victor Sperandeo has been in the business 45 years, and has worked with famous individuals such as Leon Cooperman and George Soros. Below are the warnings and predictions issued by Sperandeo.
Victor Sperandeo: “The key is that Breixt isn’t really a legal vote, it’s an advisory vote. If “leave” wins by a small margin and there is a stock market crash, there is a printing press to buy that crash and global stock markets will come right back. The reason for that is because the vote to leave is more advisory. This is what people don’t understand. Meaning, it’s just an advisory vote to leave but it’s not mandatory for Great Britain to leave the EU.
Markets were edgy ahead of the Brexit vote tomorrow.
As our friends at Wall Street on Parade point out, the Fed’s latest ‘stress test results’ will be partially announced tomorrow as well.
The results of the vote are not likely to be known until early Friday morning, as the ballots will be hand counted. So we will be subject to rumours and speculation tomorrow perhaps.
So a socialist government did what has never taking place since 1962, during the Algerian War.
It is very significant because it’s a left leaning government that took such a decision against trade unions. That will ignite a civil war within the “left”. As you know, in France, the “left” is the name of a tactical alliance between Marxists and socialists to fight the conservatives or the far right. The current “left” was created by socialist president François Mitterrand back in 1981 when he merged communists and socialists to win the presidential elections.
There is something odd going on in the forecasting process around Brexit.
Polls are showing the contest between “Leave” and “Remain” about 50/50, a statistical tie. It’s definitely too close to call. Betting venues are showing the odds of Remain winning at about 75% with Leave about 25%.
How can we explain this huge discrepancy?
There’s an old saying that “A little learning is a dangerous thing.” It means it’s OK to be ignorant of something as long as you know your own ignorance and act accordingly. It’s also OK if you’re a true expert and use your expertise.
Seriously… there’s always heightened campaign rhetoric; but usually it is pillow fighting for two parties that are in bed together screwing the country.
But this campaign year is different. Donald Trump absolutely unleashed on Hillary Clinton in a way that may well be historic.
Secrecy, lies, theft, death, graft, bought-out strings from powerful donors and an absolutely criminal candidate. The accusations are well-based in decades of absurd and vicious ambition by Hillary, who clearly will stop at nothing to get power. For that price, she has handed over much to those who should have no control of the country.
I stumbled upon an article by Day of the Jackal author Frederick Forsyth, published last week in the Daily Express, that I think every Briton and European and everyone else should read. Forsyth doesn’t delve into the American pressure to form a European Union as a counterweight to the Soviet Union, he sticks with ‘founding father’ Jean Monnet and his reasoning behind the particular shape the Union took. And that is bad enough.
All Forsyth has to do is to quote from Monnet’s work, and I have to admit that while reading it I increasingly got the feeling that it’s quite remarkable that no-one, especially no journalist, does this. It’s there for everyone to see, but that means little if and when no-one actually sees it.
Another huge 3.57 tonnes of paper gold enter the GLD/Huge amount of gold standing for July/ Huge amount of silver standing in July as well/Brexit vote tomorrow and momentum swings to the leave side/We now know shy the bookies favour the remain side!/Balance sheet of the ECB is now at record highs/Huge amounts of gold are entering England from Switzerland for the 2nd straight month/England is devoid of gold!!
[…] The June gold contract is an active contract. Last night we had a good sized 175 notices filed last night, for 17,500 oz to be served upon today. The total number of notices filed in the first 15 days is enormous at 15,395 for 1,539,500 oz. (47.884 tonnes)
ii) in silver we had 0 notices filed for nil oz.. Total number of notices served in the 15 days: 489 for 2,445,000 oz
Let us have a look at the data for today.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 274.57 tonnes for a loss of 28 tonnes over that period.
The always colorful and insightful Ned Schmidt sees bull markets all over, prosperity is no longer just around the corner. Prices in commodities, gold, agriculture commodities are all in bull formations. The Dollar Index is off 5 percent. What happened to all the raging dollar bulls who were claiming the dollar was heading to the moon. Ned doesn’t believe that Brexit makes much different. But Ned believes that all the short term signals will all turn positive, but that won’t last. Opportunity for gold and silver. What will sustain the bull market in PM’s is the Fed! Ned would prefer the next president be chosen randomly from the first 19 Uber/Lyft Drivers on your smart phone app than the choices we’re faced with. There is no rational central bank in the entire world giving gold and silver a free ride.
Noted ENT Doctor Elaina George explains the upcoming catastrophe that is Obamacare. Premiums are rising by 60 percent. The drive is on to sign up enroll illegal aliens to make up for the shortfall of citizen enrollees. But you can take matters into your own hands by opting out. Go to JoinLHS and sign up today. It’s worked out extremely well for Dr. George and for myself. Dr. George has been able to provide coverage to her valued employees that she would otherwise not be able to provide for. Truly a win all the way around.
If the Obama administration defines itself as the “most transparent ever”, one wonder what will be the term describing Hillary Clinton’s potential presidency. We ask, because as Fox News reports, Brian Pagliano, the man believed to have set up and maintained the private server in the basement of then-Secretary of State Hillary Clinton’s New York home invoked his Fifth Amendment rights against self-incrimination more than 125 times during a deposition as part of a civil court case on Wednesday.
Talk about bad timing. Tomorrow, while the Brexit vote takes place in the U.K. and is guaranteed to whipsaw markets through the Friday morning open when the results of the vote are expected, the Federal Reserve plans to add to market jitters on Thursday by announcing the results of its stress tests on the biggest banks — while withholding the final leg of the results until the following Wednesday.
The stress tests are an annual Fed exercise which are meant to reassure the public and Congress that the mega banks are holding adequate capital for even an extreme economic downturn; in other words, that another epic taxpayer bailout of insolvent banks won’t sneak up on the Fed like it did in 2008.
Whatever the result of Britain’s referendum on the EU we can be sure of one thing: there will not be a global financial crisis the next day.
Nothing dreadful will suddenly happen. The US Federal Reserve, the European Central Bank, the Bank of Japan, and the Olympian fraternity of money printers will stand with the Bank of England, ready to flood the international system with liquidity.
The central banks have had months to prepare, and they have prepared. Currency swap facilities are in place to cover the dollar funding needs of UK-based banks, and many of these are well-insulated branches of American, European, Asian, and Mid-East banks in any case.
Fed’s Yellen: US economy faces ‘considerable uncertainty’ … Federal Reserve Board Chairwoman Janet Yellen testifies before the Senate Banking, Housing and Urban Affairs Committee on June 21, 2016 in Washington on June 21, 2016 … Federal Reserve Chair Janet Yellen warned Tuesday that the US economy faces “considerable uncertainty” from slower domestic activity and from a possible British vote to break with the European Union. – Yahoo
Here’s a question: Why is the Senate listening to Janet Yellen about the economy?
It’s like the blind leading the blind.
The Senate has no idea what’s going on with the economy.
Neither does Yellen.
She was wrong about hiking rates. She was wrong about the direction of the market. And she’s been wrong about the economy as well. It’s going down not up.
An institution that claims the right to initiate force and has the means to do so is an institution to be feared. History confirms the fear: government has been responsible for more deaths and destruction than any other human instrumentality. That the hallmark of government—legally sanctioned violence—produces carnage should come as no surprise. Remarkably, over the last century fear of government has been transmuted to fear of its absence, even as governments have racked up new records for carnage. The shift has been marked by a widespread psychological and moral deterioration that evades the reality of state destructiveness and insists on more of it.
U.S. stocks surrendered early gains Wednesday afternoon as the latest polls showed the outcome of a U.K. vote on whether to leave the European Union remained too close to call on the eve of the referendum.
An online survey by Opinium showed 45% of respondents are in favor of ditching the EU while 44% prefer to stay. Nine percent of voters were undecided.
“Brexit is an iceberg. We can all see how high it is above water—Bremain. But none of us can fathom how deep it goes under the surface—Brexit. And therein lies the problem,” said Douglas Borthwick, managing director of Chapdelaine Foreign Exchange.
Donald Trump has been running around like a total clown over the past month or so. Meeting with war criminal Henry Kissinger, vowing to debate Bernie Sandersin California and then running away like a scared child…his damaging month ultimately culminated in a mindless attack against a federal judge based on his ethnicity. The past four weeks have represented a series of foolish missteps that hurt his campaign greatly.
Fortunately for him, it’s still very early days, and he happens to be running against one of the least liked, most corrupt human beings to ever creep around planet earth. It seems someone finally talked some sense into him, as his speech today was powerful and effective. He finally landed punches all over Hillary Clinton, while at the same time appealing to disenfranchised Bernie Sanders supporters.
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