by JL Yastine
The Sovereign Investor

I never had the privilege to interview the famous investor Sir John Templeton. But one of my own financial mentors did.

Some of you may remember the name of Paul Kangas. For three decades, he was basically the “Walter Cronkite” of financial television … long before CNBC, Fox Business and Bloomberg joined the game.

I remember Paul flying out with a camera crew to interview Templeton at his home in The Bahamas, right at the height of the runaway housing boom. Asked his opinion of the U.S. stock market, Templeton said it was on “dangerous ground.”

How right he was.

Continue Reading at TheSovereignInvestor.com…

from The Daily Coin.org

by Louis Rouanet
Mises.org

1) Michel Chevalier on the cumulative nature of innovation

Michel Chevalier (1806-1879) was one of the most brilliant of the French Classical School of Political Economy, rightly called by Dr. Joseph Salerno the “Bastiat’s school”. As a minister during the second empire, he led the negociations that resulted in the Cobden–Chevalier Free-Trade Treaty of 1860. Michel Chevalier is, however, less well-known for his contribution to the intellectual-property debate.1 In contrast to Jean-Baptiste Say, Gustave de Molinari, Charles Coquelin, and most other French economists. Michel Chevalier fiercely opposed the patent system on economic grounds. Furthermore, having been an engineer, Michel Chevalier had a broad knowledge of new technologies. Thus, he cited numerous empirical examples of inventions and technical problems with patents. For those who want to understand Chevalier’s ideas in greater detail, you can check my article on “Michel Chevalier’s Forgotten Case Against the Patent System”. If you read French, Michel Chevalier’s book was republished by the Institut Coppet and available for free on their website.

Continue Reading at Mises.org…

by Jeffrey D. Saut
Financial Sense

The year was 1964 when Reprise Records released the song “Baby Don’t Go.” Written by Sonny Bono, and recorded by Sonny & Cher (Cherilyn “Cher” Sarkisian), the song became a smash hit and set the duo’s career in motion. The repeating lyric in said song is “Baby don’t go, pretty baby please don’t go.” And that’s the song playing in the various streets of the European Union (EU) as the Brits contemplate leaving the coalition on June 23 (Brexit). The latest odds I saw were those of last Friday where Predata showed 46.04% of respondents wanted to stay “in,” while 59.96 wanted “out.” The media is spinning Brexit such that an exit might cause a domino effect with other EU members following the Brits, potentially setting the stage for a complete dissolution of the EU. I think the odds of that happening are remote, but the politics of a U.K. exit could be impactful. And as long as we are skirting the realm of politics, I found this story, written by my friend Arthur Cashin, to be intriguing and pretty funny. As Arthur writes:

Continue Reading at FinancialSense.com…

from Talk Digital Network

by Michael Snyder
End of the American Dream

Over the past few days the mainstream media has been fixated on the largest mass shooting in U.S. history, but meanwhile there has been highly unusual seismic activity along major fault lines in California and near the Yellowstone supervolcano. Let’s talk about Yellowstone first. In recent months, the big geysers have been behaving very strangely and this is something that my wife and I covered on our television show. And now, just over the past week there have been three very significant earthquakes in the region. On June 9th, there was a magnitude 3.7 earthquake, on June 13th there was a magnitude 4.3 earthquake and earlier today there was a magnitude 4.0 earthquake. Yes, the area around Yellowstone is hit by earthquakes all the time, but most of them are extremely small. For earthquakes of this size to be striking right around Yellowstone is highly unusual and more than just a little bit alarming.

Continue Reading at EndOfTheAmericanDream.com…

from Casey Research

Editor’s note: Today, in place of our normal market commentary, we’re sharing timeless financial wisdom from our friend and wealth expert Mark Ford. It’s one of the most insightful ideas on retirement we’ve read. Below, you’ll learn the biggest mistake people make when they retire, and what to do instead…

———————-

I consider myself to be an expert of sorts on retirement. Not because I’ve studied the subject, but because I’ve retired three times.

Yes, I’m a three-time failure at retiring. But I’ve learned from my mistakes. Today, I’d like to tell you about the worst mistake retirees make.

It’s a common mistake… Yet, I’ve never heard it mentioned by retirement experts. Nor have I read a word about it in retirement books…

Continue Reading at CaseyResearch.com…

by Martin Armstrong
Armstrong Economics

It was all about the Nikkei and the JPY again today trading to 105.50 as stocks lost another 1%. We are on daily bearish reversals here so we may well see a short-term bounce from here. As you would expect it was exporters that suffered with Nissan and Honda a couple of names being talked lower. The BOJ starts its two-day meeting Wednesday and the market really is looking for guidance. Oil is not helping stocks anywhere as it continues to drift having hit $51+. China was one of the few bright spots today closing higher up 0.3%. HOWEVER, news just released announces that China will NOT be included in the MSCI EM Index – Currently see China300 futures trading around 1.6% lower.

Continue Reading at ArmstrongEconomics.com…

from WallStForMainSt

by Turd Ferguson
TF Metals Report

In a continuation of the earlier discussion, part two of this interview focuses upon the role China is playing in the global gold market, the new yuan-denominated Fix and the sham of New York/London paper derivative pricing.

As usual, the panel discussion can be found in the second half of this program. All thanks again to Max and Stacy for inviting Andy and I onto the program and allowing these topics to be discussed.

Continue Reading at TFMetalsReport.com…

from Jesse’s Café Américain

[…] Gold showed some strength today despite the long run up from the bottom it experienced for the expiration of the June options on the Comex.

FOMC tomorrow.

It is not so much the unethical and almost stupidly selfish actions that are so corrosive to trust, but the increasingly brazen, criminal coverups that are stretching the social fabric to the breaking point.

And they ‘never see it coming.’ Because they are willfully blind.

Let’s see what happens.

Continue Reading at JessesCrossroadsCafe.Blogspot.ca…

from RT America

by Michael Krieger
Liberty Blitzkrieg

[…] Cornel West is an articulate and astute cultural and political observer who’s never afraid to go against the grain and challenge the entrenched and monumentally corrupt status quo. As such, I always try to make a point of hearing what he has to say. His latest interview is no exception.

The following chat with George Souvlis was published yesterday at Open Democracy, and is replete with some unforgettable quotes.

Enjoy.

Continue Reading at LibertyBlitzkrieg.com…

from King World News

With the war in the gold and silver markets continuing to rage, today a 50-year veteran told King World News that the future is frightening but fortunes will be made.

John Embry: “Eric, as far as I can see the markets in North America remain in lockdown. With interest rates on the U.S. 10-Year declining noticeably recently, I find it bizarre that the overpriced stock market continues to essentially levitate…

[…] John Embry continues: “What has been defined as ‘smart money’ in one survey has been a constant seller for a good portion of the year and the public in general has largely given up the ghost in the market. Thus, the Fed and its allies must be working overtime to keep things afloat.

Continue Reading at KingWorldNews.com…

ANOTHER HUGE 2.38 TONNES OF GOLD (PAPER GOLD) ADDED INTO THE GLD INVENTORY/EXTREMELY HIGH GOLD OI CAUSES OUR BANKSTERS TO RAID GOLD AND SILVER TODAY AND THAT FAILED/GERMANY JOINS SWITZERLAND, SWEDEN, DENMARK AND JAPAN WITH 10 YR BONDS IN NEGATIVE TERRITORY/BOURSES AROUND THE WORLD PLUMMET/THE HUGE UK NEWSPAPER ENDORSES A BREXIT/DEUTSCHE BANK AND CREDIT SUISSE PLUMMET BADLY TODAY/JPMORGAN’S QUANT SPECIALIST STATES THAT THIS FRIDAY WE WILL SEE TURMOIL IN MARKETS

by Harvey Organ
Harvey Organ’s Blog

[…] i) the June gold contract is an active contract. Last night we had a good sized 348 notices filed for 34,800 oz to be served upon today. The total number of notices filed in the first 10 days is enormous at 14,700 for 1,470,000 oz. (45.723 tonnes)

ii) in silver we had 0 notices filed. total number of notices served in the 10 days: 202 for 1,010,000 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 273.84 tonnes for a loss of 29 tonnes over that period

Continue Reading at HarveyOrganBlog.com…

from Financial Survival Network

Roger Stone brings us up close and personal to the levers of power. He’s been intimately involved with all the major political players for nearly half a century. He’s written four books about it. His latest two, The Clinton War on Women & Jeb! and the Bush Crime Family, detail a clear pattern of what Roger calls Elite Deviance. You know it well, the belief by the rich and powerful that the laws don’t apply to them. We talk about the Kennedy Assassination, the attempted Reagan Assassination, the Orlando Massacre, the upcoming Clinton Secret Service Expose, Hillary’s Legal Troubles, Bill’s Bimbo Troubles and much, much more. Roger doesn’t just have an opinion on everything, he has personal knowledge about it. He’s been there and he’s done that. We also talk about LBJ’s legendary corruption, vulgarity and perversion. About why he needed to become president quickly. About the Bush connection to drug dealing, 9-11, Lehman Brothers and so much more. This is much listen to radio!

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

from Financial Survival Network

Danielle Park wrote a fascinating article today on her blog. As only she can, she ties together financialization, new car incentives, central banking and Brexit’s ability to help us reclaim our lives and financial futures. The trend of increased financial concentration, central bank dominance and government control has been a long time in the making. In fact, you can go back to the birth of General Electric and JP Morgan and follow its evolution from there. It’s amazing to see it all start to unravel and reverse itself.

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

from Financial Survival Network

Aaron Clarey is on a mission to save the imperiled Millennial Generation. Most of this group grew up without the benefit of the nuclear family. For this reason, they lack role models and common sense. Aaron started www.AssHoleConsulting.com and is doing a booming business helping these misguided youths. Much of his advice focuses on what not to do, like not buying a restaurant that they have no idea how to run or not taking on student loan debt for a worthless major. You’d be amazed at the dilemmas he helps them solve.

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

by Danielle Park
Juggling Dynamite

In 1982, North America was grinding its way through a second ‘double-dip’ recession in two years. Financial markets were in year 16 of a secular bear market that had been pummeling prices and grinding stock valuations from historic highs (PE’s above 20) in 1966 to historic lows (PE’s under 10) by 1982.

In the process of recurring economic strife, tax rates and regulation had increased near historic highs, household savings rates had doubled back above 12% and household debt levels had been worked down near historic lows. As these economic foundations fell back into place, few people could see that a secular expansion cycle for corporate and government revenues was about to begin. From 1982 to 2000 the financial growth that followed was the strongest and longest ever recorded.

Continue Reading at JugglingDynamite.com…

by John W. Whitehead
The Rutherford Institute

“Americans have been told that their government is keeping them safe by preventing and prosecuting terrorism inside the US… But take a closer look and you realize that many of these people would never have committed a crime if not for law enforcement encouraging, pressuring, and sometimes paying them to commit terrorist acts.” – Human Rights Watch

We can rail against ISIS, hate crimes, terror threats, Islamic radicalization, gun control and national security. We can blame Muslims, lax gun laws, a homophobic culture and a toxic politic environmental. We can even use the Orlando shooting as fodder for this year’s presidential campaigns.

But until we start addressing the U.S. government’s part in creating, cultivating and abetting domestic and global terrorism—and hold agencies such as the FBI and Defense Department accountable for importing and exporting violence, breeding extremism and generating blowback, which then gets turned loose on an unsuspecting American populace—we’ll be no closer to putting an end to the violence that claimed 50 lives at an Orlando nightclub on June 12, 2016, than we were 15 years ago when nearly 3,000 individuals were killed on Sept. 11, 2001.

Here’s what I know:

Continue Reading at Rutherford.org…

from Kitco NEWS

by Pam Martens and Russ Martens
Wall Street on Parade

The UK’s largest newspaper, The Sun, with a daily print run of 1.7 million, has delivered a harsh indictment on its front cover today on continuing to allow European central planners and global bankers to run the UK by edict. UK citizens will vote on June 23 on whether to leave the European Union, a vote called Brexit, short for British Exit. The UK’s Guardian newspaper is reporting that two ICM polls, one conducted online and one by telephone, showed 53 percent support for leaving versus 47 percent for remaining in the EU.

The message should serve as a sharp warning to Americans, who have allowed their central bank, the Federal Reserve, to march to the beat of the Wall Street bankers’ edicts while achieving catastrophic results for the country and its citizens. Since the Wall Street crash of 2008, enabled by the formation of trillions of dollars in dicey derivatives and a mountain of subprime debt while the Federal Reserve kept its blinders securely in place, the U.S. national debt has doubled to $19 trillion while the Fed’s balance sheet has ballooned from $800 billion to $4.5 trillion through endless rounds of sopping up the toxic waste (called “Quantitative Easing” or QE to pretty it up).

Continue Reading at WallStreetOnParade.com…

by Dan Norcini
Trader Dan

Safe haven flows are “IN” and risk is “OUT” at the moment ahead of the upcoming Brexit vote, particularly as the polls are showing a shift in favor of exiting.

[…] The British Pound has been noticeably weaker against the US Dollar as the polls swing in favor of Brexit.

[…] That I can understand. What I am having trouble grasping is why it is weaker against the Euro.

[…] After all, it Britain exits, the fear is that it will set a precedent among other EU member nations that might lead to further disintegration of the monetary union. I would think that would pressure the Euro more so than the Pound. I can tell you that Gilt traders are extremely confused at the moment as hardly anyone is sure what direction British bonds will go after the vote. Perhaps it is simply money flows out of things Britain that is weakening the Pound, even against the Euro, more so than anything fundamental shaping that particular currency cross.

Continue Reading at TraderDan.com…

The German Bundesbank is running out of bonds to buy as debt becomes too scarce

by Ambrose Evans-Pritchard
Telegraph.co.uk

German 10-year bond yields have fallen below zero for the time in history as Brexit fears send investors scurrying into safe-havens, and Europe slides deeper into the psychological trap of deflation.

The eurozone is rapidly running out of AAA and AA-rated sovereign bonds for sale as the European Central Bank mops up the debt market under its quantitative easing programme, leaving pension funds and insurers desperately short of assets needed to match liabilities.

Yields tumbled across the eurozone’s core states and the Nordic bloc, briefly touching minus 0.006pc in Germany. Two thirds of the entire stock of German government debt is now trading at negative rates.

Continue Reading at Telegraph.co.uk…

from CrushTheStreet

by Simon Black
Sovereign Man

Apparently the biggest banks in the US didn’t learn their lesson the first time around…

Because a few days ago, Wells Fargo, Bank of America, and many of the usual suspects made a stunning announcement that they would start making crappy subprime loans once again!

I’m sure you remember how this all blew up back in 2008.

Banks spent years making the most insane loans imaginable, giving no-money-down mortgages to people with bad credit, and intentionally doing almost zero due diligence on their borrowers.

Continue Reading at SovereignMan.com…

Appetite for quality assets is pushing bond yields to record lows

by Sue Chang
Market Watch

The last time fund managers hoarded this much cash, the Arizona Diamondbacks defeated the New York Yankees 4 to 3 to win the World Series.

Today the Diamondbacks and the Yankees are struggling in their respective divisions, and by the amount of cash investors are stocking away, one might think that they fear the global markets are melting down too.

Cash positions rose to 5.7% in June from 5.5% in May, the highest level since November 2001, as fund managers have become increasingly bearish, according to a Bank of America Merrill Lynch survey published Tuesday.

Worries about “‘summer of shocks” stemming from Brexit—the potential U.K. exit from the European Union—and low expectations for a new “radical” stimulus from central banks to revive the global economy are prompting managers to stock pile cash despite record high corporate and U.S. stock prices, according to Michael Hartnett, chief investment strategist at Bank of America Merrill Lynch.

Continue Reading at MarketWatch.com…

by Michael Krieger
Liberty Blitzkrieg

[…] As Saudi Arabia has proven over and over, it pays to be a U.S. ally in the Middle East. It’s a designation which grants tyrants carte blanche to do whatever they want. Discriminate against minorities, punish dissidents with crucifixion, systematically violate every conceivable human right, etc, etc. As an example, recall what happened just last week:

Saudi Arabia Forces the United Nations to Remove it from a List of Child Killers

So while Saudi Arabia gets most of the attention due to its relative size, regional influence and particular affinity for barbarism, the Kingdom of Bahrain is not far behind.

The last couple of days makes this perfectly clear. As the AP reports:

Continue Reading at LibertyBlitzkrieg.com…

by Greg Guenthner
Daily Reckoning

Microsoft just fired off a $26 billion rocket that has all but destroyed the ailing social media space…

The software giant plunked down $26.2 billion to acquire LinkedIn, the annoyingly pushy “professional network” where work acquaintances beg you to add them to your list of business buddies.

The biggest social media purchase in recent memory set off a shockwave of excitement across the markets. Sympathy moves from other troubled social media stocks like Twitter and Yelp sprung up. The bag holders are already licking their chops over more buyouts that might never materialize. If LinkedIn can get bought out for a premium of nearly 50%, then they also have a chance, right?

Let’s take a moment to cut through the hype…

Continue Reading at DailyReckoning.com…

from Bill Still