from Zero Hedge
With the frenzied speculation that drove levels and volumes in Chinese commodities off the charts having dawned on everyone from Cramer to Chinese Securities regulators as ‘not real’, it appears everyone is scrambling to not be the bagholder for this bubble as authorities crackdown on Chinese asset managers pooling retail investor funds, warning of the rise of “ponzi schemes.” While nobody knows for sure how much of the trading surge has been driven by individuals, but the evidence suggests retail punters are playing a big role, and as Bloomberg reports, the average holding period for contracts including rebar and iron ore was less than 3 hours in April!
Amazon’s wilding spree topped yesterday at 719.00, exactly 44 cents below the target I sent out a week ago with the stock trading $35 lower.
I have referred to the June 2003 FOMC meeting many times before and I suspect that I will continue to do so long into the future. It was one of those events that should be marked in history, truly relevant to the future developments that became panic and now sustained economic decay. It’s as if the committee members at that time anticipated their current powerlessness – yet did nothing about it. Their preferred course from that moment until August 2007 was relieved ignorance.
A positive opening for the Nikkei, trading up +1% at the opening bell but sadly could not hold onto the gains and we eventually closed little changed on the day. The Hang Seng was the poor performer closing down almost 1% whilst Shanghai was a touch better. Asia really had little top topics but we have seen futures take Asian markets lower in sympathy with global exchanges. Currently, we see HSI, Nikkei and China 300 all lower between 0.3 and 0.6% weaker.
Geez, I’m so busy this week that I just now remembered to post this vital weekly update from John and Steve.
Most Americans may not like to hear this, but the truth is that modern day America very closely resembles Nazi Germany. If you initially recoiled when you read the headline to this article, that is understandable. After all, most of us were raised to deeply love this country. But I would ask you to consider the evidence that I have compiled before you pass judgment on the matter. Most citizens of this nation know that something has gone deeply wrong, and I would suggest that just like the Nazis, all of the pageantry and beauty in our society masks an evil which has grown to a level that is almost unspeakable. And just like the Germans, we don’t do ourselves any favors by turning a blind eye to what is going on. The following are 10 stunning parallels between the United States and Nazi Germany…
This piece is a must read for anyone who is worried about the endgame.
[…] When gold and silver finally are able, through price action, to have their say about the state of Western fiscal and monetary policy actions, it may break a few ear drums and shatter a more than a few illusions about the wisdom and honesty of the money masters.
[…] Today, our banker friends huffed and they puffed when they saw the latest OI figures for silver/gold.Gold OI: 579,777 and silver: 205,391. The open interest for silver is a noose around their neck. They were mildly successful in removing a small number of gold leaves. They took their temper tantrum initially on the gold/silver shares midday but that too was short lived. Gold and silver had a good day, and by closing time, the gold/silver equity shares also had a stellar day.
Something big is happening with gold. Over the past few years, if you bought and owned gold and gold mining shares, it’s been frustrating with gold prices in the doldrums of 2015, 2014, 2013, 2012. That’s four years of downside correction. But, that was then, and this is now. Let’s discuss what’s happening and nail down some serious opportunity…
“Where are going” Wednesday with 
Italy is running out of economic time. Seven years into an ageing global expansion, the country is still stuck in debt-deflation and still grappling with a banking crisis that it cannot combat within the paralyzing constraints of monetary union.
As Donald Trump prepares for an epic battle with “First Enabler” Hillary Clinton, the media is too focused on party unity and are oblivious to the fact that denunciation of Trump by failed elites like the Bush’s as well as the prevarications of Paul Ryan only fuel his rise, as did the opposition of Mexico’s ex-president, the Chinese Communists, the Pope, David Cameron, the Saudis, and Mitt Romney. The political class is discredited with voters hungry for change.
With the surge in last week’s new unemployment claims, the largest in 65 weeks, and the fourth smallest number of monthly new nonfarm jobs since January 2014, today’s updated of the Labor Market Conditions Index takes on special significance.
Debt of mining companies in China’s leading coal province has ballooned to about the same level as its annual economic output, casting doubt over the ability of the regional authority to backstop their new bonds.
Current polls in Spain show an outcome nearly identical the December election in which no party or coalition of parties could foster a majority.
King of foreign M&A, at peak prices, funded by state-owned banks.
Oil futures soared past $46 a barrel on Wednesday to settle at their highest level in more than six months.