by Mike ‘Mish’ Shedlock
Mish Talk
Government officials in the Transcarpathian region of Western Ukraine sent an ultimatum today to Ukrainian President Petro Poroshenko, Prime Minister Arseniy Yatsenyuk, and Speaker of the Verkhovna Rada Vladimir Groisman.
Transcarpathia (Zakarpattia) demands autonomy from Kiev citing “irresponsible policies” of the Ukrainian leadership in the last 25 years leading to the “utter devastation and plunder of Transcarpathia“.
Information translated from the LENTA.RU article Transcarpathian Region Demands Autonomy from Kiev.
Unedited Translation
For Robin Dionne, director of outreach for the Arcade in Providence, R.I., expectations for the micro-apartment complex located in a repurposed shopping passage were initially as modest as the 225-square-foot dwellings she began hawking in 2014. “We had doubts that anybody would show,” she said.
To say that it was a long time coming is an understatement, as is the fact that it’s still anyone’s guess what will really happen.
“Doesn’t matter what the press says. Doesn’t matter what the politicians or the mobs say.
It’s getting harder to pull your money out of the bank.
With the U.S. dollar near the lowest level in 6 months, today John Hathaway told King World News a panic into physical gold will cause the price of gold to skyrocket.
US and Canadian oil production rose at a parabolic rate for 4 years ending in June 2015. While Canadian supplies may have plateaued and remain near record levels, US output began a longer term decline that we are certain will continue throughout 2016 and beyond.
Mike discusses another foreclosure that turned into gold. He bought a 4 unit building for $78,100 in Fort Myers Florida. $45,000 was invested in improvements (subject to adjustments at the closing) and it was just sold for $235,000, a whopping profit of $111,000. Mike was planning to hold on to this one, but the opportunity to cash-in was just too great. He listed it for sale at $250,000. He was in no hurry to sell but almost instantly got an offer at full price. After inspection and adjustments for repairs, he settled for $235,000. Not a bad day’s work. And you can be doing the same or better once you take Mike’s course.
If anyone needs one more reason to break up the mega banks on Wall Street, simply look at what happened following the Federal Reserve’s quarter of a percentage point rate hike on December 16 of last year. On that date, the Fed moved off its seven year zero interest rate policy (ZIRP), which had been a bonanza for the banks and a starvation plan for seniors living on fixed income investments like Treasury notes and CDs, and raised its benchmark rate by a quarter of a percentage point to between 0.25 percent and 0.50 percent from its former 0.0 to 0.25 percent.
It is commonly assumed that the gold price and interest rates move in opposite directions. In other words, a tendency towards higher interest rates is accompanied by a lower gold price.
Gov. Alejandro García Padilla of Puerto Rico on Wednesday signed a bill that would allow him to declare a state of emergency and give him authority to halt payments on the island’s crushing $72 billion debt.
All 4 living Fed Chairs will be speaking tonight in New York, ostensibly “for the kids” but really to have an excuse to spin the Hell out of yesterday’s Fed Minutes, which had a nice, fake rally into the close but it’s already reversed in the Futures as we’re down about 0.5%. For reference, here’s each Chairperson organized by the value of the Dollar under their tenure – note the significant shrinkage which leads us to predict Peter Dinklage will die this season in Game of Thrones so he can be tapped to be the next Fed Chairman – you heard it here first!
What if the latest craze among the big-government crowd in both major political parties is to use the power of government to force employers to pay some of their employees more than their services are worth to the employers?
After more than a decade struggling to cut through red tape to mine gold in India, Sandeep Lakhwara could be forgiven for thinking things couldn’t get much worse. Then they did.
Last year, the Federal Reserve finally showed some restraint. It raised an interest rate and tied off “quantitative easing,” the big buying of Wall Street’s housing-market paper which former Fed chair Ben Bernanke had been so fond of. The initial results came in a little harrowing. Stocks dived and the hiring of full-time workers across the economy fell well below norms.
