Alt/Indie News

Is It a Crash Yet?

"Nothing about these markets is normal – especially in the face of continued economic weakness. These markets are being shoved higher for a reason. In fact, the idea behind these nonsensical valuations is to convince investors to buy-buy-buy. Only when enough of them have entered again will markets ready themselves for a crash. We've stuck to our predictions of higher equity marts not because there are any underlying factors that justify these valuations – there are not. But our conviction remains that powerful players want a higher market – a sky-high market – because a crash from that elevation may be painful enough to produce a consensus for yet more market globalization." Continue reading →

Continue ReadingIs It a Crash Yet?

Here’s One Fight Uncle Sam Can’t Win

"Economic citizenship programs are proliferating. That’s something to celebrate. These programs are a bracing antidote to the increasing tendency of governments to impose travel restrictions against their citizens, using passports as weapons. This has long been the policy of authoritarian governments like North Korea and China. But in recent years, the US and UK have made much greater use of passport revocations and even involuntary loss of citizenship against persons they perceive as 'enemies of the state.' Is it really surprising that a market has arisen to deal with these draconian restrictions on one of humanity’s most basic rights, the right to leave one’s own country?" Continue reading →

Continue ReadingHere’s One Fight Uncle Sam Can’t Win

Former ECB Chief Economist: Buy Gold; Economic System is ‘Pure Fiction’

"Jürgen Stark, former vice president of the Bundesbank, and also former chief economist of the ECB, resigned in late 2011 for his outright rejection to the purchase of government bonds by the ECB. The monetary system was saved in 2011 through concerted action by major central banks worldwide. But, according to Stark, the whole system is 'pure fiction'. The problem is the monetary model itself. That is, the printing of paper currency without real backing and the multiplier by which the commercial banks can expand credit-uncontrolled without prior savings. Stark recommended allocating part of this fictional savings to investment in traditional 'safe havens' such as gold or silver." Continue reading →

Continue ReadingFormer ECB Chief Economist: Buy Gold; Economic System is ‘Pure Fiction’

Economy Tanks … and Stocks Soar?

"Negative 1 percent. That’s how much the U.S. economy managed to 'grow' in the first quarter, according to the government’s revised estimate. After more than $800 billion in stimulus spending from Washington. After more than $3 trillion of QE from the Federal Reserve. After six-plus years of record-low interest rates … record levels of monetary intervention in the U.K., Japan and Europe … and the biggest bailouts in the history of the world. It’s much worse than the 0.1 percent gain the Commerce Department originally reported. It was twice as bad as the 0.5 percent decline economists were expecting. And it’s the worst reading since the first quarter of 2011." Continue reading →

Continue ReadingEconomy Tanks … and Stocks Soar?

Capital Controls Rolling Into High Gear Under FATCA

"It isn't just affecting the most financially restricted people on Earth: US citizens... it is affecting everyone. Take myself, for example. I operate numerous businesses worldwide. I am a Canadian citizen as well as the citizen of a Caribbean country and our business operations are also operated out of a non-tax jurisdiction in the Caribbean. On top of that we hold no bank accounts, whatsoever, in the US... instead, we have bank accounts all over the world. Yet, in the last two months we have had our accounts or transactions frozen, denied or questioned in different jurisdictions at least ten times. And we have had countless other problems over the last two years." Continue reading →

Continue ReadingCapital Controls Rolling Into High Gear Under FATCA

Bill Bonner: This Hugely Popular Investment Is About to Blow Up

"In a normal world, savers have the choice of staying in cash or quasi-cash and receiving a fair rate of interest. No more. The interest they receive on a 10-year Treasury note is barely over 2.5%. But the real rate of consumer price inflation – according to the most exhaustive survey, done by the MIT, the Billion Prices Project – is 3.91%. What kind of world is it where an honest householder loses nearly 1.5% a year on his savings? It is an odd, rigged-up and dangerously windy one. Investors are stretching out their sails to get higher yields. As a result, bond prices have gone up, reducing yields on bonds rated CCC – below investment grade – to the lowest levels ever recorded." Continue reading →

Continue ReadingBill Bonner: This Hugely Popular Investment Is About to Blow Up

U.S. Gov. Gets $2.6 Billion In Credit Suisse ‘Money Laundering’ Case

"Credit Suisse is the largest financial company to plead guilty to the non-crime of 'money laundering' in 20 years. The plea marks the end of an era. One of the shell entities implicated, according to the government, dated back a century – or just after the creation of the federal tax code and the income tax. Of the $2.6 billion fine, The Department of Justice will receive $1.8 billion and New York State's top financial regulator, Benjamin Lawsky, will receive $715 million of the stolen loot. With the FATCA coming into full effect on January 1, 2016, and the US government actively prosecuting banks, only savvy Americans will be able to find financial institutions abroad to service them." Continue reading →

Continue ReadingU.S. Gov. Gets $2.6 Billion In Credit Suisse ‘Money Laundering’ Case

10 of the Best ETF Trades of All Time

"Timing the market has fascinated, frustrated, and confused the heck out of countless investors. Whether you’re a self-directed trader or a professional money manager, it’s very likely you’ve found yourself looking through charts, thinking: if only I could’ve had a piece of that trend! While it’s true that past performance is no guarantee of future returns, there is still a great deal of insights to be extracted from analyzing past booms and busts on Wall Street [see A Brief History of ETF Bubbles]. Below we take a stroll down memory lane with perfect hindsight and look at some of the best ETF trades of all time, highlighting their performance as well as any noteworthy lessons from each case." Continue reading →

Continue Reading10 of the Best ETF Trades of All Time

India easing gold import restrictions: Curb your enthusiasm

"Last week gold was boosted by news that the Reserve Bank of India is relaxing the much-maligned 80-20 import-export measure. Hopes that the measure could be fully phased out by October, ahead of the Diwali festival in October and the crucial gold-buying wedding season, has already seen the rupee price of gold drop to nine-month lows. Last month Rajesh Khosla, managing director of the country’s biggest refiner which is expanding capacity to 200 tonnes of gold per year, predicted the relaxation of the 80-20 rule, but added that 'while the form of restrictions may change, the government will continue to restrain buying.'" Continue reading →

Continue ReadingIndia easing gold import restrictions: Curb your enthusiasm

Peak Real Median Income In USA = 1999; Washington DC = 2012

"Real Median household income peaked way back in 1999 at $56,000 and by 2012 it was down 9%—an unprecedented decline. It goes without saying that Washington’s Keynesian ministrations on the money printing and national debt front didn’t much help. In fact, the Fed’s balance sheet has expanded from $450 billion to $4.4 trillion during that period or by nearly 10X. Likewise, the national debt has nearly quadrupled to $17 trillion during the same period. Well, all this monetary and fiscal profligacy did apparently help in one precinct: Namely, the Washington beltway where median household income reached its all-time high in 2012 and undoubtedly continues to rise." Continue reading →

Continue ReadingPeak Real Median Income In USA = 1999; Washington DC = 2012