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Bond Market Sell-Off Causes Stress in $2 Trillion ETF industry

"A wave of selling caused many exchange traded funds to tumble below the value of their underlying assets as a bond market sell-off caused stress in the $2 trillion ETF industry. Emerging-markets ETFs were among the worst affected, as investors took fright that the end of Federal Reserve monetary easing would lead to outflows from developing countries. The selling also caused disruptions in the plumbing behind several ETFs. Citigroup stopped accepting orders to redeem underlying assets from ETF issuers, after one trading desk reached its allocated risk limits. State Street said it would stop accepting cash redemption orders for municipal bond products from dealers." Continue reading →

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Investors Say: “Mises Was Right!”

"Bernanke made a comment about the possibility of changing this policy later in 2013, but only if the economy continues to grow. The financial media headlined this statement. Stock markets immediately tanked. Why? Because investors believe that the world’s economic recovery is dependent on the $1 trillion counterfeiting operation, no matter what the general economic statistical indicators say. They do not trust the FOMC’s judgment in assessing these indicators. They do not trust anything except counterfeit money. In short, they are becoming implicit Austrian School economists. They see that mass monetary inflation has rigged the capital markets." Continue reading →

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Bill Bonner: All Hell Breaks Loose!

"The Dow fell -353 points. Gold lost $87 an ounce. What does this tell us? It shouts a warning: Ben Bernanke is losing control. He desperately wants inflation. He's getting deflation instead. He wants low interest rates; yet rates are rising. Bernanke is now getting the worst kind of deflation – sluggish price increases against a backdrop of rising interest rates. This is the exact opposite of what the Fed wants... and needs. Its strategy is to hold interest rates down while it pushes up consumer and asset prices. Instead, the debt gets heavier as yields rise. Backs ache. Legs buckle. Nerves crack." Continue reading →

Continue ReadingBill Bonner: All Hell Breaks Loose!

Welcome to the Real World

"Bond holders were rudely awakened, but other sources of yields took major hits as well, such as REITs and utilities, which have been down over 10% in the last two months. Higher rates are doing those investors a favor – this is officially fair warning of things to come. I'd rather take a 10% loss on bonds or a utility stock now than take an even bigger loss when the Fed pulls rates higher. If you haven't already gravitated to shorter-term maturity bonds, it's time to seriously consider it. The party isn't quite over yet for long-maturity bonds, but the bartender is making the last call. It's time to get out of the bar before you get kicked out." Continue reading →

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Video: Huge Protests In Brazil Sweep The Country

"Though the protests initially began following the announcement of bus fare increases, they have evolved to include a wide range of groups that have grown dissatisfied over everything from government corruption and income inequality, as well as to outrage over the police's harsh response to protesters last week. In a sign that public dissatisfaction was still simmering, soccer fans booed president Dilma Rousseff on Monday during the opening of a two-week tournament at a stadium in the capital Brasilia. The heckling only intensified when the president of the global soccer body, FIFA, reprimanded the crowed for failing to show the president 'respect.'" Continue reading →

Continue ReadingVideo: Huge Protests In Brazil Sweep The Country

David vs Goliath ~ An After Action Report

“Next time someone says the Tea Party is insignificant, tell them to ask Israel.”   Thursday, a true David and Goliath story unfolded at the Capitol. Limited government activists, managed a stunning upset when the Senate adjourned without voting on the Medicaid Expansion bill (HB 4714) ,despite a frenzy of lobbying by Governor Snyder and …

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Bloomberg anti-gun group apologizes for calling alleged Boston bomber, shot by police, a ‘victim’

"A gun control group founded by New York Mayor Michael Bloomberg apologized Wednesday for mistakenly including one of the alleged Boston marathon bombers in a list of people killed by gun violence since the massacre in Newtown, Connecticut. That list was delivered to Sen. Kelly Ayotte’s (R-NH) office amid a protest organized by Mayors Against Illegal Guns, which targeted the New Hampshire Republican for her vote against gun control regulations proposed by the White House. Tamerlan Tsarnaev was killed in an April shootout with police." Continue reading →

Continue ReadingBloomberg anti-gun group apologizes for calling alleged Boston bomber, shot by police, a ‘victim’
Read more about the article Police Taser Gun Rights Advocate at Anti-Gun Violence Rally

Police Taser Gun Rights Advocate at Anti-Gun Violence Rally

"An anti-gun violence rally at the Statehouse plaza on Tuesday turned ugly when gun rights supporters turned out to protest the event and one pro-gun advocate [was] Tasered by Concord Police after resisting their efforts to detain him. Daniel Musso, 52, of Brentwood attempted to interject commentary while John Cantin of Manchester was speaking about his efforts to influence U.S. Sen. Kelly Ayotte, R-NH, on the background check issue. Police issued an all-units alert to Main Street, with at least eight or nine cruisers at the scene, and a number of state troopers. New York City Mayor Michael Bloomberg is part of the Mayors Against Illegal Guns effort." Continue reading →

Continue ReadingPolice Taser Gun Rights Advocate at Anti-Gun Violence Rally

Depositing a Little Common Sense into the Law

"Did you know that small business owners can be prosecuted for making repeated cash deposits of under $10,000? Randy and Karen Sowers, owners of a successful Maryland creamery, learned that accounting detail the hard way when the federal government seized $62,936 from their company’s bank account and charged them with violating the Bank Secrecy Act. The Sowers did not intend to violate the law. The couple simply found themselves caught in a net of federal prosecution because their everyday business practices and ignorance of obscure banking laws ran afoul of a federal statute." Continue reading →

Continue ReadingDepositing a Little Common Sense into the Law

In-Person Bitcoin Exchanges Are Thriving

"Call it a sign of the times, but something is definitely changing as face-to-face purchases of bitcoin are booming worldwide. In addition to avoiding a sometimes cumbersome registration process with traditional exchangers, in-person bitcoin transactions allow you to meet interesting new people in your area – and discuss bitcoin. Many choices are available with varying degrees of identification required. For the casual traders seeking more privacy, I recommend in-person trading through LocalBitcoins.com, the leading person-to-person matching service for people in various locales to meet and conduct bitcoin business." Continue reading →

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