Why Elites Are Winning The War On Cash (drbost, thc0655)
But the so-called “cashless society” is just a Trojan horse for a system in which all financial wealth is electronic and represented digitally in the records of a small number of megabanks and asset managers.
Once that is achieved, it will be easy for state power to seize and freeze the wealth, or subject it to constant surveillance, taxation and other forms of digital confiscation.
Under President Xi Jinping, Beijing has constructed islands to extend its influence over the South China Sea, initiated the mammoth Belt and Road infrastructure-building project westward through Pakistan and cultivated closer ties with countries — including Bangladesh, Sri Lanka, Nepal and Bhutan — that long have been in India’s orbit.
Just 33 percent of managers in the bank’s latest survey say corporate profits will improve, down from 58 percent at the start of the year.
The drop represents a “warning sign for equities over bonds, high yield over investment grade, and cyclical sectors over defensive ones,” chief investment strategist Michael Hartnett wrote in a note Tuesday. “Further deterioration is likely to cause risk-off trades.”
Rogoff, Orwell and Kafka (thc0655)
Risk? What risk? The risk of people doing what their money what they choose to do, doing what they think is best? Of people trying to save their savings from being burned by central bank policies? What kind of mind comes up with this nonsense? Who is Ken Rogoff to think that he knows better what you should do with the money you worked for than you yourself do? You’d be a fool not to protect you hard-earned earnings from negative interest rates. Rogoff therefore seems intent on creating nations full of fools.
Broadening Internal Dispersion (Aaron M.)
At present, however, we observe not only the most obscene level of valuation in history aside from the single week of the March 24, 2000 market peak; not only the most extreme median valuations across individual S&P 500 component stocks in history; not only the most extreme overvalued, overbought, overbullish syndromes we define; but also interest rates that are off the zero-bound, and a key feature that has historically been the hinge between overvalued markets that continue higher and overvalued markets that collapse: widening divergences in internal market action across a broad range of stocks and security types, signaling growing risk-aversion among investors, at valuation levels that provide no cushion against severe losses.
Since then, mayors of Baltimore and Lexington, Kentucky, said they would push ahead with plans to remove statues, while officials in Dallas; Memphis, Tennessee; and Jacksonville, Florida; announced initiatives aimed at taking down Confederate monuments.
Some opponents took matters into their own hands. Demonstrators stormed the site of a Confederate monument outside a courthouse in Durham, North Carolina, on Monday and toppled the bronze statue from its base.
Jeffrey Gundlach, co-founder and chief executive officer, said in an interview published Aug. 8 he’s reducing holdings in junk bonds and emerging-market debt and investing more in higher-quality credits with less sensitivity to rising interest rates.
Debt, Dollars, DOW, War, Silver and Shirts (GE Christenson)
The DOW is higher because each dollar buys less. Central bank “printing” of many extra dollars supports the DOW. Wall Street hype helps also. Regardless of the hype, a good crash occurs every decade or so, and after the crash the stock market rises again. Most people buy high, watch it crash, and sell low. How many people will take profits near the top in this market? BUY SILVER!
The Single Biggest Bullish Catalyst For Oil (Michael K.)
There are several reasons why backwardation is bullish, which has been discussed in previous articles. A declining futures curve makes it uneconomical to store oil, so backwardation could accelerate the drawdown in inventories. It also complicates the hedging strategies of shale producers, which could hold back expansion plans. It also is a symptom of tightening near-term supplies, although, to be sure, the flip side of that argument is that it could merely be a reflection of expectations that the supply glut will reemerge at some point in the future.
How Arsenic Is Poisoning a Nation (jdargis)
One villager who did get a new well is Piar Ali Shaheb, a building contractor who is also the local representative of the ruling party. When asked if his political connections helped, he smiles: “Yes, definitely.” As he is talking, a neighbor glistening with sweat just in from the fields approaches and begins shouting at him. He says he paid money to a local politician in order to get a safe well, but it had never been delivered. Many of the other villagers have the same story, and are also frustrated.
Gold & Silver
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