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Never considered this distinction of negative real yield in an inflation environment. Looking at historic inflation vs gold over the years, this has been a long time question of mine, thank you PL!
Fed Vice Chair Richard Clarida may be the next to "retire"....They are ALL phucking dirty!
Fed Vice Chair Clarida Traded Millions One Day Before Powell Emergency Pandemic Statement.
What about all the illegal trading by these traitorous scumbags that has gone on over the last 13 years since the financial crisis that THEY themselves enabled?
Where is the SEC? Where are our federal judges and prosecutors? Where is the IRS? The FBI? Where is the law? Can we sue these bastards for damages created by this illegal trading? Where are ALL these taxpayer funded agencies that exist to protect the citizens of this soon to be banana republic????
https://www.zerohedge.com/markets/fed-vice-chair-clarida-traded-millions-one-day-powell-emergency-pandemic-statement
Of course, why break the law with their own money when you can use someone else's? What we have here is Neo-feudalism.
Neo-feudalism is a theorized contemporary rebirth of policies of governance, economy, and public life reminiscent of those present in many feudal societies, such as unequal rights and legal protections for common people and for nobility.
Where is the SEC? Where are our federal judges and prosecutors? Where is the IRS? The FBI? Where is the law? Can we sue these bastards for damages created by this illegal trading?
Kaplan Joins Rosengren In Retiring Amid Fed Ethics Probe
Where is the SEC? Where are our federal judges and prosecutors? Where is the IRS? The FBI? Where is the law? Can we sue these bastards for damages created by this illegal trading?
https://www.zerohedge.com/markets/boston-fed-president-eric-rosengren-retire-after-ethics-issue
Yep, right on que, with yet MORE fake numbers by our lying POS USmob.gov.
Since When Is A Little Rate Hike Years From Now Hawkish?
I'll tell you...when they can use words to slam gold down when it gets higher than they would like...that's exactly what yellow stain powell did 2 weeks ago.
BY TYLER DURDEN
FRIDAY, JUL 02, 2021 - 10:16 AM
Markets reacted strongly to what many considered “hawkish” messaging coming out of the June Federal Reserve meeting. But is the Fed really taking a “hawkish” position?
Peter Schiff said the Fed was engaging in a “no stick” monetary policy. And in his Friday Gold Wrap podcast, Mike Maharrey argued the Fed was a dove in hawks clothing, arguing we should look at the Fed’s actions, not the messaging.
Economist Doug FrencH asks a crucial question. Even if you take the Fed’s talk at face value, is a half-point interest rate hike in two years really “hawkish?”
Since when is forecasting a couple rate bumps two years from now considered hawkish to the point of making the dollar pop and gold flop?”
The following article by Doug French was originally published at the Mises Wire. The opinions expressed are the authors and don’t necessarily reflect those of Peter Schiff or SchiffGold.
The Fed announced the reportedly hawkish news that the central bank may raise rates, not this year, not next year, but by fifty basis points sometime in 2023. This tapering would slow the Fed’s buying of $120 billion of debt securities a month with money created from the ether to some lesser amount.
People forget the central bank “kept its benchmark rate on hold for a 10th straight meeting after sweeping into emergency action amid the coronavirus pandemic in March of last year with a full percentage-point cut.” Yet again emergency government action has become permanent.
This news sent the dollar screaming upward, with the DXY jumping from 90.54 to 92.32 at week’s end. The price of gold was, of course, bludgeoned. The yellow metal dropped 6.5 percent over the next five days. The ten-year Treasury bond finished the week at a paltry 1.44 percent. Meanwhile, financial basket case Greece saw its ten-year rate finish at seventy-nine basis points.
Making no news was Lyn Alden’s tweet that the Federal Reserve’s balance sheet crossed $8 trillion in assets. Fed watcher Alden followed this with the news, “Reverse repos jumped $235 billion today to $755 billion.”
Chairman Powell didn’t articulate what the Fed will do; the financial press deciphered it this way, per Bloomberg: “The Federal Reserve’s so-called dot plot, which the U.S. central bank uses to signal its outlook for the path of interest rates, shows that officials expect no change in policy this year, while leaning toward two rate increases by the end of 2023, based on median estimates.”
Does this make sense? Free markets at work? Logical price discovery? After all, as Murray Rothbard explained, “Since the investment is always in anticipation of later sale, the investors are also engaged in entrepreneurship, in enterprise.”
Since when is forecasting a couple of rate bumps two years from now considered hawkish to the point of making the dollar pop and gold flop?
Since it’s a Keynesian world, rather than an Austrian one, Lord Keynes reminds us, “The market can stay irrational longer than you can stay solvent.”
Another point of view is “I’m looking at the gold market right now and I think this could prove to be a good time to buy,” George Milling-Stanley, chief gold strategist at State Street Global Advisors, said. “I see a lot of panic selling and I don’t think that can last much longer. Basically, the markets saw higher inflation and higher interest rates, but they completely ignored the fact that the hikes are at least two years away. A lot can happen in two years.”
Milling-Stanley has a long enough memory to make the point, “the last time that the Fed was actually in a rate tightening mode was between December of 2015 and December of 2018, so gold should have gone down. But it went from $1,050 in December of 2015 to $1,270 by December of 2018. So gold went up 21% in those three years, even though rates were raised nine times.”
Keynes pointed out, “For it is, so to speak, a game of Snap, of Old Maid, of Musical Chairs—a pastime in which he is victor who says Snap neither too soon nor too late, who passed the Old Maid to his neighbour before the game is over, who secures a chair for himself when the music stops. These games can be played with zest and enjoyment, though all the players know that it is the Old Maid which is circulating, or that when the music stops some of the players will find themselves unseated.”
While Keynes viewed speculation as a game, Rothbard viewed it more seriously. “Entrepreneurship is also the dominant characteristic of buyers and sellers who act speculatively, who specialize in anticipating higher or lower prices in the future. Their entire action consists in attempts to anticipate future market prices, and their success depends on how accurate or erroneous their forecasts are.”
Nobody can say for sure the Fed will taper or increase rates. And just because the Fed’s inflation has forced us all to learn to pump our own gas and scan our groceries, not many have the entrepreneurial savvy to invest properly to fund retirement.
With the eight hundred–pound Fed in the markets, finding a chair and forecasting accurately may be next to impossible.
https://www.zerohedge.com/markets/when-little-rate-hike-years-now-hawkish
Tuesday the volume of traded contracts was 177,000. That’s 17 million ounces of “unallocated” (fake) gold traded. Worse, there are 453,000 gold contracts outstanding “open interest”. Considering 95% of the traders who SOLD these fake gold contracts don’t own 1 ounce of physical gold. This means they have sold (SHORTED) 45 million ounces of gold they NEVER OWNED. At some point (soon?) all these 453,000 gold contracts must be closed out. If there is not enough gold to execute physical delivery on at least SOME of these contracts, we will have a severe market imbalance.
After all this time do I really need to /sarc tag it for you?
Doesn't happen to this degree every month, this is over the top unjustified.
Gold tumbled as usual on nothing but more meaningless words from the fed, commonly referred to by anyone paying attention for the last ten years, as "jawboning" the market.
What a f'ing joke....gold clubbed more than $75 in less than one week on speculative "words" that the fed "might" raise rates twice (.25%) in 2023, while the printing press ($120 billion/mo) and inflation rages, absolute lies for the banksters/algos to trade on. Implementation of Basel 3 "at all/ever" is "also" a joke!
https://www.zerohedge.com/economics/fed-blinks
Dollar (DXY) way back down under 90 at January lows, 10Y yield back under 1.50 and gold getting hammered again? There is only one possible explanation; continued in your face fraud and manipulation, Basel 3....don't make me laugh!
Fake dollar run up yesterday morning is coming right back off this morning. It's almost as if yesterday's dollar spike, contrived by the usual suspects, was nothing more than to slam gold $40 ahead of a shitty May payroll report, naw, couldn't be....
Oh yeah, they are scared to death of Basel 3, NOT! Mark my word, NOTHING will change eom.
Don't forget Karora Resources KRR.TO/KRRGF, highly undervalued and kicking ass the last few days!
A lot of Reddit snowflakes crying in their crypto cornflakes this morning. PM's recovering nicely from earlier smackdown, crypto's...not so much. How ridiculous was +$60k anyways!
Yeah JD, I'll believe it when I see it.
Why Obey The Law?
How many times have I talked about this over the last what now -- 15 years?
This is nothing more than a "pay to play" arrangement between corporations/banks and the tax payer funded authorities.
State Street Corp (STT.N) agreed to pay a $115 million criminal penalty and enter a deferred prosecution agreement to resolve charges the bank defrauded customers by secretly overcharging them for back-office expenses, the U.S. Department of Justice said on Thursday.
According to settlement papers, State Street admitted that from 1998 to 2015 its executives defrauded customers out of more than $290 million through hidden markups.
https://www.reuters.com/business/legal/state-street-agrees-pay-115-mln-criminal-fine-customer-overcharges-justice-dept-2021-05-13/
No prison. Less than half what they stole. Allegedly they'll "give it back"; so what? It's been more than 20 years since this started.
How much did they make during those 23 years with all the robbed money?
They admitted to fraud.
They admitted intent.
They admitted doing it.
But nobody went to jail.
Not the first time either. 2016, here.
https://www.sec.gov/news/pressrelease/2016-8.html
Or in 2017 -- here.
https://www.sec.gov/news/press-release/2017-159
Or, if you prefer, how about in California back to 2001?
https://oag.ca.gov/system/files/attachments/press_releases/n1823_october_20.pdf
This is all the first time so we let them off, you know, once, right?
Oh wait...
https://violationtracker.goodjobsfirst.org/parent/state-street-corp
I want this deal.
I want to rob banks.
I'll give back the money if I get caught, plus 50%, but you have to wait 20 years so I can put it in the stock market and make five times as much money and then that way I still get to keep a good part of what I stole.
RISK FREE, since (1) I might not get caught and (2) I don't go to prison even if I do get caught.
If ordinary people can't have this deal then why shouldn't we tell the government to go to Hell and do whatever we want, law be damned, and if necessary force them to leave us alone?
After all that's the deal Wall Street -- and Pharma -- gets.
Speaking of pharma, you know Pfizer, the Coof-shot maker? Yeah, they're innocent too.
NOT.
https://www.justice.gov/opa/pr/justice-department-announces-largest-health-care-fraud-settlement-its-history
PS: Not one person has gone to prison from there either.
Clearly, the "rule of law" does not apply to corporations or the connected in a fascist state, which is where we are rapidly heading.
https://market-ticker.org/akcs-www?post=242405
Accounting errors causes LBMA to overstate silver holding by 3,300 tonnes during March Silver Squeeze
Accounting error, my ass!
Rajan Dhall
Tuesday May 11, 2021 09:00
An accounting error in the silver market, made by the London Bullion Market Association (LBMA), comes at a difficult time for the precious metal as investors are trying to gauge how much supply is actually in the marketplace.
Tuesday, the LBMA confirmed it made a reporting error in the amount of physical silver held in the London vaults. According to the recent report, the LBMA overstated London vault silver holdings by 3,300 tonnes in March when the market saw unprecedented demand for the physical precious metal.
"A data submission error led to the publication of an incorrect aggregate figure for the total silver held in London vaults in March. The corrected figure is 1,143,194 Troy ounces ('000s)," the LBMA said in a statement.
It was previously reported that at the end of April 2021, there were 1,153,154 Troy ounces ('000s) of silver held in London vaults representing a +0.9% increase on the previous month.
Bullion Star on Twitter commented stating "In early April, LBMA claimed that total silver held in LBMA London vaults had risen by a massive 11% during March from 1.125 bn ozs (34,996 tonnes) to 1.249 bn ozs (38,859 tonnes). This, it turns out, was not true, as the real end of March figure was 1.143 bn (35,557 tonnes)."
Looking at the numbers in detail, 3,300 tons is 96,251,100 troy oz which is a pretty significant 'data submission error.' According to some analysts, with tens of thousands of tonnes of fractionally-held gold and silver cleared every year in the London market, transparency is vital.
Chris Marcus, the founder of Arcadia Economics, has previously said that the U.S. Mint has been unable to meet physical demand.
Marcus often states there has been a lack of backing behind the sales of certain silver contracts.
In regards to this latest incident, Marcus tweeted: "I feel like I almost have to sleep on this one before commenting further… Because unless I'm missing something, did they basically just say that they didn't add the 118 million ounces they claimed during silver squeeze weekend?"
On a more cynical side, many traders and investors in the bullion markets have been talking about the "silver squeeze." This has been caused by a band of traders organizing through social media and piling into the silver-backed ETF SLV.
The monthly chart below shows just how big the volume spike has been over the last year compared to when the price was trading at higher levels in the past.
Is there enough physical silver out there to back the current paper being sold?
By Rajan Dhall
For Kitco News
Comments:
Silverhug
1 hour ago
No there is not enough silver at all. Allisdair Macleod at Goldmoney has been saying for many months now that the LBMA has misrepresented total unallocated silver init's vaults by being as un-transparent as they possibly can. Most of the gold and silver is already spoken for or allocated to major players such as countries, CB's, Family offices and PSLV ETF. The LBMA is counting other people's silver in their total unallocated figures. This is serious corruption and criminal action and needs to be policed!!
Kenneth Knutson
5 hours ago
Caught lying. The rest of the silver world is the same lying criminal organization.
ghost cat
4 hours ago
Exactly, banksters rigging the silver markets for decades making the price go up, down and sideways while reaping billions of profits on the backs on serfs!
Buy physical and keep on stacking,
If you don't hold it then you don't own it!
Bill Sundling
6 hours ago
It's a joke to say "accounting errors".
DCAMARILLO
6 hours ago
Accounting errors? You mean criminal fraud! Keep stacking chips to expose these liars. My contempt for these criminals grows by the day.
mightymouse
2 hours ago
My contempt has bloomed ...
Siren
7 hours ago
Actually - I just found an error too - I have 3,300 tons of silver in my big basement. I would like a loan against that collateral. I can close on that as soon as tomorrow morning.
Bill Sundling
6 hours ago
You should take 50 loans out on it too. Just like how SLV sells 50 shares for every ounce of silver they have.
OldFatGuy
7 hours ago
How on earth silver isnt $100 or more per ounce NOW, is beyond me. 100mm oz ISN'T THERE.
Bill Daley
8 hours ago
Too big to jail .
mightymouse
8 hours ago
33 the masonic signature ... yea rigged markets ... rigged financial news ... stock market is a ponzi scheme ...
kepler22B
9 hours ago
BTW those are PAMP Suisse kilo bars; I'd recognize them anywhere... but I only hold 4 x 9's purity, otherwise I'd buy PAMP silver too.
Ian M
7 hours ago
I don't like the look of the extruded bars. I'd rather have the pour lines. I keep a 10oz tombstone on my desk to fiddle with, along with a 5 stack of old morgans just to remind me silver really is money.
DumbGuy
9 hours ago
A data submission error= We reported fake #s.
Sorta like saying "The algorithm was incorrectly doing EXACTLY WHAT WE TOLD IT TO..."
OldFatGuy
10 hours ago
Is there enough physical silver out there to back the current paper being sold?
Its like God asking Adam "Where are you". God knew, he just wanted Adam to admit "where" he was.
LBMA: its time to admit "where" you are. Let the markets actually function. Its best for all of us in the long run
OldFatGuy
10 hours ago
3300 tonnes? "go big, or go home" i suppose
Minedpopcorn7
10 hours ago
Oh yeah surrrrrrreeeee nod nod wink wink buahahahhhahaha
MarshallLucky
10 hours ago
Missed it by that much.
Dave
11 hours ago
Is anybody surprised? It will continue until somebody big enough holds for delivery and breaks them. Until then, it's just another day at the "market".
CyanProcessor
8 hours ago
Errors? There were no errors, just liars and more lies. God said "Thou shalt not bear false witness", do these people not fear the afterlife?
DeezNutz44
11 hours ago
Just an honest mistake , wink wink nudge nudge.
Ian M
11 hours ago
LOL! I'm trying to sleep and I read this. Now I'm WIDE awake and grinning from ear to ear. Gotta love Chris Marcus!
Garth kbikes
11 hours ago
Lol shock horror LBMA states they have made a mistake by over counting 3300 tonnes of silver, give me a break they are on the same scam as Comex. If auditors can't count get a few 14 year old school boys in on a weekend to count the bars. They'll be more accurate & way cheaper lol.
mightymouse
2 hours ago
3300=33 masonic signature= devils ...
ghost cat
4 hours ago
I hope Basel three breaks them this summer! I know it's gold as a tier 1 asset but every bit helps!
goldcrap
11 hours ago
I think they missed a zero
https://www.kitco.com/news/2021-05-11/Accounting-errors-causes-LBMA-to-overstate-silver-holding-by-3-300-tonnes-during-March-Silver-Squeeze.html
Nasdaq Explodes Higher, Gold Gains, Dollar & Bond Yields Crash After Dismal Jobs Data
April Payrolls Huge Miss: Just 266K Jobs Added On Expectations Of 1 Million
Nobody was preparing for a huge miss. And that's precisely what we got.
FRIDAY, MAY 07, 2021 - 08:43 AM
Well that escalated quickly. The dismally disappointing payrolls data has sparked chaos across capital markets as investors consider 'tapering the taper' talk.
Market-implied Fed Rate expectations collapsed with the odds of a rate-hike before Dec 2022 now less than 50%...
The equity market is very mixed as the rotation back to 'growth' explodes with Nasdaq soaring and Small Caps plunging...
Treasury yields have crashed to two-month lows...
The dollar is puking back to its weakest since February...
Which is sending gold higher, back above $1840 at two-month highs...
But as a reminder, BofA notes that US payrolls release has been a highly risk-on even over the last 12 months...
Get back to work Mr.Powell.
https://www.zerohedge.com/markets/nasdaq-explodes-higher-gold-gains-dollar-bond-yields-crash-after-dismal-jobs-data
This is the first year I've noticed where gold is not only inverse of the dollar, but is now also inverse to the 10 year yield. If yields rise, that means inflation so how can gold be a hedge against inflation and not the rising 10 year yield?
The CV19 vaccine (experimental gene therapy) is not only ineffective, it is unproven and downright dangerous!
Do Stupid Things, Win Stupid Prizes
It's ok folks, it's very "rare".
Uh huh, sure it is.
https://www.bloomberg.com/news/articles/2021-05-03/victims-of-rare-vaccine-injury-wait-to-see-if-u-s-fund-will-pay?sref=i4qXzk6d
High school senior Emma Burkey received her “one and done” Johnson & Johnson coronavirus vaccine on March 20, and within two weeks was in an induced coma following seizures and clotting in her brain.
She’s making a slow recovery, having recently been transferred from the hospital to a rehabilitation center, and the first round of bills totaled $513,000. The 18-year-old’s family friends in the Las Vegas area started a GoFundMe account to help with medical expenses from the very rare vaccine reaction.
An 18 year old, according to the CDC, has a roughly 1/50,000 risk of being killed by Covid-19 assuming the FDA's and CDC's "standard of care" which prohibits the use of budesonide, ivermectin, monoclonal antibodies and a whole host of other drugs which we know work. One of them, budesonide, has a roughly 90% efficacy in preventing hospitalization (and of course death usually is preceded by that if you get Covid); the others also have some efficacy. Stacking just those three likely winds up around 95-99% effective, so your actual risk, if you're not a dumb-ass and are both young and get Covid-19 is more like 1/500,000.
And that's if you get Covid. The CDC says about 1/10 people have over a year's time, so your risk as a healthy 18 year old is approximately 1/5,000,000 since to be exposed to the risk of death you first must get the disease and that is not certain. Remember, according to the CDC if you die while Covid-19 positive then your death was caused by Covid-19, even though this is not scientifically proved. This is the same standard that VAERS uses for vaccine death; you died associated with receiving the shot; it is not proved it was caused, but if that's good enough for the CDC to claim the Coof killed you then it sure as hell is good enough to claim the vaccine killed you.
By the CDCs VAERS numbers and the number of delivered shots into arms the risk of the shot killing you is approximately 1/45,000 and if you take the shot the hazard is 100% probable to be undertaken, obviously. So if you're not specifically morbid the shot is one hundred times more dangerous than the disease.
Oh, and we know the VAERS reports are wildly understated. Why? Because it's a voluntary system; there is no mandate on any person or health provider to report potential adverse connected effects. While you (as the impacted individual) can report to the system obvious doing that if you're dead is somewhat difficult. Were this a mandatory system where any death within "X" time of an inoculation had to be reported, with a criminal penalty for not doing so by health providers, we might have a more-full picture. But unlike death certificates which must be issued, and the CDC rules for Covid-19 that say if you were positive any time in the last 28 days, or at death, your death is ruled Covid-related there is no such mandate for VAERS.
Maybe health insurance will pay Emma's bill, at least in part. What's Emma's deductible, if she has insurance? Will she be eating that deductible every year for the rest of her life with a continuing care requirement? Will her insurer refuse to pay entirely, since these were experimental shots? What happens if Emma wants to start a family and tries to get life insurance down the road? Will it be available at any reasonable price? Has her ability to bear a child been damaged or destroyed? What about her ability to enjoy all the things she used to enjoy; will she, for example, still be able to go for a nice jog? Can she hold a driver license? What about a CDL or pilot's license? What about something as simple as driving a forklift in a warehouse? Have the seizures permanently destroyed those options for Emma?
You think Emma hasn't had her employment prospects permanently damaged or even destroyed? Oh, yes, it's illegal to discriminate against someone on the basis of their medical status (funny how people claim that "we can require vaccines!" yet ignore that the law actually makes discrimination in employment or services on the basis of medical status illegal eh?) but you can bet employers do exactly that all the time, every single day. Would you hire Emma knowing that she has a much greater risk of being a serious health insurance cost center? Not if you can get away with turning her down without her knowing you did it due to her health status! Proving that was the reason you were discriminated against is very difficult but every employer in the world can see the GoFraudMe campaign for "help." You think employers don't check that sort of thing on the down low? They sure do. Oops.
Emma's medical chart has been permanently branded by this incident and there is no possible way to erase that branding which is now in the MIB and will be with her forever. It will impact her ability to get a job and it will do lifelong damage to her economically, even if medically it appears she fully recovers, which of course nobody knows at this time.
Emma was stupid. Emma did a stupid thing; she intentionally took 100 times, that is, 10,000%, of the risk she had no choice but to accept from Covid infecting and killing her, and willingly, being 18 years old and thus an adult, pulled a personal black ball out of the bag.
She won a stupid prize for doing a stupid thing, willingly taking 100 times the natural risk.
Who failed to explain to her the above data? Who advocated for her to do said stupid thing? This is not my data it is official government data. Yet official government agencies and their employees have been screaming all over the media, the news, the CDC itself and elsewhere a factual lie; that for someone who is not at particular risk the shots are wildly more-dangerous than natural infection by the very same criteria that the CDC uses to determine whether or not Covid-19 kills you.
Do stupid things, win stupid prizes.
Now Emma knows that her government is and has been full of ****, and she learned it the hard way having been personally butt****ed by the so-called "safe and effective" shots for a disease that was far less-likely to harm her than the shot was.
There are people for whom the math runs the "right way", even given the relatively high risk profile of these shots. But being coerced by an employer, by a school, by peer pressure or by flat-out lies from various "health" organs is not only wrong it damn well ought to result in the most-severe of penalties because we are talking about risks that, if you get a bad dice roll, you can't go back and change your mind.
Don't be Emma.
Do the math before you take the jab.
https://market-ticker.org/akcs-www?post=242268
Yellen Reverses Earlier Hawkish Comments Entirely, Says "I'm Not Predicting Anything"
So after all the damage her reckless statements caused to PM's and stawks the bitch simply recants her utterance later in the day and all is well, except PM's of course. In the end, her comments flash crashed gold $25 and prevented it from crossing the $1800 mark this morning (still down $15), mission accomplished. You just can't make this shit up!
TUESDAY, MAY 04, 2021 - 04:17 PM
Update (1315ET): Just as we predicted - but even sooner than we expected - Treasury Secretary Janet Yellen has not just walked back her earlier statement but has entirely reversed it.
Speaking at The Wall Street Journal's CEO Council Summit, the former Fed head said she "didn't see [Biden's] rescue package overheating the economy."
Speaking at The Wall Street Journal's CEO Council Summit, the former Fed head said she "didn't see [Biden's] rescue package overheating the economy."
"Let me be clear it’s not something I’m predicting or recommending,” Yellen says about rates, flip-flopping her earlier perspective entirely.
Then she addressed the issue of inflation, toeing the establishment line that it will be "transitory" for the next six months or so...
She added that if there is an inflation problem she is certain the Federal Reserve can be counted on to address it.
We wonder who tapped her on the shoulder and said "stay in your lane, Janet!"
https://www.zerohedge.com/markets/stocks-extend-losses-after-yellen-says-rates-will-have-rise
Stocks Extend Losses After Yellen Says "Rates Will Have To Rise"
And right on que, pm's get slammed, all on a few pre-recorded algo-driving empty words from the old-chair, non-chair Ol'Yeller!
TUESDAY, MAY 04, 2021 - 11:19 AM
Treasury Secretary Janet Yellen is speaking at The Atlantic's "Future Economy Summit" this morning - a speech she pre-recorded yesterday - and has sparked some chaos with her comments.
The highlight was this...
"It may be that interest rates will have to rise a little bit to make sure our economy doesn't overheat''
And this didn't help...
"We've gone for way too long letting long-term problems fester in our economy"
Is she talking about Fed-sponsored wealth-creation widening the inequality gap?
And the response - stocks puked as one would expect at the first signs of the punchbowl being taken away...
The dollar also spiked on the comment...
We wonder what Jay Powell will have to say about Janet stepping on his toes? Did she just start the process of thinking about thinking about thinking about normalization?
Same as it ever was...
Always good to hear you chime in cork.
Without a return to "rule of law" nothing will change, and from the look of things across the board, that won't be happening anytime soon.
That was indeed a pretty good article!
Jan 6 'Riot Claim' Collapses, Rule of Law...It's GONE!
So now the proof is in. https://www.nbcnews.com/politics/politics-news/capitol-police-officer-brian-sicknick-died-natural-causes-after-riot-n1264562
Capitol Police Officer Brian Sicknick was not killed.
He was not hit with a fire extinguisher, nor did he die to being blasted with bear spray by a protester. There was no trauma anywhere on his person nor any evidence of chemical irritants causing a bodily reaction of any sort that could have resulted in his demise.
He had two strokes at the base of his brain, caused by a blood clot, and that is why he died.
Brian did not die "in the line of duty" nor was he a hero. He was simply a police officer who passed away due to natural causes unrelated to the events of January 6th.
Yet the media and in fact Congress itself claimed otherwise. It formed one of the predicates for the second impeachment of Donald Trump. It was played across the nation for months, was the predicate for the fencing and division-level deployment of the National Guard and more.
All of that was a lie.
For how long has this autopsy been in the hands of various people? Who believes it took three months to perform it? Nobody, right?
So why.... now?
The media and others believe it's off the radar, it's behind the news cycle, and they already got what they wanted out of the lie, so it's time to let it quietly go away. Nobody has been or will be prosecuted for the violence and unlawful actions that lie led to, of which there were many.
Nor will you hold them to account.
Indeed, Mad Maxine Waters showed up in Minneapolis and committed at least one felony -- jury tampering -- by making clear that as a sitting congresswoman she supports rioting unless Chauvin is found guilty. Then Nancy Pelosi followed up with her own jury tampering by making clear that she believed there was only thing called "justice", and it came on in only one form of a verdict. While that latter one might not cross the line, Max Max sure did. You or I would go to prison for what Maxine did -- we'd be immediately arrested and indicted, and justly so. No, Mad Max's statement is neither protected speech by the speech and debate clause; that only applies on the floor of the House and incitement to riot unless you get a verdict you want certainly qualifies as attempting to pressure jurors to act outside of the facts and evidence, which is the definition of jury tampering.
Rule Of Law?
Forget it.
It's gone.
https://market-ticker.org/akcs-www?post=242233
Silver, straight down this morning almost $1 in less than an hour, nothing's going to change on Monday or any other day, it's all kabuki theater, look here but don't look here.
Yeah, I like the way they always try to slam PM's right before market open, so miners don't catch a bid either. Honestly, I don't see how the cartels and bullion banks can ever dig themselves out of the hole they are in if they keep adding daily to their deficit with more and more fresh paper contracts needed to continually slam PM's.
Glad to have you back, that really stinks, what you are having to go through.
Is China Preparing A Gold-Backed Yuan: Beijing Greenlights Purchases Of Billions In Bullion
https://www.zerohedge.com/markets/china-readying-gold-backed-yuan
US Halts Use Of J&J COVID Vaccine After 6 Cases Of Deadly Rare Blood Clots Identified
Anyone with half a brain that pays attention and is capable of critical thinking could see this coming. All TPTB had to do is cite and expand on decades old existing clinical trial data and distribute very inexpensive and readily available Ivermectin/Hydroxychloroquine/Budesonide to the population and this nonsense would have been over last summer. But that wasn't the plan, instead they marginalized/demonized the use of these three drugs and made them largely unavailable, then they broke long standing law by rushing development and distribution of an untested dangerous non-FDA approved vaccine, (that really isn't a vaccine). The law states that ALL existing drugs must be PROVEN to be ineffective BEFORE moving on to a vaccination protocol. Just one more example of the "rule of law" not being enforced at the top.
https://www.zerohedge.com/covid-19/fda-halts-use-jnj-covid-jab-after-6-cases-deadly-rare-blood-clots-identified
This is why TPTB want our guns so badly, the 2nd amendment and gun ownership are the only things standing in their way, if Americans voluntarily give up their guns (and judging from the way they laid down for the coof, it could happen), it's over.
Cases, cases, cases, that's all you hear, flawed testing producing mostly false positives, case numbers are inclusive of the seasonal flu, common cold, and any death for any reason that tests positive post mortem for the coof is coded as a covid death. What part of this don't people understand?
Yep, no justification for it today, dollar is flat/down, 10 year is flat/down, just another non-relenting take down on every uptick.
The only catalyst was the Powell interview where the words "hike" and "Hawkish" were mentioned, IMO specifically for the purpose of algos to take PM's down of coarse.
Rabo: Powell Can't Wait To See "Actual Inflation" To Hike... But What Do We Have Right Now
Inflection/Infection Point
If you are still in the camp that all that really matters is what central banks say, then note “the US is now at an inflection point”. So says Fed Chair Powell on CBS TV. While positive, this does seem to lean in a more hawkish direction: could his credibility be “Gone in 60 Minutes”, after repeated messaging that rates are on hold for years to come? Or is this a special kind of inflection point which still necessitates the lowest rates and most QE ever? It seems so, as Powell added: “We can wait to see actual inflation before we raise interest rates.” What do we have right now, chopped liver?! Yet the primary concern for the Fed is not inflation, but infection. If Covid gets worse again, then the Fed needs to be there: but what if infection doesn’t?
https://www.zerohedge.com/markets/rabo-powell-cant-wait-see-actual-inflation-hike-what-do-we-have-right-now
We all knew there was, but unfortunately there is no longer any "rule of law" being enforced that would stop this criminal fraud being perpetrated on the US citizen.
BLM Founder Branded "Fraud" After Buying Million-Dollar Home In Mostly-White LA Enclave
It's ALL fake virtue signaling, designed to divide and tear down our culture, society and Nation.
https://www.zerohedge.com/political/blm-founder-branded-fraud-after-buying-million-dollar-home-mostly-white-la-enclave
Just another example of "throwing the baby out with the bathwater". These tried and true phrases have stood the test of time for a reason, but the simple minded, propagandized, indoctrinated, history erasing social media keyboard warriors, who think they know a better way without having a clue, won't "get it", that they are "on the wrong side of history", until it's too late, a day which is rapidly approaching.
You got it Gio, sometimes lessons need to be learned the hard way.