Jul 092019
 
 July 9, 2019  Posted by at 8:45 am Finance Tagged with: , , , , , , , , , , ,


Pablo Picasso Guernica [Study] III 1937

 

Carnage At Deutsche Bank (Coppola)
Gold Is At A Historical Low (Von Greyerz)
Trump Hits Out At May After Leak Of Damning Cables (AFP)
Barr Talks 2020 Citizenship Question, Recuses Self From Epstein Case (ZH)
I Hear That Train a’Comin’ (Kunstler)
How Syriza Let The Greek Right Escape The Dustbin Of History (Varoufakis)
Hong Kong Leader Carrie Lam: Extradition Bill ‘Is Dead’ (CNBC)
Almost Half Of Brits Are Stockpiling Food, Medicine And Clothes (BI)
Russia Prepares S-400 Systems For Delivery To Turkey (AP)
Russia-Gate Blossoms Into Deep-State-Gate (McGovern)
Russia’s RT and Sputnik Barred From UK Conference On Media Freedom (G.)
Juror Urges US Judge To Uphold $80 Million Roundup Verdict Against Bayer (R.)

 

 

No, we’re not going to feel sorry for bankers.

Carnage At Deutsche Bank (Coppola)

The outlook for many of the terminated staff is grim, particularly in the U.K. where Brexit uncertainty is casting a considerable shadow. Not that anyone outside the finance industry cares, much. The British haven’t forgotten the financial crisis of 2008. The business that Deutsche Bank is closing down is bigger than Nissan’s automobile manufacturing plant in Sunderland, the uncertain future of which has hit headlines and led to questions in the U.K. Parliament. But no-one is going to lose any sleep over unemployed investment bankers – even if there are more of them than there are workers at the Sunderland plant. The silence from British politicians about the prospect of up to 8,000 British workers losing their jobs is deafening.

But the woes of terminated staff don’t concern Deutsche Bank’s Chief Executive, Christian Sewing. He has a bank to rescue, and investors to placate. His letter to staff had a distinctly ruthless tone: “I am very much aware that in rebuilding our bank, we are making deep cuts. I personally greatly regret the impact this will have on some of you. In the long-term interests of our bank, however, we have no choice other than to approach this transformation decisively.” “I weep for you, I really do…” while dishing out the redundancy notices. Sewing has all the personnel skills of a crocodile.

Just how little concern Sewing has for the feelings of the staff he is letting go became apparent at 9.30 am London time. While hundreds of staff in the London office were being sacked, executive management held a conference call – from the London office. During that call, the Chief Executive, Christian Sewing, announced that the bank still plans to maintain a large presence in London. In fact it is intending to move into shiny new offices on Moorgate. It is not hard to imagine how the sacked staff felt about this. It amounted to rubbing their noses in it.

Read more …

“..the peak price for gold in 1980 at $850, today would be $18,160 adjusted for inflation.”

Gold Is At A Historical Low (Von Greyerz)

[..] when we entered our physical gold investment in 2002, I had certainly been “sitting” for a very long time. Gold started the current bull market in 1971 at $35, made a temporary top in 1980 at $850 and then spent 20 years correcting. But the gold bull certainly hadn’t finished, central banks saw to that. They continued their irresponsible monetary policy, leading to a chronic credit expansion, debasement of currencies and thereby permanently underwriting the gold price. Looking at gold on an inflation adjusted basis, 2000 was the lowest point since 1971 when the price was $35 per ounce (based on Shadow Government Statistics inflation calculation).


The gold chart below, adjusted for real inflation, shows this amazing insurance can be bought today at an all-time historical low. Gold priced currently at $1,400 is cheaper than in 2000 at $280, cheaper than in 1970 when gold was $35 or in 1780 when gold was traded in London at £4 per ounce. What the chart also shows is that the peak price for gold in 1980 at $850, today would be $18,160 adjusted for inflation. There is no reason why gold wouldn’t reach that level in the next few years, especially as the gold paper market implodes.

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Which government is more inept?

Trump Hits Out At May After Leak Of Damning Cables (AFP)

Donald Trump launched an extraordinary attack Monday on outgoing British premier Theresa May, following the leak of diplomatic cables highly critical of his presidency. London has been scrambling to stem the damage caused by the weekend release of confidential telegrams in which its envoy to Washington, Kim Darroch, described the US leader as “inept” and his White House as “uniquely dysfunctional.” Visibly angered by May’s continuing support for her ambassador — which Downing Street reiterated on Monday — Trump assailed the prime minister over her handling of fraught Brexit negotiations, and welcomed her impending departure from office.


“What a mess she and her representatives have created,” Trump fumed in a series of tweets. “I told her how it should be done, but she decided to go another way.” “The good news for the wonderful United Kingdom is that they will soon have a new Prime Minister,” he wrote. As for London’s man in Washington, Trump declared he would have no further contact with him. “I do not know the Ambassador, but he is not liked or well thought of within the U.S,” the president said, doubling down on weekend comments claiming his administration were “not big fans” of Darroch. “We will no longer deal with him,” Trump vowed. But even after Trump’s remarks, a government spokesman said that “Sir Kim Darroch continues to have the prime minister’s full support.”

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“..he used to work for one of the law firms representing Epstein “long ago..”

Nothing else about Epstein for now, but I find the reports interesting about no-one knowing where his money comes from. Financiers leave traces of their work, he did not.

Barr Talks 2020 Citizenship Question, Recuses Self From Epstein Case (ZH)

Attorney General William Barr said on Monday that the Trump administration can legally add a citizenship question to the 2020 census, which had been excluded for the first time in US history by President Obama. Barr told the Associated Press that he has been in regular contact with President Trump over the matter. “I agree with him that the Supreme Court decision was wrong,” said Barr – referring to the USSC’s June Decision to block the citizenship question, adding that there is “an opportunity potentially to cure the lack of clarity that was the problem and we might as well take a shot at doing that.” According to the report, President Trump is likely to issue a presidential memorandum to the Commerce Department over the next several days ordering it to include the citizenship question.

Last week the Justice Department appeared to cave to legal pressure to keep the question off the census, only for President Trump to reverse course the next day – tweeting that the efforts to print the question would move forward. “The tweet this morning was the first I had heard of the president’s position on this issue, just like the plaintiffs and Your Honor. I do not have a deeper understanding of what that means at this juncture other than what the president has tweeted,” DOJ attorney Joshua Gardner told a federal judge during a Wednesday teleconference, adding “But obviously, as you can imagine, I am doing my absolute best to figure out what’s going on.” The DOJ on Sunday also announced that it would be replacing its entire legal team dealing with the citizenship issue – replacing them with other government attorneys.

On Monday, Barr told reporters that he had recused himself from the case involving billionaire pedophile Jeffrey Epstein, who was arrested over the weekend on charges of sex-trafficking minors, according to the Washington Times. Barr says that he used to work for one of the law firms representing Epstein “long ago,” though he did not name the firm.

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Didn’t Jim used to be a Democrat?

I Hear That Train a’Comin’ (Kunstler)

The Republican Party is a train of booby-trapped freight cars that can blow at any time. The engine is running on the fumes of the financialized economy. The engineer, Mr. Trump, only has his eye on the gauge that represents the stock market, which produces the gaseous emanations running his train. But the tank cars are leaking. The vapors are highly flammable. Any little spark can set it off, and surely will.

The Democratic Party is carrying seventeen gondola cars of the worst political scandal in US history: RussiaGate, the attempted coup d’état by national gaslighting, which will expose dozens of party officers and foot-soldiers in an actual criminal conspiracy, and subject them to ignominious prosecution in the heart of the election year. The damage could run as high as former President Obama when all is said and done, with Mrs. Clinton dragged under the wheels in the ensuing train wreck. It will be ugly and embarrassing to the max.

The Dem’s train also includes the circus cars of its identity politics hustlers, Reps AOC, Ilhan Omar, Rashida Tlaib, and Ayanna Pressley plus the sideshow of so-far-suppressed Joe Biden scandals concerning massive cash payoffs from Ukraine and China to his entrepreneurial son, Hunter — conveniently arranged during his Dad’s official trips to those places as Vice-president. There is reason to believe that a majority of voters are good and goddam sick of identity hustling and the tiresome racket of political correctness that spawned it. They see its bottomless appetite for grievance and complaint — against a reality in which life is difficult for everybody, not just self-proclaimed victims of oppression.

They smell the odor of bad faith in the party’s campaign for an open border with Mexico and its abject refusal to legislate immigration law reform — while grandstanding about the alleged mistreatment of people who cross the border illegally. Most of all, they are sick of the endless moral instruction and coercion, especially over “gender” issues and sexual boundary-stretching, the parades of freaks in dog masks, ball gags, and S & M get-ups, not to mention the utter insanity of the drag queen story hour, in which men perform as monstrous caricatures of women for impressionable six-year-olds. That is what it’s come to for the party of Franklin Roosevelt and Jack Kennedy.

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“..on one side, apparatchiks connected to vulture funds and failed banks and, on the other, ultra-nationalist former fascists.”

How Syriza Let The Greek Right Escape The Dustbin Of History (Varoufakis)

The Greek right is back: greedier, uglier and more focused than ever. The incoming New Democracy government is determined to reclaim full control of the state on behalf of the most parasitic segment of Greece’s oligarchy and, of course, of our country’s ruthless creditors. Kyriakos Mitsotakis, the new prime minister, is a scion of one of the dynasties responsible for Greece’s perpetual bankruptcy, corruption and subservience to the Atlanticist oligarchy-without-borders. Tellingly, he has surrounded himself with, on one side, apparatchiks connected to vulture funds and failed banks and, on the other, ultra-nationalist former fascists.

Together, Mr Mitsotakis’ motley reactionaries plan to unleash a fresh class war against a people who have already lost almost everything, against minorities, against our environment, against common decency. How did this happen? Four short years ago, Greek voters gave Syriza, the party of the radical left, a mandate to unseat the oligarchs and confine New Democracy to its rightful place — the dustbin of history. On 25 January 2015, caught up in the moment’s excitement, I quoted from Dylan Thomas to convey a message of hope to progressives across the globe: “Greek democracy,” I wrote, “today chose to stop going gently into the night. Greek democracy resolved to rage against the dying of the light.”

So, what went wrong? What was it that allowed the restoration of an authoritarian, incompetent regime that wrecked Greece before turning it into a harsh debtor’s prison from which emigration was, and remains, the only escape? When did my fellow Greeks stop raging against the long night of our debt bondage? The answer is: the night of Sunday 5 July 2015.

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But she won’t withdraw it.

Hong Kong Leader Carrie Lam: Extradition Bill ‘Is Dead’ (CNBC)

Hong Kong leader Carrie Lam said Tuesday that the controversial extradition bill that has led to mass protests in the city is “dead.” Addressing the weeks-long drama during a news conference, she reiterated that there is no plan to restart the legislation. She described the work to amend the bill as a “total failure.” Lam, meanwhile, said she took full responsibility for what has happened in the city, according to a translation of her address. Political tensions in Hong Kong have risen in recent weeks amid protests over an extradition bill that would have allowed some arrested in the city to be sent for trial in mainland China.


The bill had been suspended after a first round of demonstrations, but protesters continued taking to the street with calls for it to be withdrawn completely. “I have almost immediately put a stop to the (bill) amendment exercise, but there are still lingering doubts about the government’s sincerity, or worries whether the government will restart the process in the legislative council, so I reiterate here: There is no such plan, the bill is dead.” Notably, Lam did not say that she is officially withdrawing the bill, raising questions about to what extent the measure could be revived in the future.

Read more …

Halloween is less than 4 months away.

Almost Half Of Brits Are Stockpiling Food, Medicine And Clothes (BI)

Four out of ten Brits are stockpiling items including food, medicine and clothes in preparation for the growing prospect of the United Kingdom leaving the European Union without a Brexit deal later this year. 40% of people in the UK have started stockpiling goods in fear that there will be shortages in a no-deal Brexit scenario, according to research into consumer behaviour carried out by intelligence company, Blis. The most commonly stockpiled item is food. 56% of those Brits who are stockpiling are doing so with food items. 44% are building up supplies of household items, and well over a third (37%) are doing so with medicine. The public is even stockpiling clothing. Over a quarter of Brits (28%) have bought extra clothes and shoes to prepare for shortages and higher prices in aftermath of the UK leaving the EU without a deal on October 31.


Both candidates to replace Theresa May as prime minister, Boris Johnson and Jeremy Hunt, have promised to take the UK out of the EU this year, with or without a deal, with Johnson insisting that leaving on October 31 is “do or die.” The revelation that nearly half of British people are stockpiling goods like food and medicine in their own homes comes as British businesses ramp up preparations for a possible no-deal Brexit on October 31. Business Insider reported earlier this year that there was an even greater risk of supermarket shelves going empty due to shortages in October, than there was in the run-up to the original Brexit deadline in March. That’s because most of the warehouse space that companies used to stockpile goods in the run-up to March is not available in October, as it’s already booked up for the busy Christmas period when demand for goods rockets.

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How big will this blow up?

Russia Prepares S-400 Systems For Delivery To Turkey (AP)

Turkish President Recep Tayyip Erdogan has said Russia’s S-400 air defense missiles are currently being prepared to be flown to Turkey. Speaking to reporters before leaving for Bosnia on Monday, Erdogan wouldn’t say, however, when the Russian missile defense system would reach Turkey or where they will be deployed. The delivery of the systems could bring Turkey closer to US sanctions. US officials have warned that Turkey would face economic sanctions as well as being expelled from a program to produce the F-35 fighter jets. Turkey has refused to pull back from the deal. Erdogan said: “The preparations for the journey, the loading [of the S-400] is continuing … The S-400 will arrive by planes. May it be beneficial for our country, our region and especially for the world.”

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“And sure enough, now, three months later, where are the criminal referrals?”

Russia-Gate Blossoms Into Deep-State-Gate (McGovern)

That the Deep State retains formidable power can be seen in the repeated Lucy-holding-then-withdrawing-the-football-for-Charlie Brown treatment experienced by House Intelligence Committee Ranking Member, Devin Nunes (R-CA). On April 5, 2019, in the apparent belief he had a green light to go on the offensive, Nunes wrote that committee Republicans “will soon be submitting criminal referrals on numerous individuals involved … in the abuse of intelligence for political purposes. These people must be held to account to prevent similar abuses from occurring in the future.”

On April 7, Nunes was even more specific, telling Fox News that he was preparing to send eight criminal referrals to the Department of Justice “this week,” concerning alleged misconduct during the Trump-Russia investigation, including leaks of “highly classified material” and conspiracies to lie to Congress and the FISA court. It seemed to be no-holds-barred for Nunes, who had begun to talk publicly about prison time for those who might be brought to trial. Except for Fox, the corporate media ignored Nunes’s explosive comments. The media seemed smugly convinced that Nunes’s talk of “referrals” could be safely ignored — even though a new sheriff, Barr, had come to town. And sure enough, now, three months later, where are the criminal referrals?

There is ample evidence that President Trump is afraid to run afoul of the Deep State functionaries he inherited. And the Deep State almost always wins. But if Attorney General Barr leans hard on the president to unfetter Nunes, IG Horowitz, Durham and like-minded investigators, all hell may break lose, because the evidence against those who took serious liberties with the law is staring them all in the face.

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Clowns.

Russia’s RT and Sputnik Barred From UK Conference On Media Freedom (G.)

Russia’s RT and Sputnik news organisations have been banned by the Foreign Office from attending a global conference on media freedom in London because of their “active role in spreading disinformation”. Some 60 ministers and 1,000 journalists and members of civil society are expected to attend the meeting, co-hosted with Canada, on Wednesday and Thursday. “We have not accredited RT or Sputnik because of their active role in spreading disinformation,” a Foreign Office spokeswoman said. “While it’s not possible to accommodate all requests for accreditation, journalists from across the world’s media are attending the conference, including from Russia.”


The Russian embassy previously condemned the decision relating to RT as “direct politically motivated discrimination” and said it had complained to the Foreign Office. In a statement on Friday, it said RT had been told there was no space for its journalists at the conference. After the Foreign Office comments on Monday, RT said in a statement: “It takes a particular brand of hypocrisy to advocate for freedom of press while banning inconvenient voices and slandering alternative media.” In December, British media regulator Ofcom found that RT had broken impartiality rules with several programmes broadcast after the nerve agent attack in the English city of Salisbury. Moscow has denied claims by London that it approved the attack on a former Russian double agent in March last year.

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Interesting legal arguments. Juror tells judge what the law actually says. And Monsanto getting personal about jurors.

Juror Urges US Judge To Uphold $80 Million Roundup Verdict Against Bayer (R.)

A juror who was part of a panel that delivered an $80 million award against Bayer AG after finding that its glyphosate-based weed killer Roundup caused a man’s cancer has urged the presiding judge to uphold the decision. A letter from the juror written on July 4 was posted to the court docket on Monday as part of legal filings by Bayer. The company accused the juror of bias and called on the judge to disregard the letter in his decision making. In the letter, the unidentified juror told U.S. District Judge Vince Chhabria in San Francisco that the $80 million in awards “were no accident” and the result of “meticulous planning” by the jury.


The letter was a response to statements by Chhabria during a court hearing last week, when the judge said he would have to reduce the $75 million punitive damages portion of the award on constitutional grounds. Following a four-week trial, a federal jury on March 27 awarded $5 million in compensatory and $75 million in punitive damages to Edwin Hardeman, who was diagnosed with non-Hodgkin’s lymphoma in 2014. U.S. Supreme Court rulings limit the ratio of punitive to compensatory damages to 9 to 1, which in this case would put the maximum for punitive damages at $45 million. In the letter, the juror said higher damages ratios were allowed in extraordinary cases, echoing arguments Hardeman’s lawyers made during Tuesday’s hearing, when they urged Chhabria to affirm the total award.

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Home Forums Debt Rattle July 9 2019

This topic contains 10 replies, has 6 voices, and was last updated by  zerosum 1 week ago.

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  • #48456

    Pablo Picasso Guernica [Study] III 1937   • Carnage At Deutsche Bank (Coppola) • Gold Is At A Historical Low (Von Greyerz) • Trump Hits Out At Ma
    [See the full post at: Debt Rattle July 9 2019]

    #48458

    John Day
    Participant

    http://www.johndayblog.com/2019/07/epstein-revisited.html
    With the Saturday arrest of billionaire financier Jeffrey Epstein on charges of sex-trafficking minors – days after a judge ordered that nearly 2,000 documents be made public following a 2017 court motion originally brought by filmmaker and author Mike Cernovich, the internet is once again abuzz with speculation over who exactly might be implicated by the new evidence.
    ​ ​Epstein pleaded guilty to one count of soliciting prostitution from a 14 year old girl in 2008 for which he served 13 months in jail in a sweetheart deal with the DOJ brokered by current Labor Secretary Alex Acosta. The sealed records appeal, meanwhile, stemmed from a separate 2015 defamation lawsuit in New York…
    ​ ​The case was settled in 2017 and the records were sealed – leading to an appeal by Cernovich, who was later joined by the Miami Herald and several other parties including lawyer Alan Dershowitz – who seeks to clear his name in connection with Epstein’s activities.
    ​ ​Epstein has spent the bulk of his adult life cultivating relationships with the worlds most powerful men. Flight logs show that from 2001 to 2003, Bill Clinton flew on Epsteins private plane, dubbed The Lolita Express by the press, 26 times. After Epsteins arrest in July 2006, federal tax records show Epstein donated $25,000 to the Clinton Foundation that year.
    ​ ​House Speaker Nancy Pelosi’s Superdelegate daughter Christine quipped on Twitter “It is quite likely that some of our faves are implicated but we must follow the facts and let the chips fall where they may.”​…
    ​ Following a 2018 financial settlement between Florida attorney Bradley Edwards – who represented one of Epstein’s accusers, only to be later sued by Epstein, Edwards claimed that Donald Trump was the ‘only person’ who provided assistance when Edwards served subpoenas and notices to high-profile individuals connected to Epstein.
    ​ ​Edwards: The only thing that I can say about President Trump is that he is the only person who, in 2009 when I served a lot of subpoenas on a lot of people, or at least gave notice to some pretty connected people, that I want to talk to them, is the only person who picked up the phone and said, let’s just talk. I’ll give you as much time as you want. I’ll tell you what you need to know, and was very helpful, in the information that he gave, and gave no indication whatsoever that he was involved in anything untoward whatsoever, but had good information. That checked out and that helped us and we didn’t have to take a deposition of him in 2009.​..
    ​ Trump “once barred child molester Jeffrey Epstein from his famed Mar-a-lago club after the presidential candidate caught him hitting on a young girl.”
    https://www.zerohedge.com/news/2019-07-07/trump-was-only-one-help-prosecutor-2009-epstein-case

    ​Tom Luongo​
    ​ ​I was cautiously optimistic that Trump would turn the corner on his presidency now that Mueller, impeachment and the rest of it would lift from his shoulders. His foreign policy maneuvers didn’t fill me with much, if any, confirmation of this hope.
    ​ ​But domestically signs were there that he had stabilized the battlefield.
    ​ ​Epstein’s arrest tells me he’s now out for blood.
    ​ ​Because this goes directly to the heart of the matter. Trump left the Clintons’ social circle in disgust and I’m convinced he ran to stop her corrupt sell out of the U.S.
    ​ ​Never forget that, while corruption is rampant in D.C., it is not all-pervasive. It’s not a black and white thing…
    ​…​This is more than just Hillary and Bill.
    ​ ​This is likely far deeper a rabbit hole than anyone in D.C. wants to admit. Don’t think for a second that Epstein hasn’t been blackmailing very prominent people for years.
    ​ ​Because he has. And they are all now scared to death.
    ​ ​And Robert Mueller is up to his neck in this. Because it was Mueller who helped Epstein mostly get off the hook the last time and had the court documents sealed.​..
    ​ When Nancy Pelosi’s daughter is out there signaling for her mother on this immediately, you know this is bad.
    ​ ​Pelosi doesn’t roll over for nothing folks. Think what you want about her but she’s a pitbull. And she rolled over on border wall funding last week.
    https://tomluongo.me/2019/07/08/epstein-arrest-peak-swamp/

    #48460

    Dr. D
    Participant

    “Barr Talks 2020 Citizenship Question, Recuses Self from Epstein Case (ZH)”

    It is fascinating that like the immigration/DACA decision, Obama can change it with an executive order, but an executive order cannot change it back. Some animals are more equal than others, I guess.

    You see how desperate the situation is when you have Nexium, a case with billionaire heiresses, high profile actors, bondage and sex slavery, and the media cannot cover it. Nope! Nothing saucy here to sell papers! Why are we going bankrupt again, losing 20,000 viewers a month? I dunno. The Russians I guess. Anyway, the only way the equal and/or greater case with Epstein, who has actors, congressmen, Presidents, and Lords in the biggest blackmail scheme in the west for the last 40 years, and the only way it can get reported is for Trump to hire one of the participants as Labor Secretary. We got those Duke boys this time, Roscoe! They’ll never escape now! Instead – and quite sadly – this is the only way Trump can engineer the media to cover the prostitution, rape, and mostly probably murder of hundreds of young girls, and considering his art collection, possibly even children. SMH. If that’s what it takes…get along then. Like Pelosi’s daughter, say if your favorites go down, Democrat or Republican, so be it. Fīat jūstitia ruat cælum

    “Didn’t Jim used to be a Democrat?”

    Not only that, he most probably is STILL a Democrat. The problem is, the party has left him. #WalkAway, except it’s the party doing the walking, or sprinting, to the left, straight into Mexico where they can campaign fervently with all non-citizens. Like Jim, Roseanne is also a lifelong Democrat from a family of Democrats, “I’m still the same,” Barr said. “You moved. You all went so f*ckin’ far out, you lost everybody.” That was in 2018, and they’re twice as far to the left now. You know, to capture all those potential voters in WI, MI, and PA. Strangely, not only him, but e.g.Tim Pool, Joe Rogan, and I think Ben Shapiro or somebody all would be 90s Clinton Democrats, i.e. moderate leftists. But what am I saying? Trump’s policy is the same as Bill Clinton’s (espoused) policy, and matched Obama’s (espoused) immigration policy of DACA amnesty and reform of immigration law, as Trump was a long Democrat, hailing from one of the most diverse and integrated cities in America, and a business Democrat that went to Clinton’s wedding. He was ahead of Clinton and Obama on gay marriage, that’s how far left Progressive he was. Now the party is so far to the horizon, being left of Kennedy makes you Hitler. They’d probably ban Mao for being too Conservative. Wish I were joking. At least Stalin and Mao did not call for the open abolition of their borders and state, handing that power to unelected billionaires like Zuckerberg. But I’m sure this is a winning platform in most states and they’ll do just fine in 2020.

    “How Syriza Let the Greek Right Escape the Dustbin of History (Varoufakis)”

    As above, you’ll have to tell me if any of this is even slightly true, since being to the right of Mao makes you Hitler. AfD for example is called Hitler and their platform has essentially nothing in common with any definition of “right”. But then, Hitler was from the National SOCIALIST party, a minor clue about who’s who and what being a Nazi really means. Being Hitler now just means you want to have a working government and a border with some rule of law. How gauche. All us schmartz-people know you don’t want any of that.

    “Almost Half of Brits are Stockpiling Food, Medicine and Clothes (BI)”

    Goodness, it’s about time! What does it take to get their attention? This is what happens when everyone thinks Our Lord and Savior Government will do everything for them. You get a right good screwing.

    “Russia’s RT and Sputnik Barred from UK Conference on Media Freedom (G.)”

    Barring the free press from media freedom. In a ‘free,’ ‘open’, ‘democratic’ country. Oh and amnesty for 200,000 asylum-seekers but none for Julian Assange. Yes, this is why satire is dead. Carry on.

    #48461

    zerosum
    Participant

    Umbrellas work.
    If you want to become rich, invest in a mfg of umbrellas.

    • Hong Kong Leader Carrie Lam: Extradition Bill ‘Is Dead’ (CNBC)

    The brits needs umbrellas.
    The Greeks need umbrellas.
    The French need yellow umbrellas to go with their yellow vests.

    #48462

    anticlimactic
    Participant

    GOLD

    “There is no reason why gold wouldn’t reach that level [$18k] in the next few years, especially as the gold paper market implodes”.

    I’ll believe it when I see it! All too often if you see an article claiming gold will soon be $5k or above it is just before the price gets smashed.

    The ‘paper market’ is COMEX. The rules are designed so that few can make any money from gold. In the recent spike in gold prices COMEX created over 8 million ounces of non-existent gold to ensure the price did not go too far, ensuring supply outstripped demand. A few years ago I believe that on COMEX 200 ounces of paper gold was backed by one ounce of physical gold. No idea what it is today.

    This suits China and Russia who are big buyers of physical gold so they want it as cheap as possible. The key player is China. Although the government claims to own 2100 tons of gold China did once import this amount in a single year, and is a massive importer and producer of gold, and may have been for decades.

    The change may come when China wants to create a gold backed Yuan, when it will need to declare the gold it actually owns. Speculation is 10,000 to 30,000 tons. This should cause the price of gold to rocket and possibly destroy the COMEX.

    The point of gold is not to create wealth, but to preserve wealth. The idea is that the amount of gold in a UK Sovereign would buy 200 loaves in ancient Rome, and would buy 200 loaves today. If the price of gold goes up it could be the fact that the value of the dollar has gone down. The ‘value’ in terms of goods might be the same.

    Beware that there are lots of ways to think you own gold when you don’t!

    #48463

    seychelles
    Participant

    • Gold Is At A Historical Low (Von Greyerz)

    The deafening recent chorus of beating drums chanting “buy gold” is a warning to run away fast and tightly clutch your liquid after-tax savings.

    #48464

    seychelles
    Participant

    Juror tells judge what the law actually says.

    But is it wise to assume that judge actually cares?

    #48466

    Dr. D
    Participant

    Apparently they haven’t threatened to kill the juror, yet. Seen this a few times with high cases, the judge suddenly sees the light, then is so rattled he takes a long overseas vacation, like an expensive African Safari. It doesn’t have to be him, mind, anyone in his family will do…so long as he doesn’t care about justice for them either.

    How long before the juror has a sudden change of heart, or gets real busy from the sudden death of a child?

    “The deafening recent chorus of beating drums chanting “buy gold” is a warning to run away”

    With Bitcoin on the other hand…

    BTC

    But that’s expected. The rise in gold to some illusion of fair market value IS the Global Financial Reset. That’s the LAST thing that happens, not the middle thing. You won’t miss it.

    #48467

    seychelles
    Participant

    Obama can change it with an executive order, but an executive order cannot change it back.

    Situational Moses re-enactment by a transient anointed God-like figure to stabilize a system of politico-economic power. Premeditated stinky underhanded bad faith ethics. Why should we agree to comply in good faith?

    #48468

    zerosum
    Participant

    I’ve always said, “I’m not that smart. If I thought of something then smarter and more informed people have thought of it before me.”

    How to get crude oil that you need and want at a cheap price …. (and keep everyone happy)

    https://www.zerohedge.com/news/2019-07-09/egypt-seizes-tanker-carrying-iranian-crude

    #48469

    zerosum
    Participant

    Do you think that Iran has ways of preventing Pump and run ?

    Pump and run occurs when the criminal pumps gas at a gas station and leaves without paying. Most gas stations require payment prior to filling your tank.

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