Mar 17 12:12

Trump trade war SPIRALS: EU ready to PUNISH 200 brands as US threatened with tech tax

DONALD Trump has lashed out at European Union proposals to target US tech giants such as Google, Facebook and Apple with a digital tax in a bid to clamp down on avoidance as tensions over a potential trade war threaten to boil over.

Relations between Brussels and the White House have become strained over a raft of different issues ranging from proposed steel and aluminium tariffs to data protections and disagreement over the Iran nuclear deal.

Washington has been enraged by the European Commission’s publication of a draft list of US imports to be targeted for retaliatory tariffs, including Jack Daniels whisky and Harley Davidson motorbikes.

And a draft proposal suggesting the new “tech tax” would hit companies with an annual global turnover of more than €750m and total taxable revenues of €50m generated in the EU has done little to improve the transatlantic mood.

Mar 16 14:59

Left And Right Unite to Demand States Not Give Amazon Special Tax Breaks For New HQ

State governments are lining up to give the world's richest man, Jeff Bezos, billions in tax breaks for Amazon's second headquarters, but citizens across the ideological spectrum are uniting to demand the lunacy stop.

Mar 16 11:26

Americans Are Broke

Mar 16 10:46

When To HODL

Mar 16 10:20


Mar 16 09:55

Sears is Dead Meat Walking, after Horrid Holiday Quarter

Why is Sears’ CEO still touting “progress,” even in SEC filings? Why not tell investors the truth, for once?

Mar 16 09:46

It's Just Starting: Moody's Warns A Deluge Of Retail Bankruptcies Is Coming

2017 was a perfect storm for "brick and mortar" retailers who officially lost the war with Amazon, and no less than 30 retail chains filed for bankruptcy in a year in which the CEO of Urban Outfitters said the "retail bubble has now burst"...

Mar 16 09:45

China Dumps Treasurys As Foreigners Buy Near Record Stocks

Recent concerns about a Chinese liquidation of its Treasury holdings in advance of, or in response to, a trade war appeared to have been greatly exaggerated one month ago, because according to the Treasury International Capital data from one month ago, China had actually added $8.3 Billion to its holdings in December, bringing the total to $1184.9BN, $26 billion more than a year ago. Meanwhile, we reported that the real seller was Japan, which dumped $22.6 billion in TSYs, bringing its total to just over $1.061 trillion, the lowest since the start of 2012.

Fast forward to today when the "China is liquidating treasurys" narrative is set for a comeback, because according to the latest just released TIC data, in the first month of 2018, Chinese Treasury holdings declined by $16.7 billion (a number which recall is price adjusted), to $1.168 trillion, the lowest since July of 2017 and the biggest monthly drop since September.

Mar 16 09:24

Yield Curve Turns Threatening – Again

Mar 16 09:12

This Is Why The Central Bankers Are Worried About The Global Economy Collapsing

We are now seeing stores that have existed for 70 years completely disappear while thousands of people will be out of work. Congress is ready to roll back Dodd-Frank. Trump wants to replace NAFTA with Bi-lateral trade deals.

Mar 16 08:01

Inflation in Russia lower than America's for first time in history

Low inflation is not always good for the economy. However, for Russia, whose economy has been dominated by skyrocketing inflation after the collapse of the Soviet Union, it's a good sign.

Inflation in Russia now stands at 2.18 percent, and for the first time ever it is lower than US inflation, which is currently 2.2 percent. This is another record low for Russia. In 2017, consumer prices rose by only 2.5 percent. In 2016, there was 5.4 percent growth. Thus, inflation has more than halved in a matter of a couple of years.

Such low inflation is unprecedented for Russia. For almost a quarter of a century the economy has lived through much higher rates of consumer prices growth. In the 1990s there was hyperinflation typical for the poorest countries: 2,509 percent in 1992, 840 percent in 1993, and 215 percent in 1994.

Mar 16 07:16

Trump sets sight on SINKING Merkel's economy: US-EU trade war could spark CRISIS

Mar 16 07:09

BREAKING - GERMANY PANICS: Angela Merkel LOSES her cool over Trump tariffs as US takes aim

Mar 16 07:01

Has Europe really recovered from its 2008 financial meltdown?

The mainstream media, and the economic pundits it favors, are rejoicing in the idea that Europe is “back in business,” following a fallow decade. A quick glance at Spain’s numbers suggests this hope may be forlorn.
With the exception of Germany, unemployment in major European Union countries has not returned to pre-crisis levels. Spain and Greece still have Depression levels of unemployment. France and Italy still have very high unemployment, with Italy having only recently fallen below the worst levels it experienced between 1990 and the introduction of the euro.

Mar 16 06:28

Buy Silver And Sell Gold Now

The gold-silver ratio measures how many ounces of silver it takes to buy an ounce of gold. If the ratio is at, say, 75, then gold is 75 times the price of silver and it would take 75 ounces of silver to buy an ounce of gold.

Geologists seem to agree that there is somewhere around 15 times more silver in the Earth’s crust than gold. Gold is therefore 15 times rarer.

In theory, therefore, the gold-silver ratio should stand at 15 – gold should be 15 times the price of silver. And until the 20th century, that was mostly the case. Indeed, there are many examples of nations which operated under a bi-metallic standard – the USA until 1875 being perhaps the most famous – where the exchange rate between the two metals was 15, more or less.

However, in the 20th century, as money and metal went their separate ways, that ratio of 15 has become an ever-more distant memory. One day it will get there again, the most ardent of silver bugs will tell you.

Mar 16 03:49

Gold Bull Market in Waiting

Mar 15 18:11

Pump & dump? Crypto market crashes in suspiciously delayed reaction

The cryptocurrency market crashed on Thursday with bitcoin plunging to a five-week low. The broad sell-off followed Google's plan to ban cryptocurrency advertising the day before.


However, the Thursday’s fall in cryptocurrencies has shown that the market reacts on bearish news either belatedly or it acts independently from the news at all. There has been speculation that a small number of big investors are colluding on manipulating prices.

Under the so-called pump-and-dump strategy, a specific asset is pushed hard and investors are promised large returns. After prices peak, the owners and early investors quickly sell as many shares as possible, while the others lose. This is not illegal since the cryptocurrency market is not regulated.

Mar 15 15:43

Trump Suggests Withdrawing Troops From South Korea Over Trade Issues

President Trump’s Wednesday fundraiser in Missouri is raising eyebrows in the news, as he suggested to donors that he is considering withdrawing US troops from South Korea if he can’t get a better trade deal out of their government.

Trump didn’t go into tremendous details about whether this meant a full withdrawal or a drawdown, and a lot of analysts were very dismissive of the report, suggesting it was an empty threat and just a negotiating tactic.

Mar 15 14:23

Largest US Radio Company Files For Bankruptcy

On Thursday, iHeartMedia - the largest radio conglomerate in the US - finally succumbed to its enormous debt burden and filed for a long-anticipated Chapter 11 bankruptcy protection (iHeartMedia Inc., 18-31274, U.S. Bankruptcy Court, Southern District of Texas) after the company and a majority of its creditors reached an agreement for a prepack deal to eliminate tens of billions in debt while the company continues to operate.

After trying to negotiate a deal with creditors since last March, the company said in a statement that it had reached an agreement in principle with investors holding more than $10 billion of its debt, along with its private equity owners. The pact, intended to give the company a framework for a speedier reorganization, would cut iHeart’s debt by more than $10 billion, it said.

Mar 15 14:10

The Next Big Republican Spending Bill Is Packed With Liberal Priorities

Republicans may have majorities in the House and Senate, but the only group they seem to care about pleasing are the Dem minorities.

Mar 15 13:00

Google To Ban All Crypto Advertisements In June

Google is set to ban all cryptocurrency-related advertising starting in June 2018, according to a recent update to their Financial Services policy.

The news of a crypto ad ban comes just days after crypto advertisers using Google AdWords noticed a drastic drop in the number of views of their advertisements and decrease in revenue, according to posts on the AdWords support pages. However, Google AdWords had at that time denied any change in their Financial Services regulations that would block cryptocurrency or Initial Coin Offerings (ICOs) related advertisements.

Under Google’s newly updated Financial Services policy, no advertisements for “cryptocurrencies and related content (including but not limited to ICOs, foreign cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice),” will be allowed on the advertising network.

Mar 15 11:04

Generational Disaster: Debt-Laden Millennials Set Back By $140,000 Vs Their Parents

As ZeroHedge readers are doubtless aware, massive student loans have become an anchor around the necks of millions of young graduates - who are finding it increasingly difficult to break out from under the yoke of crippling debt.

Outstanding student debt has more than doubled since the 2009 lows alongside the world's biggest experiment in synthetic economic growth thanks to quantitative easing - standing at nearly $1.5 trillion.

And times are still "good" so to speak...

Mar 15 11:03

Gold Expert: ‘If Deep State Is pushed In A Corner Much Further, They Can Pull The Plug

Gold and silver expert David Morgan recently appeared in an interview with USA Watchdog‘s Greg Hunter. Morgan said point blank that “if the Deep State gets pushed into a corner much further, they can basically pull the plug,” and may just crash our economy.

Morgan explains why he thinks it is a great idea to have some physical gold and silver in your portfolio. “That means the stock market could come tumbling down, and then they [the deep state] could blame the Trump Administration,” said Morgan.

“If you are losing the chess game, you just get up and turn the table over and the pieces go flying everywhere. That is a metaphor for a war. That’s a metaphor for crashing the stock market. That’s a metaphor for crashing the bond market, and it’s a metaphor for it happening on its own. I am concerned that if you win, you lose. This is why the unraveling is being done extremely carefully,” he continued.

Mar 15 10:42

Peak Gold Has Arrived

Following the recent market crash, investors lost $5.2 trillion worldwide before the market managed to recover most of the losses. There are hints that certain bubbles are ready to burst as the worlds biggest hedge fund positions accordingly.

In addition to the stock market, the global gold supply is weakening, leaving investors anticipating higher prices. In 2017, the gold supply plummeted the most since any year since 2008. If the supply of gold is really plateauing, experts are predicting a 'peak gold' period.

Mar 15 10:40

Trump's Tariffs Could Start A Real War

Trump’s steel and aluminum tariffs may set his epitaph in stone… “Herbert Hoover II.”

History remembers Hoover as one of the worst American presidents.

Like Trump, he was a rich international businessman. He was also a political outsider. Hoover hadn’t held public office before his 1929 inauguration. And, like Trump, Hoover faced intense pressure from struggling American workers.

In 1930, he signed the Smoot-Hawley Tariff Act into law, raising tariffs on thousands of imported goods to record levels. This kicked off a tariff war, reducing American exports by half. It was a crushing blow to the American economy.

Nearly a century later, Trump seems determined to make the same mistakes…

Mar 15 10:40

Sound Familiar? Home Flipping In The US Hits 11-Year High

In a disturbing echo of the runup to the housing crisis, a recent study has revealed that the practice of flipping homes in the US is back in vogue - with the number of houses flipped rising to its highest level in 11 years.

If that doesn't spook residential real-estate speculators, we're not sure what would. Hundreds of thousands of American homebuyers have apparently forgotten how, 11 years ago, a Mexican immigrant working as a strawberry picker in Bakersfield, California, making $14,000 per year, was lent every single penny he needed to purchase a $720,000 home. And as crazy as that might sound, stories such as that were alarmingly common during the period before the 2008 housing crash (though, of course, few, if any, alarm bells actually went off).

Mar 15 10:34

*****What I have been afraid to blog about: THE ESF AND ITS HISTORY (Part 1-5)*****

It is impossible to understand the world today without knowing what the ESF is and what it has been doing. Officially in charge of defending the dollar, the ESF is the government agency which controls the New York Fed, runs the CIA's black budget, and is the architect of the world's monetary system (IMF, World Bank, etc). ESF financing (through the OSS and then the CIA) built up the worldwide propaganda network which has so badly distorted history today (including erasing awareness of its existence from popular consciousness). It has been directly involved in virtually every major US fraud/scandal since its creation in 1934: the London gold pool, the Kennedy assassinations, Iran-Contra, CIA drug trafficking, HIV, and worse...

Mar 15 09:44

Oklahoma Senate Approves Ball and Dice Games for Tribal Casinos

A bill meant to expand the types of games tribal casinos may offer passed through the Oklahoma Senate on Wednesday, but not without some questioning the need for it. Senate Bill 1195, authored by Senator Greg McCortney, expands the state’s compact with the Tribes to allow for dice games and roulette wheels, commonly known as ball and dice games.

SB 1195 is expected to generate about $22 million for the state.

Mar 15 09:32

Retail Sales, Fed Atlanta

Mar 15 09:26

Tons of gold pours from sky in Russia after plane hatch falls off

Gold bars worth millions of dollars have fallen out of a plane taking off from Russia’s Yakutia region, famous for its diamond deposits. Ruptly was one of the first to film the valuables inside the damaged jet after the incident.
Photos circulating on social media appear to show gold bars wrapped in material scattered on the runway at Yakutsk Airport, in the country’s major diamond-producing region. The precious metals fell from the Nimbus Airlines An-12 plane when its cargo hatch accidentally flew open upon takeoff, Russia’s Investigative Committee confirmed on Thursday.

Webmaster's Commentary: 


Mar 15 09:19

What Trump’s trade war could mean for you

Facing higher prices for foreign steel under the Trump tariffs, steel consumers have three options. They can absorb the cost and fire workers. They can absorb the cost and lower their profit margin. Or they can pass on the cost to customers.

Mar 15 08:51

Baker fined for 'working too hard' after keeping his business open seven days a week

A BAKER in France has been fined the equivalent of £2600 for "working too hard" for loyal customers who expect fresh bread every morning.

Cedric Vaivre, 41, received the punishment for keeping his business open seven days a week during the summer of 2017.

This broke strict employment laws in a country that still views a day of rest as being essential for everybody.

But those who rely on Mr Vaivre for their baguettes and croissants said it was ‘disgusting’ that he was being treated so shoddily.

Mar 15 08:39

Italy’s Financial System Will COLLAPSE and the ECB and EU Will Rule the Nation!

Mar 15 08:15

Clinton Donor, Obama Entrepreneurship Ambassador Charged With Massive Fraud

Elizabeth Holmes, a Clinton donor who was named a Presidential Ambassador for Global Entrepreneurship under former President Barack Obama, has settled with the Securities and Exchange Commission after being charged with "massive fraud" on Wednesday.

Holmes, 34, was the founder and CEO of Theranos, a privately owned Silicon Valley health tech company once valued at $9 billion. The SEC alleges the company deceived investors when raising more than $700 million from late 2013 to 2015, and as a result, Holmes will pay a $500,000 fine and be barred from serving as a director or officer of a public company for 10 years, according to CNBC.

Mar 15 08:01

It Is Now Abundantly Clear Why Steve Mnuchin Didn't Want People to See This Video

Treasury Secretary and former Goldman Sachs banker Steve Mnuchin tried to suppress video footage of his appearance at UCLA last month, and now that the video has finally been made public, it is abundantly clear why.

Invited to discuss the GOP tax bill he helped craft and the White House's broader economic agenda, Mnuchin was repeatedly interrupted by students and other event attendees, who deployed a mixture of protest tactics to express displeasure at the Trump administration's policies—tactics that ranged from coughing and hissing loudly to yelling out that the treasury chief is "full of shit."

You have to watch to get a complete sense of Mnuchin's growing agitation and confusion in the face of dissent against the Trump administration's corporate agenda.

Mar 15 02:43

Are We Close to the End of the Credit Cycle?

Mar 14 15:05

The 25 Countries With the Most Billionaires

Mar 14 14:14

Trade War: US Launches WTO Challenge Of Indian Export Subsidies

While we await the announcement of the trade war nuke - namely tariffs against China - moments ago the US Trade Representative announced the launch of a WTO challenge to Indian export subsidy programs, in the latest global trade skirmish which is likely to grow into something far bigger.

Mar 14 14:11

Real earnings, Saudi output and pricing

Mar 14 13:25

WTF just happened in a little under a month?

Mar 14 12:32


“We have, I would say, probably the best relationships right now with Israel that we have ever had…We are very close on trade deals. We are very, very close on military and terrorism, and all the things we have to work together on. So the relationship has never been better.”

President Donald Trump greeting Benjamin Netanyahu, March 5th, 2018

Mar 14 12:14

Here Comes The Main Event: Trade War With China, And What Is Section 301

The recently announced global steel and aluminum tariffs (with various exemptions) by the Trump administration were just a (Section 232) preview of the main event: Trump's imminent trade war with China, which as Credit Suisse previews, will be unveiled any moment in the form of tariffs and restrictions on trade with China, reportedly in retaliation for Chinese IP violations.

First, a reminder on the all-important Section 301:

Webmaster's Commentary: 

Mr. President, a word, please: with your desperately needing Beijing to be handholding Kim Jung Un in preparation for your talks with him before May of this year, the timing - and optics - of creating such tarriffs could possibly be worse, but I cannot tell you how.

Mar 14 11:09

Verizon Forced to Repair Broadband Infrastructure It Has Literally Let Fall Apart

A new settlement requires Verizon to replace bad cable, defective equipment, and faulty back-up batteries

Webmaster's Commentary: 

We have the same problem with Spectrum. We pay for 300 mbps service but only get 60 mbps. When I complain, they insist it must be something wrong with my equipment.

Mar 14 10:47

Trump: Want Tariffs Raised, Canada? Re-Negotiate NAFTA!

President Trump already said that there could be no exemptions to his steel and aluminum import tariffs, lest every country in the world come crawling after the exemption – but he said this week there might be a way for Canada and Mexico to get a special deal.

“Tariffs on steel and aluminum will only come off if new & fair NAFTA agreement is signed,” Trump tweeted on Monday. “We have large trade deficits with Mexico and Canada. NAFTA, which is under renegotiation right now, has been a bad deal for U.S.A. Massive relocation of companies & jobs. Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed.

“Also,” he continued, “Canada must treat our farmers much better. Highly restrictive. Mexico must do much more on stopping drugs from pouring into the U.S. They have not done what needs to be done. Millions of people addicted and dying.”