Category: Markets

Markets

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450 On The S&P, Sub-1% 10 Year, And $10,000 Gold – Albert Edwards

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It has been a while since Albert Edwards updated the world on his macro and market thoughts. He finally does so today with a tour de force on the crash in the emerging markets, which for him exposes the “idiocy of one of the key investment themes since the 2008 Great Recession – namely that […]

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Financial and Economic Meltdown Coming?!

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By: DeepCaster_LLC “Our estimates of prospective risk are surging… “At present, we have what might best be characterized as a broken speculative peak, in that market internals (particularly interest-sensitive groups), breadth and leadership have broken down uniformly following an extreme overvalued, overbought, overbullish syndrome. “If you recall, the market also recovered to new highs in October […]

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The Dow 30 Stock Market Index is the Greatest of All Ponzi Schemes

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Beware: The Dow 30’s Performance is Being Manipulated! The Dow Jones Industrial Average (DJIA) Index – the oldest stock exchange in the U.S. and most influential in the world – consists of 30 companies and has an extremely interesting and distressing history regarding its beginnings, transformation and structural development which has all the trappings of […]

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When “QE Infinity” Turns Into A Pipedream: Hot Money Evaporates, Rout Follows – See Emerging Markets

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Wolf Richter   www.testosteronepit.com   www.amazon.com/author/wolfrichter Printing money and forcing interest rates to near zero, that’s how the Fed and other central banks papered over the Financial Crisis, duct-taped the bursting credit bubble back together, inflated new asset bubbles, and propped up TBTF banks. And in so doing, they accomplished a huge feat: a worldwide tsunami of hot money. […]

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End Of The Great Market Illusion

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A series of data which normally would be considered anomalous is growing at such an accelerated rate, it’s no longer ‘black swan’ data; now the flock seems to be all black and it’s flying north for the winter. Take a look at the following chart showing Consolidated Foreign Transactions in Long Term US Assets: (click […]

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A Stunning 60% Of All Home Purchases Are “Cash Only” – A 200% Jump In Five Years

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Remember when housing was the primary aspirational asset for a still existent US middle class, to be purchased with some equity down by your average 30 year-old hoping to start a family in his or her brand new home, and, as the name implies, aspire to reach the American dream? Those days are long gone. […]

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This Is The Biggest Cluster Of Hindenburg Omens Since The Last Stock Market Crash

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Are we heading for a major stock market decline?  Warnings about a crash of the financial markets are quite common these days, and usually they don’t materialize.  But this time may be different.  A number of top analysts are pointing out the fact that the biggest cluster of “Hindenburg Omens” has appeared since the last […]

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G20 Showdown On Dollar Hegemony

Elite Forex Blog - Market Research & Analysis
Obama canceled his scheduled meeting with Russian President Vladimir Putin last week. Although Obama didn’t give his reason for the cancellation, the media stoogery speculated it was because of Russia’s protection of whistleblower-patriot Edward Snowden. What is not being reported is that Russia has been warning its citizens and institutions since last March’s Cyprus bail-in to divest assets out of western banks.
Additionally, last week Yao Yudong of the PBoC’s monetary policy committee called for a new Bretton Woods system to strengthen the management of global liquidity. In an article in the China Securities Journal, Yao called for more power to the IMF as international cooperation and supervision are needed.
Because of the U.S. dollar hegemony, the lion’s share of all global dollar-denominated transactions pass through the New York. This includes those that have absolutely nothing to do with the U.S. In turn, these transactions are monitored by the New York State Department of Financial Services, which was created in 2011. This agency plays a special role in the exposure of bank and company wrongdoers, real or imagined.  Around 4,500 organizations, with assets of $6.2 trillion, are under the direct control of this agency.
This circumstance, the unnecessary power and the unlimited surveillance/invasion of privacy are powerful incentives for non-U.S. banks and companies to replace the U.S. dollar with the currencies of other countries when making international payments, while at the same time creating their own regional systems of international payments.
Thus, recent Western self-inflicted wounds have opened the Pandora’s box for China and Russia as well as other BRIC nations to pressure hard for non-dollar settlement of trade, and in particular oil. I submit that this agenda and the G20 meeting Sept. 5-6 is the venue for this to be revealed. THAT should be the real concern for the U.S., and it ties direct into my earlier article, China Maneuvers to take Away US’ Dominant Reserve Currency Status. 
As far as the timing, there are just too many coincidences happening on the gold and other fronts to assume the yellow metal does not play a role here. Is it a coincidence that JP Morgan has literally cornered the gold market [see Banker’s Participation Report].
The Shanghai Gold Exchange has had deliveries equal to the world’s production for months straight.
The Comex registered gold is only at a mere 2% of open interest.
Chart source: Garrett Goggin
Is it a coincidence that GOFO has been negative for 25 straight days, and gold in backwardization?
Is it a coincidence that the stock market witnessed four Hindenberg Omens in the last week?
The end of Dollar hegemony is going to be a “gap” game-changer. 
*Gold Forward Offered Rates:
When it is negative, you will receive more interest when you lease your gold than your dollars. Primarily it means that gold leased out today is worth more than the gold delivered at the end of the three months.
The negative GOFO rate means someone wants to get their hands on gold.  There is speculation that the elevated high levels of demand we’re seeing in Asia has emptied the London Market.
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