An Interview Worth Watching

cropped-bob-shapiro.jpg   By Bob Shapiro

Michael Pento is an stock market money manager who follows the Austrian School of Economics (as do I). For those of you unfamiliar with what that is, Austrian Economics is Free Market Economics, as opposed to Keynesianism and other names for Socialism.

Michael was interviewed recently, and I’d like to share the video with you. It’s one of the few lucid, straightforward pieces that I’ve seen recently. But, understand that some of what he says is scary, so if you have a bad ticker, you’d better take a pill before watching.

 

What “Exit Door?”

By Bill Holter – Re-Blogged From http://www.Gold-Eagle.com

Often times I like to write about an event or someone else’s article because of the importance to the overall picture.  Today I will do something a little different.  Below is an e-mail I received last Thursday from a friend.  I have the utmost respect for his thought process and his knowledge.  The writer is “plugged in” if you will, he has very high and powerful contacts in both China and London while he operates out of North America.  The following is chilling to say the least because it comes from someone who “knows”, it is not a speculation on his part because he is seeing it real time!  I will add my comments afterward.

I have been pounding the drum for some time about shrinking liquidity and what the impact will be. Well, I can tell you that we are almost there and a real crisis is developing far faster than what I envisioned that is impacting the 75 Trillion Shadow Banking sector which is on the verge of implosion. Focus on Europe as the real crunch will spread like a wildfire from there seizing up all credit markets.

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Don’t Push A Bad Position!

By Bill Holter – Re-Blogged From http://www.Gold-Eagle.com

“Don’t push a bad position”!  This is good advice in many varied quests.  It is good advice in games like chess or poker.  Also good advice in sports, business, politics, geopolitics and certainly in militarily ventures.  Today we will look at two separate issues where “bad positions” are being pushed to the wall!

First, we have an insane situation brewing in COMEX silver.  The open interest  finally exceeded 200,000 contracts (1 billion ounces).  I believe the only other time this much open interest existed was back in 1980 or ’81.  This makes no sense whatsoever, the price is again plumbing 4 year lows yet open interest has moved to record highs?  The fact open interest has expanded while price has declined is proof positive the “initiation” of this expanded open interest has been by “shorts” but absorbed by “someone” on the other side of the trade.  Total global production of silver is only 800 million ounces or thereabouts so COMEX shorts have contracted to deliver 25% more silver than will even be produced globally over the next 12 months.  Silver available for COMEX delivery only totals 57 million ounces so they sit on a naked short time bomb of more than 950 million ounces!

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We Are At A Similar Situation Where Japan Was Before 1989!

The markets are only “allowed” to go up! The more you control the less you are in control!

Why do I say that – because in Japan in the end of the eighties there was only one way and that was up till the bubble broke in 1989 and we all know what happened afterwards. The Japanese even didn’t have any put options until 1987 when the modern OTC equity derivatives market was born with the creation of put options that were linked to the performance of the Nikkei 225 Index and that came with debt instruments issued by Japanese companies. London banks

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Why Cash Will Be King

By Bill Bonner – Re-Blogged From http://www.Silver-Phoenix500.com

WHERE is that old and tattered “Crash Alert” flag? asks Bill Bonner in his Diary of a Rogue Economist.

Many times since the start of the rally in US stocks in 2009, we hoisted it. And many times has it failed to give us a useful signal.

But we will bring it out again, if a bit sheepishly…and let it wave, in the warm Argentine air.

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The US Is Lurching Towards Default

By Graham Summers – Re-Blogged From http://www.Gold-Eagle.com

The US is once again at its Debt Limit.

Despite all of the talk of cutting the deficit and the like, the political class continues to throw taxpayer money around at a pace that is bankrupting the nation. To wit: the US is set to hits its debt ceiling AGAIN on March 16 2015.

It’s remarkable that the first we hear of this is exactly one week before the date. You would think that the US hitting its debt limit would actually matter to the mainstream media and financial pundits since we’re already sporting a Debt to GDP ratio of over 100%.

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