Italy Experiences the Coldest September in 50 Years

Over the past weekend, temperatures in Italy plunged suddenly by between 10 and 15 degrees, resulting in the country’s coldest September in 50 years  and leading to snowfalls much earlier than usual, Italian media reports.

The cold has been particularly intense in Milan and Turin which recorded 5°C and 4°C degrees respectively on the night of Sunday 27 September.

GFS surface temperature for Sunday 27 September- purple is coldest

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Are Lockdowns Necessary? What Data From 10 Countries Show

A new Heritage Foundation special report analyzes the COVID-19 responses of 10 countries, with varying levels of economic freedom, to better understand which policies might have been more effective than others.

Here’s what the report found.

The 10 countries we studied have taken vastly different approaches to handling COVID-19 with varying degrees of success.

The evidence suggests that full lockdowns, such as those implemented in Italy and Norway, are not as effective as the more targeted approaches taken in other countries, such as in South Korea and Iceland.

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A Can Too Big For The Fed And ECB

There are lies, damned lies, and economists. Whether these economists work for the government or a bank, they spend all their time on the computer extrapolating current trends with minor adjustments.

If you want to understand the future, don’t spend your life preparing and constantly revising an Excel sheet with masses of economic data. Collective human behaviour is extremely predictable. But not by spreadsheet analysis but by studying history.

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A Massive GOLD Bull Market Is Building

Imagine, if you will, there was no coronavirus. No haz-mat suits, medical masks & gloves, no make-shift morgues. No terminally ill patients hooked up to ventilators, no horrible deaths without love ones close, no lockdowns, no social distancing, no deserted streets, no bailouts, no emergency wage supplements, just a regular spring with birds chirping and flowers blooming.

Of course there is no getting away from the covid-19 pandemic that has slammed into populations and economies like a “God of chaos” comet. It seems to have permeated civilization, threatening lives, livelihoods, and the way we conduct ourselves professionally and socially.

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The Chinese-virus lockdowns that have done their job

By Christopher Monckton of Brenchley – Re-Blogged From WUWT

In Italy and Spain, two of Europe’s hardest-hit nations, the compound daily growth rates in cumulative cases of Chinese-virus infection have fallen to 2.8% and 3.4% respectively. The lockdowns in these two countries are, for the first time, being eased.

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Fig. 1. Mean compound daily growth rates in confirmed cases of COVID-19 infection for the world excluding China (red) and for several individual nations averaged over the successive seven-day periods ending on all dates from March 28 to April 12, 2020. A link to the high-definition PowerPoint slides is at the end of this posting.

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The Italian Connection

By Willis Eschenbach [Note updates at the end] – Re-Blogged From WUWT

Since the earliest days of the current pandemic, Italy has been the scary member of the family that you absolutely don’t want to emulate, the one cousin that gets into really bad trouble. The Italians have the highest rate of deaths from the COVID-19 coronavirus, and their numbers continue to climb. Here’s the situation today.

Figure 1. Deaths from the COVID-19 coronavirus expressed as deaths per ten million of the country population. Percentages of the total population are shown at the right in blue. All countries are aligned at the date of their first reported death. Most recent daily chart and charts of previous days are available by going here and scrolling down.

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The Demise Of The Financial System Is Imminent

By Egon von Greyerz – Re-Blogged From Gold Eagle

“Next five years is not about winning but surviving.” This is the headline of an article I wrote in early August 2019. At that point I was primarily thinking of economic survival. But now the world is facing multiple threats and multiple failures. As I have already stated, the Coronavirus is not the cause of global market crashes but the catalyst.

But even if I have been totally certain that the world will see an economic collapse greater than any crisis for 100s of years, this is the worst catalyst that anyone could have expected. Yes, a global virus was always one of the potential risks but of all triggers, this one was certainly the most unwelcome and horrible.

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Will Brexit And Coronavirus End The EU?

By Alasdair Macleod – Re-Blogged From Gold Eagle

The EU and euro face a sudden deterioration in economic conditions due to the coronavirus, which seems certain to widen the differences between Germany and the spendthrift Mediterranean members. But a more immediate problem is the increasing likelihood that the ECB will lose control over financial asset prices, particularly those of government bonds.

In the short-term, it seems likely the euro will rise against the dollar as currency and financial distortions, principally in the fx swap market, are unwound. However, the eurozone faces a developing financial crisis comprised of the following elements: a collapse in economic activity, escalating payment failures, a drastic contraction of bank credit and a collapse in bond prices, as well as the medium used to buy them (the euro).

Eventually, Germany is could go it alone by introducing a gold-backed mark, which will only happen after the European Project is finally abandoned.

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This Team Wants to Capture Unlimited Energy From Inside the Earth

Digging In

In central Italy, a team of scientists dug a well two miles deep in search of a functionally-unlimited supply of clean energy.

If the group of Italian and Swiss geologists manages to get a little bit deeper and reach the K horizon — the depth at which they expect to find reservoirs of highly-pressurized fluids — they would be able to tap into what Wired describes as “one of the most energy-dense forms of renewable power in the world.”

The trick, however, is digging that deep without triggering a massive earthquake along the way.

Anti-Zionism vs Anti Semitism

It’s one thing to criticize Israel. It’s another thing entirely to be against the very existence of the Jewish state. In this clarifying video, Dennis Prager defines the difference and explains why anti-Zionism and anti-Semitism are one and the same.

Please watch the VIDEO

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Is Turkey The Snowflake That Unleashes The European Banking System Avalanche?

By Mark O’Byrne – Re-Blogged From Gold Eagle

Italy Is Latest Country Seeking To Bring Their People’s Gold Home

By Mark O’Byrne – Re-Blogged From Gold Eagle

Gold Is A “Reserve Of Safety” – Mario Draghi

By Virginia Filder for Gold Telegraph

European Central Bank’s President Mario Draghi recently announced that the ECB would be required to approve any management of gold reserves within the euro zone countries.

The statement was specifically directed at two Italian members. Why was Italy singled out?

EU Monetary And Economic Failures

By Alasdair Macleod – Re-Blogged From Gold Eagle

Introduction and summary

The monetary, financial and political weaknesses of the EU are about to be exposed by the forthcoming global credit crisis.

This article assumes the combination of end of credit cycle dynamics and the rise in trade protectionism in 1929 is a valid precedent for gauging the scale of a developing global credit crisis today, as described in my earlier article published here. Then, it was heavier tariffs coinciding with a less destabilising inflation cycle than we face today, a combination that saw stock markets collapse. Today, we have the additional factors of far greater monetary inflation, far higher levels of government debt, low savings coupled with record consumer borrowing, and unbacked fiat currencies likely to lose purchasing power instead of gold-backed currencies which increased their purchasing power.

Declining international trade has already become evident in only a few months, and prescient observers detect early signs of a rapidly developing global recession. In response, the ECB has announced it will target lending to non-financial businesses with its TLTRO-III programme from September onwards.

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ITALEXIT: Italy’s Debt Crisis

By Mark O’Byrne – Re-Blogged From Gold Eagle

ITALEXIT: Italy to crash out of Euro and ‘rock EU to its foundations’
– Italy’s debt crisis will lead to default, exit from the euro, or both claims respected economist Bootle
– Italy has fallen back into recession with its economy shrinking by 0.2% in the last quarter
– “When Italy finally blows up, it will cause both a banking crisis that will shake the European economy and a political crisis that will rock the EU to its foundations”

by Roger Bootle of Capital Economics in the  Daily Telegraph

Last week’s data showing a drop in Italian GDP in Q4 of last year confirmed what many observers had already suspected: Italy is in recession.

Or rather, in another recession, for this follows similar phases in 2008, 2011 and 2012.

Where is this going to end?

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Making Italy Great Again

By Peter Schiff – Re-Blogged From Euro Pacific Capital

This week, market watchers around the world are justifiably fixated with the high-stakes, high-drama political developments unfolding in Italy. While a political crisis in the world’s 9th largest economy (International Monetary Fund figures, 4/17/18) would normally not be enough to cause an international meltdown, given how thin the global economic ice has become as a result of ever-increasing debt loads, even small disruptions can create systemic problems. But from my perspective, what makes the Italian drama so interesting is that it parallels so precisely developments in the United States. It’s amazing that more Americans do not realize, that when looking at Italy, they are looking at a fun house mirror reflection of the United States.

Italy is currently dealing with the results of an election in which populist political forces scored a big victory over the establishment, which they had judged to be both corrupt and ineffective. In other words, the Italians replayed the 2016 Presidential election in the U.S. The big difference is that here the anti-immigrant tendencies of the right and the economic populism of the left were united in one person: Donald Trump. In Italy, those positions are represented by two separate parties that normally would be rivals. But politics can make very strange bedfellows, and the absurdity of the current economic reality has made them partners.

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If You Could Design A Perfect World For Gold…

By John Rubino – Re-Blogged From Dollar Collapse

Are you sick of your gold just sitting there when it was supposed to have long since made you rich? Have you been fantasizing about a world in which your gold really does make you rich?

If so you’re in good – or at least numerous – company.

So let’s sketch out such a world.

Start by envisioning an America in which a handful of oligopolies have captured banking, media, healthcare and several other important industries, while a tiny group of super-rich neo-aristocrats control as much wealth as the 200 million least-rich citizens.

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The Tragedy Of The Euro

By Alasdair Macleod – Re-Blogged From Silver Phoenix

After two decades, the euro’s minders look set to drive the Eurozone into deep trouble. December was the last month of the ECB’s monthly purchases of government debt. A softening global economy will increase government deficits unexpectedly. The consequence will be a new cycle of sharply rising bond yields for the weakest Eurozone members, and systemically destabilising losses in the bond portfolios owned by Eurozone banks

The blame-game

It’s the twentieth anniversary of the euro’s existence, and far from being celebrated it is being blamed for many, if not all of the Eurozone’s ills.

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Italy Proposes €6000 (US $6800) Vehicle Sales Tax to Subsidise Green Electric Vehicles

By Eric Worrall – Re-Blogged From WUWT

h/t Dr Willie Soon / Steve Milloy – the Italian government has proposed plans to subsidise sales of electric cars, by taxing sales of gasoline and diesel cars.

Italy proposes measures to spur sales of low-emission cars

MILAN/ROME (Reuters) – Italy plans to offer subsidies of up to 6,000 euros ($6,800) to buyers of new low emission vehicles and will increase taxes on new petrol and diesel cars, two government officials said on Wednesday.

Concerns over climate change are pushing European lawmakers to tighten emissions regulations, but the car industry says that would harm its competitiveness.

RomeThe Imperial fora belongs to a series of monumental fora (public squares) constructed in Rome by the emperors. Also in the image can be seen the Trajan’s Market. By Rabax63Own work, CC BY-SA 4.0, Link
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Interview With Michael Pento

By Greg Hunter – Re-Blogged From Silver Phoenix

Money manager Michael Pento says things are going to get much worse from here. Pento explains, “They understand when the stock market goes down, consumption and the wealth effect crumble, and the economy is going to falter.

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EU Recession Imminent – Euro Disunion As Brexit, Italy And End Of QE Loom

By John Mauldin – Re-Blogged From Gold Eagle

Someone asked recently how many times I had “crossed the pond” to Europe. I really don’t know. Certainly dozens of times. It’s been several times a year for as long as I remember.

That makes me an extremely unusual American. Most of us never visit Europe, except maybe for a rare dream vacation. And that’s okay because our own country is wonderful and has a lifetime of sights to see. But it does affect our perspective on the world.


Graphic: European Central Bank

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Big Short’s Eisman Is Shorting U.K. Banks On Brexit

By Mark O’Byrne – Re-Blogged From Silver Phoenix

Eisman says U.K. is one of the biggest risks globally

– He is betting against two UK banks in the lead up to Brexit – Eisman may short 50 other UK firms if “Trotskyite” Corbyn becomes UK PM – Eisman is famous for betting against the US housing market ahead of the 2008 subprime-mortgage crisis

by Business Insider UK

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After Germany’s Merkel Comes Chaos

By John Rubino – Re-Blogged From Dollar Collapse

After a long, initially-successful run promoting European integration and mass immigration, German Chancellor Angela Merkel saw the bottom fall out of her political fortunes this year. This morning she stepped down as leader of the formerly-dominant Christian Democrat party and promised not run again when her term as Chancellor ends in 2021.

What happens next is almost certain to be chaotic, as the following chart (courtesy of this morning’s Wall Street Journal) makes clear:

German political parties Merkel

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Why The Market Crash Is Just Beginning

By Michael Pento – Re-Blogged From Silver Phoenix

Wall Street’s playbook stipulates that every down tick in the market is just another buying opportunity. While that is most often true, peak margins, a slowing global economy and the bond bubble collapse makes this time more like 2008 than just a routine selloff.

In the vanguard of this coming market crash is China, whose make-pretend growth rate slid to 6.5% in the third quarter. This is the slowest pace of growth that the communist government has been willing to own up to since the last global financial crisis. Leaving one to conclude that the reality in China is far worse.

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Rome vs Brussels

By Arkadiusz Sieron – Re-Blogged From Gold Eagle

Only one digit has changed. But it may have profound consequences, sending the country closer to junk status. Meanwhile, Rome and Brussels clash over budget plan. Will that duel benefit or harm the yellow metal?

Only One Notch Above Being Junk

Italian drama continues. On Friday, Moody’s, one of the most significant rating agencies in the world, downgraded the Italian credit rating from Baa2 to Baa3. It means that Italy’s local and foreign-currency bonds are now only one notch above junk territory. The move was not surprising, as well as the reasons behind this decision:

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Inflation Target Regrets

By Michael Pento – Re-Blogged From Silver Phoenix

Beginning this fall, and continuing throughout 2019, the stock market’s performance should be vastly different from what has occurred during the prior few years. Indeed, the huge reconciliation of stock prices is arriving now.

The primary reason behind this is the watershed change in global central banks’ monetary policies. For years central banks had been keeping rates near 0%, or below, and at the same time printing over a hundred billion dollars’ worth of fiat currencies each and every month to purchase bonds and stocks. That is all changing now. According to Capital Economics, fourteen major global central banks are either in the process right now, or have indicated that they be will next year, in the process of raising interest rates. At the same time, QE on a global net basis will plunge from $180 billion per month at its peak during 2017, to $0 by December…and will then go negative in 2019.

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Does Gold Speak Italian?

By Arkadiusz Sieron – Re-Blogged From Gold Eagle

Is Italy the new Greece? Read today’s article and find out what does the newest Italian turmoil imply for the gold market.

The recent days have been quite tumultuous in Italy. The turmoil started last week when the new government submitted its spending plans to the EU. The ruling coalition set Italy’s budget deficit at 2.4 percent of its GDP. The number is much higher than the current deficit which is set to be 1.5 percent of the GDP. The proposed difference between spending and revenue is also higher than 1.6 percent proposed by the country’s finance minister Giovanni Tria. So the number was above the expectations. Actually, it came as a shock, especially that the International Monetary Fund has projected it to fall to 0.9 per cent in 2019. Well, nobody expected the Italian inquisition.

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Italy Calls Europe’s Bluff, And The Euro Loses Either Way

By John Rubino – Re-Blogged From Gold Eagle

When Italy elected a bunch of rowdy populists back in March, the rest of the eurozone assumed (or at least hoped) that the weight of responsibility would bring Rome back into line. But so far the Italians appear to be serious about ending austerity and forcing the ECB to finance their spending ambitions. The just-passed Italian budget calls for a rising deficit, in direct disobedience of Continental (read German) authorities.

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Italy’s Interior Minister Begins Deporting Migrants

By Robert Spencer – Re-Blogged From Freedom Outpost

Salvini is right, but he will be excoriated as a “racist” anyway.

The political and media elites expect, and indeed demand, that the countries of the West commit national suicide.

Anything short of that is “racist” and “neo-Nazi.”

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Is The Interest Rate Death Spiral Finally Starting?

By John Rubino – Re-Blogged From Dollar Collapse

The yield on Italy’s 10-year bond is up by about 100 basis points from its 2018 low. Meanwhile, its government continues to borrow money and roll over its existing debt. But now it has to do so at ever-higher interest rates, which means it has to pay more interest, which means its deficits are rising, forcing it to borrow even more money, and so on until this “interest rate death spiral” becomes fatal.

It would already be fatal, if not for the European Central Bank’s willingness to buy Italy’s bonds at extremely favorable prices (i.e., very low interest rates). But now the ECB is promising to stop doing that, which leaves Italy in the early stages of a very negative feedback loop.

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Italian Debt – A Financial Disaster Waiting To Happen

By Mark O’Byrne – Re-Blogged From http://www.Silver-Phoenix500.com

The new Italian government will increase public spending and public debt.

It promised to reduce taxes, introduce basic security and reform pensions. Italy’s Northern League’s leader Mateo Salvini surged in the polls and the party is now the strongest in Italy.

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Why The Global Collapse Will Be Devastating

By Egon von Greyerz – Re-Blogged From King World News

As the world edges closer to the next crisis, today the man who has become legendary for his predictions on QE and historic moves in currencies, told King World News there is no way out and this is why the global collapse will be devastating.

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Will Italy Sink The EU And Boost Gold?

By Arkadiusz Sieron – Re-Blogged From http://www.Gold-Eagle.com

The recent growth acceleration in the EU could distract attention from problems of the common bloc. Fortunately, you can always count on Italy. Whenever you start thinking that only bright future is ahead of the union, the descendants of the proud Romans remind about themselves. Indeed, Italy focuses three major EU’s problems like in a lens. What are they and how could they affect the gold market?

First, populism. As you remember, Italians held general elections in March. As we reported then, the populist party founded by comedian Beppe Grillo won about one-third of the votes. Since then, the Five Star Movement and League, the two biggest parties in the new parliament, have been negotiating to form a new government. In May, they finally published a contract for their shared platform.

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2018 Third-Quarter Forecast

Re-Blogged From Stratfor

Table of Contents

(ALY SONG-POL/JOHANNES EISELE/HULTON ARCHIVE/MLADEN ANTONOV/TIMOTHY A. CLARY/ABID KATIB/KATJA BUCHHOLZ/DAVID MCNEW/ATTA KENARE/FOverview

China Remains in the U.S. Crosshairs. The United States will impose tariffs, sanctions and blocks on investment and research in a bid to frustrate China’s development of strategic technologies. China not only has the tools to manage the economic blow, but will also accelerate efforts to lessen its reliance on foreign-sourced technological components.

Trade Battles Fall Short of a Full-Fledged War. Trade frictions will remain high this quarter as the White House continues on an economic warpath in the name of national security. U.S. tariffs will invite countermeasures from trading partners targeting U.S. agricultural and industrial goods. As Congress attempts to reclaim trade authority, the White House will refrain from escalating these trade battles into an all-out trade war.

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Failed States, Part 1: Hopeless European Millennials And The Populist Takeover

By John Rubino – Re-Blogged From Dollar Collapse

Europe is frequently held up as an example of how the rest of the world should behave on a variety of issues. But this comparison misses at least two things: First, “Europe” is actually a lot of different countries in a lot of different situations. Second, much of what seems to work over there only does so because it’s being financed with ever-increasing amounts of debt.

For countries, as for individuals, borrowing money is fun at first but beyond a certain point becomes debilitating, as interest payments begin to crowd out everything else. That’s where a growing number of Europe’s failed states now find themselves, with overly-generous pensions and overly-restrictive labor laws making it virtually impossible to run a functioning market-based economy.

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Chairman for People and Arrogant Eurocrat

arkadiusz-sieron   By Arkadiusz Sieron – Re-Blogged From Sunshine Profits 

Two of the most powerful men in the world. Trump? Putin? Xi? Nah. Chairman Jerome Powell and President Mario Draghi. Let’s analyze their recent press conferences!

Powell – Chairman for People

In the last edition of the Gold New Monitor, we promised that we will elaborate on the Powell’s and Draghi’s press conferences. It’s high time we fulfilled the promise.

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Return of the Euro Crisis: Italy Quakes, Rest of the World Shakes and Merkel’s Empire Breaks

By David Haggith – Re-Blogged From Great Recession Blog

Europe’s many fault lines are spreading once again, bringing the endless euro crisis saga back in 3-D realism. Italy gained a new anti-establishment government last week, even as Spain elected a new Socialista government that could crack Catalonia off from the rest of Spain. All of Europe fell under Trumpian trade-war sanctions and threatened their own retaliation. And Germany’s most titanic bank got downgraded to the bottom of the junk-bond B-bin.

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The Gently Rotting Debt-Ridden EU

By Alasdair Macleod – Re-Blogged From http://www.Gold-Eagle.com

The EU (Euro Union) as a political construction is in a state of terminal decay. We know this for one reason and one reason alone: its core principal is the state is superior to its people. A system of government can only work over the longer term if it recognises that it is the servant of the people, not its master. It matters not what electoral system is in place, so long as this principal is adhered to.

The EU executive in Brussels does not accept electoral primacy. It shares with Marxist communism a belief in statist primacy instead. The only difference between the two creeds is Marx planned to rule the world, while Brussels is on the way to ruling Europe.

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Two Key Future Events

By Jim Willie – Re-Blogged From http://www.Gold-Eagle.com

TIMBER!! That is the standard cry in the forest industry among loggers who cut down giant trees, the warning to step aside for the great impact. GET READY FOR THE SIMULTANEOUS BANKING CRISIS IN THE THREE BIGGEST EUROPEAN ECONOMIES: GERMANY, FRANCE, ITALY. The United States and the London Centre will not be able to avoid the crisis.

Try that again. TIMBERRRR !! An event of monumental importance and impact is on the verge of occurrence. The largest bank in Europe is Deutsche Bank. Its credit default swap is rising in cost, while its stock price has entered single digits in a powerful decline. The great D-Bank, site of the European office in management of the multi-$trillion derivatives, is on the verge of financial failure. It is the largest bank in all of Europe. All of its business segments are impaired and losing money in a hemorrhage. Furthermore, it is a big bond holder for Italian Govt Bonds. The Italian banking system is in the death throes, which has finally been recognized. Their recent elections openly debated pathways in the face of banking system failure, which the Jackass has been expecting for over a year in steady coverage with analysis. However, the bigger bond holder for Italian debt is France. Expect a massive bank crisis to emerge very soon that wrecks Societe General and BNP Paribas, its two largest banks.

Back in 2016, the Hat Trick Letter warned of very high Non-Performing Loans among the Italian banks. The HTLetter warned of rising government bond credit defaults swap rates. It is the insurance rate on a standard government bond, in coverage for default of the bond. It was this CDSwap rising rate which warned at least three months in advance of the Lehman Brothers failure (killjob by JPM and GSax). But the contagion for the Italian banking failure is the main point. Notice that back two years ago, the French big banks had triple the size of exposure to Italian debt, versus the German banks. The Spanish and US banks will also suffer from the impact. The graph below is from July 2016.

GLOBAL CURRENCY RESET

The Global Currency RESET has begun, hardly with fanfare and parades, or even formal public statements by the main players. Many are the events and steps toward the planning and execution of the RESET, which will be very disruptive, and make the Lehman failure seem rather minor by comparison. The Jackass has consistently called what comes to be the Systemic Lehman Event, since major sovereign bonds have become subprime in quality, kept sustained by central banks with their QE. Another better name for Quantitative Easing is hyper monetary inflation with debt monetization of the unsterilized type. See Zimbabwe and South America for the wondrous outcomes in national economic wreckage, poverty, and bank insolvency, just two examples. The Jackass has been preaching for several years that the QE monetary policy has saved the big banks, or at least through bolstered official liquidity having bought them some time. But the consequence has been to render severe damage to the tangible economies. QE has essentially killed the economies. The feedback loop has struck the banks, which suffer great damage from the chronic recession which has never stopped since the year 2006. Business failures have combined with lower energy prices to cause a wrecking ball to hit the big banks. They also have been hurt by the rising bond yields for the USTreasurys. The lie on economic growth has been about 5% to 7% every year, from severely gimmicked price inflation. See Shadow Govt Statistics with John Williams for proof. Therefore, the true inflation adjusted GDP has been minus 2% to minus 4% every year since before the Lehman failure.

The RESET is in progress. Many are its elements. Like the Gold-Oil-RMB futures contracts in Shanghai. Like the Cross-Border Interbank Payment System (CIPS) which will function as the SWIFT alternative for Eastern nations. The entire Belt & Road Initiative forms a massive $6 to $8 trillion conference table of projects, mostly construction, all in the Eastern Hemisphere, and none conducted in USDollar terms. Many are the non-USD platforms under development, some of which have been around for a while like the BRICS Development Bank. Lately, a new piece has been put in the picture, with the BRICS Gold Platform. My suspicion is that Turkey might soon play a role with it, in conversion of sovereign subprime (toxic) bonds like the USTreasurys and EuroBonds. Keep in mind that Italian Govt Bonds deserve a 10% yield, like the Greek Govt Bonds, except that the Euro Central Bank has been subsidizing these toxic (in) securities.

TWO KEY EVENTS

An astute and very well-informed source with solid connections has provided important direction on the development. Timing is always difficult. He looks toward two key events that soon will trigger a global financial crisis, complete with a wave of reforms and solutions sought, all amidst great changes in financial markets. Expect a complete restructuring of the financial world we know it, as in debt restructure. The result will be a gold-centric financial structure, with central banks honoring finally the Gold Standard and the gold asset in banking reserves. The shift will be seen toward not only implementation of the Gold Standard, but also the Chinese RMB and possibly a key role for crypto-currencies. Confirmation is coming from the mainstream media. During the Systemic Lehman Event, otherwise called the bust of the Everything Bond Bubble (from QE squared), some sovereign bonds will be defaulted upon, with painful consequences from the failures. During the upcoming bust, certain entire national banking systems will collapse.

At the same time, next-generation technology will be unleashed. It will be both disruptive to monopoly corporations, and society also. It will act as a wrecking ball to many energy companies who have suppressed the technology. In the RESET expect some hardline rules (if not games) exerted by the banker cabal, with respect to war on cash and negative rates. They will attempt to maintain their centralized power and absent transparency. The Elders of China are driving the RESET process, after having abandoned support for many key institutions of power in the West. A gold-backed Chinese Yuan is anticipated as part of the new framework.

In the upcoming chaos, tremendous changes will come, as part of the Global Paradigm Shift. In the reforms and much needed solutions, the suppression controls and shackles for Precious Metals will be shoved aside. The source has expectations of key events unfolding rapidly, with no prospect of much delay or favorable outcome for the USDollar, since Gold cannot hold back any longer. Bear in mind the gigantic Egyptian gold investor, where something like 50% of his wealth was invested in gold bullion metal. The shrewd investors expect only PM to survive the big burn that comes, and not much else, surely not paper assets when the King Dollar suffers its fate. The source is not certain how much longer the suppression of price and news can be maintained. It surely will not last another year, more like at most several months. Events are picking up in accelerated speed and breadth for the non-USD platforms. By the way, the source is not Santa himself, Mr Sinclair.

Then the source emphasized this. He awaits two key globally important events, which are set to occur. Nothing can stop them, and both will be powerful. He knows what they are, but is not at liberty to offer further details, very clear events in development. They are near-term triggers, which will release Gold & Silver prices. Once gold is released, silver will take flight. He stressed how the Global Currency RESET will have some very visible unexpected aspects in a complete restructuring of the financial world versus its present form. He seems to be part of the planned restructure, planning, testing, and implementation, if not the upcoming crisis management.

The Jackass tried to guess on the key trigger events with Saudi oil sales taken in RMB payments. He was evasive but admitted that is a certainty already to occur between the Chinese and Arabs. My next gambit guess was to describe the development of non-USD platforms. He repeated that two key events are in the near-term schedule in progress. Before the Jackass could mention the near-term chaos with Deutsche Bank and the entire Italian banking system, he offered more details, but still somewhat general.

This will unfold as an event schedule sequence. He gave emphasis that silver metal was in dire shortage, the deficit growing worse with each passing month. Upon further reflection, the Jackass believes a widespread shutdown of principal globalist cabal banks might occur, which would alter the entire global financial framework, and unleash the gold demand. The remaining banks could then replace a large swath of their USTreasury Bonds, EuroBonds, UKGilts, and JapGovtBonds in favor of Gold bullion for the formally held assets in reserves. The RESET would then dictate how global banking systems must migrate toward gold and away from sovereign debt in their reserves management systems. The rising Gold price in the following years would ensure the banks of healthy solvency. Or at least gold will aid the central banks in their struggle toward survival, which have made disastrous decisions in the accumulation of $9 trillion of toxic sovereign bonds just in the USFed and EuroCB.

Here are several potential key events to force a grand grotesque disruption. The others pertain to deep impact events, also certain to continue the disruption. The Jackass guess on the two events are first a combination of Deutsche Bank failure with Italian banking system collapse. The second guessed event would be the introduction of the Gold Trade Note, designed to sit atop the Shanghai Gold-Oil-RMB futures contracts, with a possible announcement of interchangeable Chinese Yuan with the Gold Trade Note in a caretaker temporary transition role. Be sure to know that Jackass conjecture on the two key events is a much better descriptor, since guess seems flimsy flighty and conjecture seems educated calculated.

LIST OF POTENTIAL KEY EVENTS

VERY SERIOUS MAJOR GLOBAL GAME CHANGERS

  • Deutsche Bank failure, talk of restructure, with rupture of derivative complex
  • Italian banking system collapse, complete with numerous bank runs
  • Italian sovereign currency announced as new Lira currency in EU exit
  • London Metals Exchange launches RMB-based metals contracts
  • COMEX & LBMA rupture from lost control of integration with oil & currencies
  • Formal launch of Gold Trade Note atop the Shanghai G-O-R contracts
  • Saudi oil sales in RMB to China, adopted by other Arabs and other Asians
  • London flips East, with RMB Hub development, following their AIIBank membership

DEEP IMPACT DISRUPTIONS

  • Flourishing non-USD platforms, led by Chinese design and efforts
  • Germans and French formally end Russian sanctions, thus flipping East
  • CIPS bank transaction system gains wider adoption, even among Western nations
  • BRICS Gold Platform announces conversion of sovereign bonds to Gold
  • China pre-announces gold-backed Yuan in form of convertible Gold Trade Note
  • China announced Yuan backed by basket of currencies, Gold, other commodities
  • Introduction of a new IMF SDR basket that includes gold, crude oil, iron
  • EU opens door to Euro payments in external trade with trading partners
  • Emerging Markets rupture on debt defaults, due to currency crisis
  • NATO fractures in the open and EU pursues independent military security

PROOF OF MONETARY POLICY FAILURE

The Global RESET has already begun. The USFed has brought about a chronic slowdown in money velocity, which reveals the horrendous chronic recession. Damage has been done for over six years during the heretical QE monetary policy. The chart is only through end of year 2018. The malinvestments are hitting the wall. Add to the discussion on the bond market, aside from the USTreasurys, where much distress is seen. The USFed cannot manage the entire asset backed securities (mortgage bond) market and the corporate bond market, let alone the high yield (junk) bond market. Far afield is the Emerging Market arena, with scary damage. The Quantitative Tightening has caused severe problems already. It all seems like a scuttle project. Thus the new chairman of the USFed is certainly not a banker cabal player, with no Wall Street experience.

The following is from the Voice, with minor edits for flow. The chart is for data ending January 1st. “Chaos has entered many parts of the lateral portions from the bond market, but more visibly worse to the center of the tangible economy. It is all much simpler than you think. The Velocity of Money has slowed down dramatically and in some sectors of the economies have gone close to zero. It is much like cutting off oxygen from a passenger jet, where the passengers suffocate. Refer to the Austrian School of Economics describing the Crackup Boom scenario where malinvestments finally collapse. It is much like an earthquake triggered

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Making Italy Great Again

By Peter Schiff – Re-Blogged From Euro Pacific Capital

This week, market watchers around the world are justifiably fixated with the high-stakes, high-drama political developments unfolding in Italy. While a political crisis in the world’s 9th largest economy (International Monetary Fund figures, 4/17/18) would normally not be enough to cause an international meltdown, given how thin the global economic ice has become as a result of ever-increasing debt loads, even small disruptions can create systemic problems. But from my perspective, what makes the Italian drama so interesting is that it parallels so precisely developments in the United States. It’s amazing that more Americans do not realize, that when looking at Italy, they are looking at a fun house mirror reflection of the United States.

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European Implosion Sends Panic Through Global Markets

By Michael Snyder – Re-Blogged From Freedom Outpost

told you to keep your eyes on Europe.  On Tuesday, widespread panic shot through European financial markets and this deeply affected U.S. markets as well.  The Dow Jones industrial average fell 391 points, and at this point the Dow and the S&P 500 have been down for three trading sessions in a row.  But the big news is what is happening over in Europe.  Tuesday’s crash represented the largest one day move for 2 year Italian bonds ever, and Italian bank stocks are now down a whopping 24 percent from their April highs.

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Researchers Develop Cheaper, Better Robotic Hand

By Associated Press – Re-Blogged From Newsmax Helth

Italian researchers on Thursday unveiled a new robotic hand they say allows users to grip objects more naturally and features a design that will lower the price significantly.

The Hennes robotic hand has a simpler mechanical design compared with other such myoelectric prosthetics, characterized by sensors that react to electrical signals from the brain to the muscles, said researcher Lorenzo De Michieli. He helped develop the hand in a lab backed by the Italian Institute of Technology and the INAIL state workers’ compensation prosthetic center.

Image: Researchers Develop Cheaper, Better Robotic Hand

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‘Nightmare Scenario’ For EU Bond Markets As Anti-Euro Italian Government Takes Power

ByAmbrose Evans-Pritchard – Re-Blogged From http://www.Gold-Eagle.com

Firebrand populists of Left and Right are poised to take power in Italy, forming the first “anti-system” government in a major West European state since the Second World War.

Source: Wikimedia Commons

Leaders of the radical Five Star Movement and the anti-euro Lega party have been meeting to put the finishing touches on a coalition of outsiders, the “nightmare scenario” feared by foreign investors and EU officials in equal measure.

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The EU and the Unanimity Trap

Re-Blogged From Stratfor

Highlights

  • The European Union is unlikely to reach the consensus that is required to reform its treaties or to accept new member states within the next decade.
  • While security and defense cooperation is likely to increase within the European Union, the need for unanimity will continue to create complications for the bloc’s foreign policy.
  • In the coming years, the temptation to bypass the European Union’s institutional constraints by letting some countries introduce reforms while others opt out will increase, but this move could come at the cost of a more fragmented union.
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Eurozone Faces Many Threats Including Trade Wars And “Eurozone Time-Bomb” In Italy

By Mark O’Byrne – Re-Blogged From http://www.Gold-Eagle.com

Eurozone threatened by trade wars, Italy and major political and economic instability
– Trade war holds a clear and present danger to stability and economic prospects
– Italy represents major source of potential disruption for the currency union
– Financial markets fail to reflect the “eurozone time-bomb” in Italy

– Financial volatility concerns in Brussels & warning of ‘sharp correction’ on horizon
– Euro and global currency debasement and bank bail-in risks
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Amazing Amount Of Gold The US Exported Since 2000

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

The U.S. exported a stunning amount of gold since the turn of the century.  As the price of gold surged along with the massive increase in U.S. debt, gold exports jumped to record highs.  In 2012 alone, the United States exported nearly 700 metric tons of gold.  The total amount of U.S. net gold exports over the past 17 years equaled the combined gold reserves of six high ranking countries.

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Global Investment in Renewable Energy Has Stalled

By Steve Goreham – Re-Blogged From http://www.WattsUpWithThat.com

Earlier this month, the Trump Administration announced a decision to apply a 30 percent tariff on imported solar cells and panels. The Solar Industries Association denounced the measure, projecting job losses and cancellation of solar investments. But the solar tariff discussion hides a larger renewable energy issue. Global investment in renewables has stalled in the US, in Europe, and in many markets across the world.

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A New Year Brings Familiar Challenges for the EU

Re-Blogged From Stratfor

Highlights

  • In 2018 the European Union will try to close the free trade agreements it has been negotiating in recent years and to sign new deals with additional countries.
  • The European Union will continue pressuring Russia to cooperate on a solution for the conflict in Ukraine but will be reluctant to increase its sanctions on Moscow.
  • Initiatives to cooperate with the countries migrants hail from and travel through will be easier to approve than will plans to reform the bloc’s rules on migration.

The EU flag flies over the stock exchange building in Brussels.

(sharrocks/iStock)

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Tocqueville The Productivity Myth

By Alasdair Macleod – Re-Blogged From http://www.Silver-Phoenix500.com

Every now and then, there’s a rash of commentary on national productivity. And for the British, productivity is all part of the Brexit angst, with the OECD, the Treasury, the Bank of England and Remainers all saying the average Brit’s poor productivity just goes to show how much they need the certain comfort of being in the EU. As Hilaire Belloc put it, we must hold on to nurse, for fear of something worse.

Only this week, the OECD came out with a paper repeating its disproved nonsense about the economic consequences of Brexit, even recommending Britain should hold a second referendum to reverse the Brexit decision. To back up its analysis it claimed Britain’s labour productivity is at a standstill, while that of France, Germany the United States and the OECD averages are all improving.

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The German Elections Matter — and Not Just for Germany

Re-Blopgged From https://worldview.stratfor.com

Highlights

  • Germany’s Sept. 24 election will likely result in one of the most fragmented parliaments the country has seen in decades.
  • The country’s two largest parties will try to avoid renewing their current coalition partnership, meaning smaller parties will play a big role in the formation of the next government.
  • The ideological composition of the new administration will affect negotiations to reform the European Union, and when it comes to Southern Europe’s proposals for reform, a center-right coalition would be more skeptical than a center-left coalition.

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