Friday, September 30, 2016

7 Things You Need to Know: “New World Money” Goes Live Tomorrow


by Jim Rickards, DailyReckoning:
1) Is tomorrow THE day that the dollar “dies” and is replaced?
Tomorrow, Sept. 30, is when the International Monetary Fund (IMF) officially adds the Chinese yuan to its basket of currencies comprising its special drawing right (SDR). It has enormous long-term implications for the dollar.
Does that mean the dollar becomes worthless overnight? Of course not. Tomorrow’s event may not even make major headlines. You won’t hear about it in the news. And it won’t cause the dollar to crash immediately. This is a development with long-term implications, but in itself, it will not make waves. But that’s the point — the dollar will die — but with a whimper, not a bang.
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Bill Holter’s Commentary   www.jsmineset.com
 
This toon is very appropriate and very timely …but please don’t “laugh” at it!
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I did not intend to write today but 3 events warrant a heads up.
1. Deutsche Bank may be having their “Lehman moment” as 10 hedge funds have withdrawn funds and are cutting exposure with DB.
This is how a “bank run” starts folks! Quite convenient that this Monday I believe is a banking holiday in Germany. If this is truly a Lehman moment, we will have a far larger event in a very compressed timeframe than we had in 2008.
2. The veto of the Saudi 911 bill was overridden in the House and Senate.
The ramifications of this are beyond human comprehension to understand how widespread the fallout can be. Think “Rollover” by multiples with the added negative the U.S. is no longer the sole military superpower in the world. I wrote about this last week, the important thing to understand is the assets that get sold in dollars…will not remain in dollars very long!
3. It looks like John Kerry is threatening to cut off diplomatic ties with Russia.
This is horrific on so many levels, particularly to the survival of the human race. Please understand the “timing” of this particular item. All three of these events are happening at one time, if you believe it’s a “bad coincidence” you are wrong in my opinion. The takedown of the Western standard of living is happening in real time, right now. Ignore this at your own risk!
Standing watch,
Bill Holter
Holter-Sinclair collaboration.


DEUTSCHE BANK ON THE VERGE OF COLLAPSE – PROTECT YOURSELF, AND DO IT NOW!

[pictured: DB’s Derivatives exposure]
by Andy Hoffman, Miles Franklin:
I don’t normally write Friday morning, in lieu of waiting for the week’s trading to close. However, as my entire family is flying in to celebrate Diana’s 50th birthday – from New York, New Jersey, Maryland, Florida, and California – I’m going to make an exception. Quite exciting – and terrifying; as I have no idea if today will indeed be the bloodbath it has all the potential in the world to be, or if the powers that be will be able to muster enough money printing, market manipulation, and propaganda to stave off panic through the weekend.
A weekend, I might add, that not only includes the expiration of the U.S. fiscal year at midnight tonight – with not even a whiff of a 2017 budget proposal in the air, making a government shutdown tomorrow morning highly possible; but a three-day weekend in Europe, given the…I kid you not…”banking holiday” scheduled for Monday.
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Stocks Soar After French Press "Confirm" Deutsche Bank Near Settlement With DOJ



Seemingly confirming the rumor, Agence France Press reports that Deutsche Bank is nearing a $5.4 billion settlement with the US Justice Department. This has catalyzed another leg higher in Deutsche Bank stock and lifted the whole market.

Rumor Rescues Deutsche From Banking Bloodbath But Gold Tops Stocks In September


Is America Still A Serious Nation?



Is America still a serious nation? Consider. While U.S. elites were denouncing Donald Trump as unfit to serve for having compared Miss Universe 1996 to “Miss Piggy” of “The Muppets,” the World Trade Organization was validating the principal plank of his platform. America’s allies are cheating and robbing her blind on trade.

Citi Trader: "I Almost Feel Stupid Being Bearish "



"I almost feel stupid being bearish given it has been such an incredibly popular and incredibly losing strategy for so long and there have been so many false starts over the past few years."

BofA Upgrades Deutsche Bank's Cap Structure Despite Admission "Does Not Particularly Like It"



"We do not particularly like the profile of a credit where performance is skewed to an outcome that is so inherently unpredictable – in this case, guessing what a regulatory fine will be....  DB is likely to be a weak bank for several years from now, though, even with a capital increase."

Secret Swiss Military Bunkers Being Filled With Gold By Billionaires Seeking "Alternatives To Bank Deposits"



“There is growth in gold.  Since 2008 there has been a real interest in alternatives to bank deposits.”

Clinton Foundation 'Deal' Unleashes Italy's Anti-Trump Front



Mrs. Clinton musters foreign support in a desperate attempt the regain her lead.

Satellite Imagery Reveals China's Strategic Petroleum Reserve Is Vastly Greater Than Disclosed



According to satellite images by geospatial analytics startup Orbital Insight, China, has not only misrepresented how much oil it has stored, it has done so at a massive scale, with the real number dwarfing even JPM own estimate: the real amount of Chinese oil in storage, according to Orbital, was a whopping 600 million barrels as of May, a number which may have risen to well over 700 million barrels as of September.

Inside France's "The Jungle" Migrant Camp



... the government's "irresponsible" plan to relocate migrants in Calais to other parts of France... would "proliferate a multitude of small Calais, genuine areas of lawlessness that exacerbate lasting tensions throughout the country."

Project Mayhem - Man Calmly Enters Apple Store And Crushes Every iPhone In Sight With A Ball Bearing



Amazing video of a Frenchman calmly walking into an Apple store and proceeding to crush every single iPhone in site with a metal ball bearing..

US Oil Rig Count Rises Most In Q3 Since 2009



Q3 ends with a 29% rise in US oil rigs - this is the biggest rise since Q4 2009. Oil rigs have risen 14 weeks in a row (up 7 this week to 425, the highest since Feb 2016).

The Fed's Monetary Politburo Is Finally Catching Some Flack



“As the saying goes, perception is reality,” Garrett told Yellen. “Whether you like it or not, the public increasingly believes that the Fed’s independence is nothing more than a myth.”

Congress Gets "Case Of Rapid-Onset Buyer's Remorse" One Day After Passing 9/11 Bill

“Everybody was aware of who the potential beneficiaries were but nobody had really focused on the potential downside in terms of our international relationships, and I think it was just a ball dropped” - Mitch McConnell

Did Trump Support The Iraq War Or Not?



The way Lester Holt “corrected” Donald Trump at Monday’s debate (as he was clearly instructed to do) regarding the Iraq War, you’d think the answer to whether he supported it or not was clear-cut. The truth is, it may not be that simple. Meanwhile, we know for sure which candidate absolutely loves war and leaves a trail of death and destruction in her wake: Hillary Clinton.

Greece Says It's "Safe" From Deutsche Bank Turmoil



"Greek banks not at risk from turmoil in European banks..."

Cash Funding Shortage Soars To Highest Since Financial Crisis In Repo


As Europe's Dollar Shortage Intensifies, Funding Pressure Surges Most In 4 Years



As the world wakes up to the fact that Deutsche Bank is not Lehman - it's massively bigger, and massively more systemic, oh and it has depositors contagion is spreading through global funding and asset markets.

America is on a Slippery Slope

by Alasdair Macleod, GoldMoney:
It hadn’t happened before, at least not since US presidents started visiting foreign countries after the Second World War.
In early September, when President Obama landed at Hangzhoi for the G-20 summit in early September, the CIA security men were told in no uncertain terms by the Chinese that they were not in charge of landing arrangements, and that the President would disembark by the rear exit. It had the hallmarks of a calculated snub, as did the obligatory photograph of the world’s leaders, where the President was placed firmly on the far left, and not near the centre, which is customary.
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V Guerrilla Economist: China Setting Up A Gold Control Move

from The Daily Coin:



Deutsche Bank, Japan Bonds, SDR China, Saudi USTs, One Heck of a Weekend: Open Thread

from Rogue Money:
Dear Rogue Money Readers: we are posting this Open Thread to encourage Reader Comments in the spirit of “if you hear something, say something” as the Maelstrom of Autumn 2016 begins to unfold. The specific data points that I am watching as Q3 winds down tomorrow are listed below. But, as W. has reminded us, “Expect the Unexpected,” and absolutely ANYTHING can happen now between today and next Monday… and beyond as we steer through the treacherous waters of October.
Shout-out to V. and to Ken Schortgen Jr. for sounding the preliminary alarm bells. You’ll want to start with these Youtubes:
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The World’s Economic System Failing Fast: China on Brink

from The Daily Bell:
ECB and Italy’s bank rescue fund head clash over bailout rules … The European Central Bank and the head of Italy’s bank rescue fund clashed on Monday over the European Union’s tough conditions on state aid for troubled banks. Speaking at the same conference in London, one of the ECB’s most senior supervisors said EU states should follow the bloc’s rules when it comes to dealing with problem banks while the head of Italy’s Atlante fund called the resolution process “absurd.” – Reuters
More bad financial news. Italy, Germany and China continue to decay economically as they move toward financial catastrophe.
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Al-Nusra Commander: US, Israel, Saudi’s Back ISIS

from TRU News:
Jabhat al-Nusra unit commander Abu Al Ezz told Koelner Stadt-Anzeiger newspaper journalist Jurgen Todenhofer that the US, Israel, and Saudi Arabia support and arm terrorist groups in Syria.
“Yes, the US supports the opposition [in Syria], but not directly. They support the countries that support us. But we are not yet satisfied with this support.”
Jabhat al-Nusra unit commander Abu Al Ezz: Militants should be receiving more “sophisticated weapons” from their backers to succeed against the Syrian government.
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Cancer Healing – A Natural Alternative

by Jonathan Landsman, Natural News:
By the end of 2016, the American Cancer Society estimates that cancer will have claimed over 595,000 lives: that’s 1,630 people per day, in this year alone – making cancer second only to heart disease as the leading cause of death in the United States. In addition, over 1.6 million new cases of the disease are expected to be diagnosed. (Our medical approach MUST change)
Suppressed natural therapies for cancer revealed. On the next NaturalNews Talk Hour, Jonathan Landsman and Linda Isaacs, MD – board certified in internal medicine will talk about a 3-prong approach to healing cancer without the need for toxic drugs. If you or someone you know is suffering from cancer, you won’t want to miss this lifesaving information.
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The Financial System Is On The Cusp Of Collapse


by Dave Kranzler, Investment Research Dynamics:
DB stock is now in a full panic sell-off as I write this. It just hit another new all-time NYSE low on by the heaviest volume ever in the stock since its 2001 NYSE listing. It’s currently down almost 10%. No doubt the Central Banks will try to bounce it.
Deutsche Bank may well be the scapegoat this time around just like Lehman was the scapegoat in 2008. Central Banks in collusion can prevent just one bank from collapsing. It was the co-collapsing of AIG and Goldman Sachs that prompted then-Secretary of Treasury, ex-Goldman CEO Henry Paulson, to put in motion the bailout of the U.S. and European banking system.
Yesterday it was reported that the rate the Fed charges the banks to borrow collateral surged to its highest rate in 7 years – LINK. The rush to borrow collateral was no doubt prompted by OTC derivatives-related counter-party collateral calls. A collateral call is like a margin call in a stock account. This occurs when a derivatives trade goes south for an entity that is on the long side of the derivatives bet – a bet that Deutsche Bank won’t default, for instance – and the counterparty to that trade demands more collateral to be posted in order to insure that the bet can be paid off if the “long side” loses.
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THE WORLD IS ON THE EDGE OF A DEFLATIONARY BLACK HOLE

by Egon Von Greyerz, Gold Switzerland:
The world economy is now at its most dangerous point in history. In virtually every major country or region, there are problems of a magnitude which individually could trigger a collapse of the financial system. Because of the interconnectivity of the system, when the first domino starts falling, there is zero possibility to stop all the other unstable dominoes from crashing one after the other in quick succession.
The world is now staring down a deflationary black hole that is on the verge of sucking into it all global debt of $250 trillion plus unfunded liabilities and derivatives of another $2 quadrillion or so. That would be the end of the financial system as we know it. Governments and central bankers around the world are of course totally aware of this and are standing with their fingers ready to push the button for the biggest money printing bonanza that the world has ever experienced.
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Largest Dutch Bank To Fire Thousands


One day after Germany's second largest lender confirmed reports of a massive restructuring when it announced it would lay off nearly 10,000 employees, or about 20% of its entire workforce while slashing the bank's dividend for the rest of the year, the Dutch newspaper Het Financieele Dagblad reported that ING Groep, the largest Netherlands lender, will announce thousands of job cuts at its investor day on Monday.

As Europe's Dollar Shortage Intensifies, Funding Pressure Surges Most In 4 Years


As the world wakes up to the fact that Deutsche Bank is not Lehman - it's massively bigger, and massively more systemic, oh and it has depositors contagion is spreading through global funding and asset markets.


I’m in Awe of How Fast Deutsche Bank is Falling Apart

by Wolf Richter, Wolf Street:
Counterparties lose confidence, withdraw cash.

Deutsche Bank, with $2 trillion in assets, amounting to 58% of Germany’s GDP, one of the most globally interwoven banks, with gross notional derivatives exposure of €46 trillion, right at the top along with JP Morgan (booked as €41 billion in derivative trading assets after netting and collateral) – this creature of risk and malfeasance, is finally starting to scare its counterparties.
This is how Lehman came unglued. Slowly and then all of a sudden.
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Stocks Soar After French Press "Confirm" Deutsche Bank Near Settlement With DOJ


Seemingly confirming the rumor, Agence France Press reports that Deutsche Bank is nearing a $5.4 billion settlement with the US Justice Department. This has catalyzed another leg higher in Deutsche Bank stock and lifted the whole market as it would appear that unconfirmed sources have 'fixed' the world's most systemically dangerous bank (despite the fact that short-dated counterparty risk is soaring).

Atlanta Fed Q3 GDP Estimate Tumbles To 2.4% From A High Of 3.8%


Until today, the Atlanta Fed's Q3 GDP estimates used to be well higher compared to Wall Street's own forecasts. No more.

Everything You Need To Know About Gold In 50 Stunning Slides


This Is The Rumor Causing The Spike In Deutsche Bank Shares


The catalyst for the DB spike is again a rumor.  There has been trader unsubstantiated speculation - launched on Twitter - that the bank may reach a lower RMBS settlement with the U.S. DoJ than feared. As Bloomberg seriously notes: "unverified handles on Twitter speculate the DoJ fine may be $5.4b, vs reports earlier this month the DoJ had sought $14b. Unverified handles including @fiatcurrency, @Fxmacro Tweet or retweet the speculation."

This Is How Much Liquidity Deutsche Bank Has At This Moment, And What Happens Next


Following today's Deutsche Bank fireworks, Goldman reports that "crisis” questions are being asked: “is there risk of a financial crisis re-run” and “can a large European bank face a liquidity event”? To answer these questions we look at the total liquidity accessible to Deutsche Bank, and what are the options facing the bank next.

Chicago Fed Bounces But Employment Slips


"Economic growth in the US appears to have picked up a little at the end of the third quarter," reports MNI as September's Chicago Fed ticked up to 54.2 (better than the 52.0 expectations). Most subindices rose but notably employment fell. While excuses grow around the nation for disappointing data, 79% of Chicago panellists said the run-up to November Presidential Elections is having a negligible impact on business.

Deutsche Bank Yield Curve Inverts As Counterparty Risk Hedging Spikes Despite DoJ Rumors


As the mainstream media attempts to mollify the ignorant masses with rumors of reduced DoJ fines for DB (as if that the problem now), professionals are buying counterparty risk protection at the fastest pace in history.

Hunter S. Thomson's Prescient 1972 Warning


While on the campaign trail in 1972, Hunter S. Thomson issued a dire warning that is more true today than it ever has been...


"Wrong Way Gartman"

Gartman: "This Selling Cascade Could Become Very Serious Indeed"


"We take this rather uncommonly large number of “reversals” very seriously, and given that this is the quarter’s end we’d not be at all surprised to see this selling cascade today and become very serious indeed."

Gold & Silver Are Spiking


With USDollar liquidity demand soaring in Europe, and Lehman-esque systemic risk concerns re-emerging from the shadows, it appears the safe haven bid for protection from the folly of politicians and central planners is alive and well...

US Spending Disappoints In August As Savings Rate Rises For Second Month


After pesonal spending growth slowed modestly one month ago, rising 3.8% Y/Y, in August US consumption once again disappointed, staying flat in the month, below the 0.1% expected sequential rebound, although this was offset by an upward revision to the last month's data from 0.3% to 0.4%. On an inflation adjusted basis, as feeds into the GDP beancount, Real PCE dipped -0.1% in August, well below July's 0.3% bounce, missing the expectation of a 0.1% rise while the Core PCE Index was inline with the 1.7% expected on a Y/Y basis.

Deutsche Bank CEO Writes Memo To Employees, Blames "Speculators", Confirms Liquidity Flight


"Our bank has become subject to speculation. Ongoing rumours are causing significant swings in our stock price. ... Trust is the foundation of banking. Some forces in the markets are currently trying to damage this trust."

Philippines President Compares Himself To Hitler, One Week After Telling Brussels "F**k You"


"There are three million drug addicts (in the Philippines). I'd be happy to slaughter them. "If Germany had Hitler, the Philippines would have...," he said, pausing and pointing to himself.

Global Stocks Slide As Deutsche Bank Fears Rise: Flight To Safety Boosts Bonds, Bullion


Global stocks continued their selloff this morning, driven by surging speculation about the liquidity, solvency and viability of Deutsche Bank, which plunged 9% after opening in German trading today, dropping to a new all time single-digit low of €9.90, while its default risk soared to new all time highs.

Will The ECB Buy Stocks?


With The SNB and BOJ already neck deep in their equity-buying experimentation, and even Janet Yellen hinting at it for The Fed, the most pressing question on most liquidity-hunting central-planer-watchers is - when will Draghi start buying stocks? The short answer, from ABN AMRO, is ECB equity purchases are unlikely in the near term.. and even so, The ECB would be increasing the risk on its balance sheet for uncertain, and at best modest gains in economic growth and inflation.

Cheat Sheet: The Third Party Presidential Candidates


It’s coming closer to election time, and it’s hard to shake the feeling that something crazy or unprecedented could happen in the coming months... and for the first time in almost 20 years, the third-party candidates are getting attention across the board.

France's New Sharia Police


The silence of politicians and human rights organizations, when non-Muslim women are violently assaulted because they wear shorts that are not compatible with sharia -- as opposed to their thundering indignation against police for issuing a fine to a Muslim woman in a burkini -- signals an immensely important political and institutional move...

Cash Funding Shortage Soars To Highest Since Financial Crisis In Repo



DEUTSCHE BANK HANGS BY A THREAD ON EVE OF JUBILEE

by Jeff Berwick, The Dollar Vigilante:
Nearly a year ago to the day, on September 28th, we wrote “Will Deutsche Bank Be This Cycle’s Lehman Brothers?
In it we asked, “In 2008, the financial crisis was set-off by the collapse of Lehman Brothers. Could this year’s crisis be caused by a collapse of Deutsche Bank?”
The day after the end day of the Shemitah in 2015, on September 14th, Deutsche Bank announced that it was laying off 23,000 employees, about 25% of its workforce.
At the time, it was trading around $26 per share.
Now, on the eve of the end of the Jubilee Year, Deutsche Bank was down another 7% on Thursday and is now at an all-time low near $11.50.
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US Threatens to Launch Terrorist Attacks in Russia

from Hang The Bankers:
In extraordinary comments that have gone virtually unnoticed by the media, U.S. State Department spokesman John Kirby threatened Moscow with terror attacks in Russian cities and even shoot downs of Russian jets if Vladimir Putin continued his fight against ISIS in Syria.
“Extremist groups will continue to exploit the vacuums that are there in Syria to expand their operations, which could include attacks against Russian interests, perhaps even Russian cities. Russia will continue to send troops home in body bags, and will continue to lose resources, perhaps even aircraft,” Kirby told reporters at Wednesday’s press briefing, adding that if the war in Syria continues “more Russian lives will be lost, more Russian aircraft will be shot down.”
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Tucson Police Officer Speaks Out-Black Lives Matter Is a Fraud-Most Blacks Respect the Police

by Dave Hodges, The Common Sense Show:
I recently had a police officer write to me about what they are discovering are the feelings of everyday black people toward whites as well as the police. I removed all the personally identifying information because the police can be so vindictive toward their own.
Contrary to the MSM, Most Blacks Do Not Hate White People
Black lives do matter, but so do all other lives. The organization, Black Lives Matter, founded and funded by former Nazi, George Soros, is a despicable group. Myself and many others have concluded that Black Lives Matter is a fraud as well as a terrorist organization. There only purpose is to stir feelings of racial division that otherwise would not exist to a large degree. And they certainly they do not represent the views of the majority of black people.
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Hedge Funds SHORT Deutsche Bank Forcing Germany to Need BAILOUT!

from The Money GPS:



Strange Deaths of JPMorgan Workers Continue

by Pam Martens and Russ Martens, Wall St On Parade:
Last Thursday, September 22, 2016, the body of Ann Korkki, a Senior Administrative Assistant in the Wealth Management division of JPMorgan Chase in Denver, Colorado was found with the body of her sister, Robin Korkki, inside their luxury vacation villa at the Maia Resort on Seychelles, an island in the Indian Ocean off the East African coast. Ann Korkki was 37; her sister Robin was 42.
According to the local Seychelles newspaper, there was no sign of violence on the bodies of the women who were on a one week vacation at the resort. The mother and brother of the sisters are currently in Seychelles “pressing U.S. and local officials for details” and making arrangements to bring the sisters back to the U.S. according to a news report in the Minneapolis Star Tribune, which covered the story because the sisters had attended high school in the area.
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Can Russia Learn From Brazil’s Fate? — Paul Craig Roberts and Michael Hudson

by Paul Craig Roberts, Paul Craig Roberts:
William Engdahl recently explained how Washington used the corrupt Brazilian elite, which answers to Washington, to remove the duly elected President of Brazil, Dilma Rousseff, for representing the Brazilian people rather than the interests of Washington. Unable to see through the propaganda of unproven charges, Brazilians acquiesced in the removal of their protector, thereby providing the world another example of the impotence of democracy. http://www.informationclearinghouse.info/article45561.htm
Everyone should read Engdahl’s article. He reports that part of the attack on Rousseff stemmed from Brazil’s economic problems deliberately created by US credit rating agencies as part of Washington’s attack to down grade Brazilian debt, which set off an attack on the Brazilian currency.
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John Bolton: Hostile Foreign Governments Will Use Obama’s Internet Surrender to Their Advantage

by John Hayward, Breitbart:
On Thursday’s edition of Breitbart News Daily on SiriusXM, former U.N. Ambassador John Bolton criticized Republicans for failing to effectively oppose an Obama policy that has devastating long-term consequences: the surrender of American control over Internet registration.
Breitbart Editor-in-Chief and SiriusXM host Alex Marlow asked Bolton about the impending surrender of Internet control to a multinational body, which Bolton saluted Senator Ted Cruz and some of his colleagues for making an “heroic effort” to block by inserting legislation into the continuing resolution for federal government funding.
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