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“We Worry About Armed Conflict”: Investors Are Suddenly Freaking Out About Post-Election Violence
Earlier we reported that amid fears of election night chaos, the White House has been put on lockdown, and that according to NBC sources, beginning tomorrow, a “non-scalable” fence will be erected to secure the WH complex, Ellipse and Lafayette Square with 250 National Guardsmen on standby. It’s not just the White House that is…
Peter Schiff: The Fed Has Never Been Right
Peter Schiff delivered a key-note speech at the Virtual Investor Day Conference. He walked through the history of the Federal Reserve’s monetary policy over the last several decades and explained the inevitable outcome. Peter’s recap of Fed history leads you to an undeniable conclusion: the Federal Reserve has never been right. And it has set…
Flying Blind: Clueless About Risk, We’re Speeding Toward Systemic Failure
For all these reasons, the risks of systemic collapse are much higher than commonly anticipated. There’s an irony in discussing risk: since we all have an instinctive reaction to visible risk, we think we understand it. But alas, we don’t, especially when the risk is invisible and systemic. We even misjudge extremely visible risk. People routinely die rushing…
Former Deutsche Bank Traders Convicted Of Fraud For Spoofing Precious Metals Between 2008 And 2013
Former Deutsche Bank AG traders Cedric Chanu and James Vorley were convicted for manipulating gold and silver prices on Friday after three days of deliberation by a Federal jury in Chicago. The two were accused of making fake trade orders between 2008 and 2013 to influence the prices of precious metals. Their trial was a…
Morgan Stanley Sounds The Alarm On Record High Bond Duration, Is Starting To Buy Bond Volatility
You Have More Duration than You Think 2020 has seen a pandemic inflict enormous human and economic cost. In 2Q, the global economy contracted by the largest amount on record and, as autumn approaches, major questions around returning to school, work and other aspects of daily life remain. But for investors, 2020 has been something…
“Red Flags Galore”: Companies Sold A Mindblowing $113 Billion In Stock In Q2
When it comes to bearish market flow red flags, aggressive selling of stock by corporate insiders is traditionally viewed as the biggest red flag – after all, nobody knows the prospects for their companies better than the people who run them – followed closely by companies selling stock. The logic is simple: why sell today…
“Watershed” Moment: Is Gold Signaling Stocks Now On “Shaky Footing”?
I rarely discuss financial markets these days. Although I pay attention, it’s not in the obsessive manner I did a decade ago. I mainly keep my eyes out for potential big macro turning points, and if I see something interesting in that regard, I try to share it with readers. This means I might not mention markets…
COVID-Crunch? Fed Begins Rationing Coins As Americans Horde Cash
Having closed the US Mint and halted production (blaming COVID-19) after a surge in demand for gold and silver coins, and warned of the danger of using bills (once again blaming the pandemic and choosing to “quarantine” cash for the sake of Americans’ health), Fed Chair Powell quietly admitted to lawmakers this week that The Fed will be rationing coins…
Civil War 2.0 Weather Report: The Tsunami Begins, But You Knew That…
If we can stop him, we shall prevent the collapse of Western Civilization. No pressure.” – Sherlock Holmes: A Game of Shadows In the first issue of the Civil War Weather Report, I put together ten steps to a new civil war. I did not expect that on the one year anniversary of that first report we’d move from step…
Snyder: It’s Much Worse Than You Are Being Told
For a long time I warned that our economic bubble would burst and that we would plunge into a nightmarish economic collapse. Now it has happened, and it turns out that fear of COVID-19 was the “black swan event” that triggered the collapse. The ironic thing is that COVID-19 is not even close to the worst thing…