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Why Are So Many Big Investors Positioning Themselves To Make Giant Amounts Of Money If The Stock Market Crashes?

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I keep hearing from people that think that the stock market is going to crash by the end of the year.  Hopefully that will not happen, but the ridiculous stock prices that we are seeing right now certainly cannot last forever.  On Sunday, I was chatting with a friend that had just been to a financial conference.  He was quite surprised that one of the things being taught to the attendees of this conference was how to position themselves to make an enormous amount of money when the stock market crashes dramatically in the near future.  Markets tend to go down a lot faster than they go up, and so when the inevitable market crash does take place those that have made large bets against the market will make huge fortunes.  It happened in 2008, and it will happen again.  But it was unsettling to my friend Robert that there were so many people that were gleefully looking forward to this.

Of course some of the biggest names in the investing world are also anticipating a major downturn very soon.  I have previously written about how Warren Buffett’s Berkshire Hathaway Inc. is sitting on a pile of 86 billion dollars in cash right now.  Nobody ever knows exactly what Buffett is thinking, but it isn’t too hard to figure out that he plans to use those billions to buy up stocks for a song after a big market crash happens.

I have also previously written about many other big names throughout the financial world that are warning that a new financial crisis is imminent.  The last time I saw so many prominent investors sounding the alarm was just before the market crash of 2008, but most people didn’t listen that time around either.

And of course those that believe that a market crash is coming are doing a lot more than just talking about it.  According to Zero Hedge, there are now more short positions betting against the Russell 2000 than we have seen at any time in the last six years…

The Russell 2000 Index posted a 2.2% decline in May, its worst month since October, and it appears a large swath of investors is now betting it has further to fall.

As Bloomberg notes, hedge funds and other major speculators have a combined net short position of 73,030 contracts in the small-cap index’s futures, according to the latest data from the Commodity Futures Trading Commission.

Russell 2000 sentiment has sharply declined since January, when future contract positioning reached record bullishness. It’s now the most short since May 2011.

The last time investors were this short the Russell 2000, it fell by almost 30 percent.

Can we expect something similar this time?

We will just have to wait and see.

Meanwhile, there has also been a surge in the number of investors betting that we will soon see increased market volatility

As Bloomberg notes, with the VIX down more than 30% this year through the end of last week, investors have been using options to bet on volatility.

As the chart above shows, the volume of contracts wagering on a resurgence of market turmoil has reached its highest level since last February relative to those calling for a drop in price movements.

Because markets tend to go down much faster than they go up, most of those that bet on increased volatility are typically doing so because they believe that a stock market crash is coming very soon.

And it is also interesting to note that hedge funds are jumping into gold at a rate that we have not seen since 2007

Hedge funds are jumping back into gold.

Money managers boosted their long positions in U.S. futures by the most in almost a decade in the week ended May 23, Commodity Futures Trading Commission data show.

Gold is a safe haven asset, and it is a very good place to be during a major financial crisis.  So if hedge funds are anticipating that we are on the verge of a major market downturn, it would make sense for them to be piling into gold.

All of the moves that I have discussed above will end up looking quite foolish if stocks just keep going up and up and up.

But if the market crashes, those that have positioned themselves ahead of time will end up making a killing.

Today the stock market bears absolutely no resemblance to economic reality, but at some point that will change.  And with each passing day we just continue to get more bad economic news.

Yesterday, I showed that according to official U.S. government figures there are 102 million working age Americans that do not have a job right now.  Today, we got more confirmation that the U.S. economy is slowing down.  We learned that new vehicle sales fell on a year-over-year basis for the fifth month in a row in May, and we learned that factory orders and new orders for durable goods both declined last month.  And for a lot more numbers just like those, please see this article.

The U.S. economy is not “healthy” and it hasn’t been for a very long time.  Because we have shipped so many jobs overseas, manufacturing’s share of U.S. employment has fallen to an all-time record low.  The middle class is shrinking, and somewhere around two-thirds of the country is living paycheck to paycheck.  We have been able to maintain our national standard of living by going on the greatest debt binge of all time, but every additional dollar of debt that we take on makes our long-term outlook even worse.

Just because he is living in the White House does not mean that Donald Trump can automatically turn things around.  Without the help of Congress, he cannot cut taxes, repeal Obamacare, eliminate unnecessary federal agencies or implement many of the other items on his economic agenda.

And the truth is that because of the way that our system is structured, the Federal Reserve actually has much, much more power over the economy than Donald Trump does.  When the financial markets crash and we officially enter the next recession, most of the blame will be placed on Trump, but it won’t be his fault.  Instead, it will be primarily the Federal Reserve’s fault, and we need to educate the American people about this ahead of time.

What goes up must come down, and this irrational stock bubble has been living on borrowed time for quite a while now.

It isn’t going to take much to push things over the edge, and there are all sorts of candidates for what the next “trigger event” will be.

 
  • PocoPete

    Another excellent article. In particular the comment that gold is a safe haven asset can not be stressed enough.

    • socalbeachdude

      Gold is a preposterously overpriced little niche fungible commodity and will collapse right along with all of the other 27 major commodities.

      The Federal Reserve is a superb and very conservative central bank and has nothing whatsoever to do with the stock markets.

      • PocoPete

        Gold is an excellent investment.

        The Federal Reserve Is riddled with corruption and conflicts of interest.

        • socalbeachdude

          False on both counts.

          There is no question whatsoever that the PRICE OF GOLD HAS PLUNGED AROUND 35% (more than one-third) over the past nearly 6 years since its manic speculative high on September 5, 2011 which is a drop of around $700 per ounce making it one of the VERY WORST speculative plays out there during that period of time.

          There is no evidence whatsoever of even the slightest bit of “corruption” related to the Federal Reserve which rebates more than 94% of its annual profits each year to the US Treasury, and there are no “conflicts of interest” at all involving the Federal Reserve which was created by an act of Congress.

          • PocoPete

            The price of gold will soon be rising very rapidly.

            The Federal Reserve should be abolished.

          • socalbeachdude

            No, the price of gold will be soon very rapidly plunging towards and to its mean of $456 per ounce and then headed lower to perhaps as low as $232 per ounce.

          • PocoPete

            The price of gold will exceed $2000 by the end of 2017.

            The Federal Reserve intentionally obfuscates its workings to hide what it is really doing. See the Wikipedia section for “Fedspeak”. “In monetary policy of the United States, the term Fedspeak is what Alan Blinder called “a turgid dialect of English” used by Federal Reserve Board chairmen in making wordy, vague, and ambiguous statements.”

          • socalbeachdude

            Laughably false! Many are predicting gold will rapidly plunge to $700 per ounce and lower including various advertisements for articles on these very pages here on the ECB.

            The Federal Reserve certainly does not “obfuscate” anything and is extremely transparent in what it does and why it does and I would suggest you read their minutes to get an understanding of Federal Reserve policy.

            Fed forecasts rate hike ‘soon,’ details plan to trim balance sheet

            Most members of the Federal Reserve believe they should raise interest rates “soon” as long as the economy continues to rebound from a surprising bout of weakness in the first quarter, minutes from the Federal Reserve’s May 2-3 meeting showed.

            The minutes, which were released Wednesday afternoon, showed some central bankers were still watching for evidence that a recent slowdown in growth is temporary and that inflation is heating up before committing to another interest rate hike. But if economic data comes in as expected, the Fed could raise rates when it meets on June 13-14, a move markets have generally been anticipating.

            The minutes also contained details of how the Fed might reduce the massive $4.5 trillion balance sheet it accumulated by purchasing Treasury and mortgage-backed securities during the recession. Central bankers expressed preference for a plan that would let the assets gradually mature but every three months decrease the amount the Fed reinvests in these purchases, leading to a predictable and orderly reduction.

            https://www.washingtonpost.com/news/wonk/wp/2017/05/24/fed-minutes-sound-note-of-caution-about-june-rate-hike/?utm_term=.115c2777225f

          • PocoPete

            Fed policy is a hodgepodge of monetary mismanagement and economic interference in the marketplace. Sadly, little effort is being made to seriously consider real monetary reform, which is what we need. That will only come after a major currency crisis.

            In spite of all the mandates, flip-flopping on policy, and irrational regulatory exuberance, there’s an overwhelming fear that is shared by all central bankers, on which they dwell day and night. That is the dreaded possibility of DEFLATION.

          • socalbeachdude

            Absolutely false. There is no “hodgepodge” at all related to the very clear and straightforward policies of the Federal Reserve – except in the minds of those who have no comprehension at all of monetary policy.

            We are in a GLOBAL DEFLATIONARY SPIRAL and the prices of all assets will be heading much lower just as many already are including nearly all commodities which have been plummeting for the the past 6 years which is a VERY GOOD THING and very positive for the purchasing value of the US dollar in which all commodities are priced.

          • PocoPete

            Before the Federal Reserve will surrender to the effects of price deflation, it will use any means to fight it. This includes “Helicopter Money”.

          • socalbeachdude

            Laughably and categorically FALSE. The Federal Reserve NEVER “GIVES” MONEY TO ANYONE EVER. Get a clue.

          • PocoPete

            Under the guise of “macroeconomic management,” the Federal Reserve redistributes vast amounts of wealth on an ongoing basis through inflation. The victims of these transfers are ordinary Americans. The beneficiaries are the government and its elite cronies.

          • socalbeachdude

            Laughably and totally false.

            The Federal Reserve does NO SUCH THING AT ALL as your totally falsely assert and is one of the most conservative central banks in the world.

            Inflation has been NEARLY TOTALLY NON-EXISTENT FOR THE PAST 10 YEARS and many prices including nearly all commodities have DEFLATED VERY SIGNIFICANTLY OVER THAT PERIOD OF TIME including junk speculative metals in yellow and gray colors!

          • PocoPete

            The Federal Reserve definitely engages in gold price manipulation.

          • socalbeachdude

            The Federal Reserve has NOTHING WHATSOEVER TO DO WITH ANY GOLD MARKETS OF ANY SORT and owns practically NO GOLD at all itself and couldn’t give the slightest bit of a hoot about that irrelevant junk or its price.

          • PocoPete

            The Federal Reserve hides its manipulations quite well and is a master of subterfuge and shell games.

          • socalbeachdude

            Absolutely false and totally bogus assertions.

          • PocoPete

            These assertions are true.

          • socalbeachdude

            Your assertions are more false and bogus than a $3 Euro, dude. Thank you for confirming that you are nothing other than a mindless clueless GATA TROLL.

          • PocoPete

            The Gold Anti-Trust Action Committee is a very honest and reputable organization.

          • socalbeachdude

            GATA is as DISHONEST as any group of people could ever be and are nothing other than a pack of TOTAL LIARS and utter IGNORAMUSES attempting to pump up the price of their plunging yellow junk fungible little niche commodity.

          • PocoPete

            The Gold Anti-Trust Action Committee has an impeccable reputation.

          • socalbeachdude

            Impeccable for its TOTAL BOGOSITY and PILES OF ENDLESS MORONIC LIES on which it has been caught and exposed many, many times.

          • PocoPete

            The Gold Anti-Trust Action Committee should be applauded for its courageous defense of the forgotten man.

          • socalbeachdude

            The Goobers Against Truth Association (GATA) is nothing but a pack of TOTAL LIARS trying to pump gold and nothing else.

          • PocoPete

            In the long run, all such attempts to discredit the Gold Anti-Trust Action Committee will fail.

          • socalbeachdude

            GATA has totally discredited itself as a result of its endless series of total lies.

          • PocoPete

            Have you ever been to the GATA website?

          • PocoPete

            A simple web search on GATA will show that there is no mention of any lies.

          • SoCalBeachDude

            GATA (Goobers Against Truth Association) is nothing but a clueless little tiny pack of utter ignoramuses and OUTRIGHT LIARS that has been totally discredited as to nearly ever single bogus assertion they have ever made.

          • PocoPete

            Why is there no evidence on any web search of any deceptiveness or wrong doing by GATA?

          • SoCalBeachDude

            Likely because GATA is so IRRELEVANT and SO STUPID as to not be worth anyone taking the time to even mention that dumb little bunch of pumper dolts.

            The last time I recall it being RIPPED TO SHREDS FOR ITS LIES was when Jeffrey Christian, head of the CPM Group, ripped its head a new one over utterly bogus and laughable assertions regarding COMEX some years ago.

          • PocoPete

            If anyone would just take a little time to read some of the articles on the GATA web site they would find that the GATA accusations make a lot of sense.

          • SoCalBeachDude

            To whom? Clueless mindless imbeciles?

          • PocoPete

            To thoughtful, open minded people.

          • SoCalBeachDude

            Obviously NOT!

          • PocoPete

            Anyone reading the articles on the GATA website would think differently.

          • SoCalBeachDude

            No doubt, since only EXTREMELY STUPID people would ever go their to read any of their TOTAL BOGUS AND LAUGHABLY FALSE LIES AND PROPAGANDA BS!!!

          • PocoPete

            The GATA website is very informative and would be of interest to any person interested in the central banking supression of the gold price.

          • SoCalBeachDude

            Chris Powell and his tiny little band of gold pumperist dolts are as WHACKERS CRACKERS as anyone could ever be, and central banks have been DUMPING GOLD over the past 10 years and have reduced their holdings from more than 35,000 metric tonnes during that period to now less than 32,000 metric tonnes.

            The global gold markets are MINISCULE and involve less than 4,650 metric tonnes a year with about 2,500 tonnes of that coming from new mining and about 2,100 tonnes coming from recycling. The total value of those markets are less than $230 billion which is about half the size of Walmart’s annual sales and are so insignificant as to be nothing but than a TINY SPECK OF DUST in the commodities markets.

          • PocoPete

            The gold market is small compared to the market for stocks. But when the stock market has a major correction (which will happen very soon) all it will take is a small percentage of stock market investors to move a portion of their portfolio into gold to send the price of gold soaring.

          • SoCalBeachDude

            If the stock markets crash hard, all commodities including trivial little niche fungible commodities such as gold and silver will simply collapse right along with the stock markets just as was the case back in 2008-2009. Commodities are already crashing and oil blew down below $45 per barrel today on the massive glut of supply globally which is getting much worse with every passing day.

          • PocoPete

            Gold will be seen as a safe haven and will attract investors fleeing stocks and Treasuries.

          • SoCalBeachDude

            Gold is NO SAFE HAVEN AT ALL at any price above its mean of $456 per ounce which is exactly where it is headed!

          • PocoPete

            The central bank cartel is having more and more difficulty suppressing the price of gold. All cartels eventually fail in their efforts to artificially control the price of good. When it becomes obvious that the suppression effort is failing there will be an avalanche of demand for gold.

          • SoCalBeachDude

            Laughably false and very stupid assertions.

            Barry Ritholtz’s top 10 articles of faith for gold bugs:

            10. Gold talk must contain a dire macro forecast

            Your description of why gold is going higher must consist of spurious correlations, un-provable predictions, and a guarded expectation of bad things in the future. Avoid empirical data at all costs.

            9. Gold is a rejection of government

            There are no printing presses that produce gold, it is finite, natural and God created. How much we scrape out of the ground each year is limited, and the only variable to the old equation. (Just ignore Man’s natural tendency to organize into to City-States over the past 12,000 years).

            8. Never admit that gold is basically a sucker bet

            Never discuss how in the last century, gold has run up only be to trounced in repeated massive sell offs. Do not discuss how this has happened in 1915-20, 1941, 1947, 1951-66, 1974-76 1981, 1983-85, 1987-2000 and 2008.

            7. Gold will survive after the world economy crumbles

            Gold is the ultimate currency, as it has a value that will survive even after the whole world tumbles around you. Get yourself some gold coins and a Glock and you will be just fine when the whole world goes to hell in a hand basket. We welcome the era envisioned in the movie Mad Max.

            6. Gold works if the economy is bad or good

            When we have a red hot economy, gold is your hedge against inflation. When we have a bad economy, gold is a safe harbor against collapse. It is a one way trade that never fails!

            5. Government money-printing drives gold up

            NOTE: You must ignore, for the moment, that gold has not gone higher for the past 2 years as Central Banks around the world have ramped up QE. This only means that ultimately, gold will go much much higher.

            4. The world will revert to the gold standard

            It is inevitable that we will return to a gold standard. We all know this to be true. When we compare the size of the money supply to past amounts when there was a gold standard, we can derive prices of gold in the $7,000, $10,000 even $15,000. Hence, we know it’s cheap even at $2,000.

            3. Gold doesn’t fall, it’s manipulated lower

            When gold’s price falls, it is an unnatural act. It can only occur as the result of an international cabal of Central Bankers and politicians. It’s a conspiracy, and we know who the guilty parties are.

            2. When gold rises, it’s despite the manipulators

            This is the corollary to the prior Rule of Gold manipulation. When the price of gold runs up, it does so despite the overwhelming opposition to it.

            1. Gold is a currency

            This is rule No 1, and is inviolate. Gold is not a decorative or industrial metal; it is a permanent store of value, as dictated by Greeks in Lydia around 700 B.C. And, thus shall it ever be.

          • PocoPete

            As long as gold serves as an alternative to a corrupt fiat money system it will always be a safer store of value.

          • SoCalBeachDude

            Laughably false, and NEARLY NOBODY believes any of that sort of nonsense at all, and gold is headed towards and to its mean of $456 per ounce and then lower.

            Barry is 100% correct as to what he stated in his 10 rules above!

          • PocoPete

            There are a great many people who believe that the price of gold will rise above $5000 per ounce by the end of 2017.

          • SoCalBeachDude

            There are far less than 1/2 of 1% of the people in the world that speculate at all in gold and the market for that stuff is so tiny as to be totally miniscule and utterly irrelevant.

          • PocoPete

            The number of people investing in gold will increase greatly when the stock market crash occurs.

          • PocoPete

            The articles on the GATA website are very truthful and of great interest to anyone concerned with the economy of the US and the world.

          • jgibbsphd

            Wanna bet a one once gold bar on that exceptional lie? By the end of 2017, lets see if gold has dropped anywhere close to what you predict, or if some expect, it has risen in value, FRN value that is.

            C’mon, put your gold, errr, FRN’s in your case, were your mouth is ….dude!

            J Gibbs, PhD

          • socalbeachdude

            Gold is headed towards and to its mean of $456 per ounce over the next 15 years.

          • GSOB

            Yep, the Federal Reserve has more political power than the politicians do…ask President Trump.

          • socalbeachdude

            Absolutely false. The Federal Reserve has NO POLITICAL POWER AT ALL and never makes any decisions based on politics at all.

          • GSOB
          • socalbeachdude

            What utterly bogus nonsense.

          • GSOB
          • James

            In 1967, The CIA Created The Label “Conspiracy Theorists” To Attack Anyone Who Challenges The “Official” Narrative.

      • rant1200 .

        Here we go again.The Devil’s advocate is tireless.

        • socalbeachdude

          Just stating the clear and obvious FACTS.

          • PocoPete

            Others may have different facts.

          • socalbeachdude

            This is no such thing as different FACTS.

          • PocoPete

            Actually, there is such a thing as different facts.

          • socalbeachdude

            Obviously not, as you apparently don’t even comprehend the meaning of the words FACTS.

          • PocoPete

            I understand facts very well.

          • socalbeachdude

            Obviously not, as facts are incontrovertible.

          • PocoPete

            My understanding of facts are incontrovertible also.

          • socalbeachdude

            Your stupidity is far beyond mind boggling.

          • PocoPete

            I believe in the facts.

          • socalbeachdude

            Obviously not in the slightest!

        • aldownunder

          Just doin his job
          Defending his employer the Fed

          • socalbeachdude

            Laughably false.

      • jakartaman

        You Poco need to find a room

      • Stuey

        Wow….PocoPete is kicking your butt in upvotes and he doesn’t even have to upvote himself like you do! hahaha

        • socalbeachdude

          Oh, get a clue dude.

          • Stuey

            I got a clue! And the clue is—-more people think you are nuts than PocoPete OBVIOUSLY…….hahaha!!!

      • jgibbsphd

        Several weeks ago when the US $ index was above 100 and falling, this is the same nut job who stated the dollar index would be @120 “or higher” by June. Well, its June 6, and it is still below 100 @ 96. A colossus of a miss !

        Take this nut’s advise at your own peril.

        • socalbeachdude

          All currencies are backed by the current and future assets and current and future labor and productivity of the citizens of the issuing country and the US is by far the largest single country economy in the world with an $18 trillion GDP with no other country even coming close.

          There is no other currency that can even begin to challenge the supremacy of the US dollar.

      • GSOB

        Yeah right, and the foundation has nothing to do with the house.

        • socalbeachdude

          Huh?

    • aldownunder

      Exactly gold is an excellent safe haven asset but you must hold physical there could come a time when ANYTHING paper is totally worthless (except toilet paper…..ha ha)

      • IronBelly

        Maybe hold a little physical silver also.

        • aldownunder

          Yes silver is way undervalued and comes out of the ground at about an 11:1 ratio to gold so lots of upward potential there

          • socalbeachdude

            Silver is ABSURDLY OVERVALUED at any price above its mean of $8 per ounce and is headed rapidly towards and to its mean and then likely much lower.

          • PocoPete

            Silver is extremely undervalued today. Silver’s strong new bull market this year is both far too young and far too small to putter out in the short term.

            The price of silver remains quite low in both absolute terms and relative to gold, its primary driver.

            The price of silver will exceed $60 an ounce by the end of 2017.

          • socalbeachdude

            Laughably false. Silver is headed towards and to its mean of $8 per ounce and then likely lower over the course of the coming year and years ahead. It plummeted a full 90% from $50 an ounce first reached back in January 1980 (37 years ago) to $4 an ounce over the 22 year period up to 2001 and this time around will be no different.

          • PocoPete

            Silver will definitely be moving much higher this year.

          • socalbeachdude

            The 37 year return on silver from its January 1980 high of $50 per ounce is now around a NEGATIVE 70%. Adjusted for inflation the return is now down well over -100%.

          • PocoPete

            The central banks manipulation of the gold and silver markets will quickly come to an end resulting in these metals being prices correctly, which is much higher than todays levels.

          • socalbeachdude

            Central banks including the Federal Reserve couldn’t give the slightest bit of a hoot about those metals which have a value of less than 1% of global assets and are of NO FINANCIAL SIGNIFICANCE WHATSOEVER in the global economy.

          • PocoPete

            The Federal Reserve and US Treasury support this fraud and manipulation, because the suppression of precious metal prices protects the value and status of the US dollar as the world’s reserve currency and prevents gold and silver from fulfilling their role as the transmission mechanism that warns of developing financial and economic troubles.

          • socalbeachdude

            Laughably false. There is no “fraud” or “manipulation” at all as to anything in regards to prices of metals and ALL METALS PRICES ARE PLUNGING because they are VASTLY OVERPRICED relative to demand.

            Silver and gold are just tiny little niche commodity metals of NO FINANCIAL RELEVANCE WHATSOEVER and that has been the case all the way back to the 1930s when the absurdly stupid 60 year “gold standard” experiment was totally discarded as a FAILED EXPERIMENT in the US as to all domestic purposes.

            The total annual global gold market is so tiny that it is LESS THAN 50% OF WALMART’S ANNUAL REVENUES and consists of only around 4,650 metric tonnes and the silver markets are vastly smaller in terms of value than gold.

          • PocoPete

            On Dec. 2 of this year, Germany’s Deutsche Bank settled on a $60 million agreement to pay investors financially wronged from their actions in manipulating gold prices in the commodity markets.

            This settlement comes just a month and a half after they also accepted responsibility for rigging silver prices, and promised regulators they would testify against other banks who also participated in market fraud in the precious metal markets.

          • socalbeachdude

            That was nothing but yet another obnoxious HARASSMENT SUIT AGAINST DEUTSCHE BANK and it was settled as a nuisance suit just to make that issue go away and settled for a tiny little bit of money.

          • PocoPete

            The Deutsche Bank only settled after the facts made it obvious that the manipulation had taken place. This will pave the way for investors to go after other central banks and the Federal Reserve.

          • socalbeachdude

            There was NO “MANIPULATION” of any sort related to Deutsche Bank and the gold markets and the Federal Reserve has NOTHING WHATSOEVER TO DO WITH ANY TRANSACTIONS OF ANY SORT in the gold markets which are tiny little markets primarily based in London.

            All you are doing as to all of your “positions” is recycling totally discredited and bogus GATA GARBAGE as is now totally obvious for all to see. Not even the dolts and imbeciles at ZeroBrains are as stupid and desperate as those over at GATA.

          • PocoPete

            The Gold Anti-Trust Action Committee is a reputable and honest organization.

            If not for the Zero Hedge website I would never have discovered The Economic Collapse Blog. The ZeroHedge website frequently posts copies (with credit given to Michae l Snyde r) of the articles by him.
            I highly recommend the ZeroHedge website as well as the gata (dot) org to anyone who is interested in learning about the economy.

          • socalbeachdude

            GATA (Goobers Against Truth Association) is as FRAUDULENT AND AS DISREPUTABLE as any organization could ever possibly be.

          • PocoPete

            The Gold Anti-Trust Action Committee is very reputable and honest.

          • socalbeachdude

            GATA is nothing but a tiny little pack of totally discredit disinformationists and desperate little liars.

          • PocoPete

            The people at GATA are dedicated to restoring our economic freedom.

          • SoCalBeachDude

            What totally laughable and utterly bogus nonsense. They are nothing but a bunch a pathetic lying little gold pumpers whose ships are sinking into the abyss as the price of gold plummets.

            Gold has NO FINANCIAL RELEVANCE WHATSOEVER in today’s economy and never did for any floating commodity value. Gold is one of the most HIGHLY VOLATILE MANIC-DEPRESSIVE COMMODITIES IN THE WORLD with the biggest price swings of any commodity and is just EXACTLY THE OPPOSITE of any sort of stable thing.

          • PocoPete

            The GATA organization is doing a fine job of exposing the price manipulation of gold.
            Gold is becoming more and more important as a currency as the US dollar becomes increasingly debased.

          • SoCalBeachDude

            Absolutely and category bogus and totally false assertions.

            Central banks have DECREASED THEIR HOLDINGS OF GOLD BY AROUND 10% OVER THE PAST 10 YEARS from around 35,000 metric tonnes to the present level of around 32,000 metric tonnes.

            Chris Powell is an UTTER IDIOT AND IMBECILE WITH ZERO CREDIBILITY and has done nothing but OUTPUT BLATANTLY FALSE PROPAGANDA over the years as head of the Goobers Against Truth Association (GATA) and Jeffrey Christian of the CME has torn him to shreds multiple times for his utter lack of knowledge and preposterous misconceptions and outright lies regarding gold and the commodities markets.

          • PocoPete

            A simple web search for Chris Powell of GATA will show there is no suspicion of any deceptive accusations against him or GATA at all.

          • bc

            And there is no water in the ocean and the sky is not blue !!! LMAO !!!

          • socalbeachdude

            Huh? Are you really so devoid of logic?

          • Sigh

            Tell you what: if you’ve got any silver, I’ll buy it right now.
            At this moment the spot price, which you insist is too high, is $17.52. I’ll give you $18, okay? And next year when silver roars to $600 and even higher, I promise not to laugh.

          • socalbeachdude

            Silver is on its way towards and to its mean of $8 per ounce and then headed even lower towards $4 per ounce.

          • jgibbsphd

            And the value of an FRN is headed where? Paper with green ink vs a real precious metal with a thousand uses? I’ll take the metals any day.

          • socalbeachdude

            The US dollar will continue SOARING UPWARDS and is the most used and most desirable currency in the world. Outflows of money have virtually been STOPPED FROM CHINA causing most all of the deals in Hollywood to blow up and have severely curtailed real estate speculation by the Chinese around the world.

          • dlewenz

            I would bet it hits 20 dollars not 60, heck we are half way through the year

          • socalbeachdude

            Silver is on its way to $8 per ounce, its mean, and then headed much lower. There is a VAST OVERSUPPLY (OVERHANG) of silver in the markets and very little demand for the stuff.

          • Paleface

            Silver is a good investment because of growing industrial demand. Around the world new discoveries are made to make better use of silver. So I can’t see your point about silver heading much lower.

          • bc

            More copy & paste BS ! …LOL

          • socalbeachdude

            Huh?

          • LIZ THE SHIZ

            God, you are a paid troll who probably makes comments like these on other finance sites to make poor insecure suckers sell their positions and you get 1 penny per post.

          • socalbeachdude

            Laughably false. Try to get a clue!

          • Stuey

            How do you derive at this mean price you keep quoting?

          • socalbeachdude

            Mathematically, obviously, based on the prior price history of gold. Hellloooooo?

          • Paleface

            did u study in Somalia?

          • socalbeachdude

            Hardly, but that may describe YOU!

          • Stuey

            Based on price history? Are you serious? What a absurd comment to make. But lets take it at face value, if it is mathematically obvious then why don’t you do the math for me, shouldn’t be hard to figure out the average price of gold over thousands of years.

          • socalbeachdude

            Have you looked at the price of gold from 1793 up to present? Wasn’t the greatest virtue of gold relative to financial uses that it was nearly totally stable in price from 1793 until 1933 with the only real exception being during the few years of the Civil War? And after gold was unpegged in price and allowed to trade on the commodities exchanges hasn’t it been nothing but a wildly cyclical commodity with vast price swings of as much as 2300% up and 70% down?

            http://onlygold.com/tutorialpages/prices200yrsfs.htm

            The price of gold is ANYTHING BUT STABLE and gold has been one of the MOST EXTREMELY VOLATILE COMMODITIES of all commodities in the world for the past 42 years since 1972. Prior to0 that time when gold was first allowed to trade on the commodities exchanges and in the forwards and spot markets for a floating price, the price of gold was very stable from 1793 to 1933 when it stayed at right around $20 per ounce before being increased to $35 per ounce.

            Moreover, the total value of all of the 180,000 metric tonnes or so of gold ever mined in the history of the world is less than $7 trillion which is less than 1% of all global assets and about 70% of that is in the form of privately held jewelry leaving only about $2 trillion that could even theoretically be used in the form of bullion and only about $1.24 trillion of that is owned by governments or their central banks.

            The total value of the US government gold holdings which are the largest in the world at about 8,200 metric tonnes is only a little more than $11 billion according to the latest report from the US Treasury based on the current US government official gold price of $42.22 per ounce which is euqal to a few days worth of the current federal deficit spending. Even when valued at the current market price of gold at about $1,183 per ounce, the total value of the US government gold holdings (which would take a very long time to sell off) is less than $350 billion which is equal to less than 4 months worth of the current US government deficit.

          • jgibbsphd

            I will gladly pay you $8 FRN for every once of pure silver you will depart with. Put your money where you lying mouth is !!

          • socalbeachdude

            What a “once” of pure silver? I have a vast collection of silverware in my formal dining room and it is quite a task to keep the stuff polished now that Beulah is gone.

          • aldownunder

            Good for you
            Then you woke up and you were at you desk at the Fed trolling the ECB

          • socalbeachdude

            What utterly bogus nonsense. Get a clue.

        • socalbeachdude

          You must really love LOSING MOST OF THE FUNDS that you put into speculative nonsense like the metals.

          Silver has plummeted nearly 70% since its manic high of $50 per ounce on September 5, 2011 and is only around $17 per ounce, and it is also down about 70% from its manic high of $50 per ounce first reached 37 years ago in January 1980. There is a vast excess of silver in the markets and it is headed to its mean of $8 per ounce and then lower.

          The US dollar is up about 140% over the the past 5 years in its purchasing value against silver which has plummeted about 70% today from its manic speculative high of $50 per ounce on September 5, 2011 (not to mention that silver also his that price 37 years ago all the way back in January 1980!).

          • Carol B

            This socalbeachdude doesnt know what the hell he is talking about concerning metals. Humm, the elites and rich, and countries are sure buying a hell of a lot of metals just follow the money and read past history!

          • socalbeachdude

            I know extremely well what I am talking about regarding metals, but obviously YOU ARE UTTERLY CLUELESS. Gold has PLUMMETED 35% over the past 6 years while silver has PLUMMETED 70% over the same period of time since September 5, 2011 when they reached their absurd and preposterously bogus manic speculative highs. I would suggest you learn about the EXTREME VOLATILITY of that stuff and learn about the 40 year history of it which has been marked with MANIC HIGHS AND MAJOR PLUNGES and now we are in a major down cycle which will likely last at least another 15 years from 2011 when it started.

          • Carol B

            Yeah they topped out, but they will be coming back with a vengence very soon. Just like stocks and real estate, they all run in cycles so you need to go back further then 2011. In 1987 gold was 850 which is equivalent to thousands of dollars today and 50 an ounce then. Gold was 275 in 2000 and silver was 4.75 an ounce. So, gold went from 275 to 1900 an ounce from 2000 to 2011 and silver from 4.75 to 50 from 2000 to 2011. So, i dont know what your point is because all financial assets go up and down but the metals is the real money. You never answered why the rich and a lot of countries are dumping the dollar for the metals. They certainly wouldn’t be buying if it wasnt a store of wealth or real money! So, you better get ready for the financial reset and store your fiat currency in the metals or you will lose everything focusing on when they go and down rather than cycles!

          • Stuey

            drugheaddude can’t comprehend logic

          • socalbeachdude

            That certainly describes you perfectly!

          • Stuey

            Is that the best you got? Can’t you come up with some new material?

          • socalbeachdude

            No, those preposterously overpriced metals will be plunging towards and to their means of $456 per ounce for gold and $8 per ounce for silver and then headed significantly lower.

          • Paleface

            And in the mean time the US$ plummeted 97-98% since 1913. Only a few more % to go to zero. Unlikely to last 15 years. How about gold and silver? I know what I like to hold in my hand when the SHTF…..

          • socalbeachdude

            Laughably false. The $1 US dollar is still worth exactly $1 just as it clearly states on it.

          • Stuey

            Now that’s funny! Btw, it is a Federal Reserve Note, get the proper name down.

          • socalbeachdude

            Every printed US dollar is a Federal Reserve Note. Obviously. So what?

          • bc

            He’s a copy & paste goober probably paid a few cents a piece for each one by George Soros ! LOL Why did traitor Soros and JP Morgan Chase load up on gold & silver about a year ago ???

          • socalbeachdude

            What utterly false and bogus nonsense.

          • socalbeachdude

            They didn’t do that at all.

          • bc

            Oh sure !! and the Federal Reserve was created for the good of every American citizen !! Everyone should relax, the economy hasn’t been better !!

          • socalbeachdude

            The Federal Reserve is MERELY A CENTRAL BANK and a very excellent central bank and nothing else. It is not some sort of government welfare agency or charity and acts as a wholesale central bank that does not even deal with the public but rather only with member banksl. The biggest issues facing the Federal Reserve is the 3 mandates that were amended onto the Federal Reserve Act in 1977 by Congress.

            That amendment dictates that the Fed “promote effectively the goals of maximum employment, stable prices and moderate long-term interest rates.” That balance between modest inflation and low unemployment is, in essence, the purpose of the Fed — not to make sure your savings account yields 5%.

            The fact of the matter is that actual unemployment fully measured is now around 32% and not the 5% determined by the BLS using the U-3 metric which totally ignores the nearly 102,000,0000 people fully eligible for the work force who are presently not working in the US.

          • bc

            WOW ! I can finally agree with something you post ! (unemployment is 32%, instead of the 5% quoted by BLS)

          • socalbeachdude

            Central banks have reduced their gold holdings by around 10% over the past 10 years from around 35,000 metric tonnes to currently around 32,000 metric tonnes of gold bullion.

            http://www.Gold.org

          • pulltheweeds

            best thing to do is block that moronic troll.
            talk about ocd

      • socalbeachdude

        There is nothing even slightly “safe” about gold at any price above its mean of $456 per ounce.

        • bc

          Keep on drinking that kool-aid dudette !!!

          • socalbeachdude

            Get a clue.

          • GSOB
          • socalbeachdude

            All currencies are backed by the current and future assets and current and future labor and productivity of the citizens of the issuing country and the US is by far the largest single country economy in the world with an $18 trillion GDP with no other country even coming close.

            There is no other currency that can even begin to challenge the supremacy of the US dollar.

            As to “tangible” stuff (thingies) all of the assets purchased by the US dollar including all of the goods and services in the economy as well as all commodities which are all priced in US dollars and the total value of all of those thingies adds up to vastly more than the total amount of dollars in the broadest M2 measure of the US dollar which is only about $13.5 trillion US dollars in US banking institutions. The total value of all household assets alone in the US now exceeds $92 trillion based on current valuations.

          • aldownunder

            Your onto him

          • socalbeachdude

            You’re both on something and seem to have a very difficult time comprehending the actual facts as I have very clearly stated.

        • Stuey

          How do you derive at this mean price for gold?

          • socalbeachdude

            Mathematically, obviously, based on its clearly recorded past price history.

          • Stuey

            Do the math for all us idiots. And why are you only comparing the price of gold based in federal reserve notes? You forget that gold was around LONG before 1913 when the federal reserve was formed. So using it’s value in US Dollars before that is irrelevant to your calculation besides how it was valued even before the USA was ever formed. You are basing the price of something on your little short term memory of your little short term perceptive of history and time.

          • socalbeachdude

            From the years 1793 until 1933 the price of gold was mostly very stable at around $20.00 per ounce and then the fixed price of it was increased to $35 per ounce by the US government in 1933. It stayed relatively stable at around $35 per ounce until late 1971 when gold bullion was allowed to be traded in the commodities markets.

            At that stage gold became an EXTREMELY VOLATILE SPECULATIVE COMMODITY with huge price increases and huge price plunges and that is where it remains today and is now 4 years into the biggest price plunge that gold will have ever seen historically when that finishes. The last massive price plunge down cycle for gold lasted 22 years from January 1980 until late 2001 during which time it plummeted 70% in price.

            At any price above $456 per ounce gold is preposterously overvalued and that speculative froth will rapidly be blown off the top.

            THE ISSUE IS THE PROPER PRICE OF GOLD.

            An array of reasonable historical metrics can be used to establish the proper price of gold, including:

            1) Its historical mean which would put gold right around $456 per ounce

            2) Its 16:1 historical ratio against silver which would put gold right around $280.48 per ounce based on silver being around $17.53 per ounce

            3) Its inflation adjusted price today from its last stable historical price of $35 per ounce in 1971 which would put gold right around $400 per ounce.

            4) Its current official US government price of $42.22 per ounce which is how the approximately 8200 metric tonnes of US government gold are valued:

            http://www.fiscal.treasury.gov/fsreports/rpt/goldRpt/current_report.htm

            The Federal Reserve couldn’t give the slightest hoot about gold as it is a trivial little collectible niche commodity that has ZERO FINANCIAL RELEVANCE and has a total value of less than $7 trillion for all of the gold that has ever been mined, and about 70% of which is in the form of jewelry widely dispersed around the world.

          • Stuey

            So gold was $20 an ounce in 1793. WOW, how much would that be in today’s dollars since the federal reserve notes have lost 98% of their value since 1913. Based on that, seems gold is undervalued now.

          • SoCalBeachDude

            Nearly everyone from 100 years ago is now dead and they were paid a tiny miniscule fraction of what people are paid today.

            As to the value of the US dollar over the past 100 years…

            No, the dollar did NOT really lose 95% of its value since 1913

            Let us take at the period from 1913-2006, where we have complete data. So what do they mean, when they say the dollar lost 95.1% of its value in those 93 years? Essentially, an average good/service that cost $1 in 2006, used to be priced at 4.9 cents in 1913. In other words, the average price level of goods/services increased by 1930% since 1913. True, but guess what, average earned income increased by 6560% during the same time period. Average earned income rose from $740/yr in 1913 to $49,300/yr in 2006. Adjusting for inflation, $740/yr in 1913 is $15,000/yr in 2006 dollars. Average incomes, not only kept pace, but beat price inflation by 230%.

            So does it make any sense all to say the dollar lost value? In reality, the REAL purchasing power of the average American, has increased by 230% in the past century. Sure, prices were cheap in 1913, but $740/yr doesn’t buy you a whole lot, not anymore than 15,000/yr today.

            http://realfactbias.blogspot.com/2012/02/no-dollar-did-not-really-lose-95-of-its.html

          • Stuey

            Once again you are calling the author of this blog a liar because he has wrote MANY times about the decrease in the value of the dollar since 1913. Why he continues to let you come on here and post things the exact opposite of what he says is telling.

          • SoCalBeachDude

            Once again, you appear to be totally FACTUALLY CHALLENGED and incapable of comprehending the facts related to WAGES PAID TO PEOPLE over the past 100 years which are very clearly explained and documented in the article I posted above.

            Moreover, If someone put $20 in a bank account at 5% interest in 1910 instead of buying $20 worth of gold (a 1 oz. gold coin back then), the value of that bank account would now be $2,630.00 which would be worth about $1,370.00 more than the value of the gold coin or a whopping 191% more than the value of the gold coin. Run the numbers for yourself at:

            http://www.moneychimp.com/calculator/compound_interest_calculator.htm

            Either way there would have been or would be tax consequences. The interest over the 100 years would have been taxed at ordinary income tax rates to the account holder. The capital gains on the gold coin when sold now to turn it back into cash would be taxed at 28% of the capital appreciation which would be $1,268 ($1,260 / oz./ less original $20 cost basis) and 28% of that would be $352.00 so the net proceeds after tax from your original gold investment 100 years ago would be $916.00 as compared to the $2,630.00 that you would have (less the taxes on interest over the years) from having the same amount of money ($20) in a bank account at 5% interest which was available for most of those 100 years. Gold comes out the clear loser.

            Not to mention that over the past 6 years since September 5, 2011, gold has plummeted 35% in value so someone who paid $100,000 for gold on September 5, 2011 would have lost $35,000 and their “investment” would be worth only $65,000. So much for gold being a “store of value!”

        • CASTIEL

          Shut the f#ck up!!!!! Gold is safe because it cannot be printed like the f#cking money!!!!! It cannot be replicated…… you moron!!!!!!!!

          • aldownunder

            Exactly

          • socalbeachdude

            Not.

          • SnodtBlossom

            Castiel
            É um Portuguese saco de imundície

          • CASTIEL

            Go to your hole you f#cking little ugly mouse….

          • socalbeachdude

            There is nothing in any way “safe” about gold at any price above $456 US dollars.

        • jgibbsphd

          Oh yea, so what is the REAL value of paper with green printing ink worth? During the past 200 or so years, how many Fiat currencies have come and gone while GOLD has still held a value?

          Were are those 100 TRILLION Zim notes today, and how much can you buy with one? Bolivars? Continentals? Old Rubles? Arg. Pesos? etc, etc, etc?

          In 1930, a $20 bill or gold piece would buy a nice suit, but today, a $20 FRN will not even buy a nice dinner out. However, that same $20 gold piece will buy a nice suit and still have dinner out for 2. !!!!

          • socalbeachdude

            Gold is nothing but one of the world’s 27 commodities which is priced in US dollars and it is at absurdly elevated levels far removed from any reasonable valuation and headed for huge crashes towards and to its mean of $456 per ounce and then lower. It cannot be used anywhere in the world as any form of currency at all, although you may use a 1 oz. gold American Eagle for its stated value of $50 anywhere that US dollars are accepted as legal tender.

      • Totally Agreed

        You took the words right out of my mouth. PHYSICAL GOLD AND SILVER! NOT pieces of paper saying that you allegedly bought some imaginary gold and silver that’s allegedly housed somewhere else in the universe…

        • socalbeachdude

          What utter nonsense. There is no difference whatsoever in the price of gold regardless of any form in which it is held.

          • jgibbsphd

            Uhhmm, maybe you should try that idea out in the real world? There are a few nations and locales that will gladly accept REAL gold for goods, but would not give you a stick of gum for those pieces of paper. Then there are the “over spot” exchange rates for REAL metal vs paper prices, and not to mention when all those pieces of printed paper collapse against holding REAL gold in your hands/safe/vault.

            Oy Vey! Moron.

          • socalbeachdude

            Gold is not accepted anywhere in the world for its bullion spot price in any sort of transactions. You may however, use a 1 oz. gold American Eagle as legal tender currency for its face value of $60 anywhere in the world where US dollars are accepted as currency and that is nearly everywhere.

          • wizard

            cognitive dissonance. . . . whatever works for you. Must be nice to live in your own reality.

          • socalbeachdude

            What I stated is 100% true, accurate, and fully correct. Gold is NOT ACCEPTED anywhere in the word for a value equivalent to its commodity markets spot price, but is ONLY ACCEPTED as to the extent it is in the form of a LEGAL TENDER COIN with a specified face value which in the case of a 1 oz. gold America Eagle exactly $50.

            IF you “believe” otherwise, then that is nothing but “cognitive dissonance” in your own little head which refuses to accept and comprehend the actual facts.

        • Jeri Brace

          lol, got that right!

          Germany has wanted for years to see the physical gold the federal reserve bank is holding or safekeeping for them in New York but has absolutely refused to let them see the gold for themselves which means more than likely the Federal Reserve doesn’t have it & are lying to them and everyone else as usual.

          • socalbeachdude

            Absolutely false and extremely stupid assertions from you.

            Germany had 1500 metric tones of their around 4400 metric tonnes of gold stored at the Federal Reserve New York Branch. They requested the return of 300 metric tonnes of gold from the Federal Reserve and are keeping the other 1200 metric tonnes on storage at the Federal Reserve New York Bank and the transfer of the 300 metric tonnes was completed WAY AHEAD OF SCHEDULE.

            Germany brings back 300 tons of gold it had been keeping in an underground vault in New York since the Cold War

            Germany has completed an effort to bring home 300 metric tons of gold stashed in the United States, part of a plan to repatriate gold bars kept abroad during the Cold War.

            The German central bank said it brought 111 tons of gold back from the Federal Reserve in New York last year, concluding in September – the last of 300 tons slated for return.

            The gold was earned by West Germany from trade surpluses in the 1950s and 1960s, but was never moved out of the United States due to fear of invasion by the Soviet Union.

            In 2013 Germany launched the transfer to Frankfurt of 300 tons of gold from New York and 374 tons from Paris.

            The bank also repatriated 105 tons of gold from Paris last year, but still has another 91 tons to return from the French capital, and said it plans to bring them back in 2017.

            Once the transfers are completed, Frankfurt will hold half of Germany’s 3,378 tons of reserve gold, with the rest in New York and London.

            ‘The transfers were carried out without any disruptions or irregularities,’ said Carl-Ludwig Thiele, board member of the central bank, called Bundesbank.

            Thiele said there would not be any further transfers and Donald Trump’s presidency didn’t change the situation.

            ‘We have a trusting relationship with the Fed,’ he said.

            As of December 31 last year, there were 1,236 tons of German gold in New York – 36.6 percent of the total.

            The bank has not released any details as to how it transported the gold home.

            The original plan was for the transfers to be completed by 2020, but the bank brought forward the transfers.

            http://www.dailymail.co.uk/news/article-4214894/Germany-brings-300-tons-gold-New-York.html

  • socalbeachdude

    Because they’re not stupid like the scores of millions of little manic speculators infesting the US and global stock markets!

  • socalbeachdude

    Many stocks are now ALREADY COLLAPSING and have been doing so over the past year in increasing numbers and severity. The market indices are now being held up by only a TINY HANDFUL OF ABSURDLY OVERVALUED STOCKS and when they run out of a SUPPLY OF GREATER FOOLS, then the whole “markets” perceptions and prices come crashing down.

    According to Goldman, a mere 10 stocks — 10 stocks — account for almost half the S&P’s gains for the year.

    Forty-six percent, to be precise.

    This year’s bull’s-eye stocks are the so-called FAANGs — Facebook, Amazon, Apple, Netflix and Google.

    Rounding out the top 10 are Visa… Philip Morris… Oracle… Home Depot… and Broadcom.

    Most other stocks are zeroes — or worse.

    David Stockman in yesterday’s reckoning:

    “During the last 70 days, the FAANGs have gained $260 billion in value, while the other 495 companies in the S&P 500 have lost an identical amount… Other than the five FAANG stocks, the market has been silently collapsing since March 1.”

    Meanwhile, recent data from Fundstrat Global Advisors reveal that just 40 stocks out of 500 — 8%, that is — account for some 85% of the S&P’s gains this year.

    https://dailyreckoning.com/new-financial-weapons-mass-destruction/

    • CallingElvis

      So socialbeachdude – if the stock market implodes wouldn’t metals naturally go up? You seem to have both going down. I do think the economy is far more fragile than the media makes it sound. But do you really think we are looking at a serious near term (6 mo.s – year) correction? Or does the Fed still have some more bullets?

      • socalbeachdude

        Metals are just COMMODITIES and commodities will PLUMMET RIGHT ALONG WITH EQUITIES (STOCKS) as assets correct and revalue at much lower levels as rationality returns to the markets. Commodities in general have been PLUNGING FOR THE PAST 6 YEARS and are much lower across the board than they were 6 years ago with many down around 50% which axiomatically means that the purchasing power of the US dollar in which commodities are prices has SOARED AROUND 100% in purchasing power against most all commodities such as oil, most metals, etc.

    • Jeri Brace

      hahahaha,, so what you are saying is the con game continues until wall street runs out of fools, then The Humpty Dumpties of Wall Street come crashing down.

      • socalbeachdude

        Essentially, yes. That’s what always happens in markets when GREED RUNS WILD as is the case now and then FEAR takes over.

  • Jeri Brace

    with all the reports of overvalued stock on the market you would think members of the Federal Trades Commission are accepting bribes to allow corporations to just blatantly lie about what their stocks are worth because the lies & deception on wall street are hitting an all time high.

    • socalbeachdude

      Companies NEVER make any assertions as to what their stocks are worth. That is was INDEPENDENT ANALYSTS do. Companies merely report their actual financial statements and provide guidance as to future earnings.

      • Clemenzza

        Sure they do. They repurchase treasury shares of their stock and as a result increase EPS and get the price where they want. I think all the SoCal air is affecting your thought process Knumbnuts.

        • socalbeachdude

          Huh? That has nothing whatsoever to do with any ASSERTIONS OR STATEMENTS made by corporations. Get a clue, dude.

  • PocoPete

    “The Path To Inflation: “Helicopter Money”” is an excellent article just posted on the ZeroHedge (dot) com website. I highly recommend it to anyone concerned with inflation.

    • socalbeachdude

      There is no such thing as “helicopter money” and no such thing has ever been used in the history of central banks nor will it ever be used. The Federal Reserve DOES NOT GIVE MONEY TO ANYONE INCLUDING MEMBER BANKS and only makes LOANS WITH INTEREST AT THE FEDERAL DISCOUNT RATE TO SOLVENT BANKS IN NEED OF VERY SHORT TERM (TYPICALLY OVERNIGHT) LIQUIDITY. I highly recommend that you GET A CLUE and stop wallowing in absurd and mindless bogus fantasies.

      • PocoPete

        It has not been resorted to yet, but there is most certainly a concept of “Helicopter Money”.

        • socalbeachdude

          Nor will such a NUTTY NOTION ever be “resorted to” as that is SIMPLY NOT HOW THE FEDERAL RESERVE AS A CENTRAL BANK EVER DOES ANYTHING nor would it ever considering doing something so stupid.

          • PocoPete

            The idea of “Helicopter Money” was put forth by former Federal Reserve chairman Ben Bernanke. Helicopter Money is definitely a tool that the Federal Reserve and other central banks would resort to if they became desperate.

          • socalbeachdude

            Bonkers Ben was total whacktoidal and never seriously put forth any such notion at all and the Federal Reserve 7 member BOG (Board Of Governors) would have never done anything other than TOTALLY LAUGH AT SUCH UTTER NONSENSE as they have no authority to do any such thing and such behavior is TOTALLY PROHIBITED BY THE FEDERAL RESERVE ACT as it would totally destroy the asset values at the Federal Reserve RENDERING IT INSOLVENT.

          • PocoPete

            Governor Bernanke discussed Helicopter Money in a speech before the National Economists Club on November 21, 2002.

            The text of this speech can be found on the federalreserve (dot) gov website.

          • socalbeachdude

            And everybody LAUGHED UPROARIOUSLY and at that stage the jackass became known as BONKERS BEN!

          • PocoPete

            There is no mention of any laughter on the Federal Reserve website where the text of this speech is preserved.

          • liketalkingtoabrickwall

            Beach dud loves making up facts to support his cognitive dissonance.

          • socalbeachdude

            What an utterly bogus assertion.

          • PocoPete

            This assertion seems to fit the facts.

          • socalbeachdude

            Only your fantasy delusions, dude.

          • PocoPete

            My observations are correct.

          • socalbeachdude

            Your delusions are DEAD WRONG.

          • PocoPete

            My observations are accurate.

          • socalbeachdude

            Laughably false and totally delusional not to mention just plain ignorantly stupid.

          • PocoPete

            The soundness of my observations is fine.

          • socalbeachdude

            Obvious not, as you are DEAD WRONG on nearly 100% of your laughably false and utterly bogus assertions which sound like they come for the LYING PLAYBOOK of the imbeciles and morons at GATA (Goobers Against Truth Association)!!!

          • PocoPete

            The Gold Anti-Trust Action Committee is working diligently to expose, oppose, and litigate against collusion to control the price and supply of gold and related financial instruments.

            Using the U.S. Freedom of Information Act, throughout 2008 and 2009 GATA sought access to the Federal Reserve’s gold-related records, eliciting an admission from the Fed that it has gold swap arrangements with foreign banks and insists on keeping them secret. To obtain the records at issue, in December 2009 GATA sued the Fed in U.S. District Court for the District of Columbia. In February 2011 the court ruled that most of the Fed’s gold records could remain secret but that one had to be disclosed: minutes of the April 1997 meeting of the G-10 Committee on Gold and Foreign Exchange. The minutes, released by the Fed two weeks after the court’s ruling, showed G-10 member treasury and central bank officials secretly discussing the coordination of their policies toward the gold market. The court ordered the Fed to pay court costs to GATA.

          • socalbeachdude

            GATA IS THE EPITOME OF FRAUD AND OUTRAGEOUS AND ABSURD LIES.

          • PocoPete

            The Gold Anti-Trust Action Committee is an honest and reputable organization.

          • socalbeachdude

            The GATA (Goobers Against Truth Association) are as BOGUS AND TOTAL LIARS AS THEY COULD POSSIBLY BE.

          • PocoPete

            The Gold Anti-Trust Action Committee is very much a truthful and highly reputable organization.

            Why is there work so important you may ask?

            Former Fed chairman, Alan Greenspan, made the following statement:

            “In the absence of the gold standard, there is no way to protect savings from confiscation through inflation There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.”

          • socalbeachdude

            What utter stupidity and bogus detritus.

          • PocoPete

            The Alan Greenspan statement is quite enlightening.

          • socalbeachdude

            Only as to Mr. Andrea Mitchell’s extreme stupidity and utter cluelessness!

          • PocoPete

            As Fed chairman, “Greenspan (once) recommended to a Senate committee that all economic regulations should have fixed lifespans. Senator Paul Sarbanes (D-Md.) accused him of ‘playing with fire, or indeed throwing gasoline on the fire,’ and asked him whether he favored a similar provision in the Fed’s authorization. Greenspan coolly answered that he did. Do you actually mean, demanded the senator, that the Fed ‘should cease to function unless affirmatively continued?’ ‘That is correct, sir,’ Greenspan responded.”

          • socalbeachdude

            Greenspun was as stupid as Bonkers Ben and is now totally discredited as to anything the dolt has to say.

          • PocoPete

            Occasionally the Federal Reserve does have some chair persons who are not afraid to speak the truth.

          • socalbeachdude

            Occasssionally there are some clueless morons who become chairman of the Federal Reserve BOG with the two most egregious examples being Mr. Andrea Mitchell and Bonkers Ben.

          • aldownunder

            Don’t forget Janet Yellen

          • socalbeachdude

            Janet Yellen is a lovely and bright lady and is an exceptionally excellent and sensible Chairman of the Federal Reserve Board of Governors.

          • IronBelly

            Here is a famous recent Janet Yellen quote:

            I continue to think many of the factors holding down inflation are transitory. We want to be careful not to jump to a premature conclusion about what’s in store for the U.S. economy.

          • socalbeachdude

            So, what is in any way even slightly incorrect or unclear as to that statement from Federal Reserve Chairman Janet Yellen?

          • IronBelly

            Nothing.

            I thought you might have something to say about it since earlier you predicted a “DEFLATIONARY SPIRAL”.

          • Guest

            It must be nice to be so much smarter than everybody else. I think it is the fact that you capitalize most of what you say, overuse superlatives and inject “utterly,” “laughably,” “totally,” into pretty much every comment that you make that makes you so…utterly believable. Peace out.

          • socalbeachdude

            Laugh tracks are not recorded in speech texts. Hellllllllllloooooo?

          • IronBelly

            Were you there when the laughter supposedly took place?

          • jgibbsphd

            LMAO….Yea, “quantitative easing”, a fancy term for “monetizing debt”, was never tried by the FED, until it was. Debt monetizing was the practice of third world, banana republics until the FED decided to join the “helicopter money” crowd and dump TRILLIONS of FRNs on the world.

            Print it, buy T’s, use shell companies to buy stocks, PPT, bank loans at zero or near zero rates, pump, pump, etc, etc.

            Call it what you will, but a pig with lipstick is still a pig.

          • socalbeachdude

            Absolutely false and very clueless and stupid assertions. There was no “monetization” of federal debt whatsoever with the 3 versions of QE done by the Federal Reserve.

            Not a single penny of funds from the Federal Reserve ever went into the stock markets or ever goes into the stock markets.

            QE HAS ABSOLUTELY NOTHING TO DO WITH THE STOCK MARKETS and it effectively ended on November 1, 2014.

            FEDERAL RESERVE VERSION OF QE EXPLAINED:

            1) Federal Reserve buys securities from banks

            2) Federal Reserve deposits cash proceeds in excess reserves accounts of those banks at the Federal Reserve

            3) Securities stay parked on assets side of Federal Reserve GL

            4) Proceeds funds stay parked on liabilities side of Federal Reserve GL in the excess reserves accounts of the banks at the Federal Reserve

            The process is an ENTIRELY CLOSED LOOP just as if it were done inside a VACUUM.

            http://www.federalreserve.gov/releases/h8/current/

            http://www.federalreserve.gov/monetarypolicy/bst_fedfinancials.htm

            The QE funds are sitting parked in the excess reserves accounts of the banks and none of them ever got into the economy at all as is clearly established by the evidence on that matter. The total amounts in those excess reserves accounts now exceeds $2.5 trillion.

      • jgibbsphd

        I have an inlaw who works with Credit Suisse and has over 150 bankers under his leadership, and he would gladly argue with your inaccurate statements. They have received Billions upon Billions of FRNs with much still remaining in their computers and vaults that have not been loaned but invested.

        Even he is advising his clients, all whom have $100 Million accounts and higher (mostly Asian and MidEast clients), to divest from US FRN’s, for he sees the writing on the wall for the FRN and the American “debt bomb”.

        • socalbeachdude

          What totally false and utterly absurd nonsense. The Federal Reserve has NEVER “GIVEN” ANYONE ANY MONEY NOR DOES IT SUPPLY ANY MONEY FOR ANYONE TO “INVEST” WITH AT ALL. The cluelessness of your bogus assertions is just beyond mind boggling.

          The Federal Reserve ONLY ISSUES VERY SHORT TERM (TYPICALLY OVERNIGHT) LOANS AT THE FEDERAL DISCOUNT RATE TO MEMBER BANKS and that process is now hardly ever used as banks are AWASH IN VAST AMOUNTS OF EXCESS CASH to clear overnight transaction imbalances should they arise.

          As to the US government debt is is only around 107% of US GDP which is very similar to that of the EU countries on average whereas Japan’s government debt is in excess of 250% of its GDP.

          The single best DEBT BOMB in the world is in CHINA where their $30 trillion of egregious money printing and credit creation over the past 10 years is NOW IMPLODING into a catastrophic disaster. During the same period of time the US money supply has only increased by around $4 trillion to a total of less than $14 trillion while China’s money supply of renminbi (RMB / Yuan) has increased by more than $30 trillion to over $34 trillion – despite China’s economy being around half the size of the US economy.

          BANKING PANIC BREAKS OUT INSIDE PBOC IN CHINA

          Extreme panic has broken out inside the PBOC inside China over the past week. The PBOC (People’s Bank Of China) is the central bank of China and their equivalent to the Federal Reserve. The PBOC has jacked up the overnight interbank borrowing rate to 42.8% which is equivalent to the Federal Reserve raising the Federal Funds Rate which applies to overnight interbank borrowing up to 42.8%.

          Many crises are going on inside the Chinese banking system and financial markets and that is where the epicenter of the global financial panic and collapses will be occurring which will affect the entire global economies.

  • marlene

    This leaves no doubt whatsoever that the NWO banksters are planning to CREATE a market crash! Just don’t believe fakestream media when they tell you it’s “Trump’s fault.”

    • socalbeachdude

      Laughably false and utterly absurd assertion. The reason the markets are crashing broadly right now is due to PREPOSTEROUSLY EXCESSIVE VALUATIONS driven to those levels by IDIOT MANIC SPECULATORS with zero regard for fundamentals such as PE multiples and future prospects for companies and nothing else at all.

      • marlene

        Ridiculously moronic reply! Obviously, you preach falsely with only HALF the story! I read your other comments – just as absurd!

        • socalbeachdude

          Your stupidity is just mind boggling! Go buy a clue somewhere before showing more of your idiocy and cluelessness for all to see.

          • marlene

            Sorry COCONUT, your mind was already boggled. You even have to upvote your own silly comments to get just one – LOL!

          • socalbeachdude

            Thank you for describing yourself perfectly!

          • jgibbsphd

            Your blindness and denial cries for medical attention. Your stupidity is mind boggling and presents for all to see.

          • socalbeachdude

            That does describe YOU quite perfectly!

  • Personally Opposed to Trolls

    WARNING to any newcomers to this post, who don’t already know what’s going on in the markets:

    The poster “socalbeachdude,” below, is obviously a paid troll. He must be a bank employee, hired to try to confuse and convince the ignorant masses that everything is fine. (Defend Deutsche Bank, seriously?)
    Turn every sentence he writes upside-down, and then you’ll know the real situation. Then go to Youtube and watch ANYTHING by financial gurus Jim Rickards, John Williams, Jim Sinclair, Rob Kirby, Peter Schiff, Craig Hemke, David Stockman… and they’ll confirm this. Then you’ll know what’s REALLY going on (hint: this article is absolutely right).

    • socalbeachdude

      Ludicrously false and utterly absurd assertions from you.

      • jgibbsphd

        What an absurd and moronic statement. Psychological projections from LSDude.

        • socalbeachdude

          Get a clue, dude. You’re totally out to lunch.

    • Leif Erickson

      I have the dude blocked.

    • aldownunder

      Yes I’ve always had my suspicions he was a Fed employee but defending Deutsche Bank is just about a dead set giveaway

      • socalbeachdude

        Laughably false. Deutche Bank is Germany’s largest and best bank and has long been the major bank in Deutschland and integral part of Germany’s thriving and successful economy.

  • JC Teecher

    According to a report dated last month, the figures on the non working Americans come out like this:

    “44.1 million are retired.
    15.3 million are disabled.
    14.7 million are in college or job training.
    12.9 million are taking care of a family member.
    So, of the 94.6 million Americans not working, 86.8 million are retired, disabled, taking care of a loved one, or in school.
    That leaves 7.6 million people – what about them?
    5.7 million Americans have looked for a job in the past year OR want a job but have given up searching for over a year.
    1.9 million Americans are in the shadows. We don’t know why they are not in the work force.”

    I think this was based on all adults registered as citizens 20 years old and up. So if the “Non-working Americans” figures, start at 102 million, then we should deduct the above figures, which come to about 87 million, and leaves about 15 million in the “able to work” list, but not working.

    In my opinion/guesstimate, about 50 million of the 102 non workers in american society, do contribute significantly to the economy through purchases of goods and services, from their savings, either from retirement or other assets. As these elderly die off, their life savings and net worth is gobbled up and dispersed, for the most part, by inheritance, taxes, and just plain splurging and waste.

    Soon, when all but a handful of retired boomers are left, the next retiring generation classes will have shrunk by nearly 50%, and along with that, the economy will shrink as well.
    If the Lord tarries, and time permits, we ain’t seen nothing yet, in regards to the makings of a total crash and collapse.
    The wise do put back things of true value for a day when society jumps backwards to the 1800’s, if things continue as they are, and especially if the grid goes down.
    All that paper stacked in safes and vaults will be good for replacing corn cobs in the ole out house, and not much else.

    • billtheguy

      Just to comment, I am currently seeking employment. 60% of the jobs listed, I am not qualified for, either by education or craft. (Truck Driver, Nurse, Electrician, Carpenter) 35% of the jobs are part time and $8.75 an hour, which is hard to live on. The 5% I am qualified to do, a younger worker will be hired. When I was in school, industrial arts was for the guys. I come from a family of factory workers. Now it’s haunting me.

      • sister soldier

        In my thoughts and prayers.

      • SnodtBlossom

        It’s because you are narrow-minded and try to send socal away

    • socalbeachdude

      People have always died and passed on, but today people are living longer than ever which creates massive extra demand on government welfare spending programs including Social Security and Medicare.

  • DB200

    “It happened in 2008, and it will happen again.” No, it will not happen again because then the whole financial system crashes. The central banks will step in and monetize the stockmarket i.e. buy all the stocks by printing money out of thin air.

    • socalbeachdude

      Absolutely false and utterly ludicrous assertion.

      The Federal Reserve has NOTHING WHATSOEVER to do with stocks and it has warned repeatedly about excessive stock overvaluations which have been caused by CORPORATE BUYBACKS and STUPID MANIC SPECULATORS high on hopium and drunk on false perceptions wile totally ignoring fundamental valuation metrics.

      Remember One Thing – Karl Denninger

      The Fed has never, in its history, managed to actually prevent a market collapse.

      It did not do so in 1929.

      It did not do so in 1987, despite it being evident that the market was going to blow up.

      It did not do so in 2000, despite it being evident that the market was grossly overheated.

      It did not do so in 2008, despite having more than a year worth of warning (the two Bear Stearns hedge funds) and in fact Bernanke testified under oath that “subprime was contained.”

      It will not do so this time either.

      https://market-ticker.org/akcs-www?post=230456

      • DB200

        Let’s hope so but I am not sure about that. The Bank of Japan is already monetizing the Japanese stock market. All central banks are monetizing the bond market, unheard of ten years ago. They have resorted to financial repression in order to stabilize (preserve) our current financial system. The main effect being more debt in order to solve the debt crisis. And more reckless speculation as the BIS is warning for over and over in their reports. Kind like drinking more beer to stop the hangover.

        This is not going to end well and my personal opinion is that the central banks will pull every legal and illegal trick to avoid a deflationary collapse. Politicians (those rubber frogs – flexible, making a lot of noise and without a spine) will not intervene as they then will be blamed for the collapse. I find it incomprehensible that circa 35 people who are unelected can dictate how the financial policies are set for democracies. The lifes of hundreds of millions are subject to the economical philosophies of this small group of narrow-minded persons.

        • socalbeachdude

          There is no such thing as “monetizing” stock markets. The term Monetization is the process of converting or establishing something into legal tender. While it usually refers to the coining of currency or the printing of banknotes by central banks, it may also take the form of a promissory currency.

  • DJohn1

    Gold is not a Safe Haven. Nothing is.
    Just like Silver and the Hunt Family found out that the government controls the market place. It ruined them.
    The government is the problem.
    They could just as easily confiscate all the gold and give us a set price for that gold, then double the price in dollars and make us eat it. Because then no one can legally own gold. Happened in the 30s with FDR.
    Gold right now is a commodity just like any other commodity. If a nation dumps its gold then the price comes down. Happened when Russia dumped gold in the marketplace in the 1990s.
    You could warehouse retail goods. Government can confiscate everything you own. Like food supplies can be confiscated. Obama made executive orders still in effect concerning food supplies horded.
    We as a nation have given over to government way too much power.
    Huge bureaus exist and they are dangerous to individuals.
    Rule by regulation and they create a huge number of regulations over a year’s time.
    EPA has more regulations than would seem possible and some of them contradict one another. The courts are in their back pockets.
    So how do you win?

    • socalbeachdude

      Win what?

  • alan

    The top leaders of the stock market mafia get together and agree the market is ready for looting. They designate one person to yell fire. The market takes a big fall. The Mafia jumps in at the bottom and waits for bail outs and fed money and ride it back to the top.

    Real estate is ramping up for another crash.
    Cash for clunkers II is just around the corner.

    • socalbeachdude

      Laughably false as to the markets, but, yes, real estate in the US, Canada, Australia and other places is in a HUGE BUBBLE and headed for massive price crashes.

  • DJohn1

    There is a lot wrong with the United States way of doing things right now.
    Did you know we have laws in place to drain anything you own in your old age? Well we do.
    Part of the problem here is even if you have money in the bank, own houses, own cars or trucks, government takes it all eventually.
    How? It all depends on you getting deathly ill in your lifespan.
    Then medicare and medicaid determine how much of what you own you get to keep. Even the VA practices this method of bankrupting you in your old age. They determine eligibility by how much you receive in Social Security, pensions, etc.
    I am not speaking of the rich. Many of which are under the Congressional Health plan for congress. They get it all free. Just like their pension system gives them their salaries as Congress people for free for life.
    One thing lawyers are very good at is padding their own wallets.
    The problem is the screwing of the Average Man in America by these professional thieves.
    They encourage the devil. For instance if two individuals live together and one gets sick only one goes bankrupt. If you marry the person then you both go bankrupt.
    Our tax laws favor the single person.
    I think a long hard look at favoring the bum over the working man needs to be happening and happening right now.
    Our Congress is lazy. They favor the lazy over the people that work for a living. It is time to change all that. It is time to bring discretionary income back to the working people of this country.
    This has been a long time coming. The export of our jobs, the difficulty of working people to get raises, It has been coming because Congress is basically going socialist in our laws. It does not pay a person to work if everything you own is taken from you.
    Our entire economic structure has to change and change back to the middle class protection of our jobs and our economy. It has to happen very soon. Or the people with money will lose it and it will happen overnight.

    • socalbeachdude

      And just how do you propose changing the “economic structure” in the USA?

  • socalbeachdude

    More delusion bogus nonsense from you.GOLD IS NOT “MONEY” AT ALL anywhere in the world. The only REAL MONEY IN THE US IS US DOLLARS.

    Gold is just a little tiny fungible niche metallic commodity and NOTHING ELSE.

    The government and central banks have nothing to do with the price of gold which is A PREPOSTEROUSLY OVERPRICED COMMODITY that has already plunged 35% over the past nearly 6 years and is headed towards and to its mean of $456 per ounce and then significantly lower.

    An array of reasonable historical metrics can be used to establish the proper price of gold, including:

    1) Its historical mean which would put gold right around $456 per ounce

    2) Its 16:1 historical ratio against silver which would put gold right around $276.48 per ounce based on silver being around $16.60 per ounce

    3) Its inflation adjusted price today from its last stable historical price of $35 per ounce in 1971 which would put gold right around $386 per ounce.

    4) Its current official US government price of $42.22 per ounce which is how the approximately 8200 metric tonnes of US government gold are valued:

    http://www.fiscal.treasury.gov/fsreports/rpt/goldRpt/current_report.htm

    • aldownunder

      2) so silver should be around $81oz now
      exactly what I stated earlier UNDERVALUED

      • socalbeachdude

        No. Silver is already way overpriced at around $17 per ounce and the 16:1 ratio would then put the fair value gold at around $272 per ounce.

    • Stuey

      We already been over this and you have admitted i was right. MONEY is just a medium of exchange and anything can be used as money. So GOLD can be used as money if the people involved in the transaction agree on it. You ADMITTED this just last week, did you forget already?? Holy smokes man, get some help.

      • socalbeachdude

        Laughably false. I “admitted” no such thing at all as you falsely assert. Many thingies CAN BE USED FOR BARTER but BARTER is a very different thing from MONEY and CURRENCIES. No country in the world uses gold for any sort of currency at a floating price equal to the spot price of gold, and it is an incontrovertible fact that the spot price of gold has been EXTREMELY VOLATILE AND UNSTABLE over the past 40 years since it was allowed to trade in the commodities markets.

    • Carol B

      YOU ARE DELUSIONAL! All these people on this blog are giving you information which debunks what you are saying and you refuse to understand or research to dispute what everyone is saying. You are truly a paid troll working for George Soros or either a well programmed person. There is no need for further communication or debate with you!

      • socalbeachdude

        No, it is YOU who is DELUSIONAL and you are totally ignoring the incontrovertible facts which I have clearly and accurately stated above. Making totally bogus assertions such as “you are a paid troll” – when nothing could be further from the actual truth just further undermines your credibility and makes you look like an utter fool.

  • socalbeachdude

    The most laughably bogus bubble out there right now is so-called “crytocurrencies” with the poster child for such manic speculative idiocy being intrinsically worthless BitCon which is headed for a massive collapse.

    Bitcoin surges 8% to record near $3,000

    http://www.cnbc.com/2017/06/06/bitcoin-surges-to-new-record-rising-above-2900.html

    Crypto currency… cloakcoin up 300% in two days

    https://srsroccoreport.com/crypto-currency-cloakcoin-up-300-in-two-days/?cn=bWVudGlvbg%3D%3D

    Bitcoin – a speculative asset with “no intrinsic value”

    https://www.cryptocoinsnews.com/bitcoin-speculative-asset-no-intrinsic-value-says-business-insider-founder/

  • GSOB

    Who is the prophetic leader of the FRB?

    • aldownunder

      socalbeachdude

      • socalbeachdude

        Nope.

    • socalbeachdude

      The Federal Reserve was created by the US Congress and is subject to the full control by the US Congress including the right to amend the Federal Reserve Act or abolish it as clearly stated in the Federal Reserve Act itself.

      The Federal Reserve is comprised of 12 regional branches with each regional branch having its own President. The Federal Reserve is government by a 7 member BOG (Board Of Governors) all appointed by the President of the USA and subject to approval by the US Congress and serve 14 year terms. From the 7 member BOG a Chairman is selected fora 4 year term, and the current Chairperson is Dr. Janet Yellen.

      Dr. Janet L. Yellen took office as Chair of the Board of Governors of the Federal Reserve System on February 3, 2014, for a four-year term ending February 3, 2018.

      Dr. Yellen also serves as Chairman of the 12 member Federal Open Market Committee, the System’s principal monetary policymaking body which is comprised of the 7 member Federal Reserve BOG plus 5 of the 12 Federal Reserve regional bank Presidents.

  • Richard O. Mann

    Run Forest, run.

  • JC Teecher

    It’s becoming a merry go round on this site. The merry are few and far between, but the sad sacks are happy to share their grief of “gloom, despair, and agony on me”.

    Let’s look at the reality of our situations, and compare to, say….those in Sudan, Liberia, or Conakry Guinea.
    It is estimated that 60 to 70% of travel is strictly on foot. Malnutrition and Malaria are rampant. Very few have working electricity, and clean water, and sometimes no potable water at all.
    In a island like city about twice, the length of Manhattan, Conakry has an estimated 2 million people, with the average life expectancy of 58 years.

    A fairly large city, with a couple million people, no electricity and limited clean water supplies may be coming to a place near you. So, until then, be thankful for what you do have, and live and love each day.

    • socalbeachdude

      Obviously none of that would never happen in the USA.

  • thegeorgespyman

    Because they don’t let other people do their thinking for them. The classic disinformation from the town crier was all is well. People like that message. As the Titanic sank despite knowing full well water was coming in the breach, the crew insisted it wasn’t to avert panic. Nothing has changed. Assume crash positions and pray for a good outcome. Hopefully there’s something left after the dust settles. My concern would be after an economic catastrophe comes war. Just as local looters will use force to take what they need so will nations.

  • socalbeachdude
  • Lodewijk Hof

    Seems i’m going the proper way. Getting into Gold and Silver storage. Publishing about it and more. All lovely. I do hope there is no stock market crash. However I’m afraid there will be one. Let’s all prepare for it and the changes in society.

    • SoCalBeachDude

      Gold and silver will CONTINUE TO PLUMMET right along with all other assets, just as they have been doing over the past nearly 6 years with gold down 35% from its manic speculative high and silver down 70% from its manic speculative high set back on September 5, 2011.

      • PocoPete

        2000-2017
        US 10-year T bond (coupons reinvested) 3.7%
        US 30-year T bond (coupons reinvested) 4.07%
        S&P 500-Index (dividends reinvested) 4.45%
        Gold (physical, incl. 12-mo gold lease rate) 9.12%

        • SoCalBeachDude

          Once again, gold has plunged 35% in price over the past 6 years and silver has plummeted 70% in price over the past 6 years. Get a clue, dude.

          • PocoPete

            The current price of gold presents an excellent buying opportunity before it rockets much higher.

          • SoCalBeachDude

            Gold plunged yet another $13 or so an ounce today and is well on its way towards and to its mean of $456 per ounce and is already down around 35% over the past 6 years. Get a clue, dude.

          • PocoPete

            Gold has already recovered $3 in overnight trading since then. But it is still a bargain and will soon be above $5000 and ounce.

          • SoCalBeachDude

            Gold remains DOWN MORE THAN $10 FOR THE DAY and was down more than $13 and is down around $700 an ounce since it reaches its laughably manic speculative high nearly 6 years ago on September 5, 2011. Gold is on a major DOWN CYCLE and is reverting towards and to its mean of $456 per ounce and may very well likely go as low as $232 an ounce over the next 15 years. The last down cycle from January 1980 until late 2001 lasted about 22 years for that stuff.

          • PocoPete

            The new gold up cycle is just beginning and gold should easily go to $10,000 per ounce by mid 2018.

          • SoCalBeachDude

            Laughably false. Platinum is a far more valuable metal than gold and is now trading in the $900 range, but historically carried around a 60% premium relative to the price of gold. The only metal that ever reached – very briefly – a price of $10,000 per ounce was rhodium, before then nearly instantly plummeting well below $1000 per ounce for a loss of 90% to the clueless imbeciles who bid it up to $10,000 per ounce.

            Gold is a mundane metal where the major demand for it has always been JEWELRY – and about 70% of all of the gold ever mined exists in the form of jewelry – and is now in DISFAVOR IN THE JEWELRY BUSINESS as a directly result of it being preposterously overpriced at anything about $660 per ounce.

            I don’t know who you think would even consider paying any price above the current absurd price of around $1,260 per ounce. There just aren’t enough fools out there to even consider doing that.

          • PocoPete

            Gold has been valued as a means of storing wealth for 5000 years. As long as billions of people believe this gold will always be valuable and chosen for safety.

          • SoCalBeachDude

            No, it certainly has not been at all, and the primary purpose for gold from the time it was discovered right up until present was for its USE IN JEWELRY which is where about 70% of the 180,000 or so metric tonnes of that stuff ever mined is today, but demand for use of gold in jewelry has been PLUMMETING FOR THE PAST 10 YEARS DUE TO ITS VASTLY EXCESSIVE COST and that is the primary demand for gold which bodes very poorly for the stuff staying anywhere near its current laughably elevated price.

            Obviously – for anyone who knows how to do simply math – a wildly volatile commodity such as gold is NOT IN ANY WAY SAFE AT ALL when its price has PLUNGED AROUND 35% OVER THE PAST 6 YEARS and is now in a major DOWN CYCLE with no bottom in sight!

          • PocoPete

            We are at just at the beginning of a major up cycle bull market for gold. Now is an excellent time to invest in gold.

  • horse777res

    These fools think they are going to live forever! But one day they will take there last breath, then Judgment. Death is the great equilzer. FIND JESUS WHILE HE CAN STILL BE FOUND!!

  • Mario Zamora

    Shorting the market keeps moving the market up when they have to cover. If they don’t stop the market won’t stop going up. Hard to get?
    8 years now expecting the market to crash isn’t enough years?
    Lots of bear fortunes lost.

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