is unlikely to print more that up a buck or two–and yo-yo up and down all day–that has not produced more than a days scalp…let’s see, the day is young…

Re-entering the news flow was a jolt, and not in a good way. Looking with fresh eyes at the economic numbers and central bankers’ statements convinced me that we will soon be in deep trouble. I now feel certain we will face a major financial crisis, if not later this year, then by the end of 2018 at the latest. Just a few months ago, I thought we could avoid a crisis and muddle through. Now I think we’re past that point. The key decision-makers have (1) done nothing, (2) done the wrong thing, or (3) done the right thing too late.

Having realized this, I’m adjusting my research efforts. I believe a major crisis is coming. The questions now are, how severe will it be, and how will we get through it? With the election of President Trump and a Republican Congress, your naïve analyst was hopeful that we would get significant tax reform, in addition to reform of a healthcare system that is simply devastating to so many people and small businesses. I thought maybe we’d see this administration cutting through some bureaucratic red tape quickly. With such reforms in mind I was hopeful we could avoid a recession even if a crisis developed in China or Europe.

Six months in, the Republican Congress that promised to repeal and replace Obamacare, cannot even agree on the process. For six years they discussed what to do, and you would think they might at least have a clue.

Tax reform? I’ve been talking with several of the Congressional leaders about tax reform, pointing out that without major tax reform this country is in danger of falling into a recession. No tinkering around the edges. Real change requires real change. There is now talk of having a tax bill of some kind ready to discuss in September and possibly pass in November, which, with this Congress, means that the process is likely to drift into next year sans a major push by the leadership. There is no consensus. No less an authority on the actual political process than Newt Gingrich wrote a very sharply worded column this week, declaring, “That legislative schedule is a recipe for disaster.” As Newt points out, if we are going to see any positive economic effect from tax reform, a bill has to be passed soon and implemented. Newt’s column was actually fairly discouraging to me. Knowing him as I do, I can tell you he wasn’t happy to have to write it. While I disagree with him on some of his tax-reform proposals, I agree that we need something significant and soon.

There has been some progress on the bureaucratic and regulatory fronts, but nowhere near what I’d expected. Appointments haven’t been made, and the bureaucracy is still in control of most of the levers of the economy.

Metals still look horrible but shares don’t want to seem to give up much ground early.

Going to start looking at that VIX/Metals correlation….why the heck not?

Merkel Migrant Blowback Begins: “Chechen Sharia Police Terrorize Berlin”

◦Threats of violence against “errant” women are viewed as “acts of patriotism.”
◦”They have come to Germany because they wanted to live in Germany, but they keep trying to turn it into Chechnya with its medieval ways.” — Social worker interviewed by Meduza.
◦”Everyone’s attention is fixed on the Syrians, but the Chechens are the most dangerous group. We are not paying sufficient attention to this.” — Police in Frankfurt (Oder).

A hundred Islamists are now openly enforcing Sharia law on the streets of Berlin, according to local police who are investigating a recent string of violent assaults in the German capital.

The self-appointed morality police involve Salafists from Chechnya, a predominantly Sunni Muslim region in Russia. The vigilantes are using threats of violence to discourage Chechen migrants from integrating into German society; they are also promoting the establishment of a parallel Islamic legal system in Germany. German authorities appear unable to stop them.

The Sharia patrol came to public light in May 2017, when Chechen Salafists released a video warning other Chechens in Germany that those who fail to comply with Islamic law and adat, a traditional Chechen code of behavior, will be killed. The video’s existence was reported by Meduza, a Russian-language independent media organization based in Latvia. The video, which circulated through WhatsApp, an online messaging service, showed a hooded man aiming a pistol at the camera. Speaking in Chechen, he declared:

“Muslim brothers and sisters. Here, in Europe, certain Chechen women and men who look like women do unspeakable things. You know it; I know it; everybody knows it. This is why we hereby declare: For now, there are about 80 of us. More people are willing to join. Those who have lost their national identity, who flirt with men of other ethnic groups and marry them, Chechen women who have chosen the wrong path and those creatures who call themselves Chechen men — given half a chance, we will set all of them straight. Having sworn on the Koran, we go out onto the streets. This is our declaration of intent; do not say that you were not warned; do not say that you did not know. May Allah grant us peace and set our feet on the path towards justice.”

cont. http://www.zerohedge.com/news/2017-07-10/merkel-migrant-blowback-begins-chechen-sharia-police-terrorize-berlin

4 for one split–so, as I write, JNUG at $15  [$3.82 pre-split] is close! Worth a shot given that the sentiment [gold is hopeless-a play thing of the manipulators–etc]—is abysmal–very much like what we heard in Dec. 2015]. Also, COTs are bullish. Do you remember when JNUG was 3.77 if gold was much lower than the current 1209?

is that even if the percentage drop is relatively nigh before the final bottom , in dollar terms ( fiat , after all ) , JNUG cannot go much further down than it already has , so the potential reward outweighs the risk from my point of view . Leakage with highly leveraged ETFs works against us , that is true , but at this point the speculation seems attractive to me .

Entitled ‘ American Betrayal ‘ , documenting the takeover of the US government by those seeking to destabilize the American way of life and replace it with extreme socialism ( Communism with a capital C ) . Whittaker Chambers mentioned below was a Communist who later defected , and in later Congressional hearings ( 1948 ?) helped take down Alger Hiss and others .

This is an excerpt from the introductory chapter in which Wirt , an educator from the midwest overheard a dinner conversation plotting that overthrow , and wished to address Congress in 1934 to expose the plot :

” “proposed overthrow of the established American social order,” as Wirt put it. These officials, it bears notice, were mainly employed by the same New Deal agencies from which Whittaker Chambers was to marshal forces to fan out across the U.S. government. Wirt’s assessment of the radicalism within the folksily titled New Deal had preceded him to Washington, having made it into the Congressional Record and then the newspapers. “The fundamental trouble with the Brain Trusters,” he wrote, “is that they start with a false assumption. They insist that the America of Washington, Jefferson and Lincoln must first be destroyed and then on the ruins they will reconstruct an America after their own pattern.” 3
Out of the political pandemonium that ensued, a select House committee emerged to investigate—or, as the Democratic New Deal majority preferred, to lay the matter to rest. 4
On April 10, 1934, in the same caucus room where Whittaker Chambers would testify fourteen years later, witness Wirt would have his say, but barely. The powers that be understood that Wirt’s story of radicalism in the Roosevelt administration might distract from or even halt their political momentum. Thus the select committee of three Democrats and two Republicans would merely go through the motions—and not even all of them. Contrary to custom (and by party-line vote, 3–2) Wirt wouldn’t be allowed to read his ten-minute opening statement, wouldn’t have benefit of counsel (3–2), and wouldn’t be permitted to rebut charges against him (3–2)—not even after he was falsely accused of having been jailed for German sympathies during the World War (1917–18). 5
Hitler, too, would be invoked to smear Wirt. Most important of all, the committee voted (3–2) not to call any of the key administration officials Wirt cited in his testimony—not the Agriculture Department official who told him about talk in the AAA about retarding the economic recovery in order to speed up the revolution, nor the housing officials planning to collectivize American workers in government-planned communities, nor the “brain trusters” advocating the seizure of the economy and the destruction of laissez-faire. House Democrats preferred, in the words of the scathing minority report on the Wirt investigation, to leave Wirt’s testimony as hearsay. Then it could be smacked down by denials in the press and majority rule. Indeed, within an hour of Wirt’s hearing, such denials “followed in rapid order.” 6

So, too, did a countercharge from the dinner party attendees, all midlevel government officials (five U.S. and one Soviet) Wirt had cited for what he described as revolutionary statements. Not only, they told the press, had they not made any of the statements Wirt alleged, Wirt himself had monopolized all conversation to the point where no one else had been able to say anything at all. As they told it, he just never stopped talking. The world laughed. William Wirt became the butt of jokes throughout the administration and press corps. This front-page Miami Daily News story, headlined LAUGHING THROUGH, is not untypical.” …

For your buying pleasure, please note the deep discounts on the Gold and Silver aisle. First come, first serve. Get your Christmas shopping done  early. 🙂

Winedoc, it is Stacker’s Season. Those Silver Maples are a Great Value at these sale prices.

Alex, Thank you for the reply. Same here with the gut feelings. And in regards to that JNUG chart, if you factor in and consider the recent 4:1 reverse split, that chart screams “Buy Me!”. I don’t think JNUG has ever been so low in relative terms. Good call imho.

Good Luck To all and happy trading !

Maya, not a bad cup of coffee for a Monday. 🙂

If Gold breaches 1200 you might want some cash on the side lines in case it falls further and takes silver with it. Ps It might be a aproxinate launching point.. Orr vtac

I don’t understand the reasoning for the pauperization of the USA. But I guess “they” do.

Izzit the New World Orderists wanting to return to an updated version of feudalism/serfdom?–greed has no limits–only in death does the covetous eye close and the greedy hand loose its grip.

1 oz Silver Canadian Maple Leaf Coin

Thats what makes this so dangerous because it is a global move. Like a riot in that if someone starts smashing cars or people for that matter they don’t feel personally responsible but part of a group backing each other. Putting pressure on the people in a golbal way making people think its to big to fight against. They pubically and during election might seem nice on the outside and with their PC but like Merkel stone cold on the inside. Shes quite aware of the no go zones and will have no remorse nor to the victims. Where is she coming from, in real life you’ll have to visit a prison where the inmates are either in the psych ward after a murder or in isolation.

We have so called leaders globally with some very serious mental and personality disorders who are not only manipulative but have total disregard for others who also see their job as a position of prestige in a ” narcisitic ” way not a sense of responsibility or duty for those who elected them but how they can take advantage of them as a end to their means. We’re seeing this reflected in the press fake news and insane politicians bent on impeaching Trump even if they have to make it up with some drama to impeach him and distract from their real intentions. We have a decoupling between them and us both here and Europe. There always has been but not at this level now globally coordinated.
They made a bunch in forcing women out of the home for decades of easy money and now reached a tipping point. They mismanaged the money that would of weathered a drop in population and now with women too busy or not socially acceptable even if they wanted kids because they have to focus on careers and having less kids the gravy train is drying up. In there desperation they will open the borders causing even more problems with their reckless disregard in order to keep their easy money coming in because they are the center of the universe everyone else should revolve around them.Why they hate Trump or we the people because he , we won’t cooperate and they just can’t handle someone else taking the spot light or questioning their authority.

Dear Sir,

I have a very complicated benefits question.

Many years ago, I married a widow out of love who had an 18 year old daughter.

After the wedding, my father, a widower, came to visit a number of times, and he fell in love with my step daughter.

My father eventually married her without my authorisation.

As a result my step-daughter became my step mother and my father became my son in law.

My father’s wife (also my step daughter) and my step-mother, gave birth to a son who is my grandchild because I am the husband of my step daughter’s mother.

This boy is also my brother, as the son of my father.

As you can see, my wife became a grandmother, because she is the mother of my father’s wife.

Therefore it appears that I am also my wife’s grandchild.

A short time after these events, my wife gave birth to a son, who
became my father’s brother-in-law, the step-son of my father’s wife, and my uncle.

My son is also my step mother’s brother, and through my step-mother, my wife has become a grandmother and I have become my own grandfather.

In light of the above mentioned, I would like to know the following:
Does my son, who is also my uncle, my father’s son-in-law and my step mother’s brother fulfil the requirements for receiving childcare benefits?

Sincerely yours,

Mohammed

THE ANSWER:

Of course you qualify Mohammed! I have arranged to start mailing the checks to all of you just as soon as you arrive here in California.

Yours faithfully

Jerry Brown

Golden Tea, and Perfect Coffee…. best I can do on a Monday.

Blue sky and a clear signal for the Gold Train to start a new week.
http://www.railpictures.net/photo/621948/

If you talked to the old folks back in the 1950s, it was widely known that after WW I the American people wanted isolationism. They wanted no part of stupid war II. They were dragged into it in various ways. In fact the Fed Res act of 1913 was created so the USA can finance wars.

I also doubt very much that the American people wanted to be involved in the Korean war or the Vietnam war. Defense contractor people sure, of course wanted wars. Most people I know, and even Trump himself thought attacking Iraq was not a very productive idea, except for the people that wanted him out and claimed he had weapons of mass destruction. Which were not there.

Somebody, probably a close by neighbor country, dropped a dime on him, and “sicked” the poor innocent Americans on Iraq to do the dirty work for them.

Copy that, agreed on most, but re your…

“western countries have been bribed by the US government and the big businesses.”

Comment:

That makes no sense to me because the USA does not have its own gov’t. No domestic gov’t would do to its OWN country what this one did. Global multi national  big businesses is harbored in our country.

I could understand your animosity towards the USA because of so many bad things done in our NAME only. Like a RINO, republican in name only. We have been infiltrated (like by a narcotics detective, or mob infiltrator) by anti American pro foreign special interests.

Ya know, back in the day the subject came up about communists infiltrating our country. Un-American activities committee was created, but the fake media squashed it. The infiltrators won. Google it. “We” ain’t we, and “China” ain’t China. “China” is a chosen “sanctuary,” for unpatriotic multi national “global” business or corporations.

“China” did NOT choose itself to be the global vendor. Other countries that export to the USA were also chosen. Hey, at one time after WW II the USA was “chosen”. We were obviously Unchosen after 1971 when they took the dollar off gold backing.

part:

“On May 26, 1938, the House Committee on Un–American Activities was established as a special investigating committee, reorganized from its previous incarnations as the Fish Committee and the McCormack-Dickstein Committee, to investigate alleged disloyalty and subversive activities on the part of private citizens, public …

https://en.wikipedia.org/wiki/House_Un-American_Activities_Committee

They can’t get along with each other, they start wars, like WW I and WW II, and get us involved. Were the Swiss involved? No.

They can’t use it. They can make treats maybe. Think about that. And if they sent a bomb into any country, and could put a 20 mile diameter of destruction in only one city, and after that their entire country of Korea would be carpet bombed, destroyed, each and every city they have. They would end up being S Korea wasteland territory.

Each and every country out there has their hands in our pockets. They all have a lobby here, representation here in our Congress. Infiltrated. I still don’t see an American made TV set in any stores. 90% of the cars TVs and the fish we eat is imported.

Those foreigners even get our president to go and visit them. TPTB have been wheeling Trump around like on a hand truck, to all those places that are harmful to our wellbeing. The proof is all around. What did any of those countries ever do for the USA? Nothing times 100.

They should all be ignored, and told to leave us alone, and settle it all among themselves. That were going to a Switzerland type mode, and we don’t want to hear any of their crap and complaints about other countries anymore, and stop making us fight their battles for them.

Korea is simply another distraction, to mesmerize people, keep them focused on unimportant to the USA things. The US people be focused on the US economy and either take back our jobs (30 years to see positive results) or tax the shit out of any and all imports. (Instant gratification.)

An interesting Picture when you look at the Background  ..The Chinese are in Front ,but waiting in the WINGS is India ‘s Modi …ready to take China’s place if they dont step up and show Leadership ..When you consider Modi’s recent visit to the White House before the G20, Ill bet  China ‘s President was well aware of that significance !

Nothing like a little competition to get China’s attention. ,and they speak the Language (almost )and they DEPORTED the worst of the Muslims and formed another Country called Pakistan .  there was a time when India was going to NUKE Pakistan over Kashmir and the US stopped them  …this time we got a different President and things will be different ! China’s got some choices to make between Bad and Worse and Trump made that clear ..He does know how to structure a deal before he presents it… dosent he !  hehe  China needs to read his book !      Like Patton said to Rommel before he kicked his ass in North Africa “I read your book” !

You know the definition of an “EXPERT” ??

EX = a ‘has been’

SPURT =  a drip under pressure

I’m far from a Bitcoin Expert, but this CFTC action screams of a desperate attempt to ‘control & confine’ BTC like any other financial paper asset.   I don’t know if it is possible, but I’m certain they will TRY.  And I don’t like it.

So I’m looking at pulling some nuggets out of the BTC wallet again.  Need to shake the ‘money tree’ for some home improvements.