Loading ...That’s creepy. Funny evil didn’t change when they were all underground or in concentration camps. Ipso link about people in power about summed it up, sociopathy group think.
Fed knows the pensions are in trouble. I wonder if things are going to speed up now but then we have Europe that don’t want it even though they are bound to raise they’re when no one buys their bonds. Hard for them to balance anything.
Richard
Portugeezer
Lol Bullies don’t like it when someone better at it comes along. Ask R De Niro.
When was the last time any economic news was PM bullish.
the odds on real events/numbers being bearish every time, are now beyond calculation. The scum are making the mkts are sad joke.
Update
Algos have Hui going tick for tick with SM !!!!!!!
D’oh!
Crypto Collapse Accelerates As Bitcoin Miners Turn Cashflow Negative
Another day, another leg lower in cryptocurrencies as FUD spreads, this time on the back of headlines exposing market manipulation during last year’s meltup and collapsing margins for miners as prices tumble below breakevens.
EXK up on heavy volume
No news I can see
R640
Generally not uncommon for the metals to be firm before a rate hike, it’s what they do to them after. I’d bet on a $20 down move today.
Metals should be higher based on the blowout PPI inflation numbers this am.
I just got home-I see that again G&S are up on FED day–this has been going on for many months
I’d like to say “how bullish” but any gains are given back in the following days–gold’s up 2.50 and S up 11 but the HUI is down…so what else is new in the gold world? That’s what happens when the Elders of Zion control the world!!
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The Protocols Of The Elders Of Zion The Jewish Danger 1921
Beware!The Federal Reserve will hike at least every other meeting until something breaks. Full stop.
THE FED IS NOT YOUR FRIEND
The truth of the matter is that the US economy is doing well. In fact, beneath the hood, it might even be booming.
We are so far away from the Federal Reserve slowing down the rate of hikes. The economy is doing well. Stocks are on their highs. Unemployment is hitting new lows. Inflation is ticking at cycle highs. If anything, I expect the Federal Reserve to increase the pace of tightenings – not the other way round.
I am not sure what this will mean to asset prices, but be careful in assuming the Fed is on financial markets’ side…
Powell will not reduce this pace because the 5-30 spread is hitting new lows. Nor will he care about the effective Fed Funds spread over IOER. And finally, the Federal Reserve has a mandate to set policy for the USA and will not alter course because of emerging market wobbles.
Additionally, there have been stories indicating the Federal Reserve is considering holding press conferences every meeting as opposed to every second one. Although there are plenty of good reasons to change this policy, I believe that Powell is worried he will have to raise rates at a quicker pace in the future.
Let’s face it, on the metrics that matter to the Federal Reserve (employment and inflation), the signals are all pointing to an economy that needs higher rates.
Thanks for reading,
Kevin Muir
the MacroTourist
@ipso facto re 9:57, Global Multinational Corporations face harsh new Reversal Of The Past
Any company from one country, doing unfettered “promiscuous” business activity in somebody else’s country, then that alien country is the “burdened vehicle”, and subject to “getting thrown out” or taxed. Note USA is starting tariffs, taxes on some US based global businesses, that avoid US labor and taxes, NOT really “China” per say getting taxed.
Like the quote I coined after Bernie Madoff got nailed, about everything going into reverse…..”If you were getting away with something, that wasn’t right, you should stop before you get caught” Mr. Copper circa 2009.
Prior examples of unfettered “promiscuous” business were Slavery, Woman’s rights, Immigrants rights, Gay’s rights etc. I think many big globally operating businesses are going to have problems if they have been getting away with something, that USED to be all right for decades, but not alright in the future like slavery etc.
The latest is “pissing away money on war games” in Korea.
Invest here? fugedaboutit!
Congo’s miners face harsh new reality as mining law finalized
The options for mining companies battling new legislation in the Democratic Republic of Congo — Africa’s biggest copper producer and the source of two-thirds of the world’s cobalt — have just about run out.
After six months of lobbying, companies including Glencore Plc and Randgold Resources Ltd. have got nowhere in their battle to push back against the mining law, which voids existing agreements and increases their costs. Congo approved the final part of the bill on Friday, and despite earlier indications from President Joseph Kabila that the rules might be eased, the law hasn’t been weakened in any way.
While the constitution bars Kabila from running for a third term, Congo’s embattled leader has refused to rule himself out as a candidate in elections later this year, and his campaign to wring more revenue out of mining companies is proving popular with voters. A meeting in March in which chief executives including Glencore’s Ivan Glasenberg pleaded their case to Kabila was used by state media to portray the president as a wise power broker standing up for the national interest.
“Something like this, which is quite scary to foreign investors, isn’t going to bother” Kabila, said Hunter Hillcoat, a mining analyst at Investec Securities Ltd. in London. The law is both a vote winner and a much-needed source of extra revenue as the president seeks to increase state largess. “Kabila is going to pull out all the stops to get financing in place,” Hillcoat said.
Few alternatives now remain open to the companies — try to cut individual deals to gain exemptions or challenge the changes at international arbitration, leading to protracted legal battles.
Friday’s decision means the miners are now liable to pay a 50 percent tax on so-called super profits and up to a 10 percent royalty on cobalt production, in addition to other changes. In a violation of the terms of the previous legislation, the government has also chosen to ignore stability clauses in their contracts that should have protected Glencore, Randgold and others from the most material changes for 10 years.
more http://www.mining.com/web/congos-miners-face-harsh-new-reality-mining-law-finalized/
Lots of truth here
Caitlin Johnstone: 12 Tips For Making Sense Of The World
https://www.zerohedge.com/news/2018-06-12/caitlin-johnstone-12-tips-making-sense-world
Portugeezer
On NK and Bolton. Nobody was too happy with his model statement that’s for sure but maybe he’ll come in handy if the agreement goes sour like it has before. You got the Demos whining through the whole thing. First complaint about the summit, then calling it off, then on again. Now they’re saying he’s being buddy buddy with a dictator. Yeah the right pointed out the things Obummer did, the contrast was that unlike the last weak appeasing Obummer he came in with strength not bribery and appeasement even funding sponsors of terrorism with our money.
He came in with strength and a choice. He wasn’t going to let it draw out like so many did before him.
What that can result in is either they stop their nukes or flip Trump off and then it will be hard for the left to justify drawing it out anymore although they’ll try they need a enemy.
That’s when Bolton might come in. It’s a sort of set up this time. Like getting documentation and history of a ruthless killer who’s about to kill again before You take him out.
It will be his choice. Trump will stand by his word either way. Protection or his regime will go bye bye.
Portugeezer
I think the false Dems already hanged themselves, that’s why what was it 9 of them lost to him. First they didn’t take him seriously, then they said he wouldnt win. Wow what a surprise for the Demos next who got kicked to the curb. People were through with both sides but especially the libs. What I think he should of done though but who knew how bad it was is dump the three Amigos from the gitgo.
Macro
Richard won’t indulge you.
It’s not the Jews who you need to worry about it’s your brow less flower boy and the non Jews, non Christians, he’s letting you in that will multiply like rabbits. I wouldn’t be surprised if they havent out birthed you yet. Seriously
Silver Train
The ‘Coast Starlight’ flies high across Stenner Creek
heading into San Luis Obispo
http://www.railpictures.net/photo/659437/
Crater Collapse
Just three months ago one could visit the Hawaii Volcanoes National Park, and from the Jaggar Museum overlook you could look into Halemaumau crater and see the small lava lake in one area, simmering and burbling away. At night you could see the lava glow. In the daylight it looked like this:
Then after the big earthquake, the lava lake in the summit crater receded more than 1000 ft down as lava drained into the lower east rift zone to where the current lava eruption is fountaining. Now the empty hole that was the summit vent is collapsing inward on itself, with earthquakes and steam cannon blasts of rock and ash. It is more than twice the size shown in the first image.
That flat plate in the middle is the former floor of the crater, which has dropped down more than 300 ft. In front of that is the deeper pit of the vent that goes down more than 1000 ft. into the rubble. The rim all around is slumping into the growing hole. This is how a formerly active volcano vent dies… with belches and burps of steam and ash and rocks. The other formerly active vent, Pu’u O’o, also collapsed like this but on a much smaller scale with only one dying burp.
Meanwhile, 25 miles East and 3500 feet lower in elevation, the mountain is bleeding lava from the lower flank, flowing a river 7.8 miles to the sea and creating a new coastline.
Geologic change at a rapid pace. It is awesome to watch… as long as you remember to get out of the way! 🙂
Courtesy Moi and USGS.
Post script, in all fairness, I think that the Islamic whackjobs are just as guilty.
Just get rid of the magic man propaganda.
The reason a humble person as myself has come to dread a small, normally insignificant state in muddle earth is they can’t stop creating havoc over the rest of a usually copesetic world for their selfish interpretation of religious dogma.
It would be one thing for their ilk to live and believe within their own hijacked territory without their neighbors wanting to holocaust them for the second (or more) times.
The fact they have over run the greatest nation on earth in the last 100 years is where I draw the line at protecting my family. If they just stuck to their own knitting….
ipso, your point earlier on Obama being green with envy…
Never, the only colors that commie knew were red and chocolaty brown.
Oh Copper, I need a back brace now LOL about Trump sending out a negative tweet on Israel. He was bought and paid for by Sheldon to ascend to the Presidency. You think the embarressment moving to JEWrusalem was a mulligan?
BuyGold, help me, my sides are splitting…
Right up there with R640 getting off his Israeli knees…
The “dot plot” could indicate a 4th rate hike in 2018-that would be the only mkt. moving surprise tomorrow
I didn’t know that…if so, then gold could get its ass swatted pretty good
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This hawkishness will manifest itself in a gradual increase in the median dot for 2018, which according to Goldman will show a total of four interest rate hikes, up from the three projected at the March meeting. What is notable is that only one member would have to boost his or her 2018 projection above the March median for next week’s SEP to show a four-hike baseline this year, an increase which is certainly likely tomorrow. Goldman also expects the 2019 median dot to rise by a quarter point, consistent with three hikes in that year and one additional hike in 2020. This 4-3-1 baseline for 2018-19-20 compares to the March projected pace of 3-3-2.
I think gold goes up after the rate hike tomorrow
The rate hike is for sure…that’s supposed to be bearish for gold; bullish for dollar….but gold’s been firm for weeks and silver had a small rally in spite of the known coming hike….gold may sink after the FED announcement but will be bought and may have a gain for the day
Seattle repeals tax on companies after Amazon fights back
SEATTLE (AP) — Seattle leaders on Tuesday repealed a tax on large companies such as Amazon and Starbucks after a backlash from businesses, a stark reversal from a month ago when the City Council unanimously approved the effort to combat a growing homelessness crisis.
A divided crowd chanted, jeered and booed at the council meeting, drowning out the leaders as they cast their 7-2 vote. Many shouted, “Stop the repeal,” as others unfurled a large red banner that read, “Tax Amazon.” An opposing group held “No tax on jobs” signs.