Big market correction coming Sept\Oct !

[Zionbrion]

Idiit, maybe you can help with my question

https://projectavalon.net/forum4/show...ilver-Peddlars

[PathWalker]

MSM is catching up, follow the money path.
http://www.marketwatch.com/story/jum...ist=beforebell

Jump on the George Soros coal train
The gorilla in the room is George Soros, whose company bought stakes in both Arch Coal ACI, -3.85% and Peabody Energy BTU, -0.62% in August. Another gorilla is hedge fund manager Leon Black, whose company quietly bought a stake in Arch earlier this year.

If we put conspiracy theories aside, especially when it relates to Soros and his quite outspoken and negative stance on coal, then we are left with the idea that two very smart players, a.k.a. “smart money,” know something. If anything, the Soros purchase especially lit the very dry tinder of these stocks for a monstrous, albeit short-lived rally. Arch moved from the $2 level to $10 in less than two weeks’ time before giving back most of it.

This reminds me of Start Wars episode 3 'Revenge of the Sith'. It is the final episode where the evil force reveals itself with extra deception and deceit.

BTW, following the analogy. I believe Soros is an active member of the 'Sith'. But not master, nor lord.
I trust the dark force to betray and deceit Soros as well. Let them eat their own food.

[Pam]

As of this morning the rate of the us 10 year treasury has dropped 12 basis points in a very short time. The rate has been dropping like a rock for over a week. Can the dollar be artificially strengthened to drop the interest enough to compensate for a rate increase of 25 basis points so the fed can increase the rate with effectively no change whatsoever? Allowing for the false impression that everything is great in this economy.

[idiit]

Are we about to witness the most important global financial event since the collapse of Lehman Brothers in 2008?

Glencore has been known as the largest commodities trading company on the entire planet, and at one time it was ranked as the 10th biggest company in the world. It is linked to trillions of dollars of derivatives trades globally, and if the firm were to implode it would be a financial disaster unlike anything that we have seen in Europe since the end of World War II. Unfortunately, all signs are pointing to an inescapable death spiral for Glencore at this point

The stock price was down nearly 30 percent on Monday, and overall Glencore stock has plunged nearly 80 percent since May. There are certainly other candidates for “the next Lehman” (Petrobras and Deutsche Bank being two perfect examples), but Glencore has definitely surged to the front of the pack. Right now many analysts are openly wondering if the firm will even be able to survive to the end of next month.

Investors had to pay on Monday more than $790,000 a year to insure $10 million of Glencore debt against default for five years using credit default swaps, according to Markit, more than 40% higher than Friday. At the beginning of the year, the same insurance cost $154,000.

http://www.silverdoctors.com/is-glen...st/#more-58464

^ explains how derivative debt, liquidity problems, and the expense of hedging risk are all tied together into global economic meltdown.

very good read that enables one to understand what's going on in terms anyone can understand.

not a game.

normalacy bias ( not wanting to deal with the facts of the new paradigm ) is just crawling up into a bubble and pulling the blanket up over one's head.

best get prepared.

hopefully we get divine intervention (not as far fetched as it sounds imo) from higher dimensional ed's.

imo physical silver is the best financial preparation and silver is running out.



^ comes from a good article that spells it out in lay terms: http://www.silverdoctors.com/india-i...es/#more-58592

PREPARING FOR COLLAPSE: Record Eight-Year Silver Buying Intensity Continues
Posted on October 4, 2015

http://www.silverdoctors.com/prepari...ity-continues/

[idiit]

the rothschilds control global currency. they have replaced real money (gold/silver) with fiat currency based on an intentional debt slavery system aka "green slavery". the Zionists can and do virtually create $trillions of $frn. they counterfeit their own currency with zealous abandon. the latest scam is to have the Zionist controlled banks short sell us-treasuries. they sell bonds ( usa t-bonds) they don't own into the market. these are called "failure to deliver" in white collar criminal parlance. jim willie believes the evidence points to 1 $trillion a month just in fake t-bond sales by the rothschilds bank's to support their derivative and hedging losses. that's just "failure to deliver" counterfeiting. QE∞ ( QE to the infinity power) is now the Zionist strategy.

the new financial system will go to trade based global financial transactions. the medium of exchange will be physical gold backed trade notes since the brics control global trade. they will temporarily bypass "money" and go to the mechanism they control; gold and trade.

a new global financial reset is imminent, real imminent. it is a recalculation of the price of gold/silver. it will very likely be dramatic. all fiat currencies will be devalued into oblivion; worthless.

the usa has no gold. it's been stolen under the guise of "leasing".

the new global financial system will be governed by trade, not fiat currency. trade backed by physical gold/silver trade notes.

the usa exports gmo food, weapons, tobacco and alcohol. America is poorly prepared for a trade based global financial system as no one will want their toxic exports. America has no gold.

Right Now There Are 102.6 Million Working Age Americans That Do Not Have A Job, That Is Not An Economic Recovery – That Is An Economic Depression Of An Almost Unbelievable Magnitude

^http://revolutionradio.org/?p=109863

America has replaced manufacturing jobs with electronic foodstamps/welfare. when america's frn$ is no longer accepted by trading nations the country that until recently consumed 60% of the worlds mfg. goods will not have the physical gold/silver nor trade goods wanted by other trading nations.

jim willie is excellent at explaining this as well as other essential financial topics. here is his latest podcast interview broken into 2 1 hour segments:

https://www.trunews.com/tuesday-sept...m-willie-pt-1/

Wednesday September 30, 2015 – Jim Willie Pt. 2
Read more at https://www.trunews.com/wednesday-se...3XlaWjCp0Br.99

the new brics alliance that is already over 140 nations strong is forcing a return to real money. gold/silver trade notes will be the interim means used to get away from the genetically reptilian Zionist control systems.

[Pam]

Thanks, idiit. I appreciate you taking the time to educate those of us that want to learn more about this precariously balanced house of cards. You have also provided some really good sources of information that I knew nothing about.

[idiit]

derivative debt, liquidity problems, and the expense of hedging risk are all tied together into global economic meltdown.
^ from earlier post. silver doctor's article and jim willie podcast in my last post were explaining "it". this graph dramatically depicts what they are talking about.

You can also see from this graph that the size of the “spike” occurrences in reverse repo operations has significantly increased since 2014 relative to the spike up in 2008. In fact, the latest two-week spike is by far the largest reverse repo operation on record.

Without a doubt, the graphs above are telling us that something “broke” in the banking system which necessitated the biggest injection of Treasury collateral in history into the global banking system by the Fed.

http://www.silverdoctors.com/fund-ma...-in-september/

the graph does not show the enormous "failures to deliver" in the usa treasury counterfeiting scheme to artificially shore up federal reserve controlled big bank's derivatives losses.

[Pam]

I pulled this thread out to add some new information that may be the start of something big, if my gut instinct is right.

I found this on Market Watch this morning;

A high-yield mutual fund is blocking investors from withdrawing their money, in a rare and jarring move amid a severe downturn in below-investment-grade and distressed debt.

The move at Third Avenue Focused Credit Fund is intended to facilitate an orderly liquidation of the fund, which recently had $789 million in assets, down from more than $2.4 billion earlier this year. It comes amid redemption requests at the fund and reduced liquidity in some parts of the bond market.

Those two factors made it “impractical” for the fund to pay off departing investors without selling holdings at fire-sale prices “that would unfairly disadvantage the remaining shareholders,” David Barse, chief executive of Third Avenue Management LLC, wrote in a letter to shareholders dated Wednesday.

“Most mutual-fund investors are under the presumption that their money is available for them at a moment’s notice,” says Jeff Tjornehoj, head of Americas research at Thomson Reuters Lipper. While investors understand that the higher yields of junk bonds come with risks, he said, “I don’t think many of them ever plan on a fund blowing up like this.”

The move at the Third Avenue mutual fund comes at a time of widespread uneasiness about holdings of hard-to-sell securities in funds that trade daily or intraday.

So, this is the first fund that I am aware of that is having liquidity issues to the point that folks can't even sell their shares. It is all too reminiscent of the 2008 financial debacle and the Madoff Ponzi scheme. I know this is not the same but the desperation seems to be equal. With oil falling to 35.00 usd a barrel, and due to the fact that many low quality bonds are issued from the energy sector, junk bonds are taking even a bigger hit. There are some PA members that are really sharp with their assessments of the financial situation, I would like to know what you guys are thinking about this?

I just don't see how commodities, particularly oil, can continue this free fall without the house of cards falling sooner or later.

[umar]

Zerohedge reports that second distressed bond fund Stone Lion setup by former Bear Stearn employees has stopped redemptions too.

And the Carl Icanh's warning that this is the beginning of HY collapse.

The way it looks, if nothing changes Monday could turn out to be bad. Already in many emerging markets stocks are close to below the August flash-crash lows.

How is Janet Yellen raise rates is now a mystery. The problem is if she doesn't then dollar will crash more and fear will likely intensify.

[Pam]

Thanks for the added information, umar and a belated welcome to PA!!!!! I just can't help but believe this is the beginning of something bigger. Well, not actually the beginning. We have been watching the set up for a long time now. I think this might be the time where we see the repercussions. The culminating events will be the final drops in oil, the years of easy, low rate lending to corporations and possibly the rate hike.... we will see......I am certainly a novice in this area and the ,members that are really educated in this field must not be picking up the same things, as I don't see them joining in at this time.

[mgray]

Here's the latest I'm hearing on the junk bond implosion. Like CDOs and ABSs in 2008, these high-yield bombs will seize markets as many Main Street mutual funds were trying to dress up their returns with these debt bombs.

[Pam]

Posted by mgray (here)
Here's the latest I'm hearing on the junk bond implosion. Like CDOs and ABSs in 2008, these high-yield bombs will seize markets as many Main Street mutual funds were trying to dress up their returns with these debt bombs.

Thanks mgray, for the wonderful assessment on your blog. I read it all the time and wasn't aware that you did a Saturday edition this week. Mgray has a most insightful blog, I have really learned a lot from him and highly recommend it for anyone interested in the truth about the happenings on Wall Street.

[mgray]

Posted by peterpam (here)

Posted by mgray (here)
Here's the latest I'm hearing on the junk bond implosion. Like CDOs and ABSs in 2008, these high-yield bombs will seize markets as many Main Street mutual funds were trying to dress up their returns with these debt bombs.

Thanks mgray, for the wonderful assessment on your blog. I read it all the time and wasn't aware that you did a Saturday edition this week. Mgray has a most insightful blog, I have really learned a lot from him and highly recommend it for anyone interested in the truth about the happenings on Wall Street.

Peter, thank you for the kind words and endorsement. I usually do not post on Saturday, unless there is breaking news, which based on this could mean Saturday will be a regular posting day. lol

[pyrangello]

mgray, very cool to have you on board. My snapshot view from a business perspective , things are getting busier on an overall basis for anyone that wants to work, however from the financial world of banks, stocks ,oil and commodities and bonds and currency values that entire segment is like being out on a clipper ship with nothing but holes in all the sails and everyone is just grasping at whatever wave motion comes by to get some momentum. I listen to Joseph Meyer on caravan to midnight and read quite a few memos from Miles Franklin . Were on the 40 year cycle of money that should have already reset at the end of bush, then obama came in and that team put nitro in the piggy bank and printed and spent money to the high heavens . It only seems now that when artificial money isn't being pumped out that is when the economy starts rolling again but I fear that recovery of every time the monopoly money is thrown in the air its getting harder and harder for the real economy to start back up again.Does this make any sense or am I am I missing something here? And I welcome your thoughts or corrections.

Is this the end of the world, no, Its just another reset of a currency and a system eventually. Of the 600 or more currencies ever in existence , NONE of them have ever succeeded so were all just in another cycle once again and thats worldwide. Remember that ship I was talking about at sea with the banking industry and everyone else. I think I'll just sit on shore and watch it twirl around in the water and just buckle down for the long haul with me and my family, it may be a bumpy ride even on shore but will make it, and at least I won't be in the water with that ship and the sharks when it goes down. Its just a matter of when that happens.

[East Sun]

I don't know enough about financing to understand the ramifications involved, but I have a question--

When we are forced to go paperless and they crash the electronic grid, will we loose all our money whether in banks or under the mattress?

If we have nothing to barter with will we be up the creek without a paddle, so to speak.

[Pam]

Posted by East Sun (here)
I don't know enough about financing to understand the ramifications involved, but I have a question--

When we are forced to go paperless and they crash the electronic grid, will we loose all our money whether in banks or under the mattress?

If we have nothing to barter with will we be up the creek without a paddle, so to speak.

My thoughts about paperless money is that rather than taking it from you they will control you with it. If you don't cooperate in every way a hold will be placed on your funds. An advanced and expanded version of garnishing your paycheck, so to speak.

[umar]

Thanks Peterpam for the welcome!

And yes, that's a nice blog mgray has!

My guess is that Yellen will raise the rates this time by 0.25% but wrap it in lot of words that will be ultra dovish, kind of like saying next rise is long long time away.


HY bond market issues seem real but unless something catastrophic happens Yellen will keep to the rate rise plan. This is just to show they 'can' and maintain some credibility. US stocks might actually rise after that if Yellen can sell that confidence that everything is good.

But emerging markets like Brazil, India, Malaysia will be badly affected by capital outflows and plunging stocks, bonds and currencies there.

Emerging market crisis and HY bond crisis are the biggest risk now.

Like Peter Schiff had said, 2000 was the dotcom and stock bubble, 2008 was housing and stock bubble, this time it is stock, housing and bond bubble on a global scale.

It is difficult to think the central banks are so consistently and predictably incompetent. This must be design.

I agree with Peterpam above that paperless money is mostly about control. This is the total surveillance state. This is more political than economic.

In any case, I expect this coming week to be most interesting of the whole of 2015.

[East Sun]

That is [QUOTE=peterpam;1028952]

Posted by East Sun (here)
I don't know enough about financing to understand the ramifications involved, but I have a question--

When we are forced to go paperless and they crash the electronic grid, will we loose all our money whether in banks or under the mattress?

If we have nothing to barter with will we be up the creek without a paddle, so to speak.[/QUOTE

]My thoughts about paperless money is that rather than taking it from you they will control you with it. If you don't cooperate in every way a hold will be placed on your funds. An advanced and expanded version of garnishing your paycheck, so to speak.

That is part of their plan, no doubt!!!!!!!!!!!!!!

[mgray]

If you look at what the Federal Reserve has done over the last 7 years, it's one of the largest transfers of wealth in history. The US middle class is vanishing as $4.2 trillion was given to the upper class in a stock asset bubble.

Part time work can be found, but not work that can sustain a family with a home and car in the driveway. So to say that the dollar is going away anytime soon would be mistake. There's too much riding on it for the one's making the decisions.

I still feel at some point in the near future, there will be a global jubilee, where a percent of debt will be repudiated by all governments, since all know most of the debt on the books cannot and will not be paid.

By the way I see you are in northern Michigan, I assume the UP. My brother went to college in Houghton, MI at MTU. Remember visiting beautiful country up there.

[Callista]

From http://www.maxkeiser.com/2015/12/rei...or/#more-79112

Reinventing Banking: From Russia to Iceland to Ecuador

Posted on December 12, 2015 by Ellen Brown

Global developments in finance and geopolitics are prompting a rethinking of the structure of banking and of the nature of money itself. Among other interesting news items:

In Russia, vulnerability to Western sanctions has led to proposals for a banking system that is not only independent of the West but is based on different design principles.

In Iceland, the booms and busts culminating in the banking crisis of 2008-09 have prompted lawmakers to consider a plan to remove the power to create money from private banks.

In Ireland, Iceland and the UK, a recession-induced shortage of local credit has prompted proposals for a system of public interest banks on the model of the Sparkassen of Germany.

In Ecuador, the central bank is responding to a shortage of US dollars (the official Ecuadorian currency) by issuing digital dollars through accounts to which everyone has access, effectively making it a bank of the people.

Developments in Russia

In a November 2015 article titled “Russia Debates Unorthodox Orthodox Financial Alternative,” William Engdahl writes:

A significant debate is underway in Russia since imposition of western financial sanctions on Russian banks and corporations in 2014. It’s about a proposal presented by the Moscow Patriarchate of the Orthodox Church. The proposal, which resembles Islamic interest-free banking models in many respects, was first unveiled in December 2014 at the depth of the Ruble crisis and oil price free-fall. This August the idea received a huge boost from the endorsement of the Russian Chamber of Commerce and Industry. It could change history for the better depending on what is done and where it further leads.

Engdahl notes that the financial sanctions launched by the US Treasury in 2014 have forced a critical rethinking among Russian intellectuals and officials. Like China, Russia has developed an internal Russian version of SWIFT Interbank payments; and it is now considering a plan to restructure Russia’s banking system. Engdahl writes:

Much as with Islamic banking models that ban usury, the Orthodox Financial System would not allow interest charges on loans. Participants of the system share risks, profits and losses. Speculative behavior is prohibited . . . . There would be a new low-risk bank or credit organization that controls all transactions, and investment funds or companies that source investors and mediate project financing. . . . Priority would be ensuring financing of the real sector of the economy . . . .

On September 15, 2013, Sergei Glazyev, one of Vladimir Putin’s economic advisers, presented a a series of economic proposals to the Presidential Russian Security Council that also suggest radical change is on the horizon. The plan is aimed at reducing vulnerability to western sanctions and achieving long-term growth and economic sovereignty.


Particularly interesting is a proposal to provide targeted lending for businesses and industries by providing them with low-interest loans at 1-4 percent, financed through the central bank with quantitative easing (digital money creation). The proposal is to issue 20 trillion rubles for this purpose over a five year period. Using quantitative easing for economic development mirrors the proposal of UK Labour Leader Jeremy Corbyn for “quantitative easing for people.”

William Engdahl concludes that Russia is in “a fascinating process of rethinking every aspect of her national economic survival because of the reality of the western attacks,” one that “could produce a very healthy transformation away from the deadly defects” of the current banking model.

Iceland’s Radical Money Plan

Iceland, too, is looking at a radical transformation of its money system, after suffering the crushing boom/bust cycle of the private banking model that bankrupted its largest banks in 2008. According to a March 2015 article in the UK Telegraph:

Iceland’s government is considering a revolutionary monetary proposal – removing the power of commercial banks to create money and handing it to the central bank. The proposal, which would be a turnaround in the history of modern finance, was part of a report written by a lawmaker from the ruling centrist Progress Party, Frosti Sigurjonsson, entitled “A better monetary system for Iceland”.

“The findings will be an important contribution to the upcoming discussion, here and elsewhere, on money creation and monetary policy,” Prime Minister Sigmundur David Gunnlaugsson said. The report, commissioned by the premier, is aimed at putting an end to a monetary system in place through a slew of financial crises, including the latest one in 2008.

Under this “Sovereign Money” proposal, the country’s central bank would become the only creator of money. Banks would continue to manage accounts and payments and would serve as intermediaries between savers and lenders. The proposal is a variant of the Chicago Plan promoted by Kumhof and Benes of the IMF and the Positive Money group in the UK.

Public Banking Initiatives in Iceland, Ireland and the UK

A major concern with stripping private banks of the power to create money as deposits when they make loans is that it will seriously reduce the availability of credit in an already sluggish economy. One solution is to make the banks, or some of them, public institutions. They would still be creating money when they made loans, but it would be as agents of the government; and the profits would be available for public use, on the model of the US Bank of North Dakota and the German Sparkassen (public savings banks).

In Ireland, three political parties – Sinn Fein, the Green Party and Renua Ireland (a new party) — are now supporting initiatives for a network of local publicly-owned banks on the Sparkassen model. In the UK, the New Economy Foundation (NEF) is proposing that the failed Royal Bank of Scotland be transformed into a network of public interest banks on that model. And in Iceland, public banking is part of the platform of a new political party called the Dawn Party.

Ecuador’s Dinero Electronico: A National Digital Currency

So far, these banking overhauls are just proposals; but in Ecuador, radical transformation of the banking system is under way.

Ever since 2000, when Ecuador agreed to use the US dollar as its official legal tender, it has had to ship boatloads of paper dollars into the country just to conduct trade. In order to “seek efficiency in payment systems [and] to promote and contribute to the economic stability of the country,” the government of President Rafael Correa has therefore established the world’s first national digitally-issued currency.

Unlike Bitcoin and similar private crypto-currencies (which have been outlawed in the country), Ecuador’s dinero electronico is operated and backed by the government. The Ecuadorian digital currency is less like Bitcoin than like M-Pesa, a private mobile phone-based money transfer service started by Vodafone, which has generated a “mobile money” revolution in Kenya.

Western central banks issue digital currency for the use of commercial banks in their reserve accounts, but it is not available to the public. In Ecuador, any qualifying person can have an account at the central bank; and opening one is as easy as walking into a participating financial institution and exchanging paper money for electronic money stored on their smartphones.

Ecuador’s banks and other financial institutions were ordered in May 2015 to adopt the digital payment system within the next year, making them “macro-agents” of the Electric Currency System.

According to a National Assembly statement:

Electronic money will stimulate the economy; it will be possible to attract more Ecuadorian citizens, especially those who do not have checking or savings accounts and credit cards alone. The electronic currency will be backed by the assets of the Central Bank of Ecuador.

That means there is no fear of the bank going bankrupt or of bank runs or bail-ins. Nor can the digital currency be devalued by speculative short selling. The government has declared that these are digital US dollars trading at 1 to 1 – take it or leave it – and the people are taking it. According to an October 2015 article titled “Ecuador’s Digital Currency Is Winning Hearts!”, the currency is actually taking the country by storm; and other countries in Latin America and Africa are not far behind.

The president of the Ecuadorian Association of Private Banks observes that the digital currency could be used to finance the public debt. However, the government has insisted that this will not be done. According to an economist at Ecuador’s central bank:

We did it from the government because we wanted it to be a democratic product. In any other countries, [digital currency] is provided by private companies, and it is expensive. There are barriers to entry, like [expensive fees] if you transfer money from one cellphone operator to another. What we have here is something everyone can use regardless of the operator they are using.

Banking Moves into the 21st Century

The catastrophic failures of the Western banking system mandate a new vision. These transformations, current and proposed, are constructive steps toward streamlining the banking system, eliminating the risks that have devastated individuals and governments, democratizing money, and promoting sustainable and prosperous economies.

They also raise some provocative questions:

Would issuing “quantitative easing” to the tune of 20 trillion rubles for Russian development and trade trigger hyperinflation?
Could merging the Iceland version of the Chicago Plan with a public banking initiative return the power to create money to the public without collapsing credit?
How does the Ecuadorian national digital currency mesh with the “war on cash” underway in Europe?
These and related questions will be explored in later articles. Stay tuned.


Read more at http://www.maxkeiser.com/2015/12/reinventing-banking-from-russia-to-iceland-to-ecuador/#lXVsEuaxuCi5Sqit.99