On Friday Donald J Trump became the 45th President of the United States of America.
[…] Gold prices were surprisingly muted on Friday but did begin to rise towards the end of trading and rose from below $1,200 to over $1,212 per ounce before closing slightly lower at $,207.60 per ounce.
Gold is looking very healthy technically and has risen for four weeks in a row and reached a two month high this morning at $1,219.43 per ounce – its highest since November 22nd. According to Bloomberg holdings in gold-backed ETFs climbed for the fifth day in a row by 0.9 tons.
Gold is gaining on increasing investor concern about the Trump Presidency and uncertainty regarding what is set to be his radically different term in office. The dollar has continued to weaken as markets prepare for major changes to US trade, economic and foreign policies.
India’s Prime Minister Narendra Modi announced on 8th November 2016 that Rs 500 (~$7.50) and Rs 1,000 (~$15) banknotes would no longer be legal tender.
[…] Here are links to Part-I, Part-II, Part-III, Part-IV, Part-V, Part-VI, Part-VII, and Part-VIII, which not only provide updates on the demonetization saga, but explore and dissect India’s culture and why in this country of 1.34 billion — more than 1 out of every 6 human beings on the planet — so many exist in wretched poverty in this modern age, in an insect-like existence.
U.S. stocks flipped between small gains and losses Monday as investors grappled with uncertainty over the policies of U.S. President Donald Trump as well as mixed quarterly results.
Thirty-four S&P 500 components are scheduled to report results this week, including Halliburton Co, McDonald’s Corp and Yahoo Inc. on Monday. Of the 54 companies that have reported so far, 74% are beating earnings estimates by a median of 5%, according to Fundstrat.
The Dow Jones Industrial Average DJIA, -0.32% was off by 13 points, or less than 0.1%, at 19,815, with McDonald’s Corp MCD, -0.88% and General Electric Co GE, -1.54% leading the losses, down more than 1%. The S&P 500 SPX, -0.40% slipped 2 point to 2,270, with five of the main sectors trading lower. The Nasdaq Composite COMP, -0.36% gained 4 points to 5,558.
Good Day… And a Marvelous Monday to you! I’ve been awake for a while this morning, and when I did wake up, I initially thought, no Pfennig today, it’s a holiday… But that was last week, and quickly realized that, and got up and got to work! Some very strong thunderstorms are moving through the area and the lightening show is impressive! My phone keeps beeping weather alarm, that tornadoes have been sighted… Crazy, eh? Other than that, the weekend weather was absolutely Chamber of Commerce! Rod Stewart greets me this morning with his song: Reason To Believe, which is something I wish the whole country would think about doing… Believing.. That is until proven that things won’t work…
The Left is not just in disarray–it is in complete collapse because the working class has awakened to the Left’s betrayal and abandonment of the working class in favor of building personal wealth and power.
The source of the angry angst rippling through the Democratic Party’s progressive camp is not President Trump–it’s the complete collapse of the Left globally. To understand this collapse, we turn (once again) to Marx’s profound understanding of the state and capitalism.
We turn not to the cultural Marxism that is passingly familiar to Americans, but to Marx’s core economic analysis, which as Sartre noted, is only taught to discredit it.
In the last few months, the world’s political and religious leaders have been making trips to the continent at the bottom of the world—Antarctica. Author of “Empire Beneath the Ice” (second edition December 2016). Steve Quayle says people should take notice. Quayle explains, “What really is going on down there? Here is the billion dollar question, and probably the trillion dollar question: Why are the world’s religious leaders and the world’s most powerful leaders going to Antarctica? I don’t think the Russian Patriarch Kirill is going down there to meet penguins, with no disrespect meant. Someone or something has summoned the world’s leaders.”
Quayle also says, “Most people don’t understand, and this is critical, the United States, in 1947, sent a war flotilla to the Antarctic under Admiral Byrd and it was called “Operation Highjump.” It was to seek out and destroy the hidden Nazi bases that intelligence agencies provided them the documentation for. It wasn’t a small thing. There were 13 ships and 4,700 men and state of the art U.S. weaponry. The bad news is we got our rear ends kicked. Russians were spying on us, and they had a video of our aircraft encountering flying saucers.”
James Howard Kunstler returns to the podcast this week, observing that despite the baton being handed to a new American president, the massive predicaments we face as a society remain the same. And it seems the incoming administration is just as in denial of them as the old.
Kunstler adds fresh critique to his now decades-old warning that we are sleepwalking our way deep into the Long Emergency. The longer we delude ourselves and waste our energies in pursuit of reviving the failed “endless growth” model, the farther our journey back to a sustainable way of living will be when our current system collapses:
I don’t think there is any sense that they really know where we’re headed, what our destination is, and what the imperatives are and what the future is actually telling us that we need to do. Don’t forget that the so-called psychology of previous investment is a very powerful force in American life and it’s prompting us to do everything we can to maintain the investments we’ve already made. Those investments are the ones I have already mentioned: the freeways, the suburban housing developments, the strip malls.
Jay Taylor’s Gold Energy & Tech Stocks Newsletter has unearthed some huge winners lately. Here’s an excerpt from his weekly update that concludes with three top junior gold miners.
The Crack-up Boom Is Ending and That’s Very Bullish for Gold
Straight out of the Ten Commandments was “Thou shalt not steal”! But massive robbery has been institutionalized by the petrodollar orchestrated by Kissinger after Nixon defaulted on the U.S. obligations under Bretton Woods. With that, the ruling elite pulled off the biggest heist by far in human history. By combining America’s military power with the petrodollar, not only did it enable the U.S. to rob the rest of the world with its fake currency—the dollar—it also paved the way for our eventual ruin. Like a drug addict that gets addicted to crack cocaine, the American Military Industrial Complex and other government entities became addicted to never-ending greater and greater government expenditures. But there is one problem with the fiat dollar and that is that it is itself a big fat lie. The dollar has no value. It is not backed by anything of value. In fact it is manufactured by debt and as such contains value only to the extent debts can be repaid.
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