Argentina to Circumvent US Supreme Court Bond Ruling Via French Banks; Comments on “Vulture” Funds

It’s increasingly likely that Argentina will come up with a way to get around a US supreme court ruling on bond payouts. Here is the background …Argentina defaulted on bonds following a debt crisis in 2001-2002. 92% of the investors agreed to haircuts, but an alleged “vulture fund” picked up an 8% share at rock bottom prices and refused to negotiate. In June, the US Supreme Court ruled that Argentina Cannot Selectively Default on the small group of hold-outs. Today El Pais reports Argentina Offers to Pay Creditors in France. Comments Regarding “Vultures”I have nothing against “vultures” and do not even like the term. In general, vultures serve a purpose, as do those who short stocks. That said, I find the US Court ruling that Argentina Debt Swap Proposal is Illegal rather odious.

This post was published at Global Economic Analysis on September 03, 2014.

HOUSING RECOVERY MY FAT ASS

These charts never grow old whenever you want to reveal the truth about the ‘healthy’ market driven housing recovery touted by the moronic media, the Wall Street shysters and the national association of lying realtors. Shockingly, mortgage applications to purchase a home FELL again last week.
Mortgage rates have been falling for the last 14 straight months to a new low of 4.25% for a 30 Year Mortgage. According to the MSM and the government we’ve been adding jobs at a rapid clip for the last year. Obama tells me we’ve added 10 million jobs since he assumed command. The stock market is at all-time highs. It sure sounds like everything is coming up roses. Ask yourself a couple questions. Why are mortgage applications to purchase a home down 12% versus one year ago?
Why are they lower than they were in 2010 at the recession lows?
Why are they at 1997 levels, well before the housing boom took hold?

This post was published at The Burning Platform on 3rd September 2014.

The September Start of War

QUESTION: Mr. Armstrong; The fact that you gave us all warning of the turn in the Cycle of War coming in 2014 back at the 1998 conference and at 2011 conference, was truly amazing to watch how this has all worked out. But the stunning realization that you pinpoint Ukraine as the flash point and then said it will turn up in September which has arrived with the Russians openly invading Ukraine, I just do not know how anyone from the goldbugs to government cannot appreciate what you have done with analyzing time. They expose their own stupidity and bias by trying to criticism you on a personal level when you have shown us this is not opinion or just outright ignore you and hope you go away. People should be supporting your work and the sooner you go public the better.
Do you have any idea what makes this all work so precisely? The ECM picks events to the day, but you said this war in Ukraine would turn up starting in September. Your timing is truly amazing.
Thank you so much for showing us a new way to look at everything. I use to attend various lectures on cyclical analysis. But they seemed primitive at best and only concerned about trading some single market thinking they have conquered the world. Nobody has ever comprehended the global connectivity that you show us all the time. I really do hope the government would just for once care about society and listen to what your models really project. So many lives would be saved not to mention money from chasing absurd ideas like global warming that is obviously a natural cycle. It is a shame the analytical community does not stand up and support you rather than trying to compete with you when they cannot even understand the depth to which you have taken cyclical analysis.
Thank you once again for showing us the light.
HRK
ANSWER: Thank you. I am very glad that some people are starting to see that this is something very important that could really change the future is implemented. We are trying to take this public to protect everything and then hopefully the technology can be applied to many fields. Ego keeps the industry fragmented. Only when we crash and burn does it appear that there would be any type of unity in the analysis community. They argued Keynes was nuts until the Great Depression hit. This is just how it functions. As for a market forecasters, generally all they are doing is trying to make a buck. They are not normally inspired by lofty goals. They are content trying to develop just trading systems to sell.

This post was published at Armstrong Economics on September 3, 2014.

Vital, New Batchelor-Cohen

With all of today’s varied rumors of war and peace, it is more important that ever that you stay updated on The Ukraine Crisis. To that end, here’s last evening podcast from John Batchelor and Stephen F. Cohen.
This podcast could not be more timely. Please take the time to give it a thorough listen but the second half, beginning near the 20:00 mark, is particularly pertinent given the NATO summit that begins tomorrow in Wales.
CLICK HERE TO LISTEN

This post was published at TF Metals Report on September 3, 2014.

In Addition To The Latest Fake Ceasefire, Here Is What Else Happened Overnight

As reported earlier, the biggest overnight news took place just around 4am Eastern when futures exploded to new ATH on headlines of a new ceasefire in Ukraine, which was promptly refuted by both Putin and the rebels, but futures don’t care and have continue raging higher, in hopes of sweeping the latest batch of ugly economic news out of Europe, this time in the form of Europe’s non-mfg PMIs, under the rug.
As RanSquawk summarizes, heading into the North American open, the bulk of the morning’s price action has been provided by news that Ukrainian President Poroshenko said that he reached an agreement with Russia’s Putin on a “permanent cease fire” in Eastern Ukraine’s Donbass region. This saw an immediate spike higher in European equities with the DAX future rallying and breaking above its 100DMA seen at 9644.50, thus extending earlier gains that stemmed from the strong performance in Asia-Pacific equities, while the e-mini S&P once again printed a fresh record high. However, these moves staged a partial reversal amid comments from Russia’s Putin that he denied that such an agreement had been reached as Russia is not a party to the Ukraine conflict. In stock specific news, Russian exposed Raiffeisen Bank outperforms Europe ( 7%) in reaction to the geopolitical developments, while Hugo Boss have underperformed throughout the session following a share placement which came in at the lower end (-5.3%).
A quick recap of the Euroarea final, and disappointing, composite PMI data from Goldman.

This post was published at Zero Hedge on 09/03/2014.

When A Marketing Campaign Goes Horribly Wrong

It has been a bad year for Malaysian Airlines: following the disappearance of MH-370 (which to our knowledge still hasn’t been found), and the crash of MH-17 (which to our knowledge still hasn’t had its Kiev ATC recordings released) the country’s national carrier reported it would be delisted, and nationalized, with a follow up report last week that some 6,000 workers would be laid off to enjoy the recovery “confirmed” by the market’s all time highs on their own. The year not only got worse, but outright bizarre, macabre and morbid following a marketing ploy revealed last week in which would-be passengers were given a chance to win a ticket if only they shared their… bucket list?
According to the Malay Mail, reported by Time, Malaysia Airlines launched a competition in Australia and New Zealand four days ago, according to media reports, in which it said it was giving away free economy-class tickets and free iPads. The competition name was, to say the least, bizarre: My Ultimate Bucket List. Contestants had to explain ‘What and where would you like to tick off on your bucket list?’

This post was published at Zero Hedge on 09/02/2014.

U.S. Army Drills To Battle Political Dissent And Fight Crime In ‘Megacities’

This article was written by Eric Blair and originally published at Activist Post
As we’ve witnessed recently in Ferguson, Missouri, the difference between police and military is already nearly indistinguishable. In other words, the Army is already taking on peaceful citizens in domestic cities. Tank-supported SWAT teams already grenade and raid homes to serve warrants for victimless, non-violent offenses. What more can they possibly train for?
The U. S. Army is now officially getting into the crime-fighting business. According to the Army Times, the Army is training to fight battles in megacities, not against other armies, but to help local authorities root out shadowy criminals, extremists and, wait for it, wait for it, influential political dissidents.
The Army Times reports on this year’s Unified Quest war games drill:
“When the Army looks to the future, it sees cities. Dense, sprawling, congested cities where criminal and extremist groups flourish almost undetected by authorities, but who can influence the lives of the population while undermining the authority of the state. And the service is convinced that these ‘megacities’ of 20 million or more people will be the battleground of the future.”

This post was published at Alt-Market on 01 September 2014.

Keiser Report: Islamic State Startup (E648)

The following video was published by RT on Sep 2, 2014
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the Islamic State resembling the Taliban with oil fields – ie a whole lot like Oklahoma. They also discuss the new Misery Index, which shows labor force participation and velocity of money plunging. Meanwhile, back in America naked incidents are on the rise and, in Europe, suicide tourism rises four-fold. In the second half, Max continues his interview of bitcoin mogul, Trace Mayer, about bitcoin, central banking and geopolitics.

False Flag Warning: Expert Reports ‘Imminent’ ISIS Threat To The U.S. Power Grid- Episode 456

The following video was published by X22Report on Sep 1, 2014
UK shocked as manufacturing growth has ended. Germany’s GDP has fallen by 0.2%. Europe is suffering from a decline in factory orders. Ecuador looking to replace the dollar with a digital currency. Facebook posts could get you on the US Government terrorists watch list. Ebola breakouts seems to coincide with new oil discoveries in West Africa. Dutch government will not release the voice recording. The Islamic State might have the ability to bring down the power grid in the US according to an expert. The central bankers/US Government have been pushing propaganda warning about the Islamic State terrorist attacks. We know its a false flag event. We know this will be an inside job to get the country into WWIII.

Luhansk effectively falls to Russia

The Ukrainian army has lost the battle for the airport of Luhansk. Ceasefire talks in Ukraine collapsed ending hours after Kiev was compelled to order its army to withdraw from a key eastern airport in Luhansk after coming under a serious assault from separatists fighters reportedly backed by a Russian Panzerbatallion that included an army tank column. Luhansk is the furthest province of Ukraine and it appears that the invasion has begun. It will be spearheaded by the separatists maintain that it is not a direct Russian invasion. The fall of Ukraine is not out of the question. However, this will be the flash-point for all hostilities ahead.

This post was published at Armstrong Economics on September 1, 2014.

US Army Drills To Battle Political Dissent And Fight Crime In ‘Megacities’

As we’ve witnessed recently in Ferguson, Missouri, the difference between police and military is already nearly indistinguishable. In other words, the Army is already taking on peaceful citizens in domestic cities. Tank-supported SWAT teams already grenade and raid homes to serve warrants for victimless, non-violent offenses. What more can they possibly train for?
The U. S. Army is now officially getting into the crime-fighting business. According to the Army Times, the Army is training to fight battles in megacities, not against other armies, but to help local authorities root out shadowy criminals, extremists and, wait for it, wait for it, influential political dissidents.
The Army Times reports on this year’s Unified Quest war games drill:
“When the Army looks to the future, it sees cities. Dense, sprawling, congested cities where criminal and extremist groups flourish almost undetected by authorities, but who can influence the lives of the population while undermining the authority of the state. And the service is convinced that these ‘megacities’ of 20 million or more people will be the battleground of the future.”
Talk about expanding the role of the armed forces. The Army has been training in urban warfare for decades geared toward fighting insurgents and terrorists (those who commit violence).
That’s why this announcement is so stunning. Look closely at the new definition of enemy:
Criminal and extremist groups…undetected by authorities, but who can influence the lives of the population while undermining the authority of the state.
No mention of the word “violence” and it seems like they’re targeting political dissent.

This post was published at Alt-Market on 01 September 2014.

ISIS Is Internet Savvy.

A Los Angeles Times story reports on how well organized ISIS is with respect to the Internet. It gets it story to its target audiences.
Today, media-savvy militants in Iraq and Syria post graphic photos and slick recruitment videos on Facebook and Twitter, and even developed a now-defunct Android smartphone app that would automatically tweet from users’ accounts. Fighters in the field answer questions from supporters on websites and chat rooms that allow users to remain anonymous.
‘Back in the old days, jihadists would be depicted in recruiting photos with a rifle or a bomb,’ said Steven Stalinsky, executive director of the Middle East Media Research Institute, a nonprofit group based in Washington. ‘Now the laptop and hand-held device are just as important.’

This post was published at Tea Party Economist on September 1, 2014.

Cuban Tariffs: ‘Bad!’ American Tariffs: ‘Good!’

Cuba is officially Communist. So, Americans know that the government’s regulations are bad for the people. They understand that Communist government regulations increase the poverty of families, who face much harder times. ‘Fidel Castro is a bad guy. So is his kid brother.’
So, when they read of import restrictions like these, they know for sure that it’s another mark of Communist tyranny.
Hundreds of thousands of Cubans and Cuban-Americans fly to and from the island each year thanks to the easing of travel restrictions by the U. S. and Cuban governments over the last five years. Their Cuba-bound checked baggage has become a continuous airlift that moves nearly $2 billion of products ranging from razor blades to rice cookers. The baggage carousels at Cuba’s airports often look like they’re disgorging the contents of an entire Wal-Mart or Target store. Many families bring special trailers to carry the bags of their returning family, which often weigh many hundreds of pounds and include items such as bicycles and flat-screen TVs.
But the Cuban government on Monday is enacting new rules meant to take a big bite of that traffic, sharply limiting the amount of goods people can bring into Cuba in their luggage, and ship by boat from abroad. The Cuban government says the restrictions are meant to curb abuses that have turned air travel in particular into a way for professional ‘mules’ to illegally import supplies for both black-market businesses and legal private enterprises that are supposed to buy supplies from the state.
The government has imposed 41 pages of new rules on imports.

This post was published at Tea Party Economist on September 1, 2014.

The Financial War Waging Underneath The Surface PART 2 – The Daily Coin

(By The Daily Coin)
We cover three crucial topics – the economics of the new marijuana laws, the Shanghai Cooperation Organization and we wrap up with Fukushima. Fukushima is a global problem that is getting zero coverage. There is so little information being transferred about this ongoing nightmare that it is appalling.
We quickly turn to the Shanghai Cooperation Organization (SCO). Dave explains that the SCO is the Eastern version of NATO, with one major exception. Eric picks up and details how the SCO will encompass somewhere around 50% to 65% of the global population and three-fourths of the global mineral wealth, including oil. To all you scum-sucking bottom feeders in New York, Washington DC and London – put that in your pipe and smoke it!! This plays a big part in the current events in Eastern Ukraine, Syria and Iran.
SOURCE


This post was published at SRSrocco Report on September 1, 2014.

Germany delivers 16,000 assault rifles, 10,000 grenades to Kurds in Iraq

10,000 hand grenades, 16,000 rifles, 240 rocket-propelled grenades: Germany sends military equipment for 4000 Kurdish fighters in northern Iraq. This was decided by the Federal Government on Sunday evening.
Berlin – The fight against the jihadists of the ‘ Islamic State ‘(IS) will theKurds in northern Iraq, among other anti-tank missiles ‘Milan’ and bazookas from Germany. The’ve Federal Foreign Minister Frank-Walter Steinmeier and Defense Minister Ursula von der Leyen said. It previously with a ministerial meeting headed by Chancellor had Merkel in Berlin agreed.
Germany sends 16,000 assault rifles, 40 machine guns, 240 rocket-propelled grenades, 500 anti-tank missiles and 10,000 hand grenades to the Kurds, as is evident from a statement by the Ministry of Defence. In addition, to SUVs and five armored patrol vehicles of the type ‘Dingo 1′ supplied (a complete list can be found below this article). The Federal Government had, moreover, because of the catastrophic humanitarian situation in Iraq ‘started with the provision of auxiliary services at an altitude of 50 million euros so far.’

This post was published at Investment WatchBlog on September 1st, 2014.

Putin to Barroso: ‘If I want, I’ll take Kiev in two weeks’

Ukraine, Putin’s blackmail on the European summit: ‘If I want to take Kiev in two weeks ‘
He says that when he asked about the military boundless in Ukraine, the Russian leader went to the threats: ‘The problem is this – it’s the answer told by Tsar Barroso – but what if I want to take Kiev in two weeks.’ As if to say, do not provoke me to anger with new sanctions. Even the British Cameron – that in view of the NATO summit Thursday in Cardiff is working in a multinational force of 10 thousand men to send a signal to the Kremlin – is drastic: ‘This time we can not meet the demands of Putin, has already taken the Crimea and we can not allow that to take over the country, we risk repeating the mistakes made ??in Monaco in ’38, do not know what will happen next. ‘ Prophetic since yesterday Putin has suggested negotiations to crystallize the situation in Crimea and other areas controlled by the separatists. Several delegations confirm the dialogue between the leaders, but in many invite you to weigh carefully since during an exchange ‘frank’ behind closed doors often the concepts are forced to support their position. Renzi invites colleagues to calm, said to understand the but concerns that Russia remains a strategic from the point of view of economic, energy and theaters of crisis in Syria and Iraq

This post was published at Investment WatchBlog on September 1st, 2014.

Just Admit It: You (and your kids) Are State PROPERTY

Still think you have “freedom” eh? Still think you’re the actual parents of your children, and that you should be the ones making decisions about their lifestyle and heatlh? Or are you simply where all the liabilities reside for the decision to have them, while the choices belong to someone else — you know, like a slave?
Police have rejected criticism of their search for a five-year-old boy with a brain tumour removed from a UK hospital by his parents against medical advice.
Ashya King was found in Malaga on Saturday and his parents arrested, following an international search.
His father Brett King defended his actions in a video posted on YouTube, saying there had been a “ridiculous chase”.
Hampshire Police said medical advice was that Ashya was in “grave danger”.
The parents, it turns out, wanted their kid to be treated using a therapy not offered by the UK’s socialized medical services. Specifically, they wanted to use proton beam therapy rather than what the UK wanted to use (effectively gamma radiation.) The difference is that proton beam therapy is a more-targeted form of radiation than gamma. Both are of the same general type, and there is much dispute as to whether proton therapy is as effective in specific cancers. Then again there’s plenty of argument over whether radiation therapy actually “works” (that is, does less harm and good) in these cases to begin with.

This post was published at Market-Ticker on 2014-08-31.

U.S. Court rules that biotech corporations can’t force grain elevator companies to accept GMOs

A federal appeals court has ruled that a biotech giant cannot force a grain elevator firm to store a strain of genetically modified corn. As reported by agriculture website Capital Press, Syngenta attempted to employ a 100-plus-year-old warehouse law to force the elevator company, Bunge, to accept the GM corn. The ruling may preempt other makers of GM seeds and crops from using the same litigation tactic against grain elevators that have refused to harbor crops with altered transgenic traits, according to experts. Controversy began in 2011, Capital Press reported, after Bunge operators refused to accept the Syngenta Seeds-produced Agrisure Viptera variety of corn. The elevator operators told farmers growing the GMO strain that they could not take it because it had yet to clear legal and regulatory requirements in all major export destinations. At the time, the strain had yet to be accepted by the Chinese government.‘You don’t have a private cause of action’Capital Press noted:In response, Syngenta filed a lawsuit accusing Bunge of violating the U. S. Warehouse Act of 1916, which requires elevators to treat depositors fairly.
Farmers who grew Viptera corn had to ship their crops to other elevators and find other sources of corn to fulfill their contracts with Bunge, which hurt Syngenta’s reputation and market share, the biotech company claimed.

This post was published at Natural News on Sunday, August 31, 2014.

A Big Summer Story You Missed: Soaring Oil Debt

Over 100 of the world’s largest energy companies are running out of cash
Some of the summer’s biggest news stories took place in the bombed schools of Gaza, the abandoned hospitals of the Democratic Republic of Congo, the wheat fields of eastern Ukraine and the bloody mountains of northern Iraq.
But one of the most important made virtually no headlines at all, and seemed to only appear on the website of the U. S. Energy Information Administration.
Last July the government agency, which has collected mundane statistics on energy matters for decades, quietly revealed that 127 of the world’s largest oil and gas companies are running out of cash.
They are now spending more than they are earning. Profits have lagged as expenditures have risen. Overburdened by debt, these firms are selling assets.
The math is simple. The 127 firms generated $568 billion in cash from their operations during 2013-2014 while their expenses totalled $677 billion. To cover the difference of $110 billion, the energy giants increased their debt load or sold off assets.
Given that the gap between earned cash and spending stood at a modest $10 billion in 2010, that’s a significant change for the industry as well as the global economy it fuels.

This post was published at Silver Bear Cafe on August 30, 2014.