Silver as an investment

Northwest Territorial Mint Scandal: Investors Had Fair Warning On This Blowup As Well

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

zerohedge.com / by Clint Siegner of Money Metals Exchange on 05/24/2016 18:28

Northwest Territorial Mint Scandal: Investors Had Fair Warning On This Blowup As Well

The news unfortunately just keeps getting worse for customers and creditors of Northwest Territorial Mint. The prominent bullion dealer located near Seattle, Washington filed for bankruptcy court protection at the end of March. The losses of customers who never received delivery of orders plus the losses of other creditors could be as high as $50 million, according to news reports.

The U.S. Trustee in charge, Mark Calvert, recently estimated the firm has $56 million in liabilities and only $6.4 million in assets. He figures the recovery for unsecured creditors will be less than 10%.

Northwest Territorial’s former owner, Ross Hansen, seems to be blaming the bankruptcy on a defamation lawsuit that he and his firm recently lost.

The judgment was $38.3 million in total and the court ordered Hansen to pay $12.5 million promptly. He filed for bankruptcy protection instead.

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Thanks to BrotherJohnF

Red Ponzi Out Of Control—-April Steel Production Equaled 106% Of Rest Of World

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

 

davidstockmanscontracorner.com / By David Scutt at Business Insider / 

For the second month in a row, China’s crude steel output was greater than the rest of the world in April.

According to the World Steel Association, China produced 69.4 million tonnes of crude steel, overshadowing the 65.5 million tonnes produced in all other nations.

The World Steel Association represents approximately 85% of global steel production, including over 150 steel producers.

Combined, there was 134.9 million tonnes of crude steel produced worldwide in April, down from 137 million tonnes in March.

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The post Red Ponzi Out Of Control—-April Steel Production Equaled 106% Of Rest Of World appeared first on Silver For The People.

Thanks to BrotherJohnF

What Will Sink the US Auto Boom?

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

wolfstreet.com / by Wolf Richter • 

It’s already in the works and goes far beyond subprime.

The auto industry is crucial to the US economy and jobs. Auto sales account for 21% of total retail sales so far this year. They’re up 4.5% year-over-year. New Vehicle sales in 2015 hit an all-time record, even as the rest of brick-and-mortar retail was weak.

The industry – including component makers and other suppliers – account for a good part of US manufacturing. Transporting over 17 million new vehicles a year from assembly plants or ports of entry to cities around the country is big business for struggling railroads. Transporting them from rail yards to dealer lots is big business for specialized trucking companies. They also haul millions of used vehicles every year to and from auctions where rental-car and leasing companies dispose of their vehicles. Many of the jobs across the industry pay well.

Auto sales involve services, such as finance and insurance. They’re a significant source of revenues for local and state governments. Wall Street salivates because it gets to extract fees during many stages of the process – particularly in financing these sales and then securitizing the loans.

And all of it has been booming for years!

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The post What Will Sink the US Auto Boom? appeared first on Silver For The People.

Thanks to BrotherJohnF

Why China Is Being Flooded With Oil: Billions In Underwater OPEC Loans Repayable In Crude

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

Total purchases from overseas into the world’s second-largest oil user climbed to a near record 7.96 million barrels a day in April, while shipments to Qingdao surged to unprecedented levels in April.

zerohedge.com / by Tyler Durden on 05/24/2016 18:01

When the price of oil was above $100, many of the less developed oil exporting OPEC members decided to capitalize on the high price and cash out by taking loans using the precious liquid as collateral very much the same way corporate CEOs use their inflated stock (thanks to buybacks they authorize) to issue loans against said stock. And why not: even if the price of oil were to drop, they could just pump more until the principal is repaid. However, few oil exporters anticipated such an acute oil plunge in such as short time span, which resulted in the value of the collateral tumbling by 70%, and now find themselves have to repay the original loan by remitting as much as three times more oil!

According to Reuters, this is precisely what happened in the years preceding the great 2014-2015 oil bust: “poorer oil-producing countries which took out loans to be repaid in oil when the price was higher are having to send three times as much to respect repayment schedules now prices have fallen.”

As a result, the finances of countries such as Angola, Venezuela, Nigeria and Iraq have been crippled, in the process creating further division within the Organization of the Petroleum Exporting Countries.

But while these already poor and corrupt OPEC nations were the biggest losers, one country was a huge winner, the country that provided the billions in virtually risk-free, oil-collateralized loans to any country that requested them. China. The same China which has once again proven smart enough to not demand repayment in fiat but in physical commodities, be they oil, copper or gold.

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The post Why China Is Being Flooded With Oil: Billions In Underwater OPEC Loans Repayable In Crude appeared first on Silver For The People.

Thanks to BrotherJohnF

Why Are Americans Getting Married An Average Of 7 Years Later Than They Did In The 1950s?

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

theeconomiccollapseblog.com / By Michael Snyder on May 24th, 2016

Americans are getting married later and later in life these days.  So precisely why is this happening?  As you will see below, the average age when men and women first get married in the United States is getting perilously close to 30, but in the middle of the last century is was close to 20.  There has been a dramatic cultural shift, and this has resulted in a whole host of unintended consequences.  Because even though people are getting married later, they are still engaging in behaviors that in previous generations were considered reserved for those that had made a permanent commitment.  The family has always been one of the foundational institutions in society, but now it is breaking down at a very alarming pace.  Our young people have been trained to think that getting married, having children and raising a family are not important priorities, and this is showing up in a myriad of various ways.

In America today, the average woman is getting married 7.0 years later than she did in 1956, and the average man is getting married 6.7 years later than he did back then.  The following comes from CNBC

The typical U.S. woman now marries at 27.1 years old, the typical man at 29.2, according to census data. That’s up from record lows of 20.1 for women and 22.5 for men in 1956.

“They’re concentrating more on school, careers and work and less focused on forming new families, spouses or partners and children,” said Richard Fry, lead author of the report and a senior economist at the Pew Research Center. Fry said of the millennials.

At one time, a woman was considered to be an “Old Maid” if she had not married by the age of 25, but in this day and age that is about the time that many women are just getting started seriously looking for a mate.

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The post Why Are Americans Getting Married An Average Of 7 Years Later Than They Did In The 1950s? appeared first on Silver For The People.

Thanks to BrotherJohnF

ZeroHedge: All You Need To Know About The China Boom-Bust Cycle In One Chart

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

If anyone is still confused about the not so subtle dynamics between markets and monetary policy in China, or the country’s bipolar, and ever more frequent boom and bust cycles, you won’t be after seeing this chart from Socgen.

If still unclear, here is SocGen’s explanation:

Our economists expect China’s structural deceleration to continue over the coming years and it should thus remain a major source of uncertainty for commodity prices and equity markets alike. The recent recovery in Q1 16 was based on a sharp rebound in the property sector and significant credit injections. 

 

This stimulus can only be temporary, as it increases debt in the system, keeps zombie companies alive, and defers reforms, at the cost of higher risk for financial stability in the future. Policymakers are aware of the risks coming from an overheating housing market and excessive debt build-up. As long as the recovery in the property keeps going, the economy could perform more or less in line with market expectations.

 

But, as Chinese authorities will eventually reduce credit easing, we expect the economy to return on its deceleration path in the coming quarters. The economy is thus likely to continue suffering from a series of mini boom-and-bust-cycles that will create repeated periods of volatility.

We just had a 3 months period of stability. Following the latest Yuan fixing released moments ago, which at 6.5693 was the lowest since March 2011, it sounds like we are about to have some volatility.

(more…)

via zerohedge

Why Are Americans Getting Married An Average Of 7 Years Later Than They Did In The 1950s?

via the economic collapse blog Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

Wedding - Public DomainAmericans are getting married later and later in life these days.  So precisely why is this happening?  As you will see below, the average age when men and women first get married in the United States is getting perilously close to 30, but in the middle of the last century is was close to 20.  There has been a dramatic cultural shift, and this has resulted in a whole host of unintended consequences.  Because even though people are getting married later, they are still engaging in behaviors that in previous generations were considered reserved for those that had made a permanent commitment.  The family has always been one of the foundational institutions in society, but now it is breaking down at a very alarming pace.  Our young people have been trained to think that getting married, having children and raising a family are not important priorities, and this is showing up in a myriad of various ways.

In America today, the average woman is getting married 7.0 years later than she did in 1956, and the average man is getting married 6.7 years later than he did back then.  The following comes from CNBC

The typical U.S. woman now marries at 27.1 years old, the typical man at 29.2, according to census data. That’s up from record lows of 20.1 for women and 22.5 for men in 1956.

“They’re concentrating more on school, careers and work and less focused on forming new families, spouses or partners and children,” said Richard Fry, lead author of the report and a senior economist at the Pew Research Center. Fry said of the millennials.

At one time, a woman was considered to be an “Old Maid” if she had not married by the age of 25, but in this day and age that is about the time that many women are just getting started seriously looking for a mate.

One of the big reasons why men and women are both delaying marriage so much these days is because our young people are constantly being inundated with messages that tell them that it is much more fun to be single.  If you aren’t doing so already, start paying attention to how marriage and parenthood are being portrayed to our young adults on television and in the movies.  In most cases, getting married at a young age is portrayed as being a “mistake”, and having children is often depicted as a good way to ruin your future.

And of course a lifestyle that involves sexual promiscuity is almost always portrayed as more desirable than a lifetime commitment to a single person.  Just watch any television show or movie that is targeted to young males in particular.  Being able to “score” often and with as many women as possible is what they are told they should do, and very rarely are they encouraged to value marriage and fatherhood.

This dramatic cultural shift that we have seen over the past several decades is having some very serious unintended consequences.

For one thing, an increasing number of our young people are choosing to never leave the nest.  In fact, the percentage of our young adults that are living at home now exceeds the percentage of our young adults that are married or are living with a partner

Nearly a third of millennials live with their parents, slightly more than the share of their age group who live with a spouse or partner. For this age group, the researchers say, this is the first time that living at home has overtaken living with a spouse since the U.S. Census began keeping track in 1880.

As recently as 2000, nearly 43 percent of young adults, ages 18 to 34, were married or living with a partner. By 2014, that proportion was just 31.6 percent.

In 2000, only 23 percent of young adults were living with parents. In 2014, the figure reached 32.1 percent.

Another unintended consequence has been a huge rise in the number of unmarried women giving birth to children.

When the average age of first marriage was at a record low in 1956, about 5 percent of all babies in America were born to unmarried parents.  Today, more than 40 percent of all babies in America are born to unmarried parents.

In addition, just because young adults are not getting married does not mean that they are not looking for outlets for their sexual desires.

Of course lots and lots of people are sleeping around, but others are seeking alternative ways to fill what is missing in their lives.  Right now, there are more than four million adult websites on the Internet, and they get more traffic than Netflix, Amazon and Twitter combined.  This plague has become so widespread that it has been estimated that even 68 percent of all Christian men watch pornography on a regular basis.

Clearly we have a major problem.

And I haven’t even mentioned the millions of abortions and millions of STD cases that have resulted from the “sexual revolution” that we have witnessed.

As the institution of the family has broken down, we have become lonelier, more isolated, less healthy and more prone to addictive behaviors as a society.

Could it be possible that previous generations of Americans actually knew what they were doing?

Could it be possible that it would be a good thing to teach our young people to value marriage and family?

Could it be possible that we are actually designed to get married and have children at a relatively younger age?

What we are doing right now is definitely not working.  We have one of the highest divorce rates on the entire planet, the CDC says that there are about 20 million new STD cases each calendar year, we have tens of millions of men that are addicted to pornography, and somewhere around a third of all children in the United States are currently being raised in a home without a father.

So is there a solution to this mess?

If so, what would that look like?

Please feel free to tell us what you think by posting a comment below…

*About the author: Michael Snyder is the founder and publisher of The Economic Collapse Blog. Michael’s controversial new book about Bible prophecy entitled “The Rapture Verdict” is available in paperback and for the Kindle on Amazon.com.*

ZeroHedge: What It Takes To Be President Of The American Police State

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

Submitted by John Whitehead via The Rutherford Institute,

“The qualifications for president seem to be that one is willing to commit mass murder one minute and hand presidential medals of freedom to other war criminals in the next. One need only apply if one has very loose, flexible, or non-existent morality.”—Author and activist Cindy Sheehan

Long gone are the days when the path to the White House was open to anyone who met the Constitution’s bare minimum requirements of being a natural born citizen, a resident of the United States for 14 years, and 35 years of age or older.

Today’s presidential hopefuls must jump through a series of hoops aimed at selecting the candidates best suited to serve the interests of the American police state. Candidates who are anti-war, anti-militarization, anti-Big Money, pro-Constitution, pro-individual freedom and unabashed advocates for the citizenry need not apply.

The carefully crafted spectacle of the presidential election with its nail-biting primaries, mud-slinging debates, caucuses, super-delegates, popular votes and electoral colleges has become a fool-proof exercise in how to persuade a gullible citizenry into believing that their votes matter.

Yet no matter how many Americans go to the polls on November 8, “we the people” will not be selecting the nation’s next president.

While voters might care about where a candidate stands on healthcare, Social Security, abortion and immigration—hot-button issues that are guaranteed to stir up the masses, secure campaign contributions and turn any election into a circus free-for-all—those aren’t the issues that will decide the outcome of this presidential election.

What decides elections are money and power.

We’ve been hoodwinked into believing that our votes count, that we live in a democracy, that elections make a difference, that it matters whether we vote Republican or Democrat, and that our elected officials are looking out for our best interests. Truth be told, we live in an oligarchy, and politicians represent only the profit motives of the corporate state, whose leaders know all too well that there is no discernible difference between red and blue politics, because there is only one color that matters in politics—green.

(more…)

via zerohedge

ZeroHedge: Eurogroup Agrees To Disburse €7.5BN To Greece Which Will Be Used To Repay Creditors

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

Once upon a time, markets trembled when Greek bailout implementation headlines were announced, which is what just happened if slightly ahead of our forecast schedule…

… and this time nobody cares. Well maybe the Greeks do, but by now even they realize that most of the “money” they receive will be used to repay creditors and especially the ECB, and they will see virtually none of it.

So, for them, or anyone else who cares, here are the key headlines and details as they come in. Few surprises from what had been leaked previously.

EUROGROUP MEETING ENDS, DEAL ALLOWS LOAN DISBURSEMENT
EU DIJSSELBLOEM: REACHED FULL STAFF LEVEL AGREEMENT ON GREECE

* * *

DIJSSELBLOEM: ESM TO APPROVE E10.3 BLN IN SEVERAL DISBURSEMENT
DIJSSELBLOEM: INSTITUTIONS TO HAVE FINAL CHECK ON LEGISLATION
DIJSSELBLOEM: NEED TO MAKE SURE GREECE STAYS ON FISCAL PATH
DIJSSELBLOEM: AGREED ON METHODOLOGY OF GREECE DEBT SUSTAINBLTY
DIJSSELBLOEM: ASKED ESM TO LOOK AT MEASURES IN DEBT REPAYMENTS
DIJSSELBLOEM: DEBT MID-LONG MEASURES INTO EFFECT JULY 2018
DIJSSELBLOEM: SMP, ANFA PROFITS ALSO PART OF DEBT DEAL
DIJSSELBLOEM: UNUSED ESM FUNDING COULD BE USED TO SWAP GR DEBT
DIJSSELBLOEM: AGREED ON MECHANISM FOR DEBT MEASURES IN L-TERM
DIJSSELBLOEM: IMPORTANT THAT IMF ON BOARD WITH GREECE
DIJSSELBLOEM: IMF TO RECOMMEND NEW PROGRAMME FOR GREECE BY YR END
DIJSSELBLOEM: BUT IMF WILL DECIDE ON NEW DEBT SUSTAINABILITY
DIJSSELBLOEM: DEBT RELIEF WILL BE DELIVERED AT END PROGRAM

* * *

MOSCOVICI: GREECE SHOWED POLITICAL RESPONSIBILITY
MOSCOVICI: ESSENTIAL THAT IMF REMAINS IN GREECE PROGRAM
MOSCOVICI: GREECE WILL BE ABLE TO REPAY STATE ARREARS NOW

* * *

REGLING: LOAN TRANCHES LINKED WITH GR PROGRAM IMPLEMENTATION
REGLING: FIRST GREECE LOAN TRANCHE OF E7.5 BLN IN JUNE
REGLING: SECOND LOAN TRANCHE TO BE GIVEN IN AUTUMN
REGLING: GREECE NOW TO IMPLEMENT OUTSTANDING PRIOR ACTIONS

(more…)

via zerohedge

ZeroHedge: Political Polarity Shift – “Trigger Happy Hillary” Making Dems The War Party

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

Authored by Justin Raimondo via AntiWar.com (h/t Contra Corner blog),

Americans are rejecting imperialism – on both sides of the political spectrum

As Bob Dylan put it, “the times they are a changing!” – and that is certainly the case when it comes to the debate over US foreign policy this election season. A recent article in the Boston Globe, summarizing the observations of a group of Brown University students who tracked the foreign policy discourse of the candidates, underscored what is happening on both sides of the partisan divide:

“As we watched, Republican voters rejected every candidate who favored their party’s traditional hardline foreign policies, including Lindsey Graham, Chris Christie, Jeb Bush, and Marco Rubio…. Trump, the presumptive nominee, has broken with foreign policy dogma on a host of issues. He asserts that decades of foreign wars have not been good for the United States – hardly a traditional Republican view.”

The Democratic party, too, is experiencing what these youthful observers describe as a “foreign policy identity crisis”:

“Clinton, the likely nominee, is an activist by nature and supports escalation from Afghanistan to Syria to Ukraine. Her opponent, Senator Bernie Sanders, has condemned her ‘very aggressive policy of intervention’ and said he does not believe the United States should be ‘the world’s policeman.’ Yet though Sanders effectively pushed Clinton further left in terms of domestic policy, he was unsuccessful in changing her deeply held foreign policy views.”

The two parties are undergoing a process of “role reversal,” as these students put it, right before our eyes. Trump is now attacking “trigger happy Hillary,” while Mrs. Clinton is parrying these thrusts with accusations that “dangerous Donald” lacks the steadiness of an Establishment politician who sticks with the familiar script that casts America in the role of “the indispensable nation” destined to police the world.

With the fall of the Soviet Union and the evaporation of the international communist movement as a credible threat to US national security,  American conservatives have been steadily moving – in fits and starts – back to their historic position of nonintervention in the affairs of other nations. (more…)

via zerohedge