The results are in of the first Swiss opinion poll regarding the country’s gold referendum and it looks like those in favour of the changes are in the lead. http://DailySilverUpdate.com
This poll was taken even before the Yes campaign has had the chance to present its case to the people in any detail. The poll was distributed through the largest circulation newspaper in the country, 20 Minuten, which is a morning free sheet and was answered by a sample of over 13,000 people. The poll was organized by political scientists according to demographic, geographic and political variables and was weighted so that the sample corresponds as closely as possible to the structure of the voting population.
Although the results of this poll do not reveal conclusive evidence that the Swiss Gold Referendum will succeed, it is interesting to note that the Yes vote is very popular amongst the Swiss people. As you can see from this chart from King World News, 45% of respondents identified with the Yes vote, 39% identified with the No vote, and 16% are still undecided regarding the matter.
Apparently these results have struck fear into the country’s establishment since they are wholeheartedly opposed to the proposal. They critics of the Swiss Gold Initiative say that the referendum would stifle the future financial management options of the country’s economic policy makers.
The Iraqi Air Force release footage which it says shows air strikes against anti-government fighters in Samarra and Al-Anbar, Thursday. It says Daash and Al-Qaada targets were among those hit in the strikes.
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Another week, another Ebola infection and still no Ebola travel ban. This time, in crowded New York City. This after the government declared “U.S. Ramps up Fight on Ebola.” This time, a young American doctor who returned after treating Ebola victims in West Africa. I cannot believe we do not have a travel ban and/or mandatory quarantine and testing for everyone coming from West Africa. It seems too stupid to be stupid to “keep track” of people when we could just stop people from coming here, and we would not have to “keep track” of them.
Terror, terror everywhere in North America. The only difference is that, in Canada, they call it Islamic terror. In the U.S., they call it work place violence. You heard about the guy who took an ax to some New York City Cops. They shot the ax attacker dead, but not before he hurt some police.
Good news at the gas pump as prices are going down. How long is that going to last? Saudi Arabia has finally cut production to prop up oil prices. It’s not all good news as shale oil needs a price of $85 a barrel to turn a profit. That business could come crashing down as it is highly leveraged. Also, it’s is not all supply and demand causing the prices of crude oil to fall. It is financial war by the U.S. and the West to punish Russia over Ukraine.
Join Greg Hunter of USAWatchdog.com as he analyzes these stories and more in the Weekly News Wrap-Up: http://usawatchdog.com/wnw-163-no-ebola-travel-ban-terror-in-canada-and-nyc-financial-war/
This state of delusion would be amusing if it wasn’t so tragic.
The stock market’s wild swings of sentiment have got me thinking it’s living on reds, vitamin C and cocaine. This is a famous line from the Grateful Dead song Truckin’.
I’ve marked up a one-month chart of the S&P 500 (SPX) to illustrate what I mean:
[...] Reds are slang for barbiturates, a class of depressants/sedatives (downers). Cocaine induces euphoric highs in which the cokehead feels he possesses god-like powers–for example, he might imagine he is a Federal Reserve member, or even its chairperson.
Wall Street Wizard, Peter Grandich says the largest global gold producer and consumer, China may be hoarding gold (much more than officially reported) in anticipation of unpegging of the Yuan from the US dollar within 3-5 years. Recent dollar strength is a fata morgana, an illusion / mirage resulting from relative weakness from competing currencies. Russia’s central bank announced the largest gold purchase in 15 years; officials recognize a bargain when they see one, taking advantage of discounted prices. A 20% portfolio investment in gold and silver assets is an insurance plan that requires no monthly premium and can even provide income, the worlds most impressive financial contingency plan. The host recommends a gold ETF with a 9% dividend yield, the insurance policy that pays a handsome return to the policy holder!
The Social Security Administration has just released wage statistics for 2013, and the numbers are startling. Last year, 50 percent of all American workers made less than $28,031, and 39 percent of all American workers made less than $20,000. If you worked a full-time job at $10 an hour all year long with two weeks off, you would make $20,000. So the fact that 39 percent of all workers made less than that amount is rather telling. This is more evidence of the declining quality of the jobs in this country. In many homes in America today, both parents are working multiple jobs in a desperate attempt to make ends meet. Our paychecks are stagnant while the cost of living just continues to soar. And the jobs that are being added to the economy pay a lot less than the jobs lost in the last recession. In fact, it has been estimated that the jobs that have been created since the last recession pay an average of 23 percent less than the jobs that were lost. We are witnessing the slow-motion destruction of the middle class, and very few of our leaders seem to care.
With continued wild trading in markets around the globe, today the top trends forecaster in the world told King World News that the Swiss people are about to make history and stun the establishment. Below is what Gerald Celente, who is founder of Trends Research and the man considered to be the top trends forecaster in the world, had to say in his fascinating interview.
Celente: “We have been focused on the price of oil since the middle of June. There is now question that there is more supply now then there has been in a long time. The big issue is demand is way off. Commodities are down across the board. For example, in China a ton of rebar is cheaper than a ton of cabbage….
As the increasingly volatile stock markets bounced back higher today, JP Morgan experienced one of the largest withdrawals of gold from its inventories this year. In just one day, a stunning 321,500 oz of gold (10 metric tons) were removed from JP Morgan’s Eligible inventories.
[...] Total gold inventories at JP Morgan fell 33% from 983,693 oz yesterday, to 662,193 today. Of course, this had to come from JP Morgan’s Eligible inventories, because there are only 176,436 oz of gold in their Registered inventories.
You will notice, that the amount is exactly 321,500 oz (10 metric tons) to the TEE… and as Harvey Organ and Bill Holter have commented, it’s extremely rare for a gold bar or series of gold bars to equal exactly 10 metric tons. Instead, we should see a fraction of an amount shown as an example in the MANFRA, TORDELLA & BROOKES gold transfer of 29,752.630 oz from the Registered category to Eligible.
[Ed Note: This essay was adapted from Richard Duncan's latest book, The New Depression.]
The economy has grown dependent on government spending and debt. Therefore, given the current structure of the economy, if the government spends significantly less, the country will remain marred in an economic depression with no visible end in sight.
It appears, then, that three options are available to the government. The first is austerity. The government could sharply reduce its spending. The result would be a New Great Depression. This is the least attractive option.
In December 1999, it started crashing, a leading indicator of investor exasperation. Now it’s down 33% from its February high .
This shouldn’t surprise anyone, but by the way the stock plunged after Amazon announced its blistering third quarter loss, it seems plenty of people got caught with their pants down. The stock is now off 12% in after-hour trading as I’m writing this. But what the dickens were people expecting? That Amazon would make money, like normal mature retailers?
Heck no. That would be too uncool for Amazon. Amazon doesn’t need to make money.