JIM ROGERS -- BRICS Making Plans To Compete AGAINST the U.S. DOLLAR

"A new Gold Standard is coming, led by the East, driven through trade. The BRICS nations have decided to fund their development bank with $100 billion. The reserves are aimed at financing joint development ventures, and are set to rival the dominance of the World Bank and the IMF.

"At the final stage of realization -- the initiative to create a BRICS forex reserve pool -- the size of its capital has been agreed at $100 billion," Russian President Vladimir Putin said while opening the G20 Summit in St. Petersburg.

Russia, Brazil and India will contribute $18 billion to the BRICS currency reserve pool, while China $41 billion and South Africa $5 billion, according to a press release issued by the BRICS on Thursday. Earlier this week Russia's Finance Minister Sergei Storchak said that there were still a lot of "difficult details" to sort out.

"These are systematic themes, complicated [and] negotiationsare difficult. We must assume the bank will not start functioning as fast as one could imagine. It will take months, maybe a year,"

The creation of the reserves pool may help the BRICS nations in their drive to reform votes and quotas in the International Monetary Fund (IMF).

The Almighty Dollar Is In Peril As The Global 'De-Dollarization' Trend Accelerates

Prominent international voices are starting to question why the U.S. dollar should be so overwhelmingly dominant. As the Obama administration continues to alienate almost everyone else around the entire planet, an increasing number of prominent international voices are starting to question why the U.S. dollar should be so overwhelmingly dominant in global trade. In previous articles, I have discussed Russia's "de-dollarization strategy" and the fact that Gazprom is now asking their large customers to start paying in currencies other than the dollar. But this is not just a story about Russia any longer. China and South Korea have just signed a major agreement to facilitate trade with one another using their own national currencies, and even prominent French officials use the dollar less and the euro more. John Williams of shadowstats.com recently said that things have never "been more negative" for the U.S. dollar, and he was right on the mark. The power of the almighty dollar has allowed all of us living in the United the U.S. economy. In future years the value of the dollar will go down substantially, all of the imported goods filling our stores will become much more expensive, and it is going to cost the federal government a lot more to borrow money. Unfortunately, with the stock market hitting all-time record highs and with the mainstream media endlessly touting an "economic recovery", most Americans are not paying any attention to these things.

French oil giant Total is one of the largest energy companies in the entire world. On Saturday, Total's CEO made an absolutely stunning statement. According to Reuters, he told reporters that there "is no reason to pay for oil in dollars"...

The BRICs Are Morphing Into An Anti-Dollar Alliance

increasingly more countries are setting the stage for the final currency war, we go again to Russia where VOR's Valentin Mândr??escu explains that slowly but surely the BRICS -- that proud Goldman acronym which was conceived to perpetuate the great American way of life by releasing trillions in US-denominated debt in heretofore untapped markets -- are morphing into an anti-dollar alliance.

BRICS is morphing into an anti-dollar alliance, From VOR

Before the crucial visit to Beijing next week, the governor of the Russian Central Bank, Elvira Nabiullina met Vladimir Putin to report on the progress of the upcoming ruble-yuan swap deal with the People's Bank of China and Kremlin used the meeting to let the world know about the technical details of its international anti-dollar alliance."

at http://jimrogers1.blogspot.com.tr/2014/07/jim-rogers-brics-making-plans-to.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+blogspot/WOHK+(Jim+Rogers+Blog)

Billionaire Sprott - The Bank Of England Gold Vaults Are Empty

"As the gold and silver smash continues for a second day, billionaire Eric Sprott warned King World News that the Bank of England gold vaults are empty and there will be a price to pay for what Western central planners have done.  The Canadian billionaire also warned about the banking system.  Below is what Sprott, Chairman of Sprott Asset Management, had to say in Part I of a remarkable series of interviews that will be released today.

Sprott:  “We have the Chinese coming in and buying an extra 1,500 tons (of gold).  We will have a GLD metric that could be as much as 1,000 tons just this year, year over year.  The Indians haven’t changed the laws yet but I think that will be forthcoming, and they can get back into normal buying mode....

“We know that production is likely to fall off because of the lack of financing, the difficulty of getting projects approved, the unwillingness to go into projects, and the massive decline in exploration.

So if you look at it from a longer-term perspective, you can see that all the catalysts are in place.  In terms of the immediacy of something, it’s going to be a failure to deliver.  I don’t know where it’s going to occur, but it will be a failure to deliver somewhere.”

Eric King:  “It almost sounds like you feel that failure to deliver is imminent.”

Sprott:  “It’s hard for me not to think it’s imminent.  When I got into the gold market back in 2000 I read Frank Veneroso’s gold book.  He suggested that the central banks, who said they had 35,000 tons of gold, probably only had 18,000 tons.

And I see data every year that suggests demand might exceed supply by 2,000 tons.  So the metal can come from only one place -- (Western) central banks.  That’s why I wrote the article in 2012, ‘Do They Have Any Gold Left?’ Then you see data points out of the U.S., where the U.S. is exporting 40 tons of gold one month, and the U.K. is exporting 112 tons to Switzerland one month, and the U.K. doesn’t even produce any gold -- so where is this gold coming from?

These numbers all reek of the suppression of the gold price and tell you the game will have an end date. I think we might be very close to that end date now. I know lots of your readers and listeners will have seen a comment by some reporter from Bloomberg who suggested that the Bank of England's vaults were empty now. [LAUGHTER.]

And I suspect that is very close to the truth -- that the supply is dwindling, and someday they just give up on it. Like they should be giving up on the policy of money printing.  They accomplished nothing.  We’re so misguided on all this stuff. It’s not working.  All we’re doing is piling on the debt.  Well, there is a cost to debt and that cost gets bigger all the time.

A lot of the policy to keep the gold price suppressed is not going to work.  How could anybody honestly believe that inflation is only 2 percent?  It’s so ridiculous, and even the public is now realizing it’s ridiculous.  The central planners have played a game that hasn’t worked, and there will be a price to pay.

When you see a bank goes down, what’s the first thing you think about? ‘I want my money out of the bank.  Where am I going to put it all?  I better put it into something real.’  We keep hearing that the bad loan problems are getting worse, the trading volumes for the commercial banks are going down, the spreads are narrowing.  And I would never have my money in a bank.  They are so levered and risky.

It’s funny that it doesn’t strike people as being risky, but when you put your deposit into a bank, you’ve lent your money to the bank.  If the money is lent to someone else who is not going to repay it, you are going to be on the hook for it.  We just had the German government approve of bail-ins in that country.  So we are all set up for it. Everybody knows there is going to be a problem in the banking industry because it’s just way too levered based on any normalcy in banking.  So our day will come.”

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/7/15_Billionaire_Sprott_-_The_Bank_Of_England_Gold_Vaults_Are_Empty.html

Now Germany Will Never Get Its Gold Back From The U.S. Fed

"Today an acclaimed money manager stunned King World News when he said that Germany will never get its gold back from the U.S. Fed, and the reason will surprise KWN readers around the world.  Stephen Leeb went on to elaborate about what is happening behind the scenes that has caused this rift between the U.S. and Germany.

Leeb:  “Right now I am focused on the major economies of the world.  Russian President Vladimir Putin, Chinese President Xi, and German Chancellor Angela Merkel were all together at the World Cup in Brazil.  No matter where you look these three countries are being brought together....

“And today John Kerry turned to China to help with the Iranian negotiations.  Good luck.  China may or may not help, but they will do what is in the interest of China, Russia, and Germany.  That’s the name of the game.

None of them care what the United States wants.  Meanwhile there is still fighting going on in the Ukraine.  So the United States is slowly losing power, losing hegemony.  There was clearly a time when the United States, because of the strength of its dollar, because of the strength of its military, was clearly the dominant power in the world. That’s not true anymore.  Yet the U.S. is still acting like it’s the only game in town.

Right now Russia is challenging the United States in Iraq.  They have been sending in planes and other weapons to support the military.  Iran is also working with Russia to aid Iraq.  The question then becomes:  How long can the United States keep its reserve currency status as it continues to lose power?

As the U.S. continues to lose its influence and reserve currency status, this will send even more money into gold and silver.  Well, China’s photovoltaics program will require 25 percent to 30 percent of the world’s silver by the end of the decade.  Guess what:  We don’t have it.  The world doesn’t have that much additional silver.

Something will have to give, and it will be the price of silver.  That’s just one of the many reasons why silver will be trading well over $100.  That’s why these dips like we have seen over the past couple of days are not going to be as severe as before.  The other problem the manipulators have is there is now a bid in the gold market, and I mean a real bid.

China just reported that they now have $3.99 trillion in reserves.  This is why it’s funny when you keep reading articles from Bloomberg about how much debt the Chinese have and how much money they are spending.  Well, they have $4 trillion in foreign exchange reserves to play with.  This is why the Chinese will continue to accumulate record amounts of physical gold.

The Chinese don’t want to see their reserves lose value, and that’s why they are buying incredibly large quantities of physical gold.  That’s why I’m saying there is a solid bid under this gold market.  I don’t know if the bid is just below $1,300, $1,280 or $1,250, but there is something different going on with the bidding.

So the next step for gold is to break out of its base and head to new all-time highs.  Then it’s really going to be off to the races.  Silver will take care of itself.  You can bet on it as a precious or industrial metal.  So investors are going to make a lot of money in silver.

But gold, that’s the one that you really have to watch because that is the barometer that tells you how much the U.S. is losing its power in the world.  And if I’m right about this bid in the gold market, this decline will be short-lived and it will head to new highs very quickly.

And as far as China goes, we have no idea how much gold they have accumulated.  Nobody knows how much gold they are buying -- not the World Gold Council or anyone else.  The gold is now flowing into China from all directions and they don’t want the West to know how much they are accumulating.

As soon as China, Russia, and Germany have enough gold, they are going to form a new currency bloc.  It will be comprised of yuan, marks, rubles, and gold.  This is why the Fed won’t give Germany any of its gold back.  The U.S. has picked up on this and so the Fed is denying Germany its gold.

The Fed promised to send Germany a mere 300 tons of its 1,436 tons of gold the Fed is supposed to have stored.  Well, only 5 tons have made their way back to Germany because the Fed knows what Germany is up to with the Chinese and the Russians, and so there is no way in hell the Fed is going to give Germany back its gold at this point.  Germany, you may have won the World Cup but you will have to go into the open market if you want your gold back.”

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/7/16_Now_Germany_Will_Never_Get_Its_Gold_Back_From_The_U.S._Fed.html

A Full-Blown Crisis Is Coming & There Will Be Hell To Pay

"Today one of the wealthiest people in the financial world warned King World News that a full-blown crisis is coming and there will be hell to pay.  Rick Rule, who is business partners with Eric Sprott, also discussed the trouble in the banking system in Europe and the German move to approve bail-ins.

Eric King:  “Rick, we are seeing the reemergence of the banking crisis.  Germany has just moved to legalize bail-ins.  Obviously this is going to get out of hand once again.  How bad is this going to get?”

Rule:  “We have warned about this for some time on King World News.  I think what we said last year was that none of the principle causes of the global financial crisis in 2008 were ever addressed....

“The only thing that happened was the central banks around the world added liquidity to the system.  The central banks would like investors and voters to believe that liquidity, that is short term cash, is a substitute for solvency.  It’s not.

If a person has $10,000 but they owe $1,000,000 to the bank, they might not have a problem this month, but they certainly will as time goes on, and time has gone on.  So, as an example, we see a problem with the bank in Portugal that had some mispriced assets.  Isn’t that a surprise?  (Laughter).

The truth, Eric, is that the big thinkers of the world have pretty much guaranteed there are going to be mispriced assets on banks’ balance sheets as a consequence of Basel III.  Your readers will remember that Basel III was that highly intelligent piece, I’m being facetious, piece of legislation that allows banks to carry loans to governments on their books as unimpaired by market if they ‘Plan to hold them to maturity.’

So if a Portuguese bank had bought bonds which were selling at 70 percent of par, the bank would be allowed to hold them on their books at 100 percent of par.  They are allowed to mark those assets to ‘myth,’ as opposed to marking them to market.  This guarantees that all of the euro center banks have followed a business plan where they borrow short term from the euro window, and they lend longer term to semi-insolvent sovereign borrowers on the European periphery.  This is a slow-motion road to bankruptcy.

I see the German move to approve bail-ins as a situation where the banks are beginning to give themselves the tools to dig themselves out of the box that they’ve gotten themselves in.  Europe needs to look to Japan, where Japan had a lost decade that turned into a lost 16 years.  The problem for Europe is there are increasing amounts of dislocation in the European community.  

As an example, German citizens rightly feel like they are carrying the rest of Europe.  So there are divisions in Europe over this strategy that were not apparent in Japan because Japan is a very homogenous society.  I can’t say a full-blown crisis is going to rear its head tomorrow or next week, but a crisis is coming and there will be hell to pay at some point.”

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/7/16_A_Full-Blown_Crisis_Is_Coming_%26_There_Will_Be_Hell_To_Pay.html

Portugal Contagion Spreads: Espirito Santo To Default On Portugal Telecom Loan, Business Lending Drops Most On Record

"Despite reassurances from US asset-gatherers and TV 'personalities' that Portugal must be fixed (because US equities are up), it is anything but. Today's triple whammy from the 'recovered' Portugal starts withBanco Espirito Santo bonds and stocks hitting new record lows (down over 10% more on the day). The contagion has rippled across to Rioforte, which controls Grupo Espirito Santo's non-financial arm - and islikely to default on a EUR 847 million payment to Portugal Telecom. And just to add further salt to that wound, Portuguese business lending in May collapsed at a record pace (down 8.23%). But apart from that, yeash Portugal is all fixed and their sovereign bonds are worth every penny...

Step 1 - Banco Espirito Santo bonds and stocks continue to collapse..."

at http://www.zerohedge.com/news/2014-07-15/portugal-contagion-spreads-espirito-santo-default-portugal-telecom-loan-business-len

Gold Plunges Back Below $1300 As "Someone" Dumps $2.3 Billion In Futures

"With The Fed proclaiming bubbles in some of the most-loved segments of the stock market and explaining that the economy is doing "ok" but they must remain dovish for longer for feasr of "false dawns"... what better time than now to dump $2.3 Billion notional in futures... of course the dump in gold's anti-status quo price coincided with an odd v-shaped recovery in stocks... Gold remains above its pre-June FOMC levels still.

The break was precipitated by the sale of over 17,000 contracts (or over $2.3 Billion notional)..."

at http://www.zerohedge.com/news/2014-07-15/gold-plunges-back-below-1300-someone-dumps-15-billion-futures

Why The Status-Quo Is Unsustainable: Interest and Debt (What Yellen Won't Tell You)

"Even if the economy were growing at a faster pace, it wouldn't come close to offsetting the interest payments on our ever-expanding debt.

If you want to know why the Status Quo is unsustainable, just look at interest and debt. These are not difficult to understand: debt is a loan that must be paid back or discharged/written off and the loss absorbed by the lender. Interest is paid on the debt to compensate the owner of the money for the risk of loaning it to a borrower.

It's easy to see what's happening with debt and the real economy (as measured by GDP, gross domestic product): debt is skyrocketing while real growth is stagnant. Put another way--we have to create a ton of debt to get a pound of growth.

There is no other way to interpret this chart.

at http://www.zerohedge.com/news/2014-07-15/why-status-quo-unsustainable-interest-and-debt-what-yellen-wont-tell-you

China Warns US To Stay Out Of South China Sea Dispute

"A week ago, China made it very clear to the US that while it is happy to preserve cordial relations and smile on photo ops, it had no problems with taking the US to task, and even the battlefield, financial or conventional, should the US - having lost most of its credibility in recent years - dare to interfere. It said it so clearly only an idiot could have misread it: "A conflict between China and United States will definitely be a disaster for the two countries and the world,” Xi said. “As long as we uphold mutual respect, maintain strategic patience and remain unperturbed by individual incidents and comments, we’ll be able to keep relations on a firm footing despite ups and downs that may come our way.”

at http://www.zerohedge.com/news/2014-07-15/china-warns-us-stay-out-south-china-sea-dispute

Jim Rogers: Only a Russian/Chinese/Brazil joint-currency can battle dollar dominance - See more at: http://ausbullion.blogspot.com.tr/2014/07/jim-rogers-only-russianchinesebrazil.html#sthash.ZRIxijqt.dpuf

at http://ausbullion.blogspot.com.tr/2014/07/jim-rogers-only-russianchinesebrazil.html

ames Turk - Bank Shorts Orchestrating Gold & Silver Smash

"With continued turmoil in major markets, today James Turk told King World News that bullion bank shorts orchestrated today’s smash in the gold and silver markets.  Turk also gave some fascinating statistics regarding today’s takedown in the metals and discussed what investors should expect next..."

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/7/14_James_Turk_-_Bank_Shorts_Orchestrating_Gold_%26_Silver_Smash.html

Steve Forbes Promotes a Gold Standard

"Steve Forbes, speaking recently in Las Vegas, continued to advocate a gold standard of sorts–  i.e. pegging the US dollar to gold at (say) $1200 per ounce.  If gold rises to $1300, the Fed decreases the supply of dollars.  It it falls to $1100, the Fed inflates..."

at http://bastiat.mises.org/2014/07/steve-forbes-promotes-a-gold-standard/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MisesBlog+%28Mises+Economics+Blog%29

The Head Of ‘The Central Bank Of The World’ Warns That Another Great Financial Crisis May Be Coming

"Most people have never heard of Jaime Caruana even though he is the head of an immensely powerful organization.  He has been serving as the General Manager of the Bank for International Settlements since 2009, and he will continue in that role until 2017.  The Bank for International Settlements is a rather boring name, and very few people realize that it is at the very core of our centrally-planned global financial system.  So when Jaime Caruana speaks, people should listen.  And the fact that he recently warned that the global financial system is currently "more fragile" in many ways than it was just prior to the collapse of Lehman Brothers should set off all sorts of alarm bells.  Speaking of the financial markets, Caruana ominously declared that "it is hard to avoid the sense of a puzzling disconnect between the markets’ buoyancy and underlying economic developments globally" and he noted that "markets can stay irrational longer than you can stay solvent".  In other words, he is saying what I have been saying for so long.  The behavior of the financial markets has become completely divorced from economic reality, and at some point there is going to be a massive correction.

So why would the head of 'the central bank of the world' choose this moment to issue such a chilling warning?

Does he know something that the rest of us do not?

According to a recent article in the Telegraph by Ambrose Evans-Pritchard, Caruana is extremely concerned about rising debt levels and the current level of euphoria in the financial markets...

The world economy is just as vulnerable to a financial crisis as it was in 2007, with the added danger that debt ratios are now far higher and emerging markets have been drawn into the fire as well, the Bank for International Settlements has warned.

Jaime Caruana, head of the Swiss-based financial watchdog, said investors were ignoring the risk of monetary tightening in their voracious hunt for yield.

“Markets seem to be considering only a very narrow spectrum of potential outcomes. They have become convinced that monetary conditions will remain easy for a very long time, and may be taking more assurance than central banks wish to give,” he toldThe Telegraph.

Mr Caruana said the international system is in many ways more fragile than it was in the build-up to the Lehman crisis. Debt ratios in the developed economies have risen by 20 percentage points to 275pc of GDP since then.

And you know what?

Caruana is certainly correct to be warning us about these things.

As I have written about previously, the total amount of government debt in the world has grown by about 40 percent since the last recession, and the "too big to fail banks" have collectively gotten 37 percent larger since that time.

The U.S. national debt has grown from about 10 trillion dollars to more than 17.5 trillion dollars, and even the Bank for International Settlements admits that the global derivatives bubble has grown to at least 710 trillion dollars.

The massive financial imbalances that we were facing during the last crisis have not been fixed.  Instead, they have gotten much, much worse..."

at   http://theeconomiccollapseblog.com/archives/the-head-of-the-central-bank-of-the-world-warns-that-another-great-financial-crisis-may-be-coming

Marc Faber : Market will Crash soon

""The problem with crashes, you never know beforehand precisely what is the catalyst," the publisher of the Gloom, Boom & Doom report told CNBC's "Closing Bell." "I think it's a colossal bubble in all asset prices, and eventually it will burst, and maybe it has begun to burst already," Faber said Tuesday."I think that the global economy does not support the current valuations," he said Wednesday. Corporations "have had record profits, largely because they are buying back their own shares and so the number of shares is diminishing where revenue growth is basically flat." "Since 2012, I said it would be healthy for the markets to have a meaningful correction, but it could be that we are in a year like '87 when we go straight up and then we don't have a correction but a more significant crash," he said."

at http://www.marcfabernews.com/2014/07/marc-faber-market-will-crash-soon.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MarcFaberBlog+%28MARC+FABER+BLOG%29#.U8Qdb_na6m4

Boom Bubbles & Busts are normal part of The Markets

"What we need to understand is, one, that there are market failures; and two, that there are things like asset bubbles and irrational exuberance. There are periods of booms, bubbles, and manias. These things, if left to themselves, can lead to crashes, to busts, to panics..."

at http://www.roubiniblog.com/2014/07/boom-bubbles-busts-are-normal-part-of.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+NourielRoubiniBlog+%28Nouriel+Roubini+Blog%29

Embry - Gold & Silver Smash & The Derivatives Time Bomb

"Today a man who has been involved in the financial markets for 50 years discussed the gold and silver smash and why the orchestrated smash is essential to avoid igniting a derivatives time bomb.  Below is what John Embry had to say in this timely interview.

Embry:  “On a day like today I’m focused on the takedown of gold and silver, which got under way during the access market in Asia and picked up speed as we passed into the Comex today.  Gold is getting pounded and the idea that this is profit-taking or long liquidation is preposterous....

“It’s the same old game, and I knew it was coming when I saw that the CME had reduced margins on copper, gold, and silver.  It just gave the big shorts, the bullion banks, more ammunition to throw at the market because they are in trouble.

The bullion banks are short enormous quantities and the technical action in gold is improving by the day.  So gold was starting to look like it was going to run away, particularly the shares.  The shares have been leading the way for gold and silver.  But these guys are not taking this sitting down.  This is the endgame and so it’s 'anything goes.'

But what really bothered me this weekend was Doug Casey saying allegations that gold and silver manipulation are occurring are ‘ridiculous,’ and ‘anybody who believes that doesn’t understand markets.’  I take that as a personal affront.  I’ve been around markets on a day-to-day basis longer than he has, and I can guarantee you I can identify a market that is being manipulated.  And both the gold and silver markets are classic examples of manipulated markets.

This manipulation in gold and silver has been going on for 50 years.  Back in the 1960s we had the London Gold Pool at work, but at least then it was overt.  They were open about the manipulation.  We knew what they were doing -- they were artificially keeping gold at the official rate of $35 an ounce.

Well, we see how that ended.  By suppressing it for long enough, the price exploded in the 1970s.  Now the manipulation is covert.  Nobody will admit anything.  I would strongly advise anybody who doesn’t believe that to read Dimitri Speck’s book, 'The Gold Cartel.'  Dimitri did exhaustive work and actually identified a new round of manipulation that began in 1993.  He identified recurrent trading patterns that began at that time.  So for Casey to come out and say something as ludicrous as what he did is an affront.  It really is appalling.

I am also focused on the bank in Portugal that is in trouble.  Now supposedly everything is fine in Europe and there is nothing to worry about.  But it’s like the boy with his finger in the dike.  Eventually you run out of fingers.  So I think this bank in Portugal is just another black swan and there will be more to come.”

Embry added: “I think it’s important that people ignore these gold predictions from banks like Goldman Sachs because it’s in their interest to denigrate gold.  If gold and silver prices truly reflected what is going on in monetary policy, the whole scam of zero-based interest rates and quantitative easing would be exposed, inflation would be revealed, interest rates would soar, and this would trigger the derivative bomb that is polluting the financial world.

This would be the endgame for banks like Goldman Sachs.  That’s why they are knocking gold -- it’s all about survivability.  Gold and silver remain the single best investment opportunities on the planet at this time, particularly the shares.  I am encouraged that there has been considerable action in some of the juniors that I follow.

Volumes are picking up and the prices are becoming robust.  This is important because it’s a precursor to a sharp move higher in gold and silver.  I don’t think people have any idea how far this move is going to go.  It’s going to go a lot higher than most rational minds today can figure.  This coming move has to do with paper money, which is being debased everywhere on the planet.

The central planners are trying to obscure this with all sorts of propaganda, but they have to keep gold and silver suppressed for as long as possible or the whole debt structure is going to fall in on their head.  So you want to own as much gold and silver as possible ahead of the conclusion of the endgame and that includes the shares because they are really cheap.”

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/7/14_Embry_-_Gold_%26_Silver_Smash_%26_The_Derivatives_Time_Bomb.html

The World's Next Big Global Showdown Is Already Simmering In The South China Sea [GRAPHIC]

"The South China Sea is a powder keg of territorial claims mized with oil and gas resources.

Almost every country in the area has a longstanding animus towards at least one of its neighbors. China claims 90% of the Sea, and Beijing is viewed with fear and suspicion throughout the region.

The U.S. and Chinese militaries are both entrenched there — Japan is slowly building its military capabilities in the face of a perceived Chinese threat while Vietnam and the Philippines are emerging as regional players.  

The South China sea is where the world’s next major interstate power struggle will play out. Any blowup there will almost necessarily involve China and the U.S., which have the two largest economies on earth.

But the confrontation has already begun, with China claiming everything within its now-infamous "nine-dash line," and nearly all of its neighbors involved in disputes along the line's edges. Between April and June of 2014, Japan scrambled its fighter jets 340 times "in response to feared incursions on its airspace." What's still unclear is just how bad things could plausibly get there. 

Here are the South China Sea’s major flashpoints:

at http://www.businessinsider.com/the-south-china-sea-graphic-2014-7#ixzz375otzBrV

Genius: IMF Pronounces Bulgaria's Banks "Safe" Just 2 Weeks Before Bank Run

"Earlier this summer, IMF bureaucrats went to Sofia, Bulgaria to study the country’s economic progress.

And roughly a month ago, they released an official report which stated, among other things, that Bulgarian banks are “stable and liquid.”

Talk about epic timing. Because less than two weeks later, Bulgaria’s banking system was in the throes of a full-blown crisis.

There was a run on two of the nation’s largest banks—several hundred million dollars had been withdrawn in a matter of hours.

And the Bulgarian central bank had to step in and take over both of them or risk a collapse in the entire system..."

at http://www.zerohedge.com/news/2014-07-10/genius-imf-pronounces-bulgarias-banks-safe-just-2-weeks-bank-run

They’re Lying to Us, Part 3: The Fake Stock Market

"For the average person trying to decide how to feel about the economy, the single biggest data point is the stock market. When share prices are rising, the implicit message is that finance professionals — who, after all, dedicate their lives to understanding such things and should therefore know what’s happening — have decided that life is good and getting better.

So the rest of us relax and go shopping. Known as the “wealth effect,” this tendency of asset prices to affect consumer behavior is now a key policy goal of the US and pretty much every other major government.

But what if it’s all a gigantic, multi-trillion-dollar con? That’s the conclusion a growing number of analysts are reaching as they dig into the reality behind the recent record highs in US equity prices.

The first part of the story goes like this: The US has lowered interest rates to the point where it is actually more profitable for many companies to borrow money and use the proceeds to buy back their own shares, thus eliminating the need to pay dividends on those shares. Gordon T. Long of Macro Analytics recently ran the numbers:..."

at http://dollarcollapse.com/equity-markets/theyre-lying-to-us-part-3-the-fake-stock-market/

How Much Time Before “The 7 Bubbles of America” Start to Burst?

"Snyder goes on to say in further edited excerpts:

Is there any doubt that we are living in a bubble economy?  At this moment in the United States we are simultaneously experiencing:

1. a stock market bubble,
2. a government debt bubble,
3. a corporate bond bubble,
4. a bubble in San Francisco real estate,
5. a farmland bubble,
6. a derivatives bubble and
7. a student loan debt bubble.

Similar things could be said about most of the rest of the planet as well.  In fact, the total amount of government debt around the world has risen by about 40 percent just since the last recession but it is never sustainable when asset prices and debt levels increase much faster than the overall level of economic growth..."

at http://www.munknee.com/how-much-time-before-the-7-bubbles-of-america-start-to-burst/

What Could – What Will – Pop This “Money Bubble”?

"John Rubino, author of the new book “The Money Bubble,” sums up the ongoing global financial problems this
 way: “There is too much debt…Debt works the same way for a country as it works for an individual or a family, which is to say if you borrow too much, then your life basically craters. Everything gets harder to do, and you end up doing things in order to deal with your past mistakes that you would never do normally. You start trying absolutely crazy things, and that’s where the world’s governments are right now…We are doing all these things that are essentially con games and getting away with it so far, because a printing press is a great tool for fooling people. I don’t see how we can get away with it too much longer.”

at http://www.munknee.com/will-pop-money-bubble/