Carney Gets Ready to Blow Up the World

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“This article is truly scary. Like a bullet across the bow, or the crack of a whip, it announces with certainty that the world’s top bankers intend to blanket the world with faux currency.  Carney was said by his central banking peers to be the ‘best’ central banker of his generation and his recent choice to head the Bank of England was therefore preordained. In fact, we figured that was a bit like being the ‘best’ used car salesman. But we were wrong. It’s worse, much worse. What this article in the Financial Times tells us is that Carney was brought in not just to glad-hand the media and put a sympathetic face on this bloody and miserable facility, but his real brief is to use its powers to the utmost.”

http://www.thedailybell.com/news-analysis/34704/Carney-Gets-Ready-to-Blow-Up-the-World/

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Economy Coming in High and Hard

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“We’re not certain that this bull market – if they manage to ignite it, and it looks like they will – is going to act like a normal market from a historical perspective. We figure the elements are in place for them to boost averages powerfully but this is still a kind of pre-op coronary patient … being kept alive by big infusions of adrenaline. The JOBS Act is in place and the product is in the pipeline. The small cap and IPO markets are primed. Fracking promises cheap and plentiful energy – that’s what they say, anyway. Somebody’s going to make an awful lot of money – and fast – if this market goes up as planned.  But it could go down again fast and hard. Timing will be important.”

http://www.thedailybell.com/news-analysis/34705/Economy-Coming-in-High-and-Hard/

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Chamath Palihapitiya Owns $5 Million In Bitcoins, Wants $10-$15 Million

“We already knew that Chamath Palihapitiya, ex-Facebook executive, and founder and partner of The Social+Capital Partnership, was bullish on Bitcoins. But how bullish? He actually owns the equivalent of $5 million in Bitcoins, representing one of the largest positions in the world with the Winklevoss twins.  But that’s not all, Palihapitiya wants to own even more than that — up to $10 and $15 million. Palihapitiya seems to be very aware of the risks involved with betting on a digital currency, but is willing to take those risks. He already shared his thoughts about Bitcoins and why he believes that it is a disruptive idea. But until now, we didn’t know how much Bitcoin he actually owned.”

http://techcrunch.com/2013/10/29/chamath-palihapitiya-owns-5-million-in-bitcoins-wants-to-own-10-15-million/

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The Chinese Driving Bitcoin’s Prices Into The Stratosphere

“On Oct. 20, Bitcoin Magazine’s Vitalik Buterin wrote that, with some caveats, ‘the Bitcoin markets are dominated by the Chinese.’  ‘Although it might be hard to believe, the Chinese Bitcoin exchanges are in fact responsible for much more trade volume than those in Europe and the United States. BTCChina, the most prominent Chinese Bitcoin exchange, currently shows roughly the same volume as MtGox and BitStamp, and there are plenty of other exchanges that have not received as much public attention outside of China, but whose volumes add up to even more than BTCChina altogether.'”

http://www.businessinsider.com/china-and-bitcoin-2013-10

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Heavy Smog In China Blocked Out Everything But A Giant TV Screen

“China’s smog has been so bad lately that entire cities were shut down last week because of pollution that can be seen from space.  The conditions change quickly, as can be seen by these totally different photos of the same skyscraper taken only 10 days apart in Shenyang in Liaoning province.  Monday was a particular smoggy day in Shenyang, and a Reuters photographer snapped this photo that shows everything but a massive TV screen obscured by the pollution. It highlights the fact that the toxic cloud covers just about everything.”

http://www.businessinsider.com/heavy-smog-in-china-blocked-out-everything-but-a-giant-tv-screen-photo-2013-10

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Fake Windows Painted on Qingdao Residential Complex Buildings

“October 23rd, Qingdao, the Yichang Meijing [‘Beautiful Scenery’] Residential Neighborhood located at the intersection of Yichang Road and Xinglong No. 1 Road in Qingdao city’s Shibei district is a low-cost high-rise residential complex. On the walls of three buildings near the Yichang Road side, many ‘windows’ were neatly painted, with netizens calling it a modern Ma Liang and His Magic Brush.”

http://www.chinasmack.com/2013/pictures/fake-windows-painted-on-new-chinese-qingdao-apartment-building.html

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Guy Who Predicted Lehman Brothers’ Fall Sees Big Trouble for China

“The next financial crisis will not come from the United States. All of my systemic risk indicators are clearly pointing at Asia. Asia is back where we were in 2007; they have a trillion dollars of toxic assets off the balance sheets — hidden. If you look at interbank lending, we meticulously measure every day how much banks trust each other, and that is a phenomenal leading indicator.  If you take summer 2011, the S&P dropped 20 percent in about 35-45 days. And sure enough, right before that, the interbank trust in Europe in May and June was completely breaking down because some banks in Europe, France and Germany own a lot of Greek bonds and the Greek bonds were in flames.”

http://www.dailyfinance.com/2013/09/12/china-bank-risk-lawrence-mcdonald-predicted-lehman-brothers/

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A Confiscation Tax is Headed Your Way …

“Scariest of all in the IMF’s assessment is the phrase: ‘If it is implemented before avoidance is possible.’ The IMF reflexively recognizes that the medicine it prescribes will not go down without force, and that those of us who can will rapidly seek ways to keep the government’s greedy paws away from our personal wealth. To counter that, the IMF implicitly advocates a blitzkrieg approach to governmental thievery. Imagine waking up some random Monday to find that the federal government has imposed a week-long ‘bank holiday’ that limits your access to your own money to maybe $200 a day through an ATM, and that the government is imposing a new ‘wealth tax’. Can’t happen here in America?”

http://thesovereigninvestor.com/2013/10/29/confiscation-tax-headed-way/

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Bill Bonner: The Fed Was Right…

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“Corporate earnings rose. But behind that story lurked another sordid tale. Since the March 2009 low, nearly two-thirds of the rise in operating earnings for S&P 500 companies has come from neither higher sales nor increased productivity. Instead, it has come from lower interest expenses on corporate debt. Corporate America is a debtor. It benefits from lower interest rates, while savers lose.  Second, as the so-called “risk free” return on bonds falls, future earnings streams from stocks look more attractive on a relative basis. Third, by evaporating the yields off bonds, the Fed has forced investors to ‘reach for yield’ elsewhere. An obvious place to look is stocks.”

http://www.bonnerandpartners.com/the-fed-was-right/

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Go for It!

“When you really want to do something but are apprehensive because you see so many ‘problems’ on the horizon, try something novel:  Do it anyway!  You won’t bat 100 percent, but if you continually fail to take action, you’re guaranteed to bat zero.  And even if things don’t work out as you envisioned, you’ll find that in a vast majority of cases the fallout is not nearly as bad as you imagined.  More than offsetting any pain you might endure from your missteps are the many wonderful, unexpected things that will often come into your life as a result of taking action.”

http://robertringer.com/go-for-it/

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