The Rigged Gold Market Is A Great Source Of Profit To The Bullion Banks
The Move To Digital Money Creates New Looting Opportunities
http://investmentresearchdynamics.com/the-gold-industry-is-in-a-deep-state-of-dysfunction-delusion-and-denial/
The post Looting Has Replaced Production As The Main Source Of Wealth appeared first on PaulCraigRoberts.org.
Overnight China released its latest monthly credit data which showed that even as China is trying to choke off its shadow banking sector, something we showed most recently last month when we discussed the biggest crash in net bond issuance on record, credit to the broader economy continues to flow, although it comes as M2 crashed to a new all time low and has prompted some nervous analysts to say that even this "crazy" loan creation number may not be enough.
Authored by Tim Price via The Mises Institute,
There are a number of things you don’t want to hear a central banker say.
WTI has extended gains (on weaker dollar) from last night's 'bullish' API data in a deja-vu of last week, and DOE data (showing large draws in Crude and Gasoline) confirmed continued rebalancing. However, once again mimiccing last week's action, prices were not exuberant as another surge in production - to new cycle highs - stymied some of the excitiment.
API:
Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.
Unless you’ve been in Pyongyang, North Korea for the past several months, you know that in May Sotheby’s auctioned Jean-Michel Basquiat’s 1982 painting of a skull. When the last gavel fell, Yusaku Maezawa, a Japanese billionnaire armed with more cash than prudence, had agreed to part with a cool $110.5 million for the sixth most expensive work ever sold at auction.