Talk about !” And no, I’m not referring
to one of the ugliest corporate scandal in modern history – i.e.,
“Diesel-gate.” Or freefalling currencies of the “BRICS” economies that
Goldman Sachs expected to lead the world’s economy for the next 50 years; but
instead, are leading its collapse. Or the
pending bankruptcy of Brazilian oil giant Petrobras – under a $134 billion
mountain of Central bank and Wall Street-enabled debt. Or the “world’s
largest commodity trader” – Glencore – under its own $93 billion debt burden;
likely, holding billions worth of soon-to-be-liquidated commodity futures
contracts – with the CRB Commodity Index already hovering around
40-year lows.
Or Japan publishing its first negative CPI reading since…drum roll
please…April 2013; i.e., the very month “Abenomics” commenced, with the goal
of defeating “deflation” within two years (since extended indefinitely). Or
House Speaker John Boehner resigning from Congress
days before potentially bloody budget and “debt limit” battles,
which may not only shut down the government next month, but put it on the
verge of default. And this, mere
hours after having personally met the Pope. Who, as it turns out,
last visited the United States in…drum roll please…the Spring of 2008, just
before the worst financial crisis in generations. Holy Shemitah!
Or exploding immigration crises across Europe; whilst France is downgraded
by Moody’s – as its jobless rate hit an all-time high. And oh yeah, this
weekend’s Catalonian Parliamentary elections – which by the time you read
this, will be over; which, if the various separatist parties receive a
majority, could single-handedly plunge not only Spain, but all of Europe,
into chaos. Actually, hold up on that one; as clearly, Europe is impervious
to economic shocks due to the “success” of the ECB’s hyperinflationary
policies (just like Japan, LOL). As just yesterday, in perhaps the best
“famous last words” statement since Cunard Lines deemed the Titanic
“unsinkable,” ECB Board Member Bostjan Jazbec declared the ECB’s historic,
open-ended NIRP and QE policies are “obviously generating positive results.”
Incredibly, there are that many “mega-horrible” headlines crossing
the tape these days; many of which were eminently predictable – like
collapsing currencies, sovereign downgrades, QE failures, and social unrest;
and others – like “Diesel-gate” and the Boehner resignation – of the purely “black
swan” fashion. And yet, the “event” I’m speaking of trumps them all in
terms of symbolism – of both the “end
of belief Central banks can save us” and, given the market’s ugly response
thereof; and the imminent failure of global “manipulators’
last stand.”
And by the way, as I search for the links to the aforementioned articles,
a facetious – and appreciative – thank youto the burgeoning “truth
community” for consuming the Miles Franklin Blog so passionately. To
wit, since roughly six months ago, there are so many re-posts of my articles
and podcasts, I can no longer Google them to find the original version! Which
adds a few minutes to my daily blogging time – as I now have to search our
online archives page by page; but conversely, makes me realize how rapidly
the world is catching on – and how powerful a tool the internet has become
for spreading truth!
Anyhow, the event I’m speaking of is the predictable – but still
incredible to watch – speech Janet Yellen delivered Thursday night, exactly
one week after the FOMC “shocked the world” – but NOT
the Miles Franklin Blog – by leaving rates unchanged; yielding an
extremely uncharacteristic market reaction – of plunging stocks, high yield
bonds, commodities, and currencies. And oh yeah, surging Precious Metal
prices. Not to mention, mere hours after an ugly violation of “Cartel
Rule #1”; i.e., “thou shalt not allow PMs to surge, whilst the Dow (and in
this case, commodities and currencies as well) plunges.” Even if, of
course, said PM “surge” was stopped by the ubiquitous “Cartel Herald”
algorithm at exactly the 12:00 PM EST “cap of last resort” I’ve noted for
years; whilst the “Dow
Jones Propaganda Average’s” losses were mitigated by the prototypical
“dead ringer and “hail mary” algorithms – which, in some way, shape, or form
– have appeared nearly every day for at least five years.
Yes, on the very day miserable, recessionary durable goods orders and
Chicago Fed Manufacturing Activity reports were released – not to mention,
Caterpillar’s hideous corporate outlook – Whirlybird Janet proclaimed it
appropriate to raise rates “sometime later this year,” as it would be
a “prudent strategy to begin tightening in a timely fashion,” as she
“expects inflation will return to (the Fed’s) 2% (target) over the next few
years, as the temporary factors weighing on inflation wane.”
Ah yes – those “temporary factors” – like plunging oil prices, which she nine
months ago declared to be not only “transitory,” but a “net positive for
the economy” – whilst I, rightfully so, espoused “crashing
oil prices portend unspeakable horrors.” Not to mention, wasn’t it just last
week when she herself, at the post-FOMC statement press conference,
suggested “ZIRP
to infinity” was a real possibility? No less, due to a confluence of
deteriorating global events that the Fed is now “officially” using as
an excuse to avoid raising rates paying attention to?
I mean, I’m pretty sure I didn’t imagine her stating “recent
global economic and financial developments may restrain economic activity
somewhat, and are likely to put further downward pressure on inflation in the
near-term.” And I’m pretty sure the ugly political, economic, social, and
market events of the ensuing seven days – like collapsing stocks,
commodities, and currencies; historic corporate scandals; political upheaval
in the “world’s most stable nation”; “first world” sovereign downgrades; and
secessionist votes; among others, don’t contradict that thesis.
Which is why it’s so comical that not only did she spew such idiocies, but
that the doting MSM actually ran with it. Actually, how could we have
expected anything less – as clearly, the cornered rats the “powers that be”
have become will try anything in their power to kick the can that last,
painful mile. And so long as “manipulation organizations” like the PPT
(stocks); Central banks (bonds); the Exchange Stabilization Fund
(currencies); and the gold Cartel (precious metals) can successfully paint
markets, why would they ever stop?
To wit, said MSM claimed global stocks “surged” – and PMs “plunged” – as a
result of Yellen’s speech; when in fact, neither budged until the
infamous “2:15 AM” EST
open of the thinly-traded London paper “pre-market” session seven hours
later. To that end, Zero Hedge had a particularly humorous take on said farce
– in claiming “stock futures surge on renewed hopes of a Fed rate hike.” Yes,
only in the Twilight Zone world of 24/7 market and media manipulation can
such an insane headline – which in essence, is what the Yahoo! Finances of
the world were suggesting – can be published. To the contrary, I wrote prior
to the FOMC decision that the “only
financial event more cataclysmic than a significant Yuan devaluation”
would be Fed rate hike – which I assure you, is a spot-on depiction of what
would have occurred. And given how ugly financial markets have been following
the Fed standing pat, I can only imagine the carnage that would have
ensued if they raised rates.
Initially, the PPT had the Dow up nearly 300 points; and heading into a
crucial weekend – in which, absent a Friday market surge, countless millions
would be considering the failure of the Fed to control collapsing markets,
currencies, and economies – said “manipulation operatives'” urgency could not
have been more obvious. Which is why Friday’s’ late day swoon – turning an 80
point NASDAQ gain to a 50 point closing loss, for example – was such an
ominous signal for where things are headed. Much less, as gold recouped most
of its early losses; and silver nearly closed higher, despite base metals
suffering yet another horrific freefall, to the tune of 2%-3%. Let alone lumber
– which despite the purported “housing recovery,” closed at a new four-year
low, a whopping 40% below the level it started 2015 at.
In other words, proof positive that the Fed – and its market manipulating
minions – is not only “faltering” badly, but doing so for the entire world to
see. Which, I might add, could not have been more “symbolically” represented
by Yellen’s personal response to the end of her soon-to-be infamous
speech – when she physically “faltered” – to the point of nearly fainting.
And no, I’m not “making fun” of her – but simply pointing out the “karma” of
the world’s most destructive person having difficulty getting through the
lies and propaganda; which, with each passing day, more and more people see
right through. And no one more so, than “Gerald Celente,
Patriot” – in describing Yellen, and the entire Central banking community
– as “choking.”
Whilst this farce was ongoing, Miles Franklin’s phones continued to burn
up with people “shorting
the Federal Reserve“; i.e, buying gold, and particularly silver,
which has gotten so scarce, physical premiums for popular products like
American Silver Eagles and Canadian Silver Maples have reached their highest
levels since 2009 – rising by another 3% or so on Thursday, following a
similar 3% rise last week.
Again, only you can determine who’s lying and who – or what
(such as financial markets) – is telling the truth. Clearly, the “bad guys”
are “faltering” – or in naval terms, “listing”; whilst the relentless
“Economic Mother Nature’s” forces are strengthening. To that end, the time is
NOW to decide which side to “bet
on.” And for my real money, I’ll “bet” on the side of logic,
inertia, and history.
