Economic Crisis News 2015-09-12
Those watching the biblical or other prophecies may know that the Shemitah year ends after September 13th, this sunday. For talk on prophecies watch the recent Future Money Trends interview with Irvin Baxter.
Those expecting a September 11th crash were disappointed Friday when the Dow closed up 102 points and is up 323 points for the 4 day week. The S&P posted it’s best week since July. This coming Monday however, some expect to see frantic selling because of the Shemitah prophecy. The last two Shemitah’s saw big world market crashes.
As we said last week, be prepared for any shakeups or social unrest!
We still have plenty of dates to point to, for instance the Pope’s visit to the UN September 23rd and the fourth blood moon in a tetrad on September 28th. The United States Government’s lack of a budget passed could alone plunge world markets without a need for a dated prophecy event. The Treasury is warning Congress once again to raise the debt limit, there’s now less than 20 days in which Congress is only in session for less than half!
We can’t forget the Federal Reserve FOMC meeting coming Wednesday and Thursday as well. At this point, it is quite likely the fed will kick the can again and perhaps even reverse and initiate QE again within the next 12 months. Some are even passing around rumors that stealth QE is still going on but not officially announced.
We have a new interview with FMT Advisory analyst Nicholas Green about China rapidly dumping US Treasuries and a new phenomenon called “reverse QE”. The Fed, as zerohedge and others state, has a threshold of 5.1% unemployment before a rate hike, and this was reached with the latest jobs report. All jobs reports are basically a lie, and ZeroHedge shows us that 698 thousand native born americans actually lost their jobs in August.
Market Analyst Bo Polny in our first interview Thursday is saying we won’t have the next phase of the crash until AFTER September 23rd. Examining cycles, he said the low will be reached in 2016 though we will see a 30 to 50% correction this year. The interview already got near 5,000 views in 1 day alone.
Moving on to commodities, with silver we’re seeing the price continue in limbo, severely under the cost of production at $14.60 Friday. Premiums on eBay however are rising above 20% for retail rounds in tubes of 20. They are likely to rise further quite soon.
Retail delays could actually lead to real-life shortages at local dealers this month. Dollar Vigilante reported difficulty in finding physical silver in Mexico, the world’s largest producer. One of our staff was even told by a dealer that delays from mints could lead to physical shortages for them within the week!
Harvey Organ is calling this a Run on the COMEX because of so many gold and silver withdrawals draining their supplies. In just a few months, their inventories were down 28% to just 219 tonnes now. Silver bullion was even recently stolen in Canada to the tune of 10 Million Dollars. David Morgan is reporting that one of the biggest mints in the US is behind about 4 million ounces. David admits however that mining cost is now $15 per ounce for some miners because of the oil price drop.
Crude has backed off a bit from it’s significant gains last week; down 1 to 2 dollars for WTI and Brent. At this point, we wouldn’t call a short to medium term price due to volatility and the potential for nearly unpredictable events; often called black swans.
To tell the truth, a dip of oil to the $20 range, as even Goldman Sachs admits could happen, would be bittersweet; good for energy consumers but bad for many businesses and industries tied to the price.
Bitcoin has seen a mild recovery, up $10 over last week, but it is still down over 10% from a month ago.
If you haven’t yet, be sure to watch our documentary ‘The End of America’ which is going viral right now with 10,000 views in the last 48 hours.