VERY BEARISH SIGNS MOUNT: Gold Has Not Invalidated Its Breakdown, BIG SELL-OFF LIKELY

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A move to about $1700 or lower is likely in the cards… by Przemyslaw Radomski via Sunshine Profits Yesterday’s session was indeed volatile around the FOMC, just like we warned, and gold even moved to its previous high, likely forming a double-top pattern. Even though gold moved higher on an intraday basis, it didn’t invalidate its previous breakdown, which … Read more

Mannarino: The bond market is flashing RED!

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TradersChoice.net, Released on 7/31/20 Gregory Mannarino started his career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. After realizing that working on Wall Street was not like the movies, he moved on to get a medical degree and practiced medicine as a Physician Assistant. He also served … Read more

Insulting? California lowering bar exam standards in order to pass more minority lawyers

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by DCG A rather insulting headline: By easing its bar exam score, will California produce more Black and Latino lawyers? https://t.co/sEUJ1zOuJV — Los Angeles Times (@latimes) July 26, 2020 The article in the LA Times states the California Supreme Court agreed to lower the passing score for the exam, a victory for law school deans who have long … Read more

DAVID HENDERSON: The Virus May Strike Teachers Unions: What happens when they refuse to do their jobs and it turns out home-schoolers are better at it anyway?

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via WSJ: If you have school-age children, you may be wondering if they’ll ever get an education. On Tuesday the American Federation of Teachers, the second-largest education union, threatened “safety strikes” if reopening plans aren’t to its liking. Some state and local governments are insisting that public K-12 schooling this fall be conducted online three … Read more

“New Jersey has not spent most of its stimulus money, federal watchdog says” —— NJ received $2.4 Billion, but only spent 2.1% of that money! Their entire rhetoric of a financial catstophy is bullshit.

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As Congress debates whether to provide more federal aid to state and local governments reeling from the coronavirus, a report by a federal government watchdog found that New Jersey had yet to spend most of the money already approved. According to the U.S. Treasury Department inspector general, New Jersey has spent just 2.1% of the $2.4 billion, or $51 … Read more

Tucker: America is witnessing a brazen power grab

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After two months of rioting and political chaos, there are still people who claim it all about the death of George Floyd. They’re wrong. #FoxNews #Tucker   FIGHT THE POWER, STICK IT TO THE MAN: Some students are daring to stand up to cancel culture. As public and historic figures are getting “cancelled” at colleges around … Read more

Republicans gaining new voters at 5X the rate of Democrats

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I’M SCREAMING! “Registration shifts across [Pennsylvania] show Republicans are gaining voters at five times the rate of democrats.” https://t.co/5HzoMKKg5U — ThePersistence (@ScottPresler) July 29, 2020 President Donald Trump and Joe Biden aren’t competing for the same composition of voters who won Trump the state four years ago. And despite Trump’s eroded political standing at the moment, at … Read more

So many mortgage, rent, credit card and auto loan repayments aren’t being paid that the US financial system faces a major crisis.

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“Extend and Pretend” forevermore. By Wolf Richter. This is the transcript of my podcast last Sunday, THE WOLF STREET REPORT. You can listen to it on YouTube, and you can find it on Apple Podcasts, Spotify, Stitcher, Google Podcasts,  iHeart Radio, and others. Until a few months ago, most Americans didn’t even know what “forbearance” was. Now, roughly … Read more

Following suspension of Russian ‘Fox News’ imitator, Kremlin warns internet users not to trust YouTube or other Western platforms

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During war all truth and information becomes corrupted… After a Russian TV channel loosely inspired by America’s Fox News was blocked by video-streaming service YouTube earlier this week, Vladimir Putin’s spokesman says Western web giants should be treated with a “low degree of trust.” Dmitry Peskov emphasized that the companies are completely unaccountable and can … Read more

Dollar crash will topple the entire US ‘house of cards’ economy by year end – Peter Schiff

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No one seems to be worried about the falling dollar, veteran stockbroker Peter Schiff writes on Twitter, as the US currency continues to slide versus major rivals amid gold and silver record growth. According to Schiff the ignorance is “likely to remain the case until the fall becomes a crash, which I don’t think will begin until … Read more

Tennessee Democrat state senator charged with stealing federal funds – Over $600,000

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Tennessee Democrat state senator charged with stealing federal funds – Over $600,000.00 MEMPHIS, Tenn. (AP) — A Tennessee state senator has been charged with stealing more than $600,000 in federal funds received by a health care company she directed and using the money to pay for her wedding and other personal expenses, federal prosecutors said … Read more