Margin Call: This is what the beginning of a fire sale looks like

5:04 AM dollar, japan, Nikkei, stock markets, yen No Comments

When Asian markets opened on June 13, few had the expectation of anything more than a routine day of trading.  However, with a new report on China's slowing economy, and the Nikkei finally capitulating to the sellers, all hell broke loose and every exchange from Tokyo to London threw fundamentals to the wind and commenced an all out sell-off.

Charts courtesy of Zerohedge

A Fire Sale
Margin Call — MOVIECLIPS.com

To add insult to injury, the dollar is under immense pressure, with the Japanese Yen falling 172 bp to 94.15.  Prime Minister Abe's vision of battling deflation has become a nightmare of Keynesian proportions.

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The ghost of Ron Paul spoke on evils of government surveillance thirty years ago

8:25 PM 1984, congress, nsa, ron paul, Ronald Reagan, surveillance No Comments

Former Congressman Ron Paul may have left public office last year, but his legacy of fighting tyranny and oppressive behavior by the government is laced throughout his legacy.  In fact, even during the conservative years of Ronald Reagan, the Texas Congressman foresaw what government was doing then, and would do in the future in regards to surveillance on citizens in America.

Ron Paul Legacy:  Fighting for Freedom and liberty when few did

For many of us today, in the wake of the NSA spying scandal, and uncovering of near total surveillance on the American people, we can look back and realize that at least one politician fought for, and foresaw the end game of government, even if it may now be too late to stop it.

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Amazon new best seller: Orwell's 1984 sales rise nearly 7000% in 24 hours

11:32 AM 1984, animal farm, brave new world, George orwell, nsa spying, obama administration, orwell No Comments

A few years ago it was Ayn Rand and Atlas Shrugged which gained the attention of a new generation of people as the 2008 credit crisis led many to 'going Galt' and away from the mainstream economy.  Now with the wide open scandal regarding NSA spying, Amazon sales of George Orwell's 1984 have shot up nearly 7000% on June 11, and are the 4th best rising seller in the global bookstore's inventory.

In the last 24 hours, sales of the 'big brother' book 1984 on Amazon.com have soared by almost 7000% as the reality of the surveillance state come to the public's attention. As Liberty Blitzkrieg's Mike Krieger notes, we suppose it makes sense that people would want to get up to speed on the dystopian world being constructed rapidly and secretly around them. 1984 is now the 4th fastest rising sales book and 184th most popular on Amazon! - Zerohedge

Couple this with a 290% rise in Amazon sales of Orwell's Animal Farm, and Americans are suddenly realizing that the Fabian socialists of the 40's and 50's laid out the future which the 21st century Obama administration has almost fully implemented.

Now, if only Americans would go find some old tattered copies of Brave New World.

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National Geographic documentary provides new look at money and the Fed

6:34 PM currency, fed, federal reserve, money, treasury No Comments

Ever wonder how the creation of U.S. currency and what we call money is done?  For some, their knowledge of the usurpation of the Treasury to a private bank corporation would be correct, but for most, money is simply something created by the government so that people don't kill each other trying to get something to eat.

National Geographic has created a new documentary to look at money, trust and confidence, and the history of currency in America.  From Gold to the greenback, precious metal certificates to Federal Reserve notes, the flow of money has gone from credit and value, to obligation and debt in the course of our 250+ year history.

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Hindenburg Omen Sighting: Market looks to party like it's 1929

11:50 AM 1929 stock market crash, Hindenburg omen, stock market 1 Comment

While the famous Hindenburg dirigible crash took place in 1937, its financial namesake, the Hindenburg Omen, points to a time eight years earlier when the stock market crash ushered in the global depression.

This omen, which has foreseen stock market crashes on two separate occasions in the 21st century, made its appearance once again on May 31, and the Dow responded with a 207 point plunge over the course of three hours.

Hindenburg Omen:

The Hindenburg Omen is a combination of technical factors that attempt to measure the health of the NYSE, and by extension, the stock market as a whole. The goal of the indicator is to signal increased probability of a stock market crash.
The rationale is that under "normal conditions" a substantial number of stocks may set either new annual highs or new annual lows, but not both at the same time. As a healthy market possesses a degree of uniformity, whether up or down, the simultaneous presence of many new highs and lows may signal trouble. - Wikipedia

...there appear to be three reasons being discussed for this drop in stocks.

Third, and perhaps more important to some, based on intraday data so far, the much-discussed Hindenburg Omen has been spotted (as it also was before QE2 was announced to save the world). The last time we were this high in stocks and the Hindenburg was spotted was October 2007... - Zerohedge

As the markets reached new all-time highs on a 7 month rally, only to fall to their worst two week drop in 2013, the omen known as Hindenburg is an ominous sign that the party of 1929, 1987, and 2007 may be over, and over quickly if the forecast holds true to historical trends.

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Vegas and Macau make big bet on high rollers as economy pushes away the small gambler

10:53 AM gambling, high rollers, las vegas, macau, nightclubs No Comments

The economic downturn has been disastrous to a number of industries, but perhaps no greater to the playground of America, Las Vegas.  As of May 28, the former world stage for fun and gaming has been relegated to third place on the list of global gambling spots behind Macau and Singapore, and is making a huge bet on attracting high rollers, while limiting its options for the pocket change gaming public.

Image courtesy of Gameroom Depot.ca

In Sin City, where over-the-top is always the sales pitch, lavish nightclubs featuring a heart-pounding party have become the backbone of a billion-dollar industry that is soaring while gambling revenue slips.

The rise of the Vegas super-club coincides with the decline of the town's gambling supremacy. The tiny Chinese enclave of Macau surpassed the desert oasis as the world's top gambling destination in 2006. Singapore is on track to claim the No. 2 spot. - Huffington Post

Additionally, the global leader in gambling stops is spending billions of dollars in creating a dreamland for high rollers, with one destination offering a royal treatment at the low cost of a $1.6 minimum betting requirement.

With the political transition completed, the VIP business is back to normalcy - as evidenced by Sky 32, an elite oasis of luxury on the 32nd floor of the Galaxy Macau casino, offers commanding views, a waterfall, a bar with vintage single malt whiskeys - and six sumptuous rooms where players must commit to betting at least 10 million yuan ($1.6 million). - Zerohedge


Like the luxury automobile industry, that rarely sees economic downturns during recessionary periods, the rich will always spend lavishly despite the poor and middle class tightening their belts.  And as middle America falls back to local casinos on Indian reservations, or home poker games to satisfy their gambling lusts, the world of gaming is making huge bets that the elite will always want the world's finest, and are willing to pay to play no matter the financial cost.

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Federal Reserve job opening lets you test new ways to screw the public

1:26 PM federal reserve, job, job application, penetration tester No Comments

On May 20, the Federal Reserve tweeted a new job opportunity for public application.  The title of the job is Penetration Tester, and as most Americans know, the entity that controls monetary policy and the strength of the dollar has numerous employees already trained in sticking it to us.

#Job Opportunity Penetration Tester: rfer.us/FRSRfUtb.
— Federal Reserve Jobs (@FedReserveJobs) May 20, 2013

The Job Description and application can be found here.

The Daily Economist is wondering however, if women applicants are given higher priority, as we know the current administration is an equal opportunity exploiter.

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