Money Flow Trading Method along with Risk Management

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4. Jan 6, 2019 9:10am

1. https://cdn-assets.faireconomy.media...ar392875_1.gif BenjaminIs
2. | Commercial Member | Joined Dec 2014 | 4,460 Posts | Online Now

Quoting otnishan
hi benj, would you share about your "risk management"? here that i understand is only TRADE MANAGEMENT and MONEY MANAGEMENT,maybe you would add about 'RISK MANAGEMENT. money management, that i read on forum is about "position sizing". trade management,is about sl/tp/exit ( risk reward ratio ) if i dont make a mistake,would clarify on this and explain about your risk management/trade management/money management. thanks
So we start off with a Forex trading account of $50,000 US dollars.

Rule (1) We NEVER trade more than 20% of the funds in the account so that means not more than $10,000 US dollars used of the $50,000 US dollars. That eliminates Margin Calls.
The reason that most retail Forex traders MUST lose their funds is that they trade with too little trading funds. I have traded with $5000 US dollars and $25,000 US dollars and $50,000 US dollars. My largest account was $100,000 US dollars. These are all Real Funds accounts.

Rule (2) Each trade plan that I trade is put in place for a period of 90 days. As an example at the moment my First trade plan is to short US 30 (Dow 30)

I scale in my shorts first by putting on a position of Short 50 units of US 30 and if there is a draw down of $500.00 US dollars then I put on a second Position of Short 100 units of US 30. The third position IF put on again is put on depending what is happening in the markets concerning US 30 (Dow 30)


The maximum LOSS for each Trade Plan is 5% of the trading capital or $2500 US dollars of the $50,000 US dollars being traded.

i can give more details however please read what I have posted and post any questions that you have.


Benjaminis
BWM

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4. Jan 9, 2019 9:03pm

1. https://cdn-assets.faireconomy.media...ar392875_1.gif BenjaminIs
2. | Commercial Member | Joined Dec 2014 | 4,461 Posts | Online Now

http://traderfeed.blogspot.com/2019/...your-2019.html

WEDNESDAY, JANUARY 09, 2019
How to Make Improvements in Your 2019 Trading
https://1.bp.blogspot.com/-sOebN5SeE...ationHabit.jpg
There are several ways that we can make improvements in our trading:

1) Become a better idea generator; become better at spotting opportunity;

2) Become a better trader/portfolio manager; become better at implementing ideas as favorable risk/reward opportunities and constructing portfolios of trades;

3) Become more consistent in drawing upon best practices; become more grounded in personal and professional processes that keep you in peak performance mode;

4) Become more consistent in recognizing and intercepting your worst practices; become more mindful of triggers and pitfalls that set you up for your worst performances.

In working on any one or all of these, it is important that the efforts are daily. We internalize what we do. The idea is to start our changes with motivation, but continue them with positive habits.

Tomorrow (Thursday, Jan. 10th, 4:30 PM EST), Mike Bellafiore and I will join the good folks atFutures.io to present a free webinar on how you can implement these four areas of improvement in your trading. We are working with developing traders who are making meaningful strides in their trading, so we see what is and isn't working in real time. Our hope is to leave attendees with specific ideas and strategies that they can use to move their trading forward in 2019.

Here is the link for webinar registration; we look forward to seeing you there!

Brett
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4. Jan 10, 2019 6:36am

1. https://cdn-assets.faireconomy.media...ar392875_1.gif BenjaminIs
2. | Commercial Member | Joined Dec 2014 | 4,462 Posts | Online Now

Good Morning

https://finviz.com/futures_charts.ashx?t=YM&p=m5

https://finviz.com/news.ashx?v=2

The first thing that needs to be done today is to determine if we have RISK ON or RISK OFF.

The Trend is 100% down of that there can be no doubt. So the question today for my Forex Trading is which of my 5 Trade Plans do I use. The 5 Trade plans good until March 31, 2019 is as follows;

(1) Short US30 (Dow 30)

(2) Short SP500

(3) Long Silver

(4) Long Gold

(5) Short USD/JPY

I NEVER trade against the trend. So the question is when to establish my trades. The time to make the decision is between 8:30 AM and 10:00 AM when the first news comes out in North America markets. I usually decide also based on what news events will occur during the trading day that I am aware of. For example today the FED chairman has a speaking engagement and one word from him can change the PERCEPTION from RISK OFF to RISK ON.

That is why most Forex traders that trade with charts being the main decider will lose.

I will check in later to continue my remarks and decide what Forex trades I will make today.


Benjaminis
BWM

1. Cleanup
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3. Jan 15, 2019 9:07am

1. https://cdn-assets.faireconomy.media...ar392875_1.gif BenjaminIs
2. | Commercial Member | Joined Dec 2014 | 4,463 Posts | Online Now

https://finviz.com/news.ashx?v=2

https://finviz.com/futures.ashx

https://finviz.com/forex.ashx

https://finviz.com/crypto.ashx

https://finviz.com/futures_charts.ashx?t=BONDS&p=d1

https://finviz.com/futures_charts.ashx?t=ZN&p=d1

https://finviz.com/futures_charts.ashx?t=ZF&p=d1

https://finviz.com/futures_charts.ashx?t=GC&p=m5

https://finviz.com/futures_charts.ashx?t=YM&p=m5

https://finviz.com/futures_charts.ashx?t=ZT&p=d1

https://finviz.com/futures_charts.ashx?t=DX&p=m5

https://finviz.com/forex_charts.ashx?t=EURUSD&tf=m5

https://finviz.com/forex_charts.ashx?t=GBPUSD&tf=m5

https://finviz.com/forex_charts.ashx?t=USDJPY&tf=m5

Hello VEEFX

I have spend many hours keeping my word to myself and using my DISCIPLINE to update you and answer your questions.

If you want to become a winning Forex Trader I will try one more time for FREE to teach you however you need to be able to invest at least one hour each day in order to learn and open up a $50,000 US dollars FXCM UK Demo account for me to be able to teach you properly over the next 30 days.


Benjaminis
BWM

https://www.zerohedge.com/news/2019-...ops+to+zero%29

After a year of tapering, the Fed’s balance sheet finally captured the market’s attention during the last three months of 2018.
https://zh-prod-1cc738ca-7d3b-4a72-b...ghtening_0.jpg


By the start of the fourth quarter, the Fed had finished raising the caps on monthly roll-off of its balance sheet to the full $50bn per month (peaking at $30bn USTs, $20bn MBS, although on many months the B/S does not actually shrink by this full amount which depends on the redemption schedule) and by end-Q4 markets also experienced some of the largest volatility and drawdowns in nearly a decade.
https://zh-prod-1cc738ca-7d3b-4a72-b...Jan%202019.jpg


As Nomura's George Concalves writes in a Friday letter, whether it was a coincidence or not, broader markets questioned the Fed’s original view that B/S roll-off was going to be like “watching paint dry.” Indeed, recent Fedspeak has shifted to being more open-minded, with Fed policy makers suggesting that they are prepared to be “flexible” in implementing their balance sheet policy.


The reason for that is that as both the market and the Fed (and especially Chicago Fed president Charles Evans) were violently reminded, just as QE added liquidity and boosted all asset prices, so QT is draining liquidity from the system. Worse, as Marko Kolanovic wrote in his latest report from Jan 16, given the recent collapse in liquidity and the toxic feedback loop of flows- liquidity-volatility which we discussed last week, "investors are very attentive to monetary policy measures that may affect liquidity."


And since the most closely watched metric of systemic liquidity is once again the pace of the Fed’s balance sheet change, and specifically, reduction, Kolanovic notes the recent example of a sharply negative market reaction to the comment that balance sheet reduction (Quantitative Tightening or QT) will be on autopilot (and positive reaction when this statement was later modified). Additionally, even casual remarks on the balance sheet has dramatic and "significantly negative intraday impacts on markets" (such as Powell's recent remarks that the balance sheet should be "substantially smaller").

But why, Kolanovic asks rhetorically, is there such a focus on the Fed’s balance sheet from investors?

The answer is obvious: by now only clueless hacks will deny that adding liquidity in the form of QE was the single, most important factor driving asset classes higher over the past decade. According to JPMorgan, the impact of QE was ~20% of equity prices (see the bank's report here).

Yet while qualitatively the answer is simple, complications arise when one tries to quantify the impact of the balance sheet shrinkage. Specifically, as the JPM quant notes, the questions investors struggle with are how negative was/will be the impact of the QT, to wit: "It is plausible that dollar for dollar, QT has a significantly larger impact than QE."

The reason for that, according to Kolanovic, has to do that may be the previously discussed fragility feedback loop. During QE, both central banks and investors, and certainly HFTs and algos, would broadly buy assets in an environment of low volatility/ increased liquidity when the impact is small, while during QT "assets are typically sold while liquidity is removed, compounding the negative impact of other outflows."


Others have also tried to quantify the impact of QT on risk assets, most recently Morgan Stanley, which last week calculated that every $20 billion decline in Mortgage Backed Securities held by the Fed leads to a 0.37% drop in the S&P (curiously, MS found that S&P 500 returns are not significantly correlated with changes in the Fed's Treasury holdings, although that observations will surely be retested soon).
https://zh-prod-1cc738ca-7d3b-4a72-b...y%20MS%201.jpg


As a result, Morgan Stanley calculates that based on the recent MBS runoff of $15bn per month, the projected S&P 500 return impact is -3.3% for 2019, with the real estate sector hit the hardest.
https://zh-prod-1cc738ca-7d3b-4a72-b...y%20MS%202.jpg


Yet while Morgan Stanley believes it may have found the causality link between the Fed's B/S size and its impact on the market, JPM disagrees, and in his note Kolanovic assets that to his knowledge, "there is no broadly accepted understanding of the exact mechanics and magnitude of QT’s impact (e.g., how much it is a signal to the market, vs. mechanical supply/demand and price impact)."


Instead, he suggests that while there is a significant relationship between the Fed’s balance sheet changes and the market, the big drivers of this relationship are points when the large QE programs were announced such as March 2009 (e.g., when this point is taken out, the relationship no longer appears statistically significant).


In other words, unlike Morgan Stanley's attempt to extrapolate correlation into causation, JPMorgan is more intellectually honest, stating that "whatever the real mechanical impact of QT is, the indirect impact on market sentiment is likely much larger", in other words stocks drop as traders expect QT to drain liquidity and impair stocks, selling in the process and resulting in a self-fulfilling prophecy.


In a somewhat similar analysis, Nomura fixed income strategist George Concalves suggests a compromise option, noting that while his own analysis found little correlation of the smaller balance sheet to the SP500 ("unlike what was seen during the QE days where stocks had an eerie visual relationship to the actual size of the B/S") he did notice weekly B/S changes could be impacting markets.


As an example, he notes that the weeks where MBS holdings were paying down and/or weeks around the time the total size of the roll-off for both UST and MBS exceeded $20bn, markets would come under pressure with the most striking of those periods at the time being the February VIX shock.


Additionally, in 2018 there were some “chunky” roll-off and around those weeks there was market volatility and drawdowns (especially in late October and November). To fine tune its analysis, Nomura looked at market performance for a few weeks after large roll-off weeks. It found that while in Feb 2018 it looks like the higher 10yr rates impulse was just as easily the driver of the SP500 declines a couple weeks later, by end-2018 the QT narrative was well entrenched and even then stocks would decline either before or after the larger rolloff periods.
https://zh-prod-1cc738ca-7d3b-4a72-b...20rolloffs.jpg


So confirming Kolanovic's view that QT is a self-fulfilling prophecy, Goncalves muses that perhaps "markets were anticipating these moves and discounted them. Meanwhile, going back to Kolanovic's reflexive take on QT and the market, the JPM strategist notes recent intraday movements on balance sheet mentions, as well as the price action of the S&P 500 during Q4 shown in the chart below.
https://zh-prod-1cc738ca-7d3b-4a72-b...vs%20S%26P.jpg


So what does all this mean for markets?

The answer remains generally unclear, with Nomura concluding that while it believes that "QT is tightening", it is not "straight forward and seems to come in rolling aftershocks of liquidity draining and markets adjusting positions." Meanwhile, the more actue impact of MBS QT on markets "makes sense as those securities are not zero-risk weight (as are USTs) and take up capital and/or need to be a substitutes for other credit products (which impacts FCI)."

Going back to Kolanovic, the JPM quant generally agrees with Nomura, and writes that while there may be little or no mechanical impact on equity prices, most macro traders will not "fight the Fed", meaning when liquidity is added they are buying assets, and when liquidity is removed they are selling assets.

Finally, to justify his thesis that QT, for now at least, impacts markets largely as a result of feedback loops and quirks in behavioral finance, Kolanovic also notes that over the past months, "we have heard a large number of anecdotes where investors avoid buying risky assets during (or actively sell into) weeks when there is a significant balance sheet reduction, e.g., traders taping the schedule to their screens, blogs and email chains, etc.."

JPMorgan's conclusion: whatever the mechanism or sequence of events by which QT affects markets, there is no denying that the shrinking of the Fed's balance sheet does affect the S&P in an adverse way: "balance sheet reductions put significant strain on market sentiment, on flows and on the weakest link in the market – the liquidity-volatility-flow feedback loop.

If the balance sheet reduction is a signal to sell, volatility increases, liquidity decreases, and additional systematic flows are triggered." As a result, Kolanovic warns that "balance sheet driven market fragility is thus increasing the risk of market disruptions and ultimately the risk of a recession – which is in contrast to policy makers’ intentions."


Naturally one can argue this point very easily, and note that if true, then Kolanovic's assessment suggests that absent the Fed's balance sheet, the world would be in a singular depression right now if indeed the modest shrinkage of the Fed's balance sheet from $4.5TN to $3.9TN risked a recession. Consider that there is still another almost $2 trillion to go before the Balance sheet is "renormalized" and one can see why the Fed is not only trapped, but will never be able to renormalize without jeopardizing both the fake market and global economy erected over the past decade on the back of $16 trillion in central bank balance sheet expansion, i.e. liquidity.


But that's a problem for another day.


For now, we'll conclude with the schedule that JPMorgan says "traders tape to their screens, blogs and email chains" - the complete QT calendar consisting of past and projected Fed Balance sheet QT periods, courtesy of Nomura's George Goncalves. Needless to say, self-fulfilling prophecy is most likely to be validated during the "dangerous" QT weeks which are highlighted in red, when the Fed's balance sheet shrinks especially aggressively,such as Feb 20, April 3, and May 1 and 15.
https://zh-prod-1cc738ca-7d3b-4a72-b...019%202019.jpg

COMMENTS FROM BENJAMINIS: NOW YOU SEE WHY TRADING FOREX IS NO LONGER LOOKING AT CHARTS !!!

THIS IS A NEW ERA IN FOREX TRADING AND UNLESS YOU UNDERSTAND MY METHOD OF MONEY FLOW TRADING well the results will be what they are for 95% of all Forex Traders.

Good Evening !!!


Benjaminis
BWM

https://yragharris.com/2019/01/20/spraydavos/

Notes From Underground: Let’s Not Mince Words, Pepper Spray Davos


Let me begin by reiterating that this is NOT a political blog but a place for the exchange of ideas dedicated to those who desire to improve trading and investing in order to increase profits. MySTRENGTH is bringing an in-depth knowledge of political economy and 40-plus years of trading my own funds (while also managing other people’s money via hedge funds).

My personal political views OUGHT not to be relevant for when it comes to generating ideas. I adhere to the wisdom of Deng Xiaoping: “I don’t care if the cat is black or white as long as it catches mice.” While I might criticize certain persons in any political administration it is merely to criticize actions as a way of comprehending policy outcomes. (For example, my disdain for Steven Mnuchin is solely based on what I deem to be his incompetence, a similar contempt that I held for Tim Geithner.)

When I deride the gathering of elites at Davos it is in regards to the notion that insiders with rendezvous in Switzerland as a way of gaining an advantage in information over the ordinary capitalist. For the last eight years I have written my battle cry, PEPPER SPRAY DAVOS. This is a nod to the ugly scene from the University of California–Davis in November 2011, when the campus police lathered pepper spray into the faces of belligerent student protesters. It is with the same malice that I wish global police to send the insiders home from Davos with tears in their eyes.

My view is supported by none other than Adam Smith, the father responsible for much of the thought on the positive results of globalization: “People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, OR IN SOME CONTRIVANCE TO RAISE PRICES.” We at Notes From Underground will continue to analyze events from the outside looking in, and pursue profitable trades with wisdom and integrity.

***In another affront to market integrity, the Wall Street Journal reported that China was willing to “eliminate US trade imbalance” in six years. The foundation of the Chinese effort was to buy U.S. products in such quantity that the U.S. trade deficit would disappear. This BIT of news was supposedly dated two weeks earlier when the U.S./China negotiations began in Beijing. This news provided a boost to U.S. equities as well as other global stock markets. It also helps explain the persistence of the New Year’s rally, regardless of the data. Will the Chinese really do this?

We have no idea but upon analysis it seems that certain elements failed to respond in similar fashion to the equity markets. The CHINESE YUAN OUGHT to experience a huge rally because a STRONG YUAN would enable an economy restructuring from exports to imports to aid its consumers by making imports CHEAPER. This has been the argument of Michael Pettis for many years. A strong currency is needed and acts as a tax cut to consumers.

Also, upon release of this news the MEXICAN PESO OUGHT to be a major beneficiary of Chinese demand because of the role of supply chains in ensuring competitive U.S. manufacturing. The YUAN/PESO has been a long-watched barometer at NOTES FROM UNDERGROUND as I have watched the CROSS since January 1,1994, the day NAFTA went into effect. It was also the day that the Chinese government depreciated the YUAN by 50 percent to 8.7 yuan/dollar from 5.8 to the dollar. The depreciation of the YUAN was the catalyst for so much global disruption as massive amounts of foreign investment was rendered superfluous in the Chinese efforts to create an export juggernaut. The Mexican peso was trading at 3.10 to the dollar.

Today the Mexican peso is 19.11/dollar while the Chinese yuan is 6.77. If U.S. firms are going to supply China with massive amounts of goods the ultimate beneficiary has to be MEXICO as companies will seek to enhance profits through utilizing cheap Mexican labor with an undervalued currency. This will be an important place to watch for the validity of any news headlines in regards to China-U.S. trade negotiations.

Now, pepper spray DAVOS and show Mnuchin the door. (Oh, yeah, I forgot the worst part of the China news blitz:looking for a to staunch the selloff in equity markets.)

https://moneymaven.io/mishtalk/econo...USyhGu3_UNHow/

Theresa May Mulls Another "Plan A" Idea That Won't Work
https://imageproxy.themaven.net/http...U0yhPYuPeslXWg
https://imageproxy.themaven.net/http...%3Fversion%3D0
byMish

Theresa May ponders rewriting the 1998 accord to assure Ireland there will be no backstop.

The Telegraph reports Theresa May mulls amending Good Friday Agreement to get her Brexit deal past MPs.

The Prime Minister will on Monday update Parliament on her attempts to draw up a so-called "plan B" for Brexit following cross-party talks in Westminster - and discussions with other EU leaders.

One of the proposals under consideration is rewriting the 1998 accord to assure Ireland that the UK is committed to no hard border on the island after the UK leaves the European Union in March.

Ministers believe that adding some text into the agreement would serve as a way of avoiding having to commit the UK to the backstop.

The plan is likely to prove highly controversial and would require the consent of all the parties involved in Northern Ireland.

On Sunday night, Mrs May held a conference phone call with her Cabinet. One Cabinet minister said the outcome of the call was "essentially one more heave on the backstop".

Mrs May is said to have told them her plan was to do "something" on the backstop. Asked if it was something specific or just "anything", she is said to have told them "the latter".


Cannot Possibly Work
The proposal cannot possibly work because the EU would have to agree with it. And they won't.

You and I can agree that 2 + 2 = 5, but that will not make it so.

May has to know this. But She was required to come up with Plan B, so she will presents Plan A again because, as I stated yesterday, There is No Plan B: Theresa May to Resubmit Plan A on Monday.

Such silliness cannot possibly buy any time, all it can do is waste what time remains.

That is clearly her strategy, and curiously, it appears to be Labour leader Jeremy Corbyn's strategy as well.

They both cannot be right.

Mike "Mish" Shedlock

https://www.zerohedge.com/news/2019-...ops+to+zero%29

Update: Not wanting to bury the lead, here is some context for the mixed bag tonight from China. China's annual GDP growth in 2018 was +6.6% - that is the weakest annual GDP growth since 1990...
https://zh-prod-1cc738ca-7d3b-4a72-b...0_18-12-58.jpg


* * *
After downbeat headlines over US-China trade talks, and following China's greatest liquidity injection ever (over 1.1 trillion yuan last week) after weak Chinese macro data in the last few months (including the collapse of China trade data), all eyes were on tonight's avalanche of China economic data.

The Q3 bounce in macro data was extremely weak...
https://zh-prod-1cc738ca-7d3b-4a72-b...0_17-23-13.jpg

And yuan has oddly strengthened...
https://zh-prod-1cc738ca-7d3b-4a72-b...0_17-56-59.jpg

Despite constant easing by fiscal and monetary authorities...
https://zh-prod-1cc738ca-7d3b-4a72-b...9_10-39-06.jpg

After the weakest trade data since 2016, which reflects an end to export front-loading and the start of payback effects...
https://zh-prod-1cc738ca-7d3b-4a72-b...jan%202019.jpg

China just injected a record 1.16 trillion yuan into the financial system... (yea trillion with a 't')
https://zh-prod-1cc738ca-7d3b-4a72-b...18_8-30-37.jpg

We've had no shortage of warning signs in recent weeks and months that the slowdown was becoming more broad based, including the official manufacturing PMI dipped below 50 into contractionary territory for the first time since March 2016.


China's car sales, for example, declined last year for the first time in more than two decades.

Here's another sign that China's economy is slowing: GDP in the southern manufacturing hub of Shenzhen grew at 7.5 percent in 2018, Xinhua reported Friday. That compared with a growth rate of 8.8 percent in 2017, and 9.1 percent in 2016.

So what does tonight hold?

1. China Retail Sales YoY BEAT +8.2% (+8.1% exp)
2. China Industrial Production YoY BEAT +5.7% (+5.3% exp)
3. China Fixed Asset Investment YoY MISS +5.9%(+6.0% exp)
4. China Property Investment YoY SLOWED +9.5% YoY
5. China Surveyed Jobless Rate WORSENED 4.9%

And last but not least the big one:

1. China GDP YoY SLOWED +6.4% (+6.4% exp)

And visually...
https://zh-prod-1cc738ca-7d3b-4a72-b...0_18-03-39.jpg

These figures at first glance should alleviate concerns that China's slowdown would continuously get worse, although the question of course will be how reliable these figures are, but they do suggest that China's efforts to support growth are already starting to have some effect.
There was no dramatic impact as yet in markets.


The question is - is good new, bad news? We have already seen how unsuccessful China's easing efforts have been in stimulating any economic rebound... and the PBOC explicitly stated last week that there will be no blanket easing policies.

But, what really matters is China's credit impulse and its lagged effect on the economy and market... and it just hit a new cyclical low...
https://zh-prod-1cc738ca-7d3b-4a72-b...18-07-12_0.jpg

China will set its 2019 growth target officially at the annual gathering of the legislature in March, known as the National People's Congress. Reuters has reported that the plan is a range of 6 to 6.5%. But, as Bloomberg's Chris Anstey notes, many economists would applaud if China abandoned the target entirely. In the past it has been faulted for giving officials the incentive of pursuing growth regardless of cost -- leading to a build-up of bad loans and under-performing assets, weighing down on productivity and ultimately hurting the economy.

https://zh-prod-1cc738ca-7d3b-4a72-b...ebookJumbo.jpg

Of course, much like in the US, regardless of today's numbers, the story has already moved on. That's because the trade talks will determine whether or not there's another dose of tariffs or other barriers to investment. They will also dictate any near term reforms that China will need to push through to sate the trade hawks in Washington.

http://rabble.ca/columnists/2019/01/...nHHb3EWhqmbWw4


Rethinking public debt: Former IMF chief economist tackles a taboo
Duncan Cameron

January 15, 2019
ECONOMY
http://rabble.ca/sites/default/files...?itok=k-qA-W6z

In her book Economic Philosophy first published in 1962, eminent Cambridge economist Joan Robinson called economics "partly a vehicle for the dominant ideology of the period, and partly a method of scientific investigation."

The neoliberal version of capitalism has been the dominant ideology for the last four decades. Governments, not markets, fail. Therefore, governments should be limited in their economic ambitions. Market prices, not elected representatives, should allocate resources.

Under neoliberalism, a government's main role is to assist business investors to provide employment, incomes and prosperity.

Urged on by economists, governments have cut tax rates for wealthy individuals and businesses, and granted income from investment a more favourable treatment than salary and wage income.

A core belief of neoliberal capitalists is that government budgets must be balanced to prevent the accumulation of public debt. Government borrowing is discouraged because it "crowds out" private investment and drives up interest rates for corporations.

In his recent presidential address to the American Economics Association, Olivier Blanchard, a former chief economist of the International Monetary Fund (IMF), questioned the idea that public debt was necessarily bad.

Pointing to the low interest rates prevailing in the U.S., Blanchard argued that as long as the rate of economic growth is greater than the rate of interest on U.S. treasury bills, the capacity to grow the economy outstrips the growth of public debt.

Why think there is such a thing as the "burden of the debt" when, as Blanchard argues, economic growth allows debt to be paid down? Blanchard cites economists Brad DeLong and Lawrence Summers, whose research shows that increased government spending grew the economy faster, covering the cost of borrowing money to finance the spending.

Rather than thinking of debt as a charge on future generations, something to be paid forever, Blanchard points out that in a low-interest environment, governments "roll over" debt and are able to undertake new borrowing to replace the debt being retired, thanks to economic growth.

While economists have taught that government borrowing lowers overall welfare, Blanchard argues that welfare benefits outweigh costs.

The key, of course, is for governments to make wise investments with the borrowed money. In that respect, Blanchard could have pointed to the bloated U.S. "warfare" state and its huge cost in foregone social expenditures.

Under Blanchard's direction, the IMF produced research that showed the failings of fiscal austerity programs -- promoted by the IMF itself -- in the wake of the great financial crisis of 2007-2008.

In an updated assessment, the IMF concluded that government spending had a far greater impact on employment creation than its economic model had projected.

Blanchard, a French citizen, suggested in an interview with La Croix that capitalist ideology itself must be questioned, notably the commitment to free circulation of capital worldwide and to free trade. While he supports increases in minimum wages, and inheritance taxes, Blanchard, no radical, also encourages subsidizing market wages and keeping taxes on wealth low.

In his presidential address, Blanchard, by using the scientific method of economics to question the current dominant ideology, has brought together the two parts of economics identified by Joan Robinson. His research won't be enough to convince American Republicans or Canadian Conservative Party leader Andrew Scheer, who rant about too much government spending to change their minds, but Blanchard has another objective: to make the American Economics Association membership rethink its support for neoliberal thinking about public debt.

Duncan Cameron is president emeritus of rabble.ca and writes a weekly column on politics and current affairs.

Photo: International Monetary Fund/Flickr
Help make rabble sustainable. Please consider supporting our work with a monthly donation. Support rabble.ca today for as little as $1 per month!
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RELATED ITEMS
Using debt for the common good
Could we have a system where public credit was used for public works, and the common good, rather than to generate private profit, and feed corporate greed? Yes, we could.
We have nothing to fear (from debt) except fear (of debt) itself

We should accept the growing international consensus that more public debt is helping the recovery, not hurting it. We have nothing to fear from debt, except an ideological fear of debt itself.
Using the bank for the public good

We don't need the private banks to create our money. We must bring finance under democratic, public control.
DEBT
NEOLIBERALISM
GOVERNMENT SPENDING
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https://www.zerohedge.com/news/2019-...ops+to+zero%29

It's almost time for the annual Davos boondoggle where the world's richest and most powerful financiers, politicians, artists and celebrities fly in on their private jets while surrounding by bodyguards and sit down (before partying among ultra exclusive DJs) to discuss the world's ills (which they created) such as the omni-present "global warming" (the type which apparently ignores the carbon emissions from private jets) and which can only be solved by paying a major bank (say Goldman Sachs) billions in carbon credit commissions, not to mention social upheaval and populist anger (the type which bodyguards are so skilled at neutralizing) and where not surprisingly nationalism once again ranks as the biggest threat risk to attempts to impose a globalist world order.


In other words, it is "A Reunion For People Who Broke The World" where a hotdog back in 2015 cost 38 Swiss Francs.
https://zh-prod-1cc738ca-7d3b-4a72-b...vos%20menu.jpg

Which incidentally may have something to do with the reason why populism and nationalism remain the biggest fears for the world's "globalist" elite. Well, that and the fact that as Bloomberg notes, said elite is "richer than ever."

According to Bloomberg calculations, in the decade spanning the year right after the financial crisis, a staple of the Davos billionaire crowd such as David Rubenstein has more than doubled his fortune since 2009. JPM CEO Jamie Dimon has more than tripled his net worth. And Stephen Schwarzman has increased his wealth six-fold.

Considering the economic and political tumult of the past decade, from Lehman Brothers to Brexit to Donald Trump, to some - such as Bloomberg's Tom Metcalf and Simon Kennedy (whose billionaire employer Michael Bloomberg has grown tired with Davos and is launching his own rival version of the World Economic Forum), "it’s a remarkable" that the fortunes of a dozen 2009 Davos attendees have soared by a combined $175 billion (except for George Soros who has lost 61% of his net worth).

https://zh-prod-1cc738ca-7d3b-4a72-b...h%20change.jpg

... even as household wealth for the lower and middle-classes has declined.
https://zh-prod-1cc738ca-7d3b-4a72-b...t%20wealth.jpg

A counterpoint: in light of the $16 trillion in assets purchased by the world's central banks, it is neither "remarkable" nor surprising that the world's richest have only gotten richer in the past decade, nor is it remarkable - or in need of an explanation that involves Russian hacking - that as global resentment at the increasingly concentrated wealth of an ultra powerful cabal comprising a handful of people has hit unprecedented levels, the outcomes were Brexit, Trump's election and the Yellow Vest protest movement in France. Just as it is not a coincidence that neither Donald Trump, nor Theresa May or Emanuel Macron will be present in Davos this year.


Meanwhile, the anger and resentment - or "nationalism" as the Davos crowd calls it - at the ultra-rich is only set to grow: the data illustrate the ever-widening gap between the true haves — those in the 0.1% — and the have-nots of a global economy; using UBS and PwC data, global billionaire wealth has grown from $3.4 trillion in 2009 to $8.9 trillion in 2017.


Meanwhile, the rest of the world has gotten poorer (especially when indexing for the true rate of inflation).

What Bloomberg gets right is that "central bank actions to fight the financial crisis—record low interest rates and bond-buying programs—have underpinned this ballooning wealth by driving up the prices of stocks and other assets."


“Ten years ago, ironically at the lows of the market, what you wanted to own was capital and if you did own capital you did incredibly well,” said Michael Hartnett, Bank of America Corp.'s chief investment strategist.

And yet, somewhat amusingly, instead of focusing their anger on the Fed and the world's central banks, the world's population (which for the most part is unable to comprehend the nuances of creating $16 trillion in reserves out of thin air) and financial punditry is focusing on the political divide that followed the election of Trump, or the Brexit vote, when instead they should have been analyzing what events made Trump and Brexit possible in the first place.


Then again, so many financial journalists work for either one billionaire (Michael Bloomberg) or another (the Economist is partially owned by the Agnelli and Rothschild families) that one can see a certain conflict of interest there.

For those with minimal or no assets, it’s been a more challenging decade. Wages have stagnated and while equity markets have risen, fewer U.S. adults are invested in the stock market than in 2009. Compensation for chief executive officers in America’s largest firms is now 312 times the annual average pay of the typical worker, compared with about 200 times in 2009, 58 times in 1989 and 20 times in 1965, according to a 2018 report by the Economic Policy Institute.


Yet while some of the most prominent politicians are now eager to avoid the stigma of being seen at a place where only the world's richest hobnob while eating CHF 38 hotdogs, others have no such qualms. Case in point, Jamie Dimon is returning to Davos with JPMorgan larger and more profitable than ever.

Blackstone's Steve Schwarzman "recognizable in his tan winter coat over suit" has built his private equity giant into the world’s largest alternative asset manager with $457 billion of assets as of Sept. 30, 2018, up from $95 billion at the end of 2008.


Meanwhile, lest some assume that the top 0.01% are suddenly worried about their image and are willing to skip this epic boondoggle, Davos remains as popular as ever. The forum, which this year bears the perfectly apt title of "Globalization 4.0", is expected to host 3,000 people. Among other events, George Soros this year is hosting a dinner at which he will speak and Dimon's JPMorgan is throwing a cocktail party. Bill Gates will be present again, as will billionaire Carlyle Group co-founder Rubenstein, who hosts a show on Bloomberg Television (and whose fortune has doubled over the past decade).


What is also amusing are the soundbites across the years, such as this one from Ken Rogoff at the 2009 meeting: “Everyone I spoke to says it’s the grimmest Davos they’ve ever been to. The mood has been very depressed." The intervening years have given attendees plenty of reasons for cheer. Business owners and financiers have benefited from the longest bull market in history while the benefits from an era of cheap money and recent U.S. tax cuts have largely flowed to the wealthy.

As a result, the world - when measured by its Gini coefficient - has never been more unequal.
https://zh-prod-1cc738ca-7d3b-4a72-b...gini%20bbg.jpg


But the most hilarious irony of every single Davos meeting, is that virtually every year in the past decade the agenda has repeatedly flagged inequality as one of the chief risks to a stable society. So what happened next? Why the global economy’s bifurcation has only quickened, with the rich getting even richer, yet so very eager to "complain" all about it during next year's Davos meeting.


“The financial crisis was the kind of event that shakes things out, but it didn’t happen 10 years ago,” said Anand Giridharadas, author of ‘Winner Takes All: The Elite Charade of Changing the World.’ “The same rigging that caused the crisis ensured the losses were socialized.”


And speaking of the "rigging that caused the crisis", it was these billionaires that were behind it and instead of discussing ways to prevent their mistakes from leading to another global financial crisis, all they care about is how to perpetuate the divergence, even as they "lament" it year after year, before departing in their private jets after a few epic parties... at which point they proceed to complain about global warming.


* * *

Some wonder if amid the growing backlash against the globalist establishment, the Davos pow-wow has peaked. Over the past year, Bank of America CIO Mochael Hartnett said he has detected a transition in which “Joe Six Pack” will benefit relatively more as central banks withdraw easy money, populist politicians win at the ballot box and nationalism tops globalization.

“Wall Street has done worse lately while Main Street has done better,” he said. “You’re going to be in that world for the foreseeable future and I can only see that world accelerating.”

Well, he was right... until the S&P hit 2,400 at which point the withdrawal of the so-called easy money ended and the Fed once again hinted that the easy money would flow because - at the end of the day - it is the dozen or so billionaires listed above who matter when it comes to monetary and fiscal policies, not the billions who make less than a dozen dollar per day.

In short: nothing will change.

COMMENTS FROM BENJAMINIS: WE THE SHEEP ALLOW OURSELVES TO BE BROUGHT TO THE END OF OUR DAYS. SO the issue is not trading Forex anymore. The only issue is CHANGE.

http://theeconomiccollapseblog.com/a...uided-missiles

Israel and Iran are edging dangerously close to a state of all-out war. On Sunday night, Israeli forces rained missiles down on Iranian forces based in the Damascus area “for nearly an hour”. According to the IDF, this was a response to “dozens” of missiles that were fired by Iranian forces in Syria toward targets in Israel earlier that day. The Israelis were able to intercept the Iranian missiles, but if any of them had gotten through they could have caused a tremendous amount of damage. Some of the missiles that Israel fired at the Iranians were reportedly intercepted, but quite a few of them did hit their intended targets. If the violence continues to escalate, we could potentially soon be talking about an all-out war between Israel and Iran in which both sides use their weapons of mass destruction.


The missile strikes against Iranian targets in Damascus made headlines all over the globe. According to Syrian state media, there were “consecutive waves of guided missiles”…


Syrian state media cited a Syrian military source as saying Israel launched an “intense attack through consecutive waves of guided missiles”, but that Syrian air defenses destroyed most of the “hostile targets”.

Witnesses in Damascus said loud explosions rang out in the night sky for nearly an hour.

The Syrians are boasting that they were able to destroy quite a few of the Israeli missiles, but independent observers confirm that quite a few Iranian targets were destroyed.

In the past, the Israelis have not always publicly acknowledged their attacks in Syria, but on Sunday night they released an immediate statement…

“We have started striking Iranian Quds targets in Syrian territory,” Israel’s military said in a statement.

“We warn the Syrian Armed Forces against attempting to harm Israeli forces or territory.”

You can see some footage of the missile strikes right here. Among the targets were “weapons warehouses at the Damascus International Airport”…

Targets striked by the IDF, which number at around 10 according to its statement, include weapons warehouses at the Damascus International Airport and in other locations, an Iranian intelligence site and an Iranian training camp in Syria’s south.

Now that the Iranians have been hit so hard, will they respond by striking back at Israel?

If both sides continue to escalate the violence, eventually a “point of no return” will be reached, and then all hell will break loose.

Prior to the IDF missile attacks on Iranian targets, rockets were fired toward the Golan Heights from inside Syria, and Israel blamed those attacks on the Iranians…

The Israeli military said earlier on Sunday that missiles fired toward the northern Golan Heights were intercepted by the Iron Domemissile defense system. It added in a statement on Monday that an Iranian force fired these missiles, but said it holds the Syrian regime responsible for any activity in its territory.
It seems extremely unlikely that this conflict will be resolved any time soon. The Iranians are certainly not going to leave Syria, and they are definitely going to continue to funnel arms and resources to Hezbollah forces in southern Lebanon.


And the Israelis have clearly stated that they are going to resist any Iranian attempts to strengthen Hezbollah or to establish a permanent military presence inside Syria. In fact, Israeli Prime Minister Benjamin Netanyahu couldn’t have been any clearer when he said this to reporters…

“We have a permanent policy, to strike at the Iranian entrenchment in Syria and hurt whoever tries to hurt us,”Israeli Prime Minister Benjamin Netanyahu said.

If a full-blown war erupts in the days ahead, Israel will almost certainly find itself fighting Iran, Syria and Hezbollah simultaneously. Of course Hezbollah is essentially an Iranian proxy, and at this point they have between 130,000 and 150,000 missiles aimed at Israel. When war finally comes, it will be extremely bloody and extremely destructive.

Tonight, we are closer to such a war than ever. The Iranians and the Israelis absolutely hate one another, and now they are firing missiles at one another.

It isn’t going to take much to push the two sides over the edge, and if that happens we are just a hop, a skip and a jump away from the start of World War 3.
http://endoftheamericandream.com/wp-...epared-Now.png

About the author: Michael Snyder is a nationally-syndicated writer, media personality and political activist. He is the author of four books including Get Prepared Now, The Beginning Of The Endand Living A Life That Really Matters. His articles are originally published on The Economic Collapse Blog, End Of The American Dream and The Most Important News. From there, his articles are republished on dozens of other prominent websites. If you would like to republish his articles, please feel free to do so. The more people that see this information the better, and we need to wake more people up while there is still time.

https://www.bullionvault.com/gold-ne...l&utm_content=

China GDP Slowdown Sees Gold Price Erase 2019 Gains After Heavy GLD Investing

Monday, 1/21/2019 14:36

GOLD PRICES edged down on Monday, erasing 2019's Dollar gains-to-date after the metal's No.1 consumer nation China posted its slowest economic growth in nearly three decades, writes Atsuko Whitehouse at BullionVault.

Spot gold declined for US investors to $1278 per ounce – down $20 from New Year's spike to 7-month highs – after Beijing said China's GDP grew only 6.6% across 2018, the lowest official pace since the global slowdown and aftermath of the Tiananmen Square protests in 1990.

Asian stock markets rose but European equities fell, while gold prices for Euro investors fell to €1124, down some 1.1% from start-January's new 20-month high.

Ahead of today's price drop, the world's largest gold-backed exchange-traded fund – the SPDR Gold Trust (NYSEArca: GLD) – expanded at its fastest rate so far this year on Friday as investors bought the stock.

Favored by some professional money managers wanting gold-price exposure, the GLD grew to need an extra rose 12 tonnes of bullion to back its gold ETF shares, taking the fund to the biggest size since end-June.
https://www.bullionvault.com/gold-ne...-21-jan-19.png

"Growth is still very important for China," the FT today quotes economist and former People's Bank advisor Yu Yongding at the Chinese Academy of Social Sciences.

"We can only tolerate a certain slowdown...Yes, we should try to stabilise the [economy's debt] leverage ratio, but you can't cut the ratio in a hurry...[because] without growth, everything will get worse."

"US-China trade friction indeed has an impact on economic performance, but we have overcome the overall influence," adds Ning Jizhe, director of China's statistics bureau.

"Things are going very well with China and with trade," said US President Donald Trump to reporters at the White House this weekend, ahead of Chinese vice-premier Liu He visiting for talks at the end of January.

Beijing has reportedly offered to boost imports from the United States as far ahead as 2024 – to the end of Trump's second term as President should be win re-election next year – as part of trying to resolve the US-China trade war.

The UK gold price in Pounds per ounce meantimes moved sideways at £994 on Monday as Sterling weakened after Theresa May told her Cabinet about her 'Plan B' for Brexit, due to be presented to Parliament later on Monday following last week's historic defeat by lawmakers.

Amid fresh sanctions by the European Union over last year's attempted murder of a former spy in the UK city of Salisbury, the Russian state last year increased its monetary gold reserves by a record-breaking 273 tonnes to reach 2,100 tonnes, Moscow said Friday, becoming the 5th largest national holder of bullion.

Russia's gold mining output last year totaled 265 tonnes by end-October.

"The monopoly of the US Dollar is not reliable enough, it is dangerous for many," said President Vlad Putin last spring.

"It seems there is an aim to diversify from American assets," Reuters quotes a source at one Russian gold miner.

"[But] in times of uncertainty like today," says economic historian Catherine Schenk at the University of Oxford, quoted by the Wall Street Journal, "the liquidity of markets becomes even more important.

"[So] we have seen a resurgence in the dominance of the Dollar in cross-border debt and a persistence in its role as a reserve currency."

 

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https://www.bullionvault.com/gold-ne...?itok=FpcK3TsC
Atsuko Whitehouse is the Head of the Japanese Market at BullionVault and the Editor of Japanese GoldNews.
See all articles by Atsuko Whitehouse here.
Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News, RSS linksare shown there.

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https://kingworldnews.com/egon-von-g...se-in-history/

Egon von Greyerz – On The Cusp Of The Biggest Financial And Economic Collapse In History
January 20, 2019
https://kingworldnews.com/wp-content...-864x400_c.jpg


As the world edges closer to the next crisis, today the man who has become legendary for his predictions on QE and historic moves in currencies told King World News the current crisis may erupt into the biggest financial and economic collapse in history.
https://kingworldnews.com/wp-content...IV-1202019.jpg


Goldbug
January 20 (King World News) – Egon von Greyerz: “What is a Goldbug? If we look at Wikipedia, they define it as “a person who is extremely bullish on the commodity gold as an investment and or a standard for measuring wealth …… goldbug can also be used as apejorative.”…

Listen to the greatest Egon von Greyerz audio interview ever

by CLICKING HERE OR ON THE IMAGE BELOW.

https://kingworldnews.com/wp-content...erland-MAM.jpgSponsored

Egon von Greyerz continues: “Investopedia states that “A gold bug is an individual who is very enthusiastic about gold as an investment and its prospects for significantly increasing in value.”

Finally the Free Dictionary defines goldbug as “1. A person, especially an economist or politician, who supports the gold standard or 2. a person who believes in buying gold bullion as a personal investment or 3. A gold beetle.”

Since less than 0.5% of world financial assets are in gold, most people neither hold gold, nor understand the purpose of gold. The people who understand the real value of gold could only agree with one of the definitions above – a goldbug is a gold beetle. There could be no argument about that clear definition.

Many people use goldbug scathingly as a pejorative as they have never bothered to understand the significance of gold. So why have I, and a few others, been advocating the ownership of gold for the last 17 years without being goldbugs? It is not because I am bullish on the gold price and want to make a quick buck. Nor is it because I believe in the gold standard (see my article about FreeGold).

No, gold has a much more profound significance. The simplest definition of gold is JP Morgan’s: “Money is gold and nothing else.” But his statement requires further clarification. Of course money is gold. That is why gold is the only currency that has survived throughout history. All other currencies have been destroyed by rulers or central bankers by issuing endless amounts of credit and printed money until the currency has become worthless. And this is happening now again as all currencies have lost 97-99% in real terms since 1913 when the Fed was created.

If we are not Goldbugs, what is the purpose of holding gold? In simple terms, gold is wealth preservation and insurance against a rotten financial system, inflated by $100s of trillions of credit and printed money as well as quadrillions of dollars of derivatives. If you understand the bubble that this has created in all asset and debt markets, you will also understand that gold is your best protection against the coming implosion of all these markets.

For the ones who think it is different now, I beg you to study history. Every single major asset and debt bubble in history has always resulted in a collapse of the currency and the financial system, where it has occurred.

ALL-TIME RECORD: World Debt At A Staggering 3x Global GDP
The big difference this time is that the problem is global. World debt at $250 trillion is 3x global GDP – an all time record. And if we add unfunded liabilities and derivatives, total debts and liabilities amount to over $2 quadrillion which is 25x global GDP. So that is the risk that potentially could erupt into the biggest financial and economic collapse in history.
https://kingworldnews.com/wp-content...-I-1202019.jpg

There is clearly no certainty that it will happen but the probability is very high. Governments only have one remedy which is to print more money. But even a child would understand that printing more money and issuing more debt to solve a debt problem clearly doesn’t add up. Sadly the Keynesians like Noble prize winner Krugman don’t get it. You can’t solve a problem by the same means that caused it in the first place.
Let’s look at some of the reasons why it is critical to hold physical gold:
Gold protects against:
1. Currency debasement – The 97-99% fall of all currencies in the last 100 years will continue until the currencies have reached Zero. So there is only 1% to 3% to go but remember that this fall is a 100% loss value from today.

2. Bank failures/bail-ins – With leverage of 10-50x banks will not survive the next credit crunch. Add to that their derivatives exposure and a systemic failure is guaranteed.
3. Stock market collapse – Stocks have been fueled by money printing and buybacks and are now overvalued on all criteria. A 90% fall in real terms like in 1929 is likely. The economic and financial risks in the world are today exponentially greater than in the late 1920s.
4. Bond market failure – The 35 year up-cycle in bonds is now a mega-bubble that will implode. It turned down three years ago and rates are now on their way back to above the early 1980s level of 16% for the 10 year US treasury. This is a long cycle and will not happen immediately. As governments print unlimited amounts of money, default or implement moratoria, bond market investors, including China and Japan will dump their US bonds just like Russia has done already.
5. Inflation/hyperinflation – As governments, in a desperate and futile attempt try to save the system, print endless amounts of money, most major economies will have inflation leading to hyperinflation. Anyone who has lived in a hyperinflationary economy, like Argentina, Zimbabwe and Venezuela knows that their money is totally destroyed. Sadly, few people realise that gold would have saved them.
6. Deflation – Contrary to what many people believe, gold has historically performed very well in deflationary periods. In my opinion we will first have hyperinflation as governments try to save the world with money printing. When that fails and asset as well as credit markets implode we will have a severe deflationary implosion. Banks are unlikely to survive this in their present form. As banks fail, so will the money in the bank. Gold will then be money used for payment or barter.
7. Peak gold – Gold production has already peaked. There have been no major finds since the 1990s. Even if unexpectedly there will be substantial new discoveries, it takes at least 15 years from discovery to production. Thus we will see substantial shortages of gold in coming years.
8. Paper gold – The gold price is only at the currently ridiculously cheap level due to a paper gold market which determines the gold price whether it is physical or paper gold.. The price of gold adjusted for money supply is now at the same level as in 1970 when gold was $35 and 2000 when gold was $280. Paper gold outstanding is at least 100x the physical gold backing it. When paper gold holders get worried and ask for delivery, there will be no gold available and price will go “no offer” which means there is no gold available at any price. This is when gold will go to multiples of the current price.
https://kingworldnews.com/wp-content...II-1202019.jpg

9. Corporate Debt – Corporate debt has exploded in most industrial nations and is now at danger level. In the US for example corporate debt to GDP has doubled since the 1960s. Irrational optimism and share buy-backs have fueled this debt boom.
https://kingworldnews.com/wp-content...II-1202019.jpg

10. Other risks – There are a number of other major risks which can erupt at any time. These include geopolitical risks civil war, social unrest, country risk in China, Japan, USA, Middle East, Emerging Markets etc. Many of these things have already started like the US government shutdown, the Brexit fiasco in the UK, Yellow Vests in France and mass migration on several continents. All this is just the beginning.
Gold is clearly not the panacea for all the problems listed above, but there is no better insurance against the financial and economic risks in the world today which are greater than any time in history. Especially in periods of crisis, gold is the most important wealth preservation asset as well as a store of value and medium of exchange. Due to the various factors outlined above, gold is also likely to be the best investment to hold in the next few years as it is likely to appreciate substantially relative to most other assets. But remember to hold physical gold and store it outside the financial system in a very safe vault and jurisdiction…For those who would like to read more of Egon von Greyerz’s fantastic articlesCLICK HERE.

KWN now released the remarkable audio interview with Egon von Greyerz and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
ALSO RELEASED: Greyerz – Gold Continues To Hemorrhage Out Of Western Central Bank Vaults CLICK HERE TO READ.
https://kingworldnews.com/wp-content...p3-1192019.jpg


2019 by King World News. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the articles is permitted and encouraged.

http://www.whatdoesitmean.com/index2768.htm

https://www.zerohedge.com/news/2019-...ops+to+zero%29

https://www.zerohedge.com/news/2019-...ops+to+zero%29

At least 11 sailors have died after two ships caught fire while moving through the Kerch Strait separating Crimea from mainland Russia - the location of the latest escalation in tensions between Russia and Ukraine in November - after one of them was apparently rocked by an explosion the Russian Maritime Agency said. One vessel was "allegedly struck by a blast" RT reported, which caused the fire that then spilled over to another ship, an official with the Russian Maritime and River Transport Agency said.
Clouds of black smoke could be seen billowing over a vessel engulfed by a blaze on YouTube footage, which shows the scene of the incident. Another ship can be seen floating nearby.


The fire reportedly broke out as the two ships were transferring fuel from one to the other. According to RT, approximately three dozen sailors managed to escape the burning ships by jumping into the sea but at least 11 people died in the incident and 12 have so far been rescued from the sea.
The crews of the affected ships included Turkish and Indian nationals, the emergency services said, adding that there were no Russian sailors. Turkey confirmed that 16 of its citizens were aboard the affected vessels.
Emergency services said that between eight and ten ships have been sent to the rescue and are picking up the sailors. The explosion might have been caused by a safety rules violation during the fuel transfer, according to some reports.


One of the ships was a liquefied natural gas carrier and another one was a tanker; both vessels were flying Tanzanian flags.
According to the director of the Crimean Sea Ports, the maritime traffic through the strait was not affected by the incident and navigation across Kerch remains open.

https://www.zerohedge.com/news/2019-...ops+to+zero%29

Authored by Nick Routley via VisualCapitalist.com,
The suits are pressed and the jets are gassed up, as global political and business leaders prepare to converge in Davos for the World Economic Forum.
To prep the wide variety of world leaders attending the summit, the organization has just published its most recent edition of the Global Risks Report. The highly anticipated annual presentation puts the world’s most pressing issues into focus, giving a sense of what is top-of-mind for global decision-makers.
Below are the top five risks highlighted in this year’s report.
https://zh-prod-1cc738ca-7d3b-4a72-b...risks-2019.png


THE WORLD’S EVOLVING RISK LANDSCAPE
The report looks at two specific ways of evaluating global risks:

1. The likelihood of an event occurring
2. The impact or severity of an event, should it occur

And over recent years, it’s clear that the composition of these top threats has evolved.
https://zh-prod-1cc738ca-7d3b-4a72-b...-over-time.png


In 2009, the world was still reeling from the global financial crisis, so economic concerns were naturally at the forefront of discussions.
Today, the most likely scenarios to play out in the near future involve extreme weather events and natural disasters. Also trending upward are cyber-security threats and concerns over the security of personal data.


RISK PERCEPTION
Each year, the Global Risks Perception Survey looks at which risks are viewed by global decision-makers as increasing in the coming year.
https://zh-prod-1cc738ca-7d3b-4a72-b...vey-2019-1.png


Some clear themes emerge from the responses:
A Breakdown in Geopolitical Cooperation
From trade wars to the dissolution of weapons treaties, cooperation between countries is on the decline. Leaders are concerned that this divergent geopolitical climate may continue to inhibit collective progress on important global challenges.


Technological Instabilities
As the influence of technology creeps into more aspects of everyday life, cyber-attacks and lax cybersecurity protocols are becoming more of a concern. In one dramatic example information theft, multiple breaches of India’s government ID database reportedly left the information of over 1 billion registered citizens exposed. Technology is influencing society in other ways too, such as the pervasive issue of “fake news”.


Polarization of Government and Society
One of the major themes of this year’s forum will be addressing increasing polarization in many countries.


Where opposing political groups previously expressed frustration with each other, they now express fear and anger.
– Global Risks Report 2019
GAUGING THE NATIONAL SENTIMENT
The report also looks at questions related to human happiness too.
One might ask, “Is the world becoming a better or worse place?” That, of course, is a complicated question, and one that is influenced by geography and socioeconomic standing.
https://zh-prod-1cc738ca-7d3b-4a72-b...-countries.png


Survey data also shows that when people are asked to compare their lives to their parents’ generation, the answers vary greatly from country to country.
The prevailing opinion in China is that things are improving, whereas nearly 60% of French respondents had a pessimistic view of the realities facing their generation. While France has a uniquely gloomy outlook on the future, this uncertainty is reflected in the opinion of citizens in many other developed democracies as well.

In Davos, global leaders will be pondering a similar question: How do we move towards a brighter future for the next generation when the collective will for tackling global problems appears to be weakening?

Hi BenjaminIs,
very impressive, you are knowledgeable person. you have very deep eyes on world politics, so nowadays no Forex?? just relax?