Money Flow Trading Method along with Risk Management

Hi,

You are definitely right about leaving the positions open. I have encountered such thing numerous times and eventually closed the positions with the loss. I realized that sometimes it is best to analyze the situation like what you have described many many times, before letting the emotion rush make the decisions.

Thanks again for your post, I enjoy reading it a lot! It starts to become part of my reading hobby now, lol

Thank you for the kind words. That is my goal here along with KeepCalmfx. When you learn something then we are happy. I appreciate the feedback and the more that you post with any and all comments then the better.

The last few days were very much fun for me and whether I trade a $50,000 US Funds Demo Account or a REAL FUNDS $50,000 US Funds account you must treat both the same. When I have a DRAW DOWN compared to closing all my positions. I have the same HIGH doing it because for me they are both the same. Of course in my case having traded millions of US Dollars with real funds then I know that I trade the same way. I once thought that my contact at PFG BEST in Chicago , Casey C had a client for me who had $5,000,000 US Dollars for me to manage so he at my request opened a $5.000,000 US Funds Demo Account.

I traded it for exactly 56 days and got my balance over $7,500,000 US Dollars and did 1804 Forex Trades. Looking at the volume of $100,000 US Dollars per open position times 1804 Forex Trades is a lot of Millions traded. I have sent the PDF File of my 1804 Forex Trades to KeepCalmfx to verify my numbers and it can be confirmed. The amount of losses that I had in those 1804 Forex Trades (DEMO) of course was 4 LOSSES.

I doubt anyone can duplicate that MYSELF included. That was 10 years ago and I did not use my Money Flow Trading Method then.

COMMENTS FROM BENJAMINIS: Let us review what we teach and why it works if YOU WORK.

Without your WORK then you are just wasting your time and probably your money.

There is no such thing as Political Correctness here because we are here to teach and share our knowledge ALL FOR FREE until May 15, 2017 and then if you have subscribed to this thread before May 15, 2017, then you will get a FREE LIFETIME PASS to our company website.

SO.... going back to our winning FORMULA for FOREX SUCCESS.

20% of the SUCCESS is yourself the Forex Trader.

20% of the SUCCESS is your EDGE which we teach you and that is Money Flow Trading.

20% of the SUCCESS is control of your RISK (Your hard earned money) Our UNIQUE RISK MANAGEMENT allows you to trade without worry, fear and greed. Of course we want to make sure that you have the right qualities to be a winning Forex Trader so our course is for a period of three months, so we can teach you the right trading methods and we can see your results and make adjustments without your FEAR OF LOSS of Real Money.

20% of the SUCCESS is using and understanding the USE of Technical Indicators which include not only the common ones. It includes the understanding of Supply and Demand. Support and Resistance and the use of Pivot Points which you can see each day on our daily charts that cover ALL our Trade Plans which we also help you develop and explain WHY. These are our Winning Trade Plans that we review every three months or earlier if circumstances in the markets require that.

20% of the SUCCESS is the FUNDAMENTALS, which are much more than Data Releases each day around the world. It includes reports and articles extremely well researched as you can clearly see from this article that explains why the TREND in the Equity Markets especially in North America is DOWN. By understanding the difference between PERCEPTIONS (MARKETS) and REALITY, you then have a good handle on REALITY before the MASSES do and you are not surprised when events eventually unfold.

In order to be able to help you better it is VERY IMPORTANT that you share your thoughts and your QUESTIONS here on our thread.


Benjaminis

Has USD/JPY Bottomed?

Daily FX Market Roundup 04.19.17

By Kathy Lien, Managing Director of FX Strategy for BK Asset Management

It says a lot when consistently softer economic data can't bring down a currency. The U.S. dollar refuses to fall despite clear evidence of a slowdown in the recovery. We've seen consumer spending drop for the second month in a row, consumer price growth decline for the first time in more than a year, job growth slow to 98K in the month of March and manufacturing activity in the NY region almost grind to a halt in April.

This deterioration drove the odds of a June rate hike down to 47% and the chance of tightening in September down to 67.5%. To put this into perspective, at the beginning of the month, the market saw an 80% chance of a rate hike in September. With this in mind, the U.S. dollar and U.S. rates should be trading lower but instead of breaking 108, USD/JPY held support and even broke above 109 intraday.

COMMENTS FROM BENJAMINIS: TONGUE IN CHEEK .... KeepCalmfx would you mind calling Kathy for me and ask her to SUBSCRIBE to our thread and I would be very happy to teach her about USD/JPY and CORRELATION and Risk Off and why USD/JPY goes down and the value of the US Dollar is not what determines the level of USD/JPY. It is simply MONEY FLOW along with RISK OFF. We will not charge her even though Boris and Her charge people a good fee to learn how to SCALP for a FEW Pips to pay their fees. Of course I am joking because she goes on TV and knows what she is talking about. I bought one of her books years ago. You know I think that I can get her to Return on Investment of 10% a month. I would think she trades her own accounts. It would be fun to know her real Return on Investment.



It can be argued that the greenback is taking its cue from yields but on Tuesday, when 10 year rates hit 5 month lows, USD/JPY drifted only slightly lower. We can pound the table about how the dollar should be trading lower but its obviously not and that is a reflection of the bids below 108. On a technical basis, USD/JPY found support right at the 50-week simple moving average. Today, the greenback traded higher against all of the major currencies as yields recovered part of Tuesday's losses.

No U.S. data was released but the Beige Book was mostly positive. According to the various Fed districts, the economy grew at a modest to moderate pace through end of March. Their comments on the labor market were mostly positive with the central bank noting that employers are having a harder time filling low skilled jobs, wage hikes broadened with employment growing modestly to moderately.

COMMENTS FROM BENJAMINIS: I guess Kathy does not read Armstrong and Mish and Zerohedge(Durden) and Stockman and Rickards and many many others.
That is what happens when you are so close to the FOREST that you DO NOT SEE THE TREES. Kathy the FED is CORRUPT and they LIE. (REALLY) SMILE...


Complacency is the only clear explanation for the dollar's resilience. USD/JPY has fallen sharply over the past month and investors are waiting for the next clear trade. While everyone knows that the Federal Reserve intends to raise interest rates again this year, there is no immediate reason for investors to readjust current expectations. The Philadelphia Fed manufacturing index is scheduled for release tomorrow and given the sharp drop in the Empire State survey, the risk is to downside for the report.

After Tuesday's strong move, sterling failed to extend its gains on Wednesday. The sharp rise in U.K. Gilt yields should have taken the currency higher but instead GBP/USD sank below 1.28. Today's move was a combination of profit taking and dollar strength. Data wise, retail sales are the big focus for GBP this week. Spending is expected to contract in March after rising strongly in the month of February. Bank of England Governor Mark Carney speaks tomorrow and his views could go a long way in determining whether GBP/USD recovers or fails from current levels. Today's pullback is small compared to yesterday's sharp rise. The EUR/USD also pulled back today relatively healthy Eurozone data. The region's trade surplus rose to 19.2B from 15.7B in the month of February while consumer price growth accelerated to 0.8% from 0.4%. There are only 2 trading days left before Round 1 of the French elections and we continue to expect euro to pull back as traders unwind positions ahead of the big event.

All 3 of the commodity currencies fell sharply today with the Australian and Canadian dollars leading the losses. AUD was weighed down by lower copper and gold prices while the sharp -3.6% drop in oil prices sent the loonie tumbling lower. This was the largest one day decline in the price of crude in 6 weeks and the move was motivated by a smaller than anticipated fall in inventories. Wednesday's oil inventory data wasn't great and the disappointment was responsible for the move in oil. USD/CAD looks poised to test 1.35 and could break this level if oil continues to fall. The New Zealand dollar also declined but comparatively less than its peers thanks to a stronger service sector PMI report. Consumer prices are scheduled for release this evening.

Regards,
Kathy Lien
Managing Director of FX Strategy
BK Asset Management
233 W 77th St Suite 11G
New York, NY 10024
Direct Line: 1-917-538-6971
Fax: 1-925-887-4373
Email klien@bkassetmanagement. com

http://files.constantcontact.com/3ea...b70618b55b.png

COMMENTS FROM BENJAMINIS: Was I politically correct ? Was I in any way mean to Kathy ? I hope not because all I was doing was stating the REALITY (HARD COLD FACTS) not the PERCEPTIONS which are based on FALSEHOODS.

Hourly Chart From Finviz on Dow 30 (DJIA) US 30.

http://finviz.com/futures_charts.ashx?t=YM&p=h1

Hourly Chart From Finviz on USD/JPY.

http://finviz.com/forex_charts.ashx?t=USDJPY&tf=h1

SO.... NO... My name is NOT Janet Yellen... HOWEVER look at the charts and first you will see the Dow 30 (DJIA) US 30 at 20,800 and NOW at 20,324.

SO... USD/JPY was at 111.50 then when US 30 was at 20,800 and now it is at 108.85 which is a DIFFERENCE of 265 PIPS !!!

What Else can I say ? Do charts lie ? Do numbers lie ? Do PIPS lie ? Does $78,555.08 US Dollars mean anything ? You decide and I already know.

http://www.zerohedge.com/news/2017-0...ops+to+zero%29

Oliver Stone Rages Against The Deep State's "Wonderful Job Of Throwing America Into Chaos"
http://www.zerohedge.com/sites/defau.../picture-5.jpg
by Tyler Durden
Apr 19, 2017 7:30 PM



In March of last year, Academy Award-winning director Oliver Stone warned the world:
"we're going to war - either hybrid in nature...or a hot war (which will destroy our country). Our citizens should know this, but they don't because our media is dumbed down in its 'Pravda'-like support for our 'respectable', highly aggressive government."

And strongly rejected the establishment's "the Russians are coming" narrative shortly after the election and correctly forecast that it wouldn't be long before the deep state pushed Trump into an anti-Kremlin position...
"As much as we may disagree with Donald Trump (and I do) he’s right now target number one of the MSM propaganda -- until, that is, he changes to the anti-Kremlin track over, God knows, some kind of petty dispute cooked up by CIA, and in his hot-headed way starts fighting with the Russians...

I never thought I’d find myself at this point in time praying for the level-headedness of a Donald Trump. "
Stone was correct and in a Facebook post tonight expresses his disappointment at Trump and disgust for The Deep State (and America's wilful ignorance).
http://www.zerohedge.com/sites/defau...419_stone2.jpg
“So It Goes”


I confess I really had hopes for some conscience from Trump about America’s wars, but I was wrong -- fooled again! -- as I had been by the early Reagan, and less so by Bush 43. Reagan found his mantra with the “evil empire” rhetoric against Russia, which almost kicked off a nuclear war in 1983 -- and Bush found his ‘us against the world’ crusade at 9/11, in which of course we’re still mired.


It seems that Trump really has no ‘there’ there, far less a conscience, as he’s taken off the handcuffs on our war machine and turned it over to his glorified Generals -- and he’s being praised for it by our ‘liberal’ media who continue to play at war so recklessly. What a tortured bind we’re in. There are intelligent people in Washington/New York, but they’ve lost their minds as they’ve been stampeded into a Syrian-Russian groupthink, a consensus without asking -- ‘Who benefits from this latest gas attack?’ Certainly neither Assad nor Putin. The only benefits go to the terrorists who initiated the action to stave off their military defeat.

It was a desperate gamble, but it worked because the Western media immediately got behind it with crude propagandizing about murdered babies, etc. No real investigation or time for a UN chemical unit to establish what happened, much less find a motive. Why would Assad do something so stupid when he’s clearly winning the civil war?

No, I believe America has decided somewhere, in the crises of the Trump administration, that we will get into this war at any cost, under any circumstances -- to, once again, change the secular regime in Syria, which has been, from the Bush era on, one of the top goals -- next to Iran -- of the neoconservatives. At the very least, we will cut out a chunk of northeastern Syria and call it a State.
http://www.zerohedge.com/sites/defau...419_stone3.jpg
Abetted by the Clintonites, they’ve done a wonderful job throwing America into chaos with probes into Russia’s alleged hacking of our election and Trump being their proxy candidate (now clearly disproved by his bombing attack) -- and sadly, worst of all in some ways, admitting no memory of the same false flag incident in 2013, for which again Assad was blamed (see Seymour Hersh’s fascinating deconstruction of this US propaganda, ‘London Review of Books’ December 19, 2013, “Whose sarin?”). No memory, no history, no rules -- or rather ‘American rules.’

No, this isn’t an accident or a one-off affair. This is the State deliberately misinforming the public through its corporate media and leads us to believe, as Mike Whitney points out in his brilliant analyses, “Will Washington Risk WW3” and “Syria: Where the Rubber Meets the Road,” that something far more sinister waits in the background.

Mike Whitney, Robert Parry, and former intelligence officer Phil Giraldi all comment below. It’s well worth 30 minutes of your time to read. Lastly, below is a link to Bruce Cumings’s “Nation” analysis of North Korea, as he again reminds us of the purposes of studying history.
Mike Whitney, “Will Washington Risk WW3 to Block and Emerging EU-Russia Superstate,” Counterpunch, http://bit.ly/2oJ9Tpn

Mike Whitney, “Where the Rubber Meets the Road,” Counterpunch, http://bit.ly/2p574zT

Phil Giraldi, “A World in Turmoil, Thank You Mr. Trump!” Information Clearing House, http://bit.ly/2oSCGrW

Robert Parry, “Did Al Qaeda Fool the White House Again?” Consortiumnews, http://bit.ly/2nN88c0

Robert Parry, “Neocons Have Trump on His Knees,” Consortiumnews, http://bit.ly/2oZ5GyN

Robert Parry, “Trump’s Wag the Dog Moment,” Consortiumnews, http://bit.ly/2okwZTE

Robert Parry, “Mainstream Media as Arbiters of Truth,” Consortiumnews, http://bit.ly/2oSDo8A

Mike Whitney, “Blood in the Water: the Trump Revolution Ends in a Whimper,” Counterpunch, http://bit.ly/2oSDEo4

Bruce Cumings, “This is What’s Really Behind North Korea’s Nuclear Provocations,” The Nation, http://bit.ly/2nUEroH
Can we wake up before it’s too late? I for one feel like the John Wayne veteran (of war) character in “Fort Apache,” riding with the arrogant Custer-like General (Henry Fonda) to his doom. My country, my country, my heart aches for thee.


* * *
http://www.zerohedge.com/sites/defau...9_stone1_0.jpg

http://www.informationclearinghouse.info/46889.htm

On The Eve of Destruction: A Conversation with John Pilger
Audio
Economist and founder of Followthemoney.com, Jerry Robinson, discusses the potential threat of nuclear war with author, journalist and film maker, John Pilger
John Pilger reveals that the United States and China, both nuclear-armed, may well be on the road to war. The film is both a warning and an inspiring story of resistance.
Posted April 18, 2017

http://ftmdaily.com/ftm-radio-show/o...f-destruction/
The views expressed in this article are solely those of the author and do not necessarily reflect the opinions of Information Clearing House.



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https://www.gravatar.com/avatar/f11f....png&s=26&r=PG
guest01 · 22 hours ago
Ivanka is making huge profits from China and her fortune is growing since Trump became president. So, I doubt she, her husband and her father want war with China unless money from China stops flowing into her bank accounts or if they think they can make more profits by starting war against China. Also, China is now cooperating with USA against North Korea. Some days ago, China and South Korea threatened North Korea about testing nuclear weapon.

Ivanka Trump won Chinese trademarks the same day she dined with China's president
April 18, 2017

On April 6, Ivanka Trump's company won provisional approval from the Chinese government for three new trademarks, giving it monopoly rights to sell Ivanka brand jewelry, bags and spa services in the world's second-largest economy. That night, the first daughter and her husband, Jared Kushner, sat next to the president of China and his wife for a steak and Dover sole dinner at Mar-a-Lago, her father’s Florida resort.
...
http://www.latimes.com/business/la-fi-ivanka-trum...

Ivanka Trump becomes hot commodity in China
Published time: 21 Feb, 2017

At least 65 Chinese companies and individuals have applied to use the name of US President’s oldest daughter Ivanka as a trademark for their products.
...
https://www.rt.com/business/378086-chinese-firms-...
https://www.gravatar.com/avatar/17d8....png&s=26&r=PG
Tony Ryan · 21 hours ago
You kinda miss the point. These intercontinental relationships were set up a decade or sso ago by the global investment banker alliance, led by the Rockefellers and Rothschilds. A decade ago there was a swap with China''s big five banks, with the French Marseillaise Rothschild bank is now owned by the Chinese. Ergo, the bankers don't care about national borders, and wars are a source of profits and power. The small players, the generals and politicians, are permitted to play their games... as long as they adhere to the banker's rules. With all public media controlled by the same bankers, viz a viz Rupert Murdoch, we will never hear the truth when we watch the news. It is only on sites like this, and Ontario's Chossudovsky's GlobalResearch.com that we will ever have any grasp of what is going on; and why. As for N Korea, there has never been less than 65,000 US troops stationed on its borders, with military fly-by and cruise-by provocations and intimidation on a daily basis. Frankly, the only protection Korea can have against the constant US threat is nuclear missiles. Clearly, nuclear proliferation is a direct product of US aggression. It looks like Trump has reneged on his earlier promise to act only on evidence. My bet is Israel has forced change on White House policy. All this followed Netanyahu's visit.

http://www.benvanvliet.net/Downloads/turtlerules.pdf

https://www.forexcrunch.com/how-to-t...ichard-dennis/

How to trade forex like Richard Dennis

By Guest Published: Apr 15, 2014 11:00 GMT | Last Modified: Apr 7, 2014 17:49 GMT Basics & Industry, Forex Basics


Richard Dennis is a famous commodities trader from the 1970s. He is famous for setting up a pioneering team of Turtle Traders who went on to make huge profits in the financial markets using a simple mechanical trading method. In doing so, he managed to win a bet with fellow trader William Eckhardt, that anyone could be taught to trade successfully.


Dennis is known as a commodities trader but the truth is that his fund would trade a whole gamut of financial futures including stock market indices like the dow, commodities like sugar, and currencies like the Japanese yen.


A guest post from ForexTime
Trading from a universe of different futures allowed Dennis the ability to more easily find profitable signals. Its thought that Dennis retired from trading shortly after the 1987 crash although many of the original turtle traders continue to trade today.


Trend following
The original Turtle Trading strategy was based on a simple rule-based breakout system that was completely mechanical in nature.

Basically, whenever a market broke out of its recent range, Dennis would initiate a buy or sell order in the direction of the move and hope to profit from a new trend. He would also use a filter rule which stated that the trade should only be taken if the last time the signal occurred resulted in a profit (hypothetical or real).

When the market turns back and begins to move the other way he would cut his losses and look for a new signal. Trading in this way allowed Dennis to capture a number of big trends with a win ratio of around 35%-40%. (This is typical for trend following systems).


Trading forex like Dennis is thus a relatively simple affair of following breakouts in currency markets and riding those trends until they start to go back the other way. After 5 years of trading this method, the Turtle Traders had reportedly earned over $175 million.


Still useful?
Since the 1990s when the Turtle Trading strategy became more widely known, the strategy has been written about in a number of published trading books and its thought that the strategy no longer works. Indeed, the exact strategy that Dennis and the Turtle Traders used is shown to have hit a peak in the late 1970s which it has rarely been able to recover.


However, even though that strategy is no longer considered profitable, a number of Turtle Traders, William Eckhardt included, still trade the markets today with great success. It would not be unreasonable to suggest that they are trading a derivative model, not too dissimilar to that of the original Turtle system.


Further reading: 5 most predictable currency pairs



Comments from Benjaminis: We use a method that stands on it's own merits....

https://www.forexcrunch.com/french-e...tes-one-place/

French elections 2017 – all the updates in one place

BY YOHAY ELAM PUBLISHED: APR 19, 2017 09:05 GMT | LAST MODIFIED: APR 19, 2017 10:46 GMT FOREX NEWS

TwitterFacebook
French voters go to the polls in what could be a very consequential vote for the value of the euro and the whole European Project. Our preview details four scenarios for the first round and the corresponding consequences for EUR/USD. The news flow continues.


This page features every related update: from the background, the previews, the actual news and the long aftermath:

1. Apr 19, 12:01: French elections poll remains unchanged – Macron still leads: Yesterday’s Opinionway PresiTrack showed Macron at 23%, Le Pen at 22%, Fillon at 20% and Melenchon at 19%. The April...
2. Apr 19, 10:34: Trading the French Elections with EUR/USD – 4 scenarios: The first round of the French Presidential elections is held on Sunday, April 23rd, and the stakes are very high. Opinion polls...
3. Apr 19, 10:00: EUR to have a Brexit-type Pound-collapse if Le Pen wins: In an interview with FXStreet, we discussed everything related to the French presidential elections. The top political market mover of the year...
4. Apr 18, 19:15: EUR/USD: Into The First Round Of French Elections & 1 Week From Now – SocGen: The first round of the French elections is held on April 23rd and the stakes are high. Here are our...
5. Apr 18, 12:02: French elections – Latest poll more favorable for Macron: Emmanuel Macron leads the first round according to the OpinionWay poll with 23%, above Le Pen’s 22% and with Fillon...
6. Apr 18, 8:38: EUR: Range-Trading Into French Elections; GBP: Sell Rallies – Citi: Markets are back from the Easter holidays and it’s time to rumble. Or is it? The euro could get stuck...
7. Apr 17, 10:01: Currency of the week: EUR/USD – Cautious higher lows as French elections awaited [Video]: Euro/dollar has bounced off the lows once again and we are already seeing a pattern of higher lows. If we...

Get the 5 most predictable currency pairs
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ABOUT AUTHOR
https://secure.gravatar.com/avatar/1...s=100&d=mm&r=gYOHAY ELAM

1. Website

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. YOHAY'S GOOGLE PROFILE

https://mishtalk.com/2017/04/19/fant...es/#more-45412



Fantasyland Reality Check: Fed’s Beige Book Makes Impossible Claims in at Least 3 Places


19 Wednesday Apr 2017
Posted by Mish | April 19, 2017 8:54:07 | Economics


The Fed’s Beige Book, a summary of economic activity in 12 Fed regions, claims modest wage increases broadened, manufacturing expanded, and light vehicle sales strengthened.

Let’s investigate those claims in detail, emphasis mine, then do a reality check on those ideas.

Overall Economic Activity
Economic activity increased in each of the twelve Federal Reserve Districts between mid-February and the end of March, with the pace of expansion equally split between modest and moderate. In addition, the pickup was evident to varying degrees across economic sectors. Manufacturing continued to expand at a modest to moderate pace, although growth in freight shipments slowed slightly. Consumer spending varied as reports of stronger light vehicle sales were accompanied by somewhat softer readings in non-auto retail spending.


Employment and Wages
Employment expanded across the nation and increases ranged from modest to moderate during this period. Labor markets remained tight, and employers in most Districts had more difficulty filling low-skilled positions, although labor demand was stronger for higher skilled workers. Modest wage increases broadened, and reports noted bigger increases for workers with skills that are in short supply.


Prices
On balance, prices rose modestly since the previous report. Input prices generally increased at a modest rate and outpaced gains in selling prices, which rose only slightly.

Manufacturing Expansion?
https://mishgea.files.wordpress.com/...ng?w=529&h=350
The curious thing about these numbers is the Beige Book and Industrial Production reports both come from the Fed!


Stregthening Light Vehicle Sales?
On April 3, I reported March Auto Sales Final Numbers: Down 5.7%, Two-Year Low; Don’t Worry, It’s Just a Plateau!
https://mishgea.files.wordpress.com/...ng?w=529&h=112
Also on April 3, I reported Auto Inventories Highest Since July 2009: Concerns Mount, Ford Vehicle Sales Decline 7.2%, GM Up 1.6%

Somewhat Softer Readings in Non-Auto Retail Spending?
The fact of the matter is Retail Sales Unexpectedly Decline, Revisions Even Worse. Here is a snip from Econoday.

Highlights
First-quarter consumer spending is in trouble. Retail sales fell 0.2 percent in March which is under the Econoday consensus for no change. Importantly, February sales are revised sharply lower, to minus 0.3 percent vs an initial gain of 0.1 percent.


Vehicle sales round out the quarter with a 3rd straight sharp decline at minus 1.2 percent. Sales at gasoline stations, due to lower prices, fell 1.0 percent. But when excluding both vehicles and gasoline, sales could only manage — despite sky-high consumer confidence — a second straight 0.1 percent increase.


Other areas of weakness include sporting goods which fell 0.8 percent and furniture stores which were down 0.3 percent. And two special areas of weakness are restaurants which fell 0.6 percent for a second straight decline and building materials which fell 1.5 percent.


Modest Wage Increases Broadened?
That claim is arguably true on the surface, but if one factors in price inflation, wage growth is nonexistent since August of 1971.
https://mishgea.files.wordpress.com/...ng?w=529&h=396
Flashback 1971
1971 is an interesting year, at least for me. That’s when I graduated from Schlarman High School in Danville, Illinois.

Tuition at the university of Illinois for a degree in Civil Engineering was $250 a semester. It’s now $17,628 a year, $8814 per semester.

I helped finance my way through college working at grocery stores and playing poker against farmers in Perrysville and Cayuga Indiana. $100 was a huge win. I did not always win, but I usually did.

Taking into consideration losses (I was never willing to lose more than $20), I suspect I averaged $40 in the plus column per session. At the then going average wage of $3.66, $40 was about 11 hours of normal work. At the fast food wage of $1.70 per hour that was about 23 hours of work.

Thank the Fed!
Many of you don’t believe the stated inflation rate. I don’t either. But it is especially wrong for those attempting to put themselves through school and those who wish to buy a new home.


The Fed and government meddling via student loan programs and affordable housing programs have crucified students and home buyers via an explicit policy of inflation, the Fed clearly does not know how to measure.


Economic Challenge to Keynesians
Of all the widely believed but patently false economic beliefs is the absurd notion that falling consumer prices are bad for the economy and something must be done about them.


I have commented on this many times and have been vindicated not only by sound economic theory but also by actual historical examples.
My article Deflation Bonanza! (And the Fool’s Mission to Stop It) has a good synopsis.
And my Challenge to Keynesians “Prove Rising Prices Provide an Overall Economic Benefit” has gone unanswered.

There is no answer because history and logic both show that concerns over consumer price deflation are seriously misplaced.

The BIS did a study and found routine deflation was not any problem at all.

“Deflation may actually boost output. Lower prices increase real incomes and wealth. And they may also make export goods more competitive,” stated the BIS study.

It’s asset bubble deflation that is damaging.

And in central banks’ seriously misguided attempts to fight routine consumer price deflation, central bankers create very destructive asset bubbles that eventually collapse.

When those bubble burst, and they will, it will trigger debt deflation, which is what central banks ought to fear.
For a discussion of the BIS study, please see Historical Perspective on CPI Deflations: How Damaging are They?

Lower Prices Increase Real Incomes!
Read that line over and over and over again until it sinks in.

The Fed does not want lower prices. Banks and the already wealthy are the beneficiaries.


Many Students and new home buyers have been made debt slaves in the process.

Mike “Mish” Shedlock

http://davidstockmanscontracorner.co...rs-data-dives/

Wall Street, Retail Sales, and Consumer Surveys, The Dogs Are Chasing Their "Tales"


By Lee Adler. Posted On Wednesday, April 19th, 2017

The Wall Street Journal took note of the decline in retail sales reported by the US Census Bureau last week, headlining:
U.S. Retail Sales Fall for Second Straight Month

The Journal blamed drops in spending at gas stations and auto dealerships.

Their lead paragraph was emblematic of the stupidity and misleading nature of Wall Street and economic conventional wisdom.

U.S. retail sales fell for the second straight month in March, a sign economic growth eased to start the year despite strong consumer optimism and steady hiring.

Exactly how did the Journal know that consumer "optimism" was strong?
Answer: Surveys... particularly the University of Michigan Consumer Sentiment Index, and the Conference Board's Consumer Confidence Index, also known as the Con Con Con Index.

The real function of these surveys is to measure how well they have learned the lessons Wall Street has taught survey respondents. Consumers report not whether they have the wherewithal to spend or not. Instead, they report what they think they should say, based on the stock market.


Wall Street, the mainstream financial media, and the high priests of Economism have told consumers for years that the stock market is a reflection of the economy and forecaster of the economy's future. When the bell rings as the stock market makes new highs, consumers salivate and regurgitate to survey takers what they have been taught. The stock market is going up, so the economy must be doing great.


This is where the dog chases its tail. The dog is the Wall Street media. The tail is the consumers who wittingly or unwittingly tell the Con ConCon survey takers little white lies about they think of present economic conditions, and what their expectations are for the future.


Wait a minute. The economists at the Con Board and U Mich can't forecast the future. Even the Fed Almighty can't accurately forecast the future. And the stock market appears to constantly overstate how good things are, and how good they're going to be. Yet these economic sages think that asking consumers what their expectations are about the economy in the future serves some useful purpose, like predicting whether consumers will spend or not.


Then the dog, the Wall Street media, gets into the act of chasing its "tale." It reports with great consternation that retail sales were down DESPITE consumer optimism. I can just see the fin journo crowd scratching its collective heads over that one, as they groom each other and pick the nits out of each other's fur in their echo chambers.

The media and the economism high priests all assume that retail sales should reflect the stories that consumers tell survey takers. But all those consumers are actually doing are giving the pollsters a stock market report. "Oh the stock market made new highs. The stock market discounts the future [not really] therefore I should tell this nice pollster that things are good now, and just wait, they're going to be even better in the future. In other cases the respondents are simply pulling the pollster's leg.


Notice in the chart below how the Con Con's Expectations Index surged following the market's big move up to new highs last month. There was no reason whatsoever economically for consumers to feel that much more confident about the future. They were just following the stock market.

The Expectations Index is now higher than it was at the top of the housing bubble.Likewise the Present Conditions Index has steadily trended to a peak higher than the housing bubble peak. However, it is still below the level it was in 2001, which was a year after the peak of the internet bubble in 2000. This chart does not go back quite that far.
http://davidstockmanscontracorner.co...17/04/conf.gif
The Con Board aggregates the two indexes into its the Total Index, which is the one the media focuses on. Doug Short of Advisor Perspectives keeps a chart on that dating from the 1970s. It has broken out above the housing bubble peak, but not the peak of the internet/tech bubble. His chart shows that the increase in confidence is not consistent with economic growth as measured by GDP growth, which has been trending lower since the 1980s.

http://davidstockmanscontracorner.co...8f0313f2a9.png
What's really inconsistent with the surge in the Total Consumer Confidence Index is the fact that real median household income is LOWER than it was at the peak of the housing bubble. So why are consumers reporting that things seem better to them? Because they are following the stock market and reporting what they have learned they are supposed to say.

They are not reporting how they really think and feel, and more importantly, how they are behaving.

For that data, we don't need to survey them. We need only look at retail sales. They are facts. The headlines and media obfuscates those facts, but if we dig just a bit below the surface, the facts become clear. We'll take a look at those facts and what they tell us about about the real state of consumer confidence and what it tells us about the future in our next report.


Just remember the next time you see news about consumer confidence or sentiment, it's really a report about dogs chasing their "tales." Consumers aren't responding to the economy. They are merely reflecting what they see in the stock market. Because economists, Wall Street PR machines, and their media handmaidens have taught people to believe that the stock market reflects and predicts the economy. It doesn't do either, and neither do Consumer surveys.


The hard data speaks for itself. The economic "recovery" has been slow and tortured. The gains have been concentrated at the top of the wealth and income spectrum. Unlike consumer surveys, weak retail sales don't lie. The majority of workers and consumers have not participated in the gains, have not seen their standard of living improve.

Lee first reported in 2002 that Fed actions were driving US stock prices. The US Treasury has also played a role in directly moving markets. Lee has tracked and reported on those relationships for his subscribers for the last 15 years, helping to identify major turning points in the markets in their earliest stages.

https://yragharris.com/2017/04/19/politics/

« Notes From Underground: Treasury Takes a softer Approach to Global Monetary Affairs
Notes From Underground: The Politics of the IMF and French Election


First, I am reposting part of the January 29 post as a reminder to pay attention to the narrative of Trump rolling back to the concept of Pax Americana. As the Trump administration begins to reveal its ambitions, there is a great deal of conversation about Trump becoming more presidential and that the “grown ups” are taking charge of policy. The demotion of Stephen Bannon ignited a discussion about the Wall Street crowd (Mnuchin, Ross, Cohn, Kushner) becoming aligned with the “Deep State.” The concept of the deep state is really the power of the entrenched bureaucracy as the primary source within the beltway.

This is what I warned about in January when I discussed the role of press leaks undermining the Trump administration. The bureaucratic influence and prestige supporting 70 years of Pax Americana is not to be easily dismissed. The entrenched bureaucracy has prevailed for the moment but the drain-the-swamp crowd will be fighting its own rearguard actions as it comes to understand the political terrain of Washington. Bannon is an ideologue, not a policy maker so he will resort to bomb-throwing attacks on his self-defined adversaries.

Tonight I am posting the latest episode from the Financial Repression Authority (click on the blue link to listen). I do these for no remuneration as I think the information flowing out of this group creates great conversation and can generate some very profitable investment opportunities. Yes, it’s 34 minutes long but it is more LEARNATIVE than the network news. So pour a stiff whisky and listen while doing other reading.

I share this with, you readers because I am honored to be a part of this great dialectical process. One of the key points in tonight’s post is the development of a narrative in which to analyze the world of Trump. It is not a partisan narrative but one I am developing as I attempt to discern the unfolding global dialogue being put forward by Team Trump.


The major idea I forward is that President Trump is going to try to ROLL BACK Pax Americana. In international relations terms, Pax Americana was the theoretical basis to define American behavior in a post-World War II global configuration. America would bear any burden and any cost to promote a world order in which democracy and trade were promoted, and totalitarianism was to be confronted wherever it thought to expand. Yes, the Soviet sphere of influence was vast in territory but very few countries willingly signed up to be in the Soviet orbit. The U.S. had its empire and so did the Soviets. But the cost of maintaining an empire is expensive.

The Soviets learned that when the price of oil rose and the cost of subsidizing the deficient socialist economies of eastern Europe became too exorbitant. Pax Americana, based on capitalism and its expanding growth, was much more capable of sustaining a global empire. But maybe we have reached the limits of what America can afford. I THINK THIS IS THE NARRATIVE ON WHICH PRESIDENT TRUMP IS OPERATING.


Now, this is just a conjecture but I think it is important to utilize a construct to help understand the nuances of the new administration. The VIX may say the financial world is comfortable, but we have seen money flows and experts be wrong in their assessments for their models fail to acknowledge the turbulence beneath the waves. The end of Pax Americana, or at least a move away from U.S. dominance, always promotes great anxiety and potential for upheavals. Trump is proclaiming that Pax Americana is over and if the present world structure is to be sustained more nations will have to bear the cost. This is why Trump continues to denigrate the established world order.


The problem is that the world is far more DYNAMIC than President Trump assumes so the global response will be far more uncertain than the Trump foreign policy team imagines. Going forward our task will be to recognize the financial opportunities in a radically changing global system. Also, what Trump may underestimate will be the bureaucratic battle that will take place in Washington D.C. as the foreign policy establishment ensconced in Pax Americana thinking will be fighting rearguard actions to undermine the attempts to displace the existing order (think, a great deal of leaking). This narrative is an effort to understand and navigate the markets in an age of heightened uncertainty.


Remember, President Trump’s mantra during his campaign was that the NATO nations and other alliance partners were not paying their share of the cost of defense. Empires are expensive and when the cost is deemed a positive it is worth maintaining. But one the benefits accrue away from the CENTER of the EMPIRE questions arise about the sustaining of status quo.


This is just a reminder of the complexities involved in making policy in a world populated by with true believers. Trump has been moving away from the ideologues but watch this weekend’s meeting with the IMF to get a sense of possible changes in the status quo of Pax Americana. I noted the importance of the Wilbur Ross comment calling the IMF rhetoric on U.S. trade policy. Pure rubbish.


Today, Treasury Secretary Mnuchin attempted to soften any possible acrimony between the Trump administration and the IMF … again. Mnuchin talked nice about Christine Lagarde and in a Financial Times interview, he said he would not take a position on the IMF’s bailout of Greece.

This was in violation of IMF rules as Greece is a wealthy country when it is part of the EU community. The IMF had no business in providing loans to Athens but Mnuchin wished not to stir that pot. However, Mnuchin did throw more RUBBISH on the pile with his comments about the U.S. dollar. He said: “What I’ve talked about is the long-term value of the dollar. And as the world’s currency, the primary reserve currency, I think that over long periods of time the strength of the dollar is a good thing. It’s a function of the confidence and the strength of the U.S.economy.”


Yes, Mr. Secretary, this is of course correct but it is always a reflexive, relative issue and the valuation of the U.S. currency has been manipulated for short-term political advantage when necessary. Define for us, if you will, what long-term means. In answering if the president was talking down the dollar, Mnuchin said, “The President’s comments, which again, I agree with, over short periods of time, the strength of the dollar creates certain issues which hurt our exports.”

Mnuchin’s claim for a strong dollar policy is RUBBISH. Trump has shown that he will use dollar policy as a cudgel to brandish as an economic threat to affect foreign policy.


His tweet about not naming China as a currency manipulator in order to achieve cooperation on North Korea is a perfect example. The dollar will be a tool in this administration and in the long-term Mnuchin won’t be around to see its effective policy use.

When Robert Rubin was Secretary of the Treasury he promoted a strong dollar policy until the Chinese complained about a weak YEN (June 1998). When President Clinton was on his way to Beijing, the U.S. Treasury intervened in the currency markets by purchasing Japanese yen in an effort to raise the currency’s value. It worked and the Chinese were placated. The dollar is a short-term tool of the foreign policy establishment and the politicians in Washington. So it goes.


***France: It’s too tough to call. The worst possible outcome for global financial markets is if the two “radicals” prevail into the second round. If the far-leftist Melenchon and the Front National’s Le Pen both make it to the second round markets will be in turmoil Monday morning.

The polls seemed to be suggesting the next round will be Macron versus Le Pen, which markets would deem a positive outcome. It is significant that Francois Fillon is still hanging around with a solid base of 19%, according to pre-election polling data.


This is very tough to predict, more difficult than Brexit or Trump because the turnout will be key. The French electorate has been so alienated in the past elections that a low turnout will favor the more fringe candidates. If Le Pen and Melenchon prevail it will cause French bonds and stocks to radically decline but the greater play may be in selling anything Italian. There can be no EU without France. Without French support, Italy and its troubled assets are toast.



The markets are very complacent in a period of great political uncertainty. Also, GOLD may rally but it is a suspect rally until we have a sense of the monetary impact from a low probability, high impact French election outcome.

Greece and Brexit are non-events compared to a Melenchon/Le Pen victory. ECB President Draghi and IMF Director Lagarde will need two Ambiens on Saturday night. Watch the German/French 10-year bond spreads for some clues as to early market predictions going into the weekend. The ECB was evidently buying French debt today but will probably stay quiet as it will need all its resources if the improbable occurs.

COMMENTS FROM BENJAMINIS: Time for bed and rest and will return fresh around 7:00 AM Eastern Standard Time. (GMT-5)

Good Day - We have started to use a CODE RED INDICATOR self developed and it goes from 1 to 10.

Because of many events to unfold between now and Monday including the first round of the French elections on Sunday we are setting the number at 10.

This means it is not the time to be in the market to trade. Just too much uncertainty. My cash balance is $78,555.08 US Dollars and I will be watching and observing however no Forex trades for today.

It looks like we have some RISK ON at the moment however DATA at 8:30 AM in North America could change that. Also Steve Munchin is speaking at 1:15 PM and his words could be market moving. We have IMF meeting in Washington continuing until April 22, 2017 so who knows what they are hatching up ?


Benjaminis

https://www.armstrongeconomics.com/w...-inflationary/

The End of Quantitative Easing – Perhaps Now It Will Be Inflationary?


Blog/Banking Crisis


Posted Apr 20, 2017 by Martin Armstrong
https://www.armstrongeconomics.com/w...len-draghi.jpg
One of the greatest monetary experiments in financial history has been the global central bank buying of government debt. This has been touted as a form of “money printing” that was supposed to produce hyperinflation. That never materialized as predicted by the perpetual pessimists. Nevertheless, the total amount of Quantitative Easing (QE) adding up the balance sheets of the Federal Reserve (Fed), the European Central Bank (ECB) and Bank of Japan (BOJ) is now around $13.5 trillion dollars, which by itself is a sum greater than that of China’s economy or the entire Eurozone for that matter.

https://www.armstrongeconomics.com/w...es-600x322.jpg
https://www.armstrongeconomics.com/w...-r-600x399.jpgIf QE failed to produce inflation, then ending QE may actually produce the inflation people previously expected. Where’s the strange logic in that one? Well you see, it really does not matter how much money you print, if it never makes it into the economy, it will not be inflationary. Additionally, even if it makes it into the economy and the people hoard for a rainy day, it still will not be inflationary.


The craziest thing the Fed did was create excess reserves. The bankers complained that the Fed was buying the government debt so they would have no place to park their money. The Fed then accommodated them creating the Excess Reserves facility and paid them interest for absolutely no reason whatsoever.

Almost $3 trillion was parked at the Fed collecting interest so that $4.5 trillion of “printing” money never made it out the door. Hence, there was no inflation to speak of (outside of healthcare which always rises no matter what), and people hoarded. The pundit kept calling for a crash in the stock market but overlooked the fact that retail participation was at historic lows. Why? They were hoarding their money.


So how does stopping QE actually create inflation? The withdrawal of the Fed, the ECB and the BOJ from the QE programs will lead to an increase in yields on the bond markets sending the financing costs for the states higher. This will now increase government spending & borrowing much more rapidly even if they fail to increase program spending. Government are not looking at this at all because they always assume what worked before will resume. This is predicated upon the notion that people will continue to buy government debt.


Governments have increased their spending sharply because interest rates were effectively zero and the central banks were buyers. Where the national debt under Ronald Reagan reach $1 trillion for the first time, Obama routinely ran $1 trillion budgets annually.

Now comes the moment of truth. Has QE undermined the bond market to such an extent that only a blind fool will buy government debt in an atmosphere of rising rates? How can bonds survive and the system of perpetually borrowing year after year without ever paying-off the debt continue indefinitely? Such theories cannot ever see that the economy is a cycle and that just because they could sell their bonds today does not guarantee they will be able to do so tomorrow.


Moreover, other sectors of the global financial system have been seriously disrupted. For one, European banks were shipping cash to their US branches and also parking it at the Fed whereas the ECB was charging negative rates. Furthermore, of the $13.5 trillion on the balance sheets in the Fed, ECB & BOJ, they are now trapped and cannot sell that debt back to the marketplace. This means they are themselves screwed and they have to wait for that debt to mature in order to reduce their balance sheets. They have no way out.


Furthermore, since the central banks cannot resell what they bought in the $13.5 trillion white elephant, they are also loaded to the gills with government paper. The ECB is the most vulnerable because it owns 40% of European government debt of member states. As the economic conditions tear the union apart, the ECB balance sheet is the most vulnerable of all and prone to default.


Additionally, this trio of banks has exhausted their arsenal. The Fed need to raise rates to be able to try to reduce them during a decline, but they cannot buy more government debt without ballooning themselves to the point they risk their own default.

A default of a central bank, as Jackson did to the Bank of the United States, was followed by the Panic of 1837 and the State Sovereign Defaults of the 1840s creating a depression, which set the stage for the civil war.


The Fed had a balance sheet of about $900 billion in 2008, whereas it currently stands at about $ 4.5 trillion. The Bank of Japan recorded an increase of 107 trillion yen in the same period of time to about 490 trillion yen or also about $4.5 trillion. Then we have the ECB which has more than doubled its balance sheet from EUR 2 trillion to EUR 4.1 trillion or also about $4.5 trillion.


The central banks bought the government bonds from the commercial banks and paid them money created out of nothing which is how the pessimist put it. In theory, that is elastic and if the government debt matures, it then evaporates from the balance sheet. Here comes the problem. The governments continue to borrow. With the central banks no longer buyers, then interest rates can rise faster than anyone expects because they will have to entice fresh buyers. If that fails to materialize, then we come to the Sovereign Debt Default crisis.


The Federal Reserve had recently announced that it would no longer reinvest its gains on government bonds that had matured into new US securities, resulting in a shortening of the balance sheet. Bills of $426 billion will be due at the Fed in 2018, and again about $357 billion a year later. So if the Fed will not repurchase that debt, then the amount of new debt coming to the market will DOUBLE.


The Treasury will be forced to find ways to absorb the additional supply if the Fed wants it’s cash back so the Treasury must find a lot more private buyers. The shrinking of the balance sheets represents the continued deflationary trend from a real economic expansion trend. The government will be competing for cash in an ever growing tighter economy.


The balance sheet of the Japanese central bank is likely to be expanded for a while as long as the targeted inflation target of 2 percent is not reached. The ECB’s balance sheet will continue to grow at least until the end of the year, as the borrowing program has been running until then. However, the negative effects of the balance sheet shortening of several central banks will mutually reinforce each other in 2018 and help to bring the financial crisis to a head for 2018-2020.


The withdrawal of the ECB’s purchases of securities that also included European corporate paper will lead to secondary effects even outside Europe and help to further maintain the deflationary aspects with respect to economic growth. This will serve to demonstrate the unintentional impact of this entire unorthodox monetary policy experiment.
https://armstrongmedia.s3.amazonaws....016/09/WEC.gif
Therefore, at this year’s WEC, we will be looking at this complex crisis. The inflation will be asset inflation – not demand inflation. So hold on – this is going to be the craziest ride in monetary history of human kind.

Categories: Banking Crisis, Interest Rates, Sovereign Debt Crisis

« Trying to Save Monte Paschi – Oldest Bank in the World

COMMENTS FROM BENJAMINIS: This article by world expert Martin A Armstrong needs to be understood and it really is not difficult to understand. If I ever needed to justify the need for FUNDAMENTAL RESEARCH then this article stands on it's own. You can be 100% sure that the IMF is aware of this most serious problem and in a practical way they have NO SOLUTION.

The conclusion for myself is that as the COLLAPSE comes over the next three years starting on May 1, 2017 then we will first see Asset Deflation.
This means that the wealth effect will start to unwind and all paper Assets will have less value. This will be led by the Equity Markets and then the Bond Markets when Interest Rates start to go up again OVER 3% for the 10 Year US Bonds. Gold should thrive in this environment as will Silver.

Depending how quick things fall apart in Europe with the financial and political issues there is a fair to good chance that the Euro will weaken and go back to parity with the US Dollar which means the US Dollar will then get stronger before it finally collapses into the dustbin of history.

Please involve yourself and post your thoughts and questions that you have.

All that you need to do after reading this article is to be aware of where we are today and where we are going. If for any reason things change then at least we have our road map where we are today on April 20, 2017.

http://www.alt-market.com/articles/2...game-explained

The Economic End Game Explained
Wednesday, 12 November 2014 08:19 Brandon Smith
http://www.alt-market.com/images/sto...%20lorbeer.jpg
Throughout history, in most cases of economic collapse the societies in question believed they were financially invincible just before their disastrous fall. Rarely does anyone see the edge of the cliff or even the bottom of the abyss before it has swallowed a nation whole. This lack of foresight, however, is not entirely the fault of the public. It is, rather, a consequence caused by the manipulation of the fundamental information available to the public by governments and social gatekeepers.


In the years leading up to the Great Depression, numerous mainstream experts and politicians were quick to discount the idea of economic collapse, and most people were more than ready to believe them. Equities markets were, of course, the primary tool used to falsely elicit popular optimism. When markets rose, even in spite of other very negative fiscal indicators, the masses were satisfied. In this way, stock markets have become a kind of dopamine switch financial elites can push at any given time to juice the citizenry and distract them from the greater perils of their economic future. During every upswing of stocks, the elites argued that the corner had been turned, when in reality the crisis had just begun. Nothing has changed since the crash of 1929. Just look at some of these quotes and decide if the rhetoric sounds familiar today:

John Maynard Keynes in 1927: We will not have any more crashes in our time.


H.H. Simmons, president of the New York Stock Exchange, Jan. 12, 1928: I cannot help but raise a dissenting voice to statements that we are living in a fools paradise, and that prosperity in this country must necessarily diminish and recede in the near future.

Irving Fisher, leading U.S. economist, The New York Times, Sept. 5, 1929: There may be a recession in stock prices, but not anything in the nature of a crash. And on 17, 1929: Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months.

W. McNeel, market analyst, as quoted in the New York Herald Tribune, Oct. 30, 1929: This is the time to buy stocks. This is the time to recall the words of the late J. P. Morgan that any man who is bearish on America will go broke. Within a few days there is likely to be a bear panic rather than a bull panic. Many of the low prices as a result of this hysterical selling are not likely to be reached again in many years.

Harvard Economic Society, Nov. 10, 1929: a serious depression seems improbable; [we expect] recovery of business next spring, with further improvement in the fall.


I hear nearly identical statements from pro-mainstream, pro-dollar skeptics all the time. And all of their assertions rest solely on the illusion of the Dow and the dollar index, not to mention statistics that are sourced from the very government that has much to gain by fooling the public into believing all is well.


In 2009, Paul Krugman, perhaps the worst and most famous economist of our age, lamented on the fact that no one in mainstream finance saw the derivatives and credit crash coming. Yet it is the same kinds of manipulative policies that Krugman champions that caused this collective ignorance in mainstream circles to begin with.


What the past proves, time and time again, is that establishment trained and educated economists are perhaps the most useless of all analysts.

They are perpetually wrong. Only independent analysts have ever been able to predict anything of value as far as our economic future not because they are psychic, but because they have the advantage of standing outside the foggy propaganda of brainwashed financial academia.


It also proves that the appearance of prosperity means nothing if the fundamentals do not support the optimism. That is to say, a bullish stock market, a high dollar index and a low unemployment percentage mean nothing if such stats are generated by false methods and fiat.


The fundamentals ALWAYS matter. As we saw during the Great Depression, the markets cannot hide from reality forever.


I relate these points because the future I am about to suggest here might sound outlandish to some, because it is so contrary to the official accounting of our current financial world. It is important to remember that the mainstream, the majority, is almost always wrong and that the truth is very rarely accepted broadly until calamity has already fallen.


I outlined the hard facts behind the reality of economic downturn in my article We Have Just Witnessed The Last Gasp Of The Global Economy.

The bottom line is that the stock market, the greatest false indicator of all time, is on the verge of implosion; and the banking elites are positioning themselves to avoid blame for this implosion while the rest of us are being sold on the most elaborate recovery con-game ever conceived. But what is the purpose behind this con-game? Lies are generally only told by those who hope to gain something through deception. What do the elites hope to gain by creating a facade of recovery?


They have openly admitted to the public on numerous occasions EXACTLY what they want namely, the institution of a truly global and centralized economic system revolving around a highly controlled world currency framework and dominated by a select cult of banking oligarchs. Anyone who claims that this is not the goal is either a liar or an uneducated fool.


I have covered the evidence supporting this program many times in the past, but it would seem with the precariously surreal nature of our world today that much needs repeating. In 1988, the financial magazine 'The Economist' published an article titled Get ready for a world currency by 2018, in which it outlined the framework for a global currency system called the Phoenix (a hypothetical title), administered by the International Monetary Fund by the year 2018, which would erase all national economic sovereignty and require governments to borrow from the world central banking authority, rather than print, in order to finance their infrastructure programs. This would mean total control by the IMF over member nations as they beg and plead for more capital under the global currency umbrella.

http://redefininggod.com/wp-content/...9/ecocover.jpg

If this sounds familiar, it is because I have been warning about the IMF takeover of the global monetary system for at least six years. The Economist actually admits that the Phoenix system would start out in the format of the Special Drawing Rights basket currency:
The phoenix would probably start as a cocktail of national currencies, just as the Special Drawing Right is today. In time, though, its value against national currencies would cease to matter, because people would choose it for its convenience and the stability of its purchasing power


The plan is to introduce a basket currency system as an alternative to the dollar as world reserve, then slowly but surely phase out all sovereign currencies until the basket becomes a currency itself - the ONLY currency. Former World Bank Chief Economist Justin Yifu Lin seems to agree with this ideology, arguing that national currencies must be replaced with a supranational currency, and pointing out that no single currency has the strength to stand alone as world reserve:
"I think the dominance of the greenback is the root cause of global financial and economic crises...The solution to this is to replace the national currency with a global currency..."


I would mention that a "Phoenix" rises from the ashes of calamity reborn. What ashes are the elites expecting the new global currency to rise from?

It is important to note that 'The Economist' is not just any random financial publication; it is in large part owned by the Rothschild banking family and is based out of the London financial center, meaning, The Economist does not have to guess on the economic developments of the future; it has an inside track on exactly what is planned to occur.


You can see my more recent analysis on the IMF global currency scheme here.

A plan for global governance has also been touted by international elites over the years, the roots of which would supposedly begin around 2015. The Gorbachev Foundation, which boasts many American elites as members, has long predicted the rise of a global government. In 1995, the executive director of the foundation, Jim Garrison, had this to say to the San Francisco Weekly:
"Over the next 20 to 30 years, we are going to end up with world government. Its inevitable. It will happen and become just as normal to have a relationship with the rest of the world as we now have, say, if you are a Californian and you go to Vermont."


At the Gorbachev-led State of the World Forum in 1995, Council On Foreign Relations member Zbigniew Brzezinski had this to say:
We do not have a New World Order. We cannot leap into world government in one quick step. In brief, the precondition for eventual globalization genuine globalization is progressive regionalization, because thereby we move toward larger, more stable, more cooperative units.

Regionalization is already occurring as the BRIC nations form their own bilateral trade agreements and their own global bank, and this is by design. The catalyst to trigger the end of the dollar and the dominance of a global currency system, I believe, will be the false East/West paradigm. I have seen an incredible array of analytic interpretations of the macro-economy by multiple mainstream and independent financial writers, but very few of them recognize that the conflict between the West and the eastern BRICS is nothing more than a farce.

I have compiled a considerable profile of evidence on the reality that governments like Russia and China are actually complicit in the formation of a global currency and global government controlled by the IMF. You can see that evidence here, here and here.


China in particular has loudly pronounced a need for a global currency system to replace the dollar, and they have suggested that this system be controlled by the IMF:
The world economic crisis shows the "inherent vulnerabilities and systemic risks in the existing international monetary system," Gov. Zhou Xiaochuan said in an essay released Monday by the bank. He recommended creating a currency made up of a basket of global currencies and controlled by the International Monetary Fund and said it would help "to achieve the objective of safeguarding global economic and financial stability."



China is NOT anti-establishment or anti-new world order, nor is Russia. Eastern opposition to the NWO is a lie. Period. In fact, the BRICS have argued only for greater inclusion in the IMF system and have no intention of developing a legitimate alternative to Western globalization. If you do not understand that the BRICS are part of the NWO, not opposed to it, then you do not understand a thing.


With the BRICS on board with the plan for global currency, what is likely to happen over the course of the next few years if the schedule for an economic reset is on track for 2018?

As I outlined in my last article, the U.S. in particular has been prepped like a sacrificial lamb, with the populace for the most part oblivious to the extent of the threat. Middle-class wealth is being driven into bonds and will be driven more so by market declines, which will progress over the next few months. This herding of capital into bonds is only in preparation for the death of the dollars world reserve status, thus erasing what little savings were left among the common citizenry.


The ceremony initiating our nations fiscal destruction will likely take place in the near term. To achieve global centralization by 2018, the elites would need a serious crisis soon in order to provide the proper collective panic required to generate public consent for global economic governance in four years time.


The first, most important factor to consider is the fake conflict between the IMF and the U.S. Congress over the approval of IMF policy changes agreed upon in 2010. The U.S. has yet to officially sign off on the IMF policy measures that would bring more inclusiveness for developing nations like Russia and China, and this has led the IMF to assert that a move forward without the U.S. is necessary. IMF head Christine Lagarde is now demanding that Congress pass the reforms of 2010; but with the election of a predominantly Republican government, those reforms have little or no chance of being approved.


Lagarde recently joked that she would be willing to "belly dance" to get IMF reforms passed (I would pass them just to avoid the gut churning image of that belly dance), but the joke will ultimately be on the U.S. as IMF heads suggest that if the current Congress does not pass reforms by the end of this year, they will be forced to apply a "Plan B". The details of this Plan B are not public.


It is now highly likely that the IMF will set policy WITHOUT the input of the U.S., as they have warned they would, crippling the assumptions by many that the IMF is somehow a U.S.-owned institution. It is actually the reverse; the IMF is setting the stage for ownership of the U.S. monetary structure, along with the Bank Of International Settlements, which appears to be the capstone of the NWO system.



The next IMF meeting on SDR inclusion is not set, but will probably take place in early 2015. It is expected that China and the Yuan will be officially added to the SDR basket. Gold should also be watched carefully. There is a reason why the BRICS have been accumulating thousands of tons of the precious metal.

The IMF introduction of gold into the SDR basket is inevitable, and a new Bretton Woods style-agreement has already been called for by a number of elites.

The IMF has been openly discussing the ascension of the SDR to replace the dollar as the world reserve currency since at least 2011.

With developing nations already asking for help from the IMF due to volatility caused by the Fed taper and the BRICS well into their own programs to remove the dollar as the world reserve, the only question left is: How will the banks be able to accomplish the currency reset without taking blame for the resulting catastrophe that will no doubt bury the majority of middle-class and poor?



There is no way around it. The elites need a geopolitical disaster so overwhelming that all economic changes taking place in the background go completely unnoticed. They also need to set themselves up as the prognosticators and rescuing heroes in the midst of the coming chaos, as outlined in my last article.

I do not know what that disaster will specifically look like, because there are too many possibilities to consider. Think about this honestly, 10 years ago, would you or your friends and family have ever thought that the U.S. would be at war in Syria with a terrorist organization we created ourselves out of thin air?

That we would be immersed in renewed tensions and the possibility of economic warfare with Russia? That our presidency would have attempted and failed the initiation of socialized healthcare? That our military would be tapped as a possible response force for domestic unrest? That an outbreak of Ebola would be suggested as a trigger for medical martial law?


How many conspiracies have been exposed in just the past few years? How many government crimes have hit the headlines and then disappeared? Benghazi, Fast and Furious, IRS targeting of activists, government-aided illegal immigration, etc. a nonstop parade of corruption that few would have thought possible a decade ago.

We are being boiled slowly, economically as well as politically. We are being conditioned to accept imminent crisis as a way of daily life, to become used to it and to blame these crises on hundreds of various scapegoats, but never the international banks.


And while the Titanic sinks, the band plays on, as mainstream pundits and dupes accuse independent analysts of crying wolf.

The economic endgame is not about collapse alone. Collapse is nothing more than a process that ends abruptly only when public faith is finally lost.

The endgame is about acceptance the acceptance by the masses of a new normal in which financial and political terror become the foundation of daily life.

The endgame is, first and foremost, about the psyche of mankind and its mutation into something unrecognizable. This kind of pervasive conditioning requires immeasurable fear.

Our economic philosophy of sovereign trade and identity cannot be erased without it. The elites have already given us their timeline. The crash of 2008 was only the beginning of the program, and 2014-2015 looks to be the next stage. I have written hundreds of articles on how to prepare and defuse the dangers of the impending reset, but the most important issue of all is that people understand the threat is at their doorstep. Its not a few years off or a decade away; its here now. We are right in the middle of collapse, even if many cannot see it. Watch global developments carefully, as market volatility increases and international conflicts escalate. Time is up.






You can contact Brandon Smith at: [email protected] This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Alt-Market is an organization designed to help you find like-minded activists and preppers in your local area so that you can network and construct communities for mutual aid and defense. Join Alt-Market.com today and learn what it means to step away from the system and build something better.


Silver and Gold are on their way back to historic highs, and now is the time to buy.

COMMENTS FROM BENJAMINIS: My most important COMMENT is in the date that this accurate EXPOSE was written. "Wednesday, 12 November 2014 08:19 Brandon Smith"

The Economic End Game Explained
Wednesday, 12 November 2014 08:19 Brandon Smith

http://www.imf.org/external/np/exr/facts/sdr.htm

SNIPPET:
The role of the SDR
The SDR was created by the IMF in 1969 as a supplementary international reserve asset, in the context of the Bretton Woods fixed exchange rate system. A country participating in this system needed official reserves—government or central bank holdings of gold and widely accepted foreign currencies—that could be used to purchase its domestic currency in foreign exchange markets, as required to maintain its exchange rate. But the international supply of two key reserve assets—gold and the U.S. dollar—proved inadequate for supporting the expansion of world trade and financial flows that was taking place. Therefore, the international community decided to create a new international reserve asset under the auspices of the IMF.


Only a few years after the creation of the SDR, the Bretton Woods system collapsed and the major currencies shifted to floating exchange rate regimes.

Subsequently, the growth in international capital markets facilitated borrowing by creditworthy governments and many countries accumulated significant amounts of international reserves. These developments lessened the reliance on the SDR as a global reserve asset. However, more recently, the 2009 SDR allocations totaling SDR 182.6 billion played a critical role in providing liquidity to the global economic system and supplementing member countries’ official reserves amid the global financial crisis.

The SDR is neither a currency, nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. Holders of SDRs can obtain these currencies in exchange for their SDRs in two ways: first, through the arrangement of voluntary exchanges between members; and second, by the IMF designating members with strong external positions to purchase SDRs from members with weak external positions. In addition to its role as a supplementary reserve asset, the SDR serves as the unit of account of the IMF and some other international organizations.

Basket of currencies determines the value of the SDR
The value of the SDR was initially defined as equivalent to 0.888671 grams of fine gold—which, at the time, was also equivalent to one U.S. dollar. After the collapse of the Bretton Woods system in 1973, the SDR was redefined as a basket of currencies. Effective October 1, 2016 the SDR basket consists of the U.S. dollar, euro, the Chinese renminbi, Japanese yen, and pound sterling.


The value of the SDR in terms of the U.S. dollar is determined daily and posted on the IMF’s website. It is calculated as the sum of specific amounts of each basket currency valued in U.S. dollars, on the basis of exchange rates quoted at noon each day in the London market.


The basket composition is reviewed every five years by the Executive Board, or earlier if the IMF finds changed circumstances warrant an earlier review, to ensure that it reflects the relative importance of currencies in the world’s trading and financial systems. In the most recent review (concluded in November 2015), the Executive Board decided that, effective October 1, 2016, the Chinese renminbi is determined to be freely usable (See Article XXX(f)) and was included in the SDR basket.

A new weighting formula was also adopted in the 2015 review. It assigns equal shares to the currency issuer’s exports and a composite financial indicator. The financial indicator comprises, in equal shares, official reserves denominated in the member’s (or monetary union’s) currency that are held by other monetary authorities that are not issuers of the relevant currency, foreign exchange turnover in the currency, and the sum of outstanding international bank liabilities and international debt securities denominated in the currency.

The respective weights of the U.S. dollar, euro, Chinese renminbi, Japanese yen, and pound sterling are 41.73 percent, 30.93 percent, 10.92 percent, 8.33 percent, and 8.09 percent.

These weights were used to determine the amounts of each of the five currencies included in the new SDR valuation basket that took effect on October 1, 2016. These new currency amounts will remain fixed over the next five-year SDR valuation period (see daily SDR valuation). Since currency amounts are fixed, the relative weight of currencies in the SDR basket can change during a valuation period, with weights rising (falling) for the currencies that appreciate (depreciate) relative to other currencies over time.

The next review is currently scheduled to take place by September 30, 2021.

http://www.zerohedge.com/news/2017-0...ops+to+zero%29

Trump To "Bully" Fed Into Printing Money - Negative for Stocks, Positive for Gold
http://www.zerohedge.com/sites/defau...ture-44273.jpg
by GoldCore
Apr 20, 2017 7:53 AM



Trump To "Bully" Fed Into Printing Money - Negative for Stocks, Positive for Gold
David McWilliams has written an interesting article in which he puts forward the case that Trump is likely to turn on the "enemy within," the Federal Reserve and bully them into "printing money."


He points out that this was seen in 1971 when Nixon bullied the Fed into printing and debasing the dollar. McWilliams says this would be bad for stocks markets which would fall in value as was seen in the 1970s.

This would be positive for gold as the printing of dollars, rising inflation and stagflation saw gold surge in the 1970s when it rose from $35 per ounce in 1971 to over $850 per ounce in January 1980 (see chart). Along the way there was a significant correction when gold prices fell by nearly 50% - very much akin to gold's price falls from 2013 to 2015.

http://www.goldcore.com/news/wp-cont...71-1980(2).jpgGold in USD in 1970s

McWilliams does not expressly say that it is positive for gold but the 1970s, the historical record and the data shows that the printing of money and currency debasement is positive for gold in the long term.

McWilliams writes:
"What happens if Trump bullies the Fed into accepting his higher growth rates which he achieves by boosting government spending and borrowing billions? Could it happen in the first place?


Yes it could. In the 1970s, Richard Nixon bullied the Fed into printing money so that he could win the 1972 election. It can happen because it has happened. This would mean that all the old rules go out the window. American wages would rise much quicker than they have in the past few decades. The average guy will feel richer and then he will be persuaded to vote for Trump again.

Wall Street would wobble and the stock market fall, but the vast majority of people don’t own stocks, so they won’t care. And Trump will get his re-election and the only people who will squeal in the short term are rich bankers and investors on CNBC.


Sounds logical? That’s because it is. The Fed gets put in its technocratic place, the White House spins it as a victory for democracy over technocracy, and the Democratic Party is robbed of its electoral clothes.
From a Trumpian perspective, what’s not to love? That’s exactly why it’s likely."


Full article here When Trump turns on the enemy within — the Fed

Good Day

Hope everyone is doing well.

Here are the charts.
Thank you Benjamin for the articles, will catch up later today.

Looks like Target No. 2 is approaching 109.38

1. https://cdn-assets.forexfactory.net/...ar572167_1.gif eurBESTRADER
2. | New Member | Status: Member | 39 Posts | Online Now

Look how everything lines up
someone posted those triple 7's somewhere but the charts don't lie
Attached Image (click to enlarge)
https://www.forexfactory.com/attachm...1&d=1492689348

 

1. https://cdn-assets.forexfactory.net/...r144719_25.gif geniusztc
2. Joined Jun 2010 | Status: Hello,Mr.Market | 1,776 Posts | Online Now

weekly chart.
50% fibs;
channel line;
support zone.
it's my opinion.

Attached Image (click to enlarge)
https://www.forexfactory.com/attachm...1&d=1492693503
A chart helps those who can read it.

For power and all other purely technical Forex traders.

You cannot PROJECT ANYTHING BY LOOKING AT YOUR CHARTS. YOU ARE CREATING A BIAS FOR YOURSELF AND A FALSE NARRATIVE.

If you really want to trade in the proper way STOP using only the charts. If I had to trade by the charts there is NO POSSIBILITY that I still would be trading currencies. Nothing is FACTORED into the Charts and you can create your own bias by using different time frames as you see in the EUR/USD chart and there is no cognizance of the first round of the French Elections. As for USD/JPY the chart means what it means and if US 30 goes down 250 points then USD/JPY will go down accordingly and all the charts will show is a NEW XRAY at 108.00

Does everyone understand that and if not please share with us what you do not understand or accept ? Thank You...

MONEY FLOW starts shortly so FOLLOW the MONEY FLOW and NOT THE CHARTS. Where were the charts the other day when a new election was called in Britain for June 8, 2017 ?

Hi

I am not just a technical trader.... I understand Price Action....Supply and Demand areas.... Based on what I wrote last week with this projection, you can see it is coming to fruition... I respect all that you have to offer here...thank you.... I am a student just like everyone else... So since this is a money flow room I will listen, learn what you are teaching and will not provide my thoughts as this will be in conflict with this room... Thank you

power

I can assure you and just can see that everyday here KeepCalmfx posts our charts and they include Pivot Points and we also use other indicators in our charts that are very effective. There is no view that you should not post here. The only way we learn is to discuss all aspects of any issues.

As for you being a student there always should be the ability of the student to teach the teacher as KeepCalmfx has done from time to time. We all have our own strengths and weaknesses so we can compliment each other. If you care to please publish your charts here on our thread. We use technical indicators and they are very important however they cannot be used to decide on a Trade Plan or where they will be trading at next week or even next day.. What works so effectively using our Money Flow Trading Method is to develop intelligent realistic Trade Plans as we do and back this up with research and also awareness of what might add to or maybe diminish our Forex trade plan. We trade with the Trend and we use RISK OFF to know that the Trend is moving in our direction while always using Risk Management to protect us against unseen events and also by scaling in our sales or purchases.

KeepCalmfx will refer you to where the instructions are to open your $50,000 US Funds FXCM UK account so that you can learn and apply the lessons that we teach here.

Your technical skills are an Asset to you not a liability so whatever you can contribute is in everyone's interests. We work together as a TEAM here and everyone is EQUAL. We have no bosses and no EGO's except once in awhile we get visitors that do and I will not mention names because KeepCsalmfx taught me to stay positive and I am however if you are curious look who shouted at me on my profile.

Thanks for your reply as it let me express myself.


Benjaminis

http://www.internationalman.com/arti...own-this-month

Turkey Could Start a Global Meltdown This Month
by Nick Giambruno, Senior Editor
https://d24g2nq85gnwal.cloudfront.ne...rs/refugee.gif
2017-04-20 “Give us what we want or we’ll open the floodgates.” Subscribe to International Man


Dozens of renegade commandos in three Black Hawk helicopters swooped in on the president’s holiday residence.


Their mission was to capture him—or more likely, to kill him.

The commandoes engaged in a fierce gun battle with the president’s bodyguards, killing a number of them.

The president, however, was nowhere to be found. He’d been tipped off and made it safely to his private jet, cheating death by mere minutes.

When the renegade soldiers learned of his escape, they commandeered a couple of F-16 fighter jets and sent them to shoot down the presidential jet.

To escape the rebel F-16s, the president’s pilots hid their aircraft’s identity by altering its transponder signal, making it “look” like a civilian passenger jet.

The confused rebel F-16s ran out of fuel and had to land before they figured out what had happened.

This story sounds like something out of a Tom Clancy novel. But it actually happened last summer in Turkey. The failed military coup d’état killed over 290 people.


Today, Turkey is at the epicenter of many crises destabilizing the world…

1. The migrant crisis in Europe
2. The ongoing carnage in Iraq and Syria
3. The battle with ISIS
4. The Kurdish conflict
5. The new Cold War with Russia

Turkey is one giant powder keg, and the fuse is already lit.

When the next global crisis explodes, Turkey—which straddles Europe and Asia—will likely be involved. It has more tripwires for a global meltdown than any other place in the world.

In the coming weeks, Turkey may also play a big role in the collapse of the world’s largest economy.
You see, the EU has harshly criticized Turkey’s response to the failed coup. This has not endeared them to the Turkish government.


It’s actually incredibly stupid. (And by stupid I mean exactly that—an unwitting tendency toward self-destruction.)

That’s because Turkey could quickly and easily flood Europe with more unwelcome migrants.

The migrant crisis is the most explosive political issue on the Continent right now. It played a key role in the Brexit vote. And it’s a political accelerant for anti-EU parties gaining traction throughout Europe, including Marine Le Pen’s Front National party in France.

It’s a simple relationship. The more migrants that arrive in Europe, the more popular anti-EU political parties become, and the weaker the EU gets.
Recommended Link
https://d24g2nq85gnwal.cloudfront.ne...70420imad2.jpg
Will April 23rd be D-Day for the Stock Market?
On April 23rd, a continent-shaking election will take place in France. And, if one specific thing results, it could bring about the total destruction of the European Union, the largest single economy in the world. Don't let this disaster affect your wealth – here's the full story on how to prepare...
--
This is where Turkey holds the key to the EU’s future…
Turkey is a major transit point for migrants headed to Europe. The Turkish government doesn’t want these migrants to stay in Turkey. So it has little reason to stop them from leaving for Europe.

This gives Turkey leverage with the EU. The Turks have essentially said, “Give us what we want or we’ll open the floodgates.”


What the Turks want is a lot of money.
Last year, Brussels partially gave in to the blackmail—to the tune of $6 billion. In return, the Turks agreed to stop migrants from illegally entering Europe.

This arrangement worked for a while. But recent tensions between the EU and Turkey have reached a boiling point.

The Turkish government has warned the EU. If Brussels walks away from its part of the deal, the Turks will, too.

Specifically, the Turkish government has threatened to flood Europe with migrants… just in time for France’s presidential election on April 23.


This election could lead to the end of the euro and the EU itself. Ultimately, it could trigger a global financial meltdown of historic proportions.


The Financial Times explains what could happen if an anti-euro populist party wins and causes the collapse of the EU:
It would probably lead to the most violent economic shock in history, dwarfing the Lehman Brothers bankruptcy in 2008 and the 1929 Wall Street crash.


If Turkey sends a new wave of migrants into Europe just before this key election, it will help seal the EU’s fate.

Doug Casey and I (Nick Giambruno) went to Turkey not long ago. It’s the latest of many spots we’ve visited with literal blood in the streets.


We put our boots on the ground in the same area where rebel soldiers nearly assassinated Recep Tayyip Erdogan, the Turkish president.

I think there’s a good chance Turkey will flood Europe with migrants before France’s April 23 election. This would virtually ensure an anti-EU win in France—and kill the EU itself… triggering an unprecedented global financial crisis far worse than 2008.

Of course, when there’s a crisis—especially one this catastrophic—most people only see danger. But Doug Casey and I see opportunity.


Comments from Benjaminis: We can now all see from the research posted here another thing that we need to be aware of just in case it happens. There are many parts to becoming a professional Forex retail trader and it takes KNOWLEDGE and EXPERIENCE.