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I think a lot of the selling at the end of the day was just because tomorrow is Good Friday and people don't wanna get caught w/ their pants down over a long weekend given geopolitical risks right now. Nothing else really happened besides a few banks being off on earnings.

Yeah, I was gonna split allocation w/ CEF but decided screw it, like to gamble.

TSLA very green today. See Musk said buy ford if you're worried about us? Gotta love the swagger atleast.
 

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https://www.youtube.com/watch?v=HwCaFyglAgQ

Schiff can be a bit much sometimes but this was today on Futures Now. Thought he took apart the other guys pretty good. I listened to his podcast sometimes, ffwd the boring/useless parts.

Lol @ media in general though. The blonde anchor asking him if he likes what Yellen is doing, I'd be like "Do you know who the fuck I am? Ask me a real question." Think his opinions on the fed are pretty out in the open at this point.
 

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Auto bubble popping..

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[h=1]Retail Sales in U.S. Declined for a Second Month in March[/h]April 14, 2017, 8:30 AM EDT
Sales at U.S. retailers declined in March for a second month, hurt by fewer purchases of automobiles, Commerce Department data showed Friday.
[h=2]Key Points[/h]• Value of purchases fell 0.2 percent (in line with median forecast) after February sales were revised to a 0.3 percent decrease (previously reported as a 0.1 percent gain)
• Retail control-group sales, which are used to calculate GDP and exclude the categories of food services, auto dealers, building materials outlets and gasoline stations, rose 0.5 percent after falling 0.2 percent





• Over the last three months, retail control-group sales increased an annualized 4.1 percent, compared with 3.8 percent at the end of last year
[h=2]Big Picture[/h]Sales declined in six of 13 major retail categories in March. While household outlays are projected to cool in the first quarter, steady hiring, healthier household balance sheets and more optimistic consumers will probably underpin spending. A confidence report Thursday showed a favorable buying climate for big-ticket items.
Tax refunds, which had been delayed earlier this year, may help provide more wherewithal for consumers in the months ahead.
The report also helps explain why retailers have been cutting jobs this year and closing stores, with Internet sales outpacing purchases at brick-and-mortar merchants.
[h=2]Economist Takeaways[/h]“Delays in the issuance of tax refunds may have depressed spending even beyond what may be seasonal norms,” Daniel Silver, an economist at JPMorgan Chase & Co., said in a research note before the report.
[h=2]Other Details[/h]


• Purchases at auto dealers decreased 1.2 percent in March after a 1.5 percent drop; industry data showed sales of cars and light trucks fell to a 16.5 million pace, the slowest in more than two years
• Receipts at gasoline service stations fell 1 percent in March; the retail figures don’t reflect changes in prices
• Retail sales excluding autos were little changed for a second straight month
• Sales at building materials outlets fell 1.5 percent
• Purchases at non-store retailers rose 0.6 percent for a second month, while sales at general merchandise stores rose
0.3 percent
 

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[h=1]"Reflation" Is Official Dead: Core CPI Tumbles For The First Time In Over Seven Years[/h]The reflation trade is officially over.
At the same time that retail sales posted the worst 2 month drop in 2 years, CPI - the bedrock behind the Fed's rate hiking intentions - just hit a brick wall, and after months of headline CPI growth mostly the back of the energy "base effect", in March this ended with a thud, when headline CPI printed at -0.3%, badly missing expectations of an unchanged print. The number was so bad, all 79 economist estimates missed the number (predicting a -0.2% low).

The biggest driver for the headline plunge was energy, which declined 3.2%, with the gasoline index falling 6.2%, and other major energy component indexes decreasing as well. The food index rose 0.3 percent, with the index for food at home increasing 0.5% its largest increase since May 2014.
But the real story was in the core numer, because CPI ex-food and energy dropped -0.1%, another huge miss to the +0.2% rise expected, and also the first - and worst - decline since January 2010.

Among the core components, the shelter index rose 0.1 percent, and the indexes for motor vehicle insurance, medical care, tobacco, airline fares, and alcoholic beverages also increased in March. These increases were offset by declines in several indexes, including those for wireless telephone services, used cars and trucks, new vehicles, and apparel.
More details from the report that will likely assure that Yellen will not be hiking rates for a long time:
The index for all items less food and energy declined 0.1 percent in March. The index for communication fell 3.5 percent as the index for wireless telephone services decreased 7.0 percent, the largest 1-month decline in the history of the index. The index for used cars and trucks continued to fall, declining 0.9 percent in March, and the new vehicles index decreased 0.3 percent. The apparel index declined 0.7 percent in March after rising 0.6 percent in February.
The shelter index rose 0.1 percent in March, its smallest increase since June 2014. The rent index rose 0.3 percent and the index for owners' equivalent rent advanced 0.2 percent, but the index for lodging away from home fell 2.4 percent. The medical care index increased 0.1 percent in March, as the index for hospital services rose 0.4 percent, the index for prescription drugs was unchanged, and the physicians' services index declined 0.3 percent.
The index for motor vehicle insurance continued to rise, increasing 1.2 percent in March. The index for tobacco rose 0.5 percent, the airline fares index increased 0.4 percent, and the index for alcoholic beverages rose 0.2 percent. The indexes for recreation, for education, and for household furnishings and operations were unchanged in March.
Even Shelter inflation is now rolling over:
shelter%20inflation%20april%202017_0.jpg

Incidentally, just moments after Trump's flip-flop on the USD and on rates, now looking for lower rates instead of higher under advice of his ex-Goldman counsel, it became clear that the US economic data would have to decline sharply in the coming months to grant his wish, and to stop the Fed from hiking further, which is why we said the following:

And sure enough...
Now we look forward to Wall Street U-turning alongside Trump, and explaining how they were all only kidding about rising rates being good for risk assets, and what they really meant was the only QE4 can fix the economy.
 

bushman
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I wondered what Trump was doing. It all seemed so weird, but no longer.

Trump isn't attacking Syria with massed waves of Tomahawks and MOABS

Trump is telling China what's going to happen to North Koreas sensitive missile and Nuclear installations if they don't stop jacking about

Okay, as you were, nothing to see here folks, move along move along
 

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I wondered what Trump was doing. It all seemed so weird, but no longer.

Trump isn't attacking Syria with massed waves of Tomahawks and MOABS

Trump is telling China what's going to happen to North Koreas sensitive missile and Nuclear installations if they don't stop jacking about

Okay, as you were, nothing to see here folks, move along move along

NK a wee bit more complicated affair

its push all in or nothing..

NK can unload on seoul at moments notice .. even if we were to push all in would be masssive casualties in South Korea..

my guess is the crazy bastard does some nuke tests and says whatcha gonna do.. should find out soon..

tyrants love saber rattling from afar..
 

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Even the most powerful non-nuclear weapons in the U.S. arsenal cannot guarantee the destruction of North Korea’s nuclear bombs and will likely trigger a massive retaliatory attack from Pyongyang on South Korea, killing millons of people, American experts and former U.S. officials say. And as American warships gathered in the area, China and Russia warned both sides not to let the situation spiral out of control.
The Pentagon has deployed two Navy destroyers with Tomahawk cruise missiles just 300 miles from the North Korean nuclear test site, and the U.S.S. Carl Vinson aircraft carrier strike group is being diverted to the area, according to news reports. American heavy bombers are also positioned in Guam to attack North Korea if so ordered. During a joint military exercise in March, U.S. and South Korean forces carried out a simulated decapitation strike to take out Pyongyang's leadership.
Related: Dear Barack Obama, Kim Jong Un Wants to Talk
North Korean dictator Kim Jong Un, who has hinted at testing another nuclear weapon on Saturday, has warnedWashington it might strike the United States first with a nuclear weapon if threatened with elimination by the Donald Trump administration.
Officials and experts who have dealt with North Korea say threats from Washington will only stiffen Kim’s resolve to expedite the production of nuclear weapons and intercontinental missiles capable of carrying them. They envision a nightmare scenario in which Kim, under pressure, unleashes tens of thousands of artillery shells on South Korea’s capital of Seoul, only 35 miles from the North Korean border, while protecting his nuclear weapons in underground facilities.
"Just verbally threatening a dangerous pre-emptive strike endangers the 28,500 U.S. troops in Korea, and literally keeps me up at night,” says James Faeh, who was the Pentagon’s country director for North and South Korea in the Barack Obama administration. “There is no chance we can be 100 percent sure of our ability to take out Kim’s entire nuclear and missile arsenal in a single decapitation attack.”
China and Russia also weighed in as war clouds gathered over the Korean peninsula. Beijing’s foreign minister Wang Yi warned both Washington and Pyongyang to not “push the situation to the point where it can’t be turned around and gets out of hand.” A Kremlin spokesman, Dmitri S. Peskov, called on“all the countries to refrain from any actions that could amount to provocative steps.”
Many observers saw the U.S. use of the “mother of all bombs” in Afghanistan against a suspected unit of Islamic State militant group (ISIS) fighters on Thursday as a warning shot against Kim not to test another nuclear weapon. While the MOAB (which stands for Massive Ordnance Air Blast) device was the largest non-nuclear weapon to be used in combat, it’s not likely to be the first choice of Pentagon planners should they go after North Korea’s underground nuclear arsenal. That would be the MOP, or Massive Ordnance Penetrator bomb, which was invented to hit Iran’s underground nuclear facilities.
“The MOAB and the MOP would be extremely effective against known North Korean nuclear and missile sites,” Gary Samore, the White House Coordinator for Arms Control and Weapons of Mass Destruction in the Obama administration, tells Newsweek. “The problem is that we don't know where all such sites are.”
Matthew Bunn, an eminent weapons scientist who worked on nuclear issues in the Bill Clinton administration, agrees with Samore. “Those above-ground facilities are quite familiar. The big problem is we don't know where the heck their bombs are.”
Bunn, now a professor at Harvard University’s John F. Kennedy School of Government, adds that North Korea also probably has a secret additional enrichment facility that the Pentagon hasn’t located, “so MOPs don't help if you don't know where to put them.”
But the first challenge in using the weapons is just getting them close enough to North Korea without them being shot out of the sky. “They need to be airlifted by cargo planes, which are easy targets for [North Korean] air defenses,” says Michael Krepon, a weapons expert and co-founder of the Stimson Center, a non-partisan policy research center in Washington, D.C.
“The other problem is that an attack on North Korea's nuclear and missile sites would probably trigger a general Korean War,” says Samore. In the opening chapter, Seoul would likely be obliterated by North Korean artillery.
“Unless you can move Greater Seoul and its 28 million people—including some 80,000 Americans on any given day—the risks far outweigh benefits of an pre-emptive strike,” says Robert A. Manning, who has worked on Asia issues at high levels for the departments of State and Defense and the Director of National Intelligence. “Remember that North Korea is not Syria.” U.S. attacks on Serbia, Iraq and Libya, he adds, “are a good part of the reason why Pyongyang want nukes as an insurance policy.”
When Seoul’s Yonhap News Agencyreported in March that the joint U.S.- South Korea exercises underway included “decapitation raids” by special forces targeting Pyongyang’s leadership, a U.S. spokesman declined comment “for operations security reasons.” Many analysts interpreted that to mean the Trump administration was considering such options along with cruise missile strikes and MOP and MOAB drops on North Korea’s nuclear and missile facilities—as well as its leader’s residence. More recently, on Twitter, President Trump vowed to “solve the problem” of North Korea with or “without China’s help.”
Faeh, the former Pentagon official in charge of Korea issues, despairs at such talk, which he calls “invaluable propaganda for [Kim] to say to his people: ‘See, the Americans are evil and threatening us. You need me and my nuclear and missile programs to protect you.’
"Seeing these dangerous statements on pre-emptive strikes from the Trump administration quite literally keeps me up at night,” he says. “Knee-jerk reactions leading to escalation is not a viable long-term strategy to keep us safe." On Wednesday April 14, all the leading candidates in South Korea’s upcoming presidential election came out against a pre-emptive U.S.strike on North Korea.
Manning, now a senior fellow with the Brent Scowcroft Center on International Security at the Atlantic Council in Washington, says everybody needs to look past the current, overheated rhetoric.
“Perhaps the only virtue of North Korea,” he says, ”is that they are not suicidal, and deterrence has worked.”
 

bushman
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Chinese state broadcaster CCTV reports that the (Chinese) government will suspend direct Air China flights between Beijing and Pyongyang from Monday 17 April.

http://www.bbc.co.uk/news/world-asia-39600426

In other words, the US has informed China that any aircraft in the air from Monday could be at risk from US action

The only what-if now is the starting gun, which I presume will be this upcoming nuclear test North Korea has been touting
 

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Hopefully Kim is a paper tiger. I still feel like it won't escalate, maybe that is because there hasn't been any large scale nuclear destruction in our lifetimes but just feels like a lot of this is just chest puffing.
 

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Just wait till the current bubble pops with trump in charge.. no telling what he will do..
 

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Actually I should rephrase that.. no telling what the right wing neocon pro military industrial complex will do.. trump is now a yes man puppet of the status quo establishment..

After the rough start trying to do it his way with the heavy banning influence .. trump now = dubya bush
 

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I hate to even ask this but if Japan got hit, the economy/market would be fucked bad right? Their GDP is 28% the size of the US, them and Seoul and you are talking 33%.

These aren't irrelevant Middle Eastern countries with nothing but oil. And the destruction would be quite a bit worse.

I think ultimately nothing happens but it is kinda crazy how cavalier everyone is about it because there just isn't much recent history with this type of standoff.
 

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NK tests missile but it failed.. probably unplanned/moved up cause we decided to flex our muscles.. now ball back in trump/military industrial complex court..

Hard to say the economic fallout and yeah how it played out would have a role

but generally speaking wars are bullish for global economy.. as it gives governments reason to debt and spend to blow things up.. and also to build/rebuild..
 

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Divide and conquer alive and well.. dems and republican like Shia and Shiite in the ME.. the have not dems and republicans not killing each other yet .. cause economically they way better off than the have nots in Me.. for now that is..

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[h=1]Pro-Trump, anti-Trump protesters clash in Berkeley[/h][COLOR=rgba(0, 0, 0, 0.65098)]
170415161642-berkeley-protesters-01-exlarge-169.jpg
[/COLOR]
(CNN)At least 13 people were arrested as pro-Trump and anti-Trump protestors clashed Saturday at a park in Berkeley, California, police said.

"A large number of fights have occurred and numerous fireworks have been thrown in the crowds," Berkeley police said in a statement. "There have also been numerous reports of pepper spray being used in the crowd."
CNN affiliate KPIX reported that Trump supporters planned a "Patriot Day" rally at noon and counter-protesters showed up a few hours earlier.
170415161642-berkeley-protesters-01-large-169.jpg
Fights broke out Saturday during pro- and anti-Trump protests in Berkeley, California.




Hundreds of people had gathered in Civic Center Park. Police set up a barrier of orange mesh fence to separate the two sides but it quickly fell down as protesters started fighting, KPIX said.
Video showed crowds spilling into nearby streets. Scuffles broke out, fireworks, bottles and traffic cones were thrown into crowds and dumpsters and trash cans were hauled into streets. One man set afire a red "USA" hat and held it overhead.
Police donned gas masks as they used pepper spray on the crowd. A Berkeley station for BART, the mass transit system, was shut down because of the disturbance, CNN affiliate KRON said.
Police said they confiscated prohibited items including hand-held flagpoles, a knife, a stun gun, helmets and signs, and flags attached to poles, KRON reported.
Video showed apparently injured people but no details on the number of injuries was available.
A police officer was treated and released from a hospital after someone threw either pepper spray or tear gas into the crowd, said Berkeley police spokesman Byron White. He added that a person in the crowd was treated and released after being sprayed with "bear spray," an irritant spray used to deter aggressive bears in wilderness areas.
An even larger protest erupted in February when people took to the streets to protest an appearance by right-wing commentator Milo Yiannopoulos at UC Berkeley. The university said more than $100,000 in damage was done. In early March, 10 people were arrested when pro- and anti-Trump groups fought in Berkeley.
Protests were held in dozens of cities across the United States on Saturday for the anti-Trump "Tax Day," but the Berkeley rally was about free speech, according to local news reports.
170415162407-01-berkeley-brawl-0415-large-169.jpg
 

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Tiz why do you think BTG can hit double digits when the last time gold approached 2k it only hit around $4.20ish per share?

Seems like the highs the miners made in the 2011-2012 period isn't much higher than they are worth now.
 

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Gdx (etf basket of the big miners) hit a high of 65 in 2011 currently at 25

so miners overall nowhere near the highs when gold was near 2k..

btg better managed, profitable right now, and grew its production greatly last 6 years so fairing better than most
 

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Also now that I look btg currently not near its 2012 high of 4.50 either..
 

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One thing I've read, Schiff has said and you have said is that there are tons of mismanaged company in the mining space. So wouldn't that make ETF's not as good since it is just a basket of names? Or is that just an issue with junior minors and the ETF majors are pretty much fine as far as management goes? Seems like tons of BS goes on in gold space from what I've read.
 

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