More stock market wealth was lost on Friday than on any other day in world history. As you will see below, global investors lost two trillion dollars on the day following the Brexit vote. And remember, this is on top of the trillions that global investors have already lost over the past 12 months. It is important to understand that the Brexit vote was not the beginning of a new crisis – it has simply accelerated a global financial crisis that started last year and that was already in the process of unfolding. As I noted on Friday, we have been waiting for “the next Lehman Brothers moment” that would really unleash fear and panic globally, and now we have it. The next six months should be absolutely fascinating to watch.
According to CNBC, the total amount of money lost on global stock markets on Friday surpassed anything that we had ever seen before, and that includes the darkest days of the financial crisis of 2008…
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As you read this article, the state of California is being ravaged by gigantic wildfires that are raging wildly out of control, and West Virginia is dealing with a “500 year flood”. Since last September, the U.S. has been hit by a series of 11 historic floods. Never before in American history have we seen so many major floods within such a compressed space of time. And just as the Shemitah year ended last September, massive wildfires began erupting all over the country. Thanks to that unprecedented outbreak of large fires, 2015 ended up being the worst year for wildfires in all of U.S. history. And since 2016 began, things have continued to get worse. As far as the total number of acres burned is concerned, we are more than a million acres ahead of the pace that was set last year. So why in the world is all of this happening?
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Has the next Lehman Brothers moment arrived? Late Thursday night we learned that the British people had voted to leave the European Union, and this could be the “trigger event” that unleashes great financial panic all over the planet. Of course stocks have already been crashing all over the globe over the past year, but up until now we had not seen the kind of stark fear that the crash of 2008 created following the collapse of Lehman Brothers. The British people are certainly to be congratulated for choosing to leave the tyrannical EU, and if I could have voted I would have voted to “leave” as well. But just as I warned 10 days ago, choosing to leave will “throw the entire continent into a state of economic and financial chaos”. And “Black Friday” was just the beginning – the pain from this event is going to continue to be felt for months to come.
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Nigel Farage, the British politician who heads up the UK Independence Party, says President Barack Obama’s calls for voters in the country to reject a push to leave the European Union likely helped the Brexit cause.
During an interview with Breitbart News Daily on Sirius, Farage said political opponents of the British split with the EU just learned a “really big lesson.”
“Don’t threaten people repeatedly,” Farage said. “Because if you do… they just stop believing you.
“We had that from our politicians and our chancellor, ‘you know, if you vote this way you’ll be poorer, terrible things will happen,’” Farage added.
The UKIP head said that Obama’s foray into British politics pushed many people in the country who were on the fence to vote for the Brexit.
“When Obama came it was project threat,” Farage said. “Threatening people too much insults their intelligence.”
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Democrats frothing at the mouth to make it more difficult for some Americans to exercise their 2nd Amendment rights are pushing extremely racist notions by way of the no fly/no buy gun bill.
And that’s not according to me or other conservatives—it’s the opinion of liberal critics of the Democrats’ new favorite anti-firearm legislation.
Alex Pareene, editor of the left-leaning news gossip website Gawker, recently scolded Democrat lawmakers in a column on the site for blindly supporting “a measure that isn’t just ineffective but also actively offensive.”
The problem, according to the author, is one that critics of the government’s flawed terror watch lists have been pointing out for years.
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With the first third of the year behind us, let’s take a look at how different assets have performed so far in 2016. It has been a wild ride, but some trends are becoming apparent.
The dominant theme, as has been the case for several years, is that central banks rule and roil the markets. The Federal Reserve and European Central Bank don’t have to take significant actions any more. They move markets and business behavior by making carefully worded statements.
Currencies are what the central bankers most want to influence. Most now want to cheapen their own currencies relative to others. That’s been good for gold. It has been the main insurance against central bank mistakes. After a bear market in gold since 2011, the precious metal is up more than 20 percent so far this year. The dollar’s down against most major currencies, but many emerging economy currencies are appreciating.
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Private Twitter exchanges obtained from #BlackLivesMatter leader DeRay McKesson’s hacked phone seem to indicate that Attorney General Loretta Lynch is at least passively participating in the upcoming “Summer of Chaos” aimed at shutting down both the Republican and Democrat National Conventions in July.
By shutting down conventions and creating chaos into November, #BlackLivesMatter activists want to so disrupt the process that President Barack Obama has an excuse to implement martial law and cancel the election.
An exchange between McKesson and #BlackLivesMatter activist Samuel Sinyangwe revealed this:
@samswey: I wanted to touch base with you about the summer of chaos. So far we have 2,000 people being bused in from different cities and another 6,000 to 8,000 expected to drive into Cleveland for the convention.
@samswey: They will not be ready for the type of crowds we are bringing in and they will blame Trump for it, especially if we shut it down. The GOP will have to replace him at that point or we will continue the disruptions nationwide.
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