The 2020 World Expo will be hosted by Dubai. This old video shows Putin speaking in English and pitching for Russia to be considered as a host for the World Expo.

Obama reignited the Cold War instead of giving Russia the respect it was demanding. It is all about respect and recognition, which is what we often call national pride. When things go wrong economically, it is national pride that leads to war.

Ukraine should have simply been divided along ethnic lines by language, and the East should have joined Russia since they saw themselves as Russian. Instead of spending all this money on war, there should have been an orderly buy-out of those who wanted to move sides. That would have ended the crisis. The current view of borders was drawn by old politics and is rather absurd. In the end, the borders will be redrawn once again.

Obama went to London at the request of David Cameron and the EU Parliament. Obama joined the scare tactics in an attempt to frighten the British into giving up their sovereignty to Brussels. He used the TTIP trade deal, which the French want to block, and said the agreement is why the Brits should stay in the EU. The TTIP was supposed to be done back in 2014. There is little chance of an agreement coming before 2019 (if at all). Obama told the British to get to the “back of the queue” on trade agreement negotiations if they leave the EU.

There is no way Obama would do this without the request of Cameron who is betraying the sovereignty of his own country. The reality is that Obama is lying to the British people because the trade agreement with Europe has been a huge problem, especially with France. The truth is that Britain would be able to have a faster trade deal with the USA than the EU. This is a scare tactic because Europe itself is on the ropes. Britain leaving would hurt Europe, not Britain, and would save Britain as they could then protect their own borders. Even the USA now has a problem with visas for Europeans given the security risk they introduced after admitting economic migrants who claimed to be refugees.

This demonstrates how the BREXIT vote is a serious issue for Europe as a whole. Make no mistake about it, the USA would NEVER surrender its sovereignty to the United Nations or turn Congress into a second-rate gathering with little power. The majority of laws in Europe come from Brussels, not local government, which is similar to how the majority of laws in the States are Federal. What Obama just told the British people demonstrates that this is precisely opposite of what Margaret Thatcher stood against — the political surrender of the British to Brussels. What Hitler could not do with bombs, Cameron handed to Europe without a thought.

Why has Obama told the British to effectively get rid of the Royal Family? Should there be no residual sovereignty remaining in Britain but ceremonial? Upon election, the Prime Minister goes to the queen to ask permission to head Parliament. It is the queen who opens Parliament. The queen’s speech sets out the government’s agenda for the coming session. Handing power to Brussels nullifies the role of the queen. Why has Cameron not asked the queen?

Without Britain, there is no European Union left standing. Europe is absolutely doomed for Draghi will not reverse his policies that are starting to lead to chaos within the EU, and Germany realizes that Draghi’s policies are destroying pensions and the elderly.

Protests erupted after Obama told the Brits to get at the “back of the queque” for a trade agreement. As Obama visited Britain, thousands were protesting against TTIP in Hannover, Germany. It may be a very good thing if Britain goes to the “back of the queque.” Obama is full of shit for there are far more links between Britain and the USA on trade than there are with Europe as a whole.

Abenomics (アベノミクス Abenomikusu) in Japan are the economic policies advocated by Shinzō Abe since the December 2012 general election, which elected Abe to his second term as Prime Minister of Japan. Abenomics is based upon “three arrows” of fiscal stimulus, monetary easing, and structural reforms. This has been a complete failure as the economy continues to implode. The Bank of Japan hinted possible proposals to take rates even further negative and the likelihood of banks passing these levels on to the general public.

The dollar rallied against the yen right on target for 43 months (8.6 / 2) and has declined for about 8.6 months from the high in June of 2015. It appears to be on target, and the latest suggestion of further negative rates being passed on by the banks will most likely cause a flight from the yen. This has also contributed to the Dow Jones Industrial Average rising and holding last year’s low distinct from the S&P 500 and NASDAQ.

We are still waiting for the link from the Hotel for the room block which includes the special pricing that will be available for attendees. We will perhaps switch the first two days so the Institutional session comes first so those attending the weekend who would like to attend the Technical Analysis Training Course will have 3 days together.
This year, we will include a proprietary tablet for all attendees which you can take home with you. We will include workshops and this year will be FORECASTING only. The introductory session will be provided separately for all attendees to review in advance of the conference.

Airfare to Orlando is generally far cheaper than most cities because it is a tourist destination since everyone wants to see Mickey. We wanted to get this out ASAP for those who might want to bring their families.

We should have the links up this coming week as soon as we get them from the hotel.

COMMENT: Hi Marty! I just wanted to say thanks for everything you've been teaching us. 
I've been following you for over a year and reading your blog daily. 
While I don't have the financial ability to buy your reports or participate 
in the markets I do have the knowledge. 

Thanks again and Carpe Diem!!
Jason

REPLY: This is not all about markets. There is a huge social impact. 
The markets show us the door to the future trend, but the trend is the driving force behind society. 
It is the economics that will dictate the future of society. 
So will we be free or dominated? That is the question. 
So the more we can do to help as many people understand the changes, 
the better we are prepared to put on the good fight.

A little overdue but today we heard from the Bank of Japan and possible proposals to take rates even further negative and the likelihood banks passing these levels on to end retail. The Nikkei obviously liked it rallying 1.2% on the day whilst the Yen weakened over 2%. Both the Shanghai and HSI had mixed responses as most continue to talk Japan. The Nikkei’s rally was a great effort considering Mitsubishi Motor stock fell over 13% again today (after a 20% decline Thursday) after they admitted cheating on fuel economy test results.

Auto’s were the focus in Europe too with falls from both Daimler and Volkswagen. Dealer were hoping fresh data releases would help them out but unfortunately the better than expected data proved insufficient and actually added to the stocks declines. With the exception of IBEX (+0.4%), rumoured to be supported by the additional capital injection via the ECB accepting more corporates paper, all core indices were down DAX -0.6%, CAC -0.3% and FTSE -1.1%.

The US saw futures trading lower even before cash opened. We saw the lows hit around mid-morning then managed an impressive rally especially given a core stock (Microsoft -7.17% on missed earnings). Data failed to offer support after the U.S. Manu PMI fell to 50.8 from 51.5 seen in March. However, ahead of the weekend the DOW did offer some encouraging signs closing up on the day and above the key psychological 18k level.

Gold had a very poor day today dropping over $20 to close $1233 (-1.6%), having seen an earlier low of $1227. Silver also saw a large turnaround dropping from the days high of $17.34 to a low seen of $1690. DXY again moving better closing 95.95 (+0.55%).

In the Bond market US curve steepened 1bp with 2/10 trading +107bp. US 10’s closed 1.89% with the German 10yr Bund closing 0.23% closing the spread at +166bp. Italy 10yr closed 1.47% (+1bp), Greece 8.21% (-26bp), Turkey 8.97% (-1bp), Portugal 3.26% (+8bp) and Gilt 10yr closed 1.60% (+1bp).

Tensions are starting to rise between Germany and the ECB because Draghi will not admit his negative interest rates are causing an economic meltdown. “We continue to expect them (interest rates) to remain at present or lower levels for an extended period of time, and well past the horizon of our net asset purchases.” Draghi is absolutely clueless and this experiment has no end game. The rest of the central banks are starting to see that Draghi is risking it all for he cannot admit failure. Inflation is a function of interest rates insofar as the rate of interest is compatible with the expected rate of inflation. This is fundamental. Punishing savers and wiping out pensions is not the way to create a future. This will not end very nicely.

All Draghi is doing is making the smart banks richer. They don’t have to pay anything, but they charge people money for having an account. Yet, if you want to take out a mortgage for 10 years, fully collateralized, they demand 5%. The smart bankers are making the widest spreads in history on a percentage basis between bid and ask. Is Draghi insane? Or is he simply looking at this from the perspective of his former employer — Goldman Sachs?

Herbert Clark Hoover (1874 – 1964) was the 31st President of the United States (1929–33). He was elected on Tuesday, November 6, 1928, and took office in 1929. He was blamed for 1929 although he was not its cause. Whoever wins this year’s Presidential election will be blamed for what the establishment has caused. People have asked if I support Trump. From a realistic perspective, if we were not facing what we face, I would prefer someone in there as a check and balance against the establishment. From a practical perspective, I would prefer Hillary for she deserves the legacy of what lies ahead.

Another example how everything runs in cycles, this year will be the 17-year cycle when the cicadas make their appearance. It will be noisy for about a month, then they mate and die.

401K is a Private Retirement Fund under US Law

QUESTION: Martin,

I’m still fairly young, so I don’t have a lot saved in my retirement accounts yet, but I’ve been maxing out my IRA for the last few years to get the tax deduction. I worry because I’ve heard you and others talk about congress wanting to steal our 401k and IRA accounts to “save” social security and/or state pension funds. Do you think that is likely to happen, and will we have time to liquidate our retirement accounts before they steal them? What should we watch out for that would indicate congress is getting ready to move on our accounts?

I am not a lawyer, but I imagine this would take an act of congress to accomplish. Do you think something like this would be a swift action where they just seize them outright, or a gradual change through a combination of penalties and incentives that get people to move their money from private retirement accounts to a government one? If you were going to nationalize everyone’s retirement accounts, how would you do it?

Thanks for all you do,

Dave

ANSWER: I am very cautious about what I say. I never speak in speculation or hype. The markets have taught me that humility is the best course of action. So I will state bluntly when I know something to be a FACT. I try to be responsible and this is why I never comment on anyone else’s forecasts or even care to know what they say. I will respond to emails but will omit names. I am not here to be some politician who says the other guy is a piece of shit. I am not endorsing what anyone else has said about 401Ks.

So on this subject, it is a VERY SERIOUS ISSUE. I have reported on “lobbying” efforts that have been taking place behind the curtain from my direct sources. There are states looking for Congress to create some sort of mandatory contribution that would take from people’s private savings to bail out state workers. Nothing has been decided as of yet. However, I would expect this to become more forceful next year when Social Security goes bust.

We will be doing a special written report on this topic with suggestions that will not be provided on the blog. We are investigating alternatives right now. Far too many people read this blog and we do not require registration to enter the site. So this is economic freedom for all, but the price of that is opponents reading the blog as well. So it is best to make such recommendations off the blog so the whole world does not catch wind of this possible solution, which should be for clients only.