Oil Markets Brace For Another Hurricane

Oil prices fell from last week’s highs as investors pocketed gains. Not all hope is lost, however. Saudi Arabia and Russia just announced some promising news regarding the rebalancing of the oil markets.  Friday, October 6, 2017 (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge)Friday, October 6, 2017 Oil prices were soft this week as concerns about oversupply resurfaced and investors pocketed gains from the recent bull run. But positive comments from Saudi…

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Fed’s Kaplan: It’s likely inflation pressures are building

Fed’s Kaplan in a moderated Q&A
– Fed has benefit of having a bit of time to decide about Dec hike ‘and I plan to take it’
– It’s likely slack will continue to come out of jobs market
Kaplan will take questions from the audience and media later. He already spoke to financial TV today. Tough to imagine

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Australian Government Faces Scrutiny Over New Facial Recognition Measures

TheMerkle Australa Mass SurveillanceAny new proposal signed by politicians related to facial recognition technology will be met with a lot of scrutiny. Consumers are slowly becoming more privacy-aware, which means they will not respond kindly to any invasive measures whatsoever. Australian prime minister Malcolm Turnbull has claimed his country’s automated face-matching regime under anti-terrorism rules will not invade individuals’ privacy. His country’s citizens are hardly convinced that is the case, though. Australia Sets a Disturbing Facial Recognition Precedent No one should be surprised to learn that the Australian population is not too pleased with the new set of rules put together by the government. Under these new guidelines,

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Operation ‘Moron Overboard’ Begins

Authored by James Howard Kunstler via Kunstler.com,

War, children,
It’s just a shot away
It’s just a shot away
— You Know Who

Grinning like Wonderland’s Cheshire Cat, the Golden Golem of Greatness pronounced this interval of fine fall weather “the calm before the storm.”

Hmmmm. Talk about cryptic.

This was less than a week after he verbally smacked down Secretary of State Rex Tillerson for “wasting his time” trying to diplomatically reach “Little Rocket Man… “ whereby Rex riposted, calling the President a “moron.”

Ordinarily — say, during the past 220-odd years of this nation’s existence – talk like that would prompt a resignation (though, there are no other instances of talk like that).

Tillerson must think that for the good of the country he can’t resign, and God knows what kind of desperate notes are being swapped around between the State Department and the Pentagon.

Where, of course, dwell the generals, lovingly referred to by the president as “my generals,” as if they came out of a trunk full of tin soldiers in the White House play-room. A lot to chew on there. For instance, perhaps the generals have been waiting more than a half century for a good excuse to light up some really odious adversary, just to see how well our serious ordnance works. Or maybe not. Maybe they are all extraordinarily temperate and judicious fellows, averse to apocalyptic violence. Or maybe they are panting to be let off the leash by POTUS… or maybe they want to leash and muzzle the president… and perhaps stuff him into a pet carrier and drown him in the Potomac. For the moment, it’s fun to ruminate on these things, the possibilities are so rich.

But then, we’re told that this is the calm before the storm.

As it happens, just this morning the National Hurricane Center has a storm called “Nate” aimed squarely into New Orleans, ETA Sunday. Now that would be an event the USA does not need, considering how things have gone weather-wise this year. Stand by for developments.

But I doubt the president was referring to that the other day. We are entering a slot of time where an awful lot of things might go wrong.

What gets me is seeing the stock markets make new record highs every other day, whether Puerto Rico is destroyed overnight or hundreds of people are shot in a Las Vegas parking lot – and notwithstanding the overall phony-baloney condition of the American economy, with half of the flyover population in an opiate daze, and chain-stores shuttering to the tune of 10,000 this year, and car leases expiring into a car market dependent on liar loans bundled into janky securities, and the debt problem festering away like a something dead under the floor boards.

Some kind of financial accident with a this-sucker-is-going-down flavor feels like it’s waiting to happen. I don’t think Trump was referring to that either, but what if it came down around the same moment that we decided to light up North Korea? Or, alternately, if Rex Tillerson, Mike Pence, and a score of other senior politicos decide that its time for Trump to go? The president is looking mighty friendless these days, and more than a little reckless. I mean, for the good of the country, ladies and gentlemen, what are they waiting for?

Will his generals defend him? Nah. Fuggedabowdit. I wonder what the code-name for their action will be. Operation Moron Overboard? The whole spectacle is starting to look like a Coen Brothers movie. When the time comes, I hope they will make the documentary about these strange days of October, 2017.

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Yields are dampening USD/JPY – BTMU

USD/JPY strategy
BTMU FX Strategy Research notes that US yields have run into key resistance levels acting as a dampener on USD/JPY.
"At the same time, Japan’s snap election has not supported any weakening by the yen yet. Many Japanese politicians are trying to look good ahead of the election starting October 10. The nonruling parties are trying

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“This Is The Elephant In The Room”: Even SocGen Is Now Calling It A Bubble

Two weeks ago, Janet Yellen finally – and shockingly – admitted that neither she, nor her Fed peers, “fully understand inflation” and that the “shortfall of inflation this year is more of a mystery.” This, after engaging for nearly a decade in actions designed to stimulate said “mysterious” inflation, including injecting nearly $4 trillion in liquidity into the economy. We quickly came to aunt Janet’s rescue, showing in one chart that while the Fed may have failed to stimulate inflation in real economic prices – and especially wages – it had unleashed hyperinflation in asset prices.

Today, it is SocGen’s turn to follow up on what we said, and in a report from SocGen’s Arthur van Slooten, the strategist writes that “while traditional inflation measures may not call for aggressive tightening, we believe high valuation (e.g. cyclically adjusted price-earnings, or CAPE, multiples above 30x) is a sign of inflation in financial assets that is hard to miss. This is the elephant in the room.”

Slooten then slams the vol-selling activity of central banks, pointing out that “high valuation was supported by the drop in volatility, but now that volatility has reached near-historical low levels, further drops may even be dangerous. This situation would not have existed without the  unprecedented liquidity support from central bankers over the last few year.

Luckily, it’s all coming to an end:

As the pressure on the ECB is increasing to provide a perspective on tapering, very soon the Fed will no longer be alone on tightening, which makes it easier to firm up. Also, the latest push by the Trump administration to cut taxes is likely to be embraced by the Fed as another reason to step up tightening.

And while SocGen is battening down the hatches, the French bank is surprised by how little credibility the Fed’s stated tightening intentions have in the market, because as it writes, when looking at its monetary newsflow indicator “Nobody seems to believe the Fed dots” and with good reason. To wit:

The latest Fed dots point to four rate hikes until the end of 2018 but our US monetary newsflow indicator suggests that few market participants will expect the full implementation of these tightening intentions. The Fed only has itself to blame for this loss of credibility, as it has regularly delayed and toned down its initial forecasts.

And while stocks remain oblivious, expecting to be bailed out the moments there is even a 3% “crash”, bonds are starting to get nervous: “the odds of at least one rate hike before September next year have risen in the last four weeks, as have 10-year US Treasury yields (chart below).”

SocGen’s conclusion: “In this context, we have reduced our risk exposure.”  For now, nobody else is, in fact as we wrote yesterday, “There Are No Bears Left… None… Not A Soul.”

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PR: Tothemoon Project: the Merits of Cryptocurrency Mining on the Tothemoon Farm

Tothemoon Cryptocurrency Mining Farm

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Mining is one of the most popular ways of making money on the Internet today. Having appeared not so long ago, it is rapidly gaining popularity, because it creates ample opportunities for obtaining additional incomes of impressive sizes.

Mining is the process of generating a crypto currency in the “World Wide Web”, for which it is necessary to install the appropriate video card and software on the computer or buy special equipment. Carrying out some mathematical calculations, you can earn crypto currency, the output of which is carried out through the electronic wallets or other convenient ways for the user.

In order to create the conditions for professional mining, minimize the risks and costs associated with the individual generation of crypto currency at home, ToTheMoon (Winthrop, Washington, USA) has developed and launched a project of the same name aimed at providing hosting services for mining on the mining farm ToTheMoon.

About the project

ToTheMoon is a project within the framework of which a service for organization of mining on a turnkey basis is provided for representatives all over the world.

To minimize customer’s costs, the company introduces a tokenization procedure. Based on the existing capacities of the mining farm, 51.75 million TMT tokens will be issued during the ICO, of which 45 million will be issued for potential customers.

What is a TMT token and what is its purpose?

Each bought TMT token provides the right to use the facilities of the ToTheMoon mining farm without paying a rent for the next 25 years and is an equivalent to 0.5 W of energy consumption of the miner (equipment for mining). It means that in order to get a place on the mining farm it is necessary to buy the number of tokens that will be obtained when multiplying 0.5 W by the figure representing the total amount of energy consumption by the customer’s equipment.

When can you buy a TMT token?

You can buy tokens within:

• September 5-19, 2017 – pre-sale;
• September 20 – October 31, 2017 – the initial offer (primary official sale).

Depending on the date of purchase, the cost of one token will be from 0.5 to 1.1 dollar USA.

What kind of crypto currency can be mined on a ToTheMoon mining farm?

ToTheMoon Company offers its clients the opportunity to generate the following crypto currencies:

• ETH;
• BTC;
• BCH;
• LTC;
• DASH;

Their list can be further revised and expanded.

What is Included in the Standard Package of Services?

The standard service package includes:

• purchase of equipment and its installation;
• hosting on the mining farm ToTheMoon;
• maintenance and repair of equipment;
• maintenance of personal blockchain.

ToTheMoon Company provides customers with the opportunity to place on the ToTheMoon mining farm miners, purchased from the company’s official website, as well as the customer’s own equipment. Installation of miners bought on the company’s website is free of charge.

The advantage of cooperation with ToTheMoon is the lack of expenditure of maintenance and electrical energy charges due to bought tokens. The minimum hosting pay is 3.5 cents per 1 kW/hour for the token holders.

ToTheMoon project official website tothemoonimus.com

Company name
ToTheMoon LLC
Press contact name
Sam Wilson
Press Contact Email Address
press@tothemoonimus.com
Supporting Link
https://tothemoonimus.com

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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U.S. Oil Rig Count Falls As Prices Falter

The number of active oil and gas rigs in the United States fell this week by 4 rigs. The total oil and gas rig count in the United States now stands at 936 rigs, up 412 rigs from the year prior, with the number of oil rigs in the United States decreasing by 2 this week and the number of natural gas rigs decreasing by 2. The oil rig count now stands 320 above the count one year ago. The spot price for WTI fell earlier on Friday as traders feared further rises in U.S. crude oil inventories as refineries in the US once again brace for stormy weather,…

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Fundamentals only drove half the Toronto house price jump – government study

Government experts ‘puzzled’ by price gains
Bloomberg obtained an internal Canadian housing strudy via a freedom of information request and it shows that officials don’t understand what drove the doubling in Toronto house prices since 2009.

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