First episode of new four-part ‘series’ begins tomorrow
- A busted engine
- Sell everything?
- In the mailbag
The doors on our upcoming LIVE event are about to close.
Although the LIVE event isn’t until next Tuesday, we’ve prepared a four-part video series as a primer.
The first episode is due to drop tomorrow. I’ve seen the videos, and looked at the schedule for the LIVE event. And I have to say, this is something every serious investor has to check out.
I frequently hear folks say that it’s not fair how Wall Street, City of London, and Collins Street traders always seem to have an advantage over the regular investor.
Well, although I can’t guarantee that Jason McIntosh’s powerful computerised system can level the playing field, I’m convinced it helps investors tilt the market back their way.
So if I said to you that I believe we’ve found a system that helps tilt the market your way, wouldn’t that interest you?
Surely it would. If so, register for the LIVE event and four-part video series here.
Remember, due to system limits for the LIVE event, places are strictly limited. If too many people sign up for the event, we will have to stop taking new registrations.
If you haven’t yet signed up for the LIVE event, go here now. It’s FREE to attend.
Overnight, the Dow Jones Industrial Average gained 21.92 points, or 0.12%.
The S&P 500 index added 4.07 points, or 0.19%.
In Europe, the Euro Stoxx 50 index closed down by 35.65 points, or 1.18%. Meanwhile, the FTSE 100 lost 0.5%, and Germany’s DAX index fell 1.3%.
In Asian markets, Japan’s Nikkei 225 index is down 204.96 points, or 1.22%. China’s CSI 300 index is down 0.1%.
On the Aussie market, the S&P/ASX 200 index is down 27.95 points, or 0.5%.
In commodities, West Texas Intermediate crude oil is trading for US$46.77 per barrel. Brent crude is trading for US$49.65 per barrel.
Gold is US$1,353 (AU$1,756) per troy ounce. Silver is US$19.84 (AU$25.74) per troy ounce.
The Aussie dollar is worth 77.06 US cents.
A busted engine
Your editor doesn’t think much of what central bankers are up to. And famed bond fund manager, Bill Gross doesn’t either.
Writing in the Financial Times, Gross notes:
‘“You can pay me now...” counsels the sensible mechanic promoting Fram oil filters in the old-time advert, “…Or pay me later,” interjects his pricier associate, as he tinkers with the broken engine of a customer who has ignored the advice. Central bankers should take heed. Dirty oil and artificially priced financial markets have much in common. Both can destroy engines eventually — and in the case of central banking it is the motor of the real economy that is at risk.’
A nice little analogy from Gross.
It helps that he’s right. Central banking is destroying the world economy.
Unfortunately, they have all the power, because governments need central banks to help them keep asset prices and markets inflated.
Not to mention that they need them to keep supplying the world with truckloads of money, by creating money from thin air and then using it to buy government-issued bonds.
At the moment, the central bankers are playing a dangerous game. It’s hard to know whether the market has caught onto it or not.
If the market has figured it out, given the near record high prices for US stocks and bonds, we can only assume investors believe the US Federal Reserve in particular, will be successful in its plans.
If the market hasn’t figured it out…oh boy, is it in for a surprise.
What do we mean by this?
We mean the constant to-ing and fro-ing by US Fed members. One moment, a Fed member will say that markets are underestimating the odds of an interest rate increase…the next a Fed member will say that rates won’t move much at all, so no need to worry.
We’ve seen this kind of thing play out again over the past 24 hours.
Take this quote from the FT two days ago:
‘Markets are underpricing the odds of a forthcoming interest rate rise a top Federal Reserve official has said, hinting that a hike could come as early as next month.
‘New York Fed chief William Dudley told Fox Business Network on Tuesday that federal funds futures, a tool used by investors to bet on changes in monetary policy, do not accurately reflect the central bank’s stance, according to Bloomberg News.
‘Mr Dudley, who is considered to be closely aligned with chairwoman Janet Yellen, also said that a September rate rise is still on table, noting the US economy is likely to improve in the second half of the year after a very weak showing in the first six months.’
That’s pretty clear, don’t you think?
Until you then read this report from Bloomberg today:
‘U.S. bonds and stocks rose after minutes of the Federal Reserve’s last meeting indicated officials saw little risk of a sharp uptick in inflation, fueling bets interest rates will stay lower for longer. The dollar pared gains.’
Stocks go up one day, and fall the next.
For those who doubt it, the Federal Reserve’s members know exactly what they’re doing.
The US stock market is near a record high. The Fed knows that this is mostly a result of low interest rates and stimulus.
The Fed knows that the high prices aren’t sustainable. And what’s more, it knows that by pushing rates up too quickly, a market crash is sure to follow.
So instead of raising rates, the Fed would rather try to guide the markets one way, then the other, with claims about what they will or won’t do.
It’s easy to say it won’t or can’t work. Long term, we don’t believe it will. But heavens, in the short term the markets appear to have fallen for it hook, line and sinker.
We wait for the crash. Eagerly. But it’s not happening. Not yet.
Perhaps that’s the crash we can see far into the distance. There’s just no telling exactly when it will happen.
In the meantime, we remain perched on the edge of our seat. Expectant.
One more thing. From today’s Age:
‘Fund managers are being forced to dip into their cash holdings as the market rally shows little sign of abating, flying in the face of bearish predictions at the start of the year that prompted one analyst to advise clients to “sell everything”.
‘In January, when investors feared a China-slowdown-led markets meltdown, RBS credit chief Andrew Roberts fired off a note to investors warning of a “cataclysmic year” in markets, urging investors to liquidate their portfolios.’
The article suggests the ‘sell everything’ call may have been bad advice.
But maybe not.
Despite the record highs for US stocks, the Dow Jones Industrial Average is only up 6.59% year-to-date.
The Euro Stoxx 50 index is down 8.78% year-to-date.
The Italian FTSE MIB index is down 22.83% year-to-date.
As for the Aussie market, the S&P/ASX 200 index is up a paltry 4% year-to-date.
Before the bulls crow too much, we recommend they look at the numbers. They ain’t that good.
Maybe it’s still a good idea to sell everything. Or almost everything. Just don’t sell that gold, whatever you do.
In the mailbag
One of our subscribers suggests we look to the Bible for inspiration. This from Noel:
‘Bible prophets of old were without fail, 100% correct !00% of the time. For example, the demise of the ancient wonder of the world, the city of Babylon with its magnificent hanging gardens, which the late Sadam Husain attempted to rebuild but failed came to pass. The prophet Micah predicted the arrival of John the Baptist centuries before he was born. The prophet Daniel among many other of his prophecies, such as “at the time of the end; many shall run to and fro, and knowledge shall increase”. (One only needs to visit any international airport to see with your own eyes the technology and all of this in action). This is unprecedented in all history.
‘He also predicted the rise and fall of the greatest world empires from Babylon to the Roman empire, and the future revival of the Roman Empire represented by the 10 toes of iron mingled with clay which in our time is still to be played out. (Watch Europe). There were many prophesies concerning the coming of Jesus, even to him riding into Jerusalem on a donkey. One could easily go on and on with detail.
‘However, YOU ARE RIGHT. A digital currency will mean we as the people would lose control of our assets. Governments would find it easy to cream off what and when they wish, regulate inflation and whatever they would like to do.
‘Given that these old time prophets have all the runs on the board, it leaves no reason for anyone to doubt what they said about our future from today will come to pass.
‘A digital currency will provide the ideal platform for the forecast world dictator the Bible describes as the “Antichrist” to control the masses. Here, one can easily speculate it could be done with the current available technology, specifically receiving a “mark”, consisting of a microscopic tissue-integrated sensor chip implant in their right hand or forehead as the Prophet/Apostle John describes the location of such. Without this “mark”, which will somehow incorporate the number 666, it will be impossible to buy or sell, i.e. trade. Outside this system it will be extremely difficult to exist, and possibly mean death. To accept and be in this system will be eternal damnation.
‘We are indeed living in perilous times and the Bible does have an answer to all of this. In brevity and simplicity it is found in the Gospel of John, chapter 3, and verse 16. You better believe it!’
It’s easy to scoff when folks suggest you look at the Bible for inspiration or ideas.
That would be foolish. Whether you’re religious or not, if someone or something has wise words, it’s worth paying attention.
Even if you don’t believe they were prophets, or that they could see into the future, you could at least acknowledge that they understood how the world works…and how power leads to corruption the loss of personal freedom.
Remember, while technology and living conditions change over the years, human instinct, actions, and behaviours rarely change.
So look to history. See what happened in the past. There’s a very good chance that as it happened then, so it will happen now.
Or ignore it. It’s entirely up to you.
Two letters responding to a statement made by subscriber John N, in a recent Port Phillip Insider. First, this one from David D:
‘I was very interested to read the comments from Subscriber John N.
‘Would he (or you if you know it) care to let us know the name of the Gold backed Bank with a debit card facility? I for one would be very interested.’
This from subscriber, Eleanor B:
‘In your PPInsider today,
‘Subscriber John N says:
‘I’ve put myself on a gold standard.
‘My currency goes into a bank that is solely backed by gold. There’s no lending. And there’s no interest earned. But there’s more…
‘They have a debit card….”
‘Oh? Can you expand on this? Which bank? Covered by the $250K guarantee? In today’s uncertainty, this idea seems to have merit…’
Good question. John N, if you’re still watching, drop us a line to firstname.lastname@example.org and spill the beans. Your editor would be much obliged…and interested.
Finally, a letter from David T:
‘I am a Port Phillip Publishing subscriber for many years.
‘I also check out a lot of non-mainstream information, mainly from the www.
‘Recently, David Icke visited Australia as part of his World Wide Wake Up tour. I planned on attending but had multiple commitments and could make it. https://www.davidicke.com/index.php
‘I would suspect that you are familiar with Icke’s content in relation to the one world economy, one world governments, planned wars and central banking etc.
‘In fact Jim Rickards Strategic Intelligence Australia Issue 07 Volume 2, mentions: “IMF released a paper that is a blueprint for implementation of a new global reserve currency called the Special Drawing Right, or SDR”. i.e one world currency??
‘Now, I don’t believe or understand everything that David Icke comments about, but I am a subscriber to his beliefs that the powers that be are working towards on a one world government/power which is being driven by the wealthy minority, with a finger in every pie on this earth.
‘The evidence of their rapidly evolving plan is played out on our televisions every night.
‘If you have watched David Icke’s podcasts, you will see that it has become only a matter of time, before his predictions seep out to the general public and effect our lives,. These predictions are always conducted by the by the usual suspects, governments, bankers and presented my our pathetic media. etc.
‘I think that the tone of Vern Gowdie’s publication The End Of Australia is in accordance with a lot of what David Icke is promoting.
‘I wonder then, if there is a point for Port Phillip Publishing, to give some consideration to David Icke’s work in relation to providing investment and or wealth protection strategies to its subscribers? Perhaps David Icke’s prediction or opinions, could be used for consideration with long term financial forecasting?
‘Jim Rickards has made no secret that he used to work at the pointy end of some of this world manipulation in the past.
‘I am sure he would agree with some of Icke’s comments.
‘This isn’t really a plug for David Icke. I merely wanted to share some information which I thought you might be interested in, or at least give some consideration too, given that a lot of Port Phillip Publishing content goes against the flow of the mainstream financial reporting content.’
I’m vaguely aware of David Icke and some of his views about who is really running the world, and especially the global financial system.
However, I’m more familiar with David Icke from his mainstream days. During the 1960s and 1970s, Icke was a goalkeeper for various English football clubs, including Coventry City.
After retiring due to an injury, he became a sports presenter on the BBC, frequently hosting the Saturday sports program, Grandstand — must-see viewing for any sports-mad youngster in the 1980s, before the advent of satellite and cable television.
But perhaps what he is now most remembered for in the UK is an interview on the BBC with talkshow host, Terry Wogan. I remember watching it like it was yesterday.
You can see the video on Youtube. Icke later admitted that he was going through personal issues at the time. However, from what I gather, much of what he said during that interview are views that he still holds today.