Dear Rogue Money Readers: we are posting this Open Thread to encourage Reader Comments in the spirit of "if you hear something, say something" as the Maelstrom of Autumn 2016 begins to unfold. The specific data points that I am watching as Q3 winds down tomorrow are listed below. But, as W. has reminded us, "Expect the Unexpected," and absolutely ANYTHING can happen now between today and next Monday... and beyond as we steer through the treacherous waters of October.
Shout-out to V. and to Ken Schortgen Jr. for sounding the preliminary alarm bells. You'll want to start with these Youtubes:
1. Posted Thursday Sept. 29th, a 3-minute update. You'll want to hit the Subscribe button at Ken's special channel page here.
2. V's interview with the TheDailyCoin.org recorded Wednesday, Sept 28. Comments on Deutsche Bank, the Silk Road, the potential for China to absorb the IMF into the AIIB and establish a Gold Control, lots more:
Honorary Team Rogue Money member Bix Weir has been busy. He reminds us that this past July's "credit watch" of Deutsche Bank could easily turn into "credit downgrade" any moment now:
Recent ZeroHedge headlines related to our favorite German Piñata, Deutsche Bank, are listed below. By the time this article is posted there will likely be a dozen more. Feel free to post breaking news down in the Comments section.
JASTA LA VISTA, BABY!
And then there are the two stories from Saudi Arabia: the Kingdom's continuous hemorrhaging of cash and their reaction to the JASTA Senate override of the Obama veto that now allows 9/11 victims to sue the Saudis. Will the Saudis follow through on their old threat to dump US Treasurys?
ABENOMICS: LONGEST DEATH THROES EVER
Holding our breath to see who gets downgraded below Investment Grade first: Deutsche Bank or the Bank of Japan.
CHINA'S KABUKI TROJAN HORSE? HELLO, SDR!
For dessert, here comes the main event. The evening of September 30/October 01 marks the historic day when the Chinese Renminbi will be officially added to the SDR Basket of Currencies. This is an implied blessing from the High Priests at the International Monetary Fund. All Systems are now GO for the central banks of the world to load up on Chinese bonds. And if there aren't enough of those to go around, well, we've got a special going on Market-SDRs. Hey Saudi, about those UST's that you'd like to dump ... hmmm?
We've written often about the coming of the marriage between China and IMF, like this article New World Currency on Steroids. Jim Rickards has been one of the loudest voices on the subject and he will be chatting with Max Keiser about it yet again next week.
In a related story, Chinese Premier Li Keqiang visited the United Nations this week (story linked here). The IMF is just one sector of the U.N. upon which the Dragon has set her sights. We found this video statement copied below by Liu Jieyi, China's UN representative, to be thought-provoking. It has always seemed to me that a day would come when both Russia and China would realize the latent potential of this global governing body, an organization that has deliberately been kept tied to a leash of weakness by her Anglo-American masters ever since her creation. However, now with yet another escalation of the Syria tensions and China's arrival into the UN's financial framework, we wonder whether this pet beast will be allowed to play a more substantive role within the world's new management team?