From MND
By Michael Snyder
''By recklessly printing, borrowing and spending money, our authorities
are absolutely shredding confidence in the U.S. dollar. The rest of the
world is watching this nonsense, and at some point they are going to
give up on the U.S. dollar and throw their hands up in the air. When
that happens, it is going to be absolutely catastrophic for the U.S.
economy. Right now, we export a lot of our inflation. Each year, we
buy far more from the rest of the world than they buy from us, and so the rest of the world ends up with giant piles of U.S. dollars.''
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Friday, November 30, 2012
''China imports threatens South Africa manufacturing''
From Engineering News
''The import of cheap goods from China was one of the largest external factors inhibiting the exploitation of the manufacturing sector in South Africa, said Manufacturing Circle chairperson Stewart Jennings on Wednesday.
Speaking at the launch of the Manufacturing Circle’s position document ahead of the African National Congress’s (ANC’s) Mangaung conference in December, he criticised the Free Market Foundation statement last month claiming that cheap imports were not hurting the manufacturing industry, saying that local jobs were being lost and exported to China, in particular.
The manufacturing sector had lost in excess of 300 000 jobs between the first quarter of 2008 and the first quarter of 2012.
He also noted the closure of about 440 000 small businesses, of which some were a direct result of Chinese imports, in addition to a depressed sector.''
read more
''The import of cheap goods from China was one of the largest external factors inhibiting the exploitation of the manufacturing sector in South Africa, said Manufacturing Circle chairperson Stewart Jennings on Wednesday.
Speaking at the launch of the Manufacturing Circle’s position document ahead of the African National Congress’s (ANC’s) Mangaung conference in December, he criticised the Free Market Foundation statement last month claiming that cheap imports were not hurting the manufacturing industry, saying that local jobs were being lost and exported to China, in particular.
The manufacturing sector had lost in excess of 300 000 jobs between the first quarter of 2008 and the first quarter of 2012.
He also noted the closure of about 440 000 small businesses, of which some were a direct result of Chinese imports, in addition to a depressed sector.''
read more
'Jim Willie 2012'
http://www.youtube.com/watch?v=c7lxbyprDks&list=UL
''Are the Netherlands' gold reserves real? MPs want answers''
From Dutch News
''Questions have been asked in parliament about the location and value of the country's gold reserves, most of which is said to be in foreign vaults, news agency ANP reports on Wednesday.
The Netherlands is said to have 612 tonnes of gold, with a value of some €24bn. Just 10% of it is held at the central bank headquarters in Amsterdam. The rest is in bank vaults in the US, Canada and Britain.''
read more
''Questions have been asked in parliament about the location and value of the country's gold reserves, most of which is said to be in foreign vaults, news agency ANP reports on Wednesday.
The Netherlands is said to have 612 tonnes of gold, with a value of some €24bn. Just 10% of it is held at the central bank headquarters in Amsterdam. The rest is in bank vaults in the US, Canada and Britain.''
read more
''Disney, Sears and other global retailers implicated in Bangladesh factory tragedy''
From RT.com
''Major US and international retailers, including Disney and Sears, are implicated in the Bangladesh factory fire that claimed the lives of 121 people. Evidence of clothing clearly labeled with various big name brands has been found among the debris.
On Wednesday an Associated Press reporter found garments with logos of a host of brands, including Disney, Sears’ Faded Glory and French company Teddy Smith, as well as account books depicting many retailer names.
The garment factory was apparently making clothes for a range of international retailers, some of which claim they had already stopped doing business with the manufacturer.''
read more
''Major US and international retailers, including Disney and Sears, are implicated in the Bangladesh factory fire that claimed the lives of 121 people. Evidence of clothing clearly labeled with various big name brands has been found among the debris.
On Wednesday an Associated Press reporter found garments with logos of a host of brands, including Disney, Sears’ Faded Glory and French company Teddy Smith, as well as account books depicting many retailer names.
The garment factory was apparently making clothes for a range of international retailers, some of which claim they had already stopped doing business with the manufacturer.''
read more
Keiser Report: ''Hermaphrodite Banking'' (E373)
''2013 Silver Price Forecast: Silver Will Perform Like Gold on Steroids''
From MoneyMorning
By Peter Krauth
''For 2013 I think silver, like gold, will set a new all-time nominal price record, likely reaching as high as $54 an ounce.
Despite silver's dependency on gold, it does have some distinct fundamentals, too.
In fact, here are my key drivers for silver prices in 2013................continue reading
By Peter Krauth
''For 2013 I think silver, like gold, will set a new all-time nominal price record, likely reaching as high as $54 an ounce.
Despite silver's dependency on gold, it does have some distinct fundamentals, too.
In fact, here are my key drivers for silver prices in 2013................continue reading
''Indigenous Protests Grow as Ecuador Auctions Amazon Oil Blocks''
From Upside Down World
Quito, Ecuador – ''Hundreds of indigenous people gathered outside the Marriott Hotel in Quito today at the VII Annual Meeting of Oil and Energy where the Ecuadorian government announced the opening of the XI Round, an oil auction in which 13 oil blocks went on sale covering nearly eight million acres of rainforest in the Amazonian provinces of Pastaza and Morona Santiago near the border with Peru.''
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Quito, Ecuador – ''Hundreds of indigenous people gathered outside the Marriott Hotel in Quito today at the VII Annual Meeting of Oil and Energy where the Ecuadorian government announced the opening of the XI Round, an oil auction in which 13 oil blocks went on sale covering nearly eight million acres of rainforest in the Amazonian provinces of Pastaza and Morona Santiago near the border with Peru.''
read more
''The End of Growth''
From ZeitNews
By Lykke E. Andersen
''During most of the history of mankind, average incomes across the globe amounted to somewhere between $1 and $2 per day, and income growth was only marginally above zero, averaging about 0.033% per year from year 0 to year 1868, and probably even less during the preceding millennia. In the hundred year period from 1868 to 1968, however, real per capita income growth suddenly increased forty-fold to about 1.43% per year, and when I was born average per capita income in the world had reached about $10/day. During my life-time, income growth has averaged 1.96%, implying that average per capita GDP in the world is now above $20/day. Growth rates have kept increasing steadily, reaching an average of about 2.94% per year in the first decade of this century. Such growth rates are unprecedented in the history of our species.''
read more
By Lykke E. Andersen
''During most of the history of mankind, average incomes across the globe amounted to somewhere between $1 and $2 per day, and income growth was only marginally above zero, averaging about 0.033% per year from year 0 to year 1868, and probably even less during the preceding millennia. In the hundred year period from 1868 to 1968, however, real per capita income growth suddenly increased forty-fold to about 1.43% per year, and when I was born average per capita income in the world had reached about $10/day. During my life-time, income growth has averaged 1.96%, implying that average per capita GDP in the world is now above $20/day. Growth rates have kept increasing steadily, reaching an average of about 2.94% per year in the first decade of this century. Such growth rates are unprecedented in the history of our species.''
read more
Thursday, November 29, 2012
''The International Banking Cartel''
''UK banks face £60bn black hole''
From The Telegraph
Sir Mervyn King, the Bank’s Governor, said the potential losses distorted the “picture of banks’ health” and that lenders may have to “raise capital or take steps to restructure”. He added: “The danger to be avoided is that of inadequately capitalised banks holding back our recovery.''
read more
''In its Financial Stability Report (FSR), the Bank revealed that the big four
lenders - RBS, Lloyds, Barclays and HSBC - may need to take £15bn of extra
provisions on consumer loans and European debt, “a further £4bn-£10bn” to
cover fines and customer compensation, and “between £5bn and £35bn” to meet
regulatory risk standards.
Sir Mervyn King, the Bank’s Governor, said the potential losses distorted the “picture of banks’ health” and that lenders may have to “raise capital or take steps to restructure”. He added: “The danger to be avoided is that of inadequately capitalised banks holding back our recovery.''
read more
''Shadow Banking-How Wall Street "Privatized" Money Creation''
From CounterPunch
By Mike Whitney
''Regulators are worried about the explosive growth of shadow banking, and they should be. Shadow banks were at the heart of the last financial crisis and they’ll be at the heart of the next financial crisis as well. There’s no doubt about it. It’s simply impossible to maintain a system where unregulated, non-bank financial institutions are able to create their own money (credit) without oversight or supervision. The money they create–via off-balance sheets operations, securitization, repo or other unmonitored mega-leveraging activities–feeds into the economy, creates artificial demand, lowers unemployment, and fuels growth. But when the cycle slams into reverse (and debts are no longer serviced on time), then thinly-capitalised shadow banks begin to default one-by-one, creating a daisy-chain of counterparty bankruptcies that push stocks into a nosedive while the economy slips into a long-term slump.''
read more
By Mike Whitney
''Regulators are worried about the explosive growth of shadow banking, and they should be. Shadow banks were at the heart of the last financial crisis and they’ll be at the heart of the next financial crisis as well. There’s no doubt about it. It’s simply impossible to maintain a system where unregulated, non-bank financial institutions are able to create their own money (credit) without oversight or supervision. The money they create–via off-balance sheets operations, securitization, repo or other unmonitored mega-leveraging activities–feeds into the economy, creates artificial demand, lowers unemployment, and fuels growth. But when the cycle slams into reverse (and debts are no longer serviced on time), then thinly-capitalised shadow banks begin to default one-by-one, creating a daisy-chain of counterparty bankruptcies that push stocks into a nosedive while the economy slips into a long-term slump.''
read more
''CEOs Use Smokescreen of Federal Debt to Promote Corporate Tax Breaks''
From ALLGOV
''What was promoted as a plan by corporate CEOs to help pay down the federal deficit could really turn into a revenue windfall for some of the largest companies in the U.S.
The Campaign to Fix the Debt, a business group led former Bill Clinton Chief of Staff Erskine Bowles and former U.S. Senator Alan Simpson (R-Wyoming), recently proposed a deficit reduction plan that they contended would require CEOs to pay a higher tax rate.
After examining this proposal, the Institute for Policy Studies (IPS), a liberal think tank, concluded that because corporations would score big if their plan was adopted by lawmakers and President Barack Obama, the CEOs would receive greater compensation despite the higher rate.
Among the provisions advocated by the Campaign to Fix the Debt is a territorial tax system, which would allow corporations to bring home overseas profits and pay little or no tax on them. In all, the savings could amount to $134 billion for the 63 publicly-held companies that have joined the Bowles-Simpson group.
The biggest winners would be General Electric ($35.7 billion), Microsoft ($19.4 billion), Merck ($15.5 billion) and Cisco Systems ($14.5 billion).''
read more
''What was promoted as a plan by corporate CEOs to help pay down the federal deficit could really turn into a revenue windfall for some of the largest companies in the U.S.
The Campaign to Fix the Debt, a business group led former Bill Clinton Chief of Staff Erskine Bowles and former U.S. Senator Alan Simpson (R-Wyoming), recently proposed a deficit reduction plan that they contended would require CEOs to pay a higher tax rate.
After examining this proposal, the Institute for Policy Studies (IPS), a liberal think tank, concluded that because corporations would score big if their plan was adopted by lawmakers and President Barack Obama, the CEOs would receive greater compensation despite the higher rate.
Among the provisions advocated by the Campaign to Fix the Debt is a territorial tax system, which would allow corporations to bring home overseas profits and pay little or no tax on them. In all, the savings could amount to $134 billion for the 63 publicly-held companies that have joined the Bowles-Simpson group.
The biggest winners would be General Electric ($35.7 billion), Microsoft ($19.4 billion), Merck ($15.5 billion) and Cisco Systems ($14.5 billion).''
read more
''The housing recovery's shadowy secret''
''BBC Documentary | The Money Trap | How Banks Control the World Through Debt''
Comment from the YouTube page............''This programme is a deception which is typical of the BBC. If the BBC were truly independent it would be explaining to viewers how all money is created as debt by fractional reserve banking. All sovereign debt and all personal debt is created out of fresh air on which interest is then charged. This fake debt is the justification for 'austerity' The families behind the privately owned central banks, who also control the mainstream media have conned the human race. This is FACT not theory.''
''The JFK Assassination and the Lost Prospects for Peace''
From GlobalResearch
''During the Kennedy Administration there was an unmistakable reconsideration of the relationship between the permanent wartime economy with the broader national and international political economy. This was evident not only in JFK’s move to scale back US involvement in Vietnam, evident in National Security Action Memorandum 263, but also in his attempt to dismantle the Central Intelligence Agency, and challenge the power of the Federal Reserve Bank by issuing genuine silver-backed currency. In very short order such actions were overturned by Lyndon Johnson and the US was plunged into a murderous and costly war. With Kennedy’s passing the world’s inhabitants may have lost any serious prospect of world peace.''
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''During the Kennedy Administration there was an unmistakable reconsideration of the relationship between the permanent wartime economy with the broader national and international political economy. This was evident not only in JFK’s move to scale back US involvement in Vietnam, evident in National Security Action Memorandum 263, but also in his attempt to dismantle the Central Intelligence Agency, and challenge the power of the Federal Reserve Bank by issuing genuine silver-backed currency. In very short order such actions were overturned by Lyndon Johnson and the US was plunged into a murderous and costly war. With Kennedy’s passing the world’s inhabitants may have lost any serious prospect of world peace.''
read more
''Spain: banks get cash jobs get slashed''
From EuroNews
''The European Commission has approved a 37 billion euro bailout for four Spanish banks in exchange for massive job cuts and branch closures.
The funds approved will be provided by the European Stability Mechanism, the eurozone bailout fund.
Spain has negotiated a banking bailout worth 100 billion euros but said it won’t claim the full amount.''
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''The European Commission has approved a 37 billion euro bailout for four Spanish banks in exchange for massive job cuts and branch closures.
The funds approved will be provided by the European Stability Mechanism, the eurozone bailout fund.
Spain has negotiated a banking bailout worth 100 billion euros but said it won’t claim the full amount.''
read more
''Bank of Japan Posts Whopping ¥233 Billion Loss As Its Soaring Balance Sheet Hits Record ¥156 Trillion''
From ZeroHedge
.................''the Bank of Japan, just reported that in the quarter ended September 30, the Japanese central bank reported an operating loss of ¥183.4 billion, and a net loss of ¥232.9 billion. As a comparison, the loss in the same period in 2011 was "only" 91 billion. This is a harbinger of the total collapse that is the utterly meaningless capital tranche of all central banks will go through before the terminal phase of the global Keynesian experiment is finally completed.''
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.................''the Bank of Japan, just reported that in the quarter ended September 30, the Japanese central bank reported an operating loss of ¥183.4 billion, and a net loss of ¥232.9 billion. As a comparison, the loss in the same period in 2011 was "only" 91 billion. This is a harbinger of the total collapse that is the utterly meaningless capital tranche of all central banks will go through before the terminal phase of the global Keynesian experiment is finally completed.''
read more
''How Do the Chinese View the Gold Market?''
From GoldSeek
By Jeff Clark
''Have you ever wondered what the typical Chinese gold investor thinks about our Western ideas of gold? We read month after month about demand hitting record after record in their country – how do they view our buying habits?
Since 2007, China's demand for gold has risen 27% per year. Its share of global demand doubled in the same time frame, from 10% to 21%. And this occurred while prices were rising.
Americans are buying precious metals, no doubt. You'll see in a news item below that gold and silver ETF holdings just hit record levels. The US Mint believes that 2012 volumes will surpass those of 2011.''
read more
By Jeff Clark
''Have you ever wondered what the typical Chinese gold investor thinks about our Western ideas of gold? We read month after month about demand hitting record after record in their country – how do they view our buying habits?
Since 2007, China's demand for gold has risen 27% per year. Its share of global demand doubled in the same time frame, from 10% to 21%. And this occurred while prices were rising.
Americans are buying precious metals, no doubt. You'll see in a news item below that gold and silver ETF holdings just hit record levels. The US Mint believes that 2012 volumes will surpass those of 2011.''
read more
''China jumps aboard a Russian Arctic-bound train''
From Barents Observer
''The Chinese company, a large-scale state-owned enterprise specializing in infrastructure investments, has signed a memorandum of understanding with the Republic of Komi with the ultimate goal of developing the Belkomur, the railway line connecting the northern Russian cities of Perm and Arkhangelsk.''
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''The Chinese company, a large-scale state-owned enterprise specializing in infrastructure investments, has signed a memorandum of understanding with the Republic of Komi with the ultimate goal of developing the Belkomur, the railway line connecting the northern Russian cities of Perm and Arkhangelsk.''
read more
''EU commission foresees two treaty changes to reach full integration''
From EU Observer
''The EU commission Wednesday published its vision for a "genuine" economic and monetary union (EMU) under which national budgets could be vetoed and a central European budget would allow transfers for troubled countries.
The process would require two rounds of treaty change – one within the next five years and another more profound exercise in the longer-term.''
read more
''The EU commission Wednesday published its vision for a "genuine" economic and monetary union (EMU) under which national budgets could be vetoed and a central European budget would allow transfers for troubled countries.
The process would require two rounds of treaty change – one within the next five years and another more profound exercise in the longer-term.''
read more
Wednesday, November 28, 2012
''Gold Convertibility and Reserve Currencies''
From GoldSeek
By Vin Maru
''There is some speculation that China is increasing its gold holding to make the yuan a gold-backed currency in an effort to make it a world currency reserve. While it is an interesting concept, it will most likely never happen. In order to back a currency, their gold holdings must increase or decrease alongside the increase or decrease in the number of currency units in the system. A gold backed currency would entail having a fixed rate of convertibility for each ounce of gold to a specific number currency units issued by that country. There is probably no country in the world that will honour convertibility on a fixed basis, it would be financial suicide and is part of the reason why Nixon closed the gold window.''
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By Vin Maru
''There is some speculation that China is increasing its gold holding to make the yuan a gold-backed currency in an effort to make it a world currency reserve. While it is an interesting concept, it will most likely never happen. In order to back a currency, their gold holdings must increase or decrease alongside the increase or decrease in the number of currency units in the system. A gold backed currency would entail having a fixed rate of convertibility for each ounce of gold to a specific number currency units issued by that country. There is probably no country in the world that will honour convertibility on a fixed basis, it would be financial suicide and is part of the reason why Nixon closed the gold window.''
read more
''Endangered: Use of bills, coins falling dramatically''
From Sious City Journal
''Think about this: Only 7 percent of fiscal transactions in the United States are handled in cash.
Could an American future without bills and coins be in store? In a century where credit cards, debit cards and online transactions are rapidly replacing payment by quarters and $5 bills, the end of currency certainly seems at hand.''
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''Think about this: Only 7 percent of fiscal transactions in the United States are handled in cash.
Could an American future without bills and coins be in store? In a century where credit cards, debit cards and online transactions are rapidly replacing payment by quarters and $5 bills, the end of currency certainly seems at hand.''
read more
William Davis - 'Wheat: The UNhealthy Whole Grain'
According to Dr. Davis, saying goodbye to all things wheat provides outsized and unexpected health benefits, from weight loss, to relief from acid reflux and bowel urgency, to reversal of diabetes, migraine headaches, and learning disabilities in children.''
''“We The People” – how many people would like to secede from the United States?''
From Voice of Russia
''Following Barack Obama’s victory in the November 6 run for US presidency, many American states filed secession petitions with the White House’s online petition system “We The People” asking for a permission to withdraw from the United States. Texas is currently leading the pack, with 117,311 signatures. The rules set the threshold required for the petition to be considered by the administration at 25,000 signatures.''
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''Following Barack Obama’s victory in the November 6 run for US presidency, many American states filed secession petitions with the White House’s online petition system “We The People” asking for a permission to withdraw from the United States. Texas is currently leading the pack, with 117,311 signatures. The rules set the threshold required for the petition to be considered by the administration at 25,000 signatures.''
read more
'GOLD & SILVER OUTSIDE THE MATRIX - Mike Maloney & David Morgan In Las Vegas'
https://www.youtube.com/watch?feature=player_embedded&v=Ox_fyxJ4qVk
''Packed Tahrir Square defiant as deadlock prevails over Morsi decree''
From AhramOnline
''Over 100,000 defiant protesters occupied Cairo's Tahrir Square on Tuesday to demand the cancellation of President Mohamed Morsi's controversial Thursday decree. Egypt’s ruling Islamists, however, showed no sign of backing down, suggesting that continued political deadlock is inevitable.''
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''Over 100,000 defiant protesters occupied Cairo's Tahrir Square on Tuesday to demand the cancellation of President Mohamed Morsi's controversial Thursday decree. Egypt’s ruling Islamists, however, showed no sign of backing down, suggesting that continued political deadlock is inevitable.''
read more
''How Iceland defeated the Anglo-American Bankster Mafia''
http://www.youtube.com/watch?v=7zlzC_XMQzI
“The Petrodollar is Either Dead or Dying”
From Gold Switzerland
By Lars Schall
''The internationally acknowledged energy consultant Chris Cook addresses in this exclusive interview the new IEA report; the pre-dominant factors in the oil market; his version of a commodity-based currency; why an attack on Iran is rather unlikely; and the consequence of a rising oil price for gold.''
read more
By Lars Schall
''The internationally acknowledged energy consultant Chris Cook addresses in this exclusive interview the new IEA report; the pre-dominant factors in the oil market; his version of a commodity-based currency; why an attack on Iran is rather unlikely; and the consequence of a rising oil price for gold.''
read more
John Butler: ''The Curse of the Reserve Currency''
From Financial Sense
By John Butler
''Is reserve currency status an economic blessing or a curse? The answer might seem obvious, as reserve currencies have been shown to confer lower borrowing costs on their issuers. But what of the borrower who, enticed by low interest rates, borrows more than they can pay back? Naturally the result will be a default. However, for the issuer of a reserve currency that is unbacked by a marketable commodity, such as gold, in the event that they borrow too much, they can just print more currency. While this avoids default indefinitely, it also hollows out the economy, erodes the capital stock, reduces the potential growth rate and, eventually, leads to a dramatic devaluation of the currency and loss of reserve status. History has not been kind to countries that have followed this path. In my view, the grave investment risks associated with the US dollar’s inevitable and potentially imminent loss of reserve status are not priced into financial markets.''
read more
By John Butler
''Is reserve currency status an economic blessing or a curse? The answer might seem obvious, as reserve currencies have been shown to confer lower borrowing costs on their issuers. But what of the borrower who, enticed by low interest rates, borrows more than they can pay back? Naturally the result will be a default. However, for the issuer of a reserve currency that is unbacked by a marketable commodity, such as gold, in the event that they borrow too much, they can just print more currency. While this avoids default indefinitely, it also hollows out the economy, erodes the capital stock, reduces the potential growth rate and, eventually, leads to a dramatic devaluation of the currency and loss of reserve status. History has not been kind to countries that have followed this path. In my view, the grave investment risks associated with the US dollar’s inevitable and potentially imminent loss of reserve status are not priced into financial markets.''
read more
''BRICS: The World’s New Banker?''
From StratRisks
''The BRICS (Brazil, Russia, India, China and South Africa) bloc has begun planning its own development bank and a new bailout fund which would be created by pooling together an estimated $240 billion in foreign exchange reserves, according to diplomatic sources. To get a sense of how significant the proposed fund would be, the fund would be larger than the combined Gross Domestic Product (GDP) of about 150 countries, according to Russia and India Report.''
read more
''The BRICS (Brazil, Russia, India, China and South Africa) bloc has begun planning its own development bank and a new bailout fund which would be created by pooling together an estimated $240 billion in foreign exchange reserves, according to diplomatic sources. To get a sense of how significant the proposed fund would be, the fund would be larger than the combined Gross Domestic Product (GDP) of about 150 countries, according to Russia and India Report.''
read more
''The European Union And The Emerging Asian Powers Of China And India''
From EurasiaReview
''The rise of China and the emergence of India have profound implications for the world’s economy and politics. Both consistently registered high growth rates before the global financial crisis and the Euro-zone sovereign debt crisis led to a contraction. China has already trebled its share of world GDP and India has doubled it.''
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''The rise of China and the emergence of India have profound implications for the world’s economy and politics. Both consistently registered high growth rates before the global financial crisis and the Euro-zone sovereign debt crisis led to a contraction. China has already trebled its share of world GDP and India has doubled it.''
read more
"Yes to Life! No to Gold!" Indigenous Communities in Peru Struggle to Defend Land From Mining''
From UpsideDownWorld
''Behind the rhetoric of Peru’s economic boom and corporate social responsibility lies the struggle of indigenous communities to defend their land and their right to clean water.
Máxima Acuña is one of the faces behind that struggle.
With a blue plastic sheet and an alpaca blanket wrapped around her shoulders, Máxima Acuña, 42, walked through torrid rain for 10 hours to appear in court in the picturesque Andean town of Celendin. From the splendid hills of Sorochuco, she tracked down slippery roads and winding footpaths to hear the case that the owners of the Yanacocha mine in northern Peru have launched against her and her family. It is not the other way around.''
read more
''Behind the rhetoric of Peru’s economic boom and corporate social responsibility lies the struggle of indigenous communities to defend their land and their right to clean water.
Máxima Acuña is one of the faces behind that struggle.
With a blue plastic sheet and an alpaca blanket wrapped around her shoulders, Máxima Acuña, 42, walked through torrid rain for 10 hours to appear in court in the picturesque Andean town of Celendin. From the splendid hills of Sorochuco, she tracked down slippery roads and winding footpaths to hear the case that the owners of the Yanacocha mine in northern Peru have launched against her and her family. It is not the other way around.''
read more
Keiser Report: 'God Hates Bankers' (E372)
Tuesday, November 27, 2012
Jim Willie: ''Immutable Gold Laws''
the latest from Jim Willie and Silver Doctors
''Several immutable Gold Rules appear to be self-evident and powerfully manifested in the modern world of banker corruption, financial market intervention, currency debasement, phony accounting, and economic deterioration, all amidst powerful incessant media propaganda, against a backdrop of endless war. The global fascism movement has taken deepest root in what during the 1960 through 1980 decade was the capitalism regions steeped in democracy. Since the Lehman Brother scuttle and the Fannie Mae adoption and the AIG black hole admission, the financial crisis that began with the housing bubble and subprime mortgage bust has turned virulent. The global financial crisis is better described as a global monetary war to defend the toxic USDollar, whose sunset can be seen. In the last 12 to 18 months, the monetary war has again morphed, this time into a far more serious and financially violent global Gold War. Nations are fast realizing that their only true liquid assets of value are their gold reserves, and even they have been tampered with or stolen in a vast re-hypothecation scheme.''
read more
''Several immutable Gold Rules appear to be self-evident and powerfully manifested in the modern world of banker corruption, financial market intervention, currency debasement, phony accounting, and economic deterioration, all amidst powerful incessant media propaganda, against a backdrop of endless war. The global fascism movement has taken deepest root in what during the 1960 through 1980 decade was the capitalism regions steeped in democracy. Since the Lehman Brother scuttle and the Fannie Mae adoption and the AIG black hole admission, the financial crisis that began with the housing bubble and subprime mortgage bust has turned virulent. The global financial crisis is better described as a global monetary war to defend the toxic USDollar, whose sunset can be seen. In the last 12 to 18 months, the monetary war has again morphed, this time into a far more serious and financially violent global Gold War. Nations are fast realizing that their only true liquid assets of value are their gold reserves, and even they have been tampered with or stolen in a vast re-hypothecation scheme.''
read more
''Cox and Archer: Why $16 Trillion Only Hints at the True U.S. Debt''
From WSJ.com
''The actual liabilities of the federal government—including Social Security, Medicare, and federal employees' future retirement benefits—already exceed $86.8 trillion, or 550% of GDP. For the year ending Dec. 31, 2011, the annual accrued expense of Medicare and Social Security was $7 trillion. Nothing like that figure is used in calculating the deficit. In reality, the reported budget deficit is less than one-fifth of the more accurate figure.''
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''The actual liabilities of the federal government—including Social Security, Medicare, and federal employees' future retirement benefits—already exceed $86.8 trillion, or 550% of GDP. For the year ending Dec. 31, 2011, the annual accrued expense of Medicare and Social Security was $7 trillion. Nothing like that figure is used in calculating the deficit. In reality, the reported budget deficit is less than one-fifth of the more accurate figure.''
read more
"The Silver Saga"
a must read................From SilverSeek
By Antal E. Fekete
By Antal E. Fekete
''The silver standard did not die a natural death. It was deliberately killed. A proper search for the assassins was never carried out. There was never a post-mortem.
In this paper we focus on the conspiracy as it might have unfolded
between the two dates: April 9, 1865 (the day General Lee of the
Confederacy surrendered at Appomattox to General Grant of the Union
marking the end of the War Between the States) and January 1, 1879
(Resumption Day, when payment of the victorious Union’s currency, the
greenback was resumed in gold specie ̶ but not in silver).''
''The Japanese Are About To Enter The Gold Market In Size''
From King World News
.........''But it seems to me that the Japanese are close to some sort of agreement on weakening the yen. This will spur demand for gold from the Japanese public. Up to now the Japanese have been relatively quiet when it comes to gold, but I think things are stirring. If you look at the gold price in yen, it’s right back to the highs from February. So gold has had a good run as the yen has weakened.''
read more
.........''But it seems to me that the Japanese are close to some sort of agreement on weakening the yen. This will spur demand for gold from the Japanese public. Up to now the Japanese have been relatively quiet when it comes to gold, but I think things are stirring. If you look at the gold price in yen, it’s right back to the highs from February. So gold has had a good run as the yen has weakened.''
read more
''Yuan hailed as the world reserve currency''
From SCMP
''Now two academics, Arvind Subramanian and Martin Kessler of the respected Peterson Institute for International Economics, have developed a formula, which claims that the yuan already has taken over from the US dollar as the most important reference currency over large areas of Asia.
They contend that "in East Asia, there is already a renminbi bloc, because the renminbi has become the dominant reference currency, eclipsing the dollar … seven currencies out of 10 co-move more closely with the renminbi than with the dollar.''
read more
''Now two academics, Arvind Subramanian and Martin Kessler of the respected Peterson Institute for International Economics, have developed a formula, which claims that the yuan already has taken over from the US dollar as the most important reference currency over large areas of Asia.
They contend that "in East Asia, there is already a renminbi bloc, because the renminbi has become the dominant reference currency, eclipsing the dollar … seven currencies out of 10 co-move more closely with the renminbi than with the dollar.''
read more
''Tired of Service Cuts, California Cities Raise Taxes''
From Governing.com
''Have cities reached the limit when it comes to cutting services? That seems to be the case in California where voters passed 71 percent of local tax and bond measures, according to Michael Coleman, fiscal policy advisor for the League of California Cities. Dig a little deeper and you will find that 80 percent of city general tax measures passed on election night.''
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''Have cities reached the limit when it comes to cutting services? That seems to be the case in California where voters passed 71 percent of local tax and bond measures, according to Michael Coleman, fiscal policy advisor for the League of California Cities. Dig a little deeper and you will find that 80 percent of city general tax measures passed on election night.''
read more
''The Australian Dollar: A Global Currency?''
From The Diplomat
By Anthony Fensom
''Australia has long prided itself on “punching above its weight” in global sporting contests such as the Olympics. Now, the resource-rich nation of 22.6 million people and the world’s 12th biggest economy may see its currency do the same, with the Australian dollar forecast to join the world’s elite.
Once derided as the “Pacific peso,” the Australian dollar may by 2015 become an official global reserve currency, adding to underlying demand for a currency already considered overvalued by the nation’s exporters.''
read more
By Anthony Fensom
''Australia has long prided itself on “punching above its weight” in global sporting contests such as the Olympics. Now, the resource-rich nation of 22.6 million people and the world’s 12th biggest economy may see its currency do the same, with the Australian dollar forecast to join the world’s elite.
Once derided as the “Pacific peso,” the Australian dollar may by 2015 become an official global reserve currency, adding to underlying demand for a currency already considered overvalued by the nation’s exporters.''
read more
''A True-to-Life James Bond Villain''
From Strategic Culture
By Wayne Madsen
''Forget Dr. No, Goldfinger, and James Bond’s most recent enemy, Raoul Silva, a cyber-terrorist who can collapse economies and alter elections with a few computer keystrokes. The world’s most dangerous man to fair elections is not a James Bond villain, but the international frontier-hopping Hungarian known as Gyorgy Schwartz, also known as George Soros, the international currency manipulator and democracy troublemaker. Replace the letter «S» in his last name with dollar signs and one is left with «oro», the Spanish and Italian word for gold. The name «SOROS» is worthy of any arch-villain created by Ian Fleming to be Bond’s nemesis. ''
read more
By Wayne Madsen
''Forget Dr. No, Goldfinger, and James Bond’s most recent enemy, Raoul Silva, a cyber-terrorist who can collapse economies and alter elections with a few computer keystrokes. The world’s most dangerous man to fair elections is not a James Bond villain, but the international frontier-hopping Hungarian known as Gyorgy Schwartz, also known as George Soros, the international currency manipulator and democracy troublemaker. Replace the letter «S» in his last name with dollar signs and one is left with «oro», the Spanish and Italian word for gold. The name «SOROS» is worthy of any arch-villain created by Ian Fleming to be Bond’s nemesis. ''
read more
''China dismisses Brazil currency proposal at WTO, criticizes QE''
From Reuters
''China blamed quantitative easing for damaging emerging economies and rejected Brazil's proposal of using world trade rules to compensate for currency misalignments, during a debate at the WTO on Monday.
"We, together with many other countries, have been critics of this irresponsible and beggar-thy-neighbour policy," China's deputy permanent representative to the World Trade Organization, Zhu Hong, said, referring to the monetary stimulus policy often shortened to QE.''
read more
''China blamed quantitative easing for damaging emerging economies and rejected Brazil's proposal of using world trade rules to compensate for currency misalignments, during a debate at the WTO on Monday.
"We, together with many other countries, have been critics of this irresponsible and beggar-thy-neighbour policy," China's deputy permanent representative to the World Trade Organization, Zhu Hong, said, referring to the monetary stimulus policy often shortened to QE.''
read more
Gary North: ''Gold-Bugs And Anti-Gold-Bugs''
From ZeroHedge
''There is one overwhelming reason why the mainstream media ridicule gold as an investment and also gold as a monetary standard. To buy gold is to vote against the Federal Reserve System.
These days, we read that "gold is too high, so don't buy it." Did even one of these supposed investment experts on gold publicly tell people to buy gold when it was under $300? Of course not. Bill Bonner of Agora Publishing did in 2000. I did in October of 2001, immediately after 9-11.''
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''There is one overwhelming reason why the mainstream media ridicule gold as an investment and also gold as a monetary standard. To buy gold is to vote against the Federal Reserve System.
These days, we read that "gold is too high, so don't buy it." Did even one of these supposed investment experts on gold publicly tell people to buy gold when it was under $300? Of course not. Bill Bonner of Agora Publishing did in 2000. I did in October of 2001, immediately after 9-11.''
read more
''Welcome To The Currency War, Part 5: The U.S. Dollar Gets Serious Competition''
From ETF Daily News
By John Rubino
''Categorizing Canadian and Australian dollars as reserve currencies makes sense when you view those countries in terms of gold, oil, sunshine and other resources per citizen. By that measure, each Canadian and Australian dollar is backed by a lot more real value than are the currencies of the paper-dependent societies like the US, Europe and Japan. If, as seems likely, we’re in the early stages of a shift away from financial assets and towards real things, the relative strength, and currency exchange rates, of the better-run resource-based economies will keep improving, making their currencies less risky and more profitable investments.
Note that the Chinese renminbi (aka the yuan) and Singapore dollar aren’t on the list. But they will be soon, with China now the second biggest economy (and an aggressive importer of gold) and Singapore becoming the preferred destination of global savings (especially gold storage) now that Switzerland has been cracked by the IRS and other tax authorities.''
read more
By John Rubino
''Categorizing Canadian and Australian dollars as reserve currencies makes sense when you view those countries in terms of gold, oil, sunshine and other resources per citizen. By that measure, each Canadian and Australian dollar is backed by a lot more real value than are the currencies of the paper-dependent societies like the US, Europe and Japan. If, as seems likely, we’re in the early stages of a shift away from financial assets and towards real things, the relative strength, and currency exchange rates, of the better-run resource-based economies will keep improving, making their currencies less risky and more profitable investments.
Note that the Chinese renminbi (aka the yuan) and Singapore dollar aren’t on the list. But they will be soon, with China now the second biggest economy (and an aggressive importer of gold) and Singapore becoming the preferred destination of global savings (especially gold storage) now that Switzerland has been cracked by the IRS and other tax authorities.''
read more
''What price the new democracy? Goldman Sachs conquers Europe''
From The Independent
''The ascension of Mario Monti to the Italian prime ministership is remarkable for more reasons than it is possible to count. By replacing the scandal-surfing Silvio Berlusconi, Italy has dislodged the undislodgeable. By imposing rule by unelected technocrats, it has suspended the normal rules of democracy, and maybe democracy itself. And by putting a senior adviser at Goldman Sachs in charge of a Western nation, it has taken to new heights the political power of an investment bank that you might have thought was prohibitively politically toxic.
This is the most remarkable thing of all: a giant leap forward for, or perhaps even the successful culmination of, the Goldman Sachs Project.''
read more
''The ascension of Mario Monti to the Italian prime ministership is remarkable for more reasons than it is possible to count. By replacing the scandal-surfing Silvio Berlusconi, Italy has dislodged the undislodgeable. By imposing rule by unelected technocrats, it has suspended the normal rules of democracy, and maybe democracy itself. And by putting a senior adviser at Goldman Sachs in charge of a Western nation, it has taken to new heights the political power of an investment bank that you might have thought was prohibitively politically toxic.
This is the most remarkable thing of all: a giant leap forward for, or perhaps even the successful culmination of, the Goldman Sachs Project.''
read more
Silver: "A Manipulation Timeline''
From SilverSeek
By Ted Butler
''A friend and long-time subscriber who intends to write a book about the silver manipulation asked if I could provide him with a bit of history. To my mind, the silver manipulation dates back to early 1983, when the commercial traders grew confident that they could sell any quantity of paper short contracts to the technical fund buyers on the COMEX. By that time the commercials learned that technical fund buyers would never take physical delivery and could be counted on to buy or sell based upon price signals that the commercials could easily influence and control. In essence, the game has remained remarkably similar ever since.''
read more
By Ted Butler
''A friend and long-time subscriber who intends to write a book about the silver manipulation asked if I could provide him with a bit of history. To my mind, the silver manipulation dates back to early 1983, when the commercial traders grew confident that they could sell any quantity of paper short contracts to the technical fund buyers on the COMEX. By that time the commercials learned that technical fund buyers would never take physical delivery and could be counted on to buy or sell based upon price signals that the commercials could easily influence and control. In essence, the game has remained remarkably similar ever since.''
read more
Monday, November 26, 2012
''Photos Show Walmart Apparel at Site of Deadly Factory Fire in Bangladesh''
From The Nation
''NGOs are slamming Walmart following a Saturday fire that killed at least 112 workers at a Bangladesh factory supplying apparel to the retail giant. While Walmart says it has not confirmed that it has any relationship to the factory, photos provided to The Nation show piles of clothes made for one of its exclusive brands.''
read more
''NGOs are slamming Walmart following a Saturday fire that killed at least 112 workers at a Bangladesh factory supplying apparel to the retail giant. While Walmart says it has not confirmed that it has any relationship to the factory, photos provided to The Nation show piles of clothes made for one of its exclusive brands.''
read more
Bangladesh: "Western brands accused in Ashulia garment fire''
corporate greed...................From The Independent
''Western garment firms have been accused of hiding behind flimsy safety audits after the latest lethal garment factory fire in South Asia, where poorly paid workers often toil in dangerous conditions.
The night shift at the Tazreen Fashion plant outside the Bangladeshi capital Dhaka was hard at work when the blaze erupted late Saturday, killing 110 employees with many trapped inside unable to escape the flames and smoke.''
read more
''Western garment firms have been accused of hiding behind flimsy safety audits after the latest lethal garment factory fire in South Asia, where poorly paid workers often toil in dangerous conditions.
The night shift at the Tazreen Fashion plant outside the Bangladeshi capital Dhaka was hard at work when the blaze erupted late Saturday, killing 110 employees with many trapped inside unable to escape the flames and smoke.''
read more
''Egypt's Market Plunge, US Food Bank Drought, & Turkish Gold Trade w/Michael Krieger''
And is there any connection between protests in Egypt and a secession movement in Catalonia? The Catalan drive for independence from Spain grew as separatists saw gains in regional elections over the weekend. Is there a common economic theme underpinning unrest in Egypt, Spain, and the US? We ask Michael Krieger of Liberty Blitzkrieg if we are going to see more of this unrest in 2013.''
F. William Engdahl: ''No Wonder China is Nervous as Obama Pivots''
From VoltaireNet.org
''The looming confrontation will be even harsher that the previous ones. U.S. forces have been withdrawing from Europe and disengaging from the Middle East. They are currently clustering around China and developing a ballistic missile shield which - should it actually prove effective some day - would enable Washington to strike Beijing without fear of reprisal.''
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''The looming confrontation will be even harsher that the previous ones. U.S. forces have been withdrawing from Europe and disengaging from the Middle East. They are currently clustering around China and developing a ballistic missile shield which - should it actually prove effective some day - would enable Washington to strike Beijing without fear of reprisal.''
read more
''China transforming into gold bullion superpower on the sly''
From Mining.com
''As rumors fly that leading Western economies have exhausted their gold hoards, China has become the world's biggest gold producer while also discretely accumulating bullion reserves.''
read more
''As rumors fly that leading Western economies have exhausted their gold hoards, China has become the world's biggest gold producer while also discretely accumulating bullion reserves.''
read more
''Marc Faber Explains Unintended Consequences Of Money Printing & Favors Gold''
From GoldSilverWorlds
''Marc Faber is one of the very successful investors on earth. He recently explained his view on the monetary policies of the developed regions in the world. Obviously he is no fan of the Keynesian way of thinking which is applied by the central banks in the developed regions.''
read more
''Marc Faber is one of the very successful investors on earth. He recently explained his view on the monetary policies of the developed regions in the world. Obviously he is no fan of the Keynesian way of thinking which is applied by the central banks in the developed regions.''
read more
Max Keiser: ''US energy policy with Gregor Macdonald''
Sunday, November 25, 2012
Keiser Report: 'Colossal Collapse Coming!' (E371)
''China imports North Koreans to beat rising wages''
From Times Of India
''China is tackling labour shortage and rising wages by importing thousands of North Korean workers from across the border. The Chinese immigration has permitted a second batch of 20,000 workers bringing the total number of North Koreans in China to 40,000 in recent months, according to media reports.
Most imported labour is women because the North Korean government is wary of political dissidents escaping the country if more men are allowed. Besides, China wants to avoid a rush of North Korean men after violent incidents resulting in the death of some Chinese citizens in past.''
read more
''China is tackling labour shortage and rising wages by importing thousands of North Korean workers from across the border. The Chinese immigration has permitted a second batch of 20,000 workers bringing the total number of North Koreans in China to 40,000 in recent months, according to media reports.
Most imported labour is women because the North Korean government is wary of political dissidents escaping the country if more men are allowed. Besides, China wants to avoid a rush of North Korean men after violent incidents resulting in the death of some Chinese citizens in past.''
read more
''US intensifies military encirclement of China''
From Voice of Russia
"With the emergence of China as the world's second-largest economy and its concomitant renewal of (comparatively minor) territorial claims in the East China Sea and South China Sea, the stage is set for a U.S.-Chinese confrontation of a nature and on a scale not seen since before the Sino-Soviet split of 1960", Rick Rozoff, Stop Nato International.''
''In
the past decade the Pentagon has begun conducting annual multinational
military exercises in countries bordering China (Khaan Quest in
Mongolia, Steppe Eagle in Kazakhstan) and near it (Angkor Sentinel in
Cambodia), has with its NATO allies waged war and moved into bases in
nations bordering China - Afghanistan, Kyrgyzstan, Pakistan and
Tajikistan - as well as nearby Uzbekistan, and, even before the official
announcement of the strategic shift to the Asia-Pacific region,
acquired the use of new military facilities in Afghanistan, Kyrgyzstan,
Pakistan, Australia, Singapore and the Philippines.''
''Egypt is rocking, a new Pharaoh rises''
From Indian Punchline
MK Bhadrakumar
''Catching the tumult of a revolution on camera is virtually impossible — especially a revolution like the one Egypt which rolls on with no end in view. Another revolution in revolution is unfolding. The Chinese cameramen have caught some fantastic visuals as the banks of the Nile begin to heave again with seamless human passions. The Xinhua photo album is here.
MK Bhadrakumar
''Catching the tumult of a revolution on camera is virtually impossible — especially a revolution like the one Egypt which rolls on with no end in view. Another revolution in revolution is unfolding. The Chinese cameramen have caught some fantastic visuals as the banks of the Nile begin to heave again with seamless human passions. The Xinhua photo album is here.
Egypt is rocking. The country is being torn apart. The left has
become the right. The Muslim Brotherhood, which championed the underdog
has become the Establishment. And a New Left has appeared, comprising,
paradoxically, the western style liberals and centrists, secularists and
leftists — in fact, all else except the Islamists. ''
''The Impact of the Fiscal Cliff on the States''
From Pew
''The state impact of the fiscal cliff’s expiring federal tax provisions and scheduled spending cuts is missing from the national discussion. This study finds that the effects on the states vary greatly based on the extent to which states are tied to the federal tax code and federal spending.''
read more
''The state impact of the fiscal cliff’s expiring federal tax provisions and scheduled spending cuts is missing from the national discussion. This study finds that the effects on the states vary greatly based on the extent to which states are tied to the federal tax code and federal spending.''
read more
Silver: "A $50 Bill''
From SilverSeek
By Caption Hook
By Caption Hook
''It’s
funny more precious metals observers, investors, and even the ‘bugs’
don’t talk about it more. Silver suppression commentators have talked
about the various factors and machinations that keep silver ridiculously
cheap, but there hasn’t been enough discussion about the importance of
the $50 mark for silver. If you don’t know, it’s not just that it’s
double top resistance from a technical perspective. (See Figure 1 below.) No, far more important than this is the fate of the US empire / Western alliance and its dollar($)
hegemony / fiat currency based markets / economies lie in the balance
of silver remaining under this threshold. Or in other words everything
will change once an ounce of silver is priced above a $50 bill –
everything.''
''Skills Don’t Pay the Bills''
From NY Times
''Nearly six million factory jobs, almost a third of the entire manufacturing industry, have disappeared since 2000. And while many of these jobs were lost to competition with low-wage countries, even more vanished because of computer-driven machinery that can do the work of 10, or in some cases, 100 workers. Those jobs are not coming back, but many believe that the industry’s future (and, to some extent, the future of the American economy) lies in training a new generation for highly skilled manufacturing jobs — the ones that require people who know how to run the computer that runs the machine.''
read more
''Nearly six million factory jobs, almost a third of the entire manufacturing industry, have disappeared since 2000. And while many of these jobs were lost to competition with low-wage countries, even more vanished because of computer-driven machinery that can do the work of 10, or in some cases, 100 workers. Those jobs are not coming back, but many believe that the industry’s future (and, to some extent, the future of the American economy) lies in training a new generation for highly skilled manufacturing jobs — the ones that require people who know how to run the computer that runs the machine.''
read more
''Do Deficits Matter?''
From GoldNews
''THERE ARE the dumb US deficit deniers, writes Daily Reckoning founder Bill Bonner, and then there are the smart US deficit deniers.
Anatole Kaletsky is one of the smart ones. But even the smart ones make us wonder.
Do deficits really matter? Dick Cheney said they didn't. Apparently, Ronald Reagan didn't think they mattered. Today's big federal debt got its first big growth spurt during Reagan's first term.
And here comes Kaletsky with a prediction. When the Republicans realize that the only way they can cut the US deficit is by raising taxes, they won't think deficits matter either.''
read more
''THERE ARE the dumb US deficit deniers, writes Daily Reckoning founder Bill Bonner, and then there are the smart US deficit deniers.
Anatole Kaletsky is one of the smart ones. But even the smart ones make us wonder.
Do deficits really matter? Dick Cheney said they didn't. Apparently, Ronald Reagan didn't think they mattered. Today's big federal debt got its first big growth spurt during Reagan's first term.
And here comes Kaletsky with a prediction. When the Republicans realize that the only way they can cut the US deficit is by raising taxes, they won't think deficits matter either.''
read more
''The Rise of “Sub-Imperialism”
From CounterPunch
''The heads of state of the Brazil-Russia-India-China-South Africa BRICS network are coming to Durban in four months, meeting on 26-27 March at the International Convention Centre (ICC), Africa’s largest venue. Given their recent performance, it is reasonable to expect another ‘1%’ summit, wreaking socio-economic and ecological havoc. And that means it is time for the first BRICS counter-summit, to critique top-down ‘sub-imperialist’ bloc formation, and to offer bottom-up alternatives.''
read more
''The heads of state of the Brazil-Russia-India-China-South Africa BRICS network are coming to Durban in four months, meeting on 26-27 March at the International Convention Centre (ICC), Africa’s largest venue. Given their recent performance, it is reasonable to expect another ‘1%’ summit, wreaking socio-economic and ecological havoc. And that means it is time for the first BRICS counter-summit, to critique top-down ‘sub-imperialist’ bloc formation, and to offer bottom-up alternatives.''
read more
9/11: ''Saving the Saudis''
From Wes Jones/Craig Unger
''Just days after 9/11, wealthy Saudi Arabians, including members of the bin Laden family, were whisked out of the U.S. on private jets. No one will admit to clearing the flights, and the passengers weren't questioned. Did the Bush family's long relationship with the Saudis make it happen?''
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''Just days after 9/11, wealthy Saudi Arabians, including members of the bin Laden family, were whisked out of the U.S. on private jets. No one will admit to clearing the flights, and the passengers weren't questioned. Did the Bush family's long relationship with the Saudis make it happen?''
read more
Saturday, November 24, 2012
''Egypt ‘pharaoh’ Morsi faces youth juggernaut''
From Ahram Online
''The subdued nature of Cairo’s underground was interrupted Friday when the train stopped at the station located in the iconic Tahrir Square. A man in his 30s was berating Egypt President Mohamed Morsi with little opposition from passengers.
“Morsi thinks he is a prophet. No, even the prophet did not have such powers,” the man, bristling with anger, shouted after taking part in protests against a stunning decision by the president to maximise his powers.
“Didn’t he learn from what happened to Mubarak? He may face the same fate. It’s not that difficult. Another revolution is on the cards,” he added, excited to start a debate that never materialised. The glum-looking passengers had no appetite to either defend or attack Morsi.''
read more
''The subdued nature of Cairo’s underground was interrupted Friday when the train stopped at the station located in the iconic Tahrir Square. A man in his 30s was berating Egypt President Mohamed Morsi with little opposition from passengers.
“Morsi thinks he is a prophet. No, even the prophet did not have such powers,” the man, bristling with anger, shouted after taking part in protests against a stunning decision by the president to maximise his powers.
“Didn’t he learn from what happened to Mubarak? He may face the same fate. It’s not that difficult. Another revolution is on the cards,” he added, excited to start a debate that never materialised. The glum-looking passengers had no appetite to either defend or attack Morsi.''
read more
Keiser Report: ''Shadow Banking (E370)''
''The US-Israeli Attack on Gaza''
From Global Research
By Professor Michael Chossudovsky
''There is evidence that Operation “Pillar of Cloud” was implemented in close liaison with Washington in the context of the broader process of allied military planning. Senior US military officials were on location in Israel working with their IDF counterparts in the days leading up to the attack.
Operation “Pillar of Cloud” was launched on the 14th of November, exactly one week after the US presidential elections. It was slated to be launched irrespective of the outcome of the US elections. The first action was the targeted assassination of the leader of Hamas’ military wing Ahmed Jabari. The operation has since evolved towards a generalized bombing campaign and ground invasion involving the announced deployment of some 75,000 Israeli troops.''
read more
By Professor Michael Chossudovsky
''There is evidence that Operation “Pillar of Cloud” was implemented in close liaison with Washington in the context of the broader process of allied military planning. Senior US military officials were on location in Israel working with their IDF counterparts in the days leading up to the attack.
Operation “Pillar of Cloud” was launched on the 14th of November, exactly one week after the US presidential elections. It was slated to be launched irrespective of the outcome of the US elections. The first action was the targeted assassination of the leader of Hamas’ military wing Ahmed Jabari. The operation has since evolved towards a generalized bombing campaign and ground invasion involving the announced deployment of some 75,000 Israeli troops.''
read more
''Give Thanks for Low Food Prices as They’ll Rise Next Year''
From Bloomberg
''Americans may want to freeze the leftovers from Thanksgiving dinner, as retail food prices are expected to rise next year, sparked by the country’s worst drought in more than half a century.
Next year, retail poultry prices are projected to increase as much as 4 percent, beef by 5 percent and dairy products by 4.5 percent because of higher feed prices and as herds thinned by the drought tighten supplies, the U.S. Department of Agriculture said.''
read more
''Americans may want to freeze the leftovers from Thanksgiving dinner, as retail food prices are expected to rise next year, sparked by the country’s worst drought in more than half a century.
Next year, retail poultry prices are projected to increase as much as 4 percent, beef by 5 percent and dairy products by 4.5 percent because of higher feed prices and as herds thinned by the drought tighten supplies, the U.S. Department of Agriculture said.''
read more
Pepe Escobar: ''Obama the Pivot''
From Asia Times
''The fabulous reclining Buddha at Wat Pho in Bangkok does not exactly subscribe to drone wars and "targeted assassinations" - not to mention bombing of civilian infrastructure. So the Buddha may have been puzzled - to say the least - when US President Barack Obama, right at the start of his whirlwind "pivoting" tour of Southeast Asia, and referring to Israel and Gaza, came up with this: "There is no country on earth that would tolerate missiles raining down on its citizens from outside its borders."
read more
''The fabulous reclining Buddha at Wat Pho in Bangkok does not exactly subscribe to drone wars and "targeted assassinations" - not to mention bombing of civilian infrastructure. So the Buddha may have been puzzled - to say the least - when US President Barack Obama, right at the start of his whirlwind "pivoting" tour of Southeast Asia, and referring to Israel and Gaza, came up with this: "There is no country on earth that would tolerate missiles raining down on its citizens from outside its borders."
read more
''India’s Failing Facade of “Democracy”
From 'There are no Sunglasses'
''A few days ago, internet giant Google revealed that the Indian government has made the second largest number of requests (they say demand) for information about web users in the world. If it is any solace, the country that beat us in the number of requests is the United States. I don’t know whether there is a link or not, but we are increasingly becoming a state whose tolerance levels are worse than the authoritarian regimes that we scoff at.''
read more
''A few days ago, internet giant Google revealed that the Indian government has made the second largest number of requests (they say demand) for information about web users in the world. If it is any solace, the country that beat us in the number of requests is the United States. I don’t know whether there is a link or not, but we are increasingly becoming a state whose tolerance levels are worse than the authoritarian regimes that we scoff at.''
read more
''A gluten-free diet: gimmick or godsend?''
From Voice of Russia
''No gluten please. This is not another consumer fad diet but many people are trying it. It’s not a new way to save money on groceries as it’ll cost a pretty penny. And yet a growing number of people in America are buying up gluten free products. Celiac disease is really the culprit, with over 300 symptoms connected to the disease, with one in every 141 Americans undiagnosed with it. Is gluten free a way to live healthier or should people without the disease back away from the goods altogether?''
read more
''The Phoney Fiscal Cliff''
From New Left Project
''Will the economic priorities of the 1% and the military industrial complex continue to be served? Or will the priorities of the rest of us get more attention? There is no reason we must embrace austerity for the 99% -- raise taxes on the middle class and cut socially useful spending – because we face a fiscal cliff that is imposed by some nonexistent “iron law” of economics. The only reason we face a fiscal cliff is that the 1% and the military industrial complex insist that their priorities continue to be paramount. In other words, there is no ECONOMIC cliff, there is only a POLITICAL cliff of competing priorities.''
read more
''Will the economic priorities of the 1% and the military industrial complex continue to be served? Or will the priorities of the rest of us get more attention? There is no reason we must embrace austerity for the 99% -- raise taxes on the middle class and cut socially useful spending – because we face a fiscal cliff that is imposed by some nonexistent “iron law” of economics. The only reason we face a fiscal cliff is that the 1% and the military industrial complex insist that their priorities continue to be paramount. In other words, there is no ECONOMIC cliff, there is only a POLITICAL cliff of competing priorities.''
read more
Pat Buchanan: ''Is Middle East Peace A Mirage''
From Pat Buchanan.org
''With the truce in the week-long Gaza war, Barack Obama is being prompted by right and left to re-engage and renew U.S. efforts to solve the core question of Middle East peace.
Before he gets reinvolved in peacemaking, our once-burned president should ask himself some hard questions.
Is real peace between Palestinians and Israelis even possible?''
read more
''With the truce in the week-long Gaza war, Barack Obama is being prompted by right and left to re-engage and renew U.S. efforts to solve the core question of Middle East peace.
Before he gets reinvolved in peacemaking, our once-burned president should ask himself some hard questions.
Is real peace between Palestinians and Israelis even possible?''
read more
Friday, November 23, 2012
''Permanent War Doctrine''
paid for by the American taxpayer.................From Phantom Report
''Obama II has a brand new type of war in store; welcome the ‘Permanent War Doctrine’. The new ‘permanent war on terror’ has four weapons of choice: the signature weapon is the unmanned aerial vehicle (UAV), the drone aircraft.
Second is direct action undertaken by Special Forces. Third is the transformation of the Central Intelligence Agency (CIA) into a paramilitary, tracking and targeting assassination squad and, fourth, is cyber warfare (under the ‘Permanent War Doctrine’ all or most of America’s conventional forces head back home from theatres in Iraq and Afghanistan).''
read more
''Obama II has a brand new type of war in store; welcome the ‘Permanent War Doctrine’. The new ‘permanent war on terror’ has four weapons of choice: the signature weapon is the unmanned aerial vehicle (UAV), the drone aircraft.
Second is direct action undertaken by Special Forces. Third is the transformation of the Central Intelligence Agency (CIA) into a paramilitary, tracking and targeting assassination squad and, fourth, is cyber warfare (under the ‘Permanent War Doctrine’ all or most of America’s conventional forces head back home from theatres in Iraq and Afghanistan).''
read more
''Russia to deploy new ballistic missile in response to Washington's missile defense''
From Voice of Russia
''Russia to deploy new ballistic missile in response to Washington's missile defense
Turkey asked NATO to deploy Patriot missiles on Syrian border
Suicides in the US military break record levels
Detroit, much like America, could be bankrupt in 6 weeks''
Listen Here
Turkey asked NATO to deploy Patriot missiles on Syrian border
Suicides in the US military break record levels
Detroit, much like America, could be bankrupt in 6 weeks''
Listen Here
“We are in a financial holocaust”, radical journalist Max Keiser says in Parliament''
max keiser is a rock star....................From London Loves Business
''The economic crisis has led to a “financial holocaust” which will lead to millions of deaths, said Max Keiser, the outspoken activist and financial presenter for the Russia Today television channel.
On invitation from Respect MP George Galloway to deliver an address on “the coming currency collapse” on Tuesday night in Parliament’s Westminster Hall, Keiser spoke of inviting HBOS whistle-blower and former head of risk Paul Moore onto his show.
“Over 100 million people have been thrust back into the poverty. That had its nexus in the City of London.''
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''The economic crisis has led to a “financial holocaust” which will lead to millions of deaths, said Max Keiser, the outspoken activist and financial presenter for the Russia Today television channel.
On invitation from Respect MP George Galloway to deliver an address on “the coming currency collapse” on Tuesday night in Parliament’s Westminster Hall, Keiser spoke of inviting HBOS whistle-blower and former head of risk Paul Moore onto his show.
“Over 100 million people have been thrust back into the poverty. That had its nexus in the City of London.''
read more
''Is Congress Guilty of the Largest Insider-Trading Scheme Ever?''
From The New American
''Mathew Martoma, age 38, was arrested at his home in Boca Raton, Florida, early Tuesday morning by the FBI and charged with insider trading. U.S. Attorney Preet Bharara, whose face appeared on the cover of Time magazine last February as the “man who is busting Wall Street,” was positively joyful in announcing the bust:
''Mathew Martoma, age 38, was arrested at his home in Boca Raton, Florida, early Tuesday morning by the FBI and charged with insider trading. U.S. Attorney Preet Bharara, whose face appeared on the cover of Time magazine last February as the “man who is busting Wall Street,” was positively joyful in announcing the bust:
The charges unsealed today describe
cheating coming and going — specifically, insider trading first on the
long side, and then on the short side, on a scale that has no historical
precedent.
As a result of the blatant corruption of
both the drug research and securities markets alleged, the hedge fund
[for whom Martoma worked at the time] made profits and avoided losses of
a staggering $276 million, and Martoma himself walked away with a $9
million bonus for his efforts.''
''Illinois unfunded pension liability hits $96.8 billion''
From Chicago Tribune
''Illinois' unfunded public pension liability jumped to $96.8 billion at the end of fiscal
2012, up from $83 billion in fiscal 2011, a state legislative
agency reported on Wednesday, as the state's funded ratio fell
further below levels considered healthy.''
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''Illinois' unfunded public pension liability jumped to $96.8 billion at the end of fiscal
2012, up from $83 billion in fiscal 2011, a state legislative
agency reported on Wednesday, as the state's funded ratio fell
further below levels considered healthy.''
read more
''An Inconvient Truth About Lincoln''
From NakedCapitalism
''Over this Thanksgiving week, you may find yourself in a movie theater watching Steven Spielberg’s treatment of Abraham Lincoln and the battle to pass the 13th Amerndment, which abolished slavery once and for all. There’s much to be said for Lincoln: marvelous acting, less mythologizing than usual, and a fascinating window into raucous realpolitik. Spielberg’s film stands several cuts above any movie depiction of the Lincoln presidency you’re likely to see.''
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''Over this Thanksgiving week, you may find yourself in a movie theater watching Steven Spielberg’s treatment of Abraham Lincoln and the battle to pass the 13th Amerndment, which abolished slavery once and for all. There’s much to be said for Lincoln: marvelous acting, less mythologizing than usual, and a fascinating window into raucous realpolitik. Spielberg’s film stands several cuts above any movie depiction of the Lincoln presidency you’re likely to see.''
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''What Marc Faber Said to the LBMA About Gold''
From LewRockwell.com
''The ANNUAL CONFERENCE of the London Bullion Market Association always includes great presentations from the biggest players in gold and silver, writes Adrian Ash at BullionVault.
Being in Hong Kong this year, the world's premier event for the bullion industry also got lots of great insights from genuine Asian insiders – ICBC, Kotak Mahindra, the People's Bank of China no less.
"When the People's Bank speaks it pays to listen," as Tom Kendall of Credit Suisse put it in his conference summary.
"Especially when it talks about gold."
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''The ANNUAL CONFERENCE of the London Bullion Market Association always includes great presentations from the biggest players in gold and silver, writes Adrian Ash at BullionVault.
Being in Hong Kong this year, the world's premier event for the bullion industry also got lots of great insights from genuine Asian insiders – ICBC, Kotak Mahindra, the People's Bank of China no less.
"When the People's Bank speaks it pays to listen," as Tom Kendall of Credit Suisse put it in his conference summary.
"Especially when it talks about gold."
read more
''H.L. Hunt's Boys and the Circle K Cowboys''
From Gold-Eagle.com
''Back in the 1980's some of you may remember that a Texas oil dynasty tried to buy a little silver in between their oil deals. The tale of H.L. Hunt and his family (at one time possibly the richest family in the US) is the stuff of legends in the South. While this is the story of the silver deals of the sons of the 1st family a little family background makes for a better story.''
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''Back in the 1980's some of you may remember that a Texas oil dynasty tried to buy a little silver in between their oil deals. The tale of H.L. Hunt and his family (at one time possibly the richest family in the US) is the stuff of legends in the South. While this is the story of the silver deals of the sons of the 1st family a little family background makes for a better story.''
read more
''David Rosenberg supports loonie as reserve currency''
From FinancialPost
''David Rosenberg is throwing his support behind the Canadian dollar being included as a reserve currency at the IMF.
The chief economist and strategist at Gluskin Sheff + Associates noted that the loonie has already become a de facto global currency as central banks continue to add Canadian dollars to their reserve portfolios.
He said this reflects Canada’s growing importance in the global economy, its prudent monetary policy, a truly AAA sovereign rating and a pro-business majority government.''
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''David Rosenberg is throwing his support behind the Canadian dollar being included as a reserve currency at the IMF.
The chief economist and strategist at Gluskin Sheff + Associates noted that the loonie has already become a de facto global currency as central banks continue to add Canadian dollars to their reserve portfolios.
He said this reflects Canada’s growing importance in the global economy, its prudent monetary policy, a truly AAA sovereign rating and a pro-business majority government.''
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Thursday, November 22, 2012
Wednesday, November 21, 2012
''A Conversation with Gen. David Petraeus''
The event was a conversation between Petraeus and Mike Newton, Vanderbilt professor of the practice of law. Newton is a West Point graduate who is an international legal adviser to the Iraqis and was one of the small team of international experts who taught them international criminal law and assisted with the trials. The conversation was sponsored by the International Legal Studies Program and the College of Arts and Science.''
''Hunt brothers sacrificed to save the US dollar says Mike Maloney''
Maloney states that there will be a great financial crisis within this decade with the fear of subsequent political upheaval. Looking at the acceleration in the money supply both men agree that gold remains undervalued and under-owned. They talk about possible issues with gold ETFs and point out the need to own actual physical bullion instead of paper claims on gold in order to avoid counterparty risk. Maloney emphasises that compared to the bull market in the 1980s, the current bull market in gold is taking place on a global stage with much higher participation and therefore price potential.
Maloney is very bullish on silver and expects the gold to silver ratio to narrow towards 12:1 as the market will try to rebalance the value of those two currencies according to their rarity. At some point gold will get too expensive for the common man making silver the more affordable option. They also discuss how much impact the Hunt brothers actually had on the price of silver in 1980 and how the bull market ended.''
''The Revolving Door from the Pentagon to the Private Sector''
From GRTV
''What do Lockheed Martin, Boeing, General Dynamics, Raytheon, and Northrop Grumman have in common? Each of these corporations is one of the top five largest defense contractors in the nation. In 2011 alone, the Department of Defense committed to spending nearly $100 billion with just these five companies. To put that in perspective, that is about the same amount spent on the entire federal education budget for 2011.''
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''What do Lockheed Martin, Boeing, General Dynamics, Raytheon, and Northrop Grumman have in common? Each of these corporations is one of the top five largest defense contractors in the nation. In 2011 alone, the Department of Defense committed to spending nearly $100 billion with just these five companies. To put that in perspective, that is about the same amount spent on the entire federal education budget for 2011.''
read more
''The Secret War Between China and the US for Africa's Oil Riches''
From OilPrice.com
By Zachary Fillingham
''In the struggle to secure energy resources, the great powers consider all states to be fair game. Indeed, this is precisely what characterizes American foreign policy in the modern era. When it comes to economic and geopolitical interests, Washington seldom differentiates between democratic leaders and despots, especially when those interests involve oil. Currently, the stakes are high in the rush to secure oil resources and nowhere is this more evident than in the Sino-American rivalry in Africa. Both states are competing to secure their share of oil supplies in order to quench their addiction to the coveted ‘black gold.’''
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By Zachary Fillingham
''In the struggle to secure energy resources, the great powers consider all states to be fair game. Indeed, this is precisely what characterizes American foreign policy in the modern era. When it comes to economic and geopolitical interests, Washington seldom differentiates between democratic leaders and despots, especially when those interests involve oil. Currently, the stakes are high in the rush to secure oil resources and nowhere is this more evident than in the Sino-American rivalry in Africa. Both states are competing to secure their share of oil supplies in order to quench their addiction to the coveted ‘black gold.’''
read more
Keiser Report: ''Twinkies, Finance, Scandal'' (E369) (3rd Anniversary Edition)
''The Fall of the American Empire (Writ Small)''
From TomDispatch
By Tom Engelhardt
''History, it is said, arrives first as tragedy, then as farce. First as Karl Marx, then as the Marx Brothers. In the case of twenty-first century America, history arrived first as George W. Bush (and Dick Cheney and Donald Rumsfeld and Paul Wolfowitz and Douglas Feith and the Project for a New America -- a shadow government masquerading as a think tank -- and an assorted crew of ambitious neocons and neo-pundits); only later did David Petraeus make it onto the scene.''
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By Tom Engelhardt
''History, it is said, arrives first as tragedy, then as farce. First as Karl Marx, then as the Marx Brothers. In the case of twenty-first century America, history arrived first as George W. Bush (and Dick Cheney and Donald Rumsfeld and Paul Wolfowitz and Douglas Feith and the Project for a New America -- a shadow government masquerading as a think tank -- and an assorted crew of ambitious neocons and neo-pundits); only later did David Petraeus make it onto the scene.''
read more
''Gold bugs find the shine in precious metal''
From MarketPlace.org
By Paul Sullivan
''When you think vault filled with gold, you might imagine Fort Knox or maybe Gringott's Wizarding bank from Harry Potter -- dark and mysterious with elaborate locks. The reality is a lot less glamorous.
My gold vault journey started in a rather plain office in a rather plain building in midtown Manhattan. I had to hand over my wallet, jacket, cell phone, and my recording equipment -- so you'll just have to take my word for what happened next.''
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By Paul Sullivan
''When you think vault filled with gold, you might imagine Fort Knox or maybe Gringott's Wizarding bank from Harry Potter -- dark and mysterious with elaborate locks. The reality is a lot less glamorous.
My gold vault journey started in a rather plain office in a rather plain building in midtown Manhattan. I had to hand over my wallet, jacket, cell phone, and my recording equipment -- so you'll just have to take my word for what happened next.''
read more
Freegold: ''Gold bubble or new monetary paradigm?''
a MUST READ...................From Bullion Baron
''Freegold, not FREE Gold (sorry to disappoint!). Freegold (or Reference Point Gold, RPG) is an environment where Gold is set free from the bounds of a fiat price, where it is used solely as a store of value and reference point for all other currencies. The 'price' of Gold floats freely in all currencies or as defined on Wikipedia:''
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''Freegold, not FREE Gold (sorry to disappoint!). Freegold (or Reference Point Gold, RPG) is an environment where Gold is set free from the bounds of a fiat price, where it is used solely as a store of value and reference point for all other currencies. The 'price' of Gold floats freely in all currencies or as defined on Wikipedia:''
''Freegold derives its name from a monetary environment where gold is set free, and has no function as money. Gold is demonetized, and has one function only: a store of value. The function of legal tender changes only slightly: it is a medium of exchange and unit of account, but stripped of the store of value function. In this environment, currency and freegold will coexist to supplement each other, without interacting with each other.''
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Tuesday, November 20, 2012
Wayne Madsen: ''The Assads: Washington’s one-time favorite family in Damascus''
From Strategic Culture
''Archived declassified files from the Central Intelligence Agency point to successive U.S. administrations supporting Syria’s long-serving President Hafez al-Assad, the father of current President Bashar al-Assad, as a bulwark against Arab radicals. Israel also recognized Hafez al-Assad as the “most pragmatic” of all the Arab leaders of his day…''
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''Archived declassified files from the Central Intelligence Agency point to successive U.S. administrations supporting Syria’s long-serving President Hafez al-Assad, the father of current President Bashar al-Assad, as a bulwark against Arab radicals. Israel also recognized Hafez al-Assad as the “most pragmatic” of all the Arab leaders of his day…''
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