The American Empire in a Changing World


Friday, December 28, 2012

Quotes and Comments

 Some of our favorite quotes and comments from around the web.......all relating to the dollar and the banking system............ENJOY

From JR, and the ZeroHedge comments more
''The bankers own the currency, make as much as they want, give it to whomever they want, start industries that they and their friends want, and swoop down and stop any business they want…

By using a debt-based monetary system, the bankers have dictated that all functions of the society are related to the use of their currency – your job, your education, your family’s future, your provisions for old age ---all depend on their currency. In the old days, it depended primarily on your labor and the decisions you made regarding your life.

The bankers use control of America’s money for their own personal power. It’s so primitive: everything we the people do, we must use their paper to do it.

It’s not banking, per se, it’s the criminal families who control the money and decide who gets it. They are not bankers; they are crass criminals who have designed this system to produce for themselves wealth and power. They are only pretending to be civil custodians of the currency.

What more evidence do we need? As Tyler puts it, ”Nuf said.”

Unfortunately for the banking elite, they are destroying their own future by co-opting too many second stage criminals taking advantage of the system – and a major group of those criminals are the politicians.''


a comment from Timothy from a (Gary North Article) more

''Fractional reserve banking is a dishonest system. It is responsible for (the cause of) almost every banking panic ever. It is dishonest, and it also causes rampant overspeculation and malinvestment. Why is that you ask? Because no one spends other people's money as carefully as they spend their own. How can you possibly, loan out money to one person and leave that same money in another persons account? According to everything I have ever known about the physical universe, there is no magic. When you loan out money from an account, it is gone until it is payed back. To pretend it is still in an account after it has been loaned to someone else is fraud and should not be allowed. In an honest system you would have to agree to allow the use of the money deposited for a certain amount of time in order for the bank to loan it out. Then they would have to split the profits with you for the permission of using the money for that time.''


FOA....................... "My friend, debt is the very essence of fiat. As debt defaults, fiat is destroyed. This is where all these deflationists get their direction. Not seeing that hyperinflation is the process of saving debt at all costs, even buying it outright for cash. Deflation is impossible in today's dollar terms because policy will allow the printing of cash, if necessary, to cover every last bit of debt and dumping it on your front lawn! (smile) Worthless dollars, of course, but no deflation in dollar terms! (bigger smile)"

Richard more

''They are the secretive bankers who created the Federal Reserve. The Fed was created by bankers and for bankers. As recently announced by Ben Bernanke, the Fed will buy $40 billion a month of mortgage-backed securities from the banks. In this way, the Fed will take these junk mortgage-backed securities from the banks and in return give the banks dollars. Thus, they will reliquify the banks with acceptable money, while taking these junk mortgage-backed securities off the hands of the banks.''


from 'i fly me', Zerohedge more

......''Fiat isn't the problem.  Saving your excess production in the same thing being fractionalized and loaned is the problem.''

from nuinut and a zerohedge more

''The euro is not freegold; the euro is a currency compatible with freegold.

Freegold is simply the absence of gold denominated credit (aka paper gold) in the market.

The euro is compatible with this because (as you can easily see if you care to look at this week's ECB consolidated financial statement) market price gold values the euro, and the ECB (issuer of the euro) are publicly acknowledging this. This means the users of the euro value the euro, not the ECB. If the users of the euro think it is overvalued, they will buy gold with it, and in doing so bid up the price of gold in euros. Pretty straightforward.''


From PUD, a Zerohedge more

''It's all moot in a debt as money system when the cost of debt carry meets peak debt. The singular problem is debt based money and the requirement it has for perpetual compounding exponential growth. It's all math and has nothing what so ever to do with policy. This is why there is no fix.''


Ben Bernanke.....................''As a scholar of the Great Depression, I honestly believe that September and October of 2008 was the worst financial crisis in global history, including the Great Depression …Out of maybe the 13 of the most important financial institutions in the United States, 12 were at risk of failure within a period of a week or two.''.........................from REPO more


From Charles Hugh Smith via a ZeroHedge more

''In my analysis, this is the direct consequence of the supremacy of a consumerism that is dependent on financialization: an economy dependent on debt-fueled consumption to power its "endless growth" is one that will necessarily implode from its internal contradictions: debt and leverage eventually exceed the carrying capacity of the collateral and the national income, and the narcissism of consumerism leads to social recession, a crippling state of "suspended animation" adolescence and great personal frustration and unhappiness.

The ultimate contradiction in this debt-consumption version of capitalism is this: how can an economy have "endless expansion and growth" when pay and opportunities for secure, high-paying jobs are both relentlessly declining? It cannot. Financialization, consumerist narcissism and the end of growth are inextricably linked.''


The Triffin Dilemma.........

From Richard Mills and The Market Oracle more

''When a national currency also serves as an international reserve currency conflicts between a country's national monetary policy and its global monetary policy will arise.

"In October of 1959, a Yale professor sat in front of Congress' Joint Economic Committee and calmly announced that the Bretton Woods system was doomed. The dollar could not survive as the world's reserve currency without requiring the United States to run ever-growing deficits. This dismal scientist was Belgium-born Robert Triffin, and he was right. The Bretton Woods system collapsed in 1971, and today the dollar's role as the reserve currency has the United States running the largest current account deficit in the world.

By "agreeing" to have its currency used as a reserve currency, a country pins its hands behind its back. In order to keep the global economy chugging along, it may have to inject large amounts of currency into circulation, driving up inflation at home. The more popular the reserve currency is relative to other currencies, the higher its exchange rate and the less competitive domestic exporting industries become. This causes a trade deficit for the currency-issuing country, but makes the world happy. If the reserve currency country instead decides to focus on domestic monetary policy by not issuing more currency then the world is unhappy.

Becoming a reserve currency presents countries with a paradox. They want the "interest-free" loan generated by selling currency to foreign governments, and the ability to raise capital quickly, because of high demand for reserve currency-denominated bonds. At the same time they want to be able to use capital and monetary policy to ensure that domestic industries are competitive in the world market, and to make sure that the domestic economy is healthy and not running large trade deficits.''


From more 

...............''the US runs a trade deficit. It has done for decades. US trade deficits supply global liquidity. Excess US Dollars flow to Middle Eastern oil producers, Chinese widget manufacturers and Japanese car makers.

What do you think would happen if the US suddenly became competitive and financially prudent? What if it started producing trade surpluses? It would be disastrous for the global economy. Global liquidity would dry up...there would be a massive credit crunch.

So the system depends on US profligacy. The US may enjoy an 'exorbitant privilege' in the words of former French President Charles De Gaulle , but it's one that has benefitted - and we use that term loosely - the world in terms of delivering debt-based economic growth.

But for how much longer? Triffin identified the problem way back in the 1960s. Since then nothing has changed. The dilemma is now so big that it can't be undone or reversed. The dual role of the US Dollar as national and international currency is no longer viable.''


From more

 “Funny” quote from Casey Research.

"The world will soon wake up to the reality that everyone is broke and can collect nothing from the bankrupt, who are owed unlimited amounts by the insolvent, who are attempting to make late payments on a bank holiday in the wrong country, with an unacceptable currency, against defaulted collateral, of which nobody is sure who holds title." 


From Tyler Durden and more

''And hard evidence, or better yet a paper trail of inconsistencies, is absolutely paramount when juxtaposing the two most powerful forces of our times: i) the central banking-led status quo (which is de facto the banker-led oligarchy whose primary purpose in the past several centuries has been to accumulate as much as possible of the hard asset-based fruits of people's labor, who toil in exchange for "money" created out of thin air - a process which could be described as not quite voluntary slavery, but the phrase would certainly suffice), and ii) "everyone else", especially when "everyone else" still believes in the supremacy of democratic forces, accountability, and an impartial legal system (three pillars of modern society which over the past 4 years we have experienced time and again have been nothing but mirages).''


From Chris Martenson Blog via Turd more

''The vast bulk of the assets in our financial system are actually forms of debt.  One person’s debt is another person’s asset.  I owe you and you hold the debt note.  The banking system in particular holds most of the world’s debts as assets on its books.  Your mortgage liability is their asset. 
Similarly, money market funds that invest your cash in corporate and sovereign debt, insurance companies, endowments, and pension funds all do this, too.
Just considering the debt side of this story, what would happen if the world’s debts suddenly became worth less, or even 'worthless'?  Every entity in the list above would suffer losses and possibly bankruptcy.  Without asset inflation, it would all come crashing down:
Municipal pensions would be ruined and unable to meet their obligations
State pensions: ditto
Corporate pensions: ditto, again
Money market funds would 'break the buck'
Endowments would get eviscerated
Insurance companies would go bankrupt
Annuities would fail
And those are just some of the immediate financial impacts of a deflationary spiral.  The political and social impacts would be just as great, with careers ruined and unpredictable national directions taken.
So keeping the debt and equity markets well and truly propped up is right at the top of the list of ‘things to do’ for every central bank on the planet.
The problem with the story, as I am sure you are aware, is that the whole system of money and debt simply has to keep expanding exponentially for all of this to work out.
Nobody in any position of power, at the Fed or elsewhere, has yet explained how infinite exponential expansion will be achieved.''

From SPYKERSPEED and more

''While I love gold, and I think it will never go away as a store of value, Bitcoin is a superior money.  It has several advantages over gold, including the fact it's instantly transmitable over distances (internet), impossible to fake (unlike gold which can be filled with tungsten), and most importantly it is impossible to steal with physical force.  Bitcoin is protected by powerful 256 bit encryption.  So a government can't simply break into your house and get your bitcoin like they can your gold.  Other advantages of Bitcoin:  it's extremely divisible (each bitcoin can be broken into 100 million parts, unlike a dollar which can only be broken into cents), it is impossible for any government to shut down the Bitcoin network because it's entirely decentralized P2P software, and there will only be 21,000,000 bitcoins - ever.  The software makes it impossible to add more coins, and anyone who attempts to do this will be rejected by the network.''


from a comment (fredquimby) and a ZeroHedge more

''My fav FOFOAism haha:
"There are four key aspects to Freegold. There are also many more, but these four are key. That's not to say they are all necessary. They are not. But it is to say that in order to understand Freegold you must at least understand the significance of these conditions:
1. The end of the dollar standard (the end of its timeline as the main global reserve currency)
2. The end of parity between paper gold price discovery and physical gold price discovery
3. The Euro-Freegold concept/project, (at least) 31 years in the making
4. The flow of oil "


a comment from 'pud' on a zerohedge more

''Money as debt. The very fundamental nature of credit money is the root cause of everything. This is a fact which is totally absent from the thinking of everyone. All money is debt. Debt carries interest. Interest requires more debt money goes exponential at some point of saturation. This is why things are as they are. Every other discussion from MMT to gold is a sidebar.''


from 'Pat Fields' and more

''That’s bulls**t. The underlying problem isn’t the American banknote, per se. It’s the whole banknote scheme itself. While the deprivation and turpitude that it engenders has reached a zenith of blatant proportions here, because ‘modern’ American culture is more driven by determination than anything resembling enlightened intelligence, the root cause isn’t truly a bent toward criminality, so much as what influence ENGENDERS that tendency and propels it to a cresendo.

Do I have to explain this till I’m ‘blue in the face’? I will if I must! Bannknotes are created as principal at interest. In this phase, where ALL principal amounts can ONLY be settled in banknotes, that interest service compels commensurate NEW principal to be created … at then complex compounding interest. Each side of the equasion is an exponentially growing feedback loop inflating the other. Banknotes driving debt driving banknotes, vice-versa, ad infinitum!

Readers … now, just stop and clear all the rhetorical crap from your heads and think! Given that scheme, where ‘currency’ is constantly … and increasingly … depreciating from automatically induced inflation, while the general capability to service systemically ballooning debt is relentlessly bearing down on a society … WHAT THE HELL ELSE CAN BE EXPECTED BUT CRIMINAL DESPERATION!!!!

Now, NONE of this is said to diminish the capital crimes these people comit! The overwhelming body of evidence is that they’re guilty as charged! The central point I’m making is that we can’t be so emotionally diverted in ‘punishing the criminals’ that we completely ignore the core force that steers us ALL in that direction! Hanging every banker on the planet will accomplish NOTHING if this stupid banknote scheme is left to again corrupt yet ANOTHER generation around the world.
The banknote scheme should have been irrevokably forsaken and condemned in 1929. While there’s still barely enough remaining genuine purchase power left in these damnable stamps to warrant some kind of coin not so tiny it isn’t handy, we ought to make a general clamor around the world to end the DISEASE and not merely its SYMPTOMS.''

Wednesday, December 26, 2012

'The Corporation'

''THE CORPORATION is a Canadian documentary film written by Joel Bakan, and directed by Mark Achbar and Jennifer Abbott. The documentary examines the modern-day corporation, considering its legal status as a class of person and evaluating its behavior towards society and the world at large as a psychiatrist might evaluate an ordinary person. This is explored through specific examples. Bakan wrote the book, The Corporation: The Pathological Pursuit of Profit and Power, during the filming of the documentary.''

If you like this film, please share it with your friends and support the makers by purchasing a full quality DVD at either of the two links below:

Jim Willie: 'The Gold War'

From SilverDoctors

''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

Saturday, December 22, 2012

'Eisenhower warns us of the military industrial complex'

''Strategies of a New Cold War: US Marines and the Drug War in Guatemala''

From TowardFreedom

''Fighting organized crime and drug trafficking is the most recent justification for US incursions in Guatemala, also serving to justify the increased activity of Guatemalan military around the country. This militarization is taking place in areas where there are fierce social and land conflicts related to the imposition of mega-resource extraction projects, such as in mining and oil industries. In addition, communities that resist displacement and the extractive industries have been tarred with accusations that they are involved in the organized crime; in some cases entire peasant villages have even been labeled “narco-communities.”

read more 

''Pentagon Using Drug Wars as Excuse to Build Bases in Latin America''

fiscal cliff update...................From TruthOut

''Under the auspices of the drug war, the United States is returning to its historical pattern of using Central America and the Caribbean for its own military and strategic purposes.

Even as a growing chorus of voices throughout Latin America argue that military responses to drug trafficking are ineffective against the narcotics trade and exacerbate existing human rights abuses and official corruption, the U.S. military presence in the region is growing.''

read more 

Argentina: ''Humanitarian Relief or Military Intelligence? The US Base in Chaco''

fiscal cliff update..................From The Argentina Independent

''Money donated by the United States Southern Command (USSC) is being put towards the construction of a ‘humanitarian relief centre’ at the Resistencia Airport in Chaco Province, Argentina. The project is now in the final stages of construction and drawing heavy criticism.

The centre is the latest in a string of USSC funded projects popping up across Latin America. The USSC currently operates bases in Paraguay, El Salvador, Costa Rica, Guatemala, Honduras, Panama, Colombia, and Peru.

''Despite its express purpose as a ‘relief centre’ to be manned and operated by Argentina, those against have been outspoken in dubbing it a façade for USSC intelligence in Argentina and the Tri-Border Area (TBA).''

read more 

Chile: ''U.S. expands military presence with base in Chile''

fiscal cliff update.................From AllVoices

''The U.S. global empire of military bases has been a continuing aspect of U.S. hegemony since World War II. See this site.

"Global military bases have been a constant in U.S. foreign policy since World War II. Currently, there are over seven hundred of them worldwide, serving as home for over 2,500,000 military personnel [3]. On top of America’s permanent base structure, the U.S. Navy’s eleven aircraft carriers can also be taken as impromptu military bases insofar that they can be rapidly deployed to project American military power anywhere in the world.''

read more 

''Chile-U.S. base a boon for defense firms''

fiscal cliff update................From UPI

''What began as a joint Chilean-U.S. base for training peacekeepers before their dispatch to the wider world is growing into a major destination for regional military trainers and defense industry contractors.

The $460,000 facility is a burgeoning site for what the U.S. Army South calls a training ground for Military Operations on Urban Terrain. When completed the MOUT base will support the Chilean Joint Center for Peace Operations and the U.S. Department of State's Global Peace Operations Initiative.''

''The Pentagon's New Generation of Secret Military Bases''

fiscal cliff update......................From MotherJones

''Unknown to most Americans, Washington's garrisoning of the planet is on the rise, thanks to a new generation of bases the military calls "lily pads" (as in a frog jumping across a pond toward its prey). These are small, secretive, inaccessible facilities with limited numbers of troops, spartan amenities, and prepositioned weaponry and supplies.

Around the world, from Djibouti to the jungles of Honduras, the deserts of Mauritania to Australia's tiny Cocos Islands, the Pentagon has been pursuing as many lily pads as it can, in as many countries as it can, as fast as it can. Although statistics are hard to assemble, given the often-secretive nature of such bases, the Pentagon has probably built upwards of 50 lily pads and other small bases since around 2000, while exploring the construction of dozens more.''

read more 

''What's behind Obama's new military base in Chile?''

fiscal cliff update....................From Aljazeera

...........''the White House has become increasingly more assertive in pushing for a global network of US military bases. Indeed, if the progressive community was paying attention, it might be somewhat surprised to find that Obama has been even more militaristic in some ways than predecessor George Bush, the long-time bane of the US left. In particular, Obama has been quietly constructing American bases in the remote Southern Cone. It's an intriguing news story which has received scant attention in the US media, much less the so-called progressive media.''

read more 

''United States adds bases in South America''

fiscal cliff update...............From People's World

''Until recently, the United States has operated 22 U.S. military bases in Latin America, 800 worldwide. Now there are two more, one in Chile and another in Argentina, the first in either country. The purported justification is humanitarian.

U.S. diplomats and Chilean military chiefs gathered April 5 at the Fort Aguayo naval base in Concón, 90 miles northwest of Santiago, Chile's capital, to inaugurate a recently completed eight-building complex intended as a training prop for mock urban battles. The U.S. military's Southern Command provided $460,000 for construction. Training will be consistent with U.S. military doctrine known as Military Operations on Urbanized Terrain (MOUT).''

read more 

''U.S. Bases in Colombia Rattle the Region''

fiscal cliff update................From The Progressive

''The main purpose of expanding these bases is to take strategic control of Latin America,” opposition senator Jorge Enrique Robledo of the Polo Democrático Alternativo told me over the phone from Bogotá.

Every president in South America outside of Colombia is against the bases agreement, with Hugo Chávez of neighboring Venezuela being the most critical. Chávez said that by signing the deal the United States was blowing “winds of war” over the region, and that the bases were “a threat against us.''

read more 

''Seven New US Military Bases in Colombia Is Hardly a Move to the Left''

fiscal cliff update..................From Common Dreams

''In a recent edition of the Wall Street Journal, Mary Anastasia O'Grady laments an apparent shift left in the Obama administration's Latin America policy.  Clearly, O'Grady hasn't been keeping up to date with current events. If she had been, she would have heard about negotiations underway between the U.S. and Colombia to establish at least seven U.S. military bases in Colombia. Last I heard, folks on the left tend to oppose increased militarization; it's tough to see seven new military bases as a move to the left.

Why is the Obama administration pushing for these bases, despite having previously criticized Colombia's human rights record?''

read more 

Friday, December 21, 2012

VOLCKER: ''The Triumph of Persistence''

From NYU SternBusiness

''A Discussion of VOLCKER: The Triumph of Persistence featuring Paul A. Volcker, Former Chairman of the Federal Reserve Board and Professor William L. Silber, Marcus Nadler Professor of Finance and Economics

Moderated by Francesco Guerrera, Editor, Money & Investing, The Wall Street Journal''

October 15, 2012

LPS: '7.12% of U.S. loans are delinquent'

From Housing Wire

''Mortgage delinquencies ticked up in November even though the nation continued to experience declining distressed inventory levels and fewer delinquencies year-over-year, according to data firm Lender Processing Services.''

read more 

''No 'Happy New Year' For UK As Gloom Worsens''

From 'Here is the City'

''With gloomy economic forecasts, falling consumer confidence and poor retail figures adding to concerns over talk of the U.K. leaving the European Union, 2013 is set to be a tough year for the country, analysts say.''

read more 

''Vladimir Putin goes on offensive against US''

From The Telegraph

''During a four and a half hour question and answer session, the president said Russian MPs had acted "emotionally, but reasonably" in approving the legislation, a retaliation for a new US law that bans alleged Russian human rights abusers from visiting the country.
Mr Putin said that despite Americans being "up to their ears in a certain substance" made up of their own problems, they still insisted on highlighting Russia's ills.''

read more 

Gold: 'Independent Money'

From GoldResource

''Short animation arguing for re-introduction of gold as money because of its independence. Written and narrated by Dominic Frisby. Animated by Pola Gruszka. Sponsored by Gold Resource Corporation.''

'UVIC 2012: A Conversation with Kyle Bass'

From DardenMBA

.................'' the bottom line is the total credit market debt-to-GDP globally is 350 percent. It's 200 trillion dollars' worth of debt against global GDP of roughly 62 trillion.''

Keiser Report: 'Battle of Wall Street' (E382)


''Top Ten Reasons Why Fiat Currency Is Superior to Gold (or Silver) Money''

From Financial Sense
By John Butler

''In the spirit of the holidays and hope for a more prosperous 2013, I thought my readers might appreciate a little humor to partially offset the relentless doom and gloom associated with the Amphora Report. So please, don’t take this edition too seriously. But if you happen to stumble across a ‘paperbug’ or two over the holidays, perhaps you could share some of the points made here. Humor sometimes helps people realize just how hopelessly misguided they are. Cheers!''

read more 

Thursday, December 20, 2012

''Pentagon quietly pays Pakistan $700m for troops on border''

From Stratrisks

''The Pentagon quietly notified Congress this month that it would reimburse Pakistan nearly $700 million for the cost of stationing 140,000 troops on the border with Afghanistan, an effort to normalise support for the Pakistani military after nearly two years of crises and mutual retaliation, The New York Times reported.''

read more 

''Doctor Goes On An Epic Rant Against The Food Industry''

From Business Insider

''When Yoni Freedhoff, a doctor and professor at the University of Ottawa, was uninvited to a food industry breakfast three days before it was slated to happen, he got a little upset.

So, instead of presenting his talk to the food industry he made a video of it and posted it to his Weighty Matters blog, in which he writes about all things food and obesity. In the video he discusses "what the food industry can do to improve public health, why they're not going to do it and what we can do about it."

''Device Fools Face Recognition System To Protect Privacy''

From Nikkei

''Near-infrared rays are invisible to the naked eye but appear in pictures taken with digital cameras. In the group's experiment, the rays altered a face's balance of light and dark, disrupting the operation of facial recognition software to the point that it could not identify the image as a face.''

read more 

''Financial Armageddon: The Corruption of Our Currency''

Book Review

''What is money? Is it the all-too-common dollar bill? Coins made by the U.S. mint? A credit card or checkbook? Our founding fathers did not think so, and unfortunately, we the people have bought into the idea that items other than gold and silver can be used as money. How do we avoid the inevitable and survive the economic collapse that will occur, perhaps in the near future? The anwer is simple: we must return to the system of "just weights and measure" as is outlined in the Constitution and the scriptures.''

read more 

''NATO and the Neo-Mujahedeen: Enemies of Yesterday, Friends of Today''

From Mathaba

''One of the rarest occasions when Hamad Bin Jassim Al Thani, the current prime minister of Qatar, was seen nervous, was on the 9th of March 2004 in the famous British think-tank Chatham House; when he answered my question about the contradictory presence of both Al Qaida and the US military bases in his country. Hamad denied any presence of any terrorist groups in Qatar, and showed a full engagement of his government in the war against terrorism. I was congratulated for my question by several politicians from the Gulf countries including the current Foreign Minister of Bahrain who was in 2004 Ambassador in London.''

read more

''Slavery's Global Comeback''

From The Atlantic

''The International Labor Organization (ILO) estimates the number of slaves in the world today at around 21 million. Kevin Bales, of Free the Slaves -- the U.S. affiliate of the world's oldest human-rights organization, the U.K.-based Anti-Slavery International -- (and the author of Disposable People: New Slavery in the Global Economy) puts it at 27 million. Siddharth Kara of Harvard's Carr Center for Human Rights Policy says more than 29 million.''

read more 

''The Russia-EU-US drama''

From EU Observer

''Interestingly enough, as the EU is preparing for a trade spat, US Senate has moved forward to grant permanent normal trade relations with Russia, after overwhelming support from the House for the measure to lift Cold War-era trade restrictions and President Obama’s pledge to sign the bill.

In Washington, the measure is seen as a way to support US jobs as American multinationals seek participation in new markets amidst stagnation at home. In addition to strengthening economic relations with Russia, US policymakers will seek to cooperate with Moscow on regional issues, including in the Arctic and the North Pacific, while trying to reach an agreement on US-NATO cooperation in missile defence.''

read more

''The Big Mac And Your Financial Health: Rising Burger Prices Show A Worrying Trend''

From Seeking Alpha
By Doug Short

''The rise in the price of a Big Mac is faster than the official rise in consumer prices and has been since the late 90's. In 1998, the average price of a Big Mac was about $2.50. Today, the average Big Mac is $4.33. If we were using the Consumer Price Index (CPI), the price of a Big Mac today would be about $3.35. See the graph below. The price hikes represented by this popular burger will impact individuals more than the saturated fat content that Big Macs bear.''

read more 

''2-yr slog ends as SEC approves first U.S. physical copper-backed ETF''

From MineWeb

''The Securities and Exchange Commission has approved the first physical copper exchange-traded fund, over the concerns of copper fabricators who contend it will hurt their industry by putting too much copper in investors’ hands.

The proposed JPM XF Physical Copper Trust will be listed on NYSE Arca and will initially be backed by 61,800 tonnes of copper (30% of the copper available for immediate delivery globally), compared to current copper ETFs, which are backed by futures.''

read more 

“Watching your money disappear”

From Detlev Schlichter

''In fact, throughout history, every experiment with complete paper money systems – systems in which the money supply is not restricted by the available stock of a scarce commodity such as gold or silver but in which it is entirely unconstrained –, every experiment with totally elastic money ended in failure.''

read more 

''The Economic Hunger Games''

From ZeroHedge

''Borrowing future standards of living to enhance current standards of living is all credit is about. Here the currency is energy (or water resources, or industrial metals) rather than financial credit – but the consequences are essentially the same.''

read more 

Wednesday, December 19, 2012

''Deutsche Bank Slides into a Swamp of Scandal''

From SpiegelOnline

''Deutsche Bank was once Germany's proudest financial institution. Now, though, the giant is facing myriad investigations, legal troubles, scandals and accusations of malfeasance. Its current leadership has pledged a new beginning, but several executives are tainted as well.''

read more 

''How antitrust economists are getting better at spotting cartels''

From The Economist

''THESE are nervy times for price-fixers. Banks that allegedly manipulated LIBOR, an interbank interest rate, are awaiting their punishment. At $800 trillion, the market is the largest ever to have been rigged. Fines to follow that imposed on Barclays in the summer are expected soon for other rate-fixing banks; this week saw the first arrests connected with the LIBOR scandal. Other cartels also have reason to be jumpy. The LIBOR case provides a good example of how competition authorities can use price data to scan markets, quickly spotting even small-scale collusion.''

read more 

Keiser Report: 'Monetized Genocide' (E381)


''Queen Attends Brit. Cabinet Meeting–A First Since WWII''

From 'There are no Sunglasses'

''The Queen is in Downing Street for the first cabinet meeting of her 60 year reign.

Prime Minister David Cameron greeted the Queen at the door of Number 10, and ushered her inside after posing briefly for photographs.

It is understood that ministers will present her with a gift to commemorate her Diamond Jubilee year.
She sat between the PM and the foreign secretary for part of the regular meeting of top ministers.

It is believed to be the first time a monarch has attended peace-time cabinet since George III in 1781. George I ceased to chair cabinet in 1717.''

read more 

''Britain will be weaker without EU, says USA''

From The Telegraph

''The Obama administration has expressed concern at what US officials see as Britain's slide towards the European exit door.

Washington firmly believes that the departure of its strongest partner in Europe would also reduce American influence on the continent, as Britain so often shares American views.

An EU without Britain would be seen as weaker on free trade and less reliable on defence and foreign policy issues.''

read more 

''Fiscal Cliff Is a Diversion From Dollar Bubble Trouble''

From Market Oracle
By Paul Craig Roberts

......'' the entire economic policy of the United States is dedicated to saving four banks that are too large to fail. The banks are too large to fail only because deregulation permitted financial concentration, as if the Anti-Trust Act did not exist.''

''The purpose of QE is to keep the prices of debt, which supports the banks’ bets, high. The Federal Reserve claims that the purpose of its massive monetization of debt is to help the economy with low interest rates and increased home sales. But the Fed’s policy is hurting the economy by depriving savers, especially the retired, of interest income, forcing them to draw down their savings. Real interest rates paid on CDs, money market funds, and bonds are lower than the rate of inflation.''

read more 

America Invades Africa: ''The Resource War and the Conquest of Mali''

From Global Research

''The United States African Command (AFRICOM) was created in 2007 under then Defense Secretary Donald Rumsfeld in the Bush Administration as a Military Command center that covers the entire continent of Africa.  They wanted to create a permanent footprint in Africa to maintain the peace and security it desires that is deemed beneficial for US interests.''

read more 

''Gold Confiscation? Will the Chinese Yuan replace the US Dollar?'' Julian Phillips on TV

From GoldSeekTV

Published on Dec 18, 2012 TV presents an exclusive interview with South Africa's top gold analyst, Julian Phillips ( He discusses several topics with interviewer Jonathan Roth (, including:

- Will the Chinese Yuan replace the US Dollar as the world's reserve currency?

- Will gold continue to climb while paper currencies depreciate?

- Could gold be confiscated by national governments?

Taped on-location in Johannesburg, South Africa.

Tuesday, December 18, 2012

''GATA's Bill Murphy & Chris Powell call out Gold and Silver Market Manipulation Conspiracy Critics''


''Russian warships ready to pull citizens out of Syria''

From Voice of Russia

''A group of two assault ships, a tanker and an escort vessel left a Baltic port on Monday, the source said. "They are heading to the Syrian coast to assist in a possible evacuation of Russian citizens. Preparations for the deployment were carried out in a hurry and were heavily classified," the source was quoted as saying.''

read more 

''The Necessity of Smashing The Big Bank Oligopoly''

From ETF Daily News
By Jeff Nielson

''It was encouraging to see a recent article in the N.Y. Times arguing for the necessity of smashing the Big Bank Oligopoly in the U.S. Apparently not everyone has forgotten the basic fundamentals of economics.

Going all the way back to Adam Smith; all the economic theorists have acknowledged a central premise of capitalism: oligopolies (and/or monopolies) are predatory, parasitic abominations which can never be allowed to evolve in our economies. Or, as I put more succinctly in a previous commentary, “too big to fail = too big to exist.''

read more 

''CURRENCY CARTEL: Counterfeiting "Risk Free"

From GoldSeek

''An 'expiring' Petro$$ Strategy, a shift by central banks of the emerging countries to buying gold and the shrinking of the US as a trade and industrial power, have shifted the foundation of the US$ as the global reserve currency.

Nothing is going to happen tomorrow! It is likely, as things worsen due to the problems of unsound money and fiat currencies, that the US will be the last currency to fall.

The problem now is the inevitability of a fiat system failure, and when it does, that it will fail catastrophically with unimaginable and protracted consequences. The path we are on leaves few solutions other than accelerated money printing, which is exactly what we are witnessing with.''

''Why A Weimar-Style Hyperinflation Will Never Occur In The West...''

From GoldSeek
By Tekoa Da Silva

''I saw a YouTube video published by Nick Barisheff recently (not an endorsement), which details his argument for hyperinflation and $10,000 oz. gold. While I don't doubt the possibility of $10,000 oz. gold, I’m highly skeptical of the possibility of hyperinflation in the United States and Europe. The reason is simple: Money today is not what money was 50 or 100 years ago.

Money today is digital, and all money can be controlled through digital mechanisms. Money can be "shut-off", the flow of money can be temporarily halted, and money supply can be "erased". Additionally, tools within the banking system, such as a debts being called-in on mortgages, credit lines & access to credit being eliminated, can create money-draughts and reduce the money supply. An economy wide debt-calling collection would create a shortage of money, along with forced liquidations of financial assets and commodities.''

read more 

Syria: ''The descent into Holy War''

From The Independent

''It is one of the most horrifying videos of the war in Syria. It shows two men being beheaded by Syrian rebels, one of them by a child. He hacks with a machete at the neck of a middle-aged man who has been forced to lie in the street with his head on a concrete block. At the end of the film, a soldier, apparently from the Free Syrian Army, holds up the severed heads by their hair in triumph.''

read more 

''Under the Radar-1: US’ military adventures may lead to World War III''

From Voice of Russia

''Every week hundreds of important events occur that are important to all of us but which do not get enough media attention, either because they are over-shadowed by other major news or because they do not fit the pre-planned message that many of the world’s media are trying to promote, there is a journalistic responsibility to tell the whole story which I always attempt to do. In this dear reader you may be of assistance, keep your eyes open and send in your tips and we will add them to the weekly summary which we have decided to call “Under the Radar”.''

read more 


'Government Allowed 9/11 | Interview with Sibel Edmonds'


''Silver is money too''

From GoldMoney

''In order to understand the demonetisation of silver and later gold, one needs to explore the events in America of the period 1890-1913, which were dominated by Morgan, Rockefeller, Kuhn and Loeb interests. They wished to be able to charge interest on an exponentially increasing monetary supply – for obvious reasons.

During this time they went about setting the agenda for switching to a paper based monetary system by appealing to and bribing opinion leaders in politics, business and academia. Bound together by common interest, the elite went on to cheat the public. First they dealt with silver in the USA with the Gold Act of 1900. Then they joined their British and European counterparts to create the Commission for International Exchange, to convince the Third World that silver was not money, and that they should instead accept paper money backed by imaginary gold instead.''

read more 

''Coming Silver frenzy may last decades''

From Bullion Street

''A decade long silver frenzy is on the horizon as the widening gap at silver-gold ratio is leaving plenty of room for silver to surge in its historic relation to gold prices.

Analysts said widened ratio is an indication about a surge in price for silver and it's been a fact that during periods of monetary crisis, such as the 1970s, the price of silver tends to increase much more than the price of gold.''

read more 

Essay: 'Europe’s hard borders'

From Red Pepper

''In the aftermath of the cold war, the more utopian prophets of globalisation hailed the advent of a new ‘borderless’ world in which national borders would become irrelevant and obsolete. Since then governments across the world have dismantled barriers and tariffs against the free movement of capital and commodities, and entered into regional and transnational agreements that have relinquished traditional tenets of national sovereignty. ''

read more

Monday, December 17, 2012

''Shadow Forces Behind the Government''

From Market Oracle

''Let no man or woman dare speak of a shadow government. The crony corruptocrats that make up the ruling elites of the world must maintain the illusion, that elected governments are based upon willful consent and have the legitimate authority to establish rules of conduct that their citizen are obligated to obey. For those regimes that maintain their grip of power by undemocratic means, the apologists for the international community give a wide berth of acceptance in order to maintain the appearance of individual national sovereignty.''

read more 

''Why Did Silver Coinage End in the United States?''

From Silver Monthly

''The effects of inflation, coupled with the strong incentives for private collection of the silver coinage which had now been demonetized, caused silver coins to quickly disappear from circulation. By 1970, strictly cupronickel coinage was manufactured and circulated by the U.S. government. The underlying circumstance which made the Coinage Act of 1965 necessary was the inflation caused by increases in the money supply. True enough, the strain on the nation’s supply of silver at the time was great, due in part to the government’s interference in prices.''

read more 

''Debasement is Still Inevitable: Another Year for the Real Cupronickel Nickel?''

From Survival Blog

''Hopefully the Mint's dawdling will give us another year or two to stack up our boxes of nickels. (Once a composition change takes place, we will have to laboriously sort nickels.) If you read the contractor's report, you'll see that one of the goals of the planned debasement is that is be "seamless", meaning: "Differences and abilities to recognize or process incumbent coins and coins produced from alternative material candidates cannot be distinguished through normal coin processing." That is bureaucratic doublespeak for "Let's make our new worthless tokens look like real coins, even to vending machines."

read more 

''LBJ and the Destruction of American Currency''

From American Thinker

''Just two months after Kennedy's assassination, in his first economic report to Congress, Johnson recommended that America "expedite the release of silver from the coinage."  Johnson discontinued the issuance of silver certificates in 1964, and the process of retiring the outstanding certificates began.  As if that were not damaging enough, Johnson followed with his second major monetary reform in 1965, claiming that "the growing shortage of silver" had to be addressed.

On July 23, Johnson signed the Coinage Act of 1965, smashing the founders' Coinage Act of 1792.  Whereas our Founders instituted the death penalty for debasing the currency of American citizens, Johnson arrogantly justified his move in the name of potential "coin shortages."

''Macon County sues Fannie Mae, Freddie Mac over transfer taxes''

From 4closurefraud

''Macon County is the latest Illinois county to file a lawsuit against Fannie Mae and Freddie Mac over failing to pay real estate transfer taxes on foreclosure properties.
Officials in the central Illinois county filed suit Dec. 4 in federal court in Springfield, asking a judge to order the two federal mortgage finance companies, as well as the Federal Housing Finance Agency, which oversees them, to pay the transfer taxes; issue a declaration that they are subject to having to pay them; and award damages, interest, penalties, costs and attorney fees.''

''Goodbye to liberty''

From GoldMoney
By Alasdair Macleod

''The human race, in its advanced economic form, is committing euthanasia. The US, UK, Europe and Japan are all implementing economic policies that must ultimately result in the complete destruction of their currencies; and if you destroy the means of exchange of goods and services, your people will starve. The political class and government establishments have drifted in incremental steps into this tragedy. Far from being the guiding hand for society, they are its destroyers.''

read more 

''An Afghan Mystery: Why Are Large Shipments of Gold Leaving the Country?''

From NYTimes

''Packed into hand luggage and tucked into jacket pockets, roughly hewed bars of gold are being flown out of Kabul with increasing regularity, confounding Afghan and American officials who fear money launderers have found a new way to spirit funds from the country.''

read more 

''Dragon Family Gold and US Federal Reserve System''

part 1...........From Strategic Culture

''Keenan claims that before WWII the U.S. the Federal Reserve System (12 Federal Reserve Banks, to be more exact) had received enormous amounts of money – delivered in gold and other precious metals – from a group of several wealthy Chinese citizens to be kept for a long time. In return they got certificates testifying the money was placed for the benefit to be redeemed by Federal Reserve System on the expiration of specified term… The deal is murky concerning such details as the term of maturity and the amount of the sum transferred.''

continue reading 

part 2 

part 3 

''THE SILVER STEALERS : Skull & Bones, Meet the Pilgrims''

From SGT Report

Sunday, December 16, 2012

''The Woes of an American Drone Operator''

From SpiegelOnline

''For more than five years, Brandon Bryant worked in an oblong, windowless container about the size of a trailer, where the air-conditioning was kept at 17 degrees Celsius (63 degrees Fahrenheit) and, for security reasons, the door couldn't be opened. Bryant and his coworkers sat in front of 14 computer monitors and four keyboards. When Bryant pressed a button in New Mexico, someone died on the other side of the world.''

read more 

Keiser Report: 'High Frequency Scalping' (E380)


''HSBC’s $1.9bn settlement sets (another) dangerous precedent''

From Ian Fraser Blog

''The ‘settlements’ that London-headquartered banks HSBC and Standard Chartered have reached with the US authorities over serious criminal offences — including sanctions-busting and aiding and abetting terrorism and the global drug trade — are a travesty of justice.''

read more 

''Fifty Years of Suppressing Silver''

From Bullion Bulls Canada
By Jeff Nielson

''Sophisticated precious metals investors are well-aware of the rampant manipulation of the gold and silver markets. They are also generally aware of the reason for such manipulation. A rapid rise in the price of gold and silver is like an economic “warning siren” - alerting savers that their wealth (i.e. the purchasing power of their currency) is being rapidly eroded by the monetary depravity of bankers.''

read more 

''America and Israel Wage War on Humanity''

From Steve Lendman Blog 

''America's longstanding policy is permanent war. It's the only nation ever to wage them ever year in its history abroad and/or at home.
Multiple direct and proxy wars rage now. Obama plans more. He's a war criminal multiple times over.''

Saturday, December 15, 2012

Keiser Report: 'Too Big To Jail' (E379)


''French in Denial as Crisis Deepens''

From Spiegel

''In the midst of the economic crisis, France's Socialists are denying reality. The minister of industrial renewal is calling for nationalization of some industries, while the president shies away from necessary structural reforms. Business leaders fear the clock has been turned back 30 years.''

read more 

Cate Long: ''Muniland, the Happiest Place on Earth?''


Interview: 'Noam Chomsky on Latin America'


''Renowned linguist, political analyst and activist Noam Chomsky offered his thoughts to me on Latin America and the role of the United States last month. Among his many observations, he considered Honduras as "a kind of a horror story," and Haiti "an NGO dependency." The following is an excerpt from a longform interview available at''

continue reading

''Crime, Osprey add to Okinawan anger over US bases''

From The Guardian

''For nearly 70 years, Okinawa has gotten more than its share of America's military — more jets rattling homes, more crimes rattling nerves.

It's the only Japanese island invaded by U.S. land forces during World War II. It endured 27 years under U.S. administration, and it continues to host two-thirds of Japan's U.S. bases.''

read more 

''QE 4: Folks, This Ain't Normal''

From Financial Sense
By Chris Martenson

''The key point here is that the Fed is now actively running both monetary and fiscal policy because it will now be in the business of funding nearly 100% of all the new government deficit spending in 2013. And it is pumping a bit more than $1 trillion of hot, thin-air money into the economy as it does so.''

read more 

''Breakout in Foreign Stocks Suggests Breakdown in USD''

From Financial Sense

''One useful relationship that helps identify turning points in the USD Index is a look at foreign equities. Foreign stocks will often outperform the U.S. markets when the USD is weak; part of the reason for this is that foreign markets are very sensitive to inflation, so when their currencies advance relative to the USD, their inflation rates fall and their equities climb.''

read more 

Friday, December 14, 2012


From Chasing Ice

''Pentagon to send missiles, 400 troops to Turkey''

John Boehner says we are broke, send the bill to the neo-cons...............From  Detroit News

''The U.S. will send two batteries of Patriot missiles and 400 troops to Turkey as part of a NATO force meant to protect Turkish territory from potential Syrian missile attack, the Pentagon said Friday.

Defense Secretary Leon Panetta signed a deployment order en route to Turkey from Afghanistan. It calls for 400 U.S. soldiers to operate two batteries of Patriots at undisclosed locations in Turkey, Pentagon press secretary George Little told reporters flying with Panetta.''

''Keiser Report: Too Big To Jail'' (E379)


''Secret Libor Transcripts Expose Trader Rate-Manipulation''

From Bloomberg

''For years, traders at RBS, Barclays Plc (BARC), UBS AG (UBSN), Deutsche Bank AG (DBK), Rabobank Groep and other firms that stood to profit worked with employees responsible for setting the benchmark to rig the price of money, according to documents obtained by Bloomberg and interviews with two dozen current and former traders, lawyers and regulators. Those interviews reveal how the manipulation flourished for years, even after bank supervisors were made aware of the system’s flaws.''

read more 

''Confiscation of Gold - Then What?''

From Financial Sense
By Julian Phillips

''Several analysts and respected members of the gold community have stated that the confiscation of gold is unlikely because the conditions that precipitated it in 1933 don’t exist anymore. We agree wholeheartedly with that view. But we feel that the confiscation of gold is extremely likely for very different reasons.''

read more 

''HSBC, too big to jail, is the new poster child for US two-tiered justice system''

From The Guardian

''DOJ officials unblinkingly insist that the banking giant is too powerful and important to subject to the rule of law.''

read more 

'12.12.12 - The Day Our Currency Died: Andy Hoffman'

From SGT Report

''Govt. Spying Out of Control, Notes Judge Napolitano''

From The New American

''In an article posted by Libertarian-minded Judge Andrew Napolitano on on Thursday, Napolitano asserts that government spying has gotten out of control. According to Napolitano, both the Democratic and Republican Parties have justified the process of spying on American citizens and the violation of constitutional rights in the process, always under the guise of security, and in doing so, have violated their oaths to uphold the Constitution.''

read more 

''Just coincidence? Queen is trotted through Bank of England's gold vault''

From GoldSeek

''Maybe it's just a coincidence but maybe instead it's a propaganda campaign launched by the British government and the Bank of England to assuage growing international concerns about the oversubscription, lending, and swapping of Western central bank reserves.

First, a few days ago, the Bank of England invited videojournalist Brady Haran and University of Nottingham chemistry Professor Martyn Poliakoff to tour its gold vault for a fascinating lecture in which the professor discussed gold's remarkable qualities. (Of course gold's most remarkable quality may be its capacity to replicate itself to infinity in the hands of a central bank -- just like ordinary money.)''

read more