Monday, November 5, 2012
''Don't Vote for Obama or Romney (FULL). Serve America Better By Buying 1 oz of Gold & Silver''
''Golden Stability vs. Fiat Currency Chaos''
From Resource Investor
By Felix Moreno De La Cova
"In Golden Stability vs. Fiat Currency Chaos – Part I we discussed how gold money preserves purchasing power and attacked the factually and logically wrong argument that a fiat currency would or could, if “properly managed", prove more stable and better at preserving value than gold money. History is eloquent in this regard.
In Part II we shall look at the other popular attack on a gold standard: that it creates economic instability or that it aggravates the boom-bust cycle.''
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By Felix Moreno De La Cova
"In Golden Stability vs. Fiat Currency Chaos – Part I we discussed how gold money preserves purchasing power and attacked the factually and logically wrong argument that a fiat currency would or could, if “properly managed", prove more stable and better at preserving value than gold money. History is eloquent in this regard.
In Part II we shall look at the other popular attack on a gold standard: that it creates economic instability or that it aggravates the boom-bust cycle.''
read more
''Let it snow - U.S. farms need recharged soil moisture after drought''
From Reuters
''Drought-struck areas of the U.S. Plains winter wheat belt need a deluge of rain and snow this winter to fully recharge parched farmland, an unlikely scenario that means wheat, corn and soybean crops could face a rough new season.''
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''Drought-struck areas of the U.S. Plains winter wheat belt need a deluge of rain and snow this winter to fully recharge parched farmland, an unlikely scenario that means wheat, corn and soybean crops could face a rough new season.''
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Christopher Whalen: "Is Bank of America preparing for a Chapter 11?''
From Reuters
By Christopher Whalen
''Bank of America has managed to step into the kimchee several times over the past couple of months, an achievement that only warms the hearts of crisis communications professionals. First came the abortive settlement of $10 billion or so in put-back claims by some large investors. The State of New York and anyone else paying attention intervened. Settlement is now mostly muerto in political terms, although the big investors are still paying the big lawyers to soldier on in hope of forcing a settlement on all parties. Only in New York are such things possible.''
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By Christopher Whalen
''Bank of America has managed to step into the kimchee several times over the past couple of months, an achievement that only warms the hearts of crisis communications professionals. First came the abortive settlement of $10 billion or so in put-back claims by some large investors. The State of New York and anyone else paying attention intervened. Settlement is now mostly muerto in political terms, although the big investors are still paying the big lawyers to soldier on in hope of forcing a settlement on all parties. Only in New York are such things possible.''
read more
''British have invaded nine out of ten countries - so look out Luxembourg''
its no wonder the Queen is the largest landowner in the world...........From The Telegraph
The analysis of the histories of the almost 200 countries in the world found only 22 which have never experienced an invasion by the British.''
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''A new study has found that at various times the British have invaded almost 90
per cent of the countries around the globe.
The analysis of the histories of the almost 200 countries in the world found only 22 which have never experienced an invasion by the British.''
read more
''Rockefeller, Morgan, and War''
From Mises.org
By Murray N. Rothbard
''During the 1930s, the Rockefellers pushed hard for war against Japan, which they saw as competing with them vigorously for oil and rubber resources in Southeast Asia and as endangering the Rockefellers' cherished dreams of a mass "China market" for petroleum products. On the other hand, the Rockefellers took a noninterventionist position in Europe, where they had close financial ties with German firms such as I.G. Farben and Co., and very few close relations with Britain and France.''
read more
Video from InfoWars....
Time to rewrite the history books..............
By Murray N. Rothbard
''During the 1930s, the Rockefellers pushed hard for war against Japan, which they saw as competing with them vigorously for oil and rubber resources in Southeast Asia and as endangering the Rockefellers' cherished dreams of a mass "China market" for petroleum products. On the other hand, the Rockefellers took a noninterventionist position in Europe, where they had close financial ties with German firms such as I.G. Farben and Co., and very few close relations with Britain and France.''
read more
Time to rewrite the history books..............
''The Permanent Militarization of America''
From NY Times
By Aaron B. O'Connell
''Were Eisenhower alive, he’d be aghast at our debt, deficits and still expanding military-industrial complex. And he would certainly be critical of the “insidious penetration of our minds” by video game companies and television networks, the news media and the partisan pundits. With so little knowledge of what Eisenhower called the “lingering sadness of war” and the “certain agony of the battlefield,” they have done as much as anyone to turn the hard work of national security into the crass business of politics and entertainment.''
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By Aaron B. O'Connell
''Were Eisenhower alive, he’d be aghast at our debt, deficits and still expanding military-industrial complex. And he would certainly be critical of the “insidious penetration of our minds” by video game companies and television networks, the news media and the partisan pundits. With so little knowledge of what Eisenhower called the “lingering sadness of war” and the “certain agony of the battlefield,” they have done as much as anyone to turn the hard work of national security into the crass business of politics and entertainment.''
read more
''10 nations that control the world’s gold''
From Market Watch
''It is now more obvious than ever that gold is becoming the new global reserve currency. Continuous and aggressive central-bank actions from the United States and Europe are driving the demand for gold. Investors have not yet seen any of the real hyperinflationary pressures that seem likely down the road.''
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''It is now more obvious than ever that gold is becoming the new global reserve currency. Continuous and aggressive central-bank actions from the United States and Europe are driving the demand for gold. Investors have not yet seen any of the real hyperinflationary pressures that seem likely down the road.''
read more
''What to do as the Germans secretly prepare to print euros''
From MoneyWeek
By Matthew Partridge
''Sometimes the biggest stories are not the ones that get the most coverage. Not long ago I noticed an interesting item in the news. While it hasn’t made the headlines, it could have a big impact on markets – especially the gold price.''
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By Matthew Partridge
''Sometimes the biggest stories are not the ones that get the most coverage. Not long ago I noticed an interesting item in the news. While it hasn’t made the headlines, it could have a big impact on markets – especially the gold price.''
read more
On the Edge With Max Keiser 11/03/2012
Keiser Report: ''Wall St. Vomitorium'' (E362)
''Bolivia Returns to the Global Bond Market''
From NACLA.org
''Bolivia returned to the international credit markets last month after an absence of nearly a century, selling $500 million in 10-year bonds at an interest rate of 4.875%. The country’s last global bond sale was in the 1920s, to finance expansion of the national railway network.
The event highlights the success of President Evo Morales's unique brand of economic pragmatism, as well as some ironic impacts of the global financial crisis.''
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''Bolivia returned to the international credit markets last month after an absence of nearly a century, selling $500 million in 10-year bonds at an interest rate of 4.875%. The country’s last global bond sale was in the 1920s, to finance expansion of the national railway network.
The event highlights the success of President Evo Morales's unique brand of economic pragmatism, as well as some ironic impacts of the global financial crisis.''
read more
''Michigan Bridge Hangs in the Balance''
From Governing.com
''Earlier this year, Michigan Gov. Rick Snyder and Canadian officials unveiled a long-awaited infrastructure plan that seemed almost too good to be true for Michigan taxpayers: the cost of a new toll bridge between the two entities would be entirely fronted by Canada.
Michigan officials say the proposed $950 million bridge won't cost state taxpayers a dime. Not the structure itself. Not the highway interchanges. Not federal inspection facilities. Not the design, the maintenance, or the operations.
Is Canada being particularly generous? Not exactly. The deal is the result of a conflict between Snyder and his state legislature, which has previously been unwilling to fund the project. Canada is betting that the bridge will be such a good investment that it’s willing to front the money.''
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''Earlier this year, Michigan Gov. Rick Snyder and Canadian officials unveiled a long-awaited infrastructure plan that seemed almost too good to be true for Michigan taxpayers: the cost of a new toll bridge between the two entities would be entirely fronted by Canada.
Michigan officials say the proposed $950 million bridge won't cost state taxpayers a dime. Not the structure itself. Not the highway interchanges. Not federal inspection facilities. Not the design, the maintenance, or the operations.
Is Canada being particularly generous? Not exactly. The deal is the result of a conflict between Snyder and his state legislature, which has previously been unwilling to fund the project. Canada is betting that the bridge will be such a good investment that it’s willing to front the money.''
read more
''China ''Addicted To Credit''
From The Diplomat via Zerohedge
By James Parker
''Most worrying is a drastic rise in the amount of “accounts receivable” (A/R) on the balance sheets of Chinese companies. Accounts receivable is an item of money owed to the company (from customers) which has not yet been paid. Many transactions are done on credit, and it is normal for companies to have these items on their accounts. However, Chinese firms’ accounts receivable are estimated to have risen by 45% year-on-year (YOY) according to reports filed so far, whilst sales have climbed by less than half that rate.''
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By James Parker
''Most worrying is a drastic rise in the amount of “accounts receivable” (A/R) on the balance sheets of Chinese companies. Accounts receivable is an item of money owed to the company (from customers) which has not yet been paid. Many transactions are done on credit, and it is normal for companies to have these items on their accounts. However, Chinese firms’ accounts receivable are estimated to have risen by 45% year-on-year (YOY) according to reports filed so far, whilst sales have climbed by less than half that rate.''
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''Kissinger and Nixon in the White House''
From The Atlantic 1982
By Seymour Hersh
''Seymour M. Hersh, a former correspondent for The New York Times, won the Pulitzer Prize for international reporting in 1970, for his revelation of the massacre at My Lai, in South Vietnam. He is the winner of virtually every major journalism award, including the George Polk Award, which he has received four times—more than any other reporter in the history of the Polk Awards. His new book, which will be published early next year by Summit, is a history of Henry Kissinger's service as national security adviser to Richard Nixon, during Nixon's first term. The article below is drawn from that book; it deals with White House wiretapping activities and with the White House internal-security unit known as the Plumbers. A second Atlantic article by Mr. Hersh, to be published later this year, will be concerned with one aspect of the Nixon-Kissinger foreign policy during Nixon's first term.''
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By Seymour Hersh
''Seymour M. Hersh, a former correspondent for The New York Times, won the Pulitzer Prize for international reporting in 1970, for his revelation of the massacre at My Lai, in South Vietnam. He is the winner of virtually every major journalism award, including the George Polk Award, which he has received four times—more than any other reporter in the history of the Polk Awards. His new book, which will be published early next year by Summit, is a history of Henry Kissinger's service as national security adviser to Richard Nixon, during Nixon's first term. The article below is drawn from that book; it deals with White House wiretapping activities and with the White House internal-security unit known as the Plumbers. A second Atlantic article by Mr. Hersh, to be published later this year, will be concerned with one aspect of the Nixon-Kissinger foreign policy during Nixon's first term.''
read more
Sunday, November 4, 2012
Max Keiser: ''Barack Obama is clueless. Mitt Romney will bankrupt the country''
max keiser fans will love this..............From The Independent
By Robert Chalmers
By Robert Chalmers
''Some call Max Keiser a 'traitor' but America's most outrageous political pundit is about to become the most widely watched newscaster on the planet. Here, he explains why he won't be voting in Tuesday's US election.''
''Herbert and Keiser moved to London a year ago. "Because this is the world capital of banking fraud. Pretty much every financial scandal of the past 20 years has had its main component in London, because it has the least regulated banking environment. This is very important for the US, because America outsources its own fraud to London, just as it outsources its labour to China.''
read more
''Melting Arctic may lure investors but is development economically viable?''
From Alaska Dispatch
''As the Arctic Ocean becomes increasingly ice-free, many countries are eager to tap into previously inaccessible northern resources. Energy companies seek drilling permits for oil and natural gas, and shipping companies hope to ply newly opened sea routes. Given the unpredictable nature of Arctic sea ice, some wonder if operating in the already inhospitable north will be an economically viable effort.''
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''As the Arctic Ocean becomes increasingly ice-free, many countries are eager to tap into previously inaccessible northern resources. Energy companies seek drilling permits for oil and natural gas, and shipping companies hope to ply newly opened sea routes. Given the unpredictable nature of Arctic sea ice, some wonder if operating in the already inhospitable north will be an economically viable effort.''
read more
''Russia planning massive Siberian gas pipeline to Pacific tidewater''
From Alaska Dispatch
''Gazprom, Russia's state-owned gas company, is moving ahead with plans to ship much of its abundant natural gas to countries in Asia, creating more competition for the latest of Alaska's long-running dreams of exporting its own gas supply.''
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''Gazprom, Russia's state-owned gas company, is moving ahead with plans to ship much of its abundant natural gas to countries in Asia, creating more competition for the latest of Alaska's long-running dreams of exporting its own gas supply.''
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Jim Hightower: "Adelson's free-enterprise mirage''
From Jim Hightower.com
''For a reality check on the moral superiority of the rich, however, take a peek at who's now trying to do some of the most egregious mooching ever from the economically-devastated people of Spain. Why it's Adelson, the multibillionaire casino tycoon from Las Vegas! In addition to trying to buy favors from our own government by throwing as much as $100 million into this year's presidential and congressional elections, the far-right Republican extremist is making a huge financial play in Madrid, Spain.''
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''For a reality check on the moral superiority of the rich, however, take a peek at who's now trying to do some of the most egregious mooching ever from the economically-devastated people of Spain. Why it's Adelson, the multibillionaire casino tycoon from Las Vegas! In addition to trying to buy favors from our own government by throwing as much as $100 million into this year's presidential and congressional elections, the far-right Republican extremist is making a huge financial play in Madrid, Spain.''
read more
''China Grasps Value of Gold, Even if U.S. Doesn’t''
From RollCall
''In an interview with China 2011 Economy, Zhou Qiren, Dean of Peking University’s National School of Development, said that a global system in which the values of currencies were pegged to gold would make “an excellent monetary system.” He said “if the currency of each major country is bound to gold, financial headaches would of course be reduced ... it would be impossible for [U.S. Federal Reserve Chairman Ben] Bernanke to print 600 billion USD to purchase long-term debt ... (and) the gold standard would effectively prevent each country’s government from recklessly levying ‘inflation taxes’ domestically and passing troubles to others by manipulating currency exchange internationally.''
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''In an interview with China 2011 Economy, Zhou Qiren, Dean of Peking University’s National School of Development, said that a global system in which the values of currencies were pegged to gold would make “an excellent monetary system.” He said “if the currency of each major country is bound to gold, financial headaches would of course be reduced ... it would be impossible for [U.S. Federal Reserve Chairman Ben] Bernanke to print 600 billion USD to purchase long-term debt ... (and) the gold standard would effectively prevent each country’s government from recklessly levying ‘inflation taxes’ domestically and passing troubles to others by manipulating currency exchange internationally.''
read more
''Dollar to face crisis of confidence''
From FT Advisor
By John Lappin
''The eurozone crisis has delayed the emergence of the euro as a rival reserve currency to the dollar, but the Chinese renminbi is accelerating fast according to University of California Berkeley economist professor Barry Eichengreen.
Professor Eichengreen says that his original contention - that we are moving from a world with one reserve currency to a multi-polar currency world - still holds.
He outlined this theory in his January 2011 book ‘Exorbitant Privilege’ and has now updated this work in a white paper published with the DWS Global Financial Institute, a think-tank set up by DWS, Deutsche Bank’s retail asset management arm.''
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By John Lappin
''The eurozone crisis has delayed the emergence of the euro as a rival reserve currency to the dollar, but the Chinese renminbi is accelerating fast according to University of California Berkeley economist professor Barry Eichengreen.
Professor Eichengreen says that his original contention - that we are moving from a world with one reserve currency to a multi-polar currency world - still holds.
He outlined this theory in his January 2011 book ‘Exorbitant Privilege’ and has now updated this work in a white paper published with the DWS Global Financial Institute, a think-tank set up by DWS, Deutsche Bank’s retail asset management arm.''
read more
''A Silver Lining For When Currency Dies''
From Market Oracle
''History has shown that humans are no further down the evolutionary path in this regard. This paper currency system will eventually collapse since interest is attached to the medium of exchange. Basically, building a monetary system based on "interest" or debt will eventually fail, just like all previous debt based monetary systems have collapsed.
What will be left when the dust clears after this monetary collapse, will be the few hard assets that have not already been re-hypothecated by banks and brokers. Gold and silver happen to be the only hard currencies available to most investors, and silver even more so than gold.''
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''History has shown that humans are no further down the evolutionary path in this regard. This paper currency system will eventually collapse since interest is attached to the medium of exchange. Basically, building a monetary system based on "interest" or debt will eventually fail, just like all previous debt based monetary systems have collapsed.
What will be left when the dust clears after this monetary collapse, will be the few hard assets that have not already been re-hypothecated by banks and brokers. Gold and silver happen to be the only hard currencies available to most investors, and silver even more so than gold.''
read more
''Global Reserve Currencies, the Triffin dilemma and gold's role''
From MineWeb
By Richard Mills
''Today no country is on a gold standard and all currencies are fiat. If a future fiat global currency were to be put in place without full, or at least a hefty partial gold backing, then we'd simply be repeating Bretton Woods - the 1944 US dollar failed reserve currency experiment - except it'd be on a much grander scale.''
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By Richard Mills
''Today no country is on a gold standard and all currencies are fiat. If a future fiat global currency were to be put in place without full, or at least a hefty partial gold backing, then we'd simply be repeating Bretton Woods - the 1944 US dollar failed reserve currency experiment - except it'd be on a much grander scale.''
read more
Saturday, November 3, 2012
''Russia and China to drive the world oil market''
From Voice of Russia
''The global oil market is moving east, says a recent report by The Wall Street Journal Europe. The oil that Russia exports to China, Japan, South Korea, the Philippines, India, Indonesia, the USA and Peru could set the world’s new oil price standard. China stands ready to service the global oil trade with its Yuan, heralding the beginning of the end for the “petrodollar” era.''
Russia and China are well positioned to help Asia's energy market to break the long standing link between crude oil and the dollar, by which the price has always been tied to American, Middle Eastern and European standards by an increasingly volatile dollar. In essence a new link is on the table: Russian ESPO oil tied to the Yuan, where the oil price will, for the first time be determined by a stable supply from East Siberia and the growing demand in Asian countries. The Chinese Yuan is therefore well placed to become the new oil currency.
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Gold: ''The Next Global Reserve Currency''
From Market Oracle
By Barry Elias
''Gold is on a path to become the next global reserve currency.''
''A macroscopic perspective of our global economy suggests the world’s financial crisis was caused by an inordinate accumulation of debt relative to GDP.
However, the excess debt relative to income was the result of fiat currency regimes. These regimes are based on the faith and credit of governing institutions, not physical capital reserves, and permit an infinite amount of credit and undercapitalized debt formation.''
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By Barry Elias
''Gold is on a path to become the next global reserve currency.''
''A macroscopic perspective of our global economy suggests the world’s financial crisis was caused by an inordinate accumulation of debt relative to GDP.
However, the excess debt relative to income was the result of fiat currency regimes. These regimes are based on the faith and credit of governing institutions, not physical capital reserves, and permit an infinite amount of credit and undercapitalized debt formation.''
read more
''The Coin Analyst: Groundwork for Gold-Backed Reserve Currency is Being Laid''
From Coin Week
By Louis Golino
''One of the drivers of higher gold prices in the future will be the continuing desire of central bankers in the developing world to diversify their assets by increasing their gold reserves.
The trend towards gold accumulation by central banks in the developing world is an especially noteworthy development. Those banks increasingly are seeking to diversity their assets away from the U.S. dollar and the more they grow economically, the more gold they are expected to acquire. They already account for about 60% of global demand for gold.''
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By Louis Golino
''One of the drivers of higher gold prices in the future will be the continuing desire of central bankers in the developing world to diversify their assets by increasing their gold reserves.
The trend towards gold accumulation by central banks in the developing world is an especially noteworthy development. Those banks increasingly are seeking to diversity their assets away from the U.S. dollar and the more they grow economically, the more gold they are expected to acquire. They already account for about 60% of global demand for gold.''
read more
''CIA confirms role in US consulate attack in Benghazi''
From The Telegraph
The Wall Street Journal said the consulate was being used as a CIA operation, adding that of the 30 American officials evacuated from Benghazi following the assault, just seven worked for the State Department.''
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''President Barack Obama's administration has faced a storm of pre-election
questions about why there was not more security at the US consulate where
four Americans, including Ambassador Chris Stevens, were killed on September
11.
The Wall Street Journal said the consulate was being used as a CIA operation, adding that of the 30 American officials evacuated from Benghazi following the assault, just seven worked for the State Department.''
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''Goldman urges Supreme Court to end mortgage class-action''
From Reuters
''Goldman Sachs Group Inc (GS.N) has urged the U.S. Supreme Court to throw out a mortgage securities class-action lawsuit that it said could cost Wall Street tens of billions of dollars.
The bank
is challenging a September 6 decision by the 2nd U.S. Circuit Court of
Appeals in New York allowing the lawsuit, which accuses it of misleading
investors about the securities' risks.''
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''Goldman Sachs Group Inc (GS.N) has urged the U.S. Supreme Court to throw out a mortgage securities class-action lawsuit that it said could cost Wall Street tens of billions of dollars.
The bank
is challenging a September 6 decision by the 2nd U.S. Circuit Court of
Appeals in New York allowing the lawsuit, which accuses it of misleading
investors about the securities' risks.''read more
''Is Genetically Modified Food Killing Us?''
From Casey Research
By Alex Daley
''Last month, a group of Australian scientists published a warning to the citizens of the country and of the world who collectively gobble up some $34 billion annually of its agricultural exports. The warning concerned the safety of a new type of wheat.
As Australia's number-one export, a $6-billion annual industry, and the most-consumed grain locally, wheat is of the utmost importance to the country. A serious safety risk from wheat – a mad wheat disease of sorts – would have disastrous effects for the country and for its customers.''
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By Alex Daley
''Last month, a group of Australian scientists published a warning to the citizens of the country and of the world who collectively gobble up some $34 billion annually of its agricultural exports. The warning concerned the safety of a new type of wheat.
As Australia's number-one export, a $6-billion annual industry, and the most-consumed grain locally, wheat is of the utmost importance to the country. A serious safety risk from wheat – a mad wheat disease of sorts – would have disastrous effects for the country and for its customers.''
read more
''Russia deploys Arctic troops''
From Phantom Report
''The Arctic region is attracting an increasing amount of attention from the global community. In large part, this is due to the fixing of international external borders to the continental shelf, the transit opportunities afforded by the Northern and Southern Sea Routes, and the promising prospects for exploitation of the Arctic’s natural resources.
On Oct. 25, as part of an ongoing Command Post Exercise (CPX) in the Western Military District, the coastal forces of the Northern Fleet made Russia’s first ever sea-borne landing on the shores of the uninhabited Kotelny Island.''
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''The Arctic region is attracting an increasing amount of attention from the global community. In large part, this is due to the fixing of international external borders to the continental shelf, the transit opportunities afforded by the Northern and Southern Sea Routes, and the promising prospects for exploitation of the Arctic’s natural resources.
On Oct. 25, as part of an ongoing Command Post Exercise (CPX) in the Western Military District, the coastal forces of the Northern Fleet made Russia’s first ever sea-borne landing on the shores of the uninhabited Kotelny Island.''
read more
''Pennsylvania judge allows county fee case against MERS
From HousingWire
''The court for the most part upheld the plaintiffs right to pursue MERS in court for making electronic property assignments without paying local county recording fees.
The U.S. District judge is allowing the plaintiff, Montgomery County, to sue for quiet title and unjust enrichment, but threw out the civil conspiracy claim.''
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''The court for the most part upheld the plaintiffs right to pursue MERS in court for making electronic property assignments without paying local county recording fees.
The U.S. District judge is allowing the plaintiff, Montgomery County, to sue for quiet title and unjust enrichment, but threw out the civil conspiracy claim.''
read more
''The war over '‘entitlements’'
From Reuters
By Michael A Bernstein
The power of words to frame political ideas can’t be overemphasized. How we label specific practices and proposals affects the ways we think about them. Decades ago statisticians and economists used a neutral phrase, “transfer payments,” to describe various government disbursements: unemployment assistance, old-age pension support, food for the hungry, disbursements to veterans and federal employees.''
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By Michael A Bernstein
''It’s all in the wording. Throughout this presidential campaign, voters have heard a stream of claims and counterclaims about “entitlements” – payments the federal government makes to individuals.
The power of words to frame political ideas can’t be overemphasized. How we label specific practices and proposals affects the ways we think about them. Decades ago statisticians and economists used a neutral phrase, “transfer payments,” to describe various government disbursements: unemployment assistance, old-age pension support, food for the hungry, disbursements to veterans and federal employees.''
read more
''Latvia on course to adopt euro in 2014''
From Business Recorder
''Latvia insisted on Friday that it was on course to join the eurozone in 2014, waving aside concerns about the stability of its economy which has swung from boom to bust and back to growth. "I see Latvia's future in the eurozone," Prime Minister Valdis Dombrovskis told a conference in Riga organised by the Latvian central bank.''
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''Latvia insisted on Friday that it was on course to join the eurozone in 2014, waving aside concerns about the stability of its economy which has swung from boom to bust and back to growth. "I see Latvia's future in the eurozone," Prime Minister Valdis Dombrovskis told a conference in Riga organised by the Latvian central bank.''
read more
Friday, November 2, 2012
''Benghazi Backfire: Was Obama Arming Jihadists?''
From The New American
''Was U.S. Ambassador to Libya Christopher Stevens engaged in arming militant Islamic jihadists when the U.S. compound in Benghazi, Libya, was attacked on September 11? Ambassador Stevens was one of four Americans killed in the September 11 terrorist attack, along with embassy information officer Sean Smith and former Navy SEALs Tyrone Woods and Glenn Doherty.''
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''Was U.S. Ambassador to Libya Christopher Stevens engaged in arming militant Islamic jihadists when the U.S. compound in Benghazi, Libya, was attacked on September 11? Ambassador Stevens was one of four Americans killed in the September 11 terrorist attack, along with embassy information officer Sean Smith and former Navy SEALs Tyrone Woods and Glenn Doherty.''
read more
''New Yorkers Navigate Limited Transit Service As Calls For Relief Grow''
24/7 internet radio..................From NY1
''As the recovery effort from Sandy continues, more subways will be rolling today and Staten Island ferry service restored all while much needed food and supplies get distributed to some of the hardest hit areas of the city still reeling from the massive storm.
The Metropolitan Transportation Authority began offering limited subway and commuter rail service Thursday morning and will expand those options further today.''
continue reading
http://www.ny1.com/
''As the recovery effort from Sandy continues, more subways will be rolling today and Staten Island ferry service restored all while much needed food and supplies get distributed to some of the hardest hit areas of the city still reeling from the massive storm.
The Metropolitan Transportation Authority began offering limited subway and commuter rail service Thursday morning and will expand those options further today.''
continue reading
http://www.ny1.com/
Investigation: ''USDA Quietly Eliminated 60 Percent of Foreign Meat Inspections''
From Food Safety News
''Sending U.S. Department of Agriculture officials overseas to inspect meat and poultry plants whose products are destined for American consumers has long been a bedrock of our modern import safety system, but an investigation by Food Safety News found, the number of countries audited by U.S. officials each year has declined by more than 60 percent since 2008.''
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''Sending U.S. Department of Agriculture officials overseas to inspect meat and poultry plants whose products are destined for American consumers has long been a bedrock of our modern import safety system, but an investigation by Food Safety News found, the number of countries audited by U.S. officials each year has declined by more than 60 percent since 2008.''
read more
''Ecuadorians go to Court to Seize $2 Billion of Chevron's Assets in Argentina''
From Oil Price
''Last year an Ecuadorian court told Chevron that they must pay $18.7 billion in damages for the environmental contamination, and resulting illnesses amongst the local population, that Texaco (now Chevron) had caused during its time in the country from 1972 to 1990.
Chevron is refusing to pay, claiming that the entire trial was a case of fraud. They say that in 1998 Texaco settled with the Ecuadorian government, paying for a $40 million cleanup of the area, a move that absolved it of all further liability; and that much of the damage since as a result of Ecuador’s state-run oil company.''
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''Last year an Ecuadorian court told Chevron that they must pay $18.7 billion in damages for the environmental contamination, and resulting illnesses amongst the local population, that Texaco (now Chevron) had caused during its time in the country from 1972 to 1990.
Chevron is refusing to pay, claiming that the entire trial was a case of fraud. They say that in 1998 Texaco settled with the Ecuadorian government, paying for a $40 million cleanup of the area, a move that absolved it of all further liability; and that much of the damage since as a result of Ecuador’s state-run oil company.''
read more
Currency wars: ''China challenging dollar hegemony augurs geopolitical strains''
From Economic Times
"It's our currency and your problem," US Treasury Secretary John Connally famously said of the dollar in 1971.
More than 40 years later, China is doing something about it. Fed up with what it sees as Washington's malign neglect of the dollar, China is busily promoting the cross-border use of its own currency, the yuan, also known as the renminbi, in trade and investment.''
read more
"It's our currency and your problem," US Treasury Secretary John Connally famously said of the dollar in 1971.
More than 40 years later, China is doing something about it. Fed up with what it sees as Washington's malign neglect of the dollar, China is busily promoting the cross-border use of its own currency, the yuan, also known as the renminbi, in trade and investment.''
read more
''Hong Kong gets involved in currency wars''
From Pravda
''Special Administrative Region of China, Hong Kong, is now involved in the currency wars that take place around the world. Last week, the Hong Kong Monetary Authority (HKMA) conducted currency interventions, having sold its own currency in the amount of 603 million U.S. dollars in just one hour to stabilize the exchange rate of the Hong Kong currency against the U.S. dollar.''
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''Special Administrative Region of China, Hong Kong, is now involved in the currency wars that take place around the world. Last week, the Hong Kong Monetary Authority (HKMA) conducted currency interventions, having sold its own currency in the amount of 603 million U.S. dollars in just one hour to stabilize the exchange rate of the Hong Kong currency against the U.S. dollar.''
read more
Economy: ''Inflation Has Become A Way Of Life In America''
From ETF Daily News
''Inflation is a tax which is destroying the value of each dollar that we hold a little bit more every single day, and the American people deserve to know the truth about what is going on.
In this day and age, it simply does not pay to put money into long-term savings. When you finally pull your money out it will have far less purchasing power than it originally did.''
read more
''Inflation is a tax which is destroying the value of each dollar that we hold a little bit more every single day, and the American people deserve to know the truth about what is going on.
In this day and age, it simply does not pay to put money into long-term savings. When you finally pull your money out it will have far less purchasing power than it originally did.''
read more
''Seven Factors Driving Up Your Health Care Costs''
From Keiser Health News
''There is no one villain in the battle against rising health care costs. Currently, the United States spends more on health care services than any other country, exceeding $2.6 trillion, or about 18 percent of gross domestic product. Most years, medical spending rises faster than inflation and the economy as a whole. Many factors -- and nearly everyone -- contributes to those increases.''
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''There is no one villain in the battle against rising health care costs. Currently, the United States spends more on health care services than any other country, exceeding $2.6 trillion, or about 18 percent of gross domestic product. Most years, medical spending rises faster than inflation and the economy as a whole. Many factors -- and nearly everyone -- contributes to those increases.''
read more
Keiser Report: ''Fraud by Day, Fraud by Night'' (E361)
''Dr. Mercola Attacked by Biotech Bullies''
From Mercola.com
''We all know that labeling genetically engineered foods is a common sense right that is enjoyed by over 50 other countries, including China, India, and Russia.
But for Americans, that right has been taken away from us. The chemical companies and the junk food companies have done everything possible to hide the truth from Americans for the sake of their profits.''
read more
''We all know that labeling genetically engineered foods is a common sense right that is enjoyed by over 50 other countries, including China, India, and Russia.
But for Americans, that right has been taken away from us. The chemical companies and the junk food companies have done everything possible to hide the truth from Americans for the sake of their profits.''
read more
Thursday, November 1, 2012
''Who pocketed Gaddafi’s billions?''
From Voice of Russia via Phantom Report
''However, the sum which Gaddafi and his associates had in bank accounts, and which the West, in fact, has stolen – $ 150 bln – might have been enough to reconstruct the Libyan infrastructure after the damage caused by the bombs – if not fully, then, at least, partially. But now, that money has disappeared. Why and where? Here is what Anatoly Egorin says:
“The West most likely decided right after the very start of the anti-Gaddafi rebellion in Libya to do whatever possible to prevent Gaddafi from staying in power. His and his associates’ bank accounts were immediately frozen. Or, it would be probably better to say that it was only officially announced that they were frozen, but in reality they were stolen. Nobody can say for sure precisely who stole this money and where it is now. There is only some vague information that it was allegedly pocketed by the bankers themselves and that these bankers allegedly tried to launder this money in offshore zones. Attempts to find this money are now under way, but I doubt that it will ever be found.''
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''However, the sum which Gaddafi and his associates had in bank accounts, and which the West, in fact, has stolen – $ 150 bln – might have been enough to reconstruct the Libyan infrastructure after the damage caused by the bombs – if not fully, then, at least, partially. But now, that money has disappeared. Why and where? Here is what Anatoly Egorin says:
“The West most likely decided right after the very start of the anti-Gaddafi rebellion in Libya to do whatever possible to prevent Gaddafi from staying in power. His and his associates’ bank accounts were immediately frozen. Or, it would be probably better to say that it was only officially announced that they were frozen, but in reality they were stolen. Nobody can say for sure precisely who stole this money and where it is now. There is only some vague information that it was allegedly pocketed by the bankers themselves and that these bankers allegedly tried to launder this money in offshore zones. Attempts to find this money are now under way, but I doubt that it will ever be found.''
read more
''Sibel Edmonds on the US Police State''
Corbett Report Radio #249
Sibel Edmonds of BoilingFrogsPost.com joins us for a discussion on the police state in the US, the broken political system and the independent voices that are shining a light on it all. We also talk about the forthcoming Boiling Frogs Post DVD Vol. 2 and Sibel's memoir, Classified Woman.''
''Why Are American Troops Still Stationed In Europe?''
From Forbes
By Doug Bandow
''Fixing failed states, nation-building, and ending foreign civil wars should be dropped from the American military’s job description. Of course, it is wise to prepare for unexpected contingencies, but the Army should focus on the tasks most relevant to U.S. security.''
read more
By Doug Bandow
''Fixing failed states, nation-building, and ending foreign civil wars should be dropped from the American military’s job description. Of course, it is wise to prepare for unexpected contingencies, but the Army should focus on the tasks most relevant to U.S. security.''
read more
The Rockefeller's: ''The oligarchic family has exercised control over America’s foreign policy through their part-sponsorship of the Council on Foreign Relations, Trilateral Commission, and Bilderberg Group''
repost..............From Strategic Culture
By Wayne Madsen
''There is nothing in the Soviet paper that rings false about the Rockefellers… The oligarchic family has exercised control over America’s foreign policy through their part-sponsorship of the Council on Foreign Relations, Trilateral Commission, and Bilderberg Group – all three shadowy organizations of the world’s elite class who determine monetary, foreign, and military policies behind closed doors. Rockefeller funding of Columbia University and the University of Chicago have helped inflict on the United States some of the most brazen neo-conservatives serving inside and outside of government.
The paper states “In 1957, the Rockefeller oligarchy of American oil industrialists controlled a capital of 61.4 billion dollars. The precise size of the Rockefeller fortune is a state secret in America: the American press noted at one time that special measures are taken so that data concerning the largest fortunes of the U.S. are not published.''
''The policy of the State Department is born in the offices of Standard Oil. From there it is transmitted to the Department of Defense, where the heads of the Army and Navy approve it. When this policy gets to the State Department, it becomes the policy of the government and is supposed to be confirmed by Congress quickly and without any changes whatever. When an order for laws designed to protect the interests of the oil kings comes from the Rockefeller dynasty itself, the entire Congress – from the small to the great – comes to ‘attention’ and does what the bosses order it to do.''
read more
By Wayne Madsen
''There is nothing in the Soviet paper that rings false about the Rockefellers… The oligarchic family has exercised control over America’s foreign policy through their part-sponsorship of the Council on Foreign Relations, Trilateral Commission, and Bilderberg Group – all three shadowy organizations of the world’s elite class who determine monetary, foreign, and military policies behind closed doors. Rockefeller funding of Columbia University and the University of Chicago have helped inflict on the United States some of the most brazen neo-conservatives serving inside and outside of government.
The paper states “In 1957, the Rockefeller oligarchy of American oil industrialists controlled a capital of 61.4 billion dollars. The precise size of the Rockefeller fortune is a state secret in America: the American press noted at one time that special measures are taken so that data concerning the largest fortunes of the U.S. are not published.''
''The policy of the State Department is born in the offices of Standard Oil. From there it is transmitted to the Department of Defense, where the heads of the Army and Navy approve it. When this policy gets to the State Department, it becomes the policy of the government and is supposed to be confirmed by Congress quickly and without any changes whatever. When an order for laws designed to protect the interests of the oil kings comes from the Rockefeller dynasty itself, the entire Congress – from the small to the great – comes to ‘attention’ and does what the bosses order it to do.''
read more
''The “Renminbi Bloc”: China’s next step to the end of dollar supremacy''
From Daily Reckoning
By David Gonigam
''China has quietly taken a huge step toward supplanting the dollar as the world’s reserve currency.
A report from the Peterson Institute for International Economics concludes a “renminbi bloc” has formed in East Asia. That is, since the Panic of 2008, seven out of 10 major economies in East Asia have tracked the renminbi closer than the dollar. That includes South Korea, Indonesia, Malaysia, Singapore and Thailand.
The lone holdouts are Hong Kong, Vietnam and Mongolia.''
By David Gonigam
''China has quietly taken a huge step toward supplanting the dollar as the world’s reserve currency.
A report from the Peterson Institute for International Economics concludes a “renminbi bloc” has formed in East Asia. That is, since the Panic of 2008, seven out of 10 major economies in East Asia have tracked the renminbi closer than the dollar. That includes South Korea, Indonesia, Malaysia, Singapore and Thailand.
The lone holdouts are Hong Kong, Vietnam and Mongolia.''
''Gold price to rally regardless of who is elected President''
From The Telegraph
''Gold
is likely to go much higher in the course of the 45th President's four year
term – whether there is a President Obama or a President Romney, according
to analytics firm GoldCore.
''Canada’s housing market: is it a cooling? Is it a crash?''
From Macleans
''Last Friday, rating agency Moody’s announced that almost all of Canada’s biggest banks might be in for a credit downgrade, citing “concerns about high consumer debt levels and elevated housing prices.” It was just the latest warning that, after soaring for 14 years, Canada’s housing market might be finally headed back to Earth.''
continue reading
''Last Friday, rating agency Moody’s announced that almost all of Canada’s biggest banks might be in for a credit downgrade, citing “concerns about high consumer debt levels and elevated housing prices.” It was just the latest warning that, after soaring for 14 years, Canada’s housing market might be finally headed back to Earth.''
continue reading
''China’s America problem''
a canadian perspective.............From Macleans
''The war of words highlights how high tensions are running on both sides. That’s because both countries are under intense economic pressure. America is trying to pull out of a crushing recession (and a debt of more than $16 trillion) and put millions back to work. China is desperate to maintain economic growth, the glue holding the country of 1.3 billion together, while in the midst of a difficult leadership transition (tarred by the Bo Xilai corruption scandal). Caught in the middle is a $503-billion trade relationship that’s emerged as a cornerstone of the global economy.''
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''The war of words highlights how high tensions are running on both sides. That’s because both countries are under intense economic pressure. America is trying to pull out of a crushing recession (and a debt of more than $16 trillion) and put millions back to work. China is desperate to maintain economic growth, the glue holding the country of 1.3 billion together, while in the midst of a difficult leadership transition (tarred by the Bo Xilai corruption scandal). Caught in the middle is a $503-billion trade relationship that’s emerged as a cornerstone of the global economy.''
read more
''Shell Seeks to Pay Iran Debt With Grain''
From The New American
''Royal Dutch Shell is seeking to pay a $1.4 billion debt it owes to Iran that it has been prevented from settling since a European Union embargo that started July 1.
A report from Platts news service on June 25 said that the EU embargo included a ban on oil imports and a ban on the provision of insurance for tankers shipping Iranian oil. Shell, as an Anglo-Dutch-owned company, is subject to EU jurisdiction.
With previous attempts by Shell to settle the debt blocked by the embargo, Shell is seeking to circumvent the roadblock by paying off the debt with grain.''
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''Royal Dutch Shell is seeking to pay a $1.4 billion debt it owes to Iran that it has been prevented from settling since a European Union embargo that started July 1.
A report from Platts news service on June 25 said that the EU embargo included a ban on oil imports and a ban on the provision of insurance for tankers shipping Iranian oil. Shell, as an Anglo-Dutch-owned company, is subject to EU jurisdiction.
With previous attempts by Shell to settle the debt blocked by the embargo, Shell is seeking to circumvent the roadblock by paying off the debt with grain.''
read more
''Is Silver Money?''
From Financial Sense
By Ryan Jordan
''I’ll answer my own question again in the affirmative. I just recently received an old silver quarter as change when making a purchase (much to my surprise), and U.S. silver eagle coins are still treated as legal tender (however, they can normally only be used for their face value, not their bullion content, though this may be changing). If we go back further in history, according to Article 1 Section 10 of the U.S. Constitution, gold and silver are the only items states should recognize as money, and the first American dollar was made of silver. Leaving American shores, according to Jerome Smith, 51 countries use a word for money that is the same as the word for silver. Two notable examples include “plata” in Spanish and “argent” in French. Most dictionaries refer to money as being standard, divisible, portable, and indestructible. By this definition, silver certainly counts as money.''
read more
By Ryan Jordan
''I’ll answer my own question again in the affirmative. I just recently received an old silver quarter as change when making a purchase (much to my surprise), and U.S. silver eagle coins are still treated as legal tender (however, they can normally only be used for their face value, not their bullion content, though this may be changing). If we go back further in history, according to Article 1 Section 10 of the U.S. Constitution, gold and silver are the only items states should recognize as money, and the first American dollar was made of silver. Leaving American shores, according to Jerome Smith, 51 countries use a word for money that is the same as the word for silver. Two notable examples include “plata” in Spanish and “argent” in French. Most dictionaries refer to money as being standard, divisible, portable, and indestructible. By this definition, silver certainly counts as money.''
read more
''War Revisionism | Gary North''
From MisesTV..........''The Carl Davis Lecture, presented at the 2012 Mises Institute Supporters Summit: "The Truth About War: A Revisionist Approach". Recorded at Callaway Gardens, Georgia, on 26 October 2012. Includes an introduction by Llewellyn H. Rockwell, Jr.''
http://www.youtube.com/watch?v=ByWW9Va8UIo
Book Review: ''Foundations of the American Century: The Ford, Carnegie, and Rockefeller Foundations in the Rise of American Power''
From CounterPunch
By Joan Roelofs
''In addition to the incorporation of elites, mass public opinion and propaganda were not neglected by the foundations. Before and during World War II, The Rockefeller Foundation funded Princeton’s Office of Public Opinion Research led by Hadley Cantril, to enhance the “case for belligerence and to crush the case for isolation and neutrality.” “The U.S. Army. . . even went so far as to open an office at Princeton. . . a ‘Psychological Warfare Research Bureau.''
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By Joan Roelofs
''In addition to the incorporation of elites, mass public opinion and propaganda were not neglected by the foundations. Before and during World War II, The Rockefeller Foundation funded Princeton’s Office of Public Opinion Research led by Hadley Cantril, to enhance the “case for belligerence and to crush the case for isolation and neutrality.” “The U.S. Army. . . even went so far as to open an office at Princeton. . . a ‘Psychological Warfare Research Bureau.''
read more
Ned Naylor-Leyland: ''Gold Reserves at the BOE or NY Fed? No Chance of Getting Out With Any Metal!''
In this MUST READ interview, Naylor-Leyland stated that when you take into account the fractional reserve accounting by the bullion banks, the 50 ton annual gold repatriation number is much larger in terms of the impact on the underlying market.''
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''The Hidden Hand of American Hegemony: Petrodollar Recycling and International Markets''
From Google Books
"David Spiro has followed the money trail, and the story he tells, based on interviews and a painstaking accumulation of fragmentary evidence, contradicts the accepted beliefs both in the particulars and in broad outline. Most of the sudden flush of new oil wealth did not go to poor oil-importing countries around the globe. Instead the United States made a deal with Saudi Arabia to sell it U.S. securities in secret, a deal resulting in a substantial portion of Saudi assets being held by the U.S. government. With this arrangement, the U.S. government violated its agreements with allies in the developed world. Spiro argues that American policy makers took this action to prop up otherwise intolerable levels of U.S. public debt. In effect, recycled OPEC wealth subsidized the debt-happy policies of the U.S. government as well as the debt-happy consumerism of its citizenry."
read more
"David Spiro has followed the money trail, and the story he tells, based on interviews and a painstaking accumulation of fragmentary evidence, contradicts the accepted beliefs both in the particulars and in broad outline. Most of the sudden flush of new oil wealth did not go to poor oil-importing countries around the globe. Instead the United States made a deal with Saudi Arabia to sell it U.S. securities in secret, a deal resulting in a substantial portion of Saudi assets being held by the U.S. government. With this arrangement, the U.S. government violated its agreements with allies in the developed world. Spiro argues that American policy makers took this action to prop up otherwise intolerable levels of U.S. public debt. In effect, recycled OPEC wealth subsidized the debt-happy policies of the U.S. government as well as the debt-happy consumerism of its citizenry."
read more
''Oakland County, Michigan Defends U.S. Constitution Against NDAA''
From Activist Post
''Oakland County, Michigan, home to over 1.5 million people and sitting in the heart of Southeast Michigan, has been described by groups from the Center for Digital Government and the National Association of Counties as one of the best run county governments in the nation. The Oakland County Commissioners proved they have earned that reputation on Thursday.
Two weeks ago, the General Government Committee of the Oakland County Commission held a hearing to consider the resolution in opposition to the indefinite detention provisions of the NDAA. After hearing from People against the NDAA (PANDA) National, PANDA Bloomfield, the Michigan Tenth Amendment Center and Michigan Campaign for Liberty, along with individuals such as Anna Janek, Allegan County Commissioner Bill Sage and Congressional Candidate Don Valoric, the committee moved to vote on the resolution
The resolution passed unanimously out of committee with a 9-0 vote.''
read more
''Oakland County, Michigan, home to over 1.5 million people and sitting in the heart of Southeast Michigan, has been described by groups from the Center for Digital Government and the National Association of Counties as one of the best run county governments in the nation. The Oakland County Commissioners proved they have earned that reputation on Thursday.
Two weeks ago, the General Government Committee of the Oakland County Commission held a hearing to consider the resolution in opposition to the indefinite detention provisions of the NDAA. After hearing from People against the NDAA (PANDA) National, PANDA Bloomfield, the Michigan Tenth Amendment Center and Michigan Campaign for Liberty, along with individuals such as Anna Janek, Allegan County Commissioner Bill Sage and Congressional Candidate Don Valoric, the committee moved to vote on the resolution
The resolution passed unanimously out of committee with a 9-0 vote.''
read more
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