From DetNews
''Ford Motor Co. expects to lose $1.5 billion in Europe this year,
reducing its capacity on the continent by nearly 20 percent and expects
to save nearly half a billion dollars annually by closing three plants,
the company confirmed Thursday.''
read more
Thursday, October 25, 2012
''China knows that gold is rigged''
From Market Watch
''A cable from the U.S. embassy in Beijing on April 28, 2009 , brought to light by wikileaks, stated the following in this regard: "According to China's National Foreign Exchanges Administration China's gold reserves have recently increased. The U.S. and Europe have always suppressed the rising price of gold. They intend to weaken gold's function as an international reserve currency. They don't want to see other countries turning to gold reserves instead of the U.S. dollar or euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar's role as the international reserve currency. China's increased gold reserves will thus act as a model and lead other countries toward reserving more gold. Large gold reserves are also beneficial in promoting the internationalization of the RMB.''
read more
''A cable from the U.S. embassy in Beijing on April 28, 2009 , brought to light by wikileaks, stated the following in this regard: "According to China's National Foreign Exchanges Administration China's gold reserves have recently increased. The U.S. and Europe have always suppressed the rising price of gold. They intend to weaken gold's function as an international reserve currency. They don't want to see other countries turning to gold reserves instead of the U.S. dollar or euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar's role as the international reserve currency. China's increased gold reserves will thus act as a model and lead other countries toward reserving more gold. Large gold reserves are also beneficial in promoting the internationalization of the RMB.''
read more
ZeroHedge: ''Silver Demand In China For Wealth Protection To Climb to Record 7,700 Tons''
From ZeroHedge
''I’m bullish on silver, so I personally have stockpiled 3 tons of it at home,” Yang Guohui, president at Hunan Yishui Rare & Precious Metals Recycling Co., said in Xiamen on Oct. 17. Yishui is based in Yongxing County, Hunan province, where about 20 percent of China’s silver is from, according to Huang Xiaoming, head of the local precious metals management bureau.''
read more
''I’m bullish on silver, so I personally have stockpiled 3 tons of it at home,” Yang Guohui, president at Hunan Yishui Rare & Precious Metals Recycling Co., said in Xiamen on Oct. 17. Yishui is based in Yongxing County, Hunan province, where about 20 percent of China’s silver is from, according to Huang Xiaoming, head of the local precious metals management bureau.''
read more
''Russia’s new role in Central Asia''
From 'There are no Sunglasses'
''Russia’s recent striking of far-reaching deals in the energy and security spheres with Kyrgyzstan and Tajikistan show Moscow’s determination to regain ground in Central Asia. Russia has ensured its continued military presence in the region as the Nato withdrawal from Afghanistan approaches, offering in return support on key economic issues – hydropower in Kyrgyzstan and fuel in Tajikistan.''
read more
''Russia’s recent striking of far-reaching deals in the energy and security spheres with Kyrgyzstan and Tajikistan show Moscow’s determination to regain ground in Central Asia. Russia has ensured its continued military presence in the region as the Nato withdrawal from Afghanistan approaches, offering in return support on key economic issues – hydropower in Kyrgyzstan and fuel in Tajikistan.''
read more
Must Watch "Rumble in the Monetary Jungle" with Karl Denninger and Mike Norman!!''
''The Bear Trap (Afghanistan’s Untold Story)''
From 'There are no Sunglasses'
''The author, Brigadier Mohammad Yousaf, was head of the Afghan Bureau of Pakistan’s Inter-Service Intelligence and as such was effectively the Mujahideen’s commander-in-chief. He controlled the flow of thousands of tons of arms across Pakistan and into its occupied neighbor, arms that were bought with CIA and Saudi Arabian funds from the USA. One of the Mujahideen’s close allies was none other than Osama Bin Laden. This compelling book was put together with great skill the by military historian, Mark Adkin in conjunction with Brigadier Mohammad Yousaf and is essential reading for anyone interested in the truth behind the Afghanistan War which led to the conditions that exist there today.''
read more
''The author, Brigadier Mohammad Yousaf, was head of the Afghan Bureau of Pakistan’s Inter-Service Intelligence and as such was effectively the Mujahideen’s commander-in-chief. He controlled the flow of thousands of tons of arms across Pakistan and into its occupied neighbor, arms that were bought with CIA and Saudi Arabian funds from the USA. One of the Mujahideen’s close allies was none other than Osama Bin Laden. This compelling book was put together with great skill the by military historian, Mark Adkin in conjunction with Brigadier Mohammad Yousaf and is essential reading for anyone interested in the truth behind the Afghanistan War which led to the conditions that exist there today.''
read more
''The Impact of Obama's and Romney’s Tax Plans on States''
From Governing.com
''The presidential candidates’ tax proposals may lack detail, but one thing is clear: State taxes, which are closely tied to the federal tax code, could change dramatically depending on the outcome of the election.
President Barack Obama and his Republican challenger Mitt Romney differ sharply on taxes, especially personal income taxes. President Obama says he wants to raise taxes on people earning more than $250,000 a year. He also backs “the Buffett Rule,” which would require individuals with an adjusted gross income of more than $1 million to pay at least 30 percent in taxes. Obama promises to close corporate tax loopholes, including one that benefits companies that move overseas.''
read more
''The presidential candidates’ tax proposals may lack detail, but one thing is clear: State taxes, which are closely tied to the federal tax code, could change dramatically depending on the outcome of the election.
President Barack Obama and his Republican challenger Mitt Romney differ sharply on taxes, especially personal income taxes. President Obama says he wants to raise taxes on people earning more than $250,000 a year. He also backs “the Buffett Rule,” which would require individuals with an adjusted gross income of more than $1 million to pay at least 30 percent in taxes. Obama promises to close corporate tax loopholes, including one that benefits companies that move overseas.''
read more
''Could The Central Bank Vaults Be Empty?''
From ETF Daily News
By Charles Goyette
''The importance of the question accelerates in the face of global money-printing, which is also accelerating. Since the start of the economic meltdown five years ago, the balance sheets of the world’s central banks have been growing at a frantic pace.
The U.K. has led the pack, up 362%, followed by the United States, which is up 223% — even before QE III. China is printing money
as well, up 151% during the period, the European Central Bank, 146%, and Japan, 83%.''
''That’s a lot of money-printing.''
read more
By Charles Goyette
''The importance of the question accelerates in the face of global money-printing, which is also accelerating. Since the start of the economic meltdown five years ago, the balance sheets of the world’s central banks have been growing at a frantic pace.
The U.K. has led the pack, up 362%, followed by the United States, which is up 223% — even before QE III. China is printing money
as well, up 151% during the period, the European Central Bank, 146%, and Japan, 83%.''''That’s a lot of money-printing.''
read more
''China expands S. America energy footprint''
From UPI via Phantom Report
''China is expanding its energy footprint in Latin America in a two-pronged strategy to secure its economy’s fuel needs and create a niche for future trade in the southern region.
China’s latest foray into equity investment is a 10 percent share of offshore Brazilian oil and gas reserves awaiting development as part of a multibillion-dollar program.
Brazil has been choosing equity partners with an eye on deeper collaboration that opens business opportunities for its own commodities and manufactures and China offers fits the bill perfectly — for now.''
read more
''China is expanding its energy footprint in Latin America in a two-pronged strategy to secure its economy’s fuel needs and create a niche for future trade in the southern region.
China’s latest foray into equity investment is a 10 percent share of offshore Brazilian oil and gas reserves awaiting development as part of a multibillion-dollar program.
Brazil has been choosing equity partners with an eye on deeper collaboration that opens business opportunities for its own commodities and manufactures and China offers fits the bill perfectly — for now.''
read more
''Currency Wars Part II''
From Market Oracle
By Jesse
''Gold and silver are intimately involved in the unfolding currency war, because they take no sides, and have no counterparty risk. No one can print them. And this is why I think GATA is right, not because of the evidence they have, which is more substantial than one might suspect given obsessive secrecy and the disinformation campaigns, but because it is exactly what one would do if there was to be a currency war, and such things as gold and silver existed. It is basic strategy of war: seek to control the high ground. And along with oil, gold and silver are strategic high ground in a currency war. And the first victim in a war is the truth.''
read more
By Jesse
''Gold and silver are intimately involved in the unfolding currency war, because they take no sides, and have no counterparty risk. No one can print them. And this is why I think GATA is right, not because of the evidence they have, which is more substantial than one might suspect given obsessive secrecy and the disinformation campaigns, but because it is exactly what one would do if there was to be a currency war, and such things as gold and silver existed. It is basic strategy of war: seek to control the high ground. And along with oil, gold and silver are strategic high ground in a currency war. And the first victim in a war is the truth.''
read more
John Williams: ''Fed Money Printing will Trigger a Sell-Off Providing Start''
''America’s Pacific Zone of War''
From Strategic Culture
By Wayne Madsen
''The United States has successfully installed two America-compliant leaders as the heads of government of Australia and New Zealand, Washington’s two most important Asia-Pacific regional allies. Both leaders, Australian Prime Minister Julia Gillard and New Zealand Prime Minister John Key, rose rapidly within their respective parties, a sure sign that they had outside support, likely from the Central Intelligence Agency, which has historically meddled in the domestic affairs of Australia and New Zealand…''
read more
By Wayne Madsen
''The United States has successfully installed two America-compliant leaders as the heads of government of Australia and New Zealand, Washington’s two most important Asia-Pacific regional allies. Both leaders, Australian Prime Minister Julia Gillard and New Zealand Prime Minister John Key, rose rapidly within their respective parties, a sure sign that they had outside support, likely from the Central Intelligence Agency, which has historically meddled in the domestic affairs of Australia and New Zealand…''
read more
Wednesday, October 24, 2012
''Federal Prosecutors Sue Bank of America Over Mortgage Program''
From NY Times.................read more
''Federal prosecutors sued Bank of America on Wednesday, accusing the bank of carrying out a mortgage scheme that defrauded the government during the depths of the financial crisis.''
''Federal prosecutors sued Bank of America on Wednesday, accusing the bank of carrying out a mortgage scheme that defrauded the government during the depths of the financial crisis.''
''Qatar harnesses the Arab Spring''
From Indian Punchline
By MK Bhadrakumar
By MK Bhadrakumar
''The visit by the emir of Qatar Sheikh Hamad bin Khalifa Al Thani to Gaza becomes a landmark event.
It is the first visit by a head of state to Gaza, which signifies an
effective end to Hamas’s political isolation and at the same time
further boosts Hamas’ stature as the voice of the Palestinians vis-a-vis
Fatah.
To be sure, Hamas is delighted and they laid out a red carpet
welcome for the emir and, equally, the chairman of the Palestinian
Authority Mahmoud Abbas should be an unhappy man. But Abbas is not the
only unhappy party — so is Israel and some others, too. ''
''America the Gutted: The documentary''
From Global Post
Solana Pyne, Michael Condon and Jonah M. Kessel.
watch the video
''Travel
from the shuttered factory towns of North Carolina and the Pacific
Northwest to the emerging boomtowns of Asia. For millions around the
world, life will never be the same.''
Solana Pyne, Michael Condon and Jonah M. Kessel.
''Travel
from the shuttered factory towns of North Carolina and the Pacific
Northwest to the emerging boomtowns of Asia. For millions around the
world, life will never be the same.''
watch the video
''Pennsylvania... Montgomery Co... Recorder of Deeds, Nancy Becker Sues for 'Quiet Title' for 130,000 MERS Homeowners!''
h/t infocyde........................... From Sherrie Questioning All
''This is HUGE in my opinion. The court has denied MERS (defendant's) request for dismissal of the suit. The court did dismiss the portion of "Civil Conspiracy" of the suit.
What Nancy Becker did was to bring a suit to require assignments and the transfer fee (about $45 each one) to be recorded. The whole suit is due to the county losing money due to MERS fraud of not recording the assignments of loans.''
read more
''This is HUGE in my opinion. The court has denied MERS (defendant's) request for dismissal of the suit. The court did dismiss the portion of "Civil Conspiracy" of the suit.
What Nancy Becker did was to bring a suit to require assignments and the transfer fee (about $45 each one) to be recorded. The whole suit is due to the county losing money due to MERS fraud of not recording the assignments of loans.''
read more
''Food-Safety Inspectors Struggle to Keep Up''
From Governing.com
............''foodborne illness costs the United States an estimated $77 billion annually.
And, in recent years, there are fewer and fewer government resources to combat it. Specific figures are hard to pin down, but a 2008 survey from the Association of Food and Drug Officials found that state public health officials performed about 32,000 fewer inspections that year than they did in 2001. To compound the issue, an estimated 34,000 public health jobs were cut during recent years because of the broader state and local budget crisis. The federal authorities have dealt with similar shortfalls. The Washington Post reported in 2010 that the number of FDA regulatory actions fell from 614 in 2004 to 283 in 2008, as staff numbers dropped.''
............''foodborne illness costs the United States an estimated $77 billion annually.
And, in recent years, there are fewer and fewer government resources to combat it. Specific figures are hard to pin down, but a 2008 survey from the Association of Food and Drug Officials found that state public health officials performed about 32,000 fewer inspections that year than they did in 2001. To compound the issue, an estimated 34,000 public health jobs were cut during recent years because of the broader state and local budget crisis. The federal authorities have dealt with similar shortfalls. The Washington Post reported in 2010 that the number of FDA regulatory actions fell from 614 in 2004 to 283 in 2008, as staff numbers dropped.''
''Uruguay Rejects “The War on Drugs”: Law Proposes State Control of Marijuana Production and Distribution''
From Upside Down World
''The government of President José Mujica achieved its main objective when it proposed legalizing marijuana: to spark a broad national debate regarding drugs, prohibitionist policies, and the repressive measures used to date.
State participation “would ruin” the market “ for the marihuana traffickers “because we will sell the product cheaper at a price you can’t get on the black market”, Mujica said to CNN [1]. The president told reporter Andres Oppenheimer “that a private business” could be in charge of selling marijuana, under strict state control.''
read more
''The government of President José Mujica achieved its main objective when it proposed legalizing marijuana: to spark a broad national debate regarding drugs, prohibitionist policies, and the repressive measures used to date.
State participation “would ruin” the market “ for the marihuana traffickers “because we will sell the product cheaper at a price you can’t get on the black market”, Mujica said to CNN [1]. The president told reporter Andres Oppenheimer “that a private business” could be in charge of selling marijuana, under strict state control.''
read more
Vladimir Putin: ''The New Global Shah of Oil''
From Financial Sense
By Marin Katusa
''Exxon Mobil is no longer the world's number-one oil producer. As of yesterday, that title belongs to Putin Oil Corp - oh, whoops. I mean the title belongs to Rosneft, Russia's state-controlled oil company.''
read more
By Marin Katusa
''Exxon Mobil is no longer the world's number-one oil producer. As of yesterday, that title belongs to Putin Oil Corp - oh, whoops. I mean the title belongs to Rosneft, Russia's state-controlled oil company.''
read more
''Gold is part of the new economic order''
From Finance and Economics
''One thing is certain: gold is not part of the old economic order, which is comprised of the US, UK, Euroland, and Japan. The new economic order is different, embodied in the Shanghai Co-operation Organisation (SCO) with its members, observer states and affiliate nations. Those interested in the future course of precious metal and commodity prices should take the trouble to understand the significance of the SCO. The SCO is already driving prices in commodity markets, and this transfer of power from the old to the new economic order is of tectonic magnitude, but the pace is far from tectonic, more like volcanic.''
read more
''One thing is certain: gold is not part of the old economic order, which is comprised of the US, UK, Euroland, and Japan. The new economic order is different, embodied in the Shanghai Co-operation Organisation (SCO) with its members, observer states and affiliate nations. Those interested in the future course of precious metal and commodity prices should take the trouble to understand the significance of the SCO. The SCO is already driving prices in commodity markets, and this transfer of power from the old to the new economic order is of tectonic magnitude, but the pace is far from tectonic, more like volcanic.''
read more
''"Obama the Muslim:" Ploy to Cover-up Years of US-Al Qaeda Support''
From Land Destroyer
''Neo-Conservative Frank Gaffney thinks you are stupid. After plotting for the better part of a decade, arming Al Qaeda across the Arab World in a documented conspiracy to use the notorious terror group as a proxy against Lebanon, Syria, and Iran, Gaffney and his colleagues are attempting to jettison responsibility and all the blunders that have come with the plot, on US President Barack Obama. President Obama for his part, faithfully and knowingly carried out this strategy, "heeding" signed letters sent to him from Gaffney's warmongering circle, imploring him to not only support terrorists in Libya and Syria, but to do so more overtly.''
read more
''Neo-Conservative Frank Gaffney thinks you are stupid. After plotting for the better part of a decade, arming Al Qaeda across the Arab World in a documented conspiracy to use the notorious terror group as a proxy against Lebanon, Syria, and Iran, Gaffney and his colleagues are attempting to jettison responsibility and all the blunders that have come with the plot, on US President Barack Obama. President Obama for his part, faithfully and knowingly carried out this strategy, "heeding" signed letters sent to him from Gaffney's warmongering circle, imploring him to not only support terrorists in Libya and Syria, but to do so more overtly.''
read more
''Chinese, US, Russian firms to set up ratings agency''
From Straits Times
''Chinese ratings agency Dagong said on Tuesday it was tying up with US and Russian partners to form a new "independent" group to rival US-based agencies it claims have "proven inadequate".
The Chinese firm will set up the joint venture with Egan-Jones Ratings Co. (EJR), based in Pennsylvania, and Russia's RusRating JSC, it said in an invitation for a press conference on Wednesday to unveil the new company.''
read more
''Chinese ratings agency Dagong said on Tuesday it was tying up with US and Russian partners to form a new "independent" group to rival US-based agencies it claims have "proven inadequate".
The Chinese firm will set up the joint venture with Egan-Jones Ratings Co. (EJR), based in Pennsylvania, and Russia's RusRating JSC, it said in an invitation for a press conference on Wednesday to unveil the new company.''
read more
''The Fiscal Cliff, the Fiscal Gap, and the Lame Duck Congress''
From The New American
By Bob Adelmann
''Private congressional conversations about how to keep the country from racing off the fiscal cliff in January are already taking place in Washington, but few are willing to give many details. With the promise of anonymity, congressional staffers from both sides of the aisle are working feverishly to come up with solutions to the onrushing fiscal train wreck.
Investigator Richard Rubin, writing for Bloomberg, said the Republicans are building a “toolbox” of options — including raising taxes — that could be used during the lame duck session following Election Day. Which tools will be used depends on how the elections turn out. Likewise, Democrat staffers are developing their game plans as well, but tax cuts are not in their “toolbox” according to unnamed parties familiar with the discussions.
Which tools each side will be using depends upon if the Democrats retain control of the Senate and the White House, but fail to gain control of the House. If Romney wins, and the Senate goes Republican, then certain tools in the Republican toolbox will never see the light of day, including tax increases and cuts in military spending.''
read more
By Bob Adelmann
''Private congressional conversations about how to keep the country from racing off the fiscal cliff in January are already taking place in Washington, but few are willing to give many details. With the promise of anonymity, congressional staffers from both sides of the aisle are working feverishly to come up with solutions to the onrushing fiscal train wreck.
Investigator Richard Rubin, writing for Bloomberg, said the Republicans are building a “toolbox” of options — including raising taxes — that could be used during the lame duck session following Election Day. Which tools will be used depends on how the elections turn out. Likewise, Democrat staffers are developing their game plans as well, but tax cuts are not in their “toolbox” according to unnamed parties familiar with the discussions.
Which tools each side will be using depends upon if the Democrats retain control of the Senate and the White House, but fail to gain control of the House. If Romney wins, and the Senate goes Republican, then certain tools in the Republican toolbox will never see the light of day, including tax increases and cuts in military spending.''
read more
''TPP Treaty Tolls Death Knell for Mexican Countryside''
From Upside Down World
''The Trans-Pacific Strategic Economic Partnership Agreement negotiations, which Mexico is to join in December, are threatening to eliminate the last defences of the country’s agricultural sector.
Farmers in the United States, one of the future partners in the treaty, have asked their government to negotiate flexibilisation of the phytosanitary measures applied by Mexico, which are the final barrier against free entrance of agricultural products that compete against local crops.''
read more
''The Trans-Pacific Strategic Economic Partnership Agreement negotiations, which Mexico is to join in December, are threatening to eliminate the last defences of the country’s agricultural sector.
Farmers in the United States, one of the future partners in the treaty, have asked their government to negotiate flexibilisation of the phytosanitary measures applied by Mexico, which are the final barrier against free entrance of agricultural products that compete against local crops.''
read more
Book Review: ''The War on Drugs Is a War on Freedom''
From The New American
''In his book The War on Drugs Is a War on Freedom, Laurence Vance illustrates the absurdities and inconsistencies of the federal government’s drug war in America, and explains why, in his view, the war on drugs is unconstitutional and should be ended immediately.
When it comes to substances that are smoked, injected, snorted, inhaled, or otherwise ingested into one’s body, Americans, and conservatives in particular, are very inconsistent, according to Vance.''
read more
''In his book The War on Drugs Is a War on Freedom, Laurence Vance illustrates the absurdities and inconsistencies of the federal government’s drug war in America, and explains why, in his view, the war on drugs is unconstitutional and should be ended immediately.
When it comes to substances that are smoked, injected, snorted, inhaled, or otherwise ingested into one’s body, Americans, and conservatives in particular, are very inconsistent, according to Vance.''
read more
''Global Water Crisis, U.S. Eyes Canada's Great Lakes''
From Market Oracle
By Richard Mills
''The number of people living in areas affected by severe water stress is expected to increase to almost four billion people...''
read more
By Richard Mills
''The number of people living in areas affected by severe water stress is expected to increase to almost four billion people...''
read more
Tuesday, October 23, 2012
''Keiser Report: Asphyxiation Nation'' (E357)
''Chris Whalen's reality check: So-called housing recovery is investor driven''
From Housing Wire
''The problem, he says, is the force behind the recovery — namely investors who are snapping up single-family homes to turn them into rentals — does not alone signify a recovery.
"While a number of exuberant private equity funds have been soaking up the excess supply of housing in markets such as Arizona, Florida and California ... the supply of qualified individuals with the capacity to buy and actually occupy a home has fallen dramatically," Whalen wrote.''
read more
''The problem, he says, is the force behind the recovery — namely investors who are snapping up single-family homes to turn them into rentals — does not alone signify a recovery.
"While a number of exuberant private equity funds have been soaking up the excess supply of housing in markets such as Arizona, Florida and California ... the supply of qualified individuals with the capacity to buy and actually occupy a home has fallen dramatically," Whalen wrote.''
read more
''Icelanders approve their crowdsourced constitution''
a model for the world.....................From GIGAOM
''Iceland’s citizens were given a chance to help forge a new constitution for their country through Facebook and Twitter, so it’s not surprising that they backed the resulting draft. Now it’s over to the politicians.''
read more
''Iceland’s citizens were given a chance to help forge a new constitution for their country through Facebook and Twitter, so it’s not surprising that they backed the resulting draft. Now it’s over to the politicians.''
read more
''Crime Wave Sweeps City of London''
From Eurasia Review
By James Petras
''A veritable crime wave[1] has invaded the City of London, where millionaire investment bankers cook the books for billionaire clients and bilk the Treasury to pay their fines and flout the Law. Courses in business ethics are obligatory at Oxford and Cambridge since it has become standard operating procedure for mega-swindlers to plead guilty ,to pay a fine and avoid jail and to solemnly promise to never, ever, flout the law….. until the next mega-deal.''
''London has become the center of global financial capital by engaging in long term large scale active collaboration with multi-billion pound drug, arms, people smuggling and sex-slave cartels. The “Brits” specialize in laundering funds from the Mexican, Colombian, Peruvian, Russian, Polish, Czech, Nigerian narco-kings. Albanian white slavers have their ‘private bankers’ at prestigious City banks with a preference for graduates of the London School of Economics.''
read more
By James Petras
''A veritable crime wave[1] has invaded the City of London, where millionaire investment bankers cook the books for billionaire clients and bilk the Treasury to pay their fines and flout the Law. Courses in business ethics are obligatory at Oxford and Cambridge since it has become standard operating procedure for mega-swindlers to plead guilty ,to pay a fine and avoid jail and to solemnly promise to never, ever, flout the law….. until the next mega-deal.''
''London has become the center of global financial capital by engaging in long term large scale active collaboration with multi-billion pound drug, arms, people smuggling and sex-slave cartels. The “Brits” specialize in laundering funds from the Mexican, Colombian, Peruvian, Russian, Polish, Czech, Nigerian narco-kings. Albanian white slavers have their ‘private bankers’ at prestigious City banks with a preference for graduates of the London School of Economics.''
read more
''The Mission Creep Destroying Wealth Around the World''
From Money Morning
''Anticipating an inflationary tsunami is not a precise science because market confidence in intangible paper currency does not persist linearly. It lasts until it doesn’t last anymore, and then it runs the risk of shattering instantaneously, along with faith in most G7 government debt. Like Hemingway’s idea of bankruptcy, we go broke slowly, and then all at once.''
read more
''Anticipating an inflationary tsunami is not a precise science because market confidence in intangible paper currency does not persist linearly. It lasts until it doesn’t last anymore, and then it runs the risk of shattering instantaneously, along with faith in most G7 government debt. Like Hemingway’s idea of bankruptcy, we go broke slowly, and then all at once.''
read more
''Chris Hedges on Occupy, Black Bloc, conservatives and more''
Produced by Tim Powell.
''NUMBED BY LIES''
From News With Views
By Dr Eugene Narrett
''Few guests even suggest the emperor is naked, that purchasing $40B ‘mortgage-backed securities’ / month will create jobs. Postmodern governance is insane and the media spreads the madness in the name of reason and truth: when you want a lie to be believed, make it a big lie and repeat it as often as possible. Don’t blame the media: it’s their job. Words mean whatever they say they mean and Humpty Dumpty is about to have its great fall.''
read more
By Dr Eugene Narrett
''Few guests even suggest the emperor is naked, that purchasing $40B ‘mortgage-backed securities’ / month will create jobs. Postmodern governance is insane and the media spreads the madness in the name of reason and truth: when you want a lie to be believed, make it a big lie and repeat it as often as possible. Don’t blame the media: it’s their job. Words mean whatever they say they mean and Humpty Dumpty is about to have its great fall.''
read more
''Obama: The unreported truth''
From Red Pepper
By Oliver Eagleton ......a fifteen year-old school student from Dublin, Ireland
''With the final presidential debate upon us, liberals and ill-informed leftists will no doubt be jumping on the Obama bandwagon once again. The astoundingly charismatic president already holds a well-deserved award for 'best marketing campaign 2008,' along with an almost laughable Nobel Peace Prize; but before one goes door to door for good ol’ Barack, a look at his lesser-known foreign policy is in order. I will try to steer clear of issues which were given any substantial coverage in the mainstream media, and any domestic policies, such as healthcare and tax-reform, where he has made crippling compromises. Instead, my goal is to display the continuity and, in many ways, escalation of hostile Bush policies, and to show the smiling democrat for what he really is.''
read more
By Oliver Eagleton ......a fifteen year-old school student from Dublin, Ireland
''With the final presidential debate upon us, liberals and ill-informed leftists will no doubt be jumping on the Obama bandwagon once again. The astoundingly charismatic president already holds a well-deserved award for 'best marketing campaign 2008,' along with an almost laughable Nobel Peace Prize; but before one goes door to door for good ol’ Barack, a look at his lesser-known foreign policy is in order. I will try to steer clear of issues which were given any substantial coverage in the mainstream media, and any domestic policies, such as healthcare and tax-reform, where he has made crippling compromises. Instead, my goal is to display the continuity and, in many ways, escalation of hostile Bush policies, and to show the smiling democrat for what he really is.''
read more
''FOFOA blog shows themselves''
http://www.youtube.com/user/silverfuturist?feature=watch
http://fofoa.blogspot.com/
http://www.youtube.com/user/FOFOAtv?feature=watch
Hope the readers of nakedempire are reading FOFOA...........good stuff!!
GoldSeek Radio's Chris Waltzek talks to CHARLES GOYETTE - Oct 18, 2012
http://www.goldseek.com/ http://radio.goldseek.com/
GoldSeek Radio's Chris Waltzek talks to Charles Goyette author of "The Dollar Meltdown" and "Red Blue and Broke All Over" http://www.redblueandbroke.com/
http://freedomprosperity.investorplace.com/ http://freedomprosperity.investorplace.com/book
GoldSeek Radio's Chris Waltzek talks to Charles Goyette author of "The Dollar Meltdown" and "Red Blue and Broke All Over" http://www.redblueandbroke.com/
http://freedomprosperity.investorplace.com/ http://freedomprosperity.investorplace.com/book
Monday, October 22, 2012
''Doug Casey on how to Hedge Against Political Risk in the Greater Depression''
Iceland FM: ''We don't force people to bailout banks''
Andrew Jackson: ''The Irony of Paper Money''
remember this as you watch the 2 idiots debate tonite.....the foreign policy debate is really a debate about endless wars and debt servitude to wall street because the irony of the dollar (as reserve currency/petrodollar) is that even tho it has brought us great wealth and power it will ultimately destroy us.........
From 'Presidents By The Book Blog'
''Andrew Jackson was a populist and always was suspicious of power in the hands of the elite. He saw the bank as something that could buy influence of politicians (there was probably some truth to this) and something that was inherently undemocratic as it could print money without oversight of elected officials (also some truth to that)
He favored an economic system with gold and other precious metals as the currency. He felt that these are the only monetary instruments that cannot be manipulated by powerful interests.''
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From 'Presidents By The Book Blog'
''Andrew Jackson was a populist and always was suspicious of power in the hands of the elite. He saw the bank as something that could buy influence of politicians (there was probably some truth to this) and something that was inherently undemocratic as it could print money without oversight of elected officials (also some truth to that)
He favored an economic system with gold and other precious metals as the currency. He felt that these are the only monetary instruments that cannot be manipulated by powerful interests.''
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''Our Fiat Dollar Has Cost the United States $80 Trillion''
see triffen's dilemma...............From Forbes
By Louis Woodhill
''During the 22 years from 1952 through 1973, our economy grew at a real average rate of 3.81%. Over the subsequent 37 years, U.S. real GDP growth averaged 2.68%. If our economy had grown at the same rate 1974 – 2010 that it did 1952 – 1973, America’s real GDP ($2011) would have been $22.2 trillion in 2010, a full 50% higher than the actual result of $14.8 trillion. Federal revenues in 2010 would have come in at about $4.1 trillion, and the federal budget would have shown a $0.6 trillion surplus instead of a $1.5 trillion deficit, despite our current excessive level of federal spending.''
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By Louis Woodhill
''During the 22 years from 1952 through 1973, our economy grew at a real average rate of 3.81%. Over the subsequent 37 years, U.S. real GDP growth averaged 2.68%. If our economy had grown at the same rate 1974 – 2010 that it did 1952 – 1973, America’s real GDP ($2011) would have been $22.2 trillion in 2010, a full 50% higher than the actual result of $14.8 trillion. Federal revenues in 2010 would have come in at about $4.1 trillion, and the federal budget would have shown a $0.6 trillion surplus instead of a $1.5 trillion deficit, despite our current excessive level of federal spending.''
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''The Fiat Currency Cyclone Gathers''
From Market Oracle
''The present experience of the United States and Europe from the abuse of fiat money has been a recurring drama for millennia. Kingdoms, the reign of pharaohs, oligarchies, dictatorships, republics and empires have imploded from within largely due to discredited money.
The Western Roman Empire fell a thousand years earlier than the Byzantine Romans by debasing the silver content of coinage to fund military adventures. The debasement of the pound helped the sun set across the British Empire. In the last century national fiat currencies have drown in hyperinflation in Germany, Italy, Yugoslavia, Hungary, Zimbabwe and Argentina (three times) to name the ones that come to mind to a Westerner.''
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''The present experience of the United States and Europe from the abuse of fiat money has been a recurring drama for millennia. Kingdoms, the reign of pharaohs, oligarchies, dictatorships, republics and empires have imploded from within largely due to discredited money.
The Western Roman Empire fell a thousand years earlier than the Byzantine Romans by debasing the silver content of coinage to fund military adventures. The debasement of the pound helped the sun set across the British Empire. In the last century national fiat currencies have drown in hyperinflation in Germany, Italy, Yugoslavia, Hungary, Zimbabwe and Argentina (three times) to name the ones that come to mind to a Westerner.''
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''The Irony of Money | Myles Dyer''
''RealtyTrac: 65% of housing markets worse off than in 2008''
From Housing Wire
''Sixty-five percent of U.S. housing markets studied by RealtyTrac are worse off than they were four years ago, according to the Irvine, Calif.-based real estate research firm. The results of the survey arrive the same day as the final presidential debate and just weeks before the general election.''
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''Sixty-five percent of U.S. housing markets studied by RealtyTrac are worse off than they were four years ago, according to the Irvine, Calif.-based real estate research firm. The results of the survey arrive the same day as the final presidential debate and just weeks before the general election.''
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''The yuan is displacing the dollar as a key currency''
From The Economist
''The greenback has in the past played a dominant role in East Asia. But if anything, the region is now on a yuan standard. Seven currencies in the region now follow the yuan, or redback, more closely than the green (see chart). When the dollar moves by 1%, East Asia’s currencies move in the same direction by 0.38% on average. When the yuan moves, they shift by 0.53%.''
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''The greenback has in the past played a dominant role in East Asia. But if anything, the region is now on a yuan standard. Seven currencies in the region now follow the yuan, or redback, more closely than the green (see chart). When the dollar moves by 1%, East Asia’s currencies move in the same direction by 0.38% on average. When the yuan moves, they shift by 0.53%.''
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''San Bernadino’s coming pension brawl''
From Reuters
By Cate Long
''The bankrupt cities San Bernadino and Stockton, California share similar fiscal woes. Both include very high employee pay and benefits. Both have sought the protection of Chapter 9 municipal bankruptcy and are shielded by the courts from any new litigation. The court protection gives the cities time and fiscal space to negotiate with employees and creditors, and to organize their financial affairs. It’s hard to imagine the difficulty of running a city in bankruptcy with dwindling cash reserves.''
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By Cate Long
''The bankrupt cities San Bernadino and Stockton, California share similar fiscal woes. Both include very high employee pay and benefits. Both have sought the protection of Chapter 9 municipal bankruptcy and are shielded by the courts from any new litigation. The court protection gives the cities time and fiscal space to negotiate with employees and creditors, and to organize their financial affairs. It’s hard to imagine the difficulty of running a city in bankruptcy with dwindling cash reserves.''
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''How Fear of Cyber Attack Could Take Down Your Liberties and the Constitution''
From TomDispatch
By Karen Greenberg
''First the financial system collapses and it's impossible to access one’s money. Then the power and water systems stop functioning. Within days, society has begun to break down. In the cities, mothers and fathers roam the streets, foraging for food. The country finds itself fractured and fragmented -- hardly recognizable.''
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By Karen Greenberg
''First the financial system collapses and it's impossible to access one’s money. Then the power and water systems stop functioning. Within days, society has begun to break down. In the cities, mothers and fathers roam the streets, foraging for food. The country finds itself fractured and fragmented -- hardly recognizable.''
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''Student loans: Even military worries about rising debt''
From CSMonitor
''Some 41 percent of America's armed forces are holding student debt, according to one recent survey, and Pentagon officials say financial troubles are among the top sources of anxiety among troops -- sometimes even topping war itself.
Defense Secretary Leon Panetta told reporters that the No. 1 reason troops lose security clearances was financial troubles, which include things like overwhelming debt for mortgages, credit cards and student loans.''
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''Some 41 percent of America's armed forces are holding student debt, according to one recent survey, and Pentagon officials say financial troubles are among the top sources of anxiety among troops -- sometimes even topping war itself.
Defense Secretary Leon Panetta told reporters that the No. 1 reason troops lose security clearances was financial troubles, which include things like overwhelming debt for mortgages, credit cards and student loans.''
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''The Crisis of Globalization''
From National Interest
By Robert W Merry
''Here at The National Interest, we remain always attuned to arguments that major changes are coming to the national political order and the prevailing global order. Some months back, we produced a special magazine issue under the rubric "Crisis of the Old Order." We argued that the Old Order, a remarkably stable and bounteous time fashioned through the crucibles of the Great Depression and World War II, was crumbling. The status quo, we said, could not hold, and a new order would have to emerge to replace the old.
The only question, we suggested, was how much disruption, economic travail and bloodshed would attend the transition from the old order to the new. On the question of economic travail, Smick seems to be saying it will be substantial.''
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By Robert W Merry
''Here at The National Interest, we remain always attuned to arguments that major changes are coming to the national political order and the prevailing global order. Some months back, we produced a special magazine issue under the rubric "Crisis of the Old Order." We argued that the Old Order, a remarkably stable and bounteous time fashioned through the crucibles of the Great Depression and World War II, was crumbling. The status quo, we said, could not hold, and a new order would have to emerge to replace the old.
The only question, we suggested, was how much disruption, economic travail and bloodshed would attend the transition from the old order to the new. On the question of economic travail, Smick seems to be saying it will be substantial.''
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''FAQ for Hyperinflation Skeptics''
a must read article and blog..............From How Fiat Dies
In over 100 cases of hyperinflation I don't believe there has ever been a single "decision to have hyperinflation". Hyperinflation is when things get out of control. It is not something central banks or government voted on. No group in government or a central bank has had a show of hands like "all in favor of hyperinflation raise your hands". Not the way hyperinflation happens. Hyperinflation is a market response to government debt over 80% of GNP and deficit over 40% of spending when the central bank starts printing money and buying up government debt. Everyone thinks they just need to print a bit more money to make it through the next week or month and there is nothing else they can do since the government needs money to keep in operation. Nobody votes for hyperinflation. Nobody wants it. It just happens.''
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In over 100 cases of hyperinflation I don't believe there has ever been a single "decision to have hyperinflation". Hyperinflation is when things get out of control. It is not something central banks or government voted on. No group in government or a central bank has had a show of hands like "all in favor of hyperinflation raise your hands". Not the way hyperinflation happens. Hyperinflation is a market response to government debt over 80% of GNP and deficit over 40% of spending when the central bank starts printing money and buying up government debt. Everyone thinks they just need to print a bit more money to make it through the next week or month and there is nothing else they can do since the government needs money to keep in operation. Nobody votes for hyperinflation. Nobody wants it. It just happens.''
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''The Eskimo & The Oil Man''
From AlaskaPublic.org
''Iñupiat Eskimos cannot live without the land or the sea. We are the Arctic,” Edward Itta declared at the Arctic Imperative Summit. Former Mayor of the North Slope Borough, Itta is one of the main characters in a new book by Bob Reiss, The Eskimo and The Oil Man: The Battle at the Top of the World for America’s Future. Listen Edward Itta and Bob Reiss’ on-stage conversation on The Eskimo and the Oil Man recorded at the Arctic Imperative Summit.''
see the video
''Iñupiat Eskimos cannot live without the land or the sea. We are the Arctic,” Edward Itta declared at the Arctic Imperative Summit. Former Mayor of the North Slope Borough, Itta is one of the main characters in a new book by Bob Reiss, The Eskimo and The Oil Man: The Battle at the Top of the World for America’s Future. Listen Edward Itta and Bob Reiss’ on-stage conversation on The Eskimo and the Oil Man recorded at the Arctic Imperative Summit.''
see the video
''Germany's gold reserves''-On the Edge with Max Keiser-10-19-2012
He talks about Germany's gold reserves, which are held in New York and not in Germany.''
Keiser Report: ''Washington's Choco Moat'' (E356)
''Turkey’s Islamist PM Admits Syria is Sunni-Shiite Holy War''
From Front Page News
''Turkey’s Islamist AKP regime has been the second-biggest supporter of a Muslim Brotherhood takeover of Syria, with Qatar’s Al-Qaeda royals at Number 1 and Obama at Number 3. The official story is that what is going on in Syria is a horrible violation of everything that is good and decent about the world. But, for some reason, when Obama’s stepfather was part of the Indonesian Muslim genocide in East Timor, that was an event that did not require international intervention.''
''Now Turkish Prime Minister Erdogan, like all Islamists using Muslim revisionist history as a code, has admitted that Syria is a Sunni-Shiite civil war.''
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''Turkey’s Islamist AKP regime has been the second-biggest supporter of a Muslim Brotherhood takeover of Syria, with Qatar’s Al-Qaeda royals at Number 1 and Obama at Number 3. The official story is that what is going on in Syria is a horrible violation of everything that is good and decent about the world. But, for some reason, when Obama’s stepfather was part of the Indonesian Muslim genocide in East Timor, that was an event that did not require international intervention.''
''Now Turkish Prime Minister Erdogan, like all Islamists using Muslim revisionist history as a code, has admitted that Syria is a Sunni-Shiite civil war.''
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''The Coming Shia War''
repost from last year....................From National Interest
''Iran’s population is more than the population of the rest of the Persian Gulf combined, while the combined population of Iran and Iraq, both majority Shia countries, is about four times that of the six countries that make up the Gulf Cooperation Council. Iran and Iraq are respectively 90 and 60 percent Shia, while Bahrain is about 70 percent Shia. Iraqi Shia know what it is like to be discriminated against after decades under Saddam Hussein. In fact Iraqis already protested in Basra last week in support of their brethren in Bahrain. One thing is for sure. Iran, Iraq and their surrogates, such as Hezbollah, will not stand idly by and let this persecution against Shia gather momentum. They will intervene with ominous implications not only for Bahrain, but also for the rest of the GCC and for the future of the United States in the Persian Gulf.''
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''Iran’s population is more than the population of the rest of the Persian Gulf combined, while the combined population of Iran and Iraq, both majority Shia countries, is about four times that of the six countries that make up the Gulf Cooperation Council. Iran and Iraq are respectively 90 and 60 percent Shia, while Bahrain is about 70 percent Shia. Iraqi Shia know what it is like to be discriminated against after decades under Saddam Hussein. In fact Iraqis already protested in Basra last week in support of their brethren in Bahrain. One thing is for sure. Iran, Iraq and their surrogates, such as Hezbollah, will not stand idly by and let this persecution against Shia gather momentum. They will intervene with ominous implications not only for Bahrain, but also for the rest of the GCC and for the future of the United States in the Persian Gulf.''
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''A warning to muslims: Sunni Vs Shia - The War Your Enemies Want''
From SOTT
''The commentator makes a very important point in the following video: agitators in the western military-security complex (particularly the US, EU and Israeli governments) have been proactively importing the conditions for civil war into countries like Iraq, Libya, Syria and Lebanon in order to destabilize their governments and obliterate civil society, thereby fostering the 'Clash of Civilizations' they desperately need for conducting the 'Global War on Terror' and suppressing dissent of all peoples against their global police state agenda. In the muslim world, they do this by capitalising on differences between different religious sects and beliefs, supplying them with agents provocateurs and weapons. One only needs to look at the history of MI6 and later CIA and Mossad involvement in co-opting and subverting the Muslim Brotherhood...''
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''The commentator makes a very important point in the following video: agitators in the western military-security complex (particularly the US, EU and Israeli governments) have been proactively importing the conditions for civil war into countries like Iraq, Libya, Syria and Lebanon in order to destabilize their governments and obliterate civil society, thereby fostering the 'Clash of Civilizations' they desperately need for conducting the 'Global War on Terror' and suppressing dissent of all peoples against their global police state agenda. In the muslim world, they do this by capitalising on differences between different religious sects and beliefs, supplying them with agents provocateurs and weapons. One only needs to look at the history of MI6 and later CIA and Mossad involvement in co-opting and subverting the Muslim Brotherhood...''
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''Presenting All The US Debt That's Fit To Monetize''
From ZeroHedge
''Over the past 4 years the Fed's strategy in response to the Second Great Depression has been a simple one: purchase record (and now open-ended) amounts of fixed income product (offset by releasing record amounts of reserves in the banking universe which in turn has converted every bank into a TBTF and Fed-backstopped hedge fund, as the concurrently shrinking Net Interest Margin no longer leads to the required ROA from legacy bank lending) to stabilize the bond market, and to crush yields in hopes of forcing every uninvested dollar to scramble for equities, primarily of the dividend paying kind now that dividend income is the only "fixed income" available.''
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''Over the past 4 years the Fed's strategy in response to the Second Great Depression has been a simple one: purchase record (and now open-ended) amounts of fixed income product (offset by releasing record amounts of reserves in the banking universe which in turn has converted every bank into a TBTF and Fed-backstopped hedge fund, as the concurrently shrinking Net Interest Margin no longer leads to the required ROA from legacy bank lending) to stabilize the bond market, and to crush yields in hopes of forcing every uninvested dollar to scramble for equities, primarily of the dividend paying kind now that dividend income is the only "fixed income" available.''
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Sunday, October 21, 2012
"China, the dollar, and the return of the Triffin dilemma"
From Gold Standard Now
''What is at the core of the monetary tension between the United States and China?
Director of international economics at the Council on Foreign Relations Benn Steil, co-author of Money, Markets, and Sovereignty (Yale University Press, 2009), perceptively observes:
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''What is at the core of the monetary tension between the United States and China?
Director of international economics at the Council on Foreign Relations Benn Steil, co-author of Money, Markets, and Sovereignty (Yale University Press, 2009), perceptively observes:
China’s position on imbalances is also the same as the US position at Bretton Woods: the debtor should bear the burden of adjustment. In the present context, that means tighter US monetary and fiscal policy, as would be required under a classical gold standard (that is, the United States sends a dollar to China, China redeems it for gold, US gold stocks fall, policy tightens to draw gold back, imbalances fall). But now that the United States is a massive debtor, rather than the creditor it was at Bretton Woods, it rejects the logic of debtor adjustment.''
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''Sterling's Past, Dollar's Future: Historical Perspectives on Reserve Currency Competition''
a paper from 2005...............From NBER
By Barry Eichengreen
''This paper provides an historical perspective on reserve currency competition and on the prospects of the dollar as an international currency. It questions the conventional wisdom that competition for reserve-currency status is a winner-take-all game, showing that several currencies have often shared this role in the past and arguing that innovations in financial markets make it even more likely that they will do so in the future. It suggests that the dollar and the euro are likely to share this position for the foreseeable future. Hopes that the yuan could become a major international currency 20 or even 40 years from now are highly premature.''
view PDF here
By Barry Eichengreen
''This paper provides an historical perspective on reserve currency competition and on the prospects of the dollar as an international currency. It questions the conventional wisdom that competition for reserve-currency status is a winner-take-all game, showing that several currencies have often shared this role in the past and arguing that innovations in financial markets make it even more likely that they will do so in the future. It suggests that the dollar and the euro are likely to share this position for the foreseeable future. Hopes that the yuan could become a major international currency 20 or even 40 years from now are highly premature.''
view PDF here
Students' Debt Loads Increase Again
From Inside Higher Ed
''Students in the class of 2011 who took out loans graduated with an average of $26,600 in debt, a 5 percent increase from last year, according to a report released today by the Institute for College Access and Success examining student debt at four-year public and private nonprofit colleges.''
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''Students in the class of 2011 who took out loans graduated with an average of $26,600 in debt, a 5 percent increase from last year, according to a report released today by the Institute for College Access and Success examining student debt at four-year public and private nonprofit colleges.''
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