Thursday, July 31, 2014
Transcript of Jim Rickards Interview, July 17, 2014
This is a long interview with Jim Rickards, but one of the most important and timely ones you will ever read.
http://www.anglofareast.com/transcript-of-jim-rickards-interview-july-17-2014/
http://www.anglofareast.com/transcript-of-jim-rickards-interview-july-17-2014/
Labels:
interview,
Jim Rickards,
transcript
Wednesday, July 30, 2014
OUR TOTALITARIAN FUTURE – PART ONE
http://www.theburningplatform.com/2014/07/28/our-totalitarian-future-part-one/
As the world explodes in violence, war, riots, and uprisings, it is challenging to step back and examine the bigger picture. With airliners being shot down over the Ukraine, missiles flying between Israel and Gaza, ongoing civil war in Syria, Iraq falling apart as ISIS gains ground, dictatorship crackdown in Egypt, Turkey on the verge of revolution, Iran gaining control of Iraq, Saudi Arabia fomenting violence, Africa dissolving into chaos, South America imploding and sending their children across our purposely porous southern border, Mexico under the control of drug lords, China experiencing a slow motion real estate collapse, Japan experiencing their third decade of Keynesian failure, facing a demographic nightmare scenario while being slowly poisoned by radiation, and Chinese-Japanese relations moving towards World War II levels, it is easy to get lost in the day to day minutia of history in the making.
Why is this happening at this point in history? Why is the average American economically worse off today than they were at the height of the economic crisis in 2009? Why is the Cold War returning with a vengeance? Why is the Federal Reserve still employing emergency monetary policies when we are supposedly five years into a recovery and the stock market has attained record highs? Why do the ECB and European politicians continue to paper over the insolvency of their banks and governments? Why did the U.S. support the ouster of a dictator we supported for decades in Egypt and then support the elevation of a new dictator after we didn’t like the policies of the democratically elected president? Why did the U.S. eliminate the leader of Libya and allow the country to descend into anarchy and civil war? Why did the U.S. fund and provoke a revolutionary overthrow of a democratically elected leader in the Ukraine? Why did the U.S. fund and arm Al Qaeda associated rebels in Syria who are now fighting our supposed allies in Iraq? Why has the U.S. been occupying Afghanistan for the last thirteen years with the result being a Taliban that is stronger than ever? Why are the BRIC countries forming a monetary union to challenge USD domination? Why is the U.S. attempting to provoke Russia into a conflict with NATO?
Why is the U.S. government collecting every electronic communication made by every American? Why is the U.S. government spying on world leader allies? Why is the U.S. government providing military equipment to local police forces? Why is the U.S. military conducting training exercises within U.S. cities? Why is the U.S. government attempting to restrict Second Amendment rights? Why is the U.S. government attempting to control and lockdown the internet? Why has the U.S. government chosen to treat the Fourth Amendment as if it is obsolete? Why is the national debt still rising by $750 billion per year ($2 billion per day) if the economy is back to normal? Why have 12 million working age Americans left the workforce since the economic recovery began? How could the unemployment rate be back at 2008 levels when there are 14 million more working age Americans and the same number employed as in 2008? Why are there 13 million more people on food stamps today than there were at the start of the economic recovery in 2009? Why have home prices risen by 25% since 2012 when mortgage applications have been at fourteen year lows? Why are Wall Street profits and bonuses at record highs while the real median household income stagnates at 1998 levels?
Why do 98% of incumbent politicians get re-elected when congressional approval levels are lower than whale shit? Why are oil prices four times higher than they were in 2003 if the U.S. is supposedly on the verge of energy independence? Why do the corporate controlled mainstream media choose to entertain and regurgitate government propaganda rather than inform, investigate and seek the truth? Why do corporations and shadowy billionaires control the politicians, media, judges, and financial system in their ravenous quest for more riches? Why has the public allowed a privately owned bank to control our currency and inflate away 96% of its value in 100 years? Why have American parents allowed their children to be programmed and dumbed down by government run public schools? Why have Americans allowed themselves to be lured into debt in an effort to appear wealthy and successful? Why have Americans permitted their brains to atrophy through massive doses of social media, reality TV, iGadget addiction, and a cultural environment of techno-narcissism? Why have Americans lost their desire to read, think critically, question authority, act responsibly, defer gratification, and care about future generations? Why have Americans sacrificed their freedoms, liberties and rights for the false expectation of safety and security? Why will we pay dearly for our delusional, materialistic, debt financed idiocy? – Because we never learn the lessons of history.
There are so many questions and no truthful answers forthcoming from those who pass for leaders in this increasingly totalitarian world. Our willful ignorance, apathy, hubris and arrogance will have consequences. Just because it hasn’t happened yet, doesn’t mean it’s not going to happen. The cyclicality of history guarantees a further deepening of this Crisis. The world has evolved from totalitarian hegemony to republican liberty and regressed back to totalitarianism throughout the centuries. Anyone honestly assessing the current state of the world and our country would unequivocally conclude we have regressed back towards a totalitarian regime where a small cabal of powerful oligarchs believes they can control and manipulate the masses in their gluttonous desire for treasure. Aldous Huxley foretold all the indicators of a world descending into totalitarianism due to overpopulation, propaganda, brainwashing, consumerism, and dumbing down of a distracted populace in his 1958 reassessment of his 1931 novel Brave New World.
Labels:
future,
TOTALITARIAN
Tuesday, July 29, 2014
Monday, July 28, 2014
Most Transparent Insider Trading Congress Ever Tells SEC To Shove it
Insider trading is illegal, and when enforced, perps serve jail time. Apparently, Congress believes they are above the law and insider trading for congressman should be legal.
http://www.zerohedge.com/news/2014-07-28/most-transparent-insider-trading-congress-ever-tells-sec-shove-it
http://www.zerohedge.com/news/2014-07-28/most-transparent-insider-trading-congress-ever-tells-sec-shove-it
Labels:
Congress,
Ever,
insider trading,
Most Transparent,
SEC,
Shove it
Holder Takes Aim At “Homegrown Violent Extremists” Who Have “Domestic Concerns”
http://oathkeepers.org/oath/2014/07/15/holder-takes-aim-at-homegrown-violent-extremists-who-have-domestic-concerns/
"The U.S., by any definition, has become a militarized police state. Americans have few protections left from the government’s protection racket which has become inverted.
The government claims to protect us from people who may spy on us, by spying on us. They claim to protect us from violent thugs with cops that conduct no-knock SWAT raids on peaceful people. They claim to protect us from thieves and financial collapse by stealing from us to give to the thieves. And now they want to declare war on the American people to protect us from those who may declare war on us." - Oath Keepers
US fuming over Israeli criticism of Kerry
Bring back Hillary? In an attempt to get along with every country, the US has managed to alienate every country--including their staunchest allies.
http://bigstory.ap.org/article/us-fuming-over-israeli-criticism-kerry
http://bigstory.ap.org/article/us-fuming-over-israeli-criticism-kerry
Saturday, July 26, 2014
Company In Which Joe Biden's Son Is Director Prepares To Drill Shale Gas In East Ukraine
Joe Biden = Dick Cheney. Follow the money--and the oil and natural gas.
http://www.zerohedge.com/news/2014-07-25/company-which-joe-bidens-son-director-prepares-drill-shale-gas-east-ukraine
http://www.zerohedge.com/news/2014-07-25/company-which-joe-bidens-son-director-prepares-drill-shale-gas-east-ukraine
Lawsuit Stunner: Half of Futures Trades in Chicago Are Illegal Wash Trades
Criminal enterprises posing as legitimate entities isn't surprising given Chicago's history in the futures pits and in politics.
http://wallstreetonparade.com/2014/07/lawsuit-stunner-half-of-futures-trades-in-chicago-are-illegal-wash-trades/
http://wallstreetonparade.com/2014/07/lawsuit-stunner-half-of-futures-trades-in-chicago-are-illegal-wash-trades/
Labels:
Chicago,
Futures Trades,
Half,
Illegal,
lawsuit,
Stunner,
Wash Trades
SEC Adopts Money Market Fund Reform Rules
This market "reform" means your money market funds, like your bank deposits, are at risk of being raided in the event of a run on financial institutions.
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370542347679#.U9QfOmPCf4X
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370542347679#.U9QfOmPCf4X
Labels:
Adopts,
money market fund,
Reform Rules,
SEC
Friday, July 25, 2014
Washington Is Escalating the Orchestrated Ukrainian “Crisis” to War — Paul Craig Roberts
Wow, this is a different narrative on the situation in Ukraine.
http://www.paulcraigroberts.org/2014/07/24/washington-escalating-orchestrated-ukrainian-crisis-war-paul-craig-roberts/
http://www.paulcraigroberts.org/2014/07/24/washington-escalating-orchestrated-ukrainian-crisis-war-paul-craig-roberts/
Labels:
crisis,
Escalating,
orchestrated,
Paul Craig Roberts,
Ukrainian,
war,
Washington
Thursday, July 24, 2014
China signs currency swap worth 150 billion yuan with Switzerland
Another nail in the coffin of dollar hegemony.
http://www.reuters.com/article/2014/07/21/us-china-switzerland-currency-idUSKBN0FQ0H520140721
http://www.reuters.com/article/2014/07/21/us-china-switzerland-currency-idUSKBN0FQ0H520140721
Labels:
China,
currency swap,
Switzerland,
yuan
The Baltic Dry Index Collapses To 18-Month Lows; Worst July Since 1986
There has been economic recovery. Just fictitious data and propaganda.
http://www.zerohedge.com/news/2014-07-22/baltic-dry-index-collapses-18-month-lows-worst-july-1986
http://www.zerohedge.com/news/2014-07-22/baltic-dry-index-collapses-18-month-lows-worst-july-1986
Labels:
Baltic Dry Index,
Collapses
The Boomerang Effect: Sanctions on Russia Hit German Economy Hard
European businesses are suffering due to US-imposed economic sanctions against Russia, making them unenforceable and unsustainable, and why US economic influence will ultimately plummet.
http://www.spiegel.de/international/business/german-economy-hit-by-us-eu-sanctions-on-russia-a-982075.html
http://www.spiegel.de/international/business/german-economy-hit-by-us-eu-sanctions-on-russia-a-982075.html
Labels:
Boomerang Effect,
German Economy,
Hard,
Hit,
Russia,
sanctions
U.S. ally cuts off communications with Obama and seeks new trade outside dollar
Another US ally is abandoning the dollar.
http://www.examiner.com/article/u-s-ally-cuts-off-communications-with-obama-and-seeks-new-trade-outside-dollar
http://www.examiner.com/article/u-s-ally-cuts-off-communications-with-obama-and-seeks-new-trade-outside-dollar
Labels:
Ally,
communications,
Cuts Off,
new trade,
Obama,
outside dollar,
seeks,
U.S.
Wednesday, July 23, 2014
A Revolving Door Farce: CFTC Commissioner Bails To Head Regulator's Biggest Opponent
This may seem like a stretch to the uninformed, but this type of regulatory capture of the CFTC by the ISDA will ultimately cause a market meltdown.
http://www.zerohedge.com/news/2014-07-23/revolving-door-farce-cftc-commissioner-bails-head-regulators-biggest-opponent
http://www.zerohedge.com/news/2014-07-23/revolving-door-farce-cftc-commissioner-bails-head-regulators-biggest-opponent
Labels:
Bails,
Biggest Opponent,
CFTC Commissioner,
Farce,
Head Regulator,
ISDA,
revolving door
Goldman Goes Schizo On Gold: Boosts Price Target To $1200 Even As It Is "Selling It With Conviction"
Even the contrarian approach to "do as they do, not as they say" investment thesis is getting confusing. Goldman Sachs is sending out "mixed signals" in their continuing denigration of gold. Are they buying or are they selling? Or do they just like talking out of both sides of their mouth.
http://www.zerohedge.com/news/2014-07-23/goldman-goes-schizo-gold-boosts-price-target-1200-even-it-selling-it-conviction
http://www.zerohedge.com/news/2014-07-23/goldman-goes-schizo-gold-boosts-price-target-1200-even-it-selling-it-conviction
Labels:
boosts,
gold,
goldman,
Price Target,
Schizo,
selling,
With Conviction
The "Gates" Are Closing: SEC Votes Through Money Market Reform
This the stock brokerage firm's version of a bank bail-in. Your money market funds will no longer be accessible in the event of a run on financial institutions. Anybody worried yet?
http://www.zerohedge.com/news/2014-07-23/gates-are-closing-sec-votes-through-money-market-reform
http://www.zerohedge.com/news/2014-07-23/gates-are-closing-sec-votes-through-money-market-reform
Labels:
Closing,
Gates,
Money Market Reform,
SEC
Tuesday, July 22, 2014
SNL points to drastic fall in new gold discoveries
More evidence of peak gold...
http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=247986&sn=Detail
http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=247986&sn=Detail
Labels:
drastic fall,
new gold discoveries,
points,
SNL
They’re Lying To Us, Part 4: Fake Pensions
http://dollarcollapse.com/the-economy/theyre-lying-to-us-part-4-fake-pensions/
This is emblematic of so much of today’s world. If the reality we’ve created through our past choices is uncomfortable, just redefine the terms of the debate to make formerly bad things look good. If we borrow too much, lower the value of the currency in which those debts were contracted. If the resulting inflation numbers are problematic, change the definition of inflation to hide the increase. If jobs are harder to get because of rising debt and inflation, simply conflate part-time jobs (which are rising) with full-time jobs (which are evaporating) and say “employment” is growing strongly. In this context, redefining “fully-funded” pensions downward makes complete sense, right?This is called whack-a-mole economics. If by distorting one sector yields bad results in another, well then just change the data on the other sector. Repeat.
Labels:
Fake Pensions,
Lying To Us
Monday, July 21, 2014
Sunday, July 20, 2014
CME looks to bid for London gold price solution, after claiming silver
The London fix of gold and silver prices may be nearing its end, but with the CME Group taking over exchange prices, expect gold and silver prices to continue to be manipulated by the paper shorts. That too, will end.
http://www.platts.com/latest-news/metals/london/cme-looks-to-bid-for-london-gold-price-solution-26836103
http://www.platts.com/latest-news/metals/london/cme-looks-to-bid-for-london-gold-price-solution-26836103
Labels:
Bid,
claiming silver,
CME,
gold price,
London,
solution
Saturday, July 19, 2014
US Treasury Admits Collateral Problem In Bond Market; Considers Issuing Ultra Long-Dated Bonds
Great...bond market investors are shunning long-dated US Treasury bonds due to obvious risks (currency, inflation, credit/downgrade, interest rate, reinvestment), so the Treasury in its wisdom (and desperation) are thinking about issuing 100-year bonds, God forbid. In fact, among all the bond risks, liquidity is probably the only one where there is no risk. Although, with hyperinflation, TOO MUCH liquidity would turn into the biggest problem of them all.
http://www.zerohedge.com/news/2014-07-18/us-treasury-admits-collateral-problem-bond-market-considers-issuing-ultra-long-dated
http://www.zerohedge.com/news/2014-07-18/us-treasury-admits-collateral-problem-bond-market-considers-issuing-ultra-long-dated
IMF's Christine Lagarde Joins The Chorus, Warns Market Is "Too Upbeat"
So wait a minute...a few bloggers warn of the dangers of echo, stimulus-induced asset bubbles resurfacing due to QE to infinity--only to be mocked by mainstream economists. And now the BIS, the FED, and the IMF regurgitate the warnings, and NOW we're supposed to believe them?
At this point, it's clear that the powers-that-be have created a Frankensteinian monster with which they have no idea where this uncharted money-printing process will end up. I do...it will end in tears. Fiat currency experiments never end well--never have, and never will. The only question is when.
http://www.zerohedge.com/news/2014-07-19/imfs-christine-lagarde-joins-chorus-warns-market-too-upbeat
At this point, it's clear that the powers-that-be have created a Frankensteinian monster with which they have no idea where this uncharted money-printing process will end up. I do...it will end in tears. Fiat currency experiments never end well--never have, and never will. The only question is when.
http://www.zerohedge.com/news/2014-07-19/imfs-christine-lagarde-joins-chorus-warns-market-too-upbeat
Labels:
Chorus,
Christine Lagarde,
IMF,
Joins,
Too Upbeat,
Warns Market
A new US puppet government for Ukraine
Come to your own conclusions on who is intervening in Ukrainian politics.
https://wikispooks.com/wiki/Document:A_new_US_puppet_government_for_Ukraine
https://wikispooks.com/wiki/Document:A_new_US_puppet_government_for_Ukraine
Labels:
puppet government,
Ukraine,
US
Friday, July 18, 2014
Friday Humor, "Blame It On ..." Edition
The captured media is so obvious in its role as government's mouthpiece that its hard to take anything they spout out as serious.
http://www.zerohedge.com/news/2014-07-18/friday-humor-blame-it-edition
http://www.zerohedge.com/news/2014-07-18/friday-humor-blame-it-edition
Labels:
Blame It On,
Edition,
Friday humor,
rain
Ukraine's Security Service Has Confiscated Air Traffic Control Recordings With Malaysian Jet
Could Ukraine air traffic controllers have steered Malaysian Flight MH-17 over restricted air space--either inadvertently over advertently--and prompting the plane to be tragically be missiled down?
And if so, is this the triggering event to bring NATO and the US to further engage against Russia in Ukraine? Is this another 9/11? So many conspiracy theories.
http://www.zerohedge.com/news/2014-07-18/ukraines-security-service-has-confiscated-air-traffic-control-recordings-malaysian-j
And if so, is this the triggering event to bring NATO and the US to further engage against Russia in Ukraine? Is this another 9/11? So many conspiracy theories.
http://www.zerohedge.com/news/2014-07-18/ukraines-security-service-has-confiscated-air-traffic-control-recordings-malaysian-j
Gold, Euro, Dollar & Where The Chinese Are Buying Real Estate
The first chart indicates the USDollar gaining strength, and that is bearish for gold. The other charts are bullish for gold. To those with gold holdings already, the do-nothing approach for now may be appropriate, hoping for lower prices. But for those with no gold exposure, buying some with the intent to layer in future purchases may be prudent, in case prices continue to rise.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/7/18_Gold,_Euro,_Dollar_%26_Where_The_Chinese_Are_Buying_Real_Estate.html
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/7/18_Gold,_Euro,_Dollar_%26_Where_The_Chinese_Are_Buying_Real_Estate.html
Thursday, July 17, 2014
Did the Other Shoe Just Drop? Big Banks Hit with Monster $250 Billion Lawsuit in Housing Crisis
The guppies have long left the chum-filled waters of toxic derivatives. The predatory sharks are now eating each other. This will surely result in "market dislocations."
http://ellenbrown.com/2014/07/16/did-the-other-shoe-just-drop-black-rock-and-pimco-sue-banks-for-250-billion/
http://ellenbrown.com/2014/07/16/did-the-other-shoe-just-drop-black-rock-and-pimco-sue-banks-for-250-billion/
The world’s largest banks are considered “too big to fail” for a reason. The fractional reserve banking scheme is a form of shell game, which depends on “liquidity” borrowed at very low interest from other banks or the money market. When Lehman Brothers went bankrupt in 2008, triggering a run on the money market, the whole interconnected shadow banking system nearly went down with it.
Congress then came to the rescue with a taxpayer bailout, and the Federal Reserve followed with its quantitative easing fire hose. But in 2010, the Dodd Frank Act said there would be no more government bailouts. Instead, the banks were to save themselves with “bail ins,” meaning they were to recapitalize themselves by confiscating a portion of the funds of their creditors – including not only their shareholders and bondholders but the largest class of creditor of any bank, their depositors.
Theoretically, deposits under $250,000 are protected by FDIC deposit insurance. But the FDIC fund contains only about $47 billion – a mere 20% of the Black Rock/PIMCO damage claims. Before 2010, the FDIC could borrow from the Treasury if it ran short of money. But since the Dodd Frank Act eliminates government bailouts, the availability of Treasury funds for that purpose is now in doubt.
When depositors open their online accounts and see that their balances have shrunk or disappeared, a run on the banks is likely. And since banks rely on each other for liquidity, the banking system as we know it could collapse. The result could be drastic deleveraging, erasing trillions of dollars in national wealth.
Massive credit collapses that erase very large sums of notional wealth and impact the global economy are hardly a new phenomenon . . . but one thing that has never happened as a result of any of them is the sort of self-feeding, irrevocable plunge into the abyss that current fast-crash theories require.The reason for this is that credit is merely one way by which a society manages the distribution of goods and services. . . . A credit collapse . . . doesn’t make the energy, raw materials, and labor vanish into some fiscal equivalent of a black hole; they’re all still there, in whatever quantities they were before the credit collapse, and all that’s needed is some new way to allocate them to the production of goods and services.This, in turn, governments promptly provide. In 1933, for example, faced with the most severe credit collapse in American history, Franklin Roosevelt temporarily nationalized the entire US banking system, seized nearly all the privately held gold in the country, unilaterally changed the national debt from “payable in gold” to “payable in Federal Reserve notes” (which amounted to a technical default), and launched a series of other emergency measures. The credit collapse came to a screeching halt, famously, in less than a hundred days. Other nations facing the same crisis took equally drastic measures, with similar results. . . .
Faced with a severe crisis, governments can slap on wage and price controls, freeze currency exchanges, impose rationing, raise trade barriers, default on their debts, nationalize whole industries, issue new currencies, allocate goods and services by fiat, and impose martial law to make sure the new economic rules are followed to the letter, if necessary, at gunpoint. Again, these aren’t theoretical possibilities; every one of them has actually been used by more than one government faced by a major economic crisis in the last century and a half.That historical review is grounds for optimism, but confiscation of assets and enforcement at gunpoint are still not the most desirable outcomes. Better would be to have an alternative system in place and ready to implement before the boom drops.
Labels:
$250 Billion Lawsuit,
big banks,
Hit,
Housing Crisis,
Just Drop,
Monster,
Other Shoe
Wednesday, July 16, 2014
White House Readies Unilateral Sanctions On Russia As US Utilities Scramble For Russian Coal
More evidence US government officials don't have a clue.
http://www.zerohedge.com/news/2014-07-16/white-house-readies-unilateral-sanctions-russia-us-utilities-scramble-russian-coal
http://www.zerohedge.com/news/2014-07-16/white-house-readies-unilateral-sanctions-russia-us-utilities-scramble-russian-coal
Labels:
Readies,
Russia,
Russian Coal,
Scramble,
Unilateral Sanctions,
US Utilities,
White House
Now Germany Will Never Get Its Gold Back From The U.S. Fed
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/7/16_Now_Germany_Will_Never_Get_Its_Gold_Back_From_The_U.S._Fed.html
"The Fed promised to send Germany a mere 300 tons of its 1,436 tons of gold the Fed is supposed to have stored. Well, only 5 tons have made their way back to Germany because the Fed knows what Germany is up to with the Chinese and the Russians, and so there is no way in hell the Fed is going to give Germany back its gold at this point. Germany, you may have won the World Cup but you will have to go into the open market if you want your gold back.”
Labels:
Fed,
From,
Germany,
Get Its Gold Back,
never
Tuesday, July 15, 2014
Cyprus: Despite 16 months of capital controls, banks still pitifully capitalized
Bank solvency and geographic diversification are the key buzzwords here.
http://www.sovereignman.com/finance/cyprus-despite-16-months-of-capital-controls-banks-still-pitifully-capitalized-14686/
http://www.sovereignman.com/finance/cyprus-despite-16-months-of-capital-controls-banks-still-pitifully-capitalized-14686/
Labels:
banks,
capital controls,
Cyprus,
still pitifully capitalized
Anti-Dollar Alliance Prepares Launch Of BRICS Bank
As predicted, emerging economies are preparing for the end of USDollar hegemony. Why is this important and catastrophic to US consumers? Will you enjoy $20/gallon gas?
http://www.zerohedge.com/news/2014-07-14/anti-dollar-alliance-prepares-launch-brics-bank
http://www.zerohedge.com/news/2014-07-14/anti-dollar-alliance-prepares-launch-brics-bank
Labels:
Alliance,
Anti-Dollar,
BRICS Bank,
launch,
Prepares
Monday, July 14, 2014
Sunday, July 13, 2014
US Offers Immunity To Junior FX Manipulators In Exchange For Ratting Out Their Seniors
The US has angered Germany with delays of German gold repatriation, and alleged spying of Germany's leaders, including Prime Minister Angela Merkel. The US has also angered France by targeting PNB Paribas for banker misdeeds. And they continue to prosecute London banks, deservedly so.
Meanwhile, sovereign trading partners are ignoring US and NATO-led trade sanctions against Russia and China. Apparently, Europe values their energy sources more than any outdated traditional alliances with US exceptionalism
In this current cycle of punishing miscreant bankers, US regulators curiously are not indicting US bankers for manipulation of markets. This will only add to the antagonism US allies have toward America. The emperor not only has no clothes, but it is running out of friends.
http://www.zerohedge.com/news/2014-07-13/us-offers-immunity-junior-fx-manipulators-exchange-ratting-out-their-seniors
Meanwhile, sovereign trading partners are ignoring US and NATO-led trade sanctions against Russia and China. Apparently, Europe values their energy sources more than any outdated traditional alliances with US exceptionalism
In this current cycle of punishing miscreant bankers, US regulators curiously are not indicting US bankers for manipulation of markets. This will only add to the antagonism US allies have toward America. The emperor not only has no clothes, but it is running out of friends.
http://www.zerohedge.com/news/2014-07-13/us-offers-immunity-junior-fx-manipulators-exchange-ratting-out-their-seniors
Labels:
exchange,
Junior FX Manipulators,
Offers Immunity,
Ratting Out,
seniors,
US
The US 2014-2015: the dominoes of pensions, Munis and the Dollar
… The dilemma between sacrificing schools and retirees and
allowing cities to go bankrupt is quickly resolved, because the first
domino which can cause the rest to fall is municipal bankruptcy. What
must be avoided at all cost is this huge danger of a “real” major «
chapter 9 » municipal bankruptcy, with debt restructuring and bond
repayment default. The impact would be devastating on the huge Muni
(municipal bond) market, amounting to $3.7 trillion, because the seizing
up of this market would prevent many cities from accessing finance.
Interest rates on these bonds would rise instantly, resulting in a
vicious circle: rising funding costs for cities already suffering from
budget problems, serial bankruptcies, inability to pay pensions and
provide public services; moreover, the price of already issued bonds
would fall, which here again would be a disaster for “prudent” investors
(such as pension funds) which could also go bankrupt. The wheel has
turned full circle: if one chooses not to sacrifice retirees, then
cities go bankrupt, taking pension funds with them, and still
sacrificing retirees…
Excerpt GEAB N°86 (June 15, 2014)
Excerpt GEAB N°86 (June 15, 2014)
Merkel Slams Obama's "Cold War" Espionage "Doesn't Belong In 21st Century"
The hubris and perceived nonchalance of US spying on Germany's prime minister is stunning. And US officials wonder why the US is losing influence amongst its allies. Germany is increasing trade with Russia and China, two of Uncle Sam's most powerful adversaries. They are also shunning US foreign policy-makers, who should wake up and smell the coffee.
http://www.zerohedge.com/news/2014-07-12/merkel-slams-obamas-cold-war-espionage-doesnt-belong-21st-century
http://www.zerohedge.com/news/2014-07-12/merkel-slams-obamas-cold-war-espionage-doesnt-belong-21st-century
Saturday, July 12, 2014
Russia, China Hold Military Drills to Strengthen Bilateral Cooperation
Nothing here to see. Run along.
It appears any enemies of the USDollar are enemies of the US.
http://en.ria.ru/military_news/20140709/190857987/Russia-China-Hold-Military-Drills-to-Strengthen-Bilateral.html
It appears any enemies of the USDollar are enemies of the US.
http://en.ria.ru/military_news/20140709/190857987/Russia-China-Hold-Military-Drills-to-Strengthen-Bilateral.html
Labels:
Bilateral Cooperation,
China,
Military Drills,
Russia,
Strengthen
Blythe Masters’ Ex-Husband Launches Bitcoin Hedge Fund from the Island of Jersey
Perhaps this is why they are no longer married. He's into Bitcoin--she's into suppressing silver prices.
http://libertyblitzkrieg.com/2014/07/11/blythe-masters-ex-husband-launches-bitcoin-hedge-fund-from-the-island-of-jersey/
http://libertyblitzkrieg.com/2014/07/11/blythe-masters-ex-husband-launches-bitcoin-hedge-fund-from-the-island-of-jersey/
Labels:
bitcoin,
Blythe Masters,
Ex-Husband,
hedge fund,
Island of Jersey,
launches
Friday, July 11, 2014
CME, Reuters Picked To Replace Silver Fixing In Process Supervised By Former Gold Fixer
The fox is guarding the hen house in this ridiculous kabuki theater of the absurd. This is another sign that the gold and silver manipulators are frantically using whatever means they can to continue the ponzi scheme of paper trading, in light of the fact that physical inventory is depleted.
http://www.zerohedge.com/news/2014-07-11/cme-reuters-picked-replace-silver-fixing-process-supervised-former-gold-fixer
http://www.zerohedge.com/news/2014-07-11/cme-reuters-picked-replace-silver-fixing-process-supervised-former-gold-fixer
Labels:
CME,
Former Gold Fixer,
Process Supervised,
Replace,
Reuters,
Silver Fixing
Thursday, July 10, 2014
Bob Metcalfe Keynote at #semiconwest
Bob Metcalfe, the anointed inventor of the internet, was insightful and funny--in an irreverent but candid manner.
https://www.semiwiki.com/forum/content/3652-bob-metcalfe-keynote-semiconwest.html
https://www.semiwiki.com/forum/content/3652-bob-metcalfe-keynote-semiconwest.html
Labels:
#semiconwest,
Bob Metcalfe,
Keynote
CYNK Share Price Soars
Irrational exuberance? $15? Really?
http://finance.yahoo.com/echarts?s=CYNK+Interactive#symbol=CYNK;range=1m
http://finance.yahoo.com/echarts?s=CYNK+Interactive#symbol=CYNK;range=1m
Labels:
CYNK,
Share Price,
Soars
Washington’s Arrogance Will Destroy Its Empire — Paul Craig Roberts
Wow, this is a scathing review of America by a former US Treasury Assistant Secretary.
http://www.paulcraigroberts.org/2014/07/09/washingtons-arrogance-will-destroy-empire-paul-craig-roberts/
http://www.paulcraigroberts.org/2014/07/09/washingtons-arrogance-will-destroy-empire-paul-craig-roberts/
Labels:
Arrogance,
destroy,
Empire,
Paul Craig Roberts,
Washington
Wednesday, July 9, 2014
Wall Street Teams Up with U.S. Intelligence Cronies in Bid to Form Fascist “Cyber War Council”
Great--Wall Street and the NSA are joining forces.
http://libertyblitzkrieg.com/2014/07/08/wall-street-teams-up-with-u-s-intelligence-cronies-in-bid-to-form-fascist-cyber-war-council/
http://libertyblitzkrieg.com/2014/07/08/wall-street-teams-up-with-u-s-intelligence-cronies-in-bid-to-form-fascist-cyber-war-council/
Labels:
Cronies,
Cyber War Council,
Fascist,
Teams Up,
U.S. Intelligence,
Wall Street
Tuesday, July 8, 2014
Merkel says U.S spying allegations are serious
The US has pissed off another major European ally (France being the other) who is openly pursuing trade with China and Russia.
http://www.reuters.com/article/2014/07/07/us-germany-usa-spying-idUSKBN0FC06P20140707
http://www.reuters.com/article/2014/07/07/us-germany-usa-spying-idUSKBN0FC06P20140707
Labels:
Merkel,
serious,
spying allegations,
U.S
Is The Fed Going To Attempt A Controlled Collapse?
This is a lot of conjecture and speculation, but it's a reasonable speculation.
http://www.zerohedge.com/news/2014-07-08/fed-going-attempt-controlled-collapse
http://www.zerohedge.com/news/2014-07-08/fed-going-attempt-controlled-collapse
Labels:
Attempt,
Controlled Collapse,
Fed
Beijing, Seoul agree to direct trade in national currencies
Here are a few points to take away from this article, without even reading it first:
1) China is doing everything in its power to de-dollarize by signing multiple bilateral trade agreements with its trading partners. They are planning for the demise of the USDollar as the global reserve currency. At the risk of being redundantly obvious, this has adverse consequences for the standard of living of all Americans, because inflation is now a serious threat, undermining the purchasing power of the dollar.
2) It took a Russian media outlet to report this very bad piece of news for the USDollar. Russia and China have their sights set on removing dollar hegemony. This pressure is overt--it is no longer hidden with hollow rhetoric, but backed by signed contracts.
3) South Korea is a staunch US ally. Yet, they are agreeing to remove the dollar as the numeraire in their trade agreements with China, a notable non-ally of the US. South Korea is another country in a long line of US trading partners thumbing their nose at America.
http://voiceofrussia.com/news/2014_07_04/Beijing-Seoul-agree-to-direct-trade-in-national-currencies-4477/
1) China is doing everything in its power to de-dollarize by signing multiple bilateral trade agreements with its trading partners. They are planning for the demise of the USDollar as the global reserve currency. At the risk of being redundantly obvious, this has adverse consequences for the standard of living of all Americans, because inflation is now a serious threat, undermining the purchasing power of the dollar.
2) It took a Russian media outlet to report this very bad piece of news for the USDollar. Russia and China have their sights set on removing dollar hegemony. This pressure is overt--it is no longer hidden with hollow rhetoric, but backed by signed contracts.
3) South Korea is a staunch US ally. Yet, they are agreeing to remove the dollar as the numeraire in their trade agreements with China, a notable non-ally of the US. South Korea is another country in a long line of US trading partners thumbing their nose at America.
http://voiceofrussia.com/news/2014_07_04/Beijing-Seoul-agree-to-direct-trade-in-national-currencies-4477/
Labels:
agree,
Beijing,
direct trade,
national currencies,
Seoul
Monday, July 7, 2014
Sunday, July 6, 2014
France Assures Push Against Petrodollar Is Not A "Fight Against Dollar Imperialism"
Umm, it sure sounds like a fight against the USDollar.
http://www.zerohedge.com/news/2014-07-06/france-assures-push-against-petrodollar-not-fight-against-dollar-imperialism
http://www.zerohedge.com/news/2014-07-06/france-assures-push-against-petrodollar-not-fight-against-dollar-imperialism
Labels:
Assures,
Fight Against Dollar,
France,
Imperialism,
not,
Push Against Petrodollar
Saturday, July 5, 2014
Friday, July 4, 2014
The Complete Annotation Of SocGen's Latest Hit Piece On Gold
This is fascinating piece of evidence of negative propaganda.
http://www.zerohedge.com/news/2014-07-04/complete-annotation-socgens-latest-hit-piece-gold
http://www.zerohedge.com/news/2014-07-04/complete-annotation-socgens-latest-hit-piece-gold
Financial Leverage Now $100 Trillion & 9 Stunning Gold Charts
Hathaway knocks it out of the park with his analysis, as usual.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/7/4_Financial_Leverage_Now_$100_Trillion_%26_9_Stunning_Gold_Charts.html
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/7/4_Financial_Leverage_Now_$100_Trillion_%26_9_Stunning_Gold_Charts.html
Labels:
Financial Leverage,
gold charts,
stunning
Thursday, July 3, 2014
Goldman Gets Ecuador Gold as Correa Steps Up Cash Hunt
Ecuador is another sucker selling its national gold reserves to Goldman Sachs.
http://www.bloomberg.com/news/2014-06-03/goldman-sachs-gets-ecuador-gold-as-correa-steps-up-hunt-for-cash.html
http://www.bloomberg.com/news/2014-06-03/goldman-sachs-gets-ecuador-gold-as-correa-steps-up-hunt-for-cash.html
Labels:
Correa,
Ecuador,
gold,
Goldman Sachs
India’s Central Bank Will Sell Gold on the Market in Exchange for Gold at the Bank of England
Here is my take: as London runs out of physical gold, they have convinced the Indian central bank to store their physical inventory in London, in exchange for paper gold. All in the name of monetary "flexibility" for India.
Sounds like a rotten deal for India: give London real money in return for fake money.
http://libertyblitzkrieg.com/2014/07/02/indias-central-bank-will-sell-gold-on-the-market-in-exchange-for-gold-at-the-bank-of-england/
Sounds like a rotten deal for India: give London real money in return for fake money.
http://libertyblitzkrieg.com/2014/07/02/indias-central-bank-will-sell-gold-on-the-market-in-exchange-for-gold-at-the-bank-of-england/
Labels:
Bank of England,
central bank,
India,
sell gold
Swiss Gold Referendum
Even the Swiss National Bank has resorted to legalized counterfeiting. But the Swiss public want to increase their country's gold reserves. In case there's any doubt, the Swiss citizenry is fairly prudent when it comes to monetary issues.
http://snbchf.com/2014/05/swiss-gold-referendum-latest-news/
http://snbchf.com/2014/05/swiss-gold-referendum-latest-news/
Labels:
Gold Referendum,
Swiss
The Cost Of Your July 4th Burger Has Never Been Higher
Inflation? What inflation? Oh, that's right, the BLS says food and energy shouldn't be a part of any consumer price calculations. Because they are too "volatile." I guess we shouldn't eat or drive over the July 4th weekend, in order to avoid a higher cost of living.
http://www.zerohedge.com/news/2014-07-03/cost-your-july-4th-burger-has-never-been-higher
http://www.zerohedge.com/news/2014-07-03/cost-your-july-4th-burger-has-never-been-higher
Labels:
cost,
higher,
July 4th Burger
Christine Lagarde – The Most Dangerous Woman in the World – IMF Advocates Taking Pensions & Extending Maturities of Gov’t Debt to Prevent Redemption
Bail-ins are coming, as sure as bail-outs occurred. Retirement accounts and pensions are at-risk during the next banking crisis.
http://armstrongeconomics.com/2014/06/28/christine-lagarde-the-most-dangerous-woman-in-the-world-imf-advocates-taking-pensions-extending-maturities-of-govt-debt-to-prevent-redemption/
http://armstrongeconomics.com/2014/06/28/christine-lagarde-the-most-dangerous-woman-in-the-world-imf-advocates-taking-pensions-extending-maturities-of-govt-debt-to-prevent-redemption/
China to Set Yuan Clearing Banks in Luxembourg, Paris
The rise of the Chinese yuan as an international currency doesn't spell the doom of the USDollar, but it will eventually end the dollar's reserve currency status. Hello, inflationary pressures generally, and imports specifically.
http://www.nasdaq.com/article/china-to-set-yuan-clearing-banks-in-luxembourg-paris-20140629-00048?
http://www.nasdaq.com/article/china-to-set-yuan-clearing-banks-in-luxembourg-paris-20140629-00048?
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/6/27_Paul_Craig_Roberts_-_The_Entire_U.S._Gold_Hoard_Is_Now_Gone.html#sthash.GGRuT5Q9.dpuf
Labels:
China,
Clearing Banks,
Luxembourg,
Paris,
yuan
Wyden Targets Tax Changes for $9 Billion Highway Infusion
Yes, by now, most of us understand the government is broke, including the Department of Transportation's US Highway Trust Fund.
So who are the lawmakers targeting to make up the deficits?
Retirement accounts. I told you so.
http://www.bloomberg.com/news/2014-06-24/wyden-targets-tax-changes-for-9-billion-highway-infusion.html
So who are the lawmakers targeting to make up the deficits?
Retirement accounts. I told you so.
http://www.bloomberg.com/news/2014-06-24/wyden-targets-tax-changes-for-9-billion-highway-infusion.html
The legislation by Senate Finance Committee Chairman Ron Wyden, an Oregon Democrat, will pay for the proposal by raising a heavy-vehicle use tax and making other tax and compliance changes related to retirement accounts and mortgage interest. He plans to bring the bill before his committee on June 26.
Paul Craig Roberts - The Entire U.S. Gold Hoard Is Now Gone
Let me reiterate: Dr Roberts is the former Assistant Secretary of the Treasury. He's no alarmist.
I've posited many times that whatever gold is left in the Fed's vaults has either been leased or outright sold multiple times to multiple parties, the definition of rehypothecation. It's analogous to mortgaging your home 100 times, a fraudulent re-use of collateral. You may have heard the phrase "fractional reserve system" in banking circles, which is problematic in itself. But at least in banking, they leverage up with paper.
With the proliferation of fractional reserves in the gold market, for every one ounce of physical gold, 100 ounces are traded in paper markets. Paper markets include the futures exchanges, ETF's, certificates, unallocated storage, forward contracts, etc. Which means millions of owners think they own gold, but actually do not. Even physical gold stored in bank vaults isn't safe from counterparty risk (or bank holidays).
If you must store it outside your home, consider custodial vaults domestically and offshore. They aren't subject to banking laws (and potential confiscation).
Gold is not a piece of paper or a certificate. Gold is gold.
Know what you own.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/6/27_Paul_Craig_Roberts_-_The_Entire_U.S._Gold_Hoard_Is_Now_Gone.html
Tuesday, July 1, 2014
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