This is how a tyrant controls the SHEEPLEZ...The fuse of revolution will be lit if this passes...

"Change you can believe in"???

Lawmakers Propose US 'Kill Switch' for Internet





Jim Sinclair’s Commentary
Greece is nothing compared to the 33 states of the USA charging at 200mph towards a stone wall of bankruptcy.


Nearly Bankrupt Illinois Forced To Pay Through The Nose To Borrow Money Joe Weisenthal Jun. 18, 2010, 9:02 AM

The market has lost confidence in Illinois, a state which has now adopted its own IOU system.
Illinois sold $300 million of Build America Bonds at a yield premium over Treasuries about 40 percent higher than two months ago after lawmakers failed to close a $13 billion budget deficit for the year starting July 1.
The fifth most-populous U.S. state sold the taxable debt maturing in 2035 priced to yield 7.1 percent yesterday, or 297 basis points over the 2040 Treasury to which it was benchmarked, according to data compiled by Bloomberg. Illinois offered Build Americas of similar maturity at spreads of 205 basis points and 210 basis points in two April issues, Bloomberg data show. A basis point is 0.01 percentage point.
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Jim Sinclair’s Commentary
And exactly how do you get out of that danger?
In truth you do not. No one is going bailout the US except QE to infinity.


Greenspan: We’re In Danger Of Being The Next Greece! Joe Weisenthal Jun. 18, 2010, 5:51 AM
Former Fed Chair Alan Greenspan has an op-ed in the WSJ arguing that the runaway Federal Deficit threatens to turn the US into the next Greece.
He doesn’t actually think that the US debt bears any credit risk, due to our ability to print at will, but that there is a substantial risk that borrowing costs will soar.
Of course, market participants are aware of our towering deficit, and yet yields continue their long march lower, so that’s kind of problematic to his world view.
Says Greenspan: "This is regrettable, because it is fostering a sense of complacency that can have dire consequences."
Yet, he argues, not all market signals are so benign:
In the wake of recent massive budget deficits, the difference between the 10-year swap rate and 10-year Treasury note yield (the swap spread) declined to an unprecedented negative 13 basis points this March from a positive 77 basis points in September 2008. This indicated that investors were requiring the U.S. Treasury to pay an interest rate higher than rates that prevailed on comparable maturity private swaps.
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IF YOU DON'T OWN MINING STOCKS...YOU MIGHT AFTER READING THIS...


The Move To $1650 And What It Means For Producers Posted: Jun 18 2010 By: Jim Sinclair Post Edited: June 18, 2010 at 2:27 pm
Filed under: General Editorial
Dear CIGAs,
It is my feeling that gold is headed on this move to $1650 with its normal drama.
Let’s think about what this means to gold producers.
With gold valued at $1650 per ounce:
- 500,000 ounces = $825,000,000 less the cost of mining. - 1,000,000 ounces = 1,650,000,000 less the cost of mining. - 2,000,000 ounces = 3,300,000,000 less the cost of mining.
Costs:
- Underground average costs are approximately $500-$600 (assuming no derivatives or derivatives covered as international and Canadian GAAP requires derivative losses be expensed to the specific property). - Open cut average costs are approximately $300 (again, assuming no derivatives or derivatives covered). - On surface average costs are approximately $22-$75 (again, assuming no derivatives or derivatives covered).
Economist tips gold price to keep rising By resourceINTEL · June 18, 2010 · 9:58 am
THE price of gold could reach $US1450 an ounce by the end of the year after surging to a record high early yesterday, an economist says.
The precious metal settled at $US1248.70 an ounce on the Comex division of the New York Mercantile Exchange, up $US18.20, and nudged $US1248 in spot trade in Sydney yesterday.
Clifford Bennett, chief economist at independent research firm Herston Economics, said gold could fetch between $US1350 and $US1450 per ounce by the end of the year.
Mr Bennett said the most bullish predictions of a $US3000 per ounce gold price could be a reality by 2015. He was a strong believer in gold’s future, not for the usual reasons “based on fear” or it being a hedge against inflation.
“I know a lot of people back gold because they are worried about Europe, but I think Europe is fine. There are not going to be any defaults,” Mr Bennett said.
“Manufacturing is strong in Europe and the US, and China is still a juggernaut.
“I’m bullish on gold because the two most populous countries in the world, China and India, also happen to be the two fastest growing countries in the world.
“They are getting wealthier at a faster rate than anyone else and are the two countries that culturally value gold more than any other society.
“The demand for gold, just on increased wealth in China and India alone, is going to be tremendous, and when you add to that strong manufacturing, strong industrial production, from all three major continents in the second half of this year . . . demand could outstrip supply.”
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Jim Sinclair’s Commentary
The real story is a 30 year consolidation in junior and intermediate gold shares which is about to break out to the upside.
Think seriously about what a 30 year consolidation formation means.


Finding Gold in the Mainstream By Frank Holmes, CEO and chief investment officer, U.S. Global Investors
The New York Times dedicated a chunk of last Sunday’s paper to gold as a mainstream investment. In other words, gold is now legit — no longer can it be dismissed as the asset of choice for fringe types with a cellar full of canned goods and a stash of bullion buried in the backyard.
And to illustrate just how far gold has moved into the American mainstream, the paper goes bipartisan by holding up investor George Soros on the left and commentator Glenn Beck on the right as examples of the newly converted.

Now there’s an old saying that the time to sell an investment is when it’s finally “discovered” by the popular media, but that may not be good advice for gold in today’s environment. This week spot gold and gold futures hit all-time highs as the latest government reports cast doubts on the economic recovery.
In its story, the Times points out many of the same gold drivers that we have been citing for a while now – the tandem risks of near-term deflation and longer-term inflation, massive U.S. budget deficits and crushing sovereign debt burdens in Western Europe that threaten the euro’s viability.
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Mark Skousen: Gold Surge Points to Higher Inflation





The latest bank casualty in the FDIC's Friday Follies: Nevada Security Bank. (It is notable that the pace of bank failures is more than double last year's.)





Greenspan Says US May Soon Reach Borrowing Limits





Fannie-Freddie to Delist Shares from NYSE





Coffee Prices Jump 20% in One Week





Deficit Terrorists Strike in the UK





Job Woes Persist as Jobless Claims Rise





Ambrose Evans-Pritchard: The Euro Mutiny Begins