Thus, the fight over gold and silver as media of exchange is about more than mere money, let alone making money. For it is a fight with only two possible outcomes: either control of their own lives by the people themselves, or control of the people and their lives by political and economic elitists. - Dr. Edwin Vieira





GoldWatch: Why Many Respected Analysts See Gold Going Up to $10,000





Price Increases Fuel Fears of Food Crisis- Financial Times





Senate Dems Dismantling Aid Package due to Deficit- Washington Post





Fannie/Freddie to Delist Shares from NYSE- Yahoo! Finance





S&P Warns of Rising Corporate Defaults- NY Times



As I have said for 2 years...All Countries,cities, counties and states will be bailed out...They will print money till we run out of trees...
NY Stopgap Bills Approved, Avoiding State Shutdown- Bloomberg



This is a complete lie...
Inquiry: CDS Did Not Cause Greek Crisis- Financial Times




Jim Sinclair’s Commentary
The CDS OTC derivatives claim another victory.
Of course they got help from the rating agencies and the IMF statements.

Bank Run in Spain and Its Destabilizing Ramifications for the Entire EU Wednesday, June 16, 2010
Spanish banks are borrowing record amounts from the European Central Bank.
According to FT, Spanish banks borrowed €85.6bn ($105.7bn) from the ECB last month. This was double the amount lent to them before the collapse of Lehman Brothers in September 2008 and 16.5 per cent of net eurozone loans offered by the central bank.
“If the suspicion that funding markets are being closed down to Spanish banks and corporations is correct, then you can reasonably expect the share of ECB liquidity accounted for by the country to have risen further this month,” said Nick Matthews, European economist at RBS.
Bottom line: This is nothing but a sign of a run on Spanish banks. They can’t get funding in the markets and there is a steady withdrawal of funds from the banks. For all practical purposes, the ECB is supporting the Spanish banking system with life support measures. This means that the ECB will have to drain funds from elsewhere in the system to sterilize this rescue operation. Without sterilization the effort becomes very inflationary, with sterilization the effort distorts the entire EU economy. It’s all destabilizing.
The only reasonable alternative is to allow the Spanish banks to go into bankruptcy and restructure.
More…

Obama Officially Begins Push For New Bailout of the States.

"Housing Still Sluggish"---Harvard study uses the "D" word to describe the real estate market

From the ever-cheery Ambrose Evans-Pritchard: AXA fears 'fatal flaw' will destroy eurozone.

a recent audio podcast interview of Gerald Celente by Lew Rockwell.

Volcker Warns: We Are Running Out Of Time

EU Chief Warns "Democracy Could Disappear" in Greece, Spain and Portugal

Hidden Debt is UK's Real Monster

US Banks Set to Lose Swaps Fight

How to Plan for a Double-Dip Recession

BP's Downside is Worse than You Thought

Now why would the FED do this, unless we are heading for hyperinflation...

Fed Adopts Rules to Protect Credit Card Customers

Calvin in Kansas mentioned a YouTube video of a former Marine singing an oft-ignored verse of our national anthem: The Star-Spangled Banner. The later verses aren't considered politically correct. The anthem's lyrics were derived from the the poem "Defence of Fort McHenry", written by Francis Scott Key, in 1814. The full lyrics, by the way, are worthy of some study and pondering.)
















"Life is not a matter of holding good cards, but sometimes, playing a poor hand well."

- Jack London