Massive Raid on silver and Gold/Greece debt downgraded/QEII money goes straight to European banks.

Embry – System Wide Melt Down as US to Enter Hyperinflation

June 13, 2011, at 3:11 pm
by Eric King 

Dear CIGAs,

With continued volatility in gold and silver, today King World News interviewed John Embry, Chief Investment Strategist of the now $9 billion strong Sprott Asset Management.  When asked about the US debt situation Embry replied, “They’ve got this market in a lockdown because they don’t have any answers to anything.  So they’re just kicking the can down the road, but we’re getting close to when the can is going to hit the wall, then we’re going to have some action and I suspect that’s going to happen in the next two months.
I think that people are going to realize that the US doesn’t have any solutions to this issue about debt limits and QE2’s and QE3’s and QE6’s and that they’ve basically reached the point where they can’t put it off any longer.  I think people will realize when they up the debt limit by two and a half trillion or so to get them through the election, how totally hopeless this situation is.  It’s not one iota different than Greece.”
More…

Harvey Organ, Monday, June 13, 2011

Massive Raid on silver and Gold/Greece debt downgraded/QEII money goes straight to European banks.

Greek Parliament Preparing Evacuation Tunnel Ahead Of Wednesday Vote On IMF Bailout, General Strike And Parliamentary Blockade 

Submitted by Tyler Durden on 06/13/2011 18:50 -0400

June 15, the day of a general strike in Greece, is also the day when the critical "mid-term agreement" between the insolvent country and the Troica will be voted on by the general assembly. "The agreement includes tax increases, slashing of wages and pensions and the lay-off of approximately more 100,000 civil servants in the next few years." Already the blog Occupied London has called for a blockade of the Athens parliament: "Last night (June 11th) the popular assembly of Syntagma square announced a call to blockade the Greek parliament ahead of the voting of the so-called Mid-term agreement between the Greek government and the troika (IMF/ECB/EU). The call-out for the blockade below is one of the most important acts we have seen by the Syntagma assembly so far. June 15th is gearing up to become a historical day in Greece, a crucial chance to block off the charge-ahead of neoliberalism here. Don’t be a spectator to this – translate and disseminate the text below; organise a gathering where you are, or come join us at Syntagma. This is the struggle for and of our lives." Needless to say, should the vote pass, and should the Parliament be blockaded, which it will be, the chances of politicians to leave general assembly unscathed may be compromised. Which is why we were not surprised to learn, courtesy of Covering Delta, that the Greek parliament has hired foreign workers to clean out the underground tunnel which leads from the parliament to the port of Piraeus (soon to be privatized) in order to avoid what some fear may be the popular lynchings of MPs by the disgruntled masses.

 

 

Mainstream Media Signals Economy Getting Bad

June 13, 2011, at 3:16 pm
by Greg Hunter 

By Greg Hunter’s USAWatchdog.com

Dear CIGAs,

It seems the mainstream media (MSM) is waking up from its long sleep.  The dream world of “green shoots” and “recovery” is fading into staggering unemployment and plunging home prices.  Most of us in the real word have known for some time that there is no recovery.  People are not optimistic no matter how many times they are told things are getting better, and a recent poll by the Daily Beast and Newsweek proves it.  The story said, “. . . reality is beginning to break down Americans’ normally optimistic attitude. Three-quarters of our respondents think the country is on the wrong track. A majority say the anxiety wrought by this recession has caused relationship problems and sleep deficiency. Two-thirds even report being angry at God.” (Click here for the complete poll results and story.)
How can the MSM be so wrong for so long?  I think talking bad about the economy is perceived as bad for ad sales by top management in the MSM.  It is only when things get so obvious that they finally report some real truth or risk looking even more irrelevant than they already are.   In a Jack Cafferty segment on CNN last week, the question was asked, “Will Our Economy Trigger Violence In U.S.?” There is no way this kind of segment sees the light of day without people in the organization accepting the idea that things are officially bad.  That means the happy talk and wishful thinking that the economy is turning around is pretty much dead, at least for a while.  Check out the Cafferty segment in the video below:
More…

Gold Falls, Eurozone "Catastrophe" And "America's Lost Decade" Threaten
By: Ben Traynor, BullionVault





Daily Pfennig: Inflation Is Coming! 

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