We The Sheeplez- The Coming Economic Collapse.."A Nation Of Sheep Ruled By Wolves" Thomas Jefferson

Tuesday, June 14, 2011

Harvey Organ, Tuesday, June 14, 2011

Ron Paul to address an audit of gold at Fort Knox/massive silver withdrawals/gold and silver rebuff attack

Cash Assets Are Soaring!

The message of the market is often hidden in plain sight. Why are cash assets as a percentage of total bank credit soaring at US commercial banks? Today’s surge has surpassed the levels reached after Lehma...

GoldMoney interview: Sean Fieler of the American Principles Project

In The News Today

June 14, 2011, at 1:41 pm
by Jim Sinclair in the category In The News |

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Jim Sinclair’s Commentary

One picture is worth more than all the words I could write.

Jim Sinclair’s Commentary

The long bond flipped to bearish today.

US Is in Even Worse Shape Financially Than Greece: Gross

Published: Monday, 13 Jun 2011 | 10:33 AM ET
By: Jeff Cox
CNBC.com Staff Writer
When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday.
Much of the public focus is on the nation’s public debt, which is $14.3 trillion. But that doesn’t include money guaranteed for Medicare, Medicaid and Social Security, which comes to close to $50 trillion, according to government figures.
The government also is on the hook for other debts such as the programs related to the bailout of the financial system following the crisis of 2008 and 2009, government figures show.
Taken together, Gross puts the total at "nearly $100 trillion," that while perhaps a bit on the high side, places the country in a highly unenviable fiscal position that he said won’t find a solution overnight.
"To think that we can reduce that within the space of a year or two is not a realistic assumption," Gross said in a live interview. "That’s much more than Greece, that’s much more than almost any other developed country. We’ve got a problem and we have to get after it quickly."
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An Entirely Predictable Economic Dip

Posted by: Value Expectations

Post date: 06/14/2011 - 16:40

Contrary to the popular view among economists that currency devaluation is necessary during periods of economic hardship, debasement works against the very investment that drives company formation and job creation given the tautological reality that any returns on investment will come back in cheapened money.

Rolling Back the Progressive Era

Posted by: ilene

Post date: 06/14/2011 - 17:06

In this respect, the war being waged against Greece by the European Central Bank (ECB) may best be seen as a dress rehearsal not only for the rest of Europe, but for what financial lobbyists would like to bring about globally.

Jim’s Mailbox

June 14, 2011, at 1:09 pm
by Jim Sinclair

Jim,
Some things never change. With Wall Street running the show, can the next financial apocalypse be far away?
David D
Carney defends Obama meeting Wall Street donors at White House
White House Press Secretary Jay Carney is defending President Barack Obama’s decision to meet in the White House residence with top Wall Street donors who could be key fund-raisers for his re-election bid.
The New York Times, which disclosed the session in a story in Monday editions, said the confab was organized by the Democratic National Committee. On the surface, the meeting sounds somewhat like controversial DNC-arranged coffees that President Bill Clinton held at the White House during the 1996 campaign.
"What needs to be made clear is, contrary to suggestions otherwise, this was not a fundraiser. And the fact that a President meets with his supporters in the business arena to solicit ideas about how to improve the economy is surely a dog-bites-man story," Carney told reporters during a gaggle aboard Air Force One Tuesday morning. "It’s something that presidents of both parties have always done. So, I don’t know what else to say about it."
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What Happens If It’s Not There? CIGA Eric
Tread carefully gentleman, once the box has been opened, it cannot be closed. If the gold at Fort Knox (or other US depositories) is not real, then in terms of the evolving financial crisis, to quote an old street saying, we have yet to see the shit go down.
Headline: Is Gold in Fort Knox Real? Ron Paul Wants to Know
Are the gold bars in Fort Knox really made of the precious metal? Or has the U.S. government secretly sold off the nation’s stockpile and replaced it with metal bars that are only painted gold?
Ron Paul wants to find out.
Giving legitimacy to an Internet conspiracy theory that the gold in Fort Knox is fake, the iconoclast Republican congressman from Texas has asked adminstration officials to audit the purity of the nation’s 700,000 gold bars held in Fort Knox, according to an internal Treasury document obtained by CNBC. Paul, a presidential candidate who chairs the House’s subcommittee on Domestic Monetary Policy, had previously called for the U.S. gold reserve to be counted and for a return to the gold standard. He now appears to be going a step further in his request that representatives from the U.S. Treasury Department and the U.S. Mint testify at a subcommittee hearing on June 23 about the authenticity of the nation’s gold.
Source: cnbc.com
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