This is Ron Paul at his very best! Dr. Paul speaks – without the use of a teleprompter – to a standing-room-only crowd about fiat money, the criminal FED and the beauty of the Constitution, and that’s just the first 90 seconds! And as my video ‘The Ron Paul Fix is in’ notes, the 9/11 event led us directly into this tyrannical state. At 7:00 into this portion of the speech Dr. Paul says, “Because of the horrors of 9/11 people were very concerned, but they were too willing to give up their liberty…”
from MOXNEWSd0tCOM :
MUST SEE: The Real America, in Chicago – Lines Blocks Long in Hopes of Jobs at Ford Motors
Chris Martenson & John Mauldin: It’s Time To Make The Hard Decisions
Back in the 1930′s, Irving Fisher introduced a concept called the ‘debt supercycle’. Simply put, it posits that when there is a buildup of too much debt within an economy, there reaches a point where there simply is no other available solution but to let it rewind.
We are at that point in our economy, as are most other major economies around the world, claims John Maudlin, author of the popular Thoughts from the Frontline newsletter and the recent bestselling book Endgame: The End of the Debt Supercycle and How It Changes Everything.
For the past several decades, excessive and increasing amounts of credit in the system have allowed us to live above our means as both individuals and nations. We’ve been able to have our cake and eat it, too. Now that the supercycle has ended and the inevitable de-leveraging cycle is staring us in the face, we will be forced to set priorities in a way that has been foreign to our society for over a generation.
George Carlin Tells You How It Is
from End of The American Dream:
A
higher percentage of the American population is receiving government
benefits than ever before. Yes, there have always been poor people that
have needed our assistance, but what does it say about our economy that
the number of Americans dependent on the government is at an all-time
high? Every night on the evening news we are told that the economy is improving, and Barack Obama is endlessly giving speeches
about the “economic recovery” that is supposedly underway. But that is
not the reality on the ground for those on the bottom rungs of the
income ladder in America. People are really hurting out there, and the
number of Americans that are turning to the government for financial
assistance just continues to increase. Yes, we should always have a
“safety net”, but right now our “safety net” is becoming massively
overloaded as millions more Americans jump on to it every single year.
What all of these impoverished Americans really need are jobs, but the
U.S. Congress and the past several administrations have been
systematically killing job growth in America. So unfortunately the
number of poor Americans is going to continue to rise, and that is
really bad news for a nation that is already drowning in debt.
Read More @ EndOfTheAmericanDream.com
A
higher percentage of the American population is receiving government
benefits than ever before. Yes, there have always been poor people that
have needed our assistance, but what does it say about our economy that
the number of Americans dependent on the government is at an all-time
high? Every night on the evening news we are told that the economy is improving, and Barack Obama is endlessly giving speeches
about the “economic recovery” that is supposedly underway. But that is
not the reality on the ground for those on the bottom rungs of the
income ladder in America. People are really hurting out there, and the
number of Americans that are turning to the government for financial
assistance just continues to increase. Yes, we should always have a
“safety net”, but right now our “safety net” is becoming massively
overloaded as millions more Americans jump on to it every single year.
What all of these impoverished Americans really need are jobs, but the
U.S. Congress and the past several administrations have been
systematically killing job growth in America. So unfortunately the
number of poor Americans is going to continue to rise, and that is
really bad news for a nation that is already drowning in debt.Read More @ EndOfTheAmericanDream.com
by Andrew Hoffman, MilesFranklin.com:
Before I go over today’s Cartel capping job – er, “market activity,” – let’s start with an article that popped up on Zero Hedge this afternoon, to which I respond – DUH!
Has Bernanke Become A Gold Bug’s Best Friend?
“Helicopter Ben” symbolizes why we own physical gold and silver, but is just a figurehead in the TPTB’s battle against REAL MONEY. Power hungry, status quo seeking governments have fought the MONEY PRINTING constraints of gold and silver standards for centuries, and “independent” or not, Bernanke is just another government employee. Do you think it’s a coincidence the Fed “unexpectedly” became more dovish the day after Obama’s SOTU speech, for all intents and purposes kicking off his re-election campaign with a monetary bang? If so, think again.
Benny may be the current Fed Chairman, but Greenspan and others before him kowtowed to the political establishment in like manner, as ordered by both “conservatives” such as Nixon, Reagan, and Bush, and “liberals” like Johnson, Clinton, and Obama. And don’t forget the Central Bankers in Europe, Japan, China, and numerous other nations, as well as “powerbrokers” such as George Soros with both political influence and a sociopathic lack of consideration for human rights.
Read More @ MilesFranklin.com
Ordinarily
this space would be reserved for Friday humor, but unfortunately, this
is nothing short of a tragedy, especially since as of today the US
debt target is $16.394 trillion, a number which will be breached before
the end of the year, and possibly before the presidential election in
November. As a reminder, in 2011, the US economy grew by 1.7%. It
almost, but not quite, offset the growth of US debt held by the public,
which grew at a brisk 11.3% pace in the past year...
Bloomberg's Trish Regan (yes, she is no longer at CNBC), has just announced that the bank which earlier announced it is shutting down its catastrophic prop trading desk (at which point shreholders let out a sigh of relief), has proceeded with slashing banker pay by 30% for overall comp and some bonuses by as much as 70%. This follows earlier announcements by Bank of America and Morgan Stanley which earlier said they would limit cash bonuses to $150K for senior positions. At the end of the day, the biggest losers are secondary, non-financial New York jobs (supposedly there are some: rat exterminators; strippers; limo drivers; food spitters also known as waiters?) as each banker jobs indirectly supports up to 3 downstream jobs. In other words between layoffs and comp cutting, the immediate impact will likely be to leave New York City, which is the farthest point on the economic procyclical receiving end, with hundreds of thousands of layoffs. Which incidentally, to the bizarro crazy scientists at the BLS, means that initial claims are about to go negative (with the traditional upward revision in the following week).
While Silver had a better week than Gold (+5.4% vs 4.3%), Gold managed its biggest gain in three months
as the Fed's QE-ness seemed to separate the precious metals from other
asset classes. Oil underperformed relative to the USD's weakness (-2%
on the week in DXY) managing only a 1.3% gain (and ending below $100).
Silver and Gold have no managed four weeks in a row of gains as the
latter has more than retraced half of the all-time high sell-off range.
With 5 minutes to go, NYSE volume was -32% from yesterday, by the close
of the cash markets it was only down 2.5% leaving the week -10% from
last week (so 32% of the day's NYSE volume was done in the last 1.3% of the day). In credit, HYG underperformed stocks, HY credit stayed synced with stocks and IG outperformed (touching 100bps as we closed). Treasuries ended
the day (and week) at their low yields with 5s to 10s all lower by
around 14bps on the week and 30Y rallying to -4bps on the week by the
close. FX markets were a little odd as EURUSD squeezed
higher and higher all day (largely ignored until a late ramp) by stocks
as JPY's strength kept EURJPY (carry driver) relatively flat. EURUSD
ended at 1.3227 (up around 300pips on the week) at its highest in 7
weeks as CFTC net shorts rose once again to new record highs at 171k.
Broadly speaking risk assets and ES (the e-mini S&P 500 futures
contract) have been highly correlated all week. This afternoon saw
CONTEXT pull ES higher (mainly on EURJPY strength, and Oil stability
versus TSY/Curve compression) but after the cash market close, ES limped back down to its VWAP to end its worst-performing week of the year (+0.15%)
though not down (which we are sure would scare investors away) as
stocks handily underperformed credit on the week as high beta starts to
unwind.
Before I go over today’s Cartel capping job – er, “market activity,” – let’s start with an article that popped up on Zero Hedge this afternoon, to which I respond – DUH!
Has Bernanke Become A Gold Bug’s Best Friend?
“Helicopter Ben” symbolizes why we own physical gold and silver, but is just a figurehead in the TPTB’s battle against REAL MONEY. Power hungry, status quo seeking governments have fought the MONEY PRINTING constraints of gold and silver standards for centuries, and “independent” or not, Bernanke is just another government employee. Do you think it’s a coincidence the Fed “unexpectedly” became more dovish the day after Obama’s SOTU speech, for all intents and purposes kicking off his re-election campaign with a monetary bang? If so, think again.
Benny may be the current Fed Chairman, but Greenspan and others before him kowtowed to the political establishment in like manner, as ordered by both “conservatives” such as Nixon, Reagan, and Bush, and “liberals” like Johnson, Clinton, and Obama. And don’t forget the Central Bankers in Europe, Japan, China, and numerous other nations, as well as “powerbrokers” such as George Soros with both political influence and a sociopathic lack of consideration for human rights.
Read More @ MilesFranklin.com
Ron Paul Kicks off Two-day Tour of Maine in Bangor
Endgame Begins - UK "Foreign Office Sources Say Merkel Now Thinks Greece Will Default"
Friday Tragedy: The US Debt Limit Explained
Ordinarily
this space would be reserved for Friday humor, but unfortunately, this
is nothing short of a tragedy, especially since as of today the US
debt target is $16.394 trillion, a number which will be breached before
the end of the year, and possibly before the presidential election in
November. As a reminder, in 2011, the US economy grew by 1.7%. It
almost, but not quite, offset the growth of US debt held by the public,
which grew at a brisk 11.3% pace in the past year...Citi Joins The Cost-Cutting Ranks By Slashing Bonuses Up To 70%
Bloomberg's Trish Regan (yes, she is no longer at CNBC), has just announced that the bank which earlier announced it is shutting down its catastrophic prop trading desk (at which point shreholders let out a sigh of relief), has proceeded with slashing banker pay by 30% for overall comp and some bonuses by as much as 70%. This follows earlier announcements by Bank of America and Morgan Stanley which earlier said they would limit cash bonuses to $150K for senior positions. At the end of the day, the biggest losers are secondary, non-financial New York jobs (supposedly there are some: rat exterminators; strippers; limo drivers; food spitters also known as waiters?) as each banker jobs indirectly supports up to 3 downstream jobs. In other words between layoffs and comp cutting, the immediate impact will likely be to leave New York City, which is the farthest point on the economic procyclical receiving end, with hundreds of thousands of layoffs. Which incidentally, to the bizarro crazy scientists at the BLS, means that initial claims are about to go negative (with the traditional upward revision in the following week).
Biggest Week For Gold In 3 Months
While Silver had a better week than Gold (+5.4% vs 4.3%), Gold managed its biggest gain in three months
as the Fed's QE-ness seemed to separate the precious metals from other
asset classes. Oil underperformed relative to the USD's weakness (-2%
on the week in DXY) managing only a 1.3% gain (and ending below $100).
Silver and Gold have no managed four weeks in a row of gains as the
latter has more than retraced half of the all-time high sell-off range.
With 5 minutes to go, NYSE volume was -32% from yesterday, by the close
of the cash markets it was only down 2.5% leaving the week -10% from
last week (so 32% of the day's NYSE volume was done in the last 1.3% of the day). In credit, HYG underperformed stocks, HY credit stayed synced with stocks and IG outperformed (touching 100bps as we closed). Treasuries ended
the day (and week) at their low yields with 5s to 10s all lower by
around 14bps on the week and 30Y rallying to -4bps on the week by the
close. FX markets were a little odd as EURUSD squeezed
higher and higher all day (largely ignored until a late ramp) by stocks
as JPY's strength kept EURJPY (carry driver) relatively flat. EURUSD
ended at 1.3227 (up around 300pips on the week) at its highest in 7
weeks as CFTC net shorts rose once again to new record highs at 171k.
Broadly speaking risk assets and ES (the e-mini S&P 500 futures
contract) have been highly correlated all week. This afternoon saw
CONTEXT pull ES higher (mainly on EURJPY strength, and Oil stability
versus TSY/Curve compression) but after the cash market close, ES limped back down to its VWAP to end its worst-performing week of the year (+0.15%)
though not down (which we are sure would scare investors away) as
stocks handily underperformed credit on the week as high beta starts to
unwind.
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
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