If you had read the Winter 2012 Trends Journal, published in early
January, you’d know that we accurately forecast, in detail, virtually
everything going on right now in the financial world and in the
geopolitical arena.We respectfully submit that no other publication can make such a claim. It’s all there in black & white, brilliantly illustrated in full-color, award-winning graphics.
As a prelude to discussing the “Top 12 Trends” for 2012, we wrote:
“2012 is the year when many of the long-simmering socioeconomic and geopolitical trends we have been forecasting and tracking will climax.” And climax they have.
We predicted the Greek debt crisis would not be solved, but would deteriorate, even as European leaders were insisting they had solved it:
“Thanks to our efforts,” bragged French President, Nicolas Sarkozy, “if there had not been an agreement … it was not just Europe that would have sunk into catastrophe, it was the whole world.”
“Agreement” notwithstanding, the whole world is now demonstrably heading toward “catastrophe.”
Read More @ Rense.com
by Louise Armitstead, The Telegraph:
Mario Draghi said the central bank could not “fill the vacuum” left by
member states’ lack of action as it was claimed the zone is on the
point of “disintegration”.Amid escalating talk of a potential bail-out for Spain, the president of the ECB said the central bank was powerless to stop the debt tornado. “It’s not our duty, it’s not in our mandate” to “fill the vacuum left by the lack of action by national governments on the fiscal front,” he said.
Christine Lagarde, the head of the International Monetary Fund, last night denied that an IMF bail-out of Spain was being prepared.
“There is no such plan. We have not received any request to that effect and we are not doing any work in relation to any financial support,” she said, following a meeting with Spain’s deputy prime minister, Soraya Saenz de Santamaria.
Read More @ Telegraph.co.uk
Print baby, print.
from The Telegraph:
“Print baby, print.” That’s the prediction from Jason
Conibear, market analysis director at Cambridge Mercantile:
Following a morning of weak PMIs, this stupendously poor non-farm payrolls data adds a funereal tone to markets as they slide towards June 17. The global economy is in a seriously bad way and we’re running out of options to turn things around. More QE is now looking highly likely, in both the US and UK. Print baby, print.
“Print baby, print.” That’s the prediction from JasonConibear, market analysis director at Cambridge Mercantile:
Following a morning of weak PMIs, this stupendously poor non-farm payrolls data adds a funereal tone to markets as they slide towards June 17. The global economy is in a seriously bad way and we’re running out of options to turn things around. More QE is now looking highly likely, in both the US and UK. Print baby, print.
from KingWorldNews:
May 31 (King World News) – Stock
market investors have since 1999 been under the illusion that their
stock portfolio has maintained its value or even gone up slightly.
Since September 1999 the Dow is up around 7%. So investors are lulled
into a false sense of security that although they haven’t achieved the
profits they made in the 1990s, their stock portfolio has maintained its
value.
May 31 (King World News) – Stock
market investors have since 1999 been under the illusion that their
stock portfolio has maintained its value or even gone up slightly.
Since September 1999 the Dow is up around 7%. So investors are lulled
into a false sense of security that although they haven’t achieved the
profits they made in the 1990s, their stock portfolio has maintained its
value.
Very few investors actually understand that
they have lost over 80% of their money in real terms in the last 13
years. As the graph below shows, the Dow is down 82% against gold since
1999. So the illusory gain of 7% actually translates to a total
destruction of capital in real terms.
Egon von Greyerz continues @ KingWorldNews.com
from Silver Doctors:
6 months ago we informed readers that Greece, Italy, Portugal, and
Spain’s gold reserves would be grabbed prior to the end of the PIIGS’
debt crisis.
It appears we were 100% correct on the outcome, and 100% wrong on the timing.
The BIS HAD ALREADY GRABBED THE GOLD WITH CURRENCY SWAPS PRIOR TO ANY OFFICIAL BAILOUT DISCUSSIONS!!!
The Bank of International Settlement holds 500.7 tonnes of gold as at the end of 2010. In the third quarter of 2009 it held just under 120 tonnes. These were part of currency/gold swaps. There are no details of the names of the counter-parties. Coincidentally, they could be nearly the total of the ‘official’ gold holdings of Greece, Portugal and Spain.
In the first quarter of 2010 the B.I.S. recorded the jump in gold holdings that it had acquired. Four years prior to that Portugal and Spain had sold gold through the Central Bank Gold Agreement on the open market. So we do not link sales under that agreement with these B.I.S. transactions.
Read More @ SilverDoctors.com
6 months ago we informed readers that Greece, Italy, Portugal, and
Spain’s gold reserves would be grabbed prior to the end of the PIIGS’
debt crisis.It appears we were 100% correct on the outcome, and 100% wrong on the timing.
The BIS HAD ALREADY GRABBED THE GOLD WITH CURRENCY SWAPS PRIOR TO ANY OFFICIAL BAILOUT DISCUSSIONS!!!
The Bank of International Settlement holds 500.7 tonnes of gold as at the end of 2010. In the third quarter of 2009 it held just under 120 tonnes. These were part of currency/gold swaps. There are no details of the names of the counter-parties. Coincidentally, they could be nearly the total of the ‘official’ gold holdings of Greece, Portugal and Spain.
In the first quarter of 2010 the B.I.S. recorded the jump in gold holdings that it had acquired. Four years prior to that Portugal and Spain had sold gold through the Central Bank Gold Agreement on the open market. So we do not link sales under that agreement with these B.I.S. transactions.
Read More @ SilverDoctors.com
from Jesse’s Café Américain:
“Why Nations Fail: The Origins of Power, Prosperity, and Poverty,”
by Daron Acemoglu and James Robinson, is a brilliant and sometimes
breathtaking survey of country-level governance over history and around
the world. Professors Acemoglu and Robinson discern a simple pattern – when
elites are held in check, typically by effective legal mechanisms,
everyone else in society does much better and sustained economic growth
becomes possible. But powerful people – kings, barons, industrialists,
bankers – work long and hard to relax the constraints on their actions.
And when they succeed, the effects are not just redistribution toward
themselves but also an undermining of economic growth and often a
tearing at the fabric of society. (I’ve worked with the authors on related issues, but I was not involved in writing the book.)
Read More @ Jesse’s Café Américain:
“Why Nations Fail: The Origins of Power, Prosperity, and Poverty,”
by Daron Acemoglu and James Robinson, is a brilliant and sometimes
breathtaking survey of country-level governance over history and around
the world. Professors Acemoglu and Robinson discern a simple pattern – when
elites are held in check, typically by effective legal mechanisms,
everyone else in society does much better and sustained economic growth
becomes possible. But powerful people – kings, barons, industrialists,
bankers – work long and hard to relax the constraints on their actions.
And when they succeed, the effects are not just redistribution toward
themselves but also an undermining of economic growth and often a
tearing at the fabric of society. (I’ve worked with the authors on related issues, but I was not involved in writing the book.)Read More @ Jesse’s Café Américain:
from Got Gold Report:
HOUSTON – As a courtesy to our blog readership, just below is a video
update we shared with Got Gold Report Subscribers on Monday, May 28.
The video deals mainly with the changes in the most recent CFTC
Commitments of Traders (COT) report for gold and silver futures,
including some exciting developments in the structure of the very low
Managed Money (hedge funds, commodity trading advisors, etc.) net long
position.
Absent a total global “Charlie Foxtrot” (a military term meaning a really bad event) the COT suggests that dips for gold and silver should be exceedingly well bid just ahead. Indeed, the structure of the COT is about as bullish as we have seen it for silver futures.
Read More @ GotGoldReport.com
HOUSTON – As a courtesy to our blog readership, just below is a video
update we shared with Got Gold Report Subscribers on Monday, May 28.
The video deals mainly with the changes in the most recent CFTC
Commitments of Traders (COT) report for gold and silver futures,
including some exciting developments in the structure of the very low
Managed Money (hedge funds, commodity trading advisors, etc.) net long
position.Absent a total global “Charlie Foxtrot” (a military term meaning a really bad event) the COT suggests that dips for gold and silver should be exceedingly well bid just ahead. Indeed, the structure of the COT is about as bullish as we have seen it for silver futures.
Read More @ GotGoldReport.com
By Greg Canavan, DailyReckoning.com.au:
Capital
goes to where it’s treated best. With the slow but steady breakdown of
the post-1971 US dollar-based monetary system, capital is no longer
treated very well. So it becomes restless, nervous, and suspicious. It
flees unwelcoming homes, and knocks on the doors of those it believes
might take better care of it.
Capital has already fled Greece, Portugal and Ireland. It’s now fleeing Spain in droves. The FT reports that nearly €100 billion flowed out of the banking system in the first three months of the year. You can bet that the outflow has gathered pace since then.
Whose door is the escaping capital knocking on? A dwindling number of countries — Germany, the US, the UK, and even Australia. Government bond yields in these countries are approaching their lowest levels in history.
Read More @ DailyReckoning.com.au
Capital
goes to where it’s treated best. With the slow but steady breakdown of
the post-1971 US dollar-based monetary system, capital is no longer
treated very well. So it becomes restless, nervous, and suspicious. It
flees unwelcoming homes, and knocks on the doors of those it believes
might take better care of it.Capital has already fled Greece, Portugal and Ireland. It’s now fleeing Spain in droves. The FT reports that nearly €100 billion flowed out of the banking system in the first three months of the year. You can bet that the outflow has gathered pace since then.
Whose door is the escaping capital knocking on? A dwindling number of countries — Germany, the US, the UK, and even Australia. Government bond yields in these countries are approaching their lowest levels in history.
Read More @ DailyReckoning.com.au
from GoldCore:
Gold edged down on Friday heading towards its 2nd week of losses as
some investors remain on the sidelines. Traders await clues from US
non-farm payrolls data for May at 1230 GMT.
Periphery European bond yields have risen again and unemployment in the Eurozone has risen to a record high. There is a distinct feeling that there is a massive financial volcano that may erupt at any moment.
US data released yesterday showed that economic growth was softer than expected in Q1, with slower factory output and a shrinking job market. The question is when and how will the US Fed react to more negative news on the US economy? The answer we are confident is more QE and currency debasement.
Gold incurred its 4th month of losses in dollar terms which has not been seen in nearly 13 years. However, it is important to put those losses in perspective. It is also important to look at gold’s performance in non dollar terms.
Read More @ goldcore.com
Gold edged down on Friday heading towards its 2nd week of losses as
some investors remain on the sidelines. Traders await clues from US
non-farm payrolls data for May at 1230 GMT.Periphery European bond yields have risen again and unemployment in the Eurozone has risen to a record high. There is a distinct feeling that there is a massive financial volcano that may erupt at any moment.
US data released yesterday showed that economic growth was softer than expected in Q1, with slower factory output and a shrinking job market. The question is when and how will the US Fed react to more negative news on the US economy? The answer we are confident is more QE and currency debasement.
Gold incurred its 4th month of losses in dollar terms which has not been seen in nearly 13 years. However, it is important to put those losses in perspective. It is also important to look at gold’s performance in non dollar terms.
Read More @ goldcore.com
by Jeff Berwick, Dollar Vigilante:
I love barbed wire. I love electric fences. I love gates and
security systems, guard dogs and guns. As I strolled with my chihuahuas
through my beautiful Acapulco neighborhood recently I realized this.
An American friend who had come down to Acapulco to live pointed it out.
“Wow, electric fence,” he stated, pointing at one of many nice villas
in my neighborhood that have that type of fencing. I had never really
thought about it, but his comment gave me reason to do so.
It also reminded me of a travel review I had read recently when I was in a beautiful part of Asuncion, Paraguay. I had gone for a walk in a nice suburb and many houses had large gates and barbed wire, broken glass or electric fences at the top of the wall. Again, I hadn’t given it much thought but the travel review, from an American – always the last to recognize freedom – stated, “Asuncion must be a terribly dangerous town, almost every house has large gates and barbed wire or razor wire fencing.”
Read More @ DollarVigilante.com
I love barbed wire. I love electric fences. I love gates and
security systems, guard dogs and guns. As I strolled with my chihuahuas
through my beautiful Acapulco neighborhood recently I realized this.
An American friend who had come down to Acapulco to live pointed it out.
“Wow, electric fence,” he stated, pointing at one of many nice villas
in my neighborhood that have that type of fencing. I had never really
thought about it, but his comment gave me reason to do so.It also reminded me of a travel review I had read recently when I was in a beautiful part of Asuncion, Paraguay. I had gone for a walk in a nice suburb and many houses had large gates and barbed wire, broken glass or electric fences at the top of the wall. Again, I hadn’t given it much thought but the travel review, from an American – always the last to recognize freedom – stated, “Asuncion must be a terribly dangerous town, almost every house has large gates and barbed wire or razor wire fencing.”
Read More @ DollarVigilante.com
from Zerohedge:
The market was anxious going in to the NFP print but once the dismal data point hit, things deteriorated rapidly.
Pre-NFP ->EUR 1.2322, ES 1292, WTI $84, 10Y 1.51%, 30Y 2.59%, gold $1554
Post-NFP -> EUR -10pips 1.2312, ES -10 1282, WTI -$1.2 $82.8, 10Y -5bps 1.46%, 30Y -7bps 2.52%, gold +$18 $1572
Treasury yields at record lows (10Y well below and 30Y right at Dec08 lows) as Gold pops (QE hope?) but stocks don’t for now (reality of QE’s inability to really help?). Oil down on global growth markdowns and EUR modestly weaker (choppy but practically unch now) – though looks like its all relative printing expectations now.
Gold vs USD vs Stocks vs Treasury Yields
Read More @ Zerohedge
The market was anxious going in to the NFP print but once the dismal data point hit, things deteriorated rapidly.
Pre-NFP ->EUR 1.2322, ES 1292, WTI $84, 10Y 1.51%, 30Y 2.59%, gold $1554
Post-NFP -> EUR -10pips 1.2312, ES -10 1282, WTI -$1.2 $82.8, 10Y -5bps 1.46%, 30Y -7bps 2.52%, gold +$18 $1572
Treasury yields at record lows (10Y well below and 30Y right at Dec08 lows) as Gold pops (QE hope?) but stocks don’t for now (reality of QE’s inability to really help?). Oil down on global growth markdowns and EUR modestly weaker (choppy but practically unch now) – though looks like its all relative printing expectations now.
Gold vs USD vs Stocks vs Treasury Yields
Read More @ Zerohedge
from Bullion Street:
BEIJING(BullionStreet): China’s Shanghai Futures Exchange, who
recently launched silver futures indicated the exchange will allow
foreign involvement in metals trading gradually and may set up overseas
delivery points.
According to Wang Lihua, chairwoman of the SHFE, the atmosphere is more clear now than in 2008 when China’s securities regulator said rules were not in place to allow foreign exchanges to operate mainland facilities for contract deliveries.
The Shanghai exchange in late 2010 started a trial to allow copper and aluminum delivery to so-called “bonded warehouses” in Shanghai’s free trade zones where the metals are exempt from value-added tax as well as import duties.
Read More @ BullionStreet.com
BEIJING(BullionStreet): China’s Shanghai Futures Exchange, who
recently launched silver futures indicated the exchange will allow
foreign involvement in metals trading gradually and may set up overseas
delivery points.According to Wang Lihua, chairwoman of the SHFE, the atmosphere is more clear now than in 2008 when China’s securities regulator said rules were not in place to allow foreign exchanges to operate mainland facilities for contract deliveries.
The Shanghai exchange in late 2010 started a trial to allow copper and aluminum delivery to so-called “bonded warehouses” in Shanghai’s free trade zones where the metals are exempt from value-added tax as well as import duties.
Read More @ BullionStreet.com
by Dorothy Kosich, MineWeb.com
If China’s regulators are amenable to the necessary legal changes, the Shanghai Futures Exchange could eventually compete with the LME, both in China and offshore.
The London Metal Exchange says China is showing a “much more open attitude” toward the notion of allowing the LME to expand its warehouse network into China.
The Shanghai Futures Exchange is also considering establishing overseas warehouses and opening metals contracts to foreign investors in competition with the LME.
On Monday Shanghai Futures Exchange Chairman Wang Lihua said China’s second largest bourse will eventually allow foreign participation in metals trading and may gradually set up overseas warehouses.
Read More @ MineWeb.com
If China’s regulators are amenable to the necessary legal changes, the Shanghai Futures Exchange could eventually compete with the LME, both in China and offshore.
The London Metal Exchange says China is showing a “much more open attitude” toward the notion of allowing the LME to expand its warehouse network into China.
The Shanghai Futures Exchange is also considering establishing overseas warehouses and opening metals contracts to foreign investors in competition with the LME.
On Monday Shanghai Futures Exchange Chairman Wang Lihua said China’s second largest bourse will eventually allow foreign participation in metals trading and may gradually set up overseas warehouses.
Read More @ MineWeb.com
by Reggie Middleton, BoomBustBlog.com:
Those that regularly follow me know that although I’m quite the
mediocre short term trader, I have uncommon strengths that lie in the
realm of medium to long term strategy and macro-fundamental valuation.
Unfortunately, with the advent of free money and perpetually whirring
inkjets splashing that Frankiln hue of green all over the place, the
value of longer term strategy and analysis has taken a back seat to buy
it today and flip it tomorrow wannabe mo-mo enthusiasts who do nothing
more than chase leveraged beta with a 2/20 toll to those foolish enough
to part with their lesser educated funds. It’s downright disheartening
to hear so many lament that fundamental analysis doesn’t work. My dear
friends, if fundamental analysis doesn’t work, then math doesn’t work!
If math doesn’t work, exactly how is it you can measure whatever gains
you have made while trading? Oh yeah, that’s right! Fundamental analysis
doesn’t work until its time to positively value your operation, then
all of a sudden math is the new sexy, right?
Read More @ BoomBustBlog.com
by Ryan Smyth, Activist Post
When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it. — Frederic Bastiat
In Part 1
we looked at the mechanics of fractional reserve banking and the
mathematics behind it. We also saw how absurd it could be when trying
to divide by zero. Then in Part 2 we looked at one perspective of “what is money?” and defined it in terms of its relationship to wealth.
It is now time to turn our attention to discovering “how” fractional reserve banking creates money. Once we understand the “how”, we can answer the question, “Why is fractional reserve banking fraudulent?”
If you recall the basic fractional reserve banking cycle, it went like this:
Read More @ Activist Post
Click Here for Part 2
Those that regularly follow me know that although I’m quite the
mediocre short term trader, I have uncommon strengths that lie in the
realm of medium to long term strategy and macro-fundamental valuation.
Unfortunately, with the advent of free money and perpetually whirring
inkjets splashing that Frankiln hue of green all over the place, the
value of longer term strategy and analysis has taken a back seat to buy
it today and flip it tomorrow wannabe mo-mo enthusiasts who do nothing
more than chase leveraged beta with a 2/20 toll to those foolish enough
to part with their lesser educated funds. It’s downright disheartening
to hear so many lament that fundamental analysis doesn’t work. My dear
friends, if fundamental analysis doesn’t work, then math doesn’t work!
If math doesn’t work, exactly how is it you can measure whatever gains
you have made while trading? Oh yeah, that’s right! Fundamental analysis
doesn’t work until its time to positively value your operation, then
all of a sudden math is the new sexy, right?Read More @ BoomBustBlog.com
by Ryan Smyth, Activist Post
When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it. — Frederic Bastiat
In Part 1
we looked at the mechanics of fractional reserve banking and the
mathematics behind it. We also saw how absurd it could be when trying
to divide by zero. Then in Part 2 we looked at one perspective of “what is money?” and defined it in terms of its relationship to wealth.It is now time to turn our attention to discovering “how” fractional reserve banking creates money. Once we understand the “how”, we can answer the question, “Why is fractional reserve banking fraudulent?”
If you recall the basic fractional reserve banking cycle, it went like this:
Read More @ Activist Post
Click Here for Part 2
from KingWorldNews:
Rob Arnott: Founder & Chairman of Research Affiliates – Rob’s firm
RALLC manages and licenses over $100 billion. Rob sub advises the Pimco
All Asset Fund and also sub advises mutual funds and ETFs for the
Schwab Funds, Powershares and Nomura. Rob is a 5 time Graham & Dodd
award winner, a global leader in innovative investing and asset
allocation strategies. Research Affiliates did the original research on
fundamental indexing and Rob is the author of “The Fundamental Index”
(John Wiley & Sons, 2008). He is also a former editor of the
Financial Analysts Journal.
LISTEN NOW @ KingWorldNews.com
Rob Arnott: Founder & Chairman of Research Affiliates – Rob’s firm
RALLC manages and licenses over $100 billion. Rob sub advises the Pimco
All Asset Fund and also sub advises mutual funds and ETFs for the
Schwab Funds, Powershares and Nomura. Rob is a 5 time Graham & Dodd
award winner, a global leader in innovative investing and asset
allocation strategies. Research Affiliates did the original research on
fundamental indexing and Rob is the author of “The Fundamental Index”
(John Wiley & Sons, 2008). He is also a former editor of the
Financial Analysts Journal. LISTEN NOW @ KingWorldNews.com
from The Economic Collapse Blog:
America has been overrun by control freaks. Once upon a time the
United States was considered to be “the land of the free and the home of
the brave”, but today there are millions of laws, rules and regulations
that tightly regulate our daily lives. Most of these laws, rules and
regulations were established by people who believed that they had “good
intentions”, but at this point the nanny state has become so oppressive
that it is strangling the life out of us. If you look back throughout
history, the societies that have really thrived have had a very high
degree of liberty and freedom. When the bureaucrats get the upper hand,
it can suck the life out of any economy. Unfortunately, our political
system seems to be a magnet for control freaks. These control freaks
truly believe that they know better than the rest of us and they are
systematically moving toward taking total control of our lives. Our
rights are being stripped away a little bit more with each passing day,
and we are being told that we need a “permit” or a “license” for almost
everything. Many younger Americans have been living this kind of
“straight jacket existence” for so long that they don’t even remember
what real liberty and freedom are. We are steamrolling down the road
toward totalitarianism, and most Americans don’t even realize what is
happening.
Read More @ TheEconomicCollpaseBlog.com
America has been overrun by control freaks. Once upon a time the
United States was considered to be “the land of the free and the home of
the brave”, but today there are millions of laws, rules and regulations
that tightly regulate our daily lives. Most of these laws, rules and
regulations were established by people who believed that they had “good
intentions”, but at this point the nanny state has become so oppressive
that it is strangling the life out of us. If you look back throughout
history, the societies that have really thrived have had a very high
degree of liberty and freedom. When the bureaucrats get the upper hand,
it can suck the life out of any economy. Unfortunately, our political
system seems to be a magnet for control freaks. These control freaks
truly believe that they know better than the rest of us and they are
systematically moving toward taking total control of our lives. Our
rights are being stripped away a little bit more with each passing day,
and we are being told that we need a “permit” or a “license” for almost
everything. Many younger Americans have been living this kind of
“straight jacket existence” for so long that they don’t even remember
what real liberty and freedom are. We are steamrolling down the road
toward totalitarianism, and most Americans don’t even realize what is
happening.Read More @ TheEconomicCollpaseBlog.com
from The American Dream:
One of the fastest ways to ruin the Internet would be to put the
United Nations in charge of it. Unfortunately, that is exactly what the
United Nations wants. The United Nations is now pushing very hard for
complete control over the Internet. A proposal that has the support of
China, Russia, India, Brazil, Saudi Arabia and Iran would give control
of the Internet to the UN’s International Telecommunication Union. This
is perhaps the greatest threat to the free and open Internet that we
have seen yet. At a UN conference in Dubai this upcoming December,
representatives from 193 nations will debate this proposal. The United
States and many European nations are firmly against this proposal, but
it is unclear whether they have the votes to stop it. Unlike the
Security Council, there are no vetoes when it comes to ITU proceedings.
So the United States may not be able to stop governance of the Internet
from being handed over to the United Nations. The United States could
opt out of any new treaty, but that would result in a “balkanized”
Internet. If the UN gains control over the Internet, you can expect a
whole new era of censorship, taxes, and surveillance. It would be
absolutely catastrophic for the free flow of commerce and information
around the globe. Unfortunately, many repressive regimes are very
dissatisfied with how the Internet is currently working and they
desperately want to be able to use the power of the UN to tax, regulate
and censor the Internet. Needless to say, that would be a disaster.
International control over the Internet would be a complete and total
nightmare and it must be resisted.
Read More @ EndOfTheAmericanDream.com
One of the fastest ways to ruin the Internet would be to put the
United Nations in charge of it. Unfortunately, that is exactly what the
United Nations wants. The United Nations is now pushing very hard for
complete control over the Internet. A proposal that has the support of
China, Russia, India, Brazil, Saudi Arabia and Iran would give control
of the Internet to the UN’s International Telecommunication Union. This
is perhaps the greatest threat to the free and open Internet that we
have seen yet. At a UN conference in Dubai this upcoming December,
representatives from 193 nations will debate this proposal. The United
States and many European nations are firmly against this proposal, but
it is unclear whether they have the votes to stop it. Unlike the
Security Council, there are no vetoes when it comes to ITU proceedings.
So the United States may not be able to stop governance of the Internet
from being handed over to the United Nations. The United States could
opt out of any new treaty, but that would result in a “balkanized”
Internet. If the UN gains control over the Internet, you can expect a
whole new era of censorship, taxes, and surveillance. It would be
absolutely catastrophic for the free flow of commerce and information
around the globe. Unfortunately, many repressive regimes are very
dissatisfied with how the Internet is currently working and they
desperately want to be able to use the power of the UN to tax, regulate
and censor the Internet. Needless to say, that would be a disaster.
International control over the Internet would be a complete and total
nightmare and it must be resisted.Read More @ EndOfTheAmericanDream.com
by James J. Puplava CFP, Financial Sense:
The world appears to be fixated on events in Europe. Speculation as
to the probable outcome changes almost hourly, depending on which
desperate politician is in front of the camera. The main focus is on
Greece. However, Spanish and Italian bond yields are back again at
nosebleed levels. As of yesterday’s close, they’re up more than 200
basis points on Spanish 10-year notes, 113 basis points on Italian debt,
and 138 basis points on Portuguese bonds. By contrast, the yield on
10-year treasury notes has fallen to a record 1.546%, a yield we haven’t
seen since 1946. German bunds are also at record lows, dropping to
1.21%.
However, damage control depends on how Greece leaves if that is what transpires. A disorderly exit could ignite a financial contagion (think Lehman) leading to additional bank runs in other countries, a freezing up of interbank lending, and a vacuum in international trade finance. If this scenario plays out everyone would be impacted, and that includes the US.
Read More @ Financial Sense.com
The world appears to be fixated on events in Europe. Speculation as
to the probable outcome changes almost hourly, depending on which
desperate politician is in front of the camera. The main focus is on
Greece. However, Spanish and Italian bond yields are back again at
nosebleed levels. As of yesterday’s close, they’re up more than 200
basis points on Spanish 10-year notes, 113 basis points on Italian debt,
and 138 basis points on Portuguese bonds. By contrast, the yield on
10-year treasury notes has fallen to a record 1.546%, a yield we haven’t
seen since 1946. German bunds are also at record lows, dropping to
1.21%.However, damage control depends on how Greece leaves if that is what transpires. A disorderly exit could ignite a financial contagion (think Lehman) leading to additional bank runs in other countries, a freezing up of interbank lending, and a vacuum in international trade finance. If this scenario plays out everyone would be impacted, and that includes the US.
Read More @ Financial Sense.com
from Silver Vigilante:
The terminal episode is near for the financials. Of course, society
will be manipulated into keeping them on life support with the oxygen of
Federal Reserve Notes until further notice. Nonetheless, there is no
sound reason for throwing one’s money into the abyss of the black hole
banking industry, and the charts prove it.
When measured against the silver chart, the share price performance of the “Big 5” paints them to be exactly what they are: expiring giants.
The current average share price of the top five largest United States banks is currently $38.434, although this number is obfuscated by a Goldman Sachs Group, Inc. share price of $94.50 which is clearly anomalous next to the share prices of Bank of America Corporation ($7.16), JP Morgan Chase & Co. ($32.91), Citigroup Inc. ($26) and Wells Fargo & Company ($31.55). When one removes Goldman Sachs Group, Inc. from the previous equation, the average price of the top four banks equals $24.417.
Read More @ SilverVigilante.com
When measured against the silver chart, the share price performance of the “Big 5” paints them to be exactly what they are: expiring giants.
The current average share price of the top five largest United States banks is currently $38.434, although this number is obfuscated by a Goldman Sachs Group, Inc. share price of $94.50 which is clearly anomalous next to the share prices of Bank of America Corporation ($7.16), JP Morgan Chase & Co. ($32.91), Citigroup Inc. ($26) and Wells Fargo & Company ($31.55). When one removes Goldman Sachs Group, Inc. from the previous equation, the average price of the top four banks equals $24.417.
Read More @ SilverVigilante.com
from KingWorldNews:
With continued volatility in major markets, as well as gold and
silver, today King World News interviewed James Turk out of Europe. Turk
told KWN, “The money coming out of the stock market is not only going
into German and US government paper; it is also going into gold and
silver…” Here is what Turk had to say about the accelerating global
crisis: “The global financial situation is really starting to
spin out of control, Eric. It won’t be long now before the Federal
Reserve, ECB, Bank of Japan and Bank of England start more QE in an
attempt to keep global stock markets from imploding and causing another
Lehman Brothers collapse.”
Rob Arnott continues @ KingWorldNews.com
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With continued volatility in major markets, as well as gold and
silver, today King World News interviewed James Turk out of Europe. Turk
told KWN, “The money coming out of the stock market is not only going
into German and US government paper; it is also going into gold and
silver…” Here is what Turk had to say about the accelerating global
crisis: “The global financial situation is really starting to
spin out of control, Eric. It won’t be long now before the Federal
Reserve, ECB, Bank of Japan and Bank of England start more QE in an
attempt to keep global stock markets from imploding and causing another
Lehman Brothers collapse.”Rob Arnott continues @ KingWorldNews.com
Please Donate
Thank You
I'm PayPal Verified
![[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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