from KingWorldNews:
Today four-decade veteran John Hathaway shocked King World News by predicting that we are about to start seeing $100+ up-days in gold. The prolific manager of the Tocqueville Gold Fund also stated that the Fed is close to acting and they are most likely going to do something, “… on a very big scale.” He warned, “… there is nothing worse than having an activist Fed which is ineffectual. That would just destroy confidence.”
Here is what Hathaway had to say: “Hilsenranth, who everybody knows by now is basically a mouthpiece for the Fed, he went quite extensively into what the Fed is thinking about doing, including a round of quantitative easing, putting nominal interest rates to negative levels, and possibly cutting the interest rate on free reserves.”
John Hathaway continues @ KingWorldNews.com
Today four-decade veteran John Hathaway shocked King World News by predicting that we are about to start seeing $100+ up-days in gold. The prolific manager of the Tocqueville Gold Fund also stated that the Fed is close to acting and they are most likely going to do something, “… on a very big scale.” He warned, “… there is nothing worse than having an activist Fed which is ineffectual. That would just destroy confidence.”
Here is what Hathaway had to say: “Hilsenranth, who everybody knows by now is basically a mouthpiece for the Fed, he went quite extensively into what the Fed is thinking about doing, including a round of quantitative easing, putting nominal interest rates to negative levels, and possibly cutting the interest rate on free reserves.”
John Hathaway continues @ KingWorldNews.com
ALERT: Gun Control Amendment Restricting Magazine Size To 10 Rounds Slipped Into Cyber Security Bill
from Diane Alter, SilverBearCafe.com:
The U.S. Federal Reserve is about to give a huge boost to gold prices, and the first push could come as soon as next week.
The U.S. Federal Reserve is about to give a huge boost to gold prices, and the first push could come as soon as next week.
The parade of dismal economic reports both here and abroad has stoked
hopes that more stimulus, in the form of a third round of quantitative
easing, is imminent. A clear signal of when we can expect QE3 could come at next week’s two-day Federal Open Market Committee (FOMC) meeting that starts July 31.
An increasing number of Federal Reserve officials are convinced the central bank must expand its stimulus operation immediately
amid the recent spate of glum data signaling economic growth has hit a
roadblock. Several members will push for urgent action, although some
may move to delay a decision until September.
Read More @ SilverBearCafe.comDid The Market Remove Its Own QE Punchbowl?
There
are only three words that send a chill down the spine of Ben Bernanke -
Ron, Paul, and Deflation. His life's work is devoted to the
avoidance-at-all-costs of the latter (and probably the former in
reality). As we discussed here two weeks ago,
his actions in extreme monetary policy have all occurred at periods
when the market's expectations of future rapid de- or dis-inflation have
increased rapidly. As we noted then: without inflation break-evens dropping, the Bernanke put will not arrive; but the market in its infinitely efficient wisdom has created a self-defeating spiral of BTFD reflexive front-running on any rapid spike down in future inflation expectations - which implicitly sparks a non-dis-inflationary reaction and removes Bernanke's punchbowl for another day. This has occurred 4 times this year
- with this week's early plunge being caught by Draghi and Hilsenrath -
and with inflation break-evens almost at their highest in 10 months,
it would appear the 'desperate-not-to-miss-the-life-giving-rally'
market just removed its own blood supply.How Much More Does The Bear Market Have To Go?
The
secular bear market that the US has been caught in for a better part
of the last decade will end. Eventually. The only question is when.
Last week we reported that the bulk of market gains year to date, has been driven exclusively by PE multiple expansion,
which is to be expected: EPS forecasts for the end of 2012 are now the
lowest they have been since the beginning of the year. Yet while such
sharp, sudden and short and bear-market rallies, exclusively
on the back of the global central banks, are to be expected, the bigger
question is how much more of a secular decline in PE multiples is to
be expected before the bear market ends and a new bull market can
begin. As the following chart from Crestmont Research shows
there is quite a bit more to go, even with Fed assistance (or rather,
because of it, and its forced rejection of reaching a fair clearing
price sooner rather than later), before the bear market is officially
over. Just over 50% more. To the downside.Biggest EPS Miss Since Lehman, And This Time It's Not The Tsunami's Fault
Yes, we know it doesn't matter because Ben & Mario have got our backs at whatever multiple is required to levitate the economy
market, but as Citi's credit desk points out; despite the constant
chatter about EPS beats (despite top-line misses), the trick is that
analysts have been dragging down expectations since the earnings-cycle
began and so judging 'misses' must be done against a 'frozen' pre-earnings number. If we do this 'fair' approach to considering expectations, the percentage miss in the S&P
500's EPS for Q2 2012 is as bad as the Q2/Q3 2011 Tsunami-driven miss -
and the worst we have seen since Lehman Brothers shuffled off
this mortal coil. So as usual, be careful what truth you believe and
consider just how much more 'hope' is now in this market given this
reality.
by Karen Roche, MineWeb.com
With a perfect storm brewing on the horizon, investors should be building their cash cache and running for cover, warns Harry Dent*. Gold may peak at only $2000 and then fall,. Interview with The Gold Report
The Gold Report:
Your considerable research over many years indicates that the size and
age of its citizens drive a country’s economic growth or decline.
Because people have predictable consumption patterns throughout life,
you can predict well in advance national economic growth or decline. How
does that work?
Harry Dent: We’ve identified a peak spending wave indicator that correlates strongly with the stock market and the economy. It doesn’t apply so much to emerging countries, where we look at urbanization rates, which greatly affect incomes, and workforce growth because emerging nations don’t have a middle-class curve where typical consumers earn $60,000 a year at the peak of their careers.
Read More @ MineWeb.com
With a perfect storm brewing on the horizon, investors should be building their cash cache and running for cover, warns Harry Dent*. Gold may peak at only $2000 and then fall,. Interview with The Gold Report
The Gold Report:
Your considerable research over many years indicates that the size and
age of its citizens drive a country’s economic growth or decline.
Because people have predictable consumption patterns throughout life,
you can predict well in advance national economic growth or decline. How
does that work?Harry Dent: We’ve identified a peak spending wave indicator that correlates strongly with the stock market and the economy. It doesn’t apply so much to emerging countries, where we look at urbanization rates, which greatly affect incomes, and workforce growth because emerging nations don’t have a middle-class curve where typical consumers earn $60,000 a year at the peak of their careers.
Read More @ MineWeb.com
from 1beinki:
Dean from Midwest Rare Coins, explains to folks new to precious metal investing, why now is a good time to be purchasing and holding PHYSICAL silver.
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Dean from Midwest Rare Coins, explains to folks new to precious metal investing, why now is a good time to be purchasing and holding PHYSICAL silver.
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from BrotherJohnf:
by Kurt Nimmo and Alex Jones, Prison Planet:
Opponents arrayed against the United Nations’ anti-gun effort prematurely celebrated on Friday as the treaty stalled due to member states failing to reach an agreement on revised language in the text. The treaty went into limbo after the United States, Russia and China called for more time to consider revisions.
NGOs and gun-grabber groups portrayed the stall as “stunning cowardice” and a “staggering abdication of leadership” and attributed the supposed failure to the Obama administration. A nameless diplomat went so far as to claim the U.S. had “derailed the process” and complained that there is little hope the treaty will be revived after the U.S. election.
The U.S. State Department, however, said in a statement released at the conclusion of the negotiating conference that the effort will indeed be revived after the election in November. “While we sought to conclude the month’s negotiations with a treaty, more time is a reasonable request for such a complex and critical issue,” said State Department spokeswoman Victoria Nuland.
The extended timeframe will give Second Amendment opponents time to ramp up their propaganda campaign in favor of gun control following the suspiciously timed mass shooting in Colorado.
Read More @ PrisonPlanet.com
I guess he can't read...or he would understand what "Shall Not Be Infringed" means...
by John Aloysius Farrell, National Journal:
Justice Antonin Scalia, one of the Supreme Court’s most vocal and conservative justices, said on Sunday that the Second Amendment leaves room for U.S. legislatures to regulate guns, including menacing hand-held weapons.
“It will have to be decided in future cases,” Scalia said on Fox News Sunday. But there were legal precedents from the days of the Founding Fathers that banned frightening weapons which a constitutional originalist like himself must recognize. There were also “locational limitations” on where weapons could be carried, the justice noted.
When asked if that kind of precedent would apply to assault weapons, or 100-round ammunition magazines like those used in the recent Colorado movie theater massacre, Scalia declined to speculate. “We’ll see,” he said. ‘”It will have to be decided.”
As an originalist scholar, Scalia looks to the text of the Constitution—which confirms the right to bear arms—but also the context of 18th-century history. “They had some limitations on the nature of arms that could be borne,” he told host Chris Wallace.
Read More @ National Journal
Justice Antonin Scalia, one of the Supreme Court’s most vocal and conservative justices, said on Sunday that the Second Amendment leaves room for U.S. legislatures to regulate guns, including menacing hand-held weapons.
“It will have to be decided in future cases,” Scalia said on Fox News Sunday. But there were legal precedents from the days of the Founding Fathers that banned frightening weapons which a constitutional originalist like himself must recognize. There were also “locational limitations” on where weapons could be carried, the justice noted.
When asked if that kind of precedent would apply to assault weapons, or 100-round ammunition magazines like those used in the recent Colorado movie theater massacre, Scalia declined to speculate. “We’ll see,” he said. ‘”It will have to be decided.”
As an originalist scholar, Scalia looks to the text of the Constitution—which confirms the right to bear arms—but also the context of 18th-century history. “They had some limitations on the nature of arms that could be borne,” he told host Chris Wallace.
Read More @ National Journal
by Richard Daughty, MogamboGuru.Blogspot.ca:
Something woke me up. I don’t know what. Something, though.
But once awake, it seemed to me that it was strangely quiet. And before you ask, the answer is “Yes. It is TOO quiet,” which unfailingly means that something bad, usually something VERY bad, is just about to happen, like (as I learned from decades of watching TV) getting attacked with guns and/or arrows.
And if not the worst, then something almost as bad, because I happen to know at least the bare rudiments of the Austrian Business Cycle Theory, and I have heard of Milton Friedman, and thus I know what happens when the money supply is hyper-inflated, as has been done in the US and in EU for years and years, explaining why the Mogambo Fearfulness Meter (MFM) is redlined, with the needle pegged.
Read More @ MogamboGuru.Blogspot.ca
Something woke me up. I don’t know what. Something, though.But once awake, it seemed to me that it was strangely quiet. And before you ask, the answer is “Yes. It is TOO quiet,” which unfailingly means that something bad, usually something VERY bad, is just about to happen, like (as I learned from decades of watching TV) getting attacked with guns and/or arrows.
And if not the worst, then something almost as bad, because I happen to know at least the bare rudiments of the Austrian Business Cycle Theory, and I have heard of Milton Friedman, and thus I know what happens when the money supply is hyper-inflated, as has been done in the US and in EU for years and years, explaining why the Mogambo Fearfulness Meter (MFM) is redlined, with the needle pegged.
Read More @ MogamboGuru.Blogspot.ca
by Irving14941, Dont-Tread-On.me :
There’s an ugly truth that few people in our society are willing to admit, isn’t there?
And that truth is, America is now officially a nest full of debt stricken, junk food laden, brainwashed, mass entertained, over worked corporate slaves… consuming their life away with more debt and mass medicating the sadness of this reality with alcohol, anti-depressants, and television.
I’ll be the first to admit that I’m no angel. I have my own vices as well. I like a good beer or a good alcoholic drink and I’ll smoke a cigar once in a great while. Heck, I’ll even shed some FRNs for a good leather jacket.
Read More @ Dont-Tread-On.me
There’s an ugly truth that few people in our society are willing to admit, isn’t there?And that truth is, America is now officially a nest full of debt stricken, junk food laden, brainwashed, mass entertained, over worked corporate slaves… consuming their life away with more debt and mass medicating the sadness of this reality with alcohol, anti-depressants, and television.
I’ll be the first to admit that I’m no angel. I have my own vices as well. I like a good beer or a good alcoholic drink and I’ll smoke a cigar once in a great while. Heck, I’ll even shed some FRNs for a good leather jacket.
Read More @ Dont-Tread-On.me
by Joe Wolverton, II, The New American:
The
Ninth Circuit of Appeals ruled on July 20 that agents of the federal
government may use a cellphone as a microphone and record the
conversations overheard even when the phone itself is not being used
otherwise.
The
Ninth Circuit of Appeals ruled on July 20 that agents of the federal
government may use a cellphone as a microphone and record the
conversations overheard even when the phone itself is not being used
otherwise.
This frightening bit of judicial lawmaking came as part of the decision in the case of the United States v. Oliva, 2012 WL 2948542 (9thCir. July 20, 2012).
For
a bit of background, Oliva was convicted by a jury of drug-related
crimes involving the distribution of methamphetmaine, cocaine, and
marijuana. He appealed a decision by a district court denying his motion
to suppress evidence obtained from a series of electronic surveillance
orders authorizing interception of communications over cellular phones
associated with him and his alleged co-conspirators.
Read More @ TheNewAmerican.com
by Economic Policy Journal:
A pro-Ron Paul slate of delegates from Maine to the Republican National Convention is being challenged, reports the Boston Globe.
Peter Cianchette, a prominent Republican leader, and Janet Martens Staples, a Maine representative on the Republican National Committee, filed the challenge to 14 pro-Paul delegates and alternates on Saturday, the last day they could be challenged.
Staples told the Maine Sunday Telegram that there was no quorum at May’s Republican state convention when the delegates were elected, that illegal votes were cast and parliamentary rules were broken.
Read More @ economicpolicyjournal.com.au
A pro-Ron Paul slate of delegates from Maine to the Republican National Convention is being challenged, reports the Boston Globe. Peter Cianchette, a prominent Republican leader, and Janet Martens Staples, a Maine representative on the Republican National Committee, filed the challenge to 14 pro-Paul delegates and alternates on Saturday, the last day they could be challenged.
Staples told the Maine Sunday Telegram that there was no quorum at May’s Republican state convention when the delegates were elected, that illegal votes were cast and parliamentary rules were broken.
Read More @ economicpolicyjournal.com.au
by Saman Mohammadi, Prison Planet:
Do you remember this guy,
Jason Russell? He was the frontman for the short-lived and over-hyped
“Kony 2012″ propaganda campaign that exploited young people’s emotions
to popularize a U.S. military invasion of Uganda. After his lies were exposed
on the Internet he had a shocking meltdown in public. He ran around
naked near traffic lights, smashed his fists on the pavement, and
screamed bizarrely. The heavy spirit of Madness conquered his weak will.
The day before his freakish breakdown Russell was idolized in the mainstream press as a saint on a mission to save the children of Africa. His war propaganda documentary about the deceased CIA contractor Joseph Kony became hugely popular on Facebook and other social media outlets. But as soon as his mask came down and his craziness was captured by cameras, the media vultures forgot about his crusade and quickly moved on to the next hot story.
The new story that captured the corrupt Western media’s attention was Syria. The conflict was heating up, and the “international community” was being pressed to take action against the country. “Assad is killing his own people,” they said, without offering any evidence. “This is the next domino to fall in the Arab Spring, the rebels must be supported and Assad has to step down,” so went the propaganda. And yadda yadda. The media’s insane lies were repeated for months. Major media channels were engaged in non-stop propaganda warfare to destroy the independent Syrian state and reduce Syrians to slavery.
Read More @ PrisonPlanet.com
GATA, SHAKA ZULU, And The Coming Gold/Silver STORM!
Of all expenses people can control, perhaps the one with the biggest
variation (percentage-wise) is food budgets. If you eat out all the
time, these costs can be enormous. Or, at home, they can be modest – and
with some gardening they can be very low.
The problem with budgeting, though, is it is no fun whatsoever. You get so many dollars set aside for eating, and that’s it.
So instead of such a dreary approach to food budgeting, George has been noodling some more interesting ways to make ends meet. How about eight simple budgeting strategies?
Zero dollar days: This idea occurred to me because on our recent adventuring around the country I was keeping track of our expenses every single day. As a result, I looked at our bank card and checking accounts every day online. What quickly became apparent was the fact that we had a fair number of “zero dollar days” – that is, days when nothing came out of checking or went on the credit card.
Read More @ Activist Post
Jim Sinclair’s Commentary
Chinese destroyer enters Mediterranean via Suez
Warship crosses through Suez Canal into Mediterranean Sea, possibly en route to Syrian coast for naval maneuvers Roi Kais
Published: 07.29.12, 19:07
A Chinese destroyer sailed through Egypt’s Suez Canal into the Mediterranean Sea, Egyptian daily Al-Shuruk reported on Sunday.
The destroyer could be on its way to the Syrian coast, the Egyptian newspaper reported, adding that the warship is planning to hold naval maneuvers in the area.
Al Shuruk daily further claimed that the canal authority authorized the Chinese ship’s crossing through the canal following permission from the Egyptian armed forces.
Meanwhile, Egypt’s Al-Wafd website reported that high security measures were taken during the ship’s crossing of the canal.
Beijing, an ally of Syria, has repeatedly blocked Western-backed Security Council attempts to increase pressure on Syrian President Bashar Assad to end the violence sparked by a government crackdown on pro-democracy protesters.
Last month reports claiming that the armies of Iran, China, Russia and Syria are planning to hold naval maneuvers in the Mediterranean Sea were circling the media outlets. According to the report, 90,000 soldiers from the four countries will take part in the large-scale maritime war games, which will be held off the Syrian coastline.
More…
Hi Jim,
Here’s a new twist on the MF Global scandal you may not have seen before, but I doubt that you’ll find it very surprising!
Best regards,
CIGA Black Swan
The Justice Department’s MF Global Scandal Dates to 1932 By Jonathan Weil Jul 27, 2012
There’s an old saying in journalism that there are no new stories, only new reporters. The revelation that U.S. Attorney General Eric Holder’s old law firm used to represent the bankrupt brokerage firm MF Global Holdings is a great example.
Here’s the lead paragraph from an article yesterday on the right-leaning news website Breitbart.com, which was following up on an op-ed in the Washington Times:
"Those wondering why the Department of Justice has refused to go after Jon Corzine for the vaporization of $1.6 billion in MF Global client funds need look no further than the documents uncovered by the Government Accountability Institute that reveal that the now-defunct MF Global was a client of Attorney General Eric Holder and Assistant Attorney General Lanny Breuer’s former law firm, Covington & Burling."
It’s great fodder for the scandal mill. It’s also not a surprise. Covington & Burling, a powerhouse Washington law firm that was founded in 1919 by former Representative James Harry Covington, in recent years has represented JPMorgan Chase, Wells Fargo, Citigroup, Bank of America, Morgan Stanley, Goldman Sachs and UBS, to name a few. It would have been more surprising if the firm had never represented MF Global. Corzine, for anyone who hasn’t been paying attention, is the former New Jersey governor who was MF’s chief executive when it collapsed.
More…
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Do you remember this guy,
Jason Russell? He was the frontman for the short-lived and over-hyped
“Kony 2012″ propaganda campaign that exploited young people’s emotions
to popularize a U.S. military invasion of Uganda. After his lies were exposed
on the Internet he had a shocking meltdown in public. He ran around
naked near traffic lights, smashed his fists on the pavement, and
screamed bizarrely. The heavy spirit of Madness conquered his weak will.The day before his freakish breakdown Russell was idolized in the mainstream press as a saint on a mission to save the children of Africa. His war propaganda documentary about the deceased CIA contractor Joseph Kony became hugely popular on Facebook and other social media outlets. But as soon as his mask came down and his craziness was captured by cameras, the media vultures forgot about his crusade and quickly moved on to the next hot story.
The new story that captured the corrupt Western media’s attention was Syria. The conflict was heating up, and the “international community” was being pressed to take action against the country. “Assad is killing his own people,” they said, without offering any evidence. “This is the next domino to fall in the Arab Spring, the rebels must be supported and Assad has to step down,” so went the propaganda. And yadda yadda. The media’s insane lies were repeated for months. Major media channels were engaged in non-stop propaganda warfare to destroy the independent Syrian state and reduce Syrians to slavery.
Read More @ PrisonPlanet.com
GATA, SHAKA ZULU, And The Coming Gold/Silver STORM!
by George Ure and Gaye Levy, Activist Post
Of all expenses people can control, perhaps the one with the biggest
variation (percentage-wise) is food budgets. If you eat out all the
time, these costs can be enormous. Or, at home, they can be modest – and
with some gardening they can be very low.The problem with budgeting, though, is it is no fun whatsoever. You get so many dollars set aside for eating, and that’s it.
So instead of such a dreary approach to food budgeting, George has been noodling some more interesting ways to make ends meet. How about eight simple budgeting strategies?
Zero dollar days: This idea occurred to me because on our recent adventuring around the country I was keeping track of our expenses every single day. As a result, I looked at our bank card and checking accounts every day online. What quickly became apparent was the fact that we had a fair number of “zero dollar days” – that is, days when nothing came out of checking or went on the credit card.
Read More @ Activist Post
Jim Sinclair’s Commentary
Syria becomes pivotal in the future of the Middle east.
Chinese destroyer enters Mediterranean via Suez
Warship crosses through Suez Canal into Mediterranean Sea, possibly en route to Syrian coast for naval maneuvers Roi Kais
Published: 07.29.12, 19:07
A Chinese destroyer sailed through Egypt’s Suez Canal into the Mediterranean Sea, Egyptian daily Al-Shuruk reported on Sunday.
The destroyer could be on its way to the Syrian coast, the Egyptian newspaper reported, adding that the warship is planning to hold naval maneuvers in the area.
Al Shuruk daily further claimed that the canal authority authorized the Chinese ship’s crossing through the canal following permission from the Egyptian armed forces.
Meanwhile, Egypt’s Al-Wafd website reported that high security measures were taken during the ship’s crossing of the canal.
Beijing, an ally of Syria, has repeatedly blocked Western-backed Security Council attempts to increase pressure on Syrian President Bashar Assad to end the violence sparked by a government crackdown on pro-democracy protesters.
Last month reports claiming that the armies of Iran, China, Russia and Syria are planning to hold naval maneuvers in the Mediterranean Sea were circling the media outlets. According to the report, 90,000 soldiers from the four countries will take part in the large-scale maritime war games, which will be held off the Syrian coastline.
More…
Hi Jim,
Here’s a new twist on the MF Global scandal you may not have seen before, but I doubt that you’ll find it very surprising!
Best regards,
CIGA Black Swan
The Justice Department’s MF Global Scandal Dates to 1932 By Jonathan Weil Jul 27, 2012
There’s an old saying in journalism that there are no new stories, only new reporters. The revelation that U.S. Attorney General Eric Holder’s old law firm used to represent the bankrupt brokerage firm MF Global Holdings is a great example.
Here’s the lead paragraph from an article yesterday on the right-leaning news website Breitbart.com, which was following up on an op-ed in the Washington Times:
"Those wondering why the Department of Justice has refused to go after Jon Corzine for the vaporization of $1.6 billion in MF Global client funds need look no further than the documents uncovered by the Government Accountability Institute that reveal that the now-defunct MF Global was a client of Attorney General Eric Holder and Assistant Attorney General Lanny Breuer’s former law firm, Covington & Burling."
It’s great fodder for the scandal mill. It’s also not a surprise. Covington & Burling, a powerhouse Washington law firm that was founded in 1919 by former Representative James Harry Covington, in recent years has represented JPMorgan Chase, Wells Fargo, Citigroup, Bank of America, Morgan Stanley, Goldman Sachs and UBS, to name a few. It would have been more surprising if the firm had never represented MF Global. Corzine, for anyone who hasn’t been paying attention, is the former New Jersey governor who was MF’s chief executive when it collapsed.
More…
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