from Worldeconomic collapse:
During
an economic boom, exuberance finds itself lodged in all types of
industries. When profits soar, so does the public’s disregard for
prudence. And as tax revenues rise, politicians can’t help but give in to their bread and butter of buying votes.
In the case of a credit-expansion boom fueled primarily by fractional
reserve banking and interest rate manipulation through a central bank,
the boom conditions are destined toward bust. Liquidation then becomes necessary as the bust gets underway and malinvestments come to light.
What the city of Scranton has in common with San Bernardino, Detroit,
et al. is that its dire fiscal condition is due to one thing and one
thing only: benefits promised to unionized workers,
and, it appears, "the salad days of the government employee are coming
to an end, as they have already in Greece, Italy and Spain." To those
sick and tired of the tax-eater mentality that is destroying the very
core of society’s productive capacity and moral base, those days can’t
come soon enough.
The Fed is the biggest rate manipulator in the history of the world...
When
it comes to estimating the biggest threat to the global financial
system, by far the biggest threat and biggest unknown is the total Financial
debt in the system, for the simple reason that as we have been showing
for over two years, it is simply impossible to quantify just what the real level of
such debt in the developed world truly is, especially when one
accounts for shadow liabilities, rehypothecated collateral,
derivatives, and all those other footnotes in financial statements that
only become relevant when daisy-chained collateral links start
collapsing following the default of one or more financial entities, and
when gross becomes net. What we can, however, do is show the other
three major categories of debt currently existing in the system:
Government, Corporate and Household debt, as they are distributed among
the "developed" countries. We also know what the tresholds are beyond
which the debt becomes unstustainable. In the words of the BIS: "For government debt, the threshold is around 85% of GDP... When corporate debt goes beyond 90% of GDP, it becomes a drag on growth. And for household debt, we report a threshold around 85% of GDP, although the impact is very imprecisely estimated."
Despite the 'idiosyncratic' stresses in California (and elsewhere) the reach-for-'safe'-yield has maintained a strong bid for Munis in the last few weeks
(on both a spread and yield basis). As Citi's George Friedlander notes,
the last week alone saw 15-20bps compression in the mid- to long-end
of the Muni curve - notably outperforming the longer-end of the
Treasury curve. New issues have been oversubscribed and snapped as much
as 20bps on the break. The reason is simple - 'all-time record' total redemptions (maturing and called bonds)
- which left net issuance negative and a strong tendency for certain
types of investors to put cash back to work as soon as it is received.
However, this flood of 'technical' liquidity from reinvestment faces a rather sudden cliff
around the start of August when expected net issuance will turn
aggressively positive relative to redemptions. Given the constant
refinancings and a lack of maturing reinvestment, Freiedlander expects "the
muni market to struggle to absorb [the heavy calendar] after August 1 -
and slightly earlier if participants begin to discount this shift", which will only push refinancing costs higher for issuers coming to market.
Web sites like SHTFplan.com, Zero Hedge, SGTreport and (ed note WeTheSheeplez) have been warning about and documenting the collapse of U.S. finances and the broader fabric of American society for quite some time now.
In fact, this recent report from Economic Collapse Blog titled These 12 Hellholes Are Examples Of What The Rest Of America Will Look Like Soon, again warned us about horors which have already unfolded in major cities across America. Unfortunately, despite a fairly comprehensive list of examples, none of the 12 Hellholes sited in the article included Jacksonville Florida, home to the latest pathetic example of The Madness of Our Lost Society.
According to press reports, the Wal-Mart near Lem Turner Road in Jacksonville was unexpected host to a “flash robbery” earlier this week, when more than 300 people mobbed the big box store, destroyed the store security system, and destroyed and looted merchandise. Punchline: NO arrests were made.
Government Employees, Unions, And Bankruptcy
During
an economic boom, exuberance finds itself lodged in all types of
industries. When profits soar, so does the public’s disregard for
prudence. And as tax revenues rise, politicians can’t help but give in to their bread and butter of buying votes.
In the case of a credit-expansion boom fueled primarily by fractional
reserve banking and interest rate manipulation through a central bank,
the boom conditions are destined toward bust. Liquidation then becomes necessary as the bust gets underway and malinvestments come to light.
What the city of Scranton has in common with San Bernardino, Detroit,
et al. is that its dire fiscal condition is due to one thing and one
thing only: benefits promised to unionized workers,
and, it appears, "the salad days of the government employee are coming
to an end, as they have already in Greece, Italy and Spain." To those
sick and tired of the tax-eater mentality that is destroying the very
core of society’s productive capacity and moral base, those days can’t
come soon enough.The Fed is the biggest rate manipulator in the history of the world...
by Jeff Mackie, Finance.Yahoo.com:
According to CEO and Chief Global Strategist of Euro Pacific Capital Peter Schiff, the U.S. economy is heading for an economic crash that will make 2008 look like a walk in the park. Stimulus programs can delay this day of reckoning, but only for so long and only at the expense of making the eventual meltdown much, much worse.
Schiff, who famously warned investors about the housing and financial crisis in his 2007 book Crash Proof, says the Fed’s palliative efforts during the housing meltdown have made the next crisis inevitable.
Read More @ Finance.Yahoo.com
Bank of England head says banks must change culture … Sir Mervyn King:
“Something went very wrong with the UK banking industry and we need to
put it right.” Bank of England governor Sir Mervyn King has called for a
change in the banking culture, saying that customers have received
“shoddy” treatment. He added that bank leaders had “let down” the many
honest and hard working
people in the financial sector. Sir Mervyn’s comments come on the day
banks were found to have mis-sold financial products to small
businesses. – BBC
Dominant Social Theme: These banks are corrupt and the Bank of England has to do something about it.
Free-Market Analysis: We’ve been tracking this dominant social theme for more than a year now. The elites that want to run the world are focusing clearly on a replay of 1930s Pecora Hearings that gave us public markets, “self-regulatory” organizations and the SEC, CFTC, etc. For some of our articles on the subject, just search the ‘Net using “Daily Bell” and “Pecora.”
None of the “reforms” initiated by the Pecora Hearings did a thing to clean up an increasingly centralized and corrupt financial services industry. The Depression itself – which eventually went worldwide – was initiated by reckless overprinting of money by the newly founded US Federal Reserve.
Read More @ TheDailyBell.com
According to CEO and Chief Global Strategist of Euro Pacific Capital Peter Schiff, the U.S. economy is heading for an economic crash that will make 2008 look like a walk in the park. Stimulus programs can delay this day of reckoning, but only for so long and only at the expense of making the eventual meltdown much, much worse.
Schiff, who famously warned investors about the housing and financial crisis in his 2007 book Crash Proof, says the Fed’s palliative efforts during the housing meltdown have made the next crisis inevitable.
Read More @ Finance.Yahoo.com
by The Daily Bell:
Bank of England head says banks must change culture … Sir Mervyn King:
“Something went very wrong with the UK banking industry and we need to
put it right.” Bank of England governor Sir Mervyn King has called for a
change in the banking culture, saying that customers have received
“shoddy” treatment. He added that bank leaders had “let down” the many
honest and hard working
people in the financial sector. Sir Mervyn’s comments come on the day
banks were found to have mis-sold financial products to small
businesses. – BBCDominant Social Theme: These banks are corrupt and the Bank of England has to do something about it.
Free-Market Analysis: We’ve been tracking this dominant social theme for more than a year now. The elites that want to run the world are focusing clearly on a replay of 1930s Pecora Hearings that gave us public markets, “self-regulatory” organizations and the SEC, CFTC, etc. For some of our articles on the subject, just search the ‘Net using “Daily Bell” and “Pecora.”
None of the “reforms” initiated by the Pecora Hearings did a thing to clean up an increasingly centralized and corrupt financial services industry. The Depression itself – which eventually went worldwide – was initiated by reckless overprinting of money by the newly founded US Federal Reserve.
Read More @ TheDailyBell.com
by Justin Menza, CNBC:
The U.S. needs to pay down its debt, and that won’t happen if Federal Reserve Chairman Ben Bernanke “goes wild” with more stimulus, Donald Trump told CNBC’s “Squawk Box” on Tuesday.
“The fact is that the country owes $16 trillion, and we just can’t keep doing this,” Trump said. “The dollar is going to go to hell.”
Trump said the artificial Fed stimulus has done nothing, and the only way to get the country back on track is to start paying down debt. Click HERE to watch & listen to the Donald bloviate.
Read More @ CNBC
The U.S. needs to pay down its debt, and that won’t happen if Federal Reserve Chairman Ben Bernanke “goes wild” with more stimulus, Donald Trump told CNBC’s “Squawk Box” on Tuesday. “The fact is that the country owes $16 trillion, and we just can’t keep doing this,” Trump said. “The dollar is going to go to hell.”
Trump said the artificial Fed stimulus has done nothing, and the only way to get the country back on track is to start paying down debt. Click HERE to watch & listen to the Donald bloviate.
Read More @ CNBC
Pick Your Debt Poison
When
it comes to estimating the biggest threat to the global financial
system, by far the biggest threat and biggest unknown is the total Financial
debt in the system, for the simple reason that as we have been showing
for over two years, it is simply impossible to quantify just what the real level of
such debt in the developed world truly is, especially when one
accounts for shadow liabilities, rehypothecated collateral,
derivatives, and all those other footnotes in financial statements that
only become relevant when daisy-chained collateral links start
collapsing following the default of one or more financial entities, and
when gross becomes net. What we can, however, do is show the other
three major categories of debt currently existing in the system:
Government, Corporate and Household debt, as they are distributed among
the "developed" countries. We also know what the tresholds are beyond
which the debt becomes unstustainable. In the words of the BIS: "For government debt, the threshold is around 85% of GDP... When corporate debt goes beyond 90% of GDP, it becomes a drag on growth. And for household debt, we report a threshold around 85% of GDP, although the impact is very imprecisely estimated."Why I Still Fear Inflation
The Fed is caught between a rock and a hard place. If they inflate, they risk the danger of initiating a damaging and deleterious trade war with creditors who do not want to take an inflationary haircut. If they don’t inflate, they remain stuck in a deleveraging trap resulting in weak fundamentals, and large increases in government debt, also rattling creditors. The likeliest route from here remains that the Fed will continue to baffle the Krugmanites by pursuing relatively restrained inflationism (i.e. Operation Twist, restrained QE, no NGDP targeting, no debt jubilee, etc) to keep the economy ticking along while minimising creditor irritation. The problem with this is that the economy remains caught in the deleveraging trap. And while the economy is depressed tax revenues remain depressed, meaning that deficits will grow, further irritating creditors (who unlike bond-flipping hedge funds must eat the very low yields instead of passing off treasuries to a greater fool for a profit), who may pursue trade war and currency war strategies and gradually (or suddenly) desert US treasuries and dollars. Geopolitical tension would spike commodity prices. And as more dollars end up back in the United States (there are currently $5+ trillion floating around Asia), there will be more inflation still. The reduced global demand for dollar-denominated assets would put pressure on the Fed to print to buy more treasuries.Citi, Bank Of America, And JPMorgan Enter Lieborgate: Congress Expands Libor Probe To Big Three Domestic Banks
When the Fed released its "trove" of materials confirming that the Fed indeed knew that the Barclays was manipulating its Libor submissions (amusingly explained by Ben Bernanke before Senate today that "the employee had no idea what Libor is in that case"), few were surprised, but more were confused why the congressional inquiry focused solely on the Fed's interactions with British Barclays, instead of focusing on the three domestic banks that were part of the BBA's USD Libor fixing committee.Sure enough, the 3 US banks on the USD Libor fixing committee were just dragged into the fray: "Representative Randy Neugebauer, a Texas Republican and chairman of the oversight and investigations panel of the U.S. House Financial Services Committee said he intends to request correspondence between the Fed and the three U.S. banks on the Libor-setting panel, JPMorgan Chase & Co. (JPM), Citigroup Inc. (C) and Bank of America Corp., according to a congressional aide, who spoke on condition of anonymity because the details were not yet public."Munis Set To Shift From Feast To Famine In August
Despite the 'idiosyncratic' stresses in California (and elsewhere) the reach-for-'safe'-yield has maintained a strong bid for Munis in the last few weeks
(on both a spread and yield basis). As Citi's George Friedlander notes,
the last week alone saw 15-20bps compression in the mid- to long-end
of the Muni curve - notably outperforming the longer-end of the
Treasury curve. New issues have been oversubscribed and snapped as much
as 20bps on the break. The reason is simple - 'all-time record' total redemptions (maturing and called bonds)
- which left net issuance negative and a strong tendency for certain
types of investors to put cash back to work as soon as it is received.
However, this flood of 'technical' liquidity from reinvestment faces a rather sudden cliff
around the start of August when expected net issuance will turn
aggressively positive relative to redemptions. Given the constant
refinancings and a lack of maturing reinvestment, Freiedlander expects "the
muni market to struggle to absorb [the heavy calendar] after August 1 -
and slightly earlier if participants begin to discount this shift", which will only push refinancing costs higher for issuers coming to market.Web sites like SHTFplan.com, Zero Hedge, SGTreport and (ed note WeTheSheeplez) have been warning about and documenting the collapse of U.S. finances and the broader fabric of American society for quite some time now.
In fact, this recent report from Economic Collapse Blog titled These 12 Hellholes Are Examples Of What The Rest Of America Will Look Like Soon, again warned us about horors which have already unfolded in major cities across America. Unfortunately, despite a fairly comprehensive list of examples, none of the 12 Hellholes sited in the article included Jacksonville Florida, home to the latest pathetic example of The Madness of Our Lost Society.
According to press reports, the Wal-Mart near Lem Turner Road in Jacksonville was unexpected host to a “flash robbery” earlier this week, when more than 300 people mobbed the big box store, destroyed the store security system, and destroyed and looted merchandise. Punchline: NO arrests were made.
Destructive Flash Mob at Walmart in Jacksonville Florida on Video!
THE MADNESS OF A LOST SOCIETY
We The Sheeplez... is intended to reflect
excellence in effort and content. Donations will help maintain this goal
and defray the operational costs. Paypal, a leading provider of secure
online money transfers, will handle the donations. Thank you for your
contribution.
I'm PayPal Verified
We The Sheeplez... is intended to reflect
excellence in effort and content. Donations will help maintain this goal
and defray the operational costs. Paypal, a leading provider of secure
online money transfers, will handle the donations. Thank you for your
contribution.
from KingWorldNews:
Today Jeffrey Saut told King World News that “the world is in its 3rd ‘Super Cycle of the past 200 years.” Saut, who is Chief Investment Strategist for $360 billion strongRaymond James, also said, “China has bitten the bullet and they are getting ready to accelerate again.”
Saut also spoke with KWN about Europe, Japan and gold, but first, here is what Saut had to say about what he calls “the 3rd Super Cycle”: “China will be incredibly important going forward in the global economy. They are a key in terms of the world’s growth cycle. I think the world is in its 3rd ‘Super Cycle of the past 200 years.’ The world’s GDP growth accelerated with the Industrial Revolution, from 1.7% to 2.7% per year.”
Jeffrey Saut continues @ KingWorldNews.com
Today Jeffrey Saut told King World News that “the world is in its 3rd ‘Super Cycle of the past 200 years.” Saut, who is Chief Investment Strategist for $360 billion strongRaymond James, also said, “China has bitten the bullet and they are getting ready to accelerate again.”
Saut also spoke with KWN about Europe, Japan and gold, but first, here is what Saut had to say about what he calls “the 3rd Super Cycle”: “China will be incredibly important going forward in the global economy. They are a key in terms of the world’s growth cycle. I think the world is in its 3rd ‘Super Cycle of the past 200 years.’ The world’s GDP growth accelerated with the Industrial Revolution, from 1.7% to 2.7% per year.”
Jeffrey Saut continues @ KingWorldNews.com
from Silver Doctors:
The CFTC’s Gary Gensler (who should have been immediately fired for
signing off on PFG’s finances/audit in January) testified before the US
Senate Committee on Agriculture today regarding Barclay’s LIBOR
manipulation rate scandal and the segregated client funds theft at PFG.
Highlights of Gensler’s testimony:
Highlights of Gensler’s testimony:
- CFTC initiated a review of LIBOR submissions in April of 2008 (and it took you 4.5 years to find a single culprit!?!)
- Barclays regularly and pervasively submitted false benchmark rates to benefit the banks derivatives as well as LIBOR submissions (and JP Morgan, BOA, and Goldman didn’t Mr. Gensler!?!?!)
- CFTC moved quickly to file a complaint against PFG’s Wasendorf (oh really…$200 million in segregated client funds were missing for 20 years! Do we have another 16 years to go before the CFTC rules on silver manipulation…the day after JP Morgan openly admits to the fact??)
-
The system failed to protect the customers of Peregrine. Market regulators cannot prevent all financial fraud‘ (What pray tell, financial fraud has the CFTC or the SEC EVER PREVENTED Mr. Gensler!?!)
Read More @ SilverDoctors.com
by Michael Pettis, Financial Sense:
Last night I arrived at my family’s home in Spain just in time to catch
Spain play Italy. The whole family and lots of friends watched it,
while feeding on great seafood and lots of wine, at a neighboring chiringuito
on the beach, and I guess if you weren’t there you can only imagine the
excitement. I suppose this spectacular win by Spain means that Spain
will be able to stay in the euro a little longer than I otherwise
expected, although I am not so sure about Italy.
It would make sense for me to start off with some foot-ball related comments, but instead most of the this issue of the newsletter will attempt to describe the way pro-cyclical behavior can be embedded into balance sheets, and how this can create significant risk for developing countries especially. Because most analysts do not seem to understand balance sheet dynamics, it is worth pointing out that the more pro-cyclical the balance sheet, the much more widely off-the-mark projections are going to be – both on the way up and on the way down.
To start off, in mid-June, just a couple of days before the Spanish treasury raised 2.2 billion in an auction – one in which the cost of borrowing surged, with 10-year bonds breaking 7% – France’s new president complained about the unfairness of the financial markets. According to an article two weeks ago the Financial Times,
Read More @ Financial Sense.com
Last night I arrived at my family’s home in Spain just in time to catch
Spain play Italy. The whole family and lots of friends watched it,
while feeding on great seafood and lots of wine, at a neighboring chiringuito
on the beach, and I guess if you weren’t there you can only imagine the
excitement. I suppose this spectacular win by Spain means that Spain
will be able to stay in the euro a little longer than I otherwise
expected, although I am not so sure about Italy.It would make sense for me to start off with some foot-ball related comments, but instead most of the this issue of the newsletter will attempt to describe the way pro-cyclical behavior can be embedded into balance sheets, and how this can create significant risk for developing countries especially. Because most analysts do not seem to understand balance sheet dynamics, it is worth pointing out that the more pro-cyclical the balance sheet, the much more widely off-the-mark projections are going to be – both on the way up and on the way down.
To start off, in mid-June, just a couple of days before the Spanish treasury raised 2.2 billion in an auction – one in which the cost of borrowing surged, with 10-year bonds breaking 7% – France’s new president complained about the unfairness of the financial markets. According to an article two weeks ago the Financial Times,
Read More @ Financial Sense.com
from KitcoNews:
The amount of new gold discovered has not kept up with the current pace of mine output, as the easy-to-reach gold deposits are being depleted, said a mining consultancy group on Tuesday.
From 1997-2011, there have been 99 discoveries of gold deposits containing at least 2 million ounces of the metal, totaling 743 million ounces of gold in reserves, resources and past production as of the end of 2011, said the Metals Economics Group in a research report.
“Assuming a 75% resource-conversion rate and a 90% recovery rate during production, these 99 discoveries could potentially replace only 56% of the estimated gold mined during the same period, if they are economical to mine,” they said in their report,
Read More @ KitcoNews
The amount of new gold discovered has not kept up with the current pace of mine output, as the easy-to-reach gold deposits are being depleted, said a mining consultancy group on Tuesday.From 1997-2011, there have been 99 discoveries of gold deposits containing at least 2 million ounces of the metal, totaling 743 million ounces of gold in reserves, resources and past production as of the end of 2011, said the Metals Economics Group in a research report.
“Assuming a 75% resource-conversion rate and a 90% recovery rate during production, these 99 discoveries could potentially replace only 56% of the estimated gold mined during the same period, if they are economical to mine,” they said in their report,
Read More @ KitcoNews
by Activist Post
Google will meet this Wednesday with the Council on Foreign Relations
to discuss ways that they can use their dominant search engine to
penetrate and disrupt international crime.
The intention of the meeting is to find ways Google can monitor the back doors of “international gangs of terrorists, drug dealers and human traffickers” in order to “break into” them.
Pomona College professor, Pardis Mahdavi, who works with Google said “We all know that bad guys use the Internet, but now we’re saying the Internet can also help stop these criminals, and help survivors and advocates find each other and work together.”
Read More @ Activist Post
Google will meet this Wednesday with the Council on Foreign Relations
to discuss ways that they can use their dominant search engine to
penetrate and disrupt international crime.The intention of the meeting is to find ways Google can monitor the back doors of “international gangs of terrorists, drug dealers and human traffickers” in order to “break into” them.
Pomona College professor, Pardis Mahdavi, who works with Google said “We all know that bad guys use the Internet, but now we’re saying the Internet can also help stop these criminals, and help survivors and advocates find each other and work together.”
Read More @ Activist Post
by Susanne Posel, Occupy Corporatism:
At the 2012 UN Earth Summit for Sustainable Development Rio+20 there was an initiative
to offer “many great opportunities for people from all over the world
to come together, build bridges, and draft a common path upon which all
residents of this breathtakingly beautiful planet we call home can
journey towards a sustainable and equitable future.” This ideal would be
brought to life in the plans of Agenda 21 Ecocities.
The blueprint for “a prosperous, secure and sustainable future for people and planet” where Agenda 21 comes to life under the directives of the UN and with the cooperation of the world’s governments, non-governmental organizations (NGOs) and private-sector corporations.
The Ecocity Builders is a non-profit organization which is a collaboration of international networks of associates that influence and actively participate in local city planning projects all across the US. Through training courses, they advocate the ecocity approach as the only way to continue in civilized society.
Read More @ OccupyCorporatism.com
At the 2012 UN Earth Summit for Sustainable Development Rio+20 there was an initiative
to offer “many great opportunities for people from all over the world
to come together, build bridges, and draft a common path upon which all
residents of this breathtakingly beautiful planet we call home can
journey towards a sustainable and equitable future.” This ideal would be
brought to life in the plans of Agenda 21 Ecocities.The blueprint for “a prosperous, secure and sustainable future for people and planet” where Agenda 21 comes to life under the directives of the UN and with the cooperation of the world’s governments, non-governmental organizations (NGOs) and private-sector corporations.
The Ecocity Builders is a non-profit organization which is a collaboration of international networks of associates that influence and actively participate in local city planning projects all across the US. Through training courses, they advocate the ecocity approach as the only way to continue in civilized society.
Read More @ OccupyCorporatism.com
byThe Daily Bell:
YouTube
Now Key Source for News Junkies: Pew … Since its online debut in early
2005, YouTube continues to grow as a news outlet for people who are
expanding the ways in which they consume news coverage, according to a
new study
from the Pew Research Center’s Project for Excellence in Journalism.
And as that happens, YouTube is creating “a new kind of visual
journalism” that is sometimes blurring the line between content created
by official news organizations, “citizen journalists” or others,
according to Pew. Ultimately, while this means that more people are
being exposed to news of world events, it’s also raising questions about
whether those video reports are always receiving the proper attribution
and context that they should have, according to the study. – eWeek
Dominant Social Theme: Wow, the electronic revolution is definitely making advances. CBS, ABC and NBC are all making advances on YouTube.
Free-Market Analysis: So Pew has discovered YouTube news. This means two things. One, the quality of honest news is going down on YouTube. Two, mainstream news is now becoming popular enough on YouTube for Pew to mention it.
Pew was founded by oil company heirs but like almost all philanthropic organizaions, it’s become increasingly socialist in its stance and mission. Wikipedia tells us the following:
Read More @ TheDailyBell.com
YouTube
Now Key Source for News Junkies: Pew … Since its online debut in early
2005, YouTube continues to grow as a news outlet for people who are
expanding the ways in which they consume news coverage, according to a
new study
from the Pew Research Center’s Project for Excellence in Journalism.
And as that happens, YouTube is creating “a new kind of visual
journalism” that is sometimes blurring the line between content created
by official news organizations, “citizen journalists” or others,
according to Pew. Ultimately, while this means that more people are
being exposed to news of world events, it’s also raising questions about
whether those video reports are always receiving the proper attribution
and context that they should have, according to the study. – eWeekDominant Social Theme: Wow, the electronic revolution is definitely making advances. CBS, ABC and NBC are all making advances on YouTube.
Free-Market Analysis: So Pew has discovered YouTube news. This means two things. One, the quality of honest news is going down on YouTube. Two, mainstream news is now becoming popular enough on YouTube for Pew to mention it.
Pew was founded by oil company heirs but like almost all philanthropic organizaions, it’s become increasingly socialist in its stance and mission. Wikipedia tells us the following:
Read More @ TheDailyBell.com
by Gary North, Whiskey and Gunpowder:
Americans
are learning how to beat the system, cheat the system, and outfox the
system. As the bureaucrats tighten their many nooses, Americans are
finding ways to slip the noose.
An article in Forbes offers examples. They are everywhere. Businesses are just ignoring the rules. They hire lawyers to help them avoid the law. They are fed up with the federal squid. They are not cooperating.
This is significant for the future. The heart of every legal system is legitimacy. If the government – family, church, or civil – is viewed as legitimate, people who are under its jurisdiction cooperate. They add self-government to external systems of sanctions. If they refuse to do this, the government’s enforcement system cannot force them to obey consistently. The system does not have enough resources to enforce compliance.
Read More @ WhiskeyAndGunpowder.com
from TruthNeverTold :
Americans
are learning how to beat the system, cheat the system, and outfox the
system. As the bureaucrats tighten their many nooses, Americans are
finding ways to slip the noose.An article in Forbes offers examples. They are everywhere. Businesses are just ignoring the rules. They hire lawyers to help them avoid the law. They are fed up with the federal squid. They are not cooperating.
This is significant for the future. The heart of every legal system is legitimacy. If the government – family, church, or civil – is viewed as legitimate, people who are under its jurisdiction cooperate. They add self-government to external systems of sanctions. If they refuse to do this, the government’s enforcement system cannot force them to obey consistently. The system does not have enough resources to enforce compliance.
Read More @ WhiskeyAndGunpowder.com
from TruthNeverTold :
by Louis Golino, CoinWeek.com:
Traditionally
the notion of some new kind of gold standard is an idea that has
appealed mainly to conservatives concerned about having a sound currency
that does not lose its value over time to inflation.
It was not long ago that any discussion of a new gold standard was considered kooky by most economists, and that is still largely the case, as seen, for example, in the views of prominent economist Nouriel Roubini, who famously predicted 2008 economic crisis. Mr. Roubini, who is also known as Dr. Doom for his pessimistic perspective, strongly opposes any notion of a new gold-backed currency.
Read More @ CoinWeek.com
Traditionally
the notion of some new kind of gold standard is an idea that has
appealed mainly to conservatives concerned about having a sound currency
that does not lose its value over time to inflation.It was not long ago that any discussion of a new gold standard was considered kooky by most economists, and that is still largely the case, as seen, for example, in the views of prominent economist Nouriel Roubini, who famously predicted 2008 economic crisis. Mr. Roubini, who is also known as Dr. Doom for his pessimistic perspective, strongly opposes any notion of a new gold-backed currency.
Read More @ CoinWeek.com
from Gold Money:
Conventional techniques for precious metal quality assessment
Historically, inspection of gold quality has mostly involved chemical analysis to determine purity, using techniques such as fire assay[1]. But as this is a wholly destructive technique, there are obvious disadvantages. More recently minimally or non-destructive techniques such as mass spectrometry [1] or X-ray fluorescence [2,3], and even low temperature photoluminescence [4] have been used. These approaches may also be applied to other precious metals such as silver and platinum.
These can provide relatively rapid inspection with negligible damage to the material, because they probe only the outer surface and rely on the assumption that the material is homogeneous. The problem here is that large regions of impurity – even a completely different metal – will be undetected by these techniques providing the outer layer is of pure metal.
Read More @ GoldMoney.com
Conventional techniques for precious metal quality assessmentHistorically, inspection of gold quality has mostly involved chemical analysis to determine purity, using techniques such as fire assay[1]. But as this is a wholly destructive technique, there are obvious disadvantages. More recently minimally or non-destructive techniques such as mass spectrometry [1] or X-ray fluorescence [2,3], and even low temperature photoluminescence [4] have been used. These approaches may also be applied to other precious metals such as silver and platinum.
These can provide relatively rapid inspection with negligible damage to the material, because they probe only the outer surface and rely on the assumption that the material is homogeneous. The problem here is that large regions of impurity – even a completely different metal – will be undetected by these techniques providing the outer layer is of pure metal.
Read More @ GoldMoney.com
by Eric Peters, SHTFPlan:
Having a generator for back-up power is great – unless you don’t have
the fuel to run the generator. The irony of the portable back-up
generator – most of them, at least – is that they run on gas. And what’s
the item that’s usually hard to get when the power’s down?
Gas.
About two weeks ago, a violent storm line called a derecho passed through our area; thousands of people lost power – not for a few hours, but in some cases, for a week or more. The lines queued up real fast at local gas stations – the ones with still-operable pumps, anyhow. You could not even buy a portable five gallon (or 1 gallon) gas jug at any Lowes or Home Depot in the area.
Read More @ SHTFPlan.com
from Matlarson10:
In testimony before the Senate’s Permanent Subcommittee on
Investigations, David Bagley, a compliance officer for HSBC Holdings,
said the bank ignored “warning signs that violent drug gangs in Mexico,
suspected terrorist financiers in the Middle East, and other rogue
characters and enemy states may have been moving billions of dollars
into and out of their vaults,” ABC News reports.
A Senate investigation concluded HSBC executives repeatedly ignored warning signs from their own compliance officers and government regulators and “watched what they believed to be billions of dollars in suspicious transactions passing through the bank without adequate scrutiny.”
HSBC supposedly ignored red flags when its Mexican affiliate moved $7 billion in physical U.S. dollars through the bank within a two-year peroid. It also allegedly ignored warnings that it was providing currency to a Saudi bank involved in financing al-Qaeda.
Read More @ InfoWars.com
Having a generator for back-up power is great – unless you don’t have
the fuel to run the generator. The irony of the portable back-up
generator – most of them, at least – is that they run on gas. And what’s
the item that’s usually hard to get when the power’s down?Gas.
About two weeks ago, a violent storm line called a derecho passed through our area; thousands of people lost power – not for a few hours, but in some cases, for a week or more. The lines queued up real fast at local gas stations – the ones with still-operable pumps, anyhow. You could not even buy a portable five gallon (or 1 gallon) gas jug at any Lowes or Home Depot in the area.
Read More @ SHTFPlan.com
from Matlarson10:
from Info Wars:
In testimony before the Senate’s Permanent Subcommittee on
Investigations, David Bagley, a compliance officer for HSBC Holdings,
said the bank ignored “warning signs that violent drug gangs in Mexico,
suspected terrorist financiers in the Middle East, and other rogue
characters and enemy states may have been moving billions of dollars
into and out of their vaults,” ABC News reports.A Senate investigation concluded HSBC executives repeatedly ignored warning signs from their own compliance officers and government regulators and “watched what they believed to be billions of dollars in suspicious transactions passing through the bank without adequate scrutiny.”
HSBC supposedly ignored red flags when its Mexican affiliate moved $7 billion in physical U.S. dollars through the bank within a two-year peroid. It also allegedly ignored warnings that it was providing currency to a Saudi bank involved in financing al-Qaeda.
Read More @ InfoWars.com
We The Sheeplez... is intended to reflect
excellence in effort and content. Donations will help maintain this goal
and defray the operational costs. Paypal, a leading provider of secure
online money transfers, will handle the donations. Thank you for your
contribution.
I'm PayPal Verified
We The Sheeplez... is intended to reflect
excellence in effort and content. Donations will help maintain this goal
and defray the operational costs. Paypal, a leading provider of secure
online money transfers, will handle the donations. Thank you for your
contribution.
![[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)
No comments:
Post a Comment