Mike Krieger of LibertyBlitzkrieg.com
joins me for an in-depth conversation about our faltering Republic, and
the uplifting reality that the NWO traitors are losing their grasp on
power because the world is fully awake to their crimes. We also talk
about the looming attempts to disarm the people of the United States and
Mike reminds us that only slaves are disarmed, and we are NOT slaves.
Mike says we will need to refound the Republic, because this one’s gone
Part 2
David Rosenberg On Headless Chickens, Topless Americans, And Bottomless Europeans
The S&P 500 has made little headway for two years running and as Gluskin Sheff's David Rosenberg points out, it first crossed 1380 on July 1, 1999
and since then has run around like a headless chicken (while other
asset classes have not). Meanwhile, Europe's bottomless pit of debt deleveraging
(which is as much a problem for the US and China but less ion focus for
now) makes the entire discourse of some new and aggressive
intervention by the ECB even more ridiculous (and all so deja vu); and
the US is facing up to an entirely topless earnings season as revenues
are coming in at only 1.2% above last year as it appears Q2 EPS is on track for a 0.2% YoY dip - with
guidance falling fast. But apart from all that, Rosie sees the only
source of real buying support for the stock market is the stranded
short-seller forced to cover in the face of CB-jawboning as there is little sign of long-term believers stepping into the void.California Dreaming Turns Into Nightmare As Sinking FaceBerg Stock Means Less State Revenue
Remember
just a few happy months back when California's legislators were
cock-a-hoop over the exuberance in Silicon Valley and all the yummy
IPO/Capital Gains taxes they would tithe away - instantly solving all
funding issues? Yeah, not gonna happen. As reported by the Sacramento Bee this evening: The
state's Legislative Analyst's Office said Wednesday that 'hundreds of
millions' of dollars in assumed tax revenues may never materialize due
to the continued slide in Facebook's stock price. The state Department of Finance assumed the social media giant would trade at $35 by November, while the Analyst's Office believed it would trade at $42 at that time. The November marker is significant because another wave of insiders becomes eligible to sell shares at that point.Is The Chinese Juggernaut Losing Steam?
What
happens when a central bank becomes insolvent? We might get an answer
to that question quicker than we expected. At current exchange rates,
it will be one of the most expensive lessons in history. Usually,
when excessive leverage is involved, it is never a good thing (for the
institution) when the amount of assets flat lines, or even slows down.
The People’s Bank of China’s balance sheet has definitely shown a
noticeable slowdown. In the past, its balance sheet had the amazing
ability to increase by a trillion renminbi every few months. The
current balance seems to be stuck at around ¥28 trillion, which it
passed in July, 2011. If its assets decrease by ¥22 billion (or -0.07%), it is insolvent.
Since peaking out in January, 2012, the PBoC’s balance sheet has lost
¥895 billion, so maybe it already is. Maybe nothing bad will happen.
After all, who needs shareholders equity when you can print money?
by GoldMoney News Desk, Gold Money:
It’s all about the Federal Reserve and the European Central Bank over
the next 24 hours as far as gold and silver are concerned (plus ça
change, some might retort). Later today Ben Bernanke will give a press
conference outlining the Federal Open Market Committee’s latest
conclusions on the US economy. Aside from reiterating the Fed’s
commitment to low rates, some are speculating that Bernanke will give
clear signals about plans for a new round of quantitative easing.Dan Norcini argues that with the stock market still climbing higher and US Treasuries at or close to record low yields, the Fed is unlikely to act just yet. In his words: “why mess with things if the market is doing what you want it to do without taking any additional steps such as another round of bond buying?” He also points out that the Fed has to walk a fine line between being seen as a credible “last resort” market backstop, and a wild cheerleader for said markets. Bernanke can ill-afford to be seen as a glorified hedge-fund errand boy.
Firm signals of more QE probably won’t come until the annual meeting of central bankers in Jackson Hole, Wyoming later this month, or until the conclusion of the FOMC’s next meeting on September 12-13. So gold and silver bulls may have a little while longer to wait before these metals start marching decisively higher.
Read More @ GoldMoney.com
from Unconventional Finance:
by Mike Shedlock, Global Economic Analysis:
Inquiring minds are looking into the July 2012 Manufacturing ISM Report On Business®
“The PMI registered 49.8 percent, an increase of 0.1 percentage point from June’s reading of 49.7 percent, indicating contraction in the manufacturing sector for the second consecutive month, following 34 consecutive months of expansion. The New Orders Index registered 48 percent, an increase of 0.2 percentage point from June and indicating contraction in new orders for the second consecutive month, but at a slightly slower rate. Both the Production Index and the Employment Index remained in growth territory, registering 51.3 percent and 52 percent, respectively. The Prices Index for raw materials registered 39.5 percent, an increase of 2.5 percentage points from the June reading of 37 percent, indicating lower prices on average for the third consecutive month.
Dismal Manufacturing Numbers Worldwide
Reuters reports Global factories struggle as growth fears rise
Inquiring minds are looking into the July 2012 Manufacturing ISM Report On Business®“The PMI registered 49.8 percent, an increase of 0.1 percentage point from June’s reading of 49.7 percent, indicating contraction in the manufacturing sector for the second consecutive month, following 34 consecutive months of expansion. The New Orders Index registered 48 percent, an increase of 0.2 percentage point from June and indicating contraction in new orders for the second consecutive month, but at a slightly slower rate. Both the Production Index and the Employment Index remained in growth territory, registering 51.3 percent and 52 percent, respectively. The Prices Index for raw materials registered 39.5 percent, an increase of 2.5 percentage points from the June reading of 37 percent, indicating lower prices on average for the third consecutive month.
Dismal Manufacturing Numbers Worldwide
Reuters reports Global factories struggle as growth fears rise
U.S. and euro zone factory activity slumped again in July while Chinese manufacturing hit an eight-month low, surveys showed on Wednesday, as economies worldwide showed signs of slowing.Read More @ GlobalEconomicAnalysis.blogspot.com
Economic malaise was worst in the 17-country euro zone, where output plummeted and the manufacturing sector contracted for an 11th straight month as a downturn that began in smaller countries continued to spread into core euro area economies.
The slump worsened in Italy, Spain and Greece as well as the region’s two biggest economies — Germany and France.
By Nickolai Hubble, Daily Reckoning.com.au:
September is the latest ‘save the euro’ deadline. Europe’s politicians will come back from their holidays and face a rather large set of issues to deal with; court rulings, elections, austerity and bailout negotiations, and debt refinancing. In fact, the issues may be too large.
There is one man they can turn to. European Central Bank President Mario Draghi. So what does the resident money printer of the Eurozone think about all this?
In case you haven’t realised, the speeches of the world’s policy makers are utter rubbish. And that tends to be rather annoying if you do bother looking. On the ill-advised suggestion of Greg Canavan, we read Draghi’s recent speech — the one which sent stock markets soaring on Thursday. Sure enough, it was an exasperating experience.
Read More @ DailyReckoning.com.au
from RonPaul2008dotcom:
September is the latest ‘save the euro’ deadline. Europe’s politicians will come back from their holidays and face a rather large set of issues to deal with; court rulings, elections, austerity and bailout negotiations, and debt refinancing. In fact, the issues may be too large.
There is one man they can turn to. European Central Bank President Mario Draghi. So what does the resident money printer of the Eurozone think about all this?
In case you haven’t realised, the speeches of the world’s policy makers are utter rubbish. And that tends to be rather annoying if you do bother looking. On the ill-advised suggestion of Greg Canavan, we read Draghi’s recent speech — the one which sent stock markets soaring on Thursday. Sure enough, it was an exasperating experience.
Read More @ DailyReckoning.com.au
from Testosterone Pit.com:
It must be infuriating for Mario Draghi, the hapless President of the
European Central Bank, to see how masterfully the Fed and the Bank of
Japan control their respective credit markets, how they manipulate them
for the benefit of financial institutions, and how they’re allowing
their governments to run up huge deficits—huge by European debt-crisis
standards—and fund them at near zero cost, or below cost when adjusted
for inflation. And that at the expense of entire classes of investors,
savers, and people who are struggling to make ends meet. Financial
repression is the term. But Draghi just doesn’t seem to be able to wrap
his arms around it.
In his bailiwick, sovereign bond yields are negative at one end of the spectrum and junk-bond high at the other. Some countries, such as Greece, lost access to the markets; risk premiums had gotten too high. But the markets turned out to be correct: Greece defaulted and left behind balance-sheet wreckage across much of Europe.
Read More @ TestosteronePit.com
from CongressmanRonPaul:
It must be infuriating for Mario Draghi, the hapless President of the
European Central Bank, to see how masterfully the Fed and the Bank of
Japan control their respective credit markets, how they manipulate them
for the benefit of financial institutions, and how they’re allowing
their governments to run up huge deficits—huge by European debt-crisis
standards—and fund them at near zero cost, or below cost when adjusted
for inflation. And that at the expense of entire classes of investors,
savers, and people who are struggling to make ends meet. Financial
repression is the term. But Draghi just doesn’t seem to be able to wrap
his arms around it.In his bailiwick, sovereign bond yields are negative at one end of the spectrum and junk-bond high at the other. Some countries, such as Greece, lost access to the markets; risk premiums had gotten too high. But the markets turned out to be correct: Greece defaulted and left behind balance-sheet wreckage across much of Europe.
Read More @ TestosteronePit.com
from CongressmanRonPaul:
by Tony Capaccio, Bloomberg:
The Pentagon’s Missile Defense Agency
warned its employees and contractors last week to stop using their
government computers to surf the Internet for pornographic sites,
according to the agency’s executive director.
In a one-page memo, Executive Director John James Jr. wrote that in recent months government employees and contractors were detected “engaging in inappropriate use of the MDA network.”
“Specifically, there have been instances of employees and contractors accessing websites, or transmitting messages, containing pornographic or sexually explicit images,” James wrote in the July 27 memo obtained by Bloomberg News.
“These actions are not only unprofessional, they reflect time taken away from designated duties, are in clear violation of federal and DoD and regulations, consume network resources and can compromise the security of the network though the introduction of malware or malicious code,” he wrote.
Read More @ Bloomberg
The Pentagon’s Missile Defense Agency
warned its employees and contractors last week to stop using their
government computers to surf the Internet for pornographic sites,
according to the agency’s executive director. In a one-page memo, Executive Director John James Jr. wrote that in recent months government employees and contractors were detected “engaging in inappropriate use of the MDA network.”
“Specifically, there have been instances of employees and contractors accessing websites, or transmitting messages, containing pornographic or sexually explicit images,” James wrote in the July 27 memo obtained by Bloomberg News.
“These actions are not only unprofessional, they reflect time taken away from designated duties, are in clear violation of federal and DoD and regulations, consume network resources and can compromise the security of the network though the introduction of malware or malicious code,” he wrote.
Read More @ Bloomberg
by Susanne Posel, Occupy Corporatism:
The 2012 Leon Panetta, US Secretary of Defense believes that Israel has to strengthen their ties to the US “so that we can be fully prepared to deal with any contingency that may happen” as far as a military strike against Iran.
Panetta said: “My view is that they have not made any decisions with regards to Iran, and they continue to support the international effort to bring pressure against Iran to pull back from their efforts to develop their nuclear capability.”
Panetta sat down with Benjamin Netanyahu, Israeli Prime Minister and Ehud Barack, Israeli Defense Minister to speak about how the US and Israel can stop Iran, conduct a war and frame the Arab nation with production of nuclear weapons.
The UN and Israel are united in their contempt for Iran and both feel that economic sanctions were not enough.
Just before election time in the US, Israel and the US plan to hold a joint military training session in October of this year. Included will be military drills of thousands of soldiers and advanced anti-missile defense systems exercises. They are practicing striking Syria and Iran.
Read More @ OccupyCorporatism.com
The 2012 Leon Panetta, US Secretary of Defense believes that Israel has to strengthen their ties to the US “so that we can be fully prepared to deal with any contingency that may happen” as far as a military strike against Iran.Panetta said: “My view is that they have not made any decisions with regards to Iran, and they continue to support the international effort to bring pressure against Iran to pull back from their efforts to develop their nuclear capability.”
Panetta sat down with Benjamin Netanyahu, Israeli Prime Minister and Ehud Barack, Israeli Defense Minister to speak about how the US and Israel can stop Iran, conduct a war and frame the Arab nation with production of nuclear weapons.
The UN and Israel are united in their contempt for Iran and both feel that economic sanctions were not enough.
Just before election time in the US, Israel and the US plan to hold a joint military training session in October of this year. Included will be military drills of thousands of soldiers and advanced anti-missile defense systems exercises. They are practicing striking Syria and Iran.
Read More @ OccupyCorporatism.com
from Tom Chatham, SilverBearCafe.com:
Corn and soybeans contribute to almost everything we eat and the
sudden rise in the price of these items will filter down into price
increases of just about everything. Corn prices are expected to get as
high as $12.50 per bushel and soybeans could go to $20.00 or higher. Some commodity specialists have even suggested that soybeans could be the new silver.
Corn and soybean meal are staples in animal feed and the rising prices and drought conditions are forcing farmers and ranchers to sell off their herds for slaughter. This will cause a glut in the market over the short term and you may see lower meat prices as a result but this will only be temporary. By next year the prices of meat will rise as the supply of livestock reaches multi decade lows. Supply and demand will push prices higher as a result.
Larry Pope, chief executive of Smithfield Foods has recently given a dire warning. “Beef is simply going to be too expensive to eat. Pork is not going to be too far behind. Chicken is catching up fast.” He also stated that government regulations are going to make things even worse. Almost 40% of the U.S corn crop goes to make ethanol fuel. Pope said, “Its almost a government- mandated disaster here, which is distressing”. He warned that meat prices will rise by “significant double digits”.
Read More @ SilverBearCafe.com
Corn and soybeans contribute to almost everything we eat and the
sudden rise in the price of these items will filter down into price
increases of just about everything. Corn prices are expected to get as
high as $12.50 per bushel and soybeans could go to $20.00 or higher. Some commodity specialists have even suggested that soybeans could be the new silver.Corn and soybean meal are staples in animal feed and the rising prices and drought conditions are forcing farmers and ranchers to sell off their herds for slaughter. This will cause a glut in the market over the short term and you may see lower meat prices as a result but this will only be temporary. By next year the prices of meat will rise as the supply of livestock reaches multi decade lows. Supply and demand will push prices higher as a result.
Larry Pope, chief executive of Smithfield Foods has recently given a dire warning. “Beef is simply going to be too expensive to eat. Pork is not going to be too far behind. Chicken is catching up fast.” He also stated that government regulations are going to make things even worse. Almost 40% of the U.S corn crop goes to make ethanol fuel. Pope said, “Its almost a government- mandated disaster here, which is distressing”. He warned that meat prices will rise by “significant double digits”.
Read More @ SilverBearCafe.com
[Ed. Note:
Once again your criminal government is responsible for atrocities
against civilians and more unconstitutional, undeclared war.]
By Mark Hosenball, Reuters:
President Barack Obama has signed a secret order authorizing U.S.
support for rebels seeking to depose Syrian President Bashar al-Assad
and his government, sources familiar with the matter said.
Obama’s order, approved earlier this year and known as an intelligence “finding,” broadly permits the CIA and other U.S. agencies to provide support that could help the rebels oust Assad.
This and other developments signal a shift toward growing, albeit still circumscribed, support for Assad’s armed opponents – a shift that intensified following last month’s failure of the U.N. Security Council to agree on tougher sanctions against the Damascus government.
Read More @ Reuters
By Mark Hosenball, Reuters:
President Barack Obama has signed a secret order authorizing U.S.
support for rebels seeking to depose Syrian President Bashar al-Assad
and his government, sources familiar with the matter said.Obama’s order, approved earlier this year and known as an intelligence “finding,” broadly permits the CIA and other U.S. agencies to provide support that could help the rebels oust Assad.
This and other developments signal a shift toward growing, albeit still circumscribed, support for Assad’s armed opponents – a shift that intensified following last month’s failure of the U.N. Security Council to agree on tougher sanctions against the Damascus government.
Read More @ Reuters
from gpc1981, Gains Pains & Capital:
As you know by now, I keep stating that Spain is going to be the straw that breaks the EU’s back. The country is facing a regional, banking, and soon to be sovereign crisis all at once.
Read More @ GainsPainsCapital.com
As you know by now, I keep stating that Spain is going to be the straw that breaks the EU’s back. The country is facing a regional, banking, and soon to be sovereign crisis all at once.
Spain’s Catalonia suspends social service payments
Catalonia, Spain’s most indebted region, said Tuesday it
could not pay subsidies in July to hospitals, old age homes and other
social services already reeling from sharp budget cuts.
Catalonia is one of SIX Spanish regions
that are facing budgetary crises (there are 17 Spanish regions in
total). Given that the Government of Spain itself is bankrupt (the
Government bailout fund had less than €5 billion in it when Bankia collapsed back in May), the possibility of a Federal bailout here is nil.Read More @ GainsPainsCapital.com
by Gregor Macdonald, Financial Sense:
While markets await details on the next round of quantitative easing (QE) — whether refreshed bond buying from the Fed or sovereign debt buying from the European Central Bank (ECB) — it’s important to ask, What can we expect from further heroic attempts to reflate the OECD economies?
The 2009 and 2010 QE programs from the Fed, and the 2011 operations from the ECB, were intended as shock treatment to hopefully set economies on a more typical, post-recession, recovery pathway. Here in 2012, QE was supposed to be well behind us. Instead, parts of Southern Europe are in outright depression, the United Kingdom is in double-dip recession, and the US is sweltering through its weakest “recovery” since the Great Depression.
It wasn’t supposed to be this way.
Read More @ Financial Sense.com
While markets await details on the next round of quantitative easing (QE) — whether refreshed bond buying from the Fed or sovereign debt buying from the European Central Bank (ECB) — it’s important to ask, What can we expect from further heroic attempts to reflate the OECD economies?
The 2009 and 2010 QE programs from the Fed, and the 2011 operations from the ECB, were intended as shock treatment to hopefully set economies on a more typical, post-recession, recovery pathway. Here in 2012, QE was supposed to be well behind us. Instead, parts of Southern Europe are in outright depression, the United Kingdom is in double-dip recession, and the US is sweltering through its weakest “recovery” since the Great Depression.
It wasn’t supposed to be this way.
Read More @ Financial Sense.com
by Gary North, Lew Rockwell:
Yesterday was the 100th anniversary of Milton Friedman’s day of birth. The Wall Street Journal ran a laudatory article on him.This year is the 100th anniversary of Ludwig von Mises’ Theory of Money and Credit. There has been no article in the Wall Street Journal. The Mises Institute took my advice and held several sessions on that book at its March week-long Austrian Scholars Conference. A book on that book will be published next year. Few people in academia and the financial media will notice.
This reflects the shape this nation is in: bad.
It reminds us once again: halfway measures don’t change anything. They only slow things down. Too often they deflect and confuse. This was the case with Friedman from beginning to end.
Let’s survey the article.
In the 1960s, Friedman famously explained that “there’s no such thing as a free lunch.” If the government spends a dollar, that dollar has to come from producers and workers in the private economy. There is no magical “multiplier effect” by taking from productive Peter and giving to unproductive Paul. As obvious as that insight seems, it keeps being put to the test.
Read More @ LewRockwell.com
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