by Patti Domm, CNBC:
Wall Street hears the helicopter coming.
Stocks initially dipped after August’s painfully weak employment report showed job growth of just 96,000, but the market was flat as traders bet the number could help push the hand of the Federal Reserve towards a new round of quantitative easing.
There was a time when the NSA would not know
the content of this sentence minutes (or depending on the speed of
typing, hours) ahead of our general readership. Those days are now
gone, primarily thanks to the Patriot Act, which however merely
accelerated the inevitable Orwellian destination to which American
society was otherwise headed and which made constant "supervision" and
"vigilance" of every US citizen a necessity (for some eyewatering
details read “We Are This Far From A Turnkey Totalitarian State" - Big Brother Goes Live September 2013).
There was, however, one aspect of society over which the US government
did not have Chinese-type "firewall" supreme authority: the Internet.
Now, as a result of an Executive Order being quietly drafted, the
president of this once great country, together with the Department of
Homeland Security formed in response to the events of September 11, is
about to grasp supreme control over this last bastion of New Normal
expression and content dissemination, naturally under the guise of protecting the people. Because as Bloomberg reports, President Obama’s administration is drafting an executive order that would create a program protecting vital computer networks from cyber attacks.
Wall Street hears the helicopter coming.
Stocks initially dipped after August’s painfully weak employment report showed job growth of just 96,000, but the market was flat as traders bet the number could help push the hand of the Federal Reserve towards a new round of quantitative easing.
Market pundits, within minutes of the 8:30 am ET report, unleashed a flurry of notes raising the odds of QE3.
Fed Chairman Ben
Bernanke won the nickname “Helicopter Ben” after he referred to a
statement by Nobel economist Milton Friedman about fighting deflation by
using a helicopter drop of money. Now, traders expect to see a money
drop, with a better chance it will come when the Fed meets next week.
Read More @ CNBCUncle CyberSam Prepares To Defend Your Internet For You
There was a time when the NSA would not know
the content of this sentence minutes (or depending on the speed of
typing, hours) ahead of our general readership. Those days are now
gone, primarily thanks to the Patriot Act, which however merely
accelerated the inevitable Orwellian destination to which American
society was otherwise headed and which made constant "supervision" and
"vigilance" of every US citizen a necessity (for some eyewatering
details read “We Are This Far From A Turnkey Totalitarian State" - Big Brother Goes Live September 2013).
There was, however, one aspect of society over which the US government
did not have Chinese-type "firewall" supreme authority: the Internet.
Now, as a result of an Executive Order being quietly drafted, the
president of this once great country, together with the Department of
Homeland Security formed in response to the events of September 11, is
about to grasp supreme control over this last bastion of New Normal
expression and content dissemination, naturally under the guise of protecting the people. Because as Bloomberg reports, President Obama’s administration is drafting an executive order that would create a program protecting vital computer networks from cyber attacks. Bernanke’s Jobs Estimate
Quantitative easing hasn’t been about jobs. If this was about jobs or stimulating demand, Bernanke would have aimed the helicopter drops at the wider public, as many economists have suggested. This policy of dropping cash directly to the banks is bailing out a dangerous and morally-hazardous financial sector and too-big-to-fail megabanks that remain dangerously overleveraged and under-capitalised, needing endless new liquidity just to keep past debts serviceable. There has been plenty of cash helicopter-dropped onto Wall Street, but nobody on Wall Street has gone to jail for causing the 2008 crisis. Criminal banksters get the huge liquidity injections they want, and the rest get less than crumbs.
99 Years Of Keynesian-Monetarist "Winning"
99
years ago the Fed was born. Then there was a world war. Two decades
later, Keynesian economics (in a somewhat mutated form than that
envisioned by the author, much like the Taylor rule) became the gold
standard (pardon the pun) of the status quo, as it gave the
political establishment a "scientific" justification to spend and
accumulate gargantuan debt loads without fear of backlash by the public.
Then there was another world war. Then the gold standard was
obliterated, allowing the same establishment to dilute the instrument
used as money and to cross the "gargantuan" barrier in spending and debt
issuance. Then the world came to the verge of complete socio-economic
and systemic collapse after a ponzi pyramid of $1 quadrillion in credit
money nearly imploded in on itself. Then the final chapter of the
corporate takeover of the sovereign model established by the Treaty of
Westphalia arrived, as private deleveraging at the terminal expense of
public debt took place at a record pace. This is a nutshell is the world
history of the past century. And to summarize where we currently
stand, we present the chart below. In the entire "developed" world,
there is only one country that runs a budget surplus, even as the
entire "developed" world is now, according to the Reinhart and Rogoff
definition of sustainable public leverage, insolvent.Elizabeth Warren: 'The System Is Rigged'
from RonPaulCC2012 :
by Susanne Posel, Occupy Corporatism:
Since 2010, the UN Food and Agricultural Organization have stated that the rise in food prices is directly correlated to the 80 million people being added to the world’s population annually. This fact, according to the globalists at the UN, is beginning to “tax both the skills of farmers and the limits of the earth’s land and water resources.”
Added to this problem are the 3 million people who are “moving up the food chain” eating more than their share in gluttonous nations like the United States and China.
While New York Mayor Michael Bloomberg is announcing that the city plan to ban sugary beverages larger than 16 ounces to curb the waistlines of the average New Yorker, the rest of the world is wondering where their next meal may be coming from.
The UK, the average person’s weight continues to dramatically increase with the use of high fructose corn syrup, increase consumption of processed foods and a lethargic lifestyle. Their societal issues with food and weight are mirrored in America. And if compared to other nations, the problem remains the same. While some die of starvation, others are dying from over consumption. Both the degenerative quality of the food being sold in the developed world and the lack of food in the under-developed nations are causational to the same end – population reduction.
Read More @ OccupyCorporatism.com
In
an interview with The Gold Report, Mike Niehuser* assesses the
macroeconomic situation from a banker’s perspective, explains why he is
convinced gold is ready to take off.
by The Gold Report, MineWeb.com
The Gold Report: Regarding Bernanke’s comments, how does this impact your forecast on gold prices?
MN: I think Bernanke’s comments, as unclear as they were, demonstrate how polarized the world is in its thinking. The markets are looking for leadership and direction, something investors can trust to plan their investments. This became clear to me at banking school. One direction is to stable money, the other indecisive course will reap the whirlwind. I’m still holding to my original forecast for 2012 of gold ranging from $1,400 to $1,700/ounce (oz) with the potential for some catalyst to push the upside to reach $1,800 to $1,900/oz. While it may appear lame to reiterate what has already occurred, I am quite confident we could see a move to stabilize near the upside of the forecast toward the end of 2012. Due to the election, we may expect significant volatility through the end of the year. It should come as no surprise if silver traces a similar pattern.
TGR: In light of your involvement with the banking industry, how do you think bankers feel about the possibility of more quantitative easing and its impact on interest rates and inflation?
Read More @ MineWeb.com
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“The
objective of this programme? It is to repair monetary policy
transmission and to recreate the singleness of monetary policy for the
euro area.”
– Mario Draghi, president of the European Central Bank, Thurs 6 Sept 2012
FOR the second time or more since May, today’s Handelsblatt newspaper in Germany carries a big picture of Edvard Munch’s The Scream.
This time, the picture doesn’t replace the painter’s tortured self-portrait with chancellor Angela Merkel’s head. The headline now reads “Angst of the Germans“. But the subject is the same.
“Nothing frightens the German people so much as the Euro debt crisis,” says the newspaper. The most over-insured people in the world, Germany naturally shares its fears in a survey conducted for an insurance company’s PR department – and at 73%, fear of the Eurozone crisis now tops even its reading 12 months ago, when the crisis tipped into what’s proven its worst plunge to date.
Indeed, “This fears beats even the fear of inflation at 63%,” says the R&V survey. Which is some going in Germany! “This concern is [also] likely to have increased after yesterday’s Governing Council meeting of the European Central Bank.”
Read More @ GoldSeek.com
by The Gold Report, MineWeb.com
The Gold Report: Regarding Bernanke’s comments, how does this impact your forecast on gold prices?
MN: I think Bernanke’s comments, as unclear as they were, demonstrate how polarized the world is in its thinking. The markets are looking for leadership and direction, something investors can trust to plan their investments. This became clear to me at banking school. One direction is to stable money, the other indecisive course will reap the whirlwind. I’m still holding to my original forecast for 2012 of gold ranging from $1,400 to $1,700/ounce (oz) with the potential for some catalyst to push the upside to reach $1,800 to $1,900/oz. While it may appear lame to reiterate what has already occurred, I am quite confident we could see a move to stabilize near the upside of the forecast toward the end of 2012. Due to the election, we may expect significant volatility through the end of the year. It should come as no surprise if silver traces a similar pattern.
TGR: In light of your involvement with the banking industry, how do you think bankers feel about the possibility of more quantitative easing and its impact on interest rates and inflation?
Read More @ MineWeb.com
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by Dr. Ismail Salami, Global Research:
Much to the bitter disappointment of the international community, a report recently declassified by the CIA reveals that a war that started in the name of democracy in Iraq in 2003 and claimed the lives of more than one million innocent Iraqis and thousands of US-led troops was waged on the basis of an unfortunate series of blatant lies fabricated by CIA.
In a nutshell, the report says the CIA failed to carry out sufficient research into the possibility of WMDs in the hands of the Iraqi despot Saddam Hussein and that without due proof, they concluded that since Saddam was in the habit of lying about WMDs, they guessed he was in possession of weapons and mass destruction and that Iraq had to be reduced to dereliction and misery at the hands of the US military on the strength of a sheer conjecture.
Prominent points in the report are as follows:
1) When the [U.N. and International Atomic Energy Agency] inspections proved more intrusive than expected, the Iraqi leadership appears to have panicked and made a fateful decision to secretly destroy much of the remaining nondeclared items and eliminate the evidence.
Read More @ GlobalResearch.ca
Much to the bitter disappointment of the international community, a report recently declassified by the CIA reveals that a war that started in the name of democracy in Iraq in 2003 and claimed the lives of more than one million innocent Iraqis and thousands of US-led troops was waged on the basis of an unfortunate series of blatant lies fabricated by CIA.
In a nutshell, the report says the CIA failed to carry out sufficient research into the possibility of WMDs in the hands of the Iraqi despot Saddam Hussein and that without due proof, they concluded that since Saddam was in the habit of lying about WMDs, they guessed he was in possession of weapons and mass destruction and that Iraq had to be reduced to dereliction and misery at the hands of the US military on the strength of a sheer conjecture.
Prominent points in the report are as follows:
1) When the [U.N. and International Atomic Energy Agency] inspections proved more intrusive than expected, the Iraqi leadership appears to have panicked and made a fateful decision to secretly destroy much of the remaining nondeclared items and eliminate the evidence.
Read More @ GlobalResearch.ca
from Off Grid Survival:
Brian Loftus, a commercial fisherman, went to a local gun store to purchase a few boxes of ammunition for the range. Later that evening he got a phone call from the State Police. They wanted to talk to him because of his “large purchase amount of ammunition.”
Loftus told the State Police that he had no criminal record and no reason to be suspected of anything. The police responded by telling him that they “know his record was clean”, because they had already pulled it and checked him out prior to the call.
I guess they forgot about that pesky 4th Amendment.
Read More @ OffGridSurvival.com
Brian Loftus, a commercial fisherman, went to a local gun store to purchase a few boxes of ammunition for the range. Later that evening he got a phone call from the State Police. They wanted to talk to him because of his “large purchase amount of ammunition.”
Loftus told the State Police that he had no criminal record and no reason to be suspected of anything. The police responded by telling him that they “know his record was clean”, because they had already pulled it and checked him out prior to the call.
I guess they forgot about that pesky 4th Amendment.
Read More @ OffGridSurvival.com
from RT:
Birthmarks, be damned: the FBI has officially started rolling out a state-of-the-art face recognition project that will assist in their effort to accumulate and archive information about each and every American at a cost of a billion dollars.
The Federal Bureau of Investigation has reached a milestone in the development of their Next Generation Identification (NGI) program and is now implementing the intelligence database in unidentified locales across the country, New Scientist reports in an article this week. The FBI first outlined the project back in 2005, explaining to the Justice Department in an August 2006 document (.pdf) that their new system will eventually serve as an upgrade to the current Integrated Automated Fingerprint Identification System (IAFIS) that keeps track of citizens with criminal records across America .
“The NGI Program is a compilation of initiatives that will either improve or expand existing biometric identification services,” its administrator explained to the Department of Justice at the time, adding that the project, “will accommodate increased information processing and sharing demands in support of anti-terrorism.”
Read More @ RT.com
Birthmarks, be damned: the FBI has officially started rolling out a state-of-the-art face recognition project that will assist in their effort to accumulate and archive information about each and every American at a cost of a billion dollars.
The Federal Bureau of Investigation has reached a milestone in the development of their Next Generation Identification (NGI) program and is now implementing the intelligence database in unidentified locales across the country, New Scientist reports in an article this week. The FBI first outlined the project back in 2005, explaining to the Justice Department in an August 2006 document (.pdf) that their new system will eventually serve as an upgrade to the current Integrated Automated Fingerprint Identification System (IAFIS) that keeps track of citizens with criminal records across America .
“The NGI Program is a compilation of initiatives that will either improve or expand existing biometric identification services,” its administrator explained to the Department of Justice at the time, adding that the project, “will accommodate increased information processing and sharing demands in support of anti-terrorism.”
Read More @ RT.com
by Jeremy Kirk, PC World:
Hackers stole about US$250,000 from BitFloor, a BitCoin exchange, on
Monday, and it does not have the money to reimburse account holders,
according to the website’s founder.
BitCoins are an electronic currency that are generated as computers solve a changing mathematical problem. A BitCoin is essentially just a secret number, which is protected from unauthorized transfers by public key cryptography, that is associated with an 34-character alphanumeric “address” that a user holds.
BitFloor, based in New York City, allowed account holders to buy and sell BitCoins, exchange the currency for U.S. dollars and transfer the money using the ACH (Automated Clearing House) system.
The cryptography wrapped around BitCoins is designed to make it nearly impossible to derive the private keys needed to gain possession of the secret number. But in the case of BitFloor, hackers found the keys.
Read More @ PC World
Hackers stole about US$250,000 from BitFloor, a BitCoin exchange, on
Monday, and it does not have the money to reimburse account holders,
according to the website’s founder.BitCoins are an electronic currency that are generated as computers solve a changing mathematical problem. A BitCoin is essentially just a secret number, which is protected from unauthorized transfers by public key cryptography, that is associated with an 34-character alphanumeric “address” that a user holds.
BitFloor, based in New York City, allowed account holders to buy and sell BitCoins, exchange the currency for U.S. dollars and transfer the money using the ACH (Automated Clearing House) system.
The cryptography wrapped around BitCoins is designed to make it nearly impossible to derive the private keys needed to gain possession of the secret number. But in the case of BitFloor, hackers found the keys.
Read More @ PC World
by Greg Canavan, Daily Reckoning.com.au:
We take a break from China and iron ore today and turn our gaze to Europe. Last night, European Central Bank chief Mario Draghi announced what the market pretty much already knew. That is, the ECB will engage in ‘Outright Monetary Transactions‘ (OMTs) to help bring borrowing costs down in Spain and Italy, although these countries were not explicitly named.
The pretence for the decision was that the high borrowing costs in these two large Eurozone economies threatened the stability and the future of the euro project. The ECB had to do something that ensured the long term future of the euro — the ‘irreversible’ project.
Whatever. Mario simply came to a fork in the road and chose the path most travelled. That is, he chose the easy path, the road to debt monetisation.
Before we get into why the world is on the road to ruin, let’s back up a bit. What exactly did the ECB announce, and did it justify the surge in global markets?
Read More @ DailyReckoning.com.au
If You Get a Pullback...BTFD...
We take a break from China and iron ore today and turn our gaze to Europe. Last night, European Central Bank chief Mario Draghi announced what the market pretty much already knew. That is, the ECB will engage in ‘Outright Monetary Transactions‘ (OMTs) to help bring borrowing costs down in Spain and Italy, although these countries were not explicitly named. The pretence for the decision was that the high borrowing costs in these two large Eurozone economies threatened the stability and the future of the euro project. The ECB had to do something that ensured the long term future of the euro — the ‘irreversible’ project.
Whatever. Mario simply came to a fork in the road and chose the path most travelled. That is, he chose the easy path, the road to debt monetisation.
Before we get into why the world is on the road to ruin, let’s back up a bit. What exactly did the ECB announce, and did it justify the surge in global markets?
Read More @ DailyReckoning.com.au
If You Get a Pullback...BTFD...
from Gold Silver Worlds:
Silver (SLV) is breaking out past $30 and the trend is moving higher as the Fed signals that they are now ready to pull the trigger and boost the economy possibly as early as the next Open Market Meeting in the middle of September. Silver is regaining the 200 day moving average on a breathtaking move. Even though we have the general equity markets at record highs, economic conditions all around the world are not showing evidence of a recovery…yet.
The equity markets (SPY) rallying higher during an economic contraction may be forecasting a reflationary turnaround. Remember a rising equity and bond market historically precedes an inflationary scenario.
Silver which was by far the most receptive to QE2 broke out earlier this week and is continuing higher breaking resistance and downtrends. Learning from the silver price move after QE2, our readers have been informed for many weeks that we would believe the $26 area would hold and we would see an upside reversal breakout above $30.
This technical breakout has occurred and is very bullish. Now it hits the newswires that Bernanke may discuss a new large scale asset purchase program (QE3). Many who sold their precious metals and mining stocks hoping to get in at lower prices are now scrambling to buy back in at higher prices. Thus we see a parabolic move in precious metals. However, the major miners (GDX) and the small explorers (GDXJ) are just beginning to make major breakout.
Read More @ GoldSilverWorlds
Silver (SLV) is breaking out past $30 and the trend is moving higher as the Fed signals that they are now ready to pull the trigger and boost the economy possibly as early as the next Open Market Meeting in the middle of September. Silver is regaining the 200 day moving average on a breathtaking move. Even though we have the general equity markets at record highs, economic conditions all around the world are not showing evidence of a recovery…yet.
The equity markets (SPY) rallying higher during an economic contraction may be forecasting a reflationary turnaround. Remember a rising equity and bond market historically precedes an inflationary scenario.
Silver which was by far the most receptive to QE2 broke out earlier this week and is continuing higher breaking resistance and downtrends. Learning from the silver price move after QE2, our readers have been informed for many weeks that we would believe the $26 area would hold and we would see an upside reversal breakout above $30.
This technical breakout has occurred and is very bullish. Now it hits the newswires that Bernanke may discuss a new large scale asset purchase program (QE3). Many who sold their precious metals and mining stocks hoping to get in at lower prices are now scrambling to buy back in at higher prices. Thus we see a parabolic move in precious metals. However, the major miners (GDX) and the small explorers (GDXJ) are just beginning to make major breakout.
Read More @ GoldSilverWorlds
by Eric Blair, Activist Post
It seems whenever the government injects money into a specific industry, prices climb quickly and a bubble of some sort ensues.
We had the real estate bubble which was aided by government guaranteeing the risky loans that banks made to unqualified buyers. Likewise, we’re still in the midst of an unprecedented college bubble which is inflating costs far beyond the official rate of inflation due to the government’s monopoly and loose requirements on student loans. And, predictably, the mandates of the Affordable Care Act (sic) are already driving up healthcare costs even faster than quasi-monopolies were afforded before the law passed.
This government spending has, for all intents and purposes, created a false demand that would not have naturally existed in the marketplace. Could the same thing now be happening to food prices due to an infusion of government money?
Read More @ Activist Post
It seems whenever the government injects money into a specific industry, prices climb quickly and a bubble of some sort ensues.
We had the real estate bubble which was aided by government guaranteeing the risky loans that banks made to unqualified buyers. Likewise, we’re still in the midst of an unprecedented college bubble which is inflating costs far beyond the official rate of inflation due to the government’s monopoly and loose requirements on student loans. And, predictably, the mandates of the Affordable Care Act (sic) are already driving up healthcare costs even faster than quasi-monopolies were afforded before the law passed.
This government spending has, for all intents and purposes, created a false demand that would not have naturally existed in the marketplace. Could the same thing now be happening to food prices due to an infusion of government money?
Read More @ Activist Post
by Paul Steiger, Pro Publica:
Well, we’ve all now come through two weeks of bombardment by
political rhetoric, first from one side and then from the other — with
the prospect of much more to come over the next two months.
And maybe, like lots of us, you’ve also been bombarded by email appeals for money from the candidates and their supporters.
I want to take a minute now for an appeal of a different sort.
No matter who wins this November, it’s going to be critical to hold them to account, to make sure they keep the promises they’re making, to point out when they don’t, to ensure that none of us loses sight of the people who are affected by the decisions made by whoever is president come Jan. 21.
That’s where ProPublica comes in. For more than four years now, under a Republican and then a Democratic president, we’ve published high-impact accountability journalism. We’ve called out our leaders when they came up short, without fear or favor — and especially this year, we’ve pointed out deep flaws in the system through which we choose these leaders.
Read More @ ProPublica.org
Gold rallied to a more than six-month high at above $1,740 an ounce after Friday’s disappointing U.S. jobs report fueled Fed stimulus bets. Jumping 2.0% on the day, gold prices spurred ahead 3.1% on the week.
Read More @ CoinNews.net
Well, we’ve all now come through two weeks of bombardment by
political rhetoric, first from one side and then from the other — with
the prospect of much more to come over the next two months.And maybe, like lots of us, you’ve also been bombarded by email appeals for money from the candidates and their supporters.
I want to take a minute now for an appeal of a different sort.
No matter who wins this November, it’s going to be critical to hold them to account, to make sure they keep the promises they’re making, to point out when they don’t, to ensure that none of us loses sight of the people who are affected by the decisions made by whoever is president come Jan. 21.
That’s where ProPublica comes in. For more than four years now, under a Republican and then a Democratic president, we’ve published high-impact accountability journalism. We’ve called out our leaders when they came up short, without fear or favor — and especially this year, we’ve pointed out deep flaws in the system through which we choose these leaders.
Read More @ ProPublica.org
from CoinNews.net:
Gold rallied to a more than six-month high at above $1,740 an ounce after Friday’s disappointing U.S. jobs report fueled Fed stimulus bets. Jumping 2.0% on the day, gold prices spurred ahead 3.1% on the week.
“Gold is going through the roof because this negative data makes QE3 more likely now,” Reuters quoted Daniel Briesemann, commodities analyst at Commerzbank in Frankfurt.The U.S. Labor Department said 96,000 jobs were created in August while also revising downward June and July data to show 41,000 fewer jobs than previously reported. July’s revised figure was 141,000, which is less than spectacular itself.
Read More @ CoinNews.net
by Adrian Ash, Gold Seek:
“The
objective of this programme? It is to repair monetary policy
transmission and to recreate the singleness of monetary policy for the
euro area.”– Mario Draghi, president of the European Central Bank, Thurs 6 Sept 2012
FOR the second time or more since May, today’s Handelsblatt newspaper in Germany carries a big picture of Edvard Munch’s The Scream.
This time, the picture doesn’t replace the painter’s tortured self-portrait with chancellor Angela Merkel’s head. The headline now reads “Angst of the Germans“. But the subject is the same.
“Nothing frightens the German people so much as the Euro debt crisis,” says the newspaper. The most over-insured people in the world, Germany naturally shares its fears in a survey conducted for an insurance company’s PR department – and at 73%, fear of the Eurozone crisis now tops even its reading 12 months ago, when the crisis tipped into what’s proven its worst plunge to date.
Indeed, “This fears beats even the fear of inflation at 63%,” says the R&V survey. Which is some going in Germany! “This concern is [also] likely to have increased after yesterday’s Governing Council meeting of the European Central Bank.”
Read More @ GoldSeek.com
from Libertytactics:
James & Lou speak with Ian Puddick on Police Corruption
James & Lou speak with Ian Puddick on Police Corruption
from Bullion Street:
India’s Gold reserves surged to $26.24 billion at the end of August,
climbed by a whopping $524.7million, said country’s central bank, the
RBI.
India’s gold reserves remained unchanged for the past few months.
According to a Reserve Bank data country’s foreign exchange reserves rose by $282.3 million to $290.46 billion on the back of a healthy increase in the gold reserves.
The total reserves had risen $1.26 billion to $290.18 billion in the previous reporting week.
Foreign currency assets, a major component of the forex reserves, were down by $252.4 million to $257.62 billion for the week ended August 31, the Reserve Bank said on Friday.
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in the reserves, the apex bank said.
Read More @ BullionStreet.com
This "SON OF A BITCH"...Knew FULL WELL What he was doing...
India’s Gold reserves surged to $26.24 billion at the end of August,
climbed by a whopping $524.7million, said country’s central bank, the
RBI.India’s gold reserves remained unchanged for the past few months.
According to a Reserve Bank data country’s foreign exchange reserves rose by $282.3 million to $290.46 billion on the back of a healthy increase in the gold reserves.
The total reserves had risen $1.26 billion to $290.18 billion in the previous reporting week.
Foreign currency assets, a major component of the forex reserves, were down by $252.4 million to $257.62 billion for the week ended August 31, the Reserve Bank said on Friday.
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in the reserves, the apex bank said.
Read More @ BullionStreet.com
This "SON OF A BITCH"...Knew FULL WELL What he was doing...
from Unconventional Finance:
While most would say the Federal Reserve was designed to stabilize the economy and prevent bank failures, more investigation shows that the Fed is a private banking cartel designed to work against the best interests of the American people. Woodrow Wilson was the president that signed the Federal Reserve legislation. Did he regret handing the power to create money to this cartel of banks? Some say he did, for Wilson has been quoted in saying: “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. We are no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.” ~ Woodrow Wilson 1919. Is this quote of regret authentic? Join me as I uncover the mystery of this obscure, but critical quote.
While most would say the Federal Reserve was designed to stabilize the economy and prevent bank failures, more investigation shows that the Fed is a private banking cartel designed to work against the best interests of the American people. Woodrow Wilson was the president that signed the Federal Reserve legislation. Did he regret handing the power to create money to this cartel of banks? Some say he did, for Wilson has been quoted in saying: “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. We are no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.” ~ Woodrow Wilson 1919. Is this quote of regret authentic? Join me as I uncover the mystery of this obscure, but critical quote.
by Ludwig von Mises, Mises:
It cannot be the task of this book to discuss the problem of social
cooperation otherwise than with rational arguments. But the root of the
opposition to liberalism cannot be reached by resort to the method of
reason. This opposition does not stem from the reason, but from a
pathological mental attitude?from resentment and from a neurasthenic
condition that one might call a Fourier complex, after the French
socialist of that name.
Concerning resentment and envious malevolence little need be said. Resentment is at work when one so hates somebody for his more favorable circumstances that one is prepared to bear heavy losses if only the hated one might also come to harm. Many of those who attack capitalism know very well that their situation under any other economic system will be less favorable. Nevertheless, with full knowledge of this fact, they advocate a reform, e.g., socialism, because they hope that the rich, whom they envy, will also suffer under it. Time and again one hears socialists say that even material want will be easier to bear in a socialist society because people will realize that no one is better off than his neighbor.
At all events, resentment can still be dealt with by rational arguments. It is, after all, not too difficult to make clear to a person who is filled with resentment that the important thing for him cannot be to worsen the position of his better situated fellow men, but to improve his own.
Read More @ Mises.ca
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It cannot be the task of this book to discuss the problem of social
cooperation otherwise than with rational arguments. But the root of the
opposition to liberalism cannot be reached by resort to the method of
reason. This opposition does not stem from the reason, but from a
pathological mental attitude?from resentment and from a neurasthenic
condition that one might call a Fourier complex, after the French
socialist of that name.Concerning resentment and envious malevolence little need be said. Resentment is at work when one so hates somebody for his more favorable circumstances that one is prepared to bear heavy losses if only the hated one might also come to harm. Many of those who attack capitalism know very well that their situation under any other economic system will be less favorable. Nevertheless, with full knowledge of this fact, they advocate a reform, e.g., socialism, because they hope that the rich, whom they envy, will also suffer under it. Time and again one hears socialists say that even material want will be easier to bear in a socialist society because people will realize that no one is better off than his neighbor.
At all events, resentment can still be dealt with by rational arguments. It is, after all, not too difficult to make clear to a person who is filled with resentment that the important thing for him cannot be to worsen the position of his better situated fellow men, but to improve his own.
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