Just because the middle east did not have enough countries and/or terrorist organizations shooting at random things, in outright attempts of provocation or otherwise, here comes Israel to join the party. From Reuters: "The Israeli air force shot down a drone after it crossed into southern Israel on Saturday, the military said, but it remained unclear where the aircraft came from. "An unmanned aerial vehicle was identified penetrating Israeli air space this morning, and was intercepted by the Israeli Air Force at approximately 10 a.m. (0700 GMT)," the military said in a brief statement. Soldiers were searching the area where the drone was downed - in the northern part of the Negev desert - to locate and identify the drone, the statement said. The Negev desert is near Israel's southern borders with the Gaza Strip, Egypt, Jordan and the occupied West Bank."
Israeli Air Force Releases Video Of Explosive Drone Interception
You read about it earlier here. Now see how it happened in real time. The identity of the "transgressor(s)" has still not been released.
from Silver Doctors:
Somehow we missed this over the summer.
In an excellent economic lecture series presented by the BBC, economic historian (& author of the recent Newsweek piece Hit the Road Barack) Niall Ferguson states that the total US unfunded liabilities is a mind-blowing $238 TRILLION- over 16 times the total US debt claimed by the Treasury Department of $16 trillion!!
Can you say QE to INFINITY….AND BEYOND!!! ? There is simply no other viable solution.
Somehow we missed this over the summer.In an excellent economic lecture series presented by the BBC, economic historian (& author of the recent Newsweek piece Hit the Road Barack) Niall Ferguson states that the total US unfunded liabilities is a mind-blowing $238 TRILLION- over 16 times the total US debt claimed by the Treasury Department of $16 trillion!!
Can you say QE to INFINITY….AND BEYOND!!! ? There is simply no other viable solution.
The rapidly rising quantity of these bonds certainly implies a growing charge on those in employment, now and in the future, since – even if the current low rates of interest enjoyed by the biggest sovereign borrowers persist – the amount of money needed to service the debt must inexorably rise.Read More @ Silver Doctors
But the official debts in the form of bonds do not include the often far larger unfunded liabilities of welfare schemes like – to give the biggest American schemes – Medicare, Medicaid and Social Security.
The most recent estimate for the difference between the net present value of federal government liabilities and the net present value of future federal revenues is $200 trillion, nearly thirteen times the debt as stated by the U.S. Treasury.
Fed Balance Sheet Composition Update
For those curious how the Fed's ongoing takeover of the US bond market looks like, below is a visual update.What Impact Does Oil Have On The Syrian Civil War?
There is a popular belief in the Middle East that Washington’s foreign policy, particularly as it relates to this precarious region, is largely driven by America’s dependency on, and insatiable appetite for Arab oil. One can make a good argument for that. Had Syria been a major oil producing country chances are the US would have already dispatched military forces to impose a pax Americana and to put a stop to the horrific fighting that has been slowly, but without any doubt, ripping Syria apart and dismantling the infrastructures that make the Syrian state what it is today. Even if the war was to end today it would take years for Syria to return to its pre-war position from an economic and military perspective.Trader Dan on King World News Metals Wrap
Trader Dan at Trader Dan's Market Views - 3 hours ago
Please click on the following week to listen in to my regular weekly radio
interview with Eric King on the KWN Markets and Metals Wrap.
This week we are discussing the recent Committment of Traders Report and
the beginning of what appears to be some imbalance in the overall
positioning of the various players.
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2012/10/6_KWN_Weekly_Metals_Wrap.html
Jobs report 114,000 new hirings against expectations of 115,000/unemployment rate falls to 7.8%/gold and silver drop on obvious raid/Implats fires 12,000 miners from their S.Africa mine/
Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 5 hours ago
Good
morning Ladies and Gentlemen:
Gold closed down $15.50 to $1778.60 while silver fell in sympathy down
to $34.52 a drop of 52 cents.
It is customary for the bankers to whack gold either the day before the
jobs report or immediately after the report is given. This has been
going on for years and today they did not disappoint. The bankers are
in desperate shape to keep silver below the 35.00
Video: Sugar Could Triple And Still Be Below Its All Time High
Admin at Jim Rogers Blog - 7 hours ago
*Jim Rogers is an author, financial commentator and successful
international investor. He has been frequently featured in Time, The New
York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The
Financial Times and is a regular guest on Bloomberg and CNBC.*
CNBC Video: Global Market Outlook
Admin at Marc Faber Blog - 11 hours ago
*Marc Faber is an international investor known for his uncanny predictions
of the stock market and futures markets around the world.*California Gas Price Hits Record $4.614 Per Gallon
We have covered the great California gas rush in the past few days, and here is the confirmation. According to the AAA fuel gauge report, the average California gas price just hit an all time record of $4.614, and shows no sign of slowing down.Rosenberg On The Unemployment Rate: "If It's Too Good To Be True, Then It Probably Is"
Much has been said about yesterday's laughable jobs report. Here is a little more, only this time not from some politicized CTRL-C/CTRL-V major who was forced to take out the HP-12C for the first time from their storage closet and pretend they have any idea about finance and economics, but from David Rosenberg.
Why Spain Is A Riot
Over
the past few weeks, Spain has received worldwide attention due to its
deteriorating economy and growing outbursts of massive social protests.
Most notably, US presidential candidate Mitt Romney said in his debate
with President Barack Obama last week that he did not want his country
to “go down the path to Spain.” As the world fixes its eyes on the
eurozone’s fourth largest economy, analysts continue to offer
suggestions as to how to best tackle the Iberian country’s economic
woes. However, the reason why Spain is a riot both financially and
socially goes beyond matters of economic policy. Spain faces a graver
problem, its political institutions. Perhaps the most lamentable element
in Spain’s political class is that it is hard, almost anecdotal, to
find elected officials with a track record outside the public sector.
For too many years, the country has been governed by bureaucrats who
have no experience whatsoever in the real world of business. The
majority of Spain’s politicians do not know what it is to conceive an
idea, to risk one’s own wealth, to deal with banks, workers and
suppliers, and, ultimately, to experience failure and success. Sadly,
the Spanish taxpayer-financed political establishment understands
failure and success only in terms of which side of the aisle their
members are seated in parliament.Banker: A Lawyer's Greatest... Enemy?
Back in October of 2010, when we first exposed Bank of America as massively underreserved for putback, Rep and Warrant and various other forms of litigation, we predicted that once the precedent is set for ever escalating litigation against transgressions banks committed in the Old Normal (the biggest of which was the worst M&A deal of all time: BofA buying Countrywide and with it hundreds of billions in contingent liabilities), very soon banks would be swamped with a tsunami of litigation. And after all, it's only "fair" - the banking industry would not exist if its wasn't for the Fed and government's bailout and backstop of tens of trillions in liabilities at the peak. Now it's time for some "wealth redistribution" - only instead of said government-funded wealth tricking down to the common man, the only social group set to benefit are America's lawyers. Fast forward two years to October 2012, and what we predicted is precisely what has happened. As the chart below shows various "environment charges" aka charges related to mortgage put-backs, legal and foreclosure related issues, have soared to a record 16% of pre-provision earnings. As Goldman calculates, this is reducing EPS and returns by an average 17%! Where it this "profit" going? Mostly to various class cation suit organizing law firms and to pay for $800/hour legal retainers.
from Testosterone Pit.com:
Deceptive calm and optimism have settled on the German financial
markets. Chancellor Angela Merkel is preparing to go to Greece next week
to meet with Prime Minister Antonis Samaras—her first visit to Greece
since 2007, long before the crisis had broken out. He’d already praised
her for saying “that her heart was bleeding” at the sight of the
suffering Greeks, or at the sight of herself with Hitler mustache and
Nazi uniform in Greek tabloids. She’ll be noisily welcomed.
Perhaps she is trying to mend fences because Germany, after hyperventilating for two years about its superior economic model, is worried about the economy, and about its export markets, and above all, about the election next year. It would be a heck of a lot easier for her to hang on to power if Germany isn’t in a deep recession by then because exports dried up.
Read More @ TestosteronePit.com
Deceptive calm and optimism have settled on the German financial
markets. Chancellor Angela Merkel is preparing to go to Greece next week
to meet with Prime Minister Antonis Samaras—her first visit to Greece
since 2007, long before the crisis had broken out. He’d already praised
her for saying “that her heart was bleeding” at the sight of the
suffering Greeks, or at the sight of herself with Hitler mustache and
Nazi uniform in Greek tabloids. She’ll be noisily welcomed.Perhaps she is trying to mend fences because Germany, after hyperventilating for two years about its superior economic model, is worried about the economy, and about its export markets, and above all, about the election next year. It would be a heck of a lot easier for her to hang on to power if Germany isn’t in a deep recession by then because exports dried up.
Read More @ TestosteronePit.com
by Dan Amoss, Daily Reckoning.com.au:
The stock market will not remain in its current tranquil state. Investors will soon be roused from their blissful trance.
This trance traces its origins back to the mass self-delusion that central banks can revitalize multi-trillion-dollar economies, simply by prodding investors into stocks and other “risk assets.”
Investing is not that simple. The comparison between bond yields and stock yields – two completely different investments – has become absurd.
Bonds are contracts involving a fixed stream of cash flows and a predetermined maturity date. Stocks are claims on highly uncertain streams of future free cash flows that often stretch out for decades.
Read More @ DailyReckoning.com.au
The stock market will not remain in its current tranquil state. Investors will soon be roused from their blissful trance.This trance traces its origins back to the mass self-delusion that central banks can revitalize multi-trillion-dollar economies, simply by prodding investors into stocks and other “risk assets.”
Investing is not that simple. The comparison between bond yields and stock yields – two completely different investments – has become absurd.
Bonds are contracts involving a fixed stream of cash flows and a predetermined maturity date. Stocks are claims on highly uncertain streams of future free cash flows that often stretch out for decades.
Read More @ DailyReckoning.com.au
by Annika Breidthardt, Reuters via Yahoo News:
German Chancellor Angela Merkel will make her first visit to Greece next week since the euro zone debt crisis erupted, in a show of support for Athens after it said it would run out of money at the end of November without fresh international aid.
Greek Prime Minister Antonis Samaras hailed the trip as a positive development at a time when his country is locked in negotiations with euro zone and IMF creditors who are holding back some 31.5 billion euros ($41 billion) in urgently needed loans.
“The key is liquidity. That is why the next credit tranche is so important for us,” Samaras told the German business daily Handelsblatt. Asked how long Greece could manage without it, he said: “Until the end of November. Then the coffers are empty.”
Read More @ News.Yahoo..com
German Chancellor Angela Merkel will make her first visit to Greece next week since the euro zone debt crisis erupted, in a show of support for Athens after it said it would run out of money at the end of November without fresh international aid.
Greek Prime Minister Antonis Samaras hailed the trip as a positive development at a time when his country is locked in negotiations with euro zone and IMF creditors who are holding back some 31.5 billion euros ($41 billion) in urgently needed loans.
“The key is liquidity. That is why the next credit tranche is so important for us,” Samaras told the German business daily Handelsblatt. Asked how long Greece could manage without it, he said: “Until the end of November. Then the coffers are empty.”
Read More @ News.Yahoo..com
Two
separate events across two of the biggest nations in the world are
currently influencing the buying patterns of retail gold as well its
prices on the bourses.
by Shivom Seth, MineWeb.com
In India, the country plays host this fortnight to the mourning period
for dead ancestors (Shraadh) in a period which is generally considered
highly inauspicious for starting anything new, like buying a house,
getting married or even buying gold.
In neighbouring China, on the other hand, the Golden Week holidays are on (Sept 30-Oct 7). The time is ripe for retailers to roll out the incentives, which is leading to a massive jump in sales across bullion counters.
One would have thought that the inauspicious nature of the fortnight in India would have led to a massive decline in gold sales, casting a shadow on the purchase of gold jewellery. However, the contrary is true.
Read More @ MineWeb.com
by Shivom Seth, MineWeb.com
In India, the country plays host this fortnight to the mourning period
for dead ancestors (Shraadh) in a period which is generally considered
highly inauspicious for starting anything new, like buying a house,
getting married or even buying gold.In neighbouring China, on the other hand, the Golden Week holidays are on (Sept 30-Oct 7). The time is ripe for retailers to roll out the incentives, which is leading to a massive jump in sales across bullion counters.
One would have thought that the inauspicious nature of the fortnight in India would have led to a massive decline in gold sales, casting a shadow on the purchase of gold jewellery. However, the contrary is true.
Read More @ MineWeb.com
by Dr. Paul Craig Roberts, PaulCraigRoberts.org:
October 5. Today’s employment report from the Bureau of Labor
Statistics shows 114,000 new jobs in September and a drop in the rate of
unemployment from 8.1% to 7.8%. As 114,000 new jobs are not sufficient
to stay even with population growth, the drop in the unemployment rate
is the result of not counting discouraged workers who are defined away
as “not in the labor force.”
According to the BLS, “In September, 2.5 million persons were marginally attached to the labor force.” These individuals “wanted and were available for work,” but “they were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.”
In other words, 2.5 million unemployed Americans were not counted as unemployed.
Read More @ PaulCraigRoberts.org
October 5. Today’s employment report from the Bureau of Labor
Statistics shows 114,000 new jobs in September and a drop in the rate of
unemployment from 8.1% to 7.8%. As 114,000 new jobs are not sufficient
to stay even with population growth, the drop in the unemployment rate
is the result of not counting discouraged workers who are defined away
as “not in the labor force.”According to the BLS, “In September, 2.5 million persons were marginally attached to the labor force.” These individuals “wanted and were available for work,” but “they were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.”
In other words, 2.5 million unemployed Americans were not counted as unemployed.
Read More @ PaulCraigRoberts.org
from, Silver Underground:
For decades, the corporate media industrial complex has controlled
public opinion. Technological limitations and central bank inflation
made media distribution too expensive for most small companies, and only
the subsidiaries of massive parent corporations with direct or indirect
access to the discount window at the Fed could possibly afford to get a
message out to the general public. Regulatory agencies controlled
access to the airwaves, doling out channels to a select few companies.
Meanwhile, cable providers created regional monopolies with the help of
special contracts from local and state governments. The end result was a
climate where a handful of gatekeepers controlled the media, choosing
what would be broadcast and denying coverage to content that deviated
from their agenda.
The internet, however, is changing all this. In smaller countries, the information revolution has already tipped the balance of power into the hands of the people. The Arab Spring burst forth from Twitter and Facebook as people gathered together, shared information using alternative media outlets, and cast off dictators. While America’s printing presses are still keeping the old system glued together for now, evidence is mounting that the corporate media industrial complex is about to lose grip on the world’s hegemon, the United States. When it does, a people-powered and robust array of alternative media sources will provide the news, rather than a handful of corporations in bed with the government.
Read More @ Silver Underground
Donations will help defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.
For decades, the corporate media industrial complex has controlled
public opinion. Technological limitations and central bank inflation
made media distribution too expensive for most small companies, and only
the subsidiaries of massive parent corporations with direct or indirect
access to the discount window at the Fed could possibly afford to get a
message out to the general public. Regulatory agencies controlled
access to the airwaves, doling out channels to a select few companies.
Meanwhile, cable providers created regional monopolies with the help of
special contracts from local and state governments. The end result was a
climate where a handful of gatekeepers controlled the media, choosing
what would be broadcast and denying coverage to content that deviated
from their agenda.The internet, however, is changing all this. In smaller countries, the information revolution has already tipped the balance of power into the hands of the people. The Arab Spring burst forth from Twitter and Facebook as people gathered together, shared information using alternative media outlets, and cast off dictators. While America’s printing presses are still keeping the old system glued together for now, evidence is mounting that the corporate media industrial complex is about to lose grip on the world’s hegemon, the United States. When it does, a people-powered and robust array of alternative media sources will provide the news, rather than a handful of corporations in bed with the government.
Read More @ Silver Underground
by Brittany Stepniak, Wealth Wire:
If you’ve picked up on all our subtle hints to buy silver before it
hits $50, congratulations. You’ve taken a giant leap in the right
direction – hedging the coming inflation crisis, economic uncertainty,
and currency debasement.
But your job isn’t done yet…
Many investors like you have become increasingly concerned with the poor handling and safekeeping of their precious silver. Perhaps you’ve heard the unfortunate victims’ tales of treachery at the bank. Stories of investor bullion being seized from their personal storage safes and handed over to the government.
Combine that with the everyday threat of burglary from other offenders, and you can see why many investors are seeking a safe alternative.
Read More @ WealthWire.com
Please Donate
If you’ve picked up on all our subtle hints to buy silver before it
hits $50, congratulations. You’ve taken a giant leap in the right
direction – hedging the coming inflation crisis, economic uncertainty,
and currency debasement.But your job isn’t done yet…
Many investors like you have become increasingly concerned with the poor handling and safekeeping of their precious silver. Perhaps you’ve heard the unfortunate victims’ tales of treachery at the bank. Stories of investor bullion being seized from their personal storage safes and handed over to the government.
Combine that with the everyday threat of burglary from other offenders, and you can see why many investors are seeking a safe alternative.
Read More @ WealthWire.com
by Staff Report, TheDailyBell.com
Noel
Polanco, Unarmed Man Killed By NYPD, Was National Guardsman … An
unarmed 22-year-old man shot and killed by a New York City police
officer during a traffic stop in Queens Thursday morning was a member of
the New York Army National Guard, authorities said. Police said Noel
Polanco was speeding and driving erratically near LaGuardia Airport just
after 5 a.m. when he was pulled over by officers. New York Police
Department sources initially told news outlets that as two officers
approached the car, Polanco reached under his seat, prompting Detective
Hassam Handy to shoot him once in the stomach. Polanco died shortly
after being taken to a nearby hospital. – Huffington Post
Dominant Social Theme: Police officers are serious people and crime is a serious occurrence. In America, you can die even if you just go a little bit over the speed limit, or if law enforcement believes you might have been doing so.
Free-Market Analysis: This is a sad article posted at the Huffington Post but we have given this article a foolish and insensitive title to show how easy it is to get inured to this kind of police brutality.
Read More @ TheDailyBell.com
YOU ARE the threat, according to the U.S. Army
from MOXNEWSd0tC0M:
Noel
Polanco, Unarmed Man Killed By NYPD, Was National Guardsman … An
unarmed 22-year-old man shot and killed by a New York City police
officer during a traffic stop in Queens Thursday morning was a member of
the New York Army National Guard, authorities said. Police said Noel
Polanco was speeding and driving erratically near LaGuardia Airport just
after 5 a.m. when he was pulled over by officers. New York Police
Department sources initially told news outlets that as two officers
approached the car, Polanco reached under his seat, prompting Detective
Hassam Handy to shoot him once in the stomach. Polanco died shortly
after being taken to a nearby hospital. – Huffington PostDominant Social Theme: Police officers are serious people and crime is a serious occurrence. In America, you can die even if you just go a little bit over the speed limit, or if law enforcement believes you might have been doing so.
Free-Market Analysis: This is a sad article posted at the Huffington Post but we have given this article a foolish and insensitive title to show how easy it is to get inured to this kind of police brutality.
Read More @ TheDailyBell.com
YOU ARE the threat, according to the U.S. Army
from MOXNEWSd0tC0M:
Donations will help defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.
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