They say the best defense is a good offense, but sometimes it’s the exact opposite. If you have a good defense, you don’t need to worry about what offense the other team has. Such is the case with the coming financial collapse.
Readers of this publication will know by now that the collapse of the current global financial order is a mathematical certainty at this point. You will also be familiar with how the banksters plan to use the chaos created in the wake of that collapse to re-order the financial, monetary, and political system to further consolidate their control over world affairs. This is the “problem-reaction-solution” idea that has been articulated at length in the alternative media of late, whereby the very people who are in the position to cause the problem (the banksters rigging the markets, creating the debt bubbles, puppeteering the bailouts, and performing the quantitative easing) are in the position to benefit from the proposed “solutions” to these problems (deepening of international monetary controls, deepening of political and monetary integration between nations, steps toward global government and one world financial system, implementation of total surveillance cashless society). In this case, all they have to do is create the chaos by crashing the system and the public will soon be clamoring for the banksters and their political puppets to “save” them from the collapse.
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He is also concerned that quantitative easing, or the purchase by the Bank of England of government debt, may be becoming less and less effective in promoting a recovery.
So the City’s top regulator, who is seen as one of the two leading candidates to be the next governor of the Bank of England, says that the government and the Bank may have to consider new unorthodox policies to overcome what he calls the powerful economic headwinds.
Although he does not make explicit what he means by these innovations, it is understood he believes the Bank of England should consider telling the Treasury it never has to repay some of the £375bn of government debts the Bank acquired through quantitative easing – which many conventional economists would regard with horror, because it would be seen as the government, in effect, printing money to finance public spending.
Read More @ BBC.co.uk
When the topic of public suicides in Europe comes to mind, the natural instinct in the past several years has been to immediately think Greece, which has not only seen its suicide rate explode due to the never-ending economic depression, but witnessed a variety of activists take their lives in hopes, so far unmet, of enacting some form of political and social upheaval. Which is why it comes as a major surprise that the latest public self-immolation just took place not in Syntagma Square but in front of the German Reichstag. "Hundreds of tourists and Berliners on Saturday became eyewitnesses to a spectacular suicide in front of the Reichstag building. A 32-year-old Berliner stabbed himself in the chest according to police at noon at the main entrance of the Reichstag. He then doused himself with a flammable liquid and set fire to himself. Passersby alerted the police and rescue workers. They tried in vain to resuscitate the man. He succumbed to his injuries on site yet."
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Presented with little comment, except to say - it seems, as Boaz at EminiAddict points out, that the S&P 500 likes to travel around 808 points from swing low to swing high. Extending the analog suggests a drop to 565 on the S&P 500 by mid-2014.
While we already know that 59-year-old (current Vice-President) Xi Jinping will become China's next President a mere two days after the US votes; the political and economic challenges he will face makes the appointment in the midst of structural upheaval a considerable 'unknown' for the many Western investors trying to decipher the CCP/PBoC's next steps (fiscally or monetarily). Stratfor's Colin Chapman and Rodger Baker succinctly discuss what we know about Xi Jinping and what the implications are for faster reform as the nation faces the end of the current economic model. Everything you wanted to (and need to) know about China's transition but were too tired to read.
The IMF's World Economic Outlook (WEO) provided a plethora of data, trends, and extrapolations for investors to prognosticate upon. One that caught our eye is the rising trend of the 27 Developing Asian economies as a share of World GDP. Bloomberg's Chart of the Day notes that by the end of 2012, Developing Asia will account for 17.9% of World GDP - trumping, for the first time - Europe's 17-nation 16.9% share. The euro-area crisis has merely accelerated a trend that has been ongoing for several years - and we suspect, as former IMF board member Domenico Lombardi notes, makes it clear that euro-area economies need to address their structural reforms rapidly. America should not be too complacent however, as while China will top Europe by 2017 (as a share of global GDP), USA will welcome its own overlords in five short years when Developing Asia will have topped the USA for the first time ever.
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Sorry, but history didn’t end sometime between your birth and your breakfast today…
BACK in 2009 when Barack Obama received the Nobel Peace Prize just nine months after becoming US president, he said he felt “surprised” and “deeply humbled”.
No such shock and awe today for the European Union’s unelected leaders, of course. Self-assurance and pride are now the EU’s hallmarks, at least at the executive level. But its shiny new Nobel Peace Prize risks just the same historical irony.
“Mr. Obama decimated Al Qaeda’s leadership,” as Peter L.Bergen noted in the New York Times this spring. “He overthrew the Libyan dictator. He ramped up drone attacks in Pakistan, waged effective covert wars in Yemen and Somalia and authorized a threefold increase in the number of American troops in Afghanistan. He became the first president to authorize the assassination of a United States citizen, Anwar al-Awlaki…And, of course, Mr. Obama ordered and oversaw the Navy SEAL raid that killed Osama bin Laden.”
Read More @ GoldSeek.com
We are told that this Presidential election is the most important in 50 years. One nationally prominent Christian Right columnist has written that this is the most important Presidential election in the history of the United States.
How could anyone know if this is the most crucial election? You might think that it would be possible to assess this by looking at the #1 issue of this election, and then compare it with the #1 issue that some previous election settled. Unfortunately, this is not possible. It is not possible for two reasons. First, we do not know the future. Second, because Presidential elections are never fought over a crucial dividing issue that proves to have been divisive after the election is settled.
Here is a list of crucial issues in American political life today. Which of these is central to the campaign?
Read More @ LewRockwell.com
The KWN Weekly Metals Wrap – We have added new segments to the KWN Weekly Metals Wrap covering gold, silver, trading and a plethora of other factors affecting the precious metals markets. I am giving King World News listeners globally access to what has long been my secret weapons in researching where gold and silver are headed directionally along with the COT Report. We Cover the Commitment of Traders Report in detail as well as a number of other factors which can influence the gold and silver market price action.
Bill Haynes and Dan Norcini AUDIO INTERVIEW @ KingWorldNews.com
While electoral politics tends to suck the oxygen out of the room (and apparently out of many people’s brains) in these last few weeks before an election, a number of U.S. citizens committed to ending the wars took to the streets this week. Demonstrations in at least 38 cities in the U.S. as well as in some foreign countries — most notably Code Pink’s courageous peace march in Pakistan — are marking the 11th year anniversary of the longest war in U.S. history.
Veteran Michael Prysner accurately described the heartbreak of the current situation in Afghanistan as a “lost war and pointless mission” that is now sacrificing “life and limb for (nothing but) a slow-motion retreat” for politicians and generals to save face. The broader situation throughout the Middle East appears bleaker still inasmuch as the original congressional Authorization for Use of Military Force (AUMF) that began the war on Afghanistan has been expansively interpreted to now encompass covert “special forces operations”, cyber warfare, and drone bombing in at least five other countries. Additionally the recent National Defense Authorization Act even allows indefinite detentions of American citizens.
Read More @ OpedNews.com
Take the circus that is currently in town — national politics. What an embarrassment to the people of this country. As much as we try to ignore the situation, the political farce smears itself all over us. Slipper, Gillard, Abbot and all the rest of them…all completely unfit to represent this country.
On Lateline last night we watched host Tony Jones waste about 20 minutes of everyone’s time interviewing the world’s best treasurer, Wayne Swan. Swan ignored just about every question, his responses were an insult to Jones and the people WHO PAY THIS MAN’S WAGE — the Australian taxpayer.
Read More @ DailyReckoning.com.au
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