Environmental Protection Agency officials confirmed 99 of 135 beta-radiation sensors in its RadNet system—which monitors in all 50 states, the District of Columbia and Puerto Rico—aren’t working and have been turned off. Officials blame electromagnetic interference from sources such as cellphone towers and said efforts to resolve the problem have been unsuccessful. – See more at: http://nukeprofessional.blogspot.com/…
Nearly four years after a major tsunami created the massive tidal wave that destroyed much of Japan’s Fukushima nuclear power complex in the northern part of the country, spewing radioactive waste into the air and surrounding Pacific Ocean, the truth about the after-effects of that disaster continue to reside in the shadows.
For example, one of the most under-reported stories of all pertaining to the disaster — and one that should be of particular interest to Americans — is the fate of a number of crewmembers aboard the USS Ronald Reagan, the U.S. Navy carrier sent to assist Japanese military and civilian authorities in the immediate aftermath of the quake.
Eighty-one major corporations with operations in the U.S.–including Google, Facebook, Apple, Coca Cola and General Motors–have taken a White House pledge “to demonstrate their support for action on climate change and the conclusion of a climate change agreement in Paris that takes a strong step forward toward a low-carbon, sustainable future.”
Signing the White House’s American Business Act on Climate Change Pledge shows a continuing commitment to action preventing global warming and is intended to set an example for other companies to pursue similar policies, according to a statement released by the White House.
It also shows the signatories’ support for the 2015 United Nations Climate Change Conference, which will be held this November in Paris. “The Pledge…voices support for a strong outcome in the Paris climate negotiations.”
The 81 companies “have operations in all 50 states, employ over 9 million people, represent more than $3 trillion in annual revenue, and have a combined market capitalization of over $5 trillion,” the White House said.
Local St. Louis area residents are demanding to know what the government is doing about an underground fire at the Bridgeton, Missouri Landfill that could soon reach 1940’s atomic bomb production waste that is being stored in the landfill.
An underground fire that has been smoldering for the last five years is now only 1,000 feet from the radioactive waste that was buried on the site illegally in 1973. The landfill. which is owned and operated by Republic Services Inc., contains two highly-radioactive operable units (OU-1 and OU-2), both of which contain radioactive material. Soil samples from the dump have shown the presence of barium sulfate cake, Uranium and Thorium.
- Are you afraid that the government is plotting to confiscate your firearms?
- Do you display an unusual number of political and/or ideological bumper stickers on your car?
As such, you are now viewed as a greater threat to America than ISIS or al Qaeda.
Let that sink in a moment.
The IMF fears underfunded pension funds could be encouraged to chase returns through riskier investments such as direct credit exposure or by engaging in securities lending in order to improve their funding ratios….The IMF’s comments echoed similar warnings from the OECD in May, when the Paris-based body said pension funds’ move towards riskier asset classes could result in their solvency position being “seriously compromised” in turbulent markets. The Financial Times
Yesterday I published a post in which I outlined the reasons why pension fund underfunding is likely much worse than the level admitted by the funds themselves and industry professionals. The biggest culprit is “mark to market” of illiquid investments into which pension managers have “shoe-horned” themselves in order to give the appearance of rates of return that are higher on paper than in reality. A good friend and colleague of mine, who happens to be very bright, had this comment in response to my post:
We just got more evidence that the middle class in America is dying. According to brand new numbers that were just released by the Social Security Administration, 51 percent of all workers in the United States make less than $30,000 a year. Let that number sink in for a moment. You can’t support a middle class family in America today on just $2,500 a month – especially after taxes are taken out. And yet more than half of all workers in this country make less than that each month. In order to have a thriving middle class, you have got to have an economy that produces lots of middle class jobs, and that simply is not happening in America today.
You can find the report that the Social Security Administration just released right here. The following are some of the numbers that really stood out for me…
Brien Lundin from Gold Newsletter joins me to discuss the Fed’s only remaining bullet, further debasement of the fiat currency. Of course for those who understand what “debasement” is code for, it means that ultimately we will see hyperinflation of the US dollar.
The only question is, when will it start? As Brien points out “Of course It depend on how you define hyperinflation… Since they removed silver from US coinage, the US dollar has lost about 90 percent of its purchasing power. So by some people’s definitions of hyperinflation we have already seen that.” Brien reminds us that the only way to protect yourself from the Federal Reserve’s currency debasement is with physical gold and silver
RADICATING BLANK SPACES on maps of the “dark continent” was an obsession of Western powers during the 19th-century scramble for Africa. Today, a new scramble is underway to eradicate a different set of blank spots. The U.S. military has, since 9/11, engaged in a largely covert effort to extend its footprint across the continent with a network of mostly small and mostly low-profile camps. Some serve as staging areas for quick-reaction forces or bare-boned outposts where special ops teams can advise local proxies; some can accommodate large cargo planes, others only small surveillance aircraft. All have one mission in common: to eradicate what the military calls the “tyranny of distance.” These facilities allow U.S. forces to surveil and operate on larger and larger swaths of the continent — and, increasingly, to strike targets with drones and manned aircraft.
Last week, we wrote Green Light For Silver in which we stated that “Silver looks like it has bottomed and will move substantially higher.” In summary:
- The long-term silver to gold ratio is a good indicator of bottoms in silver prices. That ratio was recently exceptionally low and appears to be climbing. Expect higher silver prices.
- In the long-term, whether you start in 1913, 1971, or the year 2000, silver prices, on average, follow the US national debt. Currently silver prices are far too low compared to that debt. We all know the national debt is exponentially increasing and therefore we should expect silver prices to substantially increase from here to “catch up” with the dramatically increasing debt.
If you can sum up the sentiment among the American public in two words it would be economic frustration. The public is frustrated that inflation is eating away at the quality of life many have come to expect. While families don’t need bankers or politicians to tell them about this, it is especially infuriating when the Fed and other policy makers jabber on that inflation is very low. From 2000 onward the cost of housing, healthcare, and education has far outstripped any true income gains. In other words households are feeling poorer because they are. And we are living under a two income household trap as well. The only reason people feel like they are keeping up is having dual lower wage earners. Social Security data highlights an economy that is doing a great job of producing low wage jobs. The two income trap is also magnified because little is discussed about the cost of raising children (it is extremely expensive when you factor in daycare and then try to save for college). The myth of US high wages is slowly taking a hit and the public is becoming more aware.
Dear Friend of GATA and Gold:
Did Peter Mooslechner, an executive director of Austria’s central bank, interviewed this week by Daniela Cambone of Kitco News on the sidelines of the London Bullion Market Association conference in Vienna, say that Asian central banks are using their gold reserves for market intervention?
That’s what Mooslechner seems to have said, even as Cambone had not asked particularly about gold market intervention and did not pick up on his comment.
At the 1:16 mark in the interview —
As Popeye used to say, “that’s all I can stands, I can’t stands no more.” As the former “Ranting Andy” – a name, I might add, given to me by Bill Murphy of GATA circa 2009, following countless emails regarding my frustration about mining stocks – I have my limits, too. And fortunately, a wealth of knowledge to back it up – garnered over 13½ years of intensive research.
To wit, when I refer to “long-time” readers, I am not connoting those that started reading when I joined Miles Franklin four years ago, in October 2011. No, I am referring to my “GATA days” – as from roughly 2004 through 2011, my daily commentaries, as always, published for free, were posted on the great GATA website. In my view, the “GATA army” – led by its “All-Pro Team” of manipulation-exposing crusaders – is one of the most positive forces of financial truth the world has known – certainly, in today’s age of epic journalistic irresponsibility. Moreover, its principals, Bill Murphy and Chris Powell, are two of the great economic patriots of the 21stcentury. To that end, the relationships I built in the decade-plus I have been associated with it – culminating with “Admiral Sprott” citing my work in his keynote speech at GATA’s August 2011 conference in London – have not only formed the backbone of my life’s work, but positioned me to do so at perhaps the world’s most value-added bullion dealer.
A gutless, cowardly population that accepts mass murder of women and children and destruction of countries without protest and sits and watches, without intervening, as criminal cops murder unarmed citizens and black thugs inflict brain trauma on women.
The behavior of these two black thugs is part of the reason that the white population in general more or less cheers when cops murder and brutalize blacks. But the question is: why was there no intervention by the bystanders against this young thug? Are people intimidated by the arrogant behavior of predator cops and thugs?
If so, they should remember that there is strength in numbers. Perhaps Americans could find
courage and determination in this rout of a pride of lions by water buffalo. https://www.youtube.com/watch?v=LU8DDYz68kM
Read More @ PaulCraigRoberts.org
Nothing much to report from the stock market yesterday. Investors are regaining their calm.
A few weeks ago, it looked as though the end of the world had begun.
We are talking, of course, about the world in which credit, stocks, and central bank reputations only go up.
But after a big fright in August, investors recovered their relaxed madness. They concluded that there was nothing to worry about.
It will not take decades for China to become the world’s second or primary world reserve currency as seen by Douglas Flint, group chairman of HSBC Holdings plc. But the rest of his analysis in the following article makes for a worthy read. In addition, reserve currency usage isn’t the only dynamic to consider because Chinese renminbi use in trade (not just “hanging out” as reserves of governments/central banks/sovereign wealth funds and shifted modestly as said governments conduct trade, etc.) will rise to #2 and then, #1 trade usage status in less than a decade at the rate we’re going. – Eric Dubin, Managing Editor, The News Doctors
Submitted by Tyler Durden on 10/21/2015 - 22:30 America is not Greece, but judging from the Obama administration's just-unveiled plans to bailout Puerto Rico's disastrous debt situation, the American territory may have to sacrifice a little more sovereignty to get some relief. Obama is pressing for Congress to give Puerto Rico (PR) sweeping powers to reduce its $73 billion debt burden through a form of bankruptcy protection not now available to American territories and will also ask lawmakers to establish an independent body to monitor the island’s fiscal affairs (a la Troika).
Submitted by Tyler Durden on 10/21/2015 - 21:47 Tomorrow morning Mario Draghi is widely expected to if not announce an extension, or expansion, of the ECB's QE program, than to at least jawbone sufficiently, and push the EURUSD lower from its recently anchored level in the 1.10-1.20 range. But what are the specifics of Draghi's announcement: will he merely expand the monetization limit per security, as he did in early September, will he increase the universe of eligibile securities, or will he simply extend the maturity of the non-open ended QE from September 2016 to some indefinite date? The following list, courtesy of Bloomberg, summarizes what the sellside universe believes Draghi will unveil in just under 12 hours.
China Calms Fears, Says "Stock Plunge Is Normal Correction" As Panic-Buying Resumes On Japanese OpenSubmitted by Tyler Durden on 10/21/2015 - 21:35 After last night's bloodbathery in China, analysts and officials are out en masse to ensure a newly re-leveraged Chinese investors that the "stock plunge is a normal correction." Disappointingly, Chinese stocks are barely bouncing at the open, which is not what we can say for Japan, where the mysterious uneconomic panic-buyer-of-first-resort appeared once again and smashed the Nikkei 225 200 points higher at the open (after weakness in the US).
Submitted by Tyler Durden on 10/21/2015 - 21:20 Much like the NBS will obscure any weakness below 7% in China’s GDP data, the PBoC will do “whatever it takes” (central bank pun fully intended) to make sure the market doesn’t get wind of the fact that there’s still a tremendous amount of pressure in terms of capital outflows. As Bloomberg reports, "The People’s Bank of China and local lenders increased their holdings in onshore forwards to $67.9 billion in August, positions that would boost China’s currency against the dollar. The amount is five times more than the average in the first seven months."
Submitted by Tyler Durden on 10/21/2015 - 20:50 Paul Volcker announced his intention to squeeze inflation out of the system soon after he became Fed chairman. Too bad he didn’t save a better system. Not many men can resist the appeal of free money. Americans proved they were no better at it than others. Falling interest rates and the paper dollar gave them a way to impoverish themselves – by spending money they hadn’t earned. They took the opportunity offered to them. They borrowed and spent... and drove the entire world forward at a furious pace. But now that stage is over.
Submitted by Tyler Durden on 10/21/2015 - 20:17 The "very serious people" are starting to get nervous, because while most other "commodities" have seen their prices plummet in the biggest crash since Lehman, gold just went green for the year. Enter Goldman Sachs: "While our base case remains for higher US real rates and lower gold prices, there are significant risks that our forecast for gold price weakness is pushed out, should the Fed surprise us and remain on hold in December."
Submitted by Tyler Durden on 10/21/2015 - 19:50 Today’s task for the Republican establishment... Between now and March, they must settle on a candidate, hope his rivals get out of the race, defeat Trump in one of the first two contests, or effect his defeat by someone like Carson, then pray Trump will collapse like a house of cards. The improbabilities of accomplishing this grow by the week, and will soon start looking, increasingly, like an impossibility - absent the kind of celestial intervention that marked the career of the late Calvin Coolidge.
Submitted by Tyler Durden on 10/21/2015 - 19:50 The Founding Fathers of the United States revolted over taxation without representation. We are back to that now, for we are being taxed to pay interest to service debts from the last two generations. We had no right to vote on that spending, which took place before we were born. This is not a democratic process.
Submitted by Tyler Durden on 10/21/2015 - 19:20 If you’re looking to close on an M&A deal, now might be the time to do it before the cost of capital starts to rise. Sure, “liftoff” might have been delayed by a month (or 12) but you have to do your due diligence and make sure there are enough synergies to make it worth everyone’s time and effort. We suppose that helps to explain why, according to the Russian Defense Ministry, ISIS and al-Qaeda are contemplating a merger in the face of, how shall we say, “new entrants” in the race for Syrian market share.
Scientists in Bangladesh are preparing to conduct field tests of Golden Rice, the world’s first genetically engineered, vitamin A-enriched rice, before putting into production. The crop is being touted as one answer to the problem of micronutrient deficiencies around the world, but an Indian scientist (among others) is warning that Golden Rice poses a serious threat to human health. 
According to the Golden Rice Project, vitamin A deficiency is prevalent among the poor whose diets are primarily composed of rice and other carbohydrate-rich foods containing too few micronutrients. The situation is especially dire in Southeast Asia and Africa. About 250 million preschool children are affected by vitamin A deficiency (VAD). The group says that providing children with vitamin A could prevent about a third of all under-5 deaths.