We are living through the death throes of an empire. For those citizens who understand what is occurring, the process is akin to being trapped in a taxicab where the meter is on and running at an infinite pace. We cannot get out; nor will we be able to pay when the bill is submitted.
Government Duplicity
The duplicity and outright lies of government are becoming more apparent. There are too many to list here. Here are a few:
- Favorable forecasts regarding the economy are cruel jokes to everyone, but especially to those unemployed and underemployed. The country is told that the economy is out of the woods and on its way, recovering from the worst recession since the 1930s. No one with an IQ higher than room temperature or the ability to see should believe that.
from The Economic Collapse Blog:
Beware
of bubbles of false hope. Right now there is a lot of talk about how
the U.S. economy is improving, but it is all a lie. The mainstream
media can be very seductive. When you sit down to watch television your
brain tends to go into a very relaxed mode. In such a state, it
becomes easy to slip thoughts and ideas past your defenses. Sometimes
when I am watching television I realize what the media is trying to do
and yet I can still feel it happening to me. In this day and age, it is
absolutely critical that we all think for ourselves. When you look at
the long-term trends and the long-term numbers, a much different picture
of the U.S economy emerges than the one that is painted for us on
television. Over the long-term, the number of good jobs in America has
been steadily going down. Over the long-term, the number of Americans
living in poverty and living on food stamps has been steadily going up.
Over the past couple of decades, tens of thousands of businesses,
millions of jobs and trillions of dollars of our national wealth have
gone out of the country. Our debt is nearly 15 times larger than it was
30 years ago, and U.S. consumer debt has soared by 1700% over the past
40 years. Year after year the rate of inflation goes up faster than our
incomes do, and this is absolutely devastating the middle class.
Anyone who believes that we can keep doing the same things that we have
been doing and yet America will still have a bright economic future is
delusional. Until the long-term trends which are taking the U.S.
economy straight into the toilet are reversed, any talk of a bright
economic future is absolute nonsense.
Read More @ TheEconomicCollapseBlog.com
Beware
of bubbles of false hope. Right now there is a lot of talk about how
the U.S. economy is improving, but it is all a lie. The mainstream
media can be very seductive. When you sit down to watch television your
brain tends to go into a very relaxed mode. In such a state, it
becomes easy to slip thoughts and ideas past your defenses. Sometimes
when I am watching television I realize what the media is trying to do
and yet I can still feel it happening to me. In this day and age, it is
absolutely critical that we all think for ourselves. When you look at
the long-term trends and the long-term numbers, a much different picture
of the U.S economy emerges than the one that is painted for us on
television. Over the long-term, the number of good jobs in America has
been steadily going down. Over the long-term, the number of Americans
living in poverty and living on food stamps has been steadily going up.
Over the past couple of decades, tens of thousands of businesses,
millions of jobs and trillions of dollars of our national wealth have
gone out of the country. Our debt is nearly 15 times larger than it was
30 years ago, and U.S. consumer debt has soared by 1700% over the past
40 years. Year after year the rate of inflation goes up faster than our
incomes do, and this is absolutely devastating the middle class.
Anyone who believes that we can keep doing the same things that we have
been doing and yet America will still have a bright economic future is
delusional. Until the long-term trends which are taking the U.S.
economy straight into the toilet are reversed, any talk of a bright
economic future is absolute nonsense.Read More @ TheEconomicCollapseBlog.com
Gold Bottom Targets Trend To $4,000
There has been so much talk about gold and so little understanding of the reality behind the move in the price of the yellow metal over the last 90 plus days that I think it’s necessary to separate the wheat from the chaff. I want to discuss what gold has done, where it’s at now, and then end with where it’s going from here and postulate why it’s going to do what it will do. Right now you need to understand that gold is beginning the twelfth year of major bull market; perhaps the most unprecedented bull market in our lifetime. Here’s a quick snapshot of what that bull market has looked like since the 1999 bottom and the 2001 retest of that bottom:
Read More @ Gold-Eagle.com
David Rosenberg Explains What (If Anything) The Bulls Are Seeing
While we have long asserted that any attempt to be bullish this market (and economy) by necessity should at least involve the thought experiment of eliminating such pro forma crutches as trillions in excess liquidity from the Fed, not to mention direct and indirect intervention by the central planners in virtually all asset classes, which in turn drives frequent periods of brief decoupling between various geographies and asset classes (which always converge) and thus economic performance (because as Bernanke will tell you gladly, the economy is the market), an exercise which would expose a hollow facade, a broken market and an economy in shambles, in never hurts to ask just what, if anything, do the bulls "see" and how do they spin a convincing case that attempts to sucker in others into the great ponzi either voluntarily, or like in China, at gun point. Alas, our imagination is lacking for an exercise such as this, but luckily David Rosenberg has dedicated his entire letter to clients from this morning precisely to answer this question. So for anyone who is wondering just what it is that those who have supposedly "climbed the wall of worry" see, here is your answer.
German exports fall/Rumours of French downgrade/Huge gold imports into China/ ECB deposits of Euros at record levels again.
Good
evening Ladies and Gentlemen:
Gold closed up by $8.20 to 1639.20. Silver rose by 8 cents to $29.86.
Since the gold shares have languished all day today, it is almost a
certainty and the bankers will raid tomorrow. I urge you to please to do
play with these crooks. There are many facilities available to buy the
physical precious metals. The leverage business is now out so the only
way you
The Debt Limit Ceiling and Insanity
*"Insanity is doing the same thing over and over and expecting different
results." - Ben Franklin, Albert Einstein, et al...*
The debt spending by the Government - and even worse, the acceptance of it
by Taxpaying Americans - is completely insane - by any definition of the
word. But first I wanted to comment that yesterday I had speculated that
the cost of Bernanke's housing market support proposals sent to Congress a
week ago would cost Taxpayers in the range of $500 billion to one trillion
dollars. Barclays is out today saying that Bernanke's Fed alone is likely
to spend $500... more »
from DollarVigilante.com:
Looks like the Netherlands has a unique crime problem – it doesn’t have enough criminals! According to ncl.nl, “The Dutch justice ministry has announced it will close eight prisons and cut 1,200 jobs in the prison system. A decline in crime has left many cells empty.”
The Dutch have an amazing strategy for reducing crime that the US might want to imitate – they don’t make everything illegal! The Netherlands has long been known for their enlightened attitude towards drugs, prostitution and other “victimless crimes”. They treat such decisions as a matter of personal choice. No need for big brother to stick its nose in every nook and cranny sniffing for drugs.
On July 1, 2001, another country, Portugal, decriminalized all drugs including cocaine and heroin. The result? Drug usage and deaths due to drug usage decreased dramatically.
Read More @ DollarVigilante.com
Looks like the Netherlands has a unique crime problem – it doesn’t have enough criminals! According to ncl.nl, “The Dutch justice ministry has announced it will close eight prisons and cut 1,200 jobs in the prison system. A decline in crime has left many cells empty.”
The Dutch have an amazing strategy for reducing crime that the US might want to imitate – they don’t make everything illegal! The Netherlands has long been known for their enlightened attitude towards drugs, prostitution and other “victimless crimes”. They treat such decisions as a matter of personal choice. No need for big brother to stick its nose in every nook and cranny sniffing for drugs.
On July 1, 2001, another country, Portugal, decriminalized all drugs including cocaine and heroin. The result? Drug usage and deaths due to drug usage decreased dramatically.
Read More @ DollarVigilante.com
from End of The American Dream:
Is
your home secure? Are you absolutely sure? There are very few things
that are more terrifying than having your home invaded. In fact, many
people are never able to feel completely safe in a home again after it
has been invaded. Our homes are supposed to be our fortresses. They
are where we keep our families and our most cherished possessions safe.
Unfortunately, due to the declining economy the number of truly
desperate people out there continues to rise. When people become truly
desperate, they will often find themselves doing things that they never
dreamed that it would be possible for them to do. Hopefully the
shocking home invasion stories in this article will motivate you to take
action. We all need to learn how to protect ourselves and our
families. For a long time the incredible prosperity that we enjoyed in
this nation helped to mask the nightmarish moral decline that was taking
place. But now that hard times have hit, we are starting to see the
fabric of society come apart. All over the United States homes are
being invaded, and some of these home invasions are almost too creepy to
believe.
Once again, the goal is not just to scare you with these horror stories. Rather, the goal is to get you thinking about what you need to do in order to protect your homes and your families during the hard economic times that are coming.
Read More @ EndOfTheAmericanDream.com
Is
your home secure? Are you absolutely sure? There are very few things
that are more terrifying than having your home invaded. In fact, many
people are never able to feel completely safe in a home again after it
has been invaded. Our homes are supposed to be our fortresses. They
are where we keep our families and our most cherished possessions safe.
Unfortunately, due to the declining economy the number of truly
desperate people out there continues to rise. When people become truly
desperate, they will often find themselves doing things that they never
dreamed that it would be possible for them to do. Hopefully the
shocking home invasion stories in this article will motivate you to take
action. We all need to learn how to protect ourselves and our
families. For a long time the incredible prosperity that we enjoyed in
this nation helped to mask the nightmarish moral decline that was taking
place. But now that hard times have hit, we are starting to see the
fabric of society come apart. All over the United States homes are
being invaded, and some of these home invasions are almost too creepy to
believe.Once again, the goal is not just to scare you with these horror stories. Rather, the goal is to get you thinking about what you need to do in order to protect your homes and your families during the hard economic times that are coming.
Read More @ EndOfTheAmericanDream.com
by Dr. Paul Craig Roberts, PaulCraigRoberts.org:
Only the blind do not see that the US government is preparing to attack Iran. According to Professor Michel Chossudovsky, “Active war preparations directed against Iran (with the involvement of Israel and NATO) were initiated in May 2003.” http://www.globalresearch.ca/index.php?context=va&aid=28542
Washington has deployed missiles directed at Iran in its oil emirate puppet states, Oman and the UAE, and little doubt in the other US puppet states in the Middle East. Washington has beefed up Saudi Arabia’s jet fighter force. Most recently, Washington has deployed 9,000 US troops to Israel to participate in “war games” designed to test the US/Israeli air defense system. As Iran represents no threat unless attacked, Washington’s war preparations signal Washington’s intention to attack Iran.
Another signal that Washington has a new war on its agenda is the raised level of Washington’s rhetoric and demonization of Iran. Judging by polls Washington’s propaganda that Iran is threatening the US by developing a nuclear weapon has met with success. Half of the American public support a military attack on Iran in order to prevent Iran from acquiring nuclear capability. Those of us who are trying to awaken our fellow citizens start from a deficit that the minds of half of the US population are under Big Brother’s control.
Read More @ PaulCraigRoberts.org
Only the blind do not see that the US government is preparing to attack Iran. According to Professor Michel Chossudovsky, “Active war preparations directed against Iran (with the involvement of Israel and NATO) were initiated in May 2003.” http://www.globalresearch.ca/index.php?context=va&aid=28542
Washington has deployed missiles directed at Iran in its oil emirate puppet states, Oman and the UAE, and little doubt in the other US puppet states in the Middle East. Washington has beefed up Saudi Arabia’s jet fighter force. Most recently, Washington has deployed 9,000 US troops to Israel to participate in “war games” designed to test the US/Israeli air defense system. As Iran represents no threat unless attacked, Washington’s war preparations signal Washington’s intention to attack Iran.
Another signal that Washington has a new war on its agenda is the raised level of Washington’s rhetoric and demonization of Iran. Judging by polls Washington’s propaganda that Iran is threatening the US by developing a nuclear weapon has met with success. Half of the American public support a military attack on Iran in order to prevent Iran from acquiring nuclear capability. Those of us who are trying to awaken our fellow citizens start from a deficit that the minds of half of the US population are under Big Brother’s control.
Read More @ PaulCraigRoberts.org
by Anthony Gucciardi, NaturalNews.com:
Biotech
giant Monsanto has been genetically modifying the world’s food supply
and subsequently breeding environmental devastation for years, but
leaked documents now reveal that Monsanto has also deeply infiltrated
the United States government. With leaked reports revealing how U.S.
diplomats are actually working for Monsanto to push their agenda along
with other key government officials, Monsanto’s grasp on international
politics has never been clearer.
Amazingly, the information reveals that the massive corporation is also intensely involved in the passing and regulations concerning the very GM ingredients they are responsible for. In fact, the information released by WikiLeaks reveals just how much power Monsanto has thanks to key positions within the United States government and elsewhere. Not only was it exposed that the U.S. is threatening nations who oppose Monsanto with military-style trade wars, but that many U.S. diplomats actually work directly for Monsanto.
Read More @ NaturalNews.com
Biotech
giant Monsanto has been genetically modifying the world’s food supply
and subsequently breeding environmental devastation for years, but
leaked documents now reveal that Monsanto has also deeply infiltrated
the United States government. With leaked reports revealing how U.S.
diplomats are actually working for Monsanto to push their agenda along
with other key government officials, Monsanto’s grasp on international
politics has never been clearer.Amazingly, the information reveals that the massive corporation is also intensely involved in the passing and regulations concerning the very GM ingredients they are responsible for. In fact, the information released by WikiLeaks reveals just how much power Monsanto has thanks to key positions within the United States government and elsewhere. Not only was it exposed that the U.S. is threatening nations who oppose Monsanto with military-style trade wars, but that many U.S. diplomats actually work directly for Monsanto.
Read More @ NaturalNews.com
Jim Sinclair’s Commentary
Want high priced oil? Here are two ways – sanctions, and mention the possibility of World War 3.
“Saudi Arabia is reportedly nearing its oil output capacity limit and may have little room to respond to potential shortages caused by sanctions on Iran. Currently pumping just under a record 10M bpd, the country has an on-paper capacity of up to 12.5M bpd, but hitting that target might involve extracting heavy product nobody wants.”
Jim Sinclair’s Commentary
You will never know. However, it is my opinion that the Chinese government’s significant support for citizens buying gold might just be to build another inland inventory for future use.
China’s Gold Imports From Hong Kong Surge to Highest Ever – PBOC Buying? 11 January 2012
Gold’s London AM fix this morning was USD 1,641.00, GBP 1,063.51, and EUR 1,286.25 per ounce.
Yesterday’s AM fix was USD 1,627.00, GBP 1,051.91, and EUR 1,271.49 per ounce.
Cross Currency Table
Demand for gold bullion in China continues to surge.
Mainland China’s imports from Hong Kong surged to 102,779kg/oz from 86,299kg/oz in October. This is a 20% increase from the already high number seen in October and a 483% y/y increase.
The run into Chinese Lunar New Year has again seen higher than expected Chinese demand for gold and China’s voracious appetite for gold is surprising even analysts who are positive about gold.
More…
Jim Sinclair’s Commentary
What can be said in satire is dangerous to say in seriousness.
Stephen Colbert TEARS INTO Obama Over The NDAA Bill
Glynnis MacNicol
Last week, President Obama signed into law the National Defense Authorization Act, which among other things allows the government to detain indefinitely American citizens suspected of involvement in terrorism.
Last night Stephen Colbert took a brutal swing at the law that “unexpectedly” makes legal “what we’ve already been doing for ten years…we didn’t see that coming! (due to bag over head).”
Fear not, however: “We will not lock up Americans indefinitely…eventually they will die!”
Then he tears into Obama.
More…
Jim Sinclair’s Commentary
Somebody has a sense of humor. MF Global Treasurer Edith O’Brien, who is in focus in the search for the missing client money, is reportedly refusing to meet with investigators and has asked first for immunity from prosecution. O’Brien has often testified as an expert at the CFTC; her specialty: the protection of customer money at futures firms.
U.S. Inquiry of MF Global Gains Speed
By BEN PROTESS and AZAM AHMED
The investigation into MF Global is intensifying as federal authorities unearth new details and confront potential obstacles in their hunt for roughly $1.2 billion in customer money that disappeared from the brokerage firm.
While prosecutors and regulators have jointly conducted dozens of depositions with former and current employees, a senior official in the Chicago office of MF Global recently declined to meet with the federal authorities, people briefed on the investigation said.
That official, Edith O’Brien, a treasurer at MF Global, is considered a “person of interest” in the investigation, the people said. Federal authorities suspect that she transferred about $200 million to JPMorgan Chase in London on the eve of the bankruptcy of MF Global, money that turned out to be customer cash.
More..
Jim Sinclair’s Commentary
Debt is the problem.
The problem is permanent.
The gold bull market has a long way to go.
Nation’s debt passes grim milestone
The nation’s debt has reached a symbolic milestone. With gross domestic product of roughly $15 trillion and total debt of $15.23 trillion, our total debt is now bigger than our economy, as USA Today noted Monday.
What’s more, the Obama administration’s projections put our debt at more than $23 trillion by 2020, well in excess of the projected $22.5 trillion GDP. Analysts agree that the rising debt ratio is not good, but they can’t agree on just how bad it is, and while there’s at least some agreement among economists about how to fix the problem, lawmakers have no such common ground — which is one of the biggest hurdles to actually doing something about the debt dilemma.
advertisement
First of all, take a deep breath. That $15 trillion doesn’t have to be paid back all at once. Think of it in terms of a household budget: The average household income is a little under $50,000, while the average sales price for single-family homes is about $169,500. Many homeowners owe more than they make in a year, and that’s not cause for alarm in and of itself.
That $15 trillion figure is also a little misleading, said Bill Gale, a senior fellow at Brookings Institution and co-director of the Urban-Brookings Tax Policy Center, because it includes money owed by one government agency to another. A more important figure is net debt, which is the amount the U.S. owes investors and now hovers at around 70 percent of GDP, Gale said.
More…
Want high priced oil? Here are two ways – sanctions, and mention the possibility of World War 3.
“Saudi Arabia is reportedly nearing its oil output capacity limit and may have little room to respond to potential shortages caused by sanctions on Iran. Currently pumping just under a record 10M bpd, the country has an on-paper capacity of up to 12.5M bpd, but hitting that target might involve extracting heavy product nobody wants.”
Jim Sinclair’s Commentary
You will never know. However, it is my opinion that the Chinese government’s significant support for citizens buying gold might just be to build another inland inventory for future use.
China’s Gold Imports From Hong Kong Surge to Highest Ever – PBOC Buying? 11 January 2012
Gold’s London AM fix this morning was USD 1,641.00, GBP 1,063.51, and EUR 1,286.25 per ounce.
Yesterday’s AM fix was USD 1,627.00, GBP 1,051.91, and EUR 1,271.49 per ounce.
Cross Currency Table
Demand for gold bullion in China continues to surge.
Mainland China’s imports from Hong Kong surged to 102,779kg/oz from 86,299kg/oz in October. This is a 20% increase from the already high number seen in October and a 483% y/y increase.
The run into Chinese Lunar New Year has again seen higher than expected Chinese demand for gold and China’s voracious appetite for gold is surprising even analysts who are positive about gold.
More…
Jim Sinclair’s Commentary
What can be said in satire is dangerous to say in seriousness.
Stephen Colbert TEARS INTO Obama Over The NDAA Bill
Glynnis MacNicol
Last week, President Obama signed into law the National Defense Authorization Act, which among other things allows the government to detain indefinitely American citizens suspected of involvement in terrorism.
Last night Stephen Colbert took a brutal swing at the law that “unexpectedly” makes legal “what we’ve already been doing for ten years…we didn’t see that coming! (due to bag over head).”
Fear not, however: “We will not lock up Americans indefinitely…eventually they will die!”
Then he tears into Obama.
More…
Jim Sinclair’s Commentary
Somebody has a sense of humor. MF Global Treasurer Edith O’Brien, who is in focus in the search for the missing client money, is reportedly refusing to meet with investigators and has asked first for immunity from prosecution. O’Brien has often testified as an expert at the CFTC; her specialty: the protection of customer money at futures firms.
U.S. Inquiry of MF Global Gains Speed
By BEN PROTESS and AZAM AHMED
The investigation into MF Global is intensifying as federal authorities unearth new details and confront potential obstacles in their hunt for roughly $1.2 billion in customer money that disappeared from the brokerage firm.
While prosecutors and regulators have jointly conducted dozens of depositions with former and current employees, a senior official in the Chicago office of MF Global recently declined to meet with the federal authorities, people briefed on the investigation said.
That official, Edith O’Brien, a treasurer at MF Global, is considered a “person of interest” in the investigation, the people said. Federal authorities suspect that she transferred about $200 million to JPMorgan Chase in London on the eve of the bankruptcy of MF Global, money that turned out to be customer cash.
More..
Jim Sinclair’s Commentary
Debt is the problem.
The problem is permanent.
The gold bull market has a long way to go.
Nation’s debt passes grim milestone
The nation’s debt has reached a symbolic milestone. With gross domestic product of roughly $15 trillion and total debt of $15.23 trillion, our total debt is now bigger than our economy, as USA Today noted Monday.
What’s more, the Obama administration’s projections put our debt at more than $23 trillion by 2020, well in excess of the projected $22.5 trillion GDP. Analysts agree that the rising debt ratio is not good, but they can’t agree on just how bad it is, and while there’s at least some agreement among economists about how to fix the problem, lawmakers have no such common ground — which is one of the biggest hurdles to actually doing something about the debt dilemma.
advertisement
First of all, take a deep breath. That $15 trillion doesn’t have to be paid back all at once. Think of it in terms of a household budget: The average household income is a little under $50,000, while the average sales price for single-family homes is about $169,500. Many homeowners owe more than they make in a year, and that’s not cause for alarm in and of itself.
That $15 trillion figure is also a little misleading, said Bill Gale, a senior fellow at Brookings Institution and co-director of the Urban-Brookings Tax Policy Center, because it includes money owed by one government agency to another. A more important figure is net debt, which is the amount the U.S. owes investors and now hovers at around 70 percent of GDP, Gale said.
More…
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