from The Daily Bell:
Can a return to the drachma save Greece as unemployment soars? … The latest best-seller is the Greek translation of Heinrich Winkler’s “Weimar 1918-1933: History of the First German Democracy”, narrating how an indebted Germany pursued the same deflation policies under the Gold Standard as Greece is now pursuing under EMU – with the same results. The book culminates in the Reichstag elections of July 1932 when the Nazis and Communists between them won half the seats, and Weimar died. In November alone 126,000 Greeks lost their jobs in a country of 11 million, equivalent to three and a half million Americans in a single month. The unemployment rate jumped from 18.2pc to 20.9pc. This has not yet fed through into social breakdown. Greeks receive unemployment support for an average of thirty weeks, with a ceiling of €454 a month, according to Professor Manos Matsaganis from Athens University. Those with civil service tenure are placed on labour reserve for two years at half their basic pay, or a third of their actual pay.”The voices of the desperate, the voices of Greeks are being provocatively ignored. Fear is giving way to rage and the risk of a social explosion can no longer be ignored by those who give orders and those who execute their lethal recipes,” he said. – UK Telegraph
Dominant Social Theme: The Germans are just being fair.
Free-Market Analysis: Germany continues to push the Greeks to the brink. For a publication such as ours that tries to analyze elite dominant social themes, the maneuvering is interesting indeed, though the cost is one of blood, tears, agony and death.
Read More @ TheDailyBell.com
Can a return to the drachma save Greece as unemployment soars? … The latest best-seller is the Greek translation of Heinrich Winkler’s “Weimar 1918-1933: History of the First German Democracy”, narrating how an indebted Germany pursued the same deflation policies under the Gold Standard as Greece is now pursuing under EMU – with the same results. The book culminates in the Reichstag elections of July 1932 when the Nazis and Communists between them won half the seats, and Weimar died. In November alone 126,000 Greeks lost their jobs in a country of 11 million, equivalent to three and a half million Americans in a single month. The unemployment rate jumped from 18.2pc to 20.9pc. This has not yet fed through into social breakdown. Greeks receive unemployment support for an average of thirty weeks, with a ceiling of €454 a month, according to Professor Manos Matsaganis from Athens University. Those with civil service tenure are placed on labour reserve for two years at half their basic pay, or a third of their actual pay.”The voices of the desperate, the voices of Greeks are being provocatively ignored. Fear is giving way to rage and the risk of a social explosion can no longer be ignored by those who give orders and those who execute their lethal recipes,” he said. – UK Telegraph
Dominant Social Theme: The Germans are just being fair.
Free-Market Analysis: Germany continues to push the Greeks to the brink. For a publication such as ours that tries to analyze elite dominant social themes, the maneuvering is interesting indeed, though the cost is one of blood, tears, agony and death.
Read More @ TheDailyBell.com
“One time somebody asked me who I would consider and the name Judge Napolitano jumps right out at me,” Paul said to raucous cheers of approval.
RELATED: Judge Napolitano Kindly Asks His Fans To Stop Sending Angry Emails To Fox News… ‘NOW’
“But when you think about the danger of mentioning one or two means that you’re not going to mention quite a few others that would certainly be qualified.” he said. “That’s a great story, you know, the fact that there are a lot of people now that are well known and well educated and know the issues and would do a very good job.”
Napolitano implicitly endorsed the Texas Congressman in January, saying “Only one man remains faithful to the principles of free market and small government. To the Constitution and to personal freedom. To defending the nation without being the world’s police force. Only one. You know who he is.”
Read More @ Mediaite.com
from King World News:
With
Europe desperately trying to stabilize Greece, today Nigel Farage told
King World News that, despite the bailout, downside risks in the banking
system are still enormous. He also said a modern day catastrophe is
about to occur. But first, here is what Farage had to say about the
ongoing crisis in Greece: “I want to just share with your listeners,
Eric, the state of things in Greece. We have 50% unemployment amongst
young people in Greece. 25% of all commercial companies have gone
bankrupt in Greece in the last 4 years. We have now thousands of people
in Athens literally sleeping in cardboard boxes in the streets. We
have families giving up their kids for adoption because they feel they
(the children) would be better off if someone else looked after them
because they simply can’t feed them.”
Nigel Farage continues: Read More @ KingWorldNews.com
With
Europe desperately trying to stabilize Greece, today Nigel Farage told
King World News that, despite the bailout, downside risks in the banking
system are still enormous. He also said a modern day catastrophe is
about to occur. But first, here is what Farage had to say about the
ongoing crisis in Greece: “I want to just share with your listeners,
Eric, the state of things in Greece. We have 50% unemployment amongst
young people in Greece. 25% of all commercial companies have gone
bankrupt in Greece in the last 4 years. We have now thousands of people
in Athens literally sleeping in cardboard boxes in the streets. We
have families giving up their kids for adoption because they feel they
(the children) would be better off if someone else looked after them
because they simply can’t feed them.”Nigel Farage continues: Read More @ KingWorldNews.com
by Tim Price, Sovereign Man:
“No government has ever commanded the resources at the disposal of our ungodly Leviathan, which consumes about 25% of the product of the world’s richest country. It is driven by a voracious alliance of government’s own employees, and those who receive benefits from the state. At least 90 million Americans either depend directly on government handouts or jobs, and each private worker must support not only himself and his family, but also carry a government worker on his shoulders.” — Tom Bethel, “Freedom and its Enemies,” June 1999.
Financial markets don’t really do the long term anymore, but if they did, they might spend less time drooling at the prospect of more monetary crack, and more time wondering who will be funding all the government debt that now towers above everyone further than the eye can see. CLSA’s Russell Napier (hat tip to Macro Advisors’ Filip Ruszkowski) recently pointed to an ominous development from the summer of 2011:
Read More @ SovereignMan.com
“No government has ever commanded the resources at the disposal of our ungodly Leviathan, which consumes about 25% of the product of the world’s richest country. It is driven by a voracious alliance of government’s own employees, and those who receive benefits from the state. At least 90 million Americans either depend directly on government handouts or jobs, and each private worker must support not only himself and his family, but also carry a government worker on his shoulders.” — Tom Bethel, “Freedom and its Enemies,” June 1999.
Financial markets don’t really do the long term anymore, but if they did, they might spend less time drooling at the prospect of more monetary crack, and more time wondering who will be funding all the government debt that now towers above everyone further than the eye can see. CLSA’s Russell Napier (hat tip to Macro Advisors’ Filip Ruszkowski) recently pointed to an ominous development from the summer of 2011:
Read More @ SovereignMan.com
Greece "rescued" as Europe forges a deal/Gold and silver advance in price/4.2 million oz of silver standing in Feb
Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 1 hour ago
Good
evening Ladies and Gentlemen:
Gold at a good day rising by $33.30 to $1757.80 by comex closing time.
Silver also had a stellar day rising by $1.21 to $34.41. As many of
you heard the European summit announced a "settlement" on the Greek
bailout. I will go over details in the body of my commentary. But
first let's have a look at comex gold and silver details.
end
The total gold comex
COMEX Warehouse Silver Inventory Update 2/21/12
The Doc at SilverDoctors - 2 hours ago
[image: 910]*We have 5 silver inventory movements to report from Friday's
action, including 2 big REGISTERED movements, and another adjustment in the
Brink's vault. *
*COMEX WAREHOUSE SILVER INVENTORY UPDATE 2/21/12*
Read more »
Animated Metals Update: Greek Debt Situation is Solved - Gold & Silver Up
The Doc at SilverDoctors - 3 hours ago
*The RNN Animated News for Tuesday February 21 discusses the Greek Debt
situation, the current price movements in Gold and Silver, the Iranian move
to ban oil exports to both the UK and France and the EU Parliaments plan to
single out and classify Canadian oil sands as dirty oil.*
Read more »
MFG Trustee: Missing Client Funds Not at JP Morgan
The Doc at SilverDoctors - 3 hours ago
*No MFG Client Funds
to be Found Here!* Ok, so lets get this straight. Less than 48 hours after
the bankruptcy filing of MF Global, it was well documented that the stolen
(rehypothecated) client funds had made their way (allegedly) to Jamie Dimon
and JP Morgan Chase.
*So after a four month investigation and forensic analysis* (what is this,
CSI NY??), *suddenly none of the funds ended up at JP Morgan? * And we're
supposed to believe this when the Trustee overseeing the bankruptcy, James
Giddens, has done significant work for the aforementioned back
previously!!??
More like it to... more »
Quick Update
Dave in Denver at The Golden Truth - 5 hours ago
*Gold represents a little less than 1% of the total value of global
investments [stocks, bonds, money markets]. Think about what will happen
if that percentage moves up to 2 or 3%. In 1968 it was 5%. In 1980 at the
last peak in gold it was 3%. -* Felix Zulauf, Swiss money manager
Busy trading today. Wanted to unload a few points of irritation. It was
reported locally that Michelle Obama spent the long weekend in Aspen with
her daughters, courtesy of the Taxpayers, of course. I don't recall the
Obamas ever spending time in expensive resorts when they had to pay for it
themse... more »
Colorado Senators to Vote to Join Utah Allowing Gold & Silver as Legal Tender
The Doc at SilverDoctors - 5 hours ago
[image: A 1933]
Eric Sprott told The Doc this week that *silver will become a currency again
*. Slowly but surely, we are seeing signs evidencing this.
*Colorado State Senators are considering a bill that would remonetize both
gold and silver as legal tender currency in the state of Colorado*,
following the similar measure already passed in the state of Utah last
year. As many as 12 other states currently have similar bills in progress
in state legislatures.
Whether Ron Paul succeeds in obtaining the Republican nomination for
President, he has positively succeeded in stirring th... more »
Greece is Fixed so Let's Buy Everything
Trader Dan at Trader Dan's Market Views - 5 hours ago
Greece managed to secure itself a bailout which takes the problem off the
radar screen of hedge fund managers for the time being so it was back to
"RISK ON" in a big way in today's trading session. Between China's 50 basis
point lowering of its Reserve Ratio Requirements for its banks yesterday
and today's money printing to throw at the Greek debt problem, it was
"Happy Days are Here Again" as the equity market perma bulls wasted no time
in bidding the price of stocks higher while the inflation camp decided to
buy nearly anything that moved on the commodity exchanges with the grains ... more »
On
Tuesday, the Eurozone finance ministers settled on a 130-billion-euro
bailout for Greece. According to reports, the bailout was necessary to
avert a default and the move comes after the Greek government cut
thousands of public jobs which lead to many angry Greeks taking to the
streets in protest. The deal is supposed to cut Greece’s debt to GDP to
120.5 percent by 2020 which many critics are saying is pointless. Here
is the latest on the Greek bailout.
by Andrew Hoffman, MilesFranklin.com:
On a quiet day here in the States – with nearly all markets closed for President’s Day – I want to take advantage of the “relative peace” to hammer home one of the MOST IMPORTANT INVESTMENT THEMES OF OUR LIFETIME.
I spend 99% of my time writing about the need to think defensively, i.e. not of increasing one’s wealth but protecting it – although owning PHYSICAL gold and silver will certainly achieve both targets. However, I still have two decades of financial markets in my blood, and thus it is hard to suppress my excitement about the inevitable silver breakout to all-time highs, in what will historically be viewed as the ULTIMATE TRIPLE-TOP BREAKOUT.
Gold may be the “linchpin” of the global financial system, but silver is the hare-trigger due to its equally established monetary history, tiny market size, and lack of above-ground inventory. That is why PAPER silver has been so maniacally suppressed since the gold standard was abandoned in 1971, the systemic “Achilles Heel” that will no doubt “break the Cartel’s back.” Not only is silver among the scarcest elements on Earth – prompting the U.S. Geological Service (USGS) to recently predict it would be the first extinct element – but investment and industrial demand are both growing exponentially.
Read More @ MilesFranklin.com
On a quiet day here in the States – with nearly all markets closed for President’s Day – I want to take advantage of the “relative peace” to hammer home one of the MOST IMPORTANT INVESTMENT THEMES OF OUR LIFETIME.
I spend 99% of my time writing about the need to think defensively, i.e. not of increasing one’s wealth but protecting it – although owning PHYSICAL gold and silver will certainly achieve both targets. However, I still have two decades of financial markets in my blood, and thus it is hard to suppress my excitement about the inevitable silver breakout to all-time highs, in what will historically be viewed as the ULTIMATE TRIPLE-TOP BREAKOUT.
Gold may be the “linchpin” of the global financial system, but silver is the hare-trigger due to its equally established monetary history, tiny market size, and lack of above-ground inventory. That is why PAPER silver has been so maniacally suppressed since the gold standard was abandoned in 1971, the systemic “Achilles Heel” that will no doubt “break the Cartel’s back.” Not only is silver among the scarcest elements on Earth – prompting the U.S. Geological Service (USGS) to recently predict it would be the first extinct element – but investment and industrial demand are both growing exponentially.
Read More @ MilesFranklin.com
from The Economic Collapse Blog:
The
global financial system is not a game of checkers. It is a game of
chess. All over the world today, news headlines are proclaiming that
this new Greek debt deal has completely eliminated the possibility of a
chaotic Greek debt default. Unfortunately, that is simply not the case.
Rather, the truth is that this new deal actually “sets the table” for a
Greek debt default. When I was studying and working in the legal
arena, I learned that sometimes you make an agreement so that you can
get the other side to break it. That may sound very strange to the
average person on the street, but this is how the game is played at the
highest levels. It is all about strategy. And in this case, the new
debt deal imposes such strict conditions on Greece that it is almost
inevitable that Greece will fail to meet some of them. When Greece does
fail, Germany and the other northern European nations may try to claim
that they “did everything that they could” but that Greece just did not
“live up to its obligations”. So does this mean that we will definitely
see a chaotic Greek debt default? No. What this does mean is that the
chess pieces are being moved into position for one.
Read More @ TheEconomicCollapseBlog.com
The
global financial system is not a game of checkers. It is a game of
chess. All over the world today, news headlines are proclaiming that
this new Greek debt deal has completely eliminated the possibility of a
chaotic Greek debt default. Unfortunately, that is simply not the case.
Rather, the truth is that this new deal actually “sets the table” for a
Greek debt default. When I was studying and working in the legal
arena, I learned that sometimes you make an agreement so that you can
get the other side to break it. That may sound very strange to the
average person on the street, but this is how the game is played at the
highest levels. It is all about strategy. And in this case, the new
debt deal imposes such strict conditions on Greece that it is almost
inevitable that Greece will fail to meet some of them. When Greece does
fail, Germany and the other northern European nations may try to claim
that they “did everything that they could” but that Greece just did not
“live up to its obligations”. So does this mean that we will definitely
see a chaotic Greek debt default? No. What this does mean is that the
chess pieces are being moved into position for one.Read More @ TheEconomicCollapseBlog.com
Greek Tragedy turns Comedy with Troika document leak, as Obama’s Boeing PR Crashes in Wichita
from MediaRoots.org:
MEDIA ROOTS – Upon returning home from his second tour in Afghanistan, Lt. Colonel Daniel L. Davis unloaded several truths that exposed continued deception by multiple senior military officials. The 17-year Army veteran describes, in an 84-page “open-source” report, an increasingly bleak reality for soldiers while chronicling specific episodes of personal gain from top military leaders.
“No one expects our leaders to always have a successful plan,” he explains in a recent summary of the report in Armed Forces Journal. “But we do expect – and the men who do the living, fighting, and dying deserve – to have our leaders tell the truth about what’s going on.”
Prior to informing his chain of command, Davis met with six members of Congress and a New York Times reporter, to submit two documents – one classified and one not – to the Pentagon for internal review. However, upon learning that there would be a delay in the release of the unclassified report, Davis decided to go public last week in the nation’s premier independent military periodical. “How many more men must die in support of a mission that is not succeeding?”
Read More @ MediaRoots.org
MEDIA ROOTS – Upon returning home from his second tour in Afghanistan, Lt. Colonel Daniel L. Davis unloaded several truths that exposed continued deception by multiple senior military officials. The 17-year Army veteran describes, in an 84-page “open-source” report, an increasingly bleak reality for soldiers while chronicling specific episodes of personal gain from top military leaders.
“No one expects our leaders to always have a successful plan,” he explains in a recent summary of the report in Armed Forces Journal. “But we do expect – and the men who do the living, fighting, and dying deserve – to have our leaders tell the truth about what’s going on.”
Prior to informing his chain of command, Davis met with six members of Congress and a New York Times reporter, to submit two documents – one classified and one not – to the Pentagon for internal review. However, upon learning that there would be a delay in the release of the unclassified report, Davis decided to go public last week in the nation’s premier independent military periodical. “How many more men must die in support of a mission that is not succeeding?”
Read More @ MediaRoots.org
by Alan Cowell, NYTimes.com:
LONDON — As tension grew in its nuclear dispute with the West, Iran was reported on Tuesday to have struck an increasingly bellicose tone, warning that it would take pre-emptive action against perceived foes if it felt its national interests were threatened, and laying down new conditions for oil sales.
The warnings came as Tehran also appeared to place limits on a visit by a team of United Nations nuclear officials, saying the investigators would not go to nuclear facilities, despite earlier reports that its members had sought permission to inspect a military complex outside Tehran.
In a further extension of a dispute with the European Union over an oil embargo due to come into force on July 1, Tehran also outlined what were termed conditions for future sales to European customers. Iran said Sunday that it had cut off sales to Britain and France and warned on Monday that it might extend the ban to other members of the 27-nation European Union.
Read More @ NYTimes.com
LONDON — As tension grew in its nuclear dispute with the West, Iran was reported on Tuesday to have struck an increasingly bellicose tone, warning that it would take pre-emptive action against perceived foes if it felt its national interests were threatened, and laying down new conditions for oil sales.
The warnings came as Tehran also appeared to place limits on a visit by a team of United Nations nuclear officials, saying the investigators would not go to nuclear facilities, despite earlier reports that its members had sought permission to inspect a military complex outside Tehran.
In a further extension of a dispute with the European Union over an oil embargo due to come into force on July 1, Tehran also outlined what were termed conditions for future sales to European customers. Iran said Sunday that it had cut off sales to Britain and France and warned on Monday that it might extend the ban to other members of the 27-nation European Union.
Read More @ NYTimes.com
Islamic wars have brought questionable benefit to the US over the
last 20 years, former US presidential advisor Pat Buchanan, author of
Suicide of a Superpower, shared with RT. A new war in the Middle East
will be a disaster for the US and for the world economy, he says. “I
opposed the Desert Storm operation in 1991 cleaning Saddam Hussein out
of Kuwait because, I said, ‘This would only be the first Arab-American
war.’” Looking at the number of conflicts in the Islam world that
America is taking part in now, one cannot but admit that Buchanan was
right 20 years ago. “You cannot replicate the Middle West in the Middle
East,” Pat Buchanan concluded. From the time of the Cold War the US has
military bases all over the world. Today, running a budget deficit of 10
per cent of its GDP, America simply cannot afford to continue “to carry
this enormous burden, defending 40 or 50 countries around the world,”
Buchanan says, “We have to bring troops home.” Getting rid of these
bases essentially means dismantling the American Empire to help the US
survive beyond 2025. America’s crusade under the banner of ending
tyranny in the world is “utterly utopian”.
[Ed. Note: Related.]
from RevolutionPAC.com:
Full-scale effort to be deployed for Arizona and Michigan primaries, announces Revolution PAC.
FOR IMMEDIATE RELEASE – Chicago, IL – February 20, 2012 – In the face of mounting evidence of voter suppression and election fraud, Revolution PAC is formally launching a groundbreaking exit polling initiative in time for the February 28 Republican presidential primaries in Arizona and Michigan. The first-of-its-kind grassroots effort also will include the deployment of a private-label smartphone application.
The application – codenamed “PollWatcher 1.0” – is currently only available for Google’s Android operating system and was built from the ground up with an easy-to-use interface. PollWatcher 1.0 will allow Revolution PAC’s boots on the ground to conduct an efficient exit polling initiative as a means to crosscheck the accuracy of state GOP parties’ vote totals, which were problematic in Iowa, Nevada and Maine.
Read More @ RevolutionPAC.com
from RevolutionPAC.com:
Full-scale effort to be deployed for Arizona and Michigan primaries, announces Revolution PAC.FOR IMMEDIATE RELEASE – Chicago, IL – February 20, 2012 – In the face of mounting evidence of voter suppression and election fraud, Revolution PAC is formally launching a groundbreaking exit polling initiative in time for the February 28 Republican presidential primaries in Arizona and Michigan. The first-of-its-kind grassroots effort also will include the deployment of a private-label smartphone application.
The application – codenamed “PollWatcher 1.0” – is currently only available for Google’s Android operating system and was built from the ground up with an easy-to-use interface. PollWatcher 1.0 will allow Revolution PAC’s boots on the ground to conduct an efficient exit polling initiative as a means to crosscheck the accuracy of state GOP parties’ vote totals, which were problematic in Iowa, Nevada and Maine.
Read More @ RevolutionPAC.com
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