Greek Prime Minister Warns of ‘Uncontrolled Chaos’ if Country Defaults
Greece’s
plans to avert bankruptcy were in chaos on Friday night as politicians,
police and protesters formed a powerful and violent opposition to the
internationally-imposed austerity measures.
by Louise Armitstead, Telegraph.co.uk:
Lucas Papademos, prime minister, struggled to maintain order in parliament ahead of Sunday’s crucial vote on the budget plans which he needs to win to secure Greece’s €130bn (£109bn) bail-out.
Six ministers resigned in protest over the budget plans, which include tough spending and pension cuts, that were approved on Thursday by political leaders.
Late on Friday night, the remaining memebers of the cabinet approved the draft bill of austerity measures which the country’s parliament will vote on on Sunday.
Earlier in the day, George Karatzaferis, leader of Greek far right in coalition, walked out of the national unity government saying he would refuse to vote on Sunday. Although his party cannot block the vote, his stance rattled European markets.
Read More @ Telegraph.co.uk
Karen Farley hadn’t made a mortgage payment in a year when she got what looked like a form letter from her lender. “You could sell your home, owe nothing more on your mortgage and get $30,000,” JPMorgan Chase & Co. (JPM) said in the Aug. 17 letter obtained by Bloomberg News Maybe the Fonz, currently pushing the benefits of reverse mortgages, could become the spokesperson for this trend. All... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
by Louise Armitstead, Telegraph.co.uk:
Lucas Papademos, prime minister, struggled to maintain order in parliament ahead of Sunday’s crucial vote on the budget plans which he needs to win to secure Greece’s €130bn (£109bn) bail-out.
Six ministers resigned in protest over the budget plans, which include tough spending and pension cuts, that were approved on Thursday by political leaders.
Late on Friday night, the remaining memebers of the cabinet approved the draft bill of austerity measures which the country’s parliament will vote on on Sunday.
Earlier in the day, George Karatzaferis, leader of Greek far right in coalition, walked out of the national unity government saying he would refuse to vote on Sunday. Although his party cannot block the vote, his stance rattled European markets.
Read More @ Telegraph.co.uk
Dear Reader,
David Galland here. In a moment, we’ll get to the main investing topic indicated in the title of today’s edition, Permanent Gold Backwardation, but first a little bit of musing. If you are the serious type, with things to do and people to see, feel free to skip right on down the page until you strike that article – you won’t hurt my feelings.
That’s because, coming off a particularly busy week – one that included putting out the February edition of The Casey Report (read it now, we’ll take all the risk), I’m in the mood to muse about things more philosophical.
The Happiness Meter
by David Galland
It was best-selling author Robert Ringer who first brought the concept of a “Happiness Meter” to my attention. (A bit of trivia: Ringer was involved in publishing Doug Casey’s first book, The International Man).
Read More @ CaseyResearch.com
by Harvey Organ:
Good morning Ladies and Gentlemen:
[...] Before proceeding, we had two bank failures last night as they entered our banking morgue.
1. SCB Bank of Shelbyvile In.
2. Charter National Bank and Trust, Hoffman Estates, IL.
On Thursday we saw gold and silver equity shares languish throughout the day followed by the whacking of the metal in the access market…a sure sign of a major offensive shorting move by the bankers. They did not disappoint, much to the glee of the regulators who stand by collecting their salaries and doing absolutely nothing stopping this collusive and criminal action by the bankers as they supplied copious amounts of non backed paper driving the price of the precious metals lower on Friday. The price of gold finished the comex session at $1722.00 down 17 dollars. The price of silver held its ground falling only 28 cents to $33.60.
Read More @ HarveyOrgan.Blogspot.com
David Galland here. In a moment, we’ll get to the main investing topic indicated in the title of today’s edition, Permanent Gold Backwardation, but first a little bit of musing. If you are the serious type, with things to do and people to see, feel free to skip right on down the page until you strike that article – you won’t hurt my feelings.
That’s because, coming off a particularly busy week – one that included putting out the February edition of The Casey Report (read it now, we’ll take all the risk), I’m in the mood to muse about things more philosophical.
The Happiness Meter
by David Galland
It was best-selling author Robert Ringer who first brought the concept of a “Happiness Meter” to my attention. (A bit of trivia: Ringer was involved in publishing Doug Casey’s first book, The International Man).
Read More @ CaseyResearch.com
Good morning Ladies and Gentlemen:
[...] Before proceeding, we had two bank failures last night as they entered our banking morgue.
1. SCB Bank of Shelbyvile In.
2. Charter National Bank and Trust, Hoffman Estates, IL.
On Thursday we saw gold and silver equity shares languish throughout the day followed by the whacking of the metal in the access market…a sure sign of a major offensive shorting move by the bankers. They did not disappoint, much to the glee of the regulators who stand by collecting their salaries and doing absolutely nothing stopping this collusive and criminal action by the bankers as they supplied copious amounts of non backed paper driving the price of the precious metals lower on Friday. The price of gold finished the comex session at $1722.00 down 17 dollars. The price of silver held its ground falling only 28 cents to $33.60.
Read More @ HarveyOrgan.Blogspot.com
Trader Dan on King World News Weekly Metals Wrap
Trader Dan at Trader Dan's Market Views - 1 minute ago
Please click on the following link to listen in to my regular weekly radio
interview with Eric King on the KWN Weekly Metals Wrap.
*http://tinyurl.com/87ukomd*
Printing, Sending Out Good News To Win Votes
Admin at Jim Rogers Blog - 3 hours ago
In the US, they are going to continue printing money and sending out good
news to win votes this year. - *in Investment Week*
*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.*
Banks Pay Homeowners to Avoid Foreclosures
Eric De Groot at Eric De Groot - 4 hours ago
Karen Farley hadn’t made a mortgage payment in a year when she got what looked like a form letter from her lender. “You could sell your home, owe nothing more on your mortgage and get $30,000,” JPMorgan Chase & Co. (JPM) said in the Aug. 17 letter obtained by Bloomberg News Maybe the Fonz, currently pushing the benefits of reverse mortgages, could become the spokesperson for this trend. All... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Ron Paul Cautiously Optimistic About Strong Finish in Maine
Official
government data are manipulated. Credibility’s entirely lacking.
Reported good news is hype. Grim underlying reality is suppressed.
The monthly Labor Department jobs report is typical. Progressive
Radio News Hour regular economist Jack Rasmus calls the latest January
one “largely statistical legerdemain.”
A reported 243,000 nonfarm jobs reported lacked credibility. Manipulation manufactured them. Even the Bureau of Labor Statistics (BLS) admits:
“The confidence level for the monthly change in total employment is on the order of plus or minus 430,000 jobs.”
Read More @ SJLendman.Blogspot.com
A reported 243,000 nonfarm jobs reported lacked credibility. Manipulation manufactured them. Even the Bureau of Labor Statistics (BLS) admits:
“The confidence level for the monthly change in total employment is on the order of plus or minus 430,000 jobs.”
Read More @ SJLendman.Blogspot.com
After watching this appalling video, I am more disturbed
about America’s direction than EVER before. That is quite a statement
to make, given that each day I report on widespread societal corruption,
sociopathy, and depravity, as well as the
government’s destruction of the business I spent two decades toiling in.
Thankfully, I found one of the few positions capitalizing on
such intervention, but for the great majority of American society – and
the Western world, as a whole – such is not the case.
http://www.youtube.com/watch_popup?v=VxHfYNTrnic
This video is a five-minute interview with Jack Chambless, an economics professor at Valencia College in Florida. I have not heard of Valencia College, but my sense is the opinions expressed are representative of its youth as a whole, particularly the key 18-24 age group responsible for America’s near-term direction.
Professor Chambless, wasting away teaching a bunch of zombies when he could be using his intellect productively, asked 180 students to write essays about “the American Dream,” and subsequently the role they expect government to play in it.
Read More @ MilesFranklin.com
Also Ryan Puplava with a Market Update and Jim takes your Q-Calls
from FinancialSense.com:
Jim
is pleased to welcome technician Bert Dohmen this week. Bert sees the
election year cycle as positive for the markets, but also sees higher
gold prices and significantly higher gas prices at the pump. In
addition, Ryan Puplava provides his weekly update on the markets and Jim
takes your Q-Calls.
Ryan joined PFS Group in 1995. He holds a B.S. in Business Administration/Finance from San Diego State University. His professional designations include FINRA Series 4, Series 7, and Series 66 Uniform Combined State Law Exam. He earned the Chartered Market Technician’s designation in 2007. Mr. Puplava is Senior Trading Manager and works closely with Jim Puplava on PFS Group’s Growth investment objective. He also contributes a monthly Market Observation to Financial Sense and co-authors In the Know—a weekly communication for Jim Puplava’s clients only—with other members of the trading staff.
Bert Dohmen is president and founder of Dohmen Capital Research Institute, Inc. (DCRI). He has achieved an international reputation for his expertise in forecasting the major investment markets, interest rates, and economic trends.
Click Here to Listen to the Interview
http://www.youtube.com/watch_popup?v=VxHfYNTrnic
This video is a five-minute interview with Jack Chambless, an economics professor at Valencia College in Florida. I have not heard of Valencia College, but my sense is the opinions expressed are representative of its youth as a whole, particularly the key 18-24 age group responsible for America’s near-term direction.
Professor Chambless, wasting away teaching a bunch of zombies when he could be using his intellect productively, asked 180 students to write essays about “the American Dream,” and subsequently the role they expect government to play in it.
Read More @ MilesFranklin.com
Also Ryan Puplava with a Market Update and Jim takes your Q-Calls
from FinancialSense.com:
Jim
is pleased to welcome technician Bert Dohmen this week. Bert sees the
election year cycle as positive for the markets, but also sees higher
gold prices and significantly higher gas prices at the pump. In
addition, Ryan Puplava provides his weekly update on the markets and Jim
takes your Q-Calls.Ryan joined PFS Group in 1995. He holds a B.S. in Business Administration/Finance from San Diego State University. His professional designations include FINRA Series 4, Series 7, and Series 66 Uniform Combined State Law Exam. He earned the Chartered Market Technician’s designation in 2007. Mr. Puplava is Senior Trading Manager and works closely with Jim Puplava on PFS Group’s Growth investment objective. He also contributes a monthly Market Observation to Financial Sense and co-authors In the Know—a weekly communication for Jim Puplava’s clients only—with other members of the trading staff.
Bert Dohmen is president and founder of Dohmen Capital Research Institute, Inc. (DCRI). He has achieved an international reputation for his expertise in forecasting the major investment markets, interest rates, and economic trends.
Click Here to Listen to the Interview
In this episode, Max Keiser and co-host, Stacy Herbert, discuss the
gold standard extremism and how your dollar got to be worth just 3.8
cents. In the second half of the show, Max talks to Francine McKenna of
reTheAuditors.com about the crimes and illegitimate activity of the MF
Global collapse.
As Goes the Currency, as Goes the Nation
from The Financial Survival Network:
He’s
been publishing The Ruff Times for thirty-four years, in bull and bear
markets in stocks and the precious metals. As he says, “I’ve been around
a long time, unlike most of the hot financial advisors and brokers
today who weren’t even born when I was already accurately predicting the
markets. These big shots were the Invincible Optimists at the peak of
the last bull market on Wall Street in the spring of 2000, and I was
yelling at them (they didn’t listen) to get out of the stock market. I
think I am one of a handful of real adults in the Wall Street
kindergarten with a long-range view of the world of money and an
encyclopedic view of gold and silver.”
While his health hasn’t been great recently, he’s still producing and still giving accurate commentary on the US and world financial situation. His wisdom is battle tested and his advice has proven extremely profitable over the years.
Click Here to Listen to the Podcast
He’s
been publishing The Ruff Times for thirty-four years, in bull and bear
markets in stocks and the precious metals. As he says, “I’ve been around
a long time, unlike most of the hot financial advisors and brokers
today who weren’t even born when I was already accurately predicting the
markets. These big shots were the Invincible Optimists at the peak of
the last bull market on Wall Street in the spring of 2000, and I was
yelling at them (they didn’t listen) to get out of the stock market. I
think I am one of a handful of real adults in the Wall Street
kindergarten with a long-range view of the world of money and an
encyclopedic view of gold and silver.”While his health hasn’t been great recently, he’s still producing and still giving accurate commentary on the US and world financial situation. His wisdom is battle tested and his advice has proven extremely profitable over the years.
Click Here to Listen to the Podcast
from WealthCycles:
After long months of wrangling, the U.S government and 49 states announced yesterday a settlement agreement in the bank foreclosure scandal. But despite the tough negotiating stances taken by some states attorneys general, the end result represents only a drop of relief in the bucket of bad U.S. mortgage debt, and an executive of the world’s largest bond investment fund says the deal punishes pension funds and bond investors more harshly than it does the errant banks.
The $25 billion settlement with the nation’s five major mortgage lenders includes $10 billion in direct principle reduction on underwater mortgages and another $10 billion for “other forms of mortgage relief,” according to National Mortgage News: refinancing underwater borrowers, forgiveness of deficiencies after short sales, and principal forbearance for unemployed borrowers. The remaining $5 billion will be paid directly to state and federal government.
Read More @ WealthCycles.com
Coming to an area near you soon...
Take No Prisoners: Self Defense Killings in Detroit Spike to 2200% Above National Average; Justifiable Homicide up 79%
After long months of wrangling, the U.S government and 49 states announced yesterday a settlement agreement in the bank foreclosure scandal. But despite the tough negotiating stances taken by some states attorneys general, the end result represents only a drop of relief in the bucket of bad U.S. mortgage debt, and an executive of the world’s largest bond investment fund says the deal punishes pension funds and bond investors more harshly than it does the errant banks.
The $25 billion settlement with the nation’s five major mortgage lenders includes $10 billion in direct principle reduction on underwater mortgages and another $10 billion for “other forms of mortgage relief,” according to National Mortgage News: refinancing underwater borrowers, forgiveness of deficiencies after short sales, and principal forbearance for unemployed borrowers. The remaining $5 billion will be paid directly to state and federal government.
Read More @ WealthCycles.com
Coming to an area near you soon...
Take No Prisoners: Self Defense Killings in Detroit Spike to 2200% Above National Average; Justifiable Homicide up 79%
by Mac Slavo, SHTFPlan.com:
As the economic crisis in 2008 took hold and the nation’s spiral into the next Great Depression became more apparent, we opined that crime would sky rocket as a consequence of millions of lost jobs, falling purchasing power and outright desperation.
The city of Detroit, which has been a harbinger for future trends soon to take hold across major metropolitan areas around the country, has no doubt experienced the worst of the depression thus far. Entire city blocks have become unlivable due to foreclosures and rampant crime, the jobless rate in 2009 exceeded 50% and a mass exodus has left the population at levels not seen since 1910.
By all accounts, the Motor City is ground zero for the collapse of America as we know it. Reminiscent of poverty stricken third world countries, it’s gotten so bad in Detroit that there are areas of the city where police and emergency services personnel refuse to go.
Read More @ SHTFPlan.com
As the economic crisis in 2008 took hold and the nation’s spiral into the next Great Depression became more apparent, we opined that crime would sky rocket as a consequence of millions of lost jobs, falling purchasing power and outright desperation.
The city of Detroit, which has been a harbinger for future trends soon to take hold across major metropolitan areas around the country, has no doubt experienced the worst of the depression thus far. Entire city blocks have become unlivable due to foreclosures and rampant crime, the jobless rate in 2009 exceeded 50% and a mass exodus has left the population at levels not seen since 1910.
By all accounts, the Motor City is ground zero for the collapse of America as we know it. Reminiscent of poverty stricken third world countries, it’s gotten so bad in Detroit that there are areas of the city where police and emergency services personnel refuse to go.
Read More @ SHTFPlan.com
from King World News:
John
Williams, of Shadowstats, notes that fundamental conditions for the US
dollar could not be worse. Williams says the record lack of confidence
by the US public in their government now threatens global currency
stability. Here is what Williams had to say about the situation: “One
of the more important, long-range underlying variables impacting the
exchange rate value of the U.S. dollar is the net foreign trade position
of the United States. In the post World War II era, the U.S. trade
position first fell into net deficit in 1971. By the late-1970s,
widening annual trade shortfalls had become perpetual, as had the
resulting structural deterioration in the U.S. economy and the foreign
exchange weakness of U.S. dollar.”
John Williams continues: Read More @ KingWorldNews.com
John
Williams, of Shadowstats, notes that fundamental conditions for the US
dollar could not be worse. Williams says the record lack of confidence
by the US public in their government now threatens global currency
stability. Here is what Williams had to say about the situation: “One
of the more important, long-range underlying variables impacting the
exchange rate value of the U.S. dollar is the net foreign trade position
of the United States. In the post World War II era, the U.S. trade
position first fell into net deficit in 1971. By the late-1970s,
widening annual trade shortfalls had become perpetual, as had the
resulting structural deterioration in the U.S. economy and the foreign
exchange weakness of U.S. dollar.”John Williams continues: Read More @ KingWorldNews.com
from DollarVigilante.com:
There
are countless reasons why leaving the country that purports to own you
has advantages. For one, whenever I return to my personal home country
of Canada – never for pleasure, only for business – I will usually run
across a typically socialist Canadian who will take great offence to my
worldview and will tell me, “If you don’t like it, leave!”
Nothing makes me happier than to tell them, “I did… and I’m so much happier now.”
No one ever has a comeback for that… except for the odd, “well, good….”.
You see, almost everyone in the western world, if not the entire world, has been trained to think in terms of their own geographic region. As soon as you go beyond that most can’t even understand.
Read More @ DollarVigilante.com
There
are countless reasons why leaving the country that purports to own you
has advantages. For one, whenever I return to my personal home country
of Canada – never for pleasure, only for business – I will usually run
across a typically socialist Canadian who will take great offence to my
worldview and will tell me, “If you don’t like it, leave!”Nothing makes me happier than to tell them, “I did… and I’m so much happier now.”
No one ever has a comeback for that… except for the odd, “well, good….”.
You see, almost everyone in the western world, if not the entire world, has been trained to think in terms of their own geographic region. As soon as you go beyond that most can’t even understand.
Read More @ DollarVigilante.com
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