Unprecedented Global Monetary Policy As World Trade Volume Craters
With the IMF cutting its global growth forecasts and signs of slowing evident in the dramatic contraction in World Trade Volume
in the last few months, it is perhaps no surprise that the central
banks of the world have embarked upon what Goldman Sachs calls an 'Unprecedented Alignment of Monetary Policy Across Countries'. Our earlier discussion of the European event risk vs global growth expectations dilemma along with last night's comments
on the impact of tightening lending standards around the world also
confirms that this policy globalization is still going strong and is
likely to continue as gaming out the situation (as Goldman has done)
left optimal CB strategy as one-in-all-in with no benefit to any from migrating away from the equilibrium of 'we all print together'. Perhaps gold (and silver's) move today (and for the last few months) reflects this sad reality that all your fiat money are belong to us, as nominal prices rise (but underperform PMs) in equities (and risky sovereigns and financials).The Silver Bullet and the Silver Shield – Part 8. The REAL Silver High
[Ed. Note: Part 1. Part 2. Part 3. Part 4. Part 5. Part 6. Part 7.]
This is a special report feautring Chris Duane from dont-tread-on.me and David Morgan from silver-investor.com. Chris and I explore the 1/10th ounce silver payment for a hard day’s labor which was the historical norm for centuries. And how that fractional payment will actually hold true in the future for millions of Americans once silver reaches its real all-time inflation adjusted high of $500 per ounce. David Morgan also joins us to explore the very real possibility of hyperinflation in the United States by the year 2014. So buckle up, this is a good one.
by Mac Slavo, SHTFPlan.com:
James Cameron, the Hollywood producer responsible for blockbuster films like Terminator, Titanic and Avatar, is reportedly preparing to exit stage left. While the move for the Canadian born Cameron may initially be perceived as a rejection or denouncement of American policies and ideals, Cameron, who has made campaign donations to the Democrat Party in the past, most notably during the 2004 Presidential election where he supported democrat John Kerry, may have ulterior motivations, as evidenced by where he’s planning on moving and what he’s planning on doing once he gets there.
From time to time we get a glimpse into the goings on of the well connected. This may be one of those moments:
Read More @ SHTFPlan.com
James Cameron, the Hollywood producer responsible for blockbuster films like Terminator, Titanic and Avatar, is reportedly preparing to exit stage left. While the move for the Canadian born Cameron may initially be perceived as a rejection or denouncement of American policies and ideals, Cameron, who has made campaign donations to the Democrat Party in the past, most notably during the 2004 Presidential election where he supported democrat John Kerry, may have ulterior motivations, as evidenced by where he’s planning on moving and what he’s planning on doing once he gets there.
From time to time we get a glimpse into the goings on of the well connected. This may be one of those moments:
Read More @ SHTFPlan.com
Under Twist, The Fed Has Purchased 91% Of All Gross Issuance In Long-Dated US Treasurys
One
of the salient questions asked of Bernanke by Congress relates to a
Kevin Warsh oped in the WSJ, in which he said the following: "Private
investors are crowded out of the market when the Fed shows up as a
large and powerful bidder. As a result, the administration and Congress
make tax and spending decisions—with huge implications for our standard
of living—with heightened risks around future funding costs."
This is arguably the question that dominates Fed policy making under
the Operation Twist doctrine, in which the Fed buys up long-dated paper
and sells Short dated (under 3 years), the second leg of which however
is completely irrelevant, as the Fed has already guaranteed ZIRP until 2014,
in essence confirming that Twist was nothing but a stealth QE3 as we
have claimed all along, as the Fed's ZIRP4EVA policy effectively offsets
any and all short-dated sales. Needless to say Bernanke's response was
irrelevant. However, here is the most jarring statistic. As
Barclays showed a few days back, under Twist, the Fed has monetized
virtually all, and specifically 91% of all gross issuance in the 20-30
year maturity bucket. In other words, Warsh is absolutely spot
on, and once again we are left with an artificial market in which it is
only the Fed that defines the UST curve shape by molding the long end.
What happens when Twist ends? Will the 30 Year collapse? What happens
when there is no explicit back stop to the long end? Is this the reason
why Bill Gross yesterday said that he fully expects much more check
writing by the Fed for the next '12, 24, 36 months." And how can it not:
we don't have a market of rational players any more - the entire
market is merely one irrational player, whose biggest counterparty
incidentally, the ECB, is beyond broke. Finally, what happens to the
Fed's balance sheet when interest rates start rising? Holding a
portfolio with a duration greater than it has ever been, the DV01 is
currently well over $2 billion (i.e. a $2 billion loss on every basis
point increase in rates). And rising.
by Dr. Paul Craig Roberts, PaulCraigRoberts.org:
If
you have any money and you want to understand the lies that “your”
government tells you with statistics, subscribe to John Williams shadowstats.com.
John Williams is the best and utterly truthful statistician that we the people have.
The charts below come from John Williams Hyperinflation Report, January 25, 2012. The commentary is supplied by me.
Here is the chart of real average weekly earnings deflated by the US government’s own measure of inflation, which as I pointed out in my recent column, Economics Lesson 1, understates true inflation.
Read More @ PaulCraigRoberts.org
If
you have any money and you want to understand the lies that “your”
government tells you with statistics, subscribe to John Williams shadowstats.com.John Williams is the best and utterly truthful statistician that we the people have.
The charts below come from John Williams Hyperinflation Report, January 25, 2012. The commentary is supplied by me.
Here is the chart of real average weekly earnings deflated by the US government’s own measure of inflation, which as I pointed out in my recent column, Economics Lesson 1, understates true inflation.
Read More @ PaulCraigRoberts.org
ACTA – Blueprint for a Global Takeover of the Internet
You Decide...
by Mike Adams, NaturalNews.com:
(NaturalNews) When you buy Microsoft products, you are now promoting the pharmaceutical industry and its global vaccine agenda. That’s the new reality in which we live, where the world’s largest software company is “in bed” with the world’s largest vaccine pusher.
How so? In 2009, Microsoft purchased a key piece of technology from the drug company Merck, the world’s largest maker of vaccines (which Bill Gates says can help “reduce the global population” by 10 to 15 percent). That technology, as you’ll see below, can conceivably be used to develop eugenics vaccines that target specific races and nationalities with infertility-inducing pharmaceuticals — something that is entirely consistent with Bill Gates’ openly-admitted goal of reducing world population through the use of vaccines (see link to video below).
This gene-targeting vaccine research technology purchased by Microsoft was developed by the company known as Rosetta Biosciences, formerly owned by Merck. Their software is described as a way to “figure out how genes interact with each other, analyze peptides and metabolites, and determine how they relate to gene expression.” (http://seattletimes.nwsource.com/html/microsoft/2009288622_rosetta020…)
Read More @ NaturalNews.com
(NaturalNews) When you buy Microsoft products, you are now promoting the pharmaceutical industry and its global vaccine agenda. That’s the new reality in which we live, where the world’s largest software company is “in bed” with the world’s largest vaccine pusher.
How so? In 2009, Microsoft purchased a key piece of technology from the drug company Merck, the world’s largest maker of vaccines (which Bill Gates says can help “reduce the global population” by 10 to 15 percent). That technology, as you’ll see below, can conceivably be used to develop eugenics vaccines that target specific races and nationalities with infertility-inducing pharmaceuticals — something that is entirely consistent with Bill Gates’ openly-admitted goal of reducing world population through the use of vaccines (see link to video below).
This gene-targeting vaccine research technology purchased by Microsoft was developed by the company known as Rosetta Biosciences, formerly owned by Merck. Their software is described as a way to “figure out how genes interact with each other, analyze peptides and metabolites, and determine how they relate to gene expression.” (http://seattletimes.nwsource.com/html/microsoft/2009288622_rosetta020…)
Read More @ NaturalNews.com
Today
legendary value investor, Jean-Marie Eveillard told King World News
central banks and investors have been overwhelming technicals in the
gold market. But first, Eveillard, who oversees $50 billion at First
Eagle Funds, had this to say about the bond market, “This is another
instance of the Fed printing money like there is no tomorrow. The Fed
is obviously not very optimistic about the economy. The Fed, the Bank
of England and other central banks have been printing money now for
several years. The strange thing is investors in government bonds in
the UK and the US don’t seem to be worried about it.”
Jean Marie Eveillard continues: Read More @ KingWorldNews.com
Thank You for visiting our sponsors.
How is borrowing money based on fraudulent claims of asset value and future income any different from counterfeiting money?
Let’s compare three financial criminals. The first is an old-fashioned counterfeiter who doctors up paper and runs a printing press to produce fake currency.
The second criminal borrows money based on a fraudulent asset and phantom future income. For example, the criminal might obtain a credit card based on false assets and income, or borrow money against a property that is worth far less than he claims and base his credit on an inflated fantasy income he does not actually receive.
The third criminal borrows money from the Federal Reserve at zero interest and extends a loan to a fraudulent borrower because a government agency has guaranteed the loan. Whatever income the lender receives is pure gravy, and whatever losses are incurred when the fraud is uncovered are made good by the taxpayer.
Read More @ OfTwoMinds.com
Let’s compare three financial criminals. The first is an old-fashioned counterfeiter who doctors up paper and runs a printing press to produce fake currency.
The second criminal borrows money based on a fraudulent asset and phantom future income. For example, the criminal might obtain a credit card based on false assets and income, or borrow money against a property that is worth far less than he claims and base his credit on an inflated fantasy income he does not actually receive.
The third criminal borrows money from the Federal Reserve at zero interest and extends a loan to a fraudulent borrower because a government agency has guaranteed the loan. Whatever income the lender receives is pure gravy, and whatever losses are incurred when the fraud is uncovered are made good by the taxpayer.
Read More @ OfTwoMinds.com
Thank You for visiting our sponsors.
Kerry Lutz “Triple Lutz Report” 157: “Credit Default Swaps Are Toast”
Click Here to Listen to the Podcast
The
Facebook IPO and the $80 billion Glencore/Xstrata merger are the talk
of the markets this morning, with both lending encouragement to
equities. North American stock markets had another up day yesterday,
with Asian exchanges recording further gains this morning. European
markets are however more mixed, with continuing Greek debt talks casting
a shadow over the generally bullish mood.
April Comex gold futures – the most actively traded month – settled
just 50 cents shy of $1,750 per troy ounce. $1,750 is becoming an
increasingly significant short-term resistance level for gold.
Encouraging news about German and Chinese manufacturing output led to
more selling of the US dollar as investors headed back to risk assets,
with the US Dollar Index (USDX) falling by 0.46% to settle at 78.92.
Read More @ GoldMoney.com
Read More @ GoldMoney.com
It would be nice if the U.S. kept its word when it signs those
international agreements that are in some kind of accord with rights and
advance the international maintenance of rights.
The U.S. has not done this with Iran.
The U.S. and Iran signed the Algiers Accords in 1981 to end the hostage crisis. See also here. Point 1 of the accords is titled “Non-Intervention in Iranian Affairs”. It reads (in full):
Read More @ LewRockwell.com
L: Doug-Sama, I’ve heard you say you think the US is setting Iran up to be the next fall guy in the wag-the-dog show – do you think it could really come to open warfare?
Doug: Yes, I do. It could just be saber rattling during an election year, but Western powers have been provoking Iran for years now – two decades, really. I just saw another report proclaiming that Iran is likely to attack the US, which is about as absurd as the allegations Bush made about Iraq bombing the US, when he fomented that invasion. It’s starting to look rather serious at this point, so I do think the odds favor actual fighting in the not-too-distant future.
L: Could they really be so stupid?
Doug: You know the answer to that one. We’re dealing with criminal personalities on both sides, and criminals are basically very stupid – meaning they have an unwitting tendency to self-destruction. One thing to remember is that most of those in power in the West still believe the old economic fallacy that war is good for the economy.
Read More @ CaseyResearch.com
The U.S. has not done this with Iran.
The U.S. and Iran signed the Algiers Accords in 1981 to end the hostage crisis. See also here. Point 1 of the accords is titled “Non-Intervention in Iranian Affairs”. It reads (in full):
“The United States
pledges that it is and from now on will be the policy of the United
States not to intervene, directly or indirectly, politically or
militarily, in Iran’s internal affairs.”
This is a pragmatically wise policy. Moreover, it is in the direction
of respecting the rights of Iranians and also those non-Iranians who
have dealings with Iranians. Overall, it is an agreement that settled a
potentially explosive situation. It moved toward peace.Read More @ LewRockwell.com
People That Want Freedom Should Vote For Ron Paul
L: Doug-Sama, I’ve heard you say you think the US is setting Iran up to be the next fall guy in the wag-the-dog show – do you think it could really come to open warfare?
Doug: Yes, I do. It could just be saber rattling during an election year, but Western powers have been provoking Iran for years now – two decades, really. I just saw another report proclaiming that Iran is likely to attack the US, which is about as absurd as the allegations Bush made about Iraq bombing the US, when he fomented that invasion. It’s starting to look rather serious at this point, so I do think the odds favor actual fighting in the not-too-distant future.
L: Could they really be so stupid?
Doug: You know the answer to that one. We’re dealing with criminal personalities on both sides, and criminals are basically very stupid – meaning they have an unwitting tendency to self-destruction. One thing to remember is that most of those in power in the West still believe the old economic fallacy that war is good for the economy.
Read More @ CaseyResearch.com
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