There Will Never Be A Failed US Treasury Auction... Until There Is

Do you think the US will always and forever be able to pay for our over-bloated military-industrial complex and our wars of choice? Do you think the federal housing agencies will always and forever be able to subsidize the real estate industry with money losing, non-economic mortgage loans? Do you think the government will always and forever be able to pay on the promises they've made regarding Social Security, Medicare and Medicade? Do you think the government will always and forever be able to extend debt-enslaving, subsidized student loans to anyone with a pulse? Do you think the fiat ponzi central planners at the Fed will always and forever be able to manipulate the Treasury curve to whatever levels the Oracles of Delphi decide? If you answer yes to the above, ask yourself this: how would all of these things be affected if the average interest rate paid by the US was to rise to 5%? At today's debt level of $15.6 trillion, the interest expense would be approximately $780 billion or about 35% of total government revenues. Welcome to the United States of Greece. Next stop, bankruptcy.

Painful Revelations With Mark Grant As We Edge Down The Holmesian Path

Let us take another step down the Holmesian path. As the economies in Italy and Spain deteriorate who will be seriously affected: Germany. Two of their largest buyers of their goods and services will radically cut back on their purchases and the German economy, for the first time in this cycle, will suffer as buyers are no longer able to afford various services. The circle always completes and the consequences will not be pleasant; this circle, in fact, will resemble a noose that is pulled tighter and tighter with each passing quarter and the pay master for the European Union will shrink as their economy, currently at the $3.2 trillion mark, sinks back towards $2.5 trillion during the next year. There will be screams of anguish aplenty and you might begin now to make the necessary adjustments to this coming reality. Then as Italy and Spain soon line up at the till you will see the Real Hurt being on which is why Europe is begging the IMF, the G-20, China and Japan for funds because they now have the burning smell in their nostrils of damaged flesh that has been singed and is about to be cooked and served up fresh in the begging bowls of those urchins turned out into the street.

Why people should buy gold – Drew Mason interviewed by Alasdair Macleod

from GoldMoneyNews :

Trader Dan on King World News Weekly Metals Wrap

Trader Dan at Trader Dan's Market Views - 1 hour 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/7764elv* more »

 

 

We Have To Think Realistically: The Debts Are Still There

Admin at Marc Faber Blog - 2 hours ago

*Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.* more »

 

 

Favorite Saying: Try, Try Again. Persevere.

Admin at Jim Rogers Blog - 2 hours ago

Try, try again. Persevere. - *favourite saying* *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.*

Martenson Interviews Khosla Ventures: The US Is Massively Underfunding The Innovations Critical To Its Energy Future

"The age of cheap oil is over," agrees Andrew Chung, partner at Khosla Ventures, arguably the most knowledgeable venture capital firm spearheading next-generation energy projects. While perhaps more optimistic than Chris on the odds that the world can transition off fossil energy sources without experiencing some duration of lower overall energy output, Andrew is clear to point out that large and near-term capital investments are essential for such a smooth transition. The size and scale of the investments necessary to evolve and replace our existing (and increasingly outdated) power infrastructure are enormous, and too big for private companies alone to address the issue on an acceptable timeline. And as of now, the U.S. is decidedly NOT treating the matter with the urgency it deserves. Of the total U.S. budget, the Department of Energy receives only 8%; and only 0.1% of the total budget is directed to the alternative technologies we hope will one day replace our fossil-based sources. By contrast, China alone is dedicating $800 billion over the next ten years to help support the development and commercialization of alternative technologies and cleantech. In the coming decades, the efficient and effective use of energy is going to be a real determinant between winners and loser across the global landscape. Affordable, sustainable energy will increasingly determine the prosperity of world powers -- and America is at a growing relative disadvantage until it starts talking honestly with itself about the un-sustainability of its current energy policies and prioritizing its resources (both monetary and human) accordingly.

The Weekly Update - NFP And DMA

In a very thin market, the S&P futures came very close to hitting their 50 DMA on Friday. The S&P futures went from a high of 1,418 on Monday, to trade as low as 1,372 on Friday. A 46 point swing is healthy correction at the very least, if not an ominous warning sign of more problems to come. There were 3 key drivers to the negative price action in stocks this week. All 3 of them will continue to dominant issues next week.

Greyerz – Gold Bottom, $25 Trillion in Debt, ECB & Swiss Franc

from KingWorldNews:
Today Egon von Greyerz told King World News that around the world, the average debt to GDP is at a staggering 350%. Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Von Greyerz also stated that even if the number was cut in half, to 175% debt to GDP, it would require the elimination of $25 trillion of debt. But first, here is what Greyerz had to say about what is happening in Europe: “Yesterday the Swiss franc came very close to the 1.20 level versus the euro. This is happening because bad economic news is coming out of Europe. Industrial production is falling and Spanish rates versus German rates, there is now a 4% gap, now people are getting worried about that again. So they are buying the Swiss franc.”
Egon von Greyerz continues @ KingWorldNews.com

ndian gold taxes ‘hurting traditional culture’

from Gold Money:
The Indian government’s recent decision to significantly raise taxes on gold imports is being subject to increasing criticism from members of parliament, investors and dealers, with some describing the measures as an attack on traditional Indian culture. Many dealers are afraid that their businesses will suffer significant losses, and have been on strike since mid March. The government hopes that the new taxes will reduce the country’s current account deficit and help strengthen the Indian rupee.
As stated in a letter from parliamentarian Shantaram Naik to Prime Minister Manmohan Singh, the Indian weeding season plays an important role in India’s traditional culture. But a wedding season without gifts in the form of gold jewellery and ornaments is inconceivable to many Indians – the jewellery sector being an important cultural and economic bulwark for the nation. Drastic rises in gold import taxes will not only hurt numerous Indian gold and jewellery dealers, but will also negatively affect the wedding intentions of many Indians.
Read More @ GoldMoney.com

Tax Bill Is Beginning of Formal Debt Criminalization

from The Daily Bell:

The United States Congress is steadily headed to a place where those who owe money to the US government shall be treated criminally.

This phenomenon is advancing domestically and now, increasingly, internationally. The first shot in this latest campaign took place in 2010 when US President Barack Obama signed into law The Foreign Account Tax Compliance Act. It demanded, basically, that foreign banks withhold up to 30 percent of the income that an American abroad might earn.
This bill isn’t working so well because overseas banks are not cooperating (a state of affairs that was certainly expected). Thus, there is a need for something else: Senate Bill 1813, recently introduced by Senator Barbara Boxer (D-CA). This bill, in part, states that taxpayers with unpaid taxes over US$50,000 may find their passports confiscated.
Read More @ TheDailyBell.com

Embry: Gartman Inept, CNBC Wrong, Gold Demand off the Hook

from KingWorldNews:
With tremendous volatility in gold and silver, and oil holding well above the $103 level, King World News interviewed John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management. Embry told KWN that bullion dealers are telling him phones are ring off the hook and demand is incredible. But first, here is what Embry had to say about recent events and what is happening in the gold market: “I think perhaps the most bullish thing I saw yesterday was that Dennis Gartman has pronounced the end of the gold bull market as a result of the Fed’s actions. Nothing could be further from the truth. Given Dennis’s unbelievably inept record at calling the gold price, in both directions, I regard this event as wildly bullish.”
John Embry continues @ KingWorldNews.com

Technician Frank Barbera: Raging Bull Market in Gold Stocks Ahead

from Financial Sense:

Jim is pleased to welcome back technician Frank Barbera this week. Frank sees the gold stocks as massively bottomed out, and believes this is the time to muster the courage and step to the plate. Ryan Puplava gives his weekly Market Update and Rob Bernard has the Fixed Income Report.
Click Here to Listen

Silver Shield: Chris Duane

Thousands welcome Ron Paul at UC Berkeley

 

Reuters Bamboozles the Public, Dedicates Hit Piece to Silver

from Silver Vigilante:
In an article Thursday, entitled silver: poor man’s gold turning to fool’s gold, Reuters warned silver bulls against their own optimism at the metal’s strong first-quarter price rise. The piece reads:
“Its advocates say silver, which occupies a middle ground between industrial metals like copper and investment vehicles like gold, can benefit both from the fledgling economic recovery that is lifting copper and from the investment that is driving gold.”
Coyly so, Reuters degrades silver from the status of precious metal—as it has been for thousands of years—to a a sub-precious metal or even premium-base metal. This “middle ground” that Reuters maintains exists is an imaginary space conjured up by the propagandists of news-speak, who, like Winston Smith of 1984 before them, remake reality in the powers-that-be’s own image. Silver is a precious metal, and one which has served civilization as money for milennia. There’s no good reason to discount it now, except when blinded by the holy-lie of fundamentalist dollarism.
Read More @ silvervigilante.com

 

Silver Manipulation: ‘High Frequency Shearing’ – Mike Maloney

from whygoldandsilver :
In this video with RT Capital Account’s Lauren Lyster, Mike Maloney talks about a mission critical topic for gold and silver investors—manipulation. Governments and central banks around the world manage the action of markets to maintain an illusion of prosperity, but Mike calls gold and silver the “canaries in the coal mine.”

 

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