from KingWorldNews:
Today John Embry told King World News, “This situation is
unprecedented. The world has never, ever been in a condition like
this.” Embry, who is Chief Investment Strategist of the $10 billion
strong Sprott Asset Management, also told KWN, “anyone that is
complacent will be shocked at the chaos that is heading our way.” Here
is what Embry had to say about the situation: “I think we’re in
an extraordinary place. It’s becoming obvious that Europe is
imploding, and the powers that be really don’t have any solutions. I’m
very worried about China. Lawrence Summers recently said China may have
a year in which it only grows 7% in the next decade.”
This situation is unprecedented. The world has never, ever been in a condition like this. As a result, anyone that is complacent here and says, ‘This is just business as usual,’ they are dead wrong and will be shocked at the chaos that is heading our way.
John Embry continues @ KingWorldNews.com
from Silver Doctors:
In what CNBC calls ‘a stupid decision‘,
JP Morgan has reportedly sold $25 billion in profitable bonds and
securities to offset trading losses from its IG9 derivatives crisis.
If it was merely an effort to prop up earnings for JPM’s Q2 report we would agree, but this is more likely JP Morgan LIQUIDATING CAPITAL TO MEET MASSIVE MARGIN CALLS OVER ITS ESCALATING INTEREST RATE SWAP LOSSES, which we have discussed are reportedly close to $100 Billion. Bankers are not fools, throwing good money after bad. If JPM sold $25 billion in profitable positions, it is because IT WAS FORCED TO.
JPMorgan Chase has sold an estimated $25 billion of profitable securities in an effort to prop up earnings after suffering trading losses tied to the bank’s now-infamous “London Whale,” compounding the cost of those trades.
Read More @ SilverDoctors.com
As I outlined in my recent article, ‘Stumbling Blocks to ‘Global Governance in a Changing World‘, we can get an insider’s look at the issues plaguing the elite by tuning in to the Council on Foreign Relations You Tube channel.
In the latest video from the CFR, former U.S. Treasury Secretary and Goldman man Robert Rubin explains how dire the situation in the Euro Zone has become. It’s clear now that although the ECB has the ability to “print” what ever amount of currency is needed to fill all of the EU holes, it cannot do so without destroying confidence which would lead to a cascade event devastating bond and stock markets and sparking bank runs. Think financial Armageddon. Got physical?
from CFR:
“If the eurozone continues to unravel,” Rubin cautions, “not only will that have very serious consequences for the eurozone, but I believe it will have serious and maybe even severe consequences for the entire global economy, including the United States.”
Meet Illinois State Representative Mike Bost.
Mike was given a 200-page pension Bill and about 15 minutes to read it. Apparently this is a common practice. Which is why America – and the state of Illinois – has been transformed into a Banana Republic.
Despite the smug look on the face of the woman seated behind Mike during his epic “Let my people go” rant, Mike’s absolutely right. Enough is enough. “When’s it going to stop?”
Today John Embry told King World News, “This situation is
unprecedented. The world has never, ever been in a condition like
this.” Embry, who is Chief Investment Strategist of the $10 billion
strong Sprott Asset Management, also told KWN, “anyone that is
complacent will be shocked at the chaos that is heading our way.” Here
is what Embry had to say about the situation: “I think we’re in
an extraordinary place. It’s becoming obvious that Europe is
imploding, and the powers that be really don’t have any solutions. I’m
very worried about China. Lawrence Summers recently said China may have
a year in which it only grows 7% in the next decade.”This situation is unprecedented. The world has never, ever been in a condition like this. As a result, anyone that is complacent here and says, ‘This is just business as usual,’ they are dead wrong and will be shocked at the chaos that is heading our way.
John Embry continues @ KingWorldNews.com
In what CNBC calls ‘a stupid decision‘,
JP Morgan has reportedly sold $25 billion in profitable bonds and
securities to offset trading losses from its IG9 derivatives crisis.
If it was merely an effort to prop up earnings for JPM’s Q2 report we would agree, but this is more likely JP Morgan LIQUIDATING CAPITAL TO MEET MASSIVE MARGIN CALLS OVER ITS ESCALATING INTEREST RATE SWAP LOSSES, which we have discussed are reportedly close to $100 Billion. Bankers are not fools, throwing good money after bad. If JPM sold $25 billion in profitable positions, it is because IT WAS FORCED TO.
JPMorgan Chase has sold an estimated $25 billion of profitable securities in an effort to prop up earnings after suffering trading losses tied to the bank’s now-infamous “London Whale,” compounding the cost of those trades.
Read More @ SilverDoctors.com
by Greg Weldon, Casey Research:
Louis James:
Welcome, ladies and gentlemen. Here with us is Greg Weldon of Weldon
Financial, who has just given a talk. Why don’t you give us the quick
version for our viewers who didn’t make it today?
Greg Weldon: The quick version of the hour speech I just gave in 35 minutes? Yes. Well, the speech is “the recovery: is it a reality or is it not?” The recovery is a perception that has been generated by trillions of dollars added by the central banks to the system – and I think the answer is a little bit of both. I mean, the reality is that they’ve added trillions of dollars to the system and this has successfully reflated asset prices.
Read More @ CaseyResearch.com
Louis James:
Welcome, ladies and gentlemen. Here with us is Greg Weldon of Weldon
Financial, who has just given a talk. Why don’t you give us the quick
version for our viewers who didn’t make it today?Greg Weldon: The quick version of the hour speech I just gave in 35 minutes? Yes. Well, the speech is “the recovery: is it a reality or is it not?” The recovery is a perception that has been generated by trillions of dollars added by the central banks to the system – and I think the answer is a little bit of both. I mean, the reality is that they’ve added trillions of dollars to the system and this has successfully reflated asset prices.
Read More @ CaseyResearch.com
As I outlined in my recent article, ‘Stumbling Blocks to ‘Global Governance in a Changing World‘, we can get an insider’s look at the issues plaguing the elite by tuning in to the Council on Foreign Relations You Tube channel.
In the latest video from the CFR, former U.S. Treasury Secretary and Goldman man Robert Rubin explains how dire the situation in the Euro Zone has become. It’s clear now that although the ECB has the ability to “print” what ever amount of currency is needed to fill all of the EU holes, it cannot do so without destroying confidence which would lead to a cascade event devastating bond and stock markets and sparking bank runs. Think financial Armageddon. Got physical?
from CFR:
“If the eurozone continues to unravel,” Rubin cautions, “not only will that have very serious consequences for the eurozone, but I believe it will have serious and maybe even severe consequences for the entire global economy, including the United States.”
Meet Illinois State Representative Mike Bost.
Mike was given a 200-page pension Bill and about 15 minutes to read it. Apparently this is a common practice. Which is why America – and the state of Illinois – has been transformed into a Banana Republic.
Despite the smug look on the face of the woman seated behind Mike during his epic “Let my people go” rant, Mike’s absolutely right. Enough is enough. “When’s it going to stop?”
from 100thMonkeyChannel:
Mike Maloney shares his thoughts on fiat currencies. This clip is from the documentary “End of the Road: How Money Became Worthless”.
Mike Maloney shares his thoughts on fiat currencies. This clip is from the documentary “End of the Road: How Money Became Worthless”.
from The Daily Bell:
U.S. Dollar and Euro – Review and Outlook … Going forward, we consider that central banks
around the world are likely to err on the side of further monetary
policy easing. Our analysis finds that the composition of voting members
on the Fed’s Federal Open Market Committee (FOMC) is more dovish in
2012 compared to 2011 and is set to become even more dovish in 20131. We
therefore consider it very likely that rates will be kept low for an
extended period of time in the U.S. and, should economic fundamentals
deteriorate, further easing policies may be put in place. Elsewhere, the
Bank of Japan appears committed to generating inflation via easing
policies, while the Bank of England
appears to be more concerned about deflation despite the existence of
what we deem to be elevated inflationary pressures (as measured by the
consumer price index) … We continue to believe the currency asset class
may provide investors with the opportunity to access enhanced
risk-adjusted returns and valuable diversification benefits. We are
excited about the outlook for the asset class and believe many
investment opportunities continue to exist in the space. – Axel Merk,
Merk Funds
Dominant Social Theme: Opportunities abound if we just reach out and pluck them.
Free-Market Analysis: For many people this is a terrible time but for those with the wherewithal to invest their funds or the funds of others, the current environment offers many opportunities.
Read More @ TheDailyBell.com
by Dr. Jeffrey Lewis, Silver Seek:
Recently, Bill Holter, a contributor to The Lemetropolecafe
pointed out an interesting relationship between two major economic
indicators and the quiet desperation that is propping up the world
financial system.
The Baltic Dry Index or BDI provides a daily assessment of the
cost of shipping key raw commodities by sea and is issued by London’s
Baltic Exchange. The index covers 23 shipping routes for dry bulk
carriers on a timecharter basis. These large ships move various
commodities, such as coal, grain and iron ore, around the world.
Read More @ Silver Seek
U.S. Dollar and Euro – Review and Outlook … Going forward, we consider that central banks
around the world are likely to err on the side of further monetary
policy easing. Our analysis finds that the composition of voting members
on the Fed’s Federal Open Market Committee (FOMC) is more dovish in
2012 compared to 2011 and is set to become even more dovish in 20131. We
therefore consider it very likely that rates will be kept low for an
extended period of time in the U.S. and, should economic fundamentals
deteriorate, further easing policies may be put in place. Elsewhere, the
Bank of Japan appears committed to generating inflation via easing
policies, while the Bank of England
appears to be more concerned about deflation despite the existence of
what we deem to be elevated inflationary pressures (as measured by the
consumer price index) … We continue to believe the currency asset class
may provide investors with the opportunity to access enhanced
risk-adjusted returns and valuable diversification benefits. We are
excited about the outlook for the asset class and believe many
investment opportunities continue to exist in the space. – Axel Merk,
Merk FundsDominant Social Theme: Opportunities abound if we just reach out and pluck them.
Free-Market Analysis: For many people this is a terrible time but for those with the wherewithal to invest their funds or the funds of others, the current environment offers many opportunities.
Read More @ TheDailyBell.com
from CapitalAccount:
Welcome to Capital Account. On today’s show, we have a story you may have not heard before, from a person that you have definitely not heard from before. It’s a story about America’s financial crisis, its mortgage crisis, and the foreclosure fraud that enveloped the United States during the past decade. That person is Lan T. Pham, the famous CBO whistleblower who was fired from her job for telling the truth about systemic fraud and corruption in America’s mortgage market and financial system.
Welcome to Capital Account. On today’s show, we have a story you may have not heard before, from a person that you have definitely not heard from before. It’s a story about America’s financial crisis, its mortgage crisis, and the foreclosure fraud that enveloped the United States during the past decade. That person is Lan T. Pham, the famous CBO whistleblower who was fired from her job for telling the truth about systemic fraud and corruption in America’s mortgage market and financial system.
by Dillon Gage Metals, CoinWeek.com:
Why
invest in silver rather than something else? Last year the gray metal
scaled its 1980 high and reached an all-time high of $48.78 an ounce as
investor demand swelled. “Prices have pulled back, but we expect them to
retest the recent high at some point, “Hanlon says. “Though silver’s
usage in photography has declined, new industrial applications are being
discovered for it all the time.”
“Silver is the best electrical and thermal conductor of all the metals, and it is used in many electrical applications,” Terry Hanlon observes. “Silver is used to make photovoltaic cells and coatings for compact discs and DVDs. And because of its disinfectant properties, silver is increasingly used in medical applications, including catheters and breathing tubes.”
Combined usage in jewelry, coins, photography, silverware and other industries, which accounts for over 80 percent of total annual silver demand, is expected to rise between 3 and 5 percent in 2012 to around 900 million ounces worldwide, according to Gold Fields Mineral Services, a respected metals research firm in London.
Read More @ CoinWeek.com
Why
invest in silver rather than something else? Last year the gray metal
scaled its 1980 high and reached an all-time high of $48.78 an ounce as
investor demand swelled. “Prices have pulled back, but we expect them to
retest the recent high at some point, “Hanlon says. “Though silver’s
usage in photography has declined, new industrial applications are being
discovered for it all the time.”“Silver is the best electrical and thermal conductor of all the metals, and it is used in many electrical applications,” Terry Hanlon observes. “Silver is used to make photovoltaic cells and coatings for compact discs and DVDs. And because of its disinfectant properties, silver is increasingly used in medical applications, including catheters and breathing tubes.”
Combined usage in jewelry, coins, photography, silverware and other industries, which accounts for over 80 percent of total annual silver demand, is expected to rise between 3 and 5 percent in 2012 to around 900 million ounces worldwide, according to Gold Fields Mineral Services, a respected metals research firm in London.
Read More @ CoinWeek.com
by Reggie Middleton, BoomBustBlog.com:
The euro zone should move toward a banking union and consider
recapitalizing its banks using its permanent bailout fund, the European
Stability Mechanism, the European Commission said on Wednesday, in
remarks that briefly boosted stocksand the euro.
The euro zone should move toward a banking union and consider
recapitalizing its banks using its permanent bailout fund, the European
Stability Mechanism, the European Commission said on Wednesday, in
remarks that briefly boosted stocksand the euro.
The European Union’s executive arm said in documents laying out recommendations for theeuro [EUR=X 1.2422 (-0.51%)]area
that the crisis had slowed the financial integration process and
“ambitious steps to accelerate and deepen financial integration may be
needed.”
“More specifically, a closer
integration among the euro area countries in supervisory structures and
practices, in cross-border crisis management and burden sharing, towards
a ‘banking union’ would be an important complement to the current
structure of [the Economic and Monetary Union],” the European Commission
said in the documents.
Read More @ BoomBustBlog.com
by Brandon Turbeville, Activist Post
In what appears to be a growing movement in the United States
Congress, at least two different pieces of legislation have been
introduced during the course of this year that would involve the
stripping of travel rights and the possession of passports for a variety
of reasons.
The more draconian of the two bills, The Moving Ahead For Progress Act (MAP-21) S. 1813, actually allows for the “revocation or denial” of a passport for anyone who has delinquent or unpaid taxes. This is why Eric Blair of Activist Post has labeled it the “Keeping the Slaves on the Plantation Act.”
Section 40304 of the bill states in clear language, “that any individual has a seriously delinquent tax debt in an amount in excess of $50,000, the Secretary shall transmit such certification to the Secretary of State for action with respect to denial, revocation, or limitation of a passport.”
Read More @ Activist Post
from MorphCity:
In what appears to be a growing movement in the United States
Congress, at least two different pieces of legislation have been
introduced during the course of this year that would involve the
stripping of travel rights and the possession of passports for a variety
of reasons.The more draconian of the two bills, The Moving Ahead For Progress Act (MAP-21) S. 1813, actually allows for the “revocation or denial” of a passport for anyone who has delinquent or unpaid taxes. This is why Eric Blair of Activist Post has labeled it the “Keeping the Slaves on the Plantation Act.”
Section 40304 of the bill states in clear language, “that any individual has a seriously delinquent tax debt in an amount in excess of $50,000, the Secretary shall transmit such certification to the Secretary of State for action with respect to denial, revocation, or limitation of a passport.”
Read More @ Activist Post
from MorphCity:
By Bill Bonner, DailyReckoning.com.au:
Darn! Day after day, the Dow is headed down.
Finally, on Thursday of last week, stocks caught a break. The end of a long losing streak. But then…on Friday…down again, with a 74 point loss for the Dow.
Gold lost money too. Oil closed right on the $90 mark.
What’s going on? The Wall Street Journal reports:
New signs of a global slowdown are darkening the economic outlook.
On Thursday, the US reported that businesses were slowing their orders of computers, aircraft, machinery and other long-lasting goods. Measures of business sentiment in Europe slipped, and reports from purchasing managers at manufacturers around the globe turned down. Among them, China, the world’s second-largest economy, registered its seventh straight drop in an important manufacturing index.
Read More @ DailyReckoning.com.au
from Liberty Blitzkrieg
While the 1% slogan of OWS was catchy, the real power players and
enemies of humanity reside in a much, much smaller 0.0001% or so. This
group includes dynastic banking families as well as a lot of European
royals who supposedly have “no power.” If you believe that, I’ve got a
bridge to sell you. In light of the fact that the Bilderberg meeting is
being held in the United States starting today through June 3, I
suggest everyone watch this one minute video.
Darn! Day after day, the Dow is headed down.Finally, on Thursday of last week, stocks caught a break. The end of a long losing streak. But then…on Friday…down again, with a 74 point loss for the Dow.
Gold lost money too. Oil closed right on the $90 mark.
What’s going on? The Wall Street Journal reports:
New signs of a global slowdown are darkening the economic outlook.
On Thursday, the US reported that businesses were slowing their orders of computers, aircraft, machinery and other long-lasting goods. Measures of business sentiment in Europe slipped, and reports from purchasing managers at manufacturers around the globe turned down. Among them, China, the world’s second-largest economy, registered its seventh straight drop in an important manufacturing index.
Read More @ DailyReckoning.com.au
from Liberty Blitzkrieg
While the 1% slogan of OWS was catchy, the real power players and
enemies of humanity reside in a much, much smaller 0.0001% or so. This
group includes dynastic banking families as well as a lot of European
royals who supposedly have “no power.” If you believe that, I’ve got a
bridge to sell you. In light of the fact that the Bilderberg meeting is
being held in the United States starting today through June 3, I
suggest everyone watch this one minute video. Recently, Bill Holter, a contributor to The Lemetropolecafe
pointed out an interesting relationship between two major economic
indicators and the quiet desperation that is propping up the world
financial system. Read More @ Silver Seek
from KingWorldNews:
Today top Citibank analyst, Tom Fitzpatrick, spoke with King World
News about global markets, gold and the US dollar. Fitzpatrick, a 28
year veteran and top analyst at Citibank, which has $1.3 trillion in
assets, said that, despite bounces, stock markets will continue to head
lower in the coming weeks. Fitzpatrick included two important charts,
but first, here is what he had to say about the moves in the US dollar
and the euro: “Our bias, as it has been for a number of weeks,
is that we’ve started another down-move in euro/dollar, very similar to
what we saw in late August, early September of last year. That yielded
quite a move once we made the technical break.”
Tom Fitzpatrick continues @ KingWorldNews.com
from NBC News, via MoxNewsDotCom:
Today top Citibank analyst, Tom Fitzpatrick, spoke with King World
News about global markets, gold and the US dollar. Fitzpatrick, a 28
year veteran and top analyst at Citibank, which has $1.3 trillion in
assets, said that, despite bounces, stock markets will continue to head
lower in the coming weeks. Fitzpatrick included two important charts,
but first, here is what he had to say about the moves in the US dollar
and the euro: “Our bias, as it has been for a number of weeks,
is that we’ve started another down-move in euro/dollar, very similar to
what we saw in late August, early September of last year. That yielded
quite a move once we made the technical break.” Tom Fitzpatrick continues @ KingWorldNews.com
from NBC News, via MoxNewsDotCom:
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