Europe's Firewall Is Insufficient - A One Chart Explanation

Unlike Eurocrat rhetoric, which is increasingly full of lies (thank you Jean Claude), prevarications, and half-truths, math is simple and binary. There either are enough numbers, or there aren't. In the case of the European firewall, there aren't (and that is even assuming the IMF somehow manages to convert all the money pledged for a European bailout bailout into money available for disbursement... because there is a world of difference between the two).

Italy And The Great Tax Revolt

Taxation is theft. There is no denying this.  If I and a few brutes appeared at the door of an unsuspecting individual and demanded monetary compensation less we drag him off to jail, this would be a clear cut case of robbery.  It is a common tactic used by mobs or street gangs to offer protection with the barrel of a gun.  The only difference between shakedowns by private thugs and those employed by the state is the badge.  The badge legalizes extortion and imprisonment. With that being said, it has been three years since the financial crisis and governments around the world are still reeling in the lesser Depression.  Tax collections are down while public expenditures have skyrocketed in a vain effort to stabilize the economy.  Much of this mass orgy in spending has been financed by central banks printing money and the suppression of interest rates down to artificially low levels.  This is the Keynesian remedy to recession.  Spend what you don’t have via the printing press.  Have central bankers create paradise on Earth through counterfeiting.
So far it hasn’t worked.

David Rosenberg: "Despair Begets Hope"

A rare moment of optimism from David Rosenberg: "I've said it once and I'll say it again. And believe me, this is no intent to wrap myself up in stars and stripes. But there is a strong possibility that I see a flicker of light come November. The U.S. has great demographics with over 80 million millennials that will power the next bull market in housing, likely three years from now. After an unprecedented two straight years of a decline in the stock of vehicles on the road, we do have pent-up demand for autos. I coined the term "manufacturing renaissance" back when I toiled for Mother Merrill and this is happening on the back of sharply improved cost competitiveness. Oil production and mining services are booming. Cheap natural gas is a boon to many industries. A boom in Chinese travel to the U.S. has triggered a secular growth phase in the tourism and leisure industry. The trend towards frugality has opened up doors for do-it-yourselfers, private labels and discounting stores.... Few folks saw it at the time. But it's worth remembering, especially now as we face this latest round of economic weakness and market turbulence. It is exactly in periods of distress that the best buying opportunities are borne...and believe it or not, when new disruptive technologies are formed to power the next sustainable bull market and economic expansion. Something tells me that we are just one recession and one last leg down in the market away from crossing over the other side of the mountain. And believe me, nobody is in a bigger hurry to get there, than yours truly. At the risk of perhaps getting too far ahead of myself, but you may end up calling me a perma-bull (at that stage, I must warn you, folks like Jim Paulsen will have thrown in the towel)."

The Mortgage Crisis Hits France Front And Center: Are French Bank Nationalizations Imminent?

Name the plunging bond shown on the left. If you said some sovereign or corporate issue based out of Spain, Italy, Ireland, Portugal, or even Greece you would be close... but no cigar. No - the bond in question is an issue of Caisse Centrale du Credit Immobilier de France (3CIF), which together with its sister entity CIF Euromortgage (CIFE), is  a 100% subsidiary of Credit Immobilier de France Development (CIFD), which as Fitch describes it, is a French "housing loans specialist, with business exclusively directed to France." CIFD is in turn owned by Procivis Group, which just happens to be France's second largest full-service real estate group.

MERS & WALL STREET BANKSTER FRAUD: You Probably Don’t Even Own the House You Are Paying For

Greetings friends. In 2012, when we think Wall Street we think of MF Global theft, JPM criminality, Goldman naked shorting, DTTC failures to deliver, precious metals manipulation, fractional reserve banking, Comex games, HFT trading and endless derivatives. But don’t forget about MERS and mortgage fraud – because according to Vermont Trotter, the National Director of ‘Protect Americas Dream’ it’s all tied together in one giant Ponzi scheme. The worst part is, the bank you pay for your mortgage probably does not even hold the title to your home. It’s a mess – and we are ALL victims.

SELL YOUR SILVER AND INVEST IN GERMAN MARKS

[Ed. Note: Happy Sunday from SGTreport and the King of satire Billy Joe, who I happen to know owns a ton of physical silver.]
from HouseOfTheMoon:

[Ed. Note: Too many folks don't appreciate (or understand) good satire. Today Billy Joe shows off some cool high-denomination German Mark notes...and at the same time gives you an idea where the Euro and and Dollar are headed.]

Bilderberg Agenda Attracts National Exposure

[Ed. Note: Hey look, there's the Bernank in the back of his limo on the way to last year's Bliderberg meeting to get orders from his NWO puppet masters. Yey freedom!]
Romney policy advisors defensive over secretive group’s power
by Paul Joseph Watson, Infowars:
The secretive Bilderberg Group’s agenda for its 2012 meeting has attracted national attention with an article by veteran Politico journalist Ken Vogel exploring charges that the organization is set to play a decisive role in the upcoming U.S. presidential election.
The article, entitled Marco Rubio as vice president: the Bilderberg conspiracy, focuses around our piece from back in April which flagged the fact that the Washington Post, itself a creature of Bilderberg, had not so subtly implied that Bilderberg may have a hand in picking Mitt Romney’s running mate just as they picked VP candidates in 2004 and 2008.

“Like any good conspiracy theory, there’s just enough there to stoke questions,” writes Vogel. “John Edwards’s speech to the Bilderberg Group’s 2004 meeting in Stresa, Italy, reportedly helped clinch his selection as that year’s Democratic vice presidential candidate. And Jim Johnson, the man who chaired that vice presidential selection process and initially was tasked with spearheading Barack Obama’s 2008 search for a running mate, is a leading Bilderberg member, while prominent Romney advisers including Robert Kagan and Vin Weber have attended past meetings, as have Bill Clinton, Donald Rumsfeld and top finance, media and tech executives.”

Read More @ Infowars.com

The Physical Gold Market – From the Weak to the Strong

by Greg Canavan, DailyReckoning.com.au:
We left off yesterday wondering why the market had turned on gold recently – the supposed “safe haven” metal. But we woke up this morning and saw things had turned again…gold surged 2% overnight as the US markets sank around 1.5%.
No doubt this type of price action will confound many investors…especially those who sold in a panic in the last few weeks. The recent sell-off amongst the gold stocks is up there with 2008 for severity.
In a clear example of how the emotional decisions of investors send price diverging from value, gold stocks have plummeted while the Aussie dollar gold price, which, along with production, determines revenue, is only slightly lower.
Read More @ DailyReckoning.com.au

Marco Rubio as vice president: The Bilderberg conspiracy

by Kenneth P. Vogel, Politico:
Mitt Romney isn’t very far into the vice presidential selection process. But according to a dedicated band of conspiracy theorists, the pick is all but a lock: Sen. Marco Rubio.
That’s the current thinking among a worldwide collection of activists who are obsessed with the secretive Bilderberg Group, an alternating roster of global power players who loom as large — if not larger — in the online fever swamps of the fringe as the Trilateral Commission or the Council on Foreign Relations. (Also on POLITICO: Meet the Rubios)
The Bilderberg Group, which takes its name from the Dutch hotel where it first gathered in 1954, exists solely to bring together between 100 and 150 titans of politics, finance, military, industry, academia and media mostly from North America and Western Europe once a year to discuss world affairs.
Yet in the netherworld of conspiracy theory, the group is part of an insidious corporate-globalist scheme. And this year, the speculation holds, the Bilderberg Group is set to hold its annual meeting in the coming weeks at a Northern Virginia hotel where, among other things, they likely will select Rubio as Romney’s running mate.
Read More @ Politico

Ellis Martin Report with DAVID MORGAN: SILVER “Bottoms Up?”

from silverguru:

Rock & A Hard Place? Grexit looms while G8 pushes for stay

from RussiaToday:

Debt-stricken Greece should stay in the Eurozone – that’s the united message from leaders of the world’s most powerful economies, after a day of crisis talks in the US. Athens dominated the G8 gathering, amid fears it may be headed for a chaotic and unprecedented exit from the single currency block. However, some believe that talks behind closed doors suggested a different agenda for the troubled nation.

Life in Occupied Chicago

by Stephen Lendman, SJLendman.Blogspot.com:
Through Monday, downtown residents live in occupied Chicago.
Secret Service agents, NORTHCOM and National Guard forces, as well as thousands of state and local police seem everywhere.
Getting around feels hazardous. Anyone may be stopped, searched, interrogated, even arrested.
Residents were advised to hunker down and stay out of harm’s way as best as possible. For many, it’s not easy. More on a city under siege below.
NATO is the world’s first global war-making alliance. Largely a US imperial tool, it’s a killing machine. Its 28 members and dozens of partner states comprise about one-third of the world’s nations.
Article 4 of its charter calls for members to “consult together whenever, in the opinion of any of them, the territorial integrity, political independence, or security of any” is threatened.
Read More @ SJLendman.Blogspot.com

Trust in America – Not

by Bruce Krasting Bruce Krasting Blog:
I wish I could have been a fly on the wall at the G8 summit at Camp David this weekend. The final communiqué from the global big shots talks about keeping Greece in the Euro and a shift away from austerity and a move towards growth oriented policies. Forget the Happy Talk, I want to know what they were really saying.
Obama must be praying for a miracle with the other members of the G8. If we get a “Grexit”, there will be months of turmoil in the global capital markets before the dust settles. The last thing the Big O wants to have is a recession in Europe that infects the USA with lower growth and higher unemployment when Americans are going to the polls in six months. For the same reason, Obama needs Japan to keep QEing and spending money it does not have.
Obama may be a slave to what happens outside of our borders during the period prior to the election, but those same foreign leaders are completely at the mercy of the USA and the next President after the election. It won’t matter what the UK, Germany, France or Japan does with stimulus in their countries; what’s on the table in the USA will overwhelm any of those efforts.
Read More @ BruceKrasting.blogspot.com

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