RNC Lawyer Suggests Blocking Ron Paul Supporters In Nevada State

 

 

Is An Economic Deluge Nigh?

If history has taught one certain lesson, it is that the less fettered an economy, the better humankind is able to do what it does best: run from trouble and run toward opportunity. In this way mistakes are quickly resolved and progress assured. Conversely, the deeper the muck of regulation, mandates, taxes, subsidies and other bureaucratic meddling, the slower we humans are in following our natural instincts until the point that progress is slowed or even stopped. It is said that history doesn't repeat itself, but it often rhymes. In the current circumstances, it appears that enough time has passed that current generations have completely forgotten the critical connection between the ability of humans to freely pursue their aspirations and economic progress. You can see this ignorance in the popular demand for even more, not less, meddling in the affairs of humankind. Should this trend continue – and for reasons I will touch on momentarily, I firmly believe it will – then the aspirations of the productive minority will soon be dampened by ever higher taxes and other attempts to "level the playing field" and the global economy, already in tatters, will fall off the edge. There is no more timely nor acute example of this growing trend than what is currently going on in France. I refer, of course, to the first round of the presidential election process, scheduled for this weekend.




Jim Sinclair’s Commentary

John Williams’ latest report guarantees QE to infinity. They will even deny what they are doing when they announce they are doing it.

- For Second Month, Household-Survey Employment Fell as Payroll Growth Faltered
 
- April Unemployment: 8.1% (U.3), 14.5% (U.6), 22.3% (SGS)
 
- Annual M3 Growth Weakened in April as Velocity Rose
 
- New Indicator Shows Intensifying Systemic Stress
 
- Impaired Construction Spending Continued

www.ShadowStats.com

"The Paucity Of Growth" - Previewing The New Political Landscape In Europe

Europe is about to begin its "Audacity of Hope" moment.  I'm not sure how markets will react on Monday to the various results.  My best guess is that after an initial sell-off we see a rebound.  European politicians will start to say the "right" things about working with the new governments.  "Growth" will be the most commonly used word.  Equities “LOVE” growth. If there is one thing equity markets love, it is the talk of growth, stimulus, of more money being spent. .. Why is everyone so willing to believe Europe can achieve growth?  Let's assume that no one ever tried for growth before (though seriously, most policies implement in past 15 years had growth as at least part of the rationale).  What experience does Hollande have in creating growth?  If growth opportunities are so easy to spot and identity why do we pay 2 and 20 to hedge funds and private equity?... That is the harsh reality.  Identifying opportunities just isn't that easy.  Figuring out what projects will generate returns that pay for themselves is difficult.  A political body with many competing agendas is hardly likely to do better than companies whose whole goal is to find growth opportunities.  Corporations have no shortage of cash right now, they have a shortage of growth ideas. .. "Growth" which is really just code for spending, will be a failure.  The credit markets will see it sooner than equities, but equities will eventually see it too.  Saying you are going to become an actress is really easy.  Moving to L.A. in an effort to become an actress is a bit more difficult but still relatively easy.  Becoming an actress is really hard!  Growth won't buy years.  It might not even buy months. Like so much else through the entire crisis, the markets are willing to suspend their disbelief on the back of attractive headlines.  In the end, the actual plans disappoint.  Not because the politicians aren't good at making plans, but because the original announcements never had a chance of being implement and the suspension of disbelief (or critical thinking) was the market's real mistake.

Whatever You Do, Do It With Passion

Admin at Marc Faber Blog - 2 minutes ago

Whatever you do, you should do with a lot of passion and heart and like what you do. If you like what you do, you will do a better job than if you are indifferent to what you do at your job. *Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.* more »

 

 

Video Interview: Europe, Fundamentals, Elections & Emerging Markets

Admin at Jim Rogers Blog - 13 minutes ago

Latest video interview with ETF Now. *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.* more »

 

 

I Can't Believe Charlie Munger (Buffet) Said This On TV

Dave in Denver at The Golden Truth - 1 hour ago

* * * "gold is a great thing to sew onto your garments if you're a Jewish family in Vienna in 1939 but civilized people don't buy gold" *- Charlie Munger on CNBC LINK He made that remark in response to comments that hedge fund manager David Einhorn - who is obviously Jewish - made with regard to why he keeps a high percentage of gold in his fund *If we didn’t have a Jelly Donut monetary policy, I would sell gold, sell bonds and buy stocks. But, the Fed is filled with academics who thoughtlessly rely on econometric models tha... more »

 

 

Trader Dan on King World News 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 on the KWN Weekly Metals Wrap. *http://tinyurl.com/889qks3* more »

 

 

Over Time The Rupee Will Weaken Further

Admin at Marc Faber Blog - 5 hours ago

I think that over time the rupee will weaken further. That would be my view now. Whether the weakness comes right away or with some delay, but I think there is a real chance that the rupee will be weak and possibly weaker than investors anticipate. - *in ET * *Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.* more »

 

 

Jobs report: Latest NFP misses expectations with a gain of only 115,000 jobs/Poor PMI numbers from Europe/Elections in Greece and France on Sunday

Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 11 hours ago

Good morning Ladies and Gentlemen: Gold closed up today to the tune of $10.50 to $1644.70 Silver followed suit rising by 42 cents to $30.38. Europe started the day off with terrible service PMI numbers which basically confirmed that all of Europe is in recession. Most of Europe had bourses down close to 2%.  The Dow followed suit falling 168 points. We are now marking time ready to receive the

Nine Takeaways From Earnings Season

With earnings season now virtually over, it is time to ask why, despite a majority of the companies beating expectations, is the S&P inline with where it was when earnings season started. There are two main reasons why the market has not been impressed: the percentage of "beaters" is nothing spectacular on a historical basis as was shown previously, especially in the aftermath of aggressive cuts to Q1 top and bottom line forecasts heading into earnings reports; more importantly, even with Q1 earning coming out as they did, the bulk of the legwork still remains in the "hockeystick" boost to the bottom line that is completely Q4 2012 loaded, as bottom up consensus revisions to the rest of 2012 are negative despite Q1 beats. As Goldman summarizes: "1Q 2012 will establish a new earnings peak of $98 on a trailing-four-quarter basis. With 88% of S&P 500 market cap reported, 1Q EPS is tracking at $24.10, 1% above consensus estimates at the start of reporting season and reflecting 7% year/year growth." So far, so good. And yet, "Despite the positive surprises, full-year 2012 EPS estimates are unchanged relative to the start of earnings season, and currently stand at $105 vs. our top-down forecast of $100. Over half of consensus 2012 earnings growth is attributed to 4Q. Margins at 8.8% have hovered near peak levels for a year, but consensus expects a sudden jump in 4Q to a new peak of 9.1%. We forecast a further decline to 8.7%."

Paul vs Paul: Round 2

Bloomberg viewers estimate that Ron Paul was the winner of the clash of the Pauls. But that is very much beside the point. This wasn’t really a debate. Other than the fascinating moment where Krugman denied defending the economic policies of Diocletian, very little new was said, and the two combatants mainly talked past each other.  The real debate happened early last decade.

Charlie Munger: Gold Is For Holocaust-Era Jewish Families To Sew Into Their Garments; Civilized People Don't Buy Gold

While Becky Quick's CNBC interview with the Charlie Munger has a little for everyone to love and hate (from Keynesian-doctrine to easy-living-Greeks and Bad-trading-robots), Buffett's right-hand was particularly eloquent in his views (at around 9:08) on Einhorn's distrust of the Fed and buying Gold: "gold is a great thing to sew onto your garments if you're a Jewish family in Vienna in 1939 but civilized people don't buy gold - they invest in productive businesses." End quote.

Dr. Lacy Hunt On Debt Disequilibrium, Deleveraging, And Depression

If you want to know how weak the economy really is all you need to do is look at the 30-year bond. It is one of the best economic indicators available today. If economic conditions are robust then the yield will be rising and vice versa. What the current low levels of yield on 30 year bonds is telling you is that the underlying economy is weak. "The 30-year yield is not at these low levels DUE to the Federal Reserve; but in SPITE OF the Fed," Hunt said. The actions of the Federal Reserve have continued to undermine the economy which is reflected by the low yield of the 30 year bond. The "cancerous" side effects of nonproductive debt are being reflected in real disposable incomes. Just over the last two years real disposable incomes slid from 5% in 2010 and -0.5% in 2012 on a 3-month percentage change at an annual rate basis. This is critically important to understand. While the media remains focused on GDP it is the wrong measure by which to measure the economy. A truly growing economy leads to rises in prosperity. GDP does NOT measure prosperity — it measures spending. It is the measure of real personal incomes that measures prosperity. Prosperity MUST come from rising incomes.

Friday Humor: "So You Wanna Be A Trader"

For all those readers who have ever considered becoming a full-time trader, we present the decision-tree for that life-changing choice.
 

Brutal Day For Stocks As Reality Recouples; Europe Now Negative For 2012

Months of hope that the economy could finally start a 'virtuous cycle' were once dashed in a puff of smoke, after the jobs report came and cemented that the economy is now rolling over and picking up speed to the downside. Only this time, in a very ominous development for the permabulls, the MORE QE IS COMING, BUY ON DIPS crowd was nowhere to be seen. Why? Because for QE to be unleashed everything has to tumble first. And in a harbinger of what is coming to the US, just look at Europe: the EuroSTOXX 50 just turned negative for the year.

“Ability for Unit 4 to withstand another seismic event is rated at zero” -Nuclear Watchdog

If Fukushima Unit 4 Falls, Hazardous Radioactive Cesium-137 Release Could be Eight Times Worse Than Chernobyl
from ENEwspf.com:
Beyond Nuclear today joined with concerned Japanese citizen groups and US Senator, Ron Wyden (D-OR), urging that swift international action be taken to prevent a catastrophic high-level radioactive waste fire at the precarious Unit 4 reactor building at the Fukushima Daiichi nuclear power plant in Japan.
Unit 4 is leaning and could topple if hit with another earthquake or tsunami, resulting in a deadly high-level radioactive waste fire. The ability for the unit to withstand another seismic event is rated at zero.
Today, a coalition of concerned Japanese citizens is urging United Nations Secretary General Ban-Ki Moon and Japanese Prime Minister Yoshihiko Noda, to properly inform the Japanese people of the perilous situation at Fukushima Daiichi, and to work together to prevent what would be an irreversible disaster that would release huge amounts of lethal radiation, dwarfing the scale of the original disaster.
Read More @ ENEwspf.com

The President’s Private War

by Andrew P. Napolitano, Lew Rockwell.com:
Did you know that the United States government is using drones to kill innocent people in Pakistan? Did you know that the Pakistani government has asked President Obama to stop it and he won’t? Did you know that Pakistan is a sovereign country that has nuclear weapons and is an American ally?
Last week, the Obama administration not only acknowledged the use of the drones; it also revealed that it has plans to increase the frequency and ferocity of the attacks. White House counter-terrorism adviser John O. Brennan argued that these attacks are “in full accordance with the law” and are not likely to be stopped anytime soon.
Read More @ LewRockwell.com

David Morgan – The Silver Suppression Scheme is Ending

from FinancialSurvivalNetwork.com:
David Morgan is one of the world’s leading authorities on silver, from how it’s mined, to how the price is manipulated on the relatively minuscule Comex Silver Futures. David has had an affinity for the shiny metal since he was a toddler; he’s also old enough to have lived through the prior boom and bust that took place in the 70′s and 80′s. Armed with this historic perspective, he sees exactly what is taking place now, and while appalled by the blatant price suppression, he’s not surprised at all.
David is joining us today for the latest update, and why the only thing you need to fear, is fear itself. Fear inevitably leads to making the wrong decision at the wrong time, and then you miss the next move, and invariably you’ll buy at the higher prices.
Click here to listen to Kerry Lutz and David Morgan
Read More @ FinancialSurvivalNetwork.com

Gerald Celente – Annie Gaffne

Weekly News Wrap-Up

by Greg Hunter, USAWatchdog:
Is Israel preparing for war?  It was reported, this week, that six reserve battalions were called up because of increasing tensions on both the Syrian and Egyptian borders.  The Israeli government gave the okay for an additional 16 more reserve battalions if needed.  A battalion can be as many as 1,200 soldiers.  In Syria, the White House says it’s time to try another tactic because the cease-fire is constantly being violated by the Assad government.  It did not say it was going to resort to military action.

Read More @ USAWatchdog.com

Summit Could Mean Airport-Style Security On Metra Electric, South Shore Trains

by Jay Levine, CBS Chicago
CHICAGO (CBS) – Some stations on the Metra Electric Line and South Shore Line could be shut down during the upcoming NATO summit, and passengers at other stations could face airport-style security screenings, due to the Secret Service security plan that could be released as soon as Friday afternoon.
CBS 2 Chief Correspondent Jay Levine has exclusive details on those security measures, which the Secret Service is expected to officially unveil on Friday, or at the very latest, on Monday. Federal officials have promised the announcement will include a “comprehensive list of street closures and parking restrictions surrounding the NATO summit.”
The Secret Service has been battling with Metra and the Northern Indiana Commuter Transportation District over the security measures that will be needed on the Electric and South Shore lines, which both run directly under McCormick Place.
Read More & See Video @ Chicago.CBSlocal.com

Ukip enjoys record local election results

by Lizzy Davies, The Guardian:
Nigel Farage’s UK Independence party averages 13% of vote in seats it contested, piling pressure on Conservatives
The UK Independence party, which has historically put in a lacklustre performance in local elections, has been averaging 13% of the vote in the seats it contested – five points higher than a year ago – making 2012 a record year for Nigel Farage’s Eurosceptics.
Although it has so far failed to convert that share of the vote into a significant gain in seats, Ukip appears to have done more than enough to ruffle Tory feathers and put pressure on an already creaking coalition.
Gary Streeter, Conservative MP for Devon South West, lost no time in seizing on the defections as evidence of why David Cameron needs to reassert his party’s traditional values. “We need to work out a strategy, certainly in the West Country, for dealing with the issue of traditional voters shuffling off and voting Ukip because they don’t think our leadership is Conservative enough,” he told the BBC.
Read More @ Guardian.co.uk

Central Bank Demand to Change Gold, Silver Markets and Prices

by Lance Roberts, Financial Sense:
There is a tide in the affairs of gold that is changing the entire shape of the gold market. We are not just talking about the demand side but the supply side as well. Neither the gold market nor the gold price has factored in these changes yet. And the changes are designed to affect the gold market both unobtrusively and over time. The developed world markets are myopically riveted to short-term factors in the developed world’s economies, distracted from reacting to forces considerably greater than those. The changes are significantly deeper than we saw in the 1970’s. By extension, the forces involved will change the future of the silver price as well. These forces will prove so decisive because they are not price-dependent or price-sensitive.
Read More @ Financial Sense.com

One Simple Rule To Stop Unnecessary Wars

from Azizonomics:

I’m sick of war.
Officially the cost of the war on terror has been $1.3 trillion. And military spending — especially the interest on debt to pay for past wars — keeps growing year on year:
As General Eisenhower noted:
“Every gun that is made, every warship launched, every rocket fired, signifies in the final sense a theft from those who hunger and are not fed, those who are cold and are not clothed. This world in arms is not spending money alone. It is spending the sweat of its labourers, the genius of its scientists, the hopes of its children. The cost of one modern heavy bomber is this: a modern brick school in more than 30 cities. It is two electric power plants, each serving a town of 60,000 population. We pay for a single fighter with a half-million bushels of wheat. We pay for a single destroyer with new homes that could have housed more than 8,000 people. This is not a way of life at all, in any true sense. Under the cloud of threatening war, it is humanity hanging from a cross of iron.”
Read More @ Azizonomics.com

Gold Daily and Silver Weekly Charts – Miss in Non-Farm Payrolls – Viva México

from Jesse’s Café Américain:
Miserable day for stocks and one of the worst weeks of the year for the major equity indices.
Gold and silver held up fairly well in today’s equity sell off.
Happy Cinco de Mayo.
It appears that Charlie Munger believes that the people of India and the Mideast are not civilized.  And God only knows what he might say about the Chinese, including their central bank.  Don’t they know they are supposed to hold US dollars, and invest them in treasuries and on Wall Street for safekeeping?.  Charlie Munger on gold.
I wonder what kind of low lifes he thinks might be buying silver?
This is the type of narrow ignorance of the world as it is, and lack of empathy for other people who might not be as fortunate, powerfully connected and secure, and lawyered-up with options, has always confounded me when dealing with the pampered princes of the Anglo-American cartel.
See you Sunday evening.
Read More @ JessesCrossRoadsCafe.Blogspot.com

FISA Approves EVERY Secret Surveillance Warrant in 2011: Report

from, Activist Post
An annual government report showed that every warrant submitted by the Feds to spy on Americans was approved by the secret FISA court in 2011.  The 1,745 total number of applications and warrants approved was a 10.5% increase over 2010.
An anonymous counterterrorism official said the increase was “in response to materials seized in relation to the raid on Osama Bin Laden’s compound in Pakistan and the resulting investigations.”
Although the Foreign Intelligence Surveillance Court (FISA) is secretive and does not reveal the type of surveillance that was approved, it may be the most transparent surveillance program the Feds admit to.  At least the warrants are issued and can be counted.
Read More @ Activist Post

Paper Money Addicts, Major Up Trends, Gold, Silver, Oil, Uranium and More

from KingWorldNews:
James Dines: Founder of The Dines Letter & Acclaimed Author – James Dines is editor of The Dines Letter investing newsletter (published since 1960), legendary for his bull market predictions including the internet, gold, silver, uranium and more. Dines discussed with KWN many of his shocking predictions of the coming ‘Age Of The End Of Jobs,’ due to robotics, the coming ‘New Social Order,’ the coming ‘Second Great Depression,’ and whether gold and silver remain in ‘Super Major Uptrends’. Peter Brimelow from MarketWatch (3/24/11): “He’s the Hulbert Financial Digest’s top performer over the past 12 months through Jan., up 93.9% through Feb. vs. 24.18% for the dividend-reinvested Wilshire 5000 TSMI.
Listen Now @ KingWorldNews.com

Eurozone breakup: how would this affect precious metals?

from Gold Money:
As funding pressures and economic distress increase in Spain, talk of a potential breakup of the eurozone has returned. There has been debate as to whether this would be a deflationary or inflationary event, and how it would affect the precious metals markets.
In the event of a breakup, investors need to be prepared for a period of extreme volatility, characterised by chaotic trading conditions in all markets. Similar to 2008 a financial shock such as the failure of the eurozone would likely be met by trading that is more characteristic of panic/liquidation decision-making than fundamentally sound trading. Remember that after the collapse of Lehman Brothers gold traded almost as low as $700 after previously being above $1,000 all while an historic expansion of the Federal Reserve’s balance sheet was getting underway. So it will be important to distinguish between short term trading noise and longer-term fundamentals.
Read More @ GoldMoney.com

China Buys Gold…No Matter Who’s Selling

by Eric Fry, DailyReckoning.com:
Someone is selling in size…Someone is buying in size. That’s what makes markets, as the saying goes. But that’s also what makes market manipulations, according to the bloggers at Zero Hedge.
The seller in this case is very large and very sloppy, perhaps intentionally so. The buyer is also very large, but very patient and methodical. Trapped between these two powerful opposing market participants we find a “range-bound” gold market. Let’s take a closer peek at the curious goings-on…
Last Monday, a large early-morning sell order in the gold market whacked the price of the precious metal by about $15 in a matter of seconds.
Read More @ DailyReckoning.com

BTFD...

The Silver Bull Market Is Over?

by, Michael Kilbach Silver Seek:
Is the Silver Bull Market Over? This is one question that we feel very confident that the answer to it is no; but still we are specifically watching for articles or news stories suggesting that the precious metals bull market is over. We have seen a few articles announcing the end of the metals bull market and we will explain why this is significant to us later in this article. But first, there are a host of reasons why we think the bull market in precious metals is alive and well and we will address a few of these reasons in this article.
Basic price performance of the precious metals market simply does not match that of other bull markets. Yes silver did rise from about $4.00 to about $50.00 but that is not nearly as impressive as it first sounds.
Read More @ Silver Seek

Defending the Olympics from terror attack: Fighter planes at Northolt for first time since WWII as elite RAF say they will shoot down passenger jets to protect London

Daily Mail:
“Ready and waiting: The Typhoon jets line up on the tarmac at RAF Northolt, west London, ahead of a nine-day military exercise to test security for the Olympic Games”

Elite fighter pilots say they are ‘trained and prepared’ to shoot down a hijacked passenger plane to prevent a 9/11-style suicide attack on the Olympics. Four Typhoon jets will be on standby to intercept ‘rogue’ aircraft intent on causing carnage at London 2012.
Normally the RAF’s Quick Reaction Alert jets are based at RAF Coningsby in Lincolnshire and RAF Leuchars in Fife to defend UK airspace. But the 1,370mph planes will also be stationed at RAF Northolt, in west London, during the Olympics. It is the first time fighters have been based at the airfield since the Second World War.
Read More @ DailyMail.co.uk

Sudden Death

by Andy Hoffman, Miles Franklin:
Amidst another vicious Cartel attack, it’s tempting to write about something somber.
I have been told I am a tad fatalistic, at times turning readers off. However, I have never taken “literary license,” as a student, sell-side analyst, or blogger. What makes my work popular is my frank language and no-nonsense approach, which I cannot sacrifice if I am to remain true to myself. Believe me, I’ll be the first to report “good news” when I see it. However, as pertains to economic matters, I have seen NOTHING positive for a decade, and sadly, do not anticipate the “return” of good news in this generation. I believe the ENTIRE GLOBAL FINANCIAL SYSTEM will COLLAPSE – starting with Europe – and when it does, only those that PROTECTED themselves with PHYSICAL GOLD and SILVER, FOOD, ENERGY, and other ITEMS OF REAL VALUE will survive – and not just financially.
Read More @ Miles Franklin.com

Osama, Obama, and Us: A Shocking Display of Propaganda from NBC

by Russ Baker, Who What Why:
When I got an email announcing an exclusive from NBC about the raid that, we’re told, resulted in the death of Osama bin Laden, I dared raise my hopes. The last time a major media organization, the New Yorker, had promised us the inside story about what really happened on that day in early May, 2011, we got a major bit of disinformation.
I heard the dramatic music, and listened to correspondent Brian Williams’s dramatic intro. Then I began waiting for answers. I waited. And waited. The answers never came. Can you believe an entire hour (or about half an hour plus endless ads) and not one interesting revelation? Can you believe that almost the entire thing dealt with how people in the White House felt that day, what kind of chairs they sat in, etc, and almost nothing on the details of the raid or the disposition of the body? Even the details that sounded vaguely interesting, like the fact that the chopper that crashed was some kind of new, secret craft, were already known long ago.
I got a feeling that the whole thing had been carefully rehearsed, and then I thought: Why would the White House give NBC an exclusive, “first-time” look inside the White House Situation Room?
Read More @ WhoWhatWhy.com

Is an Ounce of Gold Worth $10,000?

By Adam J. Crawford Casey Research:

Gold at $1,650 an ounce seems pricey to most investors simply because it costs five times more than it did a decade ago. However, $1,650 an ounce is actually a bargain if one were to price gold using the same formula that the US government used for many years. In the past, the federal government agreed to exchange gold for dollars at a fixed price of $35 per ounce. Gold’s fixed price wasn’t pulled out of thin air: it was established under the Bretton Woods system by dividing US gold reserves by the monetary base.
Currently, the US government reportedly holds roughly 260 million ounces of gold. Thanks to Benny and his inkjets, the monetary base is currently flirting with the nosebleed level of $2.7 trillion. Using the government’s gold price formula of yesteryear, gold’s “shadow price” is roughly $10,000 an ounce ($2.7T/260 million).
Read More @ CaseyResearch.com

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