Sarkophagus: Hollande Wins French Presidency
And so one more tumbles to the popular wave of anger and discontent.
Francois Hollande wins 51.9% of the vote according to exit polls:
First Official Greek Exit Polls: Pro-Bailout Parties Plunge; Anti-Bailout Radical Left, Neo-Nazis Soar
As we expected, the previous unofficial poll forecasts were total rubbish, and according to exit polls from NET TV, the results are as follows:
- New Democracy: 17-20%
- Pasok: 14-17%
- In a stunner, Syrizia, or the coalition of the radical left - a vehement anti-Bailout party - gets more votes than the ruling PASOK party: 15.5%-18.5%
- Independent Greeks: 10-12%
- Finally, and not surprisingly in the aftermath of the French results, the ultra right Golden Dawn gets 6-8% of the vote and will make it into Parliament
Tallied across, up to 60% of the new parliament will be anti-bailout
(at least according to exit polls), and hence "Domino toppling." Good
luck with that pro-bailout coalition government. Needless to say these
results are very ugly and make any prospect of a pro-bailout coalition
cabinet virtually impossible. Suddenly the fate of the European
experiment is in the hands of the ultra right and the far left - yup,
Neo-Nazis will determine the future of Europe. How quaint... again -
congratulations Europe.
FOX News Admits Ron Paul Has Won 5 States
By Ronald D. Orol, MarketWatch:
A
House panel led by longtime Federal Reserve critic Rep. Ron Paul will
take direct aim at the central bank next week when it considers a bill
to abolish the powerful institution.
The legislation will be among a handful of bills that will be
looked at on Tuesday by the congressional committee that could all spell
significant change to — if not outright elimination of — the Federal
Reserve.
“More and more people are beginning to understand just how
destructive the Federal Reserve’s monetary policy has been,” said Paul, a
Texas Republican and chairman of the House Financial Services
subcommittee on Domestic Monetary Policy and Technology, which has
oversight authority over the Fed.
Paul, a Republican presidential hopeful this year, has
consistently made abolishment or reform of the Fed a central plank in
his sinking election platform, and introduced the bill to abolish the
central bank that the panel will be discussing.
Read More @ MarketWatch
A
House panel led by longtime Federal Reserve critic Rep. Ron Paul will
take direct aim at the central bank next week when it considers a bill
to abolish the powerful institution. Read More @ MarketWatch
The Obama Administration: Socialists, Narcissists, And Psychopaths
by Kris Zane, The Western Center for Journalism:
Like all evil in the world, it begins with a lie. A lie that a group of elites can set up a socialist utopia without guns. A lie that one group is smarter, wiser, morally superior to all others—narcissists, in other words. A lie that a group of elites create their own morality—psychopaths, we call them.
The lie that began this road of destruction and death was simply that the Mexican drug cartels get most of their weapons from American gun dealers. Ninety percent, to quote our Commander-in-Chief. Of course, this number was a fantasy. But fantasies can become realities with some creativity. Simply encourage American gun dealers to sell to drug cartel front men with the lie that the weapons would be tracked and intercepted. Then let them walk into Mexico. What’s a couple dead Americans and a few hundred Mexicans dead in order to achieve a socialist utopia without guns? For narcissists, socialists, and psychopaths—nothing.
Read More @ WesternJournalism.com
from CWF, Capitalism Without Failure:
The selected notes below are from William K. Black’s presentation at the Modern Monetary Theory Summit in Rimini, Italy, in Febuary of this year. The audio is embedded in this post following the text.
On
the “technocrats” running the show in Europe: There are no
‘technocrats,’ especially ‘genius’ technocrats. I suggest a new rule of
thumb for judging a ‘genius technocrat.’ They have to be right at
least two out of ten times. There is not a single economist in Europe,
who calls himself a technocrat, that could do the equivalent of making
two penalty kicks out of ten.
What we learned from the Savings & Loan crisis: George Santayana famously said that, “those who cannot remember the past are condemned to repeat it.” But, even if we remember the mistakes we have made, the new policy we pick could be another mistake. Here is what we learned about the incidence of fraud leading up to the savings and loan crisis, according to the national commission that investigated the causes of that crisis:
“‘The typical large failure [grew] at an extremely rapid rate, achieving high concentrations of assets in risky ventures… [E]very accounting trick available was used… Evidence of fraud was invariably present, as was the ability of the operators to ‘milk’ the organisation.’
Read More @ CapitalismWithoutFailure.com
Like all evil in the world, it begins with a lie. A lie that a group of elites can set up a socialist utopia without guns. A lie that one group is smarter, wiser, morally superior to all others—narcissists, in other words. A lie that a group of elites create their own morality—psychopaths, we call them.
The lie that began this road of destruction and death was simply that the Mexican drug cartels get most of their weapons from American gun dealers. Ninety percent, to quote our Commander-in-Chief. Of course, this number was a fantasy. But fantasies can become realities with some creativity. Simply encourage American gun dealers to sell to drug cartel front men with the lie that the weapons would be tracked and intercepted. Then let them walk into Mexico. What’s a couple dead Americans and a few hundred Mexicans dead in order to achieve a socialist utopia without guns? For narcissists, socialists, and psychopaths—nothing.
Read More @ WesternJournalism.com
The selected notes below are from William K. Black’s presentation at the Modern Monetary Theory Summit in Rimini, Italy, in Febuary of this year. The audio is embedded in this post following the text.
On
the “technocrats” running the show in Europe: There are no
‘technocrats,’ especially ‘genius’ technocrats. I suggest a new rule of
thumb for judging a ‘genius technocrat.’ They have to be right at
least two out of ten times. There is not a single economist in Europe,
who calls himself a technocrat, that could do the equivalent of making
two penalty kicks out of ten.What we learned from the Savings & Loan crisis: George Santayana famously said that, “those who cannot remember the past are condemned to repeat it.” But, even if we remember the mistakes we have made, the new policy we pick could be another mistake. Here is what we learned about the incidence of fraud leading up to the savings and loan crisis, according to the national commission that investigated the causes of that crisis:
“‘The typical large failure [grew] at an extremely rapid rate, achieving high concentrations of assets in risky ventures… [E]very accounting trick available was used… Evidence of fraud was invariably present, as was the ability of the operators to ‘milk’ the organisation.’
Read More @ CapitalismWithoutFailure.com
Lies, Damned Lies And Statistics
According to Reuters, Italy is going to propose to the European Union that they should exempt borrowing used to pay their commercial obligations from their calculation of public debt. Monti, the article states, is also going to propose exempting the counting of public debt used for investments. You may be sure that Italy’s $211 billion of derivatives will now be entitled an “investment.” Now all of this will lower Italy’s debt to GDP ratio which is the real reason for these proposals and so even worse falsified numbers can be handed out to the Press in hopes that money will be invested in Italy based upon not just inaccurate but offically countenanced manufactured data. This way not only the debt to GDP ratio can be falsified but the growth numbers, the fiscal targets and a raft of other numbers that will no longer be real but just a systemic figment of Europe’s imagination.Unofficial Greek Exit Polls
And
from one presidential election, we go to the other even more crucial
parliamentary election, in Greece, where courtesy of Planet-Greece we
have the first unofficial exit polls. Since these numbers differ
massively with what opinion polls predicted as
recently as 2 weeks ago, and indicate the status quo is likely to
persist, we urge everyone to take these with a huge grain of salt.French Presidential Election Live Tracker
The second round of the French presidential election is by now well underway, with just 5 hours left in the voting day, a 30.66% voter turnout by noon (compared to 34.11% in the runoff round in 2007) according to the Ministry of the Interior, and in which the first exit polls give
Hollande an expected 52.5-53% lead over Sarkozy. While not much can be
disclosed by law until polling stations close at 8pm, our French
speaking readers can find the best live blog of the election at Le Figaro, while for everyone else we recommend the following live feed of France24 TV
in English with the best election coverage. At this point one thing is
certain: it will take either a miracle, or Diebold, to prevent the
official launch of Horkel (which we are more partial to, as we coined
it, than Merlande), or in those rare occasions when the media
establishment has has enough of being lied to, Merde.A Preview Of Monday Morning In Europe
While
most will be following what appears to be an almost certain Hollande
victory in the French presidential runoff elections tomorrow (InTrade
odds around 10%),
it is very likely that the Greek election will have a greater acute
impact on the political and financial facade of Europe, especially in
the short term. As we noted in
what we dubbed our first (of many) Greek election previews, the
biggest problem facing the new political regime will be its near
certain inability to form a coalition government (with just 32.6% of
the vote going to PASOK and New Democracy) that does not undo most of
what has been achieved through popular sweat and tears over the past 2
years to assist Europe's bankers in transferring what little Greek
wealth remains to fund the insolvent European bank balance sheets. This
in turn could begin the latest cascading contagion waterfall, which
coupled with an anti-austerity drive emanating from a newly socialist
France will threaten to topple Angela Merkel's carefully constructed
European hegemony.
Pierre
Lassonde: Chairman of Franco-Nevada – He is one of the living legends
in the mining and resource world with over 35 years of experience.
Pierre is the current Chairman of Franco-Nevada and Co-Founded
Franco-Nevada Mining Corporation with Seymour Schulich in 1982 and over a
20 year period, provided shareholders with a 36% annualized rate of
return. He was able to build up and successfully merge Franco Nevada
into Newmont Mining in what was essentially a depression in the mining
sector. It was the worst of times, but somehow in the midst of those
horrific industry conditions Pierre and everyone associated with him
thrived. Pierre then became President of Newmont Mining Corporation
from 2002 to 2006.Listen Now @ KingWorldNews.com
BTFD...
by Dr. Jeffrey Lewis, Silver Seek:
Many
observers of the silver market have wondered why futures prices for
silver seem so low when demand for the physical metal continues to
increase in the face of an ever dwindling supply of the precious and
industrial metallic commodity.
In essence, the economic model of price determination by supply and demand factors would seem to indicate a considerably higher equilibrium price for silver than what is currently prevailing.
As a result, frustrated silver holders often eventually conclude that the silver futures market is simply being manipulated by those with a compelling interest in seeing the price of silver at unrealistically low levels, perhaps so that they can more easily purchase the physical metal themselves.
Read More @ Silver Seek
Many
observers of the silver market have wondered why futures prices for
silver seem so low when demand for the physical metal continues to
increase in the face of an ever dwindling supply of the precious and
industrial metallic commodity.In essence, the economic model of price determination by supply and demand factors would seem to indicate a considerably higher equilibrium price for silver than what is currently prevailing.
As a result, frustrated silver holders often eventually conclude that the silver futures market is simply being manipulated by those with a compelling interest in seeing the price of silver at unrealistically low levels, perhaps so that they can more easily purchase the physical metal themselves.
Read More @ Silver Seek
by Karen Roche and JT Long, The Gold Report:
A
“paralyzed” Federal Reserve Bank, in its “final days,” held hostage by
Wall Street “robots” trading in markets that are “artificially
medicated” are just a few of the bleak observations shared by David
Stockman, former Republican U.S. Congressman and director of the Office
of Management and Budget. He is also a founding partner of Heartland
Industrial Partners and the author of The Triumph of Politics: Why Reagan’s Revolution Failed and the soon-to-be released The Great Deformation: How Crony Capitalism Corrupts Free Markets and Democracy. The Gold Report caught up with Stockman for this exclusive interview at the recent Recovery Reality Check conference.
The Gold Report: David, you have talked
and written about the effect of government-funded, debt-fueled spending
on the stock market. What will be the real impact of quantitative
easing?
David Stockman: We are in the last innings of a very bad ball game. We are coping with the crash of a 30-year–long debt super-cycle and the aftermath of an unsustainable bubble.
Quantitative easing is making it worse by facilitating more public-sector borrowing and preventing debt liquidation in the private sector—both erroneous steps in my view. The federal government is not getting its financial house in order. We are on the edge of a crisis in the bond markets. It has already happened in Europe and will be coming to our neighborhood soon.
Read More @ Theaureport.com
David Stockman: We are in the last innings of a very bad ball game. We are coping with the crash of a 30-year–long debt super-cycle and the aftermath of an unsustainable bubble.
Quantitative easing is making it worse by facilitating more public-sector borrowing and preventing debt liquidation in the private sector—both erroneous steps in my view. The federal government is not getting its financial house in order. We are on the edge of a crisis in the bond markets. It has already happened in Europe and will be coming to our neighborhood soon.
Read More @ Theaureport.com
by Theresa Riley, Bill Moyers:
Today’s jobs numbers — 115,000 new jobs in April — are causing some to worry our recovery may be softening. Mitt Romney pounced on the numbers this morning, calling them “very, very disappointing” on several networks.
“We should be seeing numbers in the 500,000 jobs created per month,” Mr. Romney said. “This is way, way, way off from what should happen in a normal recovery.”
Media that Matters contextualizes Romney’s ambition by noting that 500,000 jobs growth in a month has only happened “five times since the end of the Eisenhower administration: March 1978, April 1978, September 1983, September 1997, and May 2010″ — and a “grand total of 16 times in U.S. history.”
To put that in perspective, monthly job growth that exceeds 500,000 happens with roughly the same frequency as perfect games in baseball, of which there have been 19 since 1900. (Not an exact comparison, of course, but it illustrates the infrequency.)
Read More @ BillMoyers.com
Today’s jobs numbers — 115,000 new jobs in April — are causing some to worry our recovery may be softening. Mitt Romney pounced on the numbers this morning, calling them “very, very disappointing” on several networks.“We should be seeing numbers in the 500,000 jobs created per month,” Mr. Romney said. “This is way, way, way off from what should happen in a normal recovery.”
Media that Matters contextualizes Romney’s ambition by noting that 500,000 jobs growth in a month has only happened “five times since the end of the Eisenhower administration: March 1978, April 1978, September 1983, September 1997, and May 2010″ — and a “grand total of 16 times in U.S. history.”
To put that in perspective, monthly job growth that exceeds 500,000 happens with roughly the same frequency as perfect games in baseball, of which there have been 19 since 1900. (Not an exact comparison, of course, but it illustrates the infrequency.)
Read More @ BillMoyers.com
by Yasmine Saleh and Edmund Blair, Reuters:
Egypt’s
military rulers on Saturday imposed an overnight curfew and deployed
soldiers around the Defence Ministry to deter a repeat of Friday’s
deadly violence, less than three weeks before a presidential vote.
One soldier died and almost 400 people were wounded in Friday’s clashes, the second time in a week that protests over the army’s handling of Egypt’s troubled transition from army rule to civilian government have turned violent.
The military imposed a 11 p.m. to 7 a.m. curfew (2100 GMT to 0500 GMT) in the Abbasiya district around the defense ministry for the second straight day, according to a military source.
Read More @ Reuters.com
Egypt’s
military rulers on Saturday imposed an overnight curfew and deployed
soldiers around the Defence Ministry to deter a repeat of Friday’s
deadly violence, less than three weeks before a presidential vote.One soldier died and almost 400 people were wounded in Friday’s clashes, the second time in a week that protests over the army’s handling of Egypt’s troubled transition from army rule to civilian government have turned violent.
The military imposed a 11 p.m. to 7 a.m. curfew (2100 GMT to 0500 GMT) in the Abbasiya district around the defense ministry for the second straight day, according to a military source.
Read More @ Reuters.com
Liberty Blitzkrieg
So
today Warren Buffet and Berkshire Hathaway host their annual pilgrimage
of automatons to the heartland of America to meet the country’s richest
guy who is “just like you.” Why is he just like you? Because he eats
hamburgers, drinks cherry coke and loves ice cream cones. This just a
day after his right hand man, Charlie Munger called people that buy gold
uncivilized and made some disgusting comment about how only Jews in Nazi Germany
before getting thrown in a train to a concentration camp have any
reason to buy it. As a close friend of mine stated yesterday: “MUNGER
TELLS CNBC `CIVILIZED PEOPLE DON’T BUY GOLD’…yeah what they do is they
insider trade Lubrizol.”
Read More @ LibertyBlitzkrieg.com
So
today Warren Buffet and Berkshire Hathaway host their annual pilgrimage
of automatons to the heartland of America to meet the country’s richest
guy who is “just like you.” Why is he just like you? Because he eats
hamburgers, drinks cherry coke and loves ice cream cones. This just a
day after his right hand man, Charlie Munger called people that buy gold
uncivilized and made some disgusting comment about how only Jews in Nazi Germany
before getting thrown in a train to a concentration camp have any
reason to buy it. As a close friend of mine stated yesterday: “MUNGER
TELLS CNBC `CIVILIZED PEOPLE DON’T BUY GOLD’…yeah what they do is they
insider trade Lubrizol.”Read More @ LibertyBlitzkrieg.com
by Harvey Organ, HarveyOrgan.Blogspot.ca:
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 results of those two big elections in Greece and in France.
Let us now head over to the comex and see how trading effected the price of silver and gold.
The total gold comex OI fell appreciably to the tune of 5,252 contracts from 415,844 to 410,592 as gold and silver were raided yesterday. The newbie longs as I promised you were washed away as they succumbed to the antics of our criminal bankers. The non official delivery month of May saw its OI fall 5 contracts from 78 to 73. We had 5 delivery notices on Thursday so we neither gained nor lost any additional gold ounces standing. The next big delivery month for gold is June and here the OI lost a rather large 7,029 contracts as the OI fell from 213,202 down to 206,173. It was here that saw the greatest damage to our newbie longs.
Read More @ HarveyOrgan.Blogspot.ca
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 results of those two big elections in Greece and in France.
Let us now head over to the comex and see how trading effected the price of silver and gold.
The total gold comex OI fell appreciably to the tune of 5,252 contracts from 415,844 to 410,592 as gold and silver were raided yesterday. The newbie longs as I promised you were washed away as they succumbed to the antics of our criminal bankers. The non official delivery month of May saw its OI fall 5 contracts from 78 to 73. We had 5 delivery notices on Thursday so we neither gained nor lost any additional gold ounces standing. The next big delivery month for gold is June and here the OI lost a rather large 7,029 contracts as the OI fell from 213,202 down to 206,173. It was here that saw the greatest damage to our newbie longs.
Read More @ HarveyOrgan.Blogspot.ca
from KingWorldNews:
The
KWN Weekly Metals Wrap – We have added new segments to the KWN Weekly
Metals Wrap covering gold, silver, trading and a plethora of other
factors affecting the precious metals markets. I am giving King World
News listeners globally access to what has long been my secret weapons
in researching where gold and silver are headed directionally along with
the COT Report. We Cover the Commitment of Traders Report in detail as
well as a number of other factors which can influence the gold and
silver market price action.
Listen Now @ KingWorldNews.com
The
KWN Weekly Metals Wrap – We have added new segments to the KWN Weekly
Metals Wrap covering gold, silver, trading and a plethora of other
factors affecting the precious metals markets. I am giving King World
News listeners globally access to what has long been my secret weapons
in researching where gold and silver are headed directionally along with
the COT Report. We Cover the Commitment of Traders Report in detail as
well as a number of other factors which can influence the gold and
silver market price action.Listen Now @ KingWorldNews.com
from stefbot:
Redmond Weisenberger of Mises Canada discusses the Québec student riots with Stefan Molyneux, host of Freedomain Radio. www.mises.ca
Here’s my new interview with writer and radio host Stephen Lendman. We
cover all of the latest breaking news including the reports of the
alleged DHS’ plan for civil war in America, the Occupy Movement and the
NATO lock down of Chicago. Thanks for tuning in to Liberty.
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Redmond Weisenberger of Mises Canada discusses the Québec student riots with Stefan Molyneux, host of Freedomain Radio. www.mises.ca
CIVIL WAR in America? 'This Stuff is Really Terrifying' - Stephen Lendman: Part 1
'This is What rEVOLutions Are Made Of' - Stephen Lendman: Part 2
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