Tax Cheat Geithner and The Bernank Demand New Mega-Bailout of Europe
LaRouche: Our Enemies Could End Civilization This Weekend
from LaRouche Pac:
Capitol Hill sources have confirmed that Treasury Secretary Timothy
Geithner and Federal Reserve Chairman Ben Bernanke are demanding that
Congress prepare emergency legislation for yet another hyperinflationary
bailout of the hopelessly bankrupt trans-Atlantic financial system. For
the past week, the two men have been meeting secretly with leading
Congressional Democrats and Republicans, demanding that they draft new
legislation to bailout the banks on an even larger scale than after the
2008 collapse.According to several congressional sources, Geithner and Bernanke have pledged that they will do everything in their power to flood European banks with bailout funds through the Federal Reserve, but they candidly admit that it may be impossible, and that congressional action may be required. If the crisis hits, they warn, there must be legislation already prepared, because the speed and magnitude of the crisis may require extraordinary intervention to “save the system.”
Lyndon LaRouche today denounced the Bernanke-Geithner efforts as “tantamount to treason.” “The current Trans-Atlantic system cannot be saved” LaRouche warned. “The only option is the immediate reinstatement of the original Franklin Roosevelt Glass-Steagall Act. It must happen now!”
Read More @ LaRouchePac.com
As The US CapEx Boom Ends, Is The Fed Now Truly Out Of Ammo?
For the past six months we have extensively discussed the topics of asset depletion, aging and encumbrance in Europe - a theme that has become quite poignant in recent days, culminating with the ECB once again been "forced" to expand the universe of eligible collateral
confirming that credible, money-good European assets have all but run
out. We have also argued that a key culprit for this asset quality
deterioration has been none other than central banks, whose ruinous ZIRP policies have forced companies to hoard cash, but not to
reinvest in their businesses and renew their asset bases, in the form
of CapEx spending, but merely to have dry powder to hand out as
dividends in order to retain shareholders who now demand substantial
dividend sweeteners in a time when stocks are the new "fixed income."
Yet while historically we have focused on Europe whose plight is more
than anything a result of dwindling cash inflows from declining assets
even as cash outflow producing liabilities stay the same or increase,
the "asset" problem is starting to shift to the US. And as everyone who
has taken finance knows, when CapEx goes, revenues promptly follow.
Needless to say, at a time when still near record corporate revenues and
profit margins are all that is supporting the US stock market from
joining its global brethren in tumbling, this will soon be a very
popular point of discussion in the mainstream media... in about 3-6
months.Some Thoughts On Overseas Investing In U.S. Real Estate
What
few media pundits seem to grasp is that when our trade deficits
transfer hundreds of billions of dollars to other nations, those dollars
have to end up in dollar-denominated assets like bonds, stocks or real
estate. Many people have missed the difference between dollars used to
settle accounts and dollars held as a result of trade deficits. Many of
those emotionally wedded to the belief that the U.S. dollar is doomed
gleefully grabbed onto the news that China and Japan will swap
currencies directly (yen and yuan) rather than intermediate the trade
with U.S. dollars. This was mistakenly seen as a nail in the coffin of
the USD. If I am in Japan and I have yuan due to trade with China, and I
want to exchange those yuan for yen, I only need USD for about 10
seconds to intermediate the exchange. Cutting out the USD simply cut the
exchange costs and lowered the daily trading volume of the USD. This
reduction in the transactions needed to exchange yuan for yen did
nothing to change the dollars held by China or Japan as a result of
their trade surpluses with the U.S. This also didn't lower the amount of
assets or credit (debt) denominated in USD. In other words, the effect
on the value of the dollar is trivial. No matter how many
exchanges the USD sitting in overseas accounts are pushed through, they
still end up in dollar-denominated assets somewhere.With Total Viewers Sliding To 7 Year Lows, Is CNBC Fading Into Obscurity?
In the past 24 hours, some readers have been surprised to learn that as Jeff Reeves of InvestorPlace states,
total Q2 CNBC viewership as calculated by Nielsen, has tumbled to to
the lowest it has been since Q3 2005. This merely confirms that the
trendline in our periodic observations of
CNBC traffic was more than merely seasonal or VIX-related: it has been
one long secular decline, peaking in the quarter of Lehman's demise
and down hill ever since.Italy's cost rise again/Spain 10 yr bond yields cross 6.9%/Italian bonds finish at 6.2%
Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 7 hours ago
Good
evening Ladies and Gentlemen:
Gold fell today to the tune of $15.10 dollars to $1572.60. Silver also
followed suit falling by 48 cents to $27.04. The bankers were using all
their influence trying to dissuade investors from taking delivery in
silver. Even though bourses in Europe and the USA were up today, so
were the bond yields of Portugal, Spain and Italy. Spain finished with a
yield
US Dollar: Global Liquidity Is Tightening
Admin at Marc Faber Blog - 11 hours ago
I think it is very difficult to be bullish about the US dollar or anything
in the US economy. But, compared to other currencies, the dollar is now a
relatively safe currency.
Global liquidity is tightening and so the dollar probably will continue to
appreciate, most likely also against Euro. But it is not that the US dollar
is particularly good. It is just less bad for the time being. - *in
Economic Times *
*Marc Faber is an international investor known for his uncanny predictions
of the stock market and futures markets around the world.*How Much To Save The Euro?
Germany keeps being told that it must pay up to save the euro. But how much can Germany pay? No-one seems to have thought about that, but there is already concern about the possible size of bill – German bond yields rose soon after news of the Spanish bail out, even before it was announced where the money was going to come from. (And it was of course a bail out for Spain, regardless of what Spain’s prime minister says. If I borrow money and then lend it to someone else I’ve still borrowed it.) There is though a more basic question. How much does it make sense for Germany to pay? What sort of bill would it be reasonable to present to them? In fact the best approximation one can arrive at is a bill of zero. Why zero? What about all these exports that have been produced because Germany has a currency whose value is determined not just by Germany but also by less productive, higher cost, economies? That link has artificially depressed the prices of German exports. These net exports resulting from Germany’s Eurozone membership are actually the problem.Obama Better Prepared To Handle Alien Invasion, Poll Finds
The
two presidential candidates may be neck and neck in most
(un)popularity polls, and according to some metaphorical sources are
even the same person just with different Wall Street backers, but when
it comes to the critical topic of resisting an alien invasion, Obama is
far better prepared, according to two thirds of the population.Will India Implement The First "Executive Order 6102" Of The 21st Century?
Something
strange has been happening in India in the last year: while the rest
of the "developed" world has been doing all in its power to crush its
currency in order to promote exports within a globalist mercantilist
system suddenly gone haywire, India has had the opposite problem: with
its economy slowing down even as rampant inflation persists, its
currency has been sliding against all other currencies. But probably
more importantly: plunging against gold, as can be seen on the chart
enclosed. It appears that finally after months of "being long of Gold in
Indian Rupee terms" having proven to be quite a resilient and
profitable strategy, the Indian state has also figured it out. And they
are unhappy. Because to them, the key reason for the rupee
weakness has nothing to do with the actual economy, and all to do with
the Indian population trying to protect against currency debasement
coupled with inflation: i.e., purchasing gold. And they will no longer allow it.
from KingWorldNews:
Ahead of the critical meetings taking place in Europe on Thursday and Friday, today King World News interviewed one of the wealthiest and most street-smart pros in the business, Rick Rule. He warned about the current fragility of the global financial system. Rule, who is now part of Sprott Asset Management, also had this fascinating news to share with KWN regarding the big money players he is speaking with: “It was very interesting, Eric, I was at a small conference that was put on for some European and North American offices. You know family office money is a different kind of money than most money, it’s multi-generational money. They represent the very wealthy and they are stable, patient investors. But I have to say, even that kind of money is frightened.”
“The sense that you have in Europe is that the European political union and the European economic union are faced with some real dislocations. That isn’t to say that it necessarily won’t survive, but certainly from the point of view of the private wealth in Europe, the money managers for those families are quite concerned.
Rick Rule continues @ KingWorldNews.com
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Ahead of the critical meetings taking place in Europe on Thursday and Friday, today King World News interviewed one of the wealthiest and most street-smart pros in the business, Rick Rule. He warned about the current fragility of the global financial system. Rule, who is now part of Sprott Asset Management, also had this fascinating news to share with KWN regarding the big money players he is speaking with: “It was very interesting, Eric, I was at a small conference that was put on for some European and North American offices. You know family office money is a different kind of money than most money, it’s multi-generational money. They represent the very wealthy and they are stable, patient investors. But I have to say, even that kind of money is frightened.”
“The sense that you have in Europe is that the European political union and the European economic union are faced with some real dislocations. That isn’t to say that it necessarily won’t survive, but certainly from the point of view of the private wealth in Europe, the money managers for those families are quite concerned.
Rick Rule continues @ KingWorldNews.com
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from CapitalAccount:
Welcome to Capital Account. Barclays PLC and its subsidiaries will pay $450 million to settle with US and UK authorities over accusations the bank attempted to manipulate key interest rates to benefit derivatives trading positions. This is just the first settlement, and a global investigation involving many of the world’s biggest banks is on-going . Are you sick of this? Do you want to put your money in a bank that simply uses your deposits to make loans to finance the economy, not to finance speculation? Well we’ll talk to CEO of EagleBank Ron Paul, about community banks as an alternative.
Also, is the traditional small bank business model being destroyed by ZIRP? What would be the impact of NIRP, a negative interest rate policy? The ECB is reportedly contemplating it; Mario Draghi is thinking of reducing the bank’s deposit rate to zero or even lower. We’ll talk about it.
Welcome to Capital Account. Barclays PLC and its subsidiaries will pay $450 million to settle with US and UK authorities over accusations the bank attempted to manipulate key interest rates to benefit derivatives trading positions. This is just the first settlement, and a global investigation involving many of the world’s biggest banks is on-going . Are you sick of this? Do you want to put your money in a bank that simply uses your deposits to make loans to finance the economy, not to finance speculation? Well we’ll talk to CEO of EagleBank Ron Paul, about community banks as an alternative.
Also, is the traditional small bank business model being destroyed by ZIRP? What would be the impact of NIRP, a negative interest rate policy? The ECB is reportedly contemplating it; Mario Draghi is thinking of reducing the bank’s deposit rate to zero or even lower. We’ll talk about it.
by Moorad Choudhry, CNBC:
Fiat money is a wonderful thing is it not? Truly one of the more useful
developments in society since humans first learned to think / speak,
that one can put in a day’s work and be rewarded with a piece of paper,
which can itself be exchanged for something as marvelous as a punnet of
strawberries or a Fender Jazz Bass.
So easy, right? And not a large wheel-barrowful of paper as citizens would have needed in the Weimar Republic, but a small scrap that is literally like Monopoly paper. (The 500 euro ($632) note, at approximately 404 pounds, is coincidentally exactly one week’s average gross salary for workers in the UK in 2011. Just think, all that purchasing power contained in a piece of paper measuring 160 x 82 mm! And in Bangladesh that note would be 60 percent of average annual salary…).
The public could be forgiven for wondering where the money comes from. Originally, that is. What is backing up the value implicit in a bank note?
Read More @ CNBC.com
Fiat money is a wonderful thing is it not? Truly one of the more useful
developments in society since humans first learned to think / speak,
that one can put in a day’s work and be rewarded with a piece of paper,
which can itself be exchanged for something as marvelous as a punnet of
strawberries or a Fender Jazz Bass. So easy, right? And not a large wheel-barrowful of paper as citizens would have needed in the Weimar Republic, but a small scrap that is literally like Monopoly paper. (The 500 euro ($632) note, at approximately 404 pounds, is coincidentally exactly one week’s average gross salary for workers in the UK in 2011. Just think, all that purchasing power contained in a piece of paper measuring 160 x 82 mm! And in Bangladesh that note would be 60 percent of average annual salary…).
The public could be forgiven for wondering where the money comes from. Originally, that is. What is backing up the value implicit in a bank note?
Read More @ CNBC.com
from KingWorldNews:
With global stock markets trading higher, today King World News
interviewed legendary value investor Jean Marie Eveillard, who oversees
$50 billion at First Eagle Funds. Eveillard told KWN that despite “the
fact that the stimulus has been completely unprecedented in scope … the
economic recovery seems to be sputtering.” He also discussed the gold
market, but first, here is what Eveillard had to say about the ongoing
crisis: “There is no doubt that there are major deflationary forces at
play. There is also no doubt that the private sector is continuing to
deleverage. But in order to prevent the deleveraging of the private
sector from sending the economy into a replay of the Great Depression,
governments are leveraging themselves.”
“So the public sector is leveraging up in a major way in practically every country. And in a pure paper money system, which we’ve had for more than 40 years, in a pure paper money system you can always inflate. There are deflationary forces at work, but governments are making sure they are offset, if not more than offset, by leveraging up of the public sector. So I wouldn’t worry too much about deflation.
Jean-Marie Eveillard continues @ KingWorldNews.com
Remember the “super-predators”? They were the supposedly super-violent
youngsters of dark complexion that conservatives kept screaming about in
the 1990s. We were told they were about to unleash an unprecedented
wave of vicious crime any day now.
Those super-predators don’t exist, and never did. But the myth of the “super-predator” offers us a new (and, admittedly, partially ironic) lens through which to view today’s corporate executives, a class of people which is apparently remorseless about the harm it causes in the pursuit of self-enrichment.
Let’s be clear: No group of human beings is uniquely predisposed toward evil. But society and government are supposed to discourage people from from acting on their worst impulses, and when it comes to the corporate class they — and we — have failed.
Now the rise of the Corporate Super-predator Class could culminate in the election of one of its own to the highest office in the land.
Read More @ OpEdNews.com.com
With global stock markets trading higher, today King World News
interviewed legendary value investor Jean Marie Eveillard, who oversees
$50 billion at First Eagle Funds. Eveillard told KWN that despite “the
fact that the stimulus has been completely unprecedented in scope … the
economic recovery seems to be sputtering.” He also discussed the gold
market, but first, here is what Eveillard had to say about the ongoing
crisis: “There is no doubt that there are major deflationary forces at
play. There is also no doubt that the private sector is continuing to
deleverage. But in order to prevent the deleveraging of the private
sector from sending the economy into a replay of the Great Depression,
governments are leveraging themselves.”“So the public sector is leveraging up in a major way in practically every country. And in a pure paper money system, which we’ve had for more than 40 years, in a pure paper money system you can always inflate. There are deflationary forces at work, but governments are making sure they are offset, if not more than offset, by leveraging up of the public sector. So I wouldn’t worry too much about deflation.
Jean-Marie Eveillard continues @ KingWorldNews.com
by Richard Eskow, Op Ed News:
Remember the “super-predators”? They were the supposedly super-violent
youngsters of dark complexion that conservatives kept screaming about in
the 1990s. We were told they were about to unleash an unprecedented
wave of vicious crime any day now.Those super-predators don’t exist, and never did. But the myth of the “super-predator” offers us a new (and, admittedly, partially ironic) lens through which to view today’s corporate executives, a class of people which is apparently remorseless about the harm it causes in the pursuit of self-enrichment.
Let’s be clear: No group of human beings is uniquely predisposed toward evil. But society and government are supposed to discourage people from from acting on their worst impulses, and when it comes to the corporate class they — and we — have failed.
Now the rise of the Corporate Super-predator Class could culminate in the election of one of its own to the highest office in the land.
Read More @ OpEdNews.com.com
by Andrew Hoffman, MilesFranklin.com:
Why do I write so much about manipulation, you ask? Several reasons,
each of vital importance. To start, SOMEONE needs to expose the evil
that has destroyed millions of lives, and potentially billions before
all is said and done. Second, to chronicle such deeds for posterity –
so future generations don’t let the same thing happen. And lastly –
but by far, most importantly – to spread the word to non-elites that
“markets” are but a manipulated illusion, not to be trusted in the
slightest. By understanding the nature of the TRUE supply/demand
fundamentals – and thus, where markets would be if freely-traded,
readers are EMPOWERED to fight through the PROPAGANDA, KNOWING the war
is winnable if fought properly. Fighting on “their turf” – i.e., PAPER
markets of all kinds – is a GUARANTEED loser, and fighting on “ours” –
the PHYSICAL gold and silver markets – a sure winner.Thus, I’m yet again listing the “Cartel rules” I have observed for the past decade – deployed toward the purpose of DESTROYING PM sentiment and thus, deferring the inevitable “gold fever” that will ultimately end their reign of financial terror…
Cartel “Rules”:
Rule #1: “Thou shalt not let PMs rise when the Dow plunges”
Rule #2: “All good PM days must immediately be followed by horrible days.”
Rule #3: “No key upside reversals.”
Rule #4: “On 95% of up days, gains are to be capped at 1.0%; and on 99.9%, at 2.0%.”
Rule #5: “Gold, silver, AND the PM mining shares are NEVER allowed to simultaneously surge.”
Read more @ MilesFranklin.com
by Jim Willie, Silver Doctors:
-Numerous end game items can be identified, all unusual, all strange, all dangerous
-Operation Twist is nothing but pure QE with deception
-Bank recapitalization is coming, but until they talk about $10 trillion used, nothing will change-
-New Basel III rules might elevate gold to a Tier-1 level, possibly forcing widespread bank purchases
-Absent gold in big Western banks might actually hasten a string a bank failure events
-An army of 600 highly paid accountant experts are rummaging through a big dead Wall Street bank to check for life signs
-China is recasting large gold bars into 1-kg bars, in preparation for a new trade system (also to check for tungsten formally?)
-New money and new debt are both failing, in midst of massive slippage on desired effects
-Operation Twist is actually buying all the 30-year USTBonds ever issued
-Beware of a perverse USDollar backwardation, as paper is given a premium over contracts and electronic forms
-The Draghi LTRO funds turned out to be stillborn baby that further infected the European banks
-Bank runs are spreading slowly but in a recognizable manner in Italy, Spain, France, and the UK
-The Greek Govt debt default is the unavoidable inevitable event upcoming, to act like a lit fuse
-Debt is being widely contradicted as wealth, in all forms of assets
Gold will be the last asset standing, despite a wave of criminal activity within the Gold market
Read More @ SilverDoctors.com
-Numerous end game items can be identified, all unusual, all strange, all dangerous-Operation Twist is nothing but pure QE with deception
-Bank recapitalization is coming, but until they talk about $10 trillion used, nothing will change-
-New Basel III rules might elevate gold to a Tier-1 level, possibly forcing widespread bank purchases
-Absent gold in big Western banks might actually hasten a string a bank failure events
-An army of 600 highly paid accountant experts are rummaging through a big dead Wall Street bank to check for life signs
-China is recasting large gold bars into 1-kg bars, in preparation for a new trade system (also to check for tungsten formally?)
-New money and new debt are both failing, in midst of massive slippage on desired effects
-Operation Twist is actually buying all the 30-year USTBonds ever issued
-Beware of a perverse USDollar backwardation, as paper is given a premium over contracts and electronic forms
-The Draghi LTRO funds turned out to be stillborn baby that further infected the European banks
-Bank runs are spreading slowly but in a recognizable manner in Italy, Spain, France, and the UK
-The Greek Govt debt default is the unavoidable inevitable event upcoming, to act like a lit fuse
-Debt is being widely contradicted as wealth, in all forms of assets
Gold will be the last asset standing, despite a wave of criminal activity within the Gold market
Read More @ SilverDoctors.com
by Dominic Patton, Deadline
Coming off its least-watched month in primetime in 20 years in May, CNN has taken another big ratings blow: The cable news network has registered to its lowest-rated quarter in primetime since 1991. For
this year’s second quarter, CNN hit a low among total viewers and the
key adults 25-54 demographic, with all primetime programs posting steep
declines. The network averaged 446,000 total viewers and
129,000 in the 25-54 demo in primetime. Compared to last year’s second
quarter, that’s down 35% and 41%, respectively. Rival Fox New Channel,
meanwhile, with 1.79 million primetime total viewers on average, was
down 1% from its 2011 second-quarter numbers. FNC lost 14% in the 25-54,
bringing in 355,000 viewers. MSNBC was down 13% in total primetime
viewers, with 689,000 on average, and down 17% in the 25-54 with
217,000. The quarter ran March 26-June 22.
Individually, CNN shows hemorrhaged viewers heavily compared with last year. Wolf Blitzer’s The Situation Room, which airs from 4-6 PM ET, was down 42% in 25-54 and 26% in total viewers. His show is expanding to three hours beginning Friday, taking over CNN’s recently cancelled John King U.S.A. At 7 PM, Erin Burnett OutFront, which debuted in October replacing a then-moving John King U.S.A., was down 45% in 25-54 from last year’s second quarter and down 33% in total viewers. Piers Morgan Tonight, which replaced Larry King Live in January 2011, was down 33% in the 25-54 and 29% in total viewers. Pulling double duty, Anderson Cooper took a double hit: Anderson Cooper 360 at 8 PM was down 23% in the 25-54 and 19% in total viewers, and its 10 PM airing was down 48% in the demo and 44% in viewers.
Read More @ Deadline.com
Coming off its least-watched month in primetime in 20 years in May, CNN has taken another big ratings blow: The cable news network has registered to its lowest-rated quarter in primetime since 1991. For
this year’s second quarter, CNN hit a low among total viewers and the
key adults 25-54 demographic, with all primetime programs posting steep
declines. The network averaged 446,000 total viewers and
129,000 in the 25-54 demo in primetime. Compared to last year’s second
quarter, that’s down 35% and 41%, respectively. Rival Fox New Channel,
meanwhile, with 1.79 million primetime total viewers on average, was
down 1% from its 2011 second-quarter numbers. FNC lost 14% in the 25-54,
bringing in 355,000 viewers. MSNBC was down 13% in total primetime
viewers, with 689,000 on average, and down 17% in the 25-54 with
217,000. The quarter ran March 26-June 22.Individually, CNN shows hemorrhaged viewers heavily compared with last year. Wolf Blitzer’s The Situation Room, which airs from 4-6 PM ET, was down 42% in 25-54 and 26% in total viewers. His show is expanding to three hours beginning Friday, taking over CNN’s recently cancelled John King U.S.A. At 7 PM, Erin Burnett OutFront, which debuted in October replacing a then-moving John King U.S.A., was down 45% in 25-54 from last year’s second quarter and down 33% in total viewers. Piers Morgan Tonight, which replaced Larry King Live in January 2011, was down 33% in the 25-54 and 29% in total viewers. Pulling double duty, Anderson Cooper took a double hit: Anderson Cooper 360 at 8 PM was down 23% in the 25-54 and 19% in total viewers, and its 10 PM airing was down 48% in the demo and 44% in viewers.
Read More @ Deadline.com
by Susanne Posel, Occupy Corporatism:
Valdimir Zhirinovsky, Russian Liberal Party leader wants US President Barack Obama stripped
of his Nobel Peace Prize (NPP). In 2009, Obama was given the
prestigious award because of his work on nuclear non-proliferation.
Zhirinovsky, in a statement ,
says that because of “these developments in Libya are another
outrageous act of aggression by NATO forces and, in particular, the
United States.” He also pointed out that Obama’s strike was a “colonial
policy” that intended to usurp control over Libyan oil.
Bolivian President Evo Morales agrees with Zhirinovsky, as he commented : “How is it possible that a Nobel Peace Prize winner leads a gang to attack and invade? This is not a defense of human rights or self-determination.”
Other commentators were more frank: “Obama gives speeches trashing his own country and for that gets a prize, which is now worth as much as whatever prizes they are putting in Cracker Jacks these days.”
Guenther Oettinger, leader of the German state of Baden-Wuerttemberg, told Bloomberg that the NPP is given “at the end” of a persons’ achievements, not the beginning.
Since Obama’s election in 2008, he has turned from the commander-in-chief to the “ drone warrior-in-chief ” as the shredding of the US Constitution by his administration paved the way for draconian legislation, use of torture and murdering of Americans without due process.
Read More @ OccupyCorporatism.com
Valdimir Zhirinovsky, Russian Liberal Party leader wants US President Barack Obama stripped
of his Nobel Peace Prize (NPP). In 2009, Obama was given the
prestigious award because of his work on nuclear non-proliferation.
Zhirinovsky, in a statement ,
says that because of “these developments in Libya are another
outrageous act of aggression by NATO forces and, in particular, the
United States.” He also pointed out that Obama’s strike was a “colonial
policy” that intended to usurp control over Libyan oil.Bolivian President Evo Morales agrees with Zhirinovsky, as he commented : “How is it possible that a Nobel Peace Prize winner leads a gang to attack and invade? This is not a defense of human rights or self-determination.”
Other commentators were more frank: “Obama gives speeches trashing his own country and for that gets a prize, which is now worth as much as whatever prizes they are putting in Cracker Jacks these days.”
Guenther Oettinger, leader of the German state of Baden-Wuerttemberg, told Bloomberg that the NPP is given “at the end” of a persons’ achievements, not the beginning.
Since Obama’s election in 2008, he has turned from the commander-in-chief to the “ drone warrior-in-chief ” as the shredding of the US Constitution by his administration paved the way for draconian legislation, use of torture and murdering of Americans without due process.
Read More @ OccupyCorporatism.com
from Unconventional Finance:
by John Rubino, DollarCollapse.com:
In market parlance, volatility is another word for fear. That’s why a
volatility index like the S&P 500 VIX Short-Term Futures — aka the
VIX — rises when stocks fall but falls when stocks spike.
Lately, the VIX has been sending an all-clear signal by gradually falling. It’s not at record lows, but it is trending that way, implying that we’re headed for a relatively tranquil period with a positive bias in stock prices.
To which a rational observer might respond: “Greece, Spain, Italy, California, Illinois, Iran, Syria…”. Today’s world is anything but stable and positively-biased, so maybe it’s time to once again bet on a return of fear and downside volatility.
One popular vehicle for this kind of speculation is VXX, the iPath S&P 500 VIX Short-Term Futures ETN. It’s down big lately, and, fitting for a volatility play, is hugely volatile itself, moving by double-digit percentages on big market days. Let any of the above landmines blow up and VXX will soar.
Read More @ DollarCollapse.com
In market parlance, volatility is another word for fear. That’s why a
volatility index like the S&P 500 VIX Short-Term Futures — aka the
VIX — rises when stocks fall but falls when stocks spike.Lately, the VIX has been sending an all-clear signal by gradually falling. It’s not at record lows, but it is trending that way, implying that we’re headed for a relatively tranquil period with a positive bias in stock prices.
To which a rational observer might respond: “Greece, Spain, Italy, California, Illinois, Iran, Syria…”. Today’s world is anything but stable and positively-biased, so maybe it’s time to once again bet on a return of fear and downside volatility.
One popular vehicle for this kind of speculation is VXX, the iPath S&P 500 VIX Short-Term Futures ETN. It’s down big lately, and, fitting for a volatility play, is hugely volatile itself, moving by double-digit percentages on big market days. Let any of the above landmines blow up and VXX will soar.
Read More @ DollarCollapse.com
from Azizonomics:
I have long suspected that a money supply based on nothing other than faith in government is a productivity killer.
Last November I wrote:
During 1947-73 (for all but two of those years America had a gold standard where the unit of exchange was tied to gold at a fixed rate) average family income increased at a greater rate than that of the top 1%. From 1979-2007 (years without a gold standard) the top 1% did much, much better than the average family.
As we have seen with the quantitative easing program, the newly-printed money is directed to the rich. The Keynesian response to that might be that income growth inequality can be solved (or at least remedied) by making sure that helicopter drops of new money are done over the entire economy rather than directed solely to Wall Street megabanks.
But I think there is a deeper problem here. My hypothesis is that leaving the gold exchange standard was a free lunch: GDP growth could be achieved without any real gains in productivity, or efficiency, or in infrastructure, but instead by just pumping money into the system.
And now I have empirical evidence that my hypothesis has been true — total factor productivity.
Read More @ Azizonomics.com
Jim Sinclair’s Commentary
China, Chile to establish strategic partnership, boost trade English.news.cn 2012-06-27 04:56:13
SANTIAGO, June 26 (Xinhua) — China and Chile agreed Tuesday to upgrade their bilateral ties to a strategic partnership, and double trade in three years.
Chinese Premier Wen Jiabao and Chilean President Sebastian Pinera announced Tuesday the establishment of China-Chile strategic partnership and the completion of negotiations on investment-related supplementary deals to a bilateral free trade agreement.
During their talks, Wen urged speedy signing and ratification of these supplementary deals and called for the finalization of the China-Chile free trade area.
Wen called on the two nations to expand trade in goods, promote trade in services and mutual investment, and double bilateral trade in three years.
The Chinese leader also said the two countries should enhance cooperation in mining, expand farm product trade, and promote cooperation in farm product production and processing and agricultural technology.
China would like to be actively engaged in Chile’s infrastructure construction and work with Chile to promote the development of transportation networks in Latin America, said Wen.
More…
I have long suspected that a money supply based on nothing other than faith in government is a productivity killer.Last November I wrote:
During 1947-73 (for all but two of those years America had a gold standard where the unit of exchange was tied to gold at a fixed rate) average family income increased at a greater rate than that of the top 1%. From 1979-2007 (years without a gold standard) the top 1% did much, much better than the average family.
As we have seen with the quantitative easing program, the newly-printed money is directed to the rich. The Keynesian response to that might be that income growth inequality can be solved (or at least remedied) by making sure that helicopter drops of new money are done over the entire economy rather than directed solely to Wall Street megabanks.
But I think there is a deeper problem here. My hypothesis is that leaving the gold exchange standard was a free lunch: GDP growth could be achieved without any real gains in productivity, or efficiency, or in infrastructure, but instead by just pumping money into the system.
And now I have empirical evidence that my hypothesis has been true — total factor productivity.
Read More @ Azizonomics.com
Jim Sinclair’s Commentary
The East rises while the West tries to ignore a financial crisis.
China, Chile to establish strategic partnership, boost trade English.news.cn 2012-06-27 04:56:13
SANTIAGO, June 26 (Xinhua) — China and Chile agreed Tuesday to upgrade their bilateral ties to a strategic partnership, and double trade in three years.
Chinese Premier Wen Jiabao and Chilean President Sebastian Pinera announced Tuesday the establishment of China-Chile strategic partnership and the completion of negotiations on investment-related supplementary deals to a bilateral free trade agreement.
During their talks, Wen urged speedy signing and ratification of these supplementary deals and called for the finalization of the China-Chile free trade area.
Wen called on the two nations to expand trade in goods, promote trade in services and mutual investment, and double bilateral trade in three years.
The Chinese leader also said the two countries should enhance cooperation in mining, expand farm product trade, and promote cooperation in farm product production and processing and agricultural technology.
China would like to be actively engaged in Chile’s infrastructure construction and work with Chile to promote the development of transportation networks in Latin America, said Wen.
More…
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