How to Save Your Money And Your Life...
You should do the following.- Maintain significant bank and brokerage accounts outside your home country. Consider setting up an offshore asset protection trust. These things aren't as easy to do as they used to be. But they'll likely be much less easy in the future.
- Make sure you have a significant portion of your wealth in precious metals and a significant part of that offshore.
- Buy some nice foreign real estate, ideally in a place where you wouldn't mind spending some time.
- Work on getting official residency in another country, as well as a second citizenship/passport. There's every advantage to doing so, and no disadvantages. That's true of all these things.
As Part Of Its NEW QE Q&A, Goldman Warns Of Possibility For $50-$75 Billion "Flow" Program
Not like it should come as any surprise that the bank that first among peers "discovered" that flow, not stock matters, implying the Fed may literally never be able to stop monetizing, is expecting the FOMC to "ease monetary policy on June 20", but nonetheless here is the full just released Q&A from Goldman's Jan Hatzius, who just happens to be a Pound and Pence drinking buddy of former Goldmanite Bill Dudley, who just happens to run the New York Fed. Connects the dots. Implicit is that a big dollop of Large Scale Asset Purchases is imminent. That said, if the Fed does disappoint on June 20, and merely extends the maturity of bonds that it will sell as part of a Twist extension from 3 to 4 years, as the bond market appears to be implying (as first warned by Zero Hedge), then all bets are truly off. On the other hand, note where Goldman says: "However, it is also possible that the program would be specified as a "flow" of purchases of perhaps $50bn-$75bn per month." If that happens, gold is going to $2000, $3000, hell, $10,000 very soon, as it means the Fed will not stop printing ever again. Period.
Just How Cheap Are The Junior Mining Stocks?
Dave in Denver at The Golden Truth - 18 minutes ago
*Short answer: historically cheap. For those who want an explanatory
answer, continue reading.*
Anyone who participates in or follows the mining stock sector has read the
numerous commentaries recently describing the extreme relative
undervaluation of the mining stocks, especially the juniors. In fact, I
saw an article this past weekend which demonstrated that the last time the
mining stocks, in general, were as undervalued as they are right now was in
1924.
Regardless of which relative value thesis to which you are want to
subscribe, there's no question that the mining stocks a... more »
Zorggk - The Exceedingly Great!
Richard Daughty, a.k.a., 'The Mogambo Guru' at Mogambo Guru Report! - 3 hours ago
I am dreading that it is now again time for me to make another of my stupid
periodic reports to Zorggk The Exceedingly Great, who is the new Supreme
Overlord of this barren outpost in this quadrant of the galaxy, and who
isn't happy about it.
I mean, if he is so exceedingly great, what is he doing way out here, out
across the tracks, in this backwater, low-rent, low-IQ section of the
universe?
And his famously bad mood about his new position is only one of the things
that make this reporting period so forbidding to me.
For one thing, he thinks that our beer tastes "funny" and tha... more »
No report today
Steve Organ at Harvey Organ's - The Daily Gold and Silver Report - 5 hours ago
Good
Evening Ladies and Gentlemen, unfortunately there won't be a report
tonight as Harvey is undergoing surgery unexpectedly. We expect to have
the report back up and running tomorrow.
Best regards,
Steve
London PM Fixed Gold and GLD (ETF) Total Assets WA Stochastic
Eric De Groot at Eric De Groot - 6 hours ago
As of June 18th, WA = 45% Contrarian traders and investors are waiting for
0% readings for entry. There been only three 0% WA readings since 2006.
Long-term investors are waiting for a 50% crossover for entry. Chart:
London PM Fixed Gold and GLD (ETF) Total Assets WA Stochastic
------------------------------------- Insights is intended to reflect
excellence in effort and...
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content, and more! ]]
Getting out of the cities when the time comes...
noreply@blogger.com (Patrice Lewis) at Rural Revolution - 7 hours ago
There is a fascinating article up today on SurvivalBlog called A Husband
and Wife's Thoughts on The Crunch. It's written by a couple who lives on an
historic farm and who frequently have guests and visitors anxious to learn
about rural life.
*"Lately,"* they write, *"the two of us have been talking about world
events and the need for folks to organize in like-minded communities or to
acquire 'survival' retreats. But there is something that has puzzled us. As
long time readers of SB, we have of course taken notice of the many letters
and articles about bug-out-bags and getting out of... more »
BTFD...and Keep Stacking...
US Retirement Benefits Underfunding Rises To Record $1.4 Trillion
The Pew Center has released its annual summary of US pension and retirement health care (under)funding. As of 2010, the
total underfunding gap rose by $120 billion from the prior year's
$1.26 trillion deficit to a record $1.38 trillion underfunding.
This number consists of $757 billion in pension promises, not backed
by any hard cash, representing pension liabilities of $3.07 trillion
and assets of $2.31 trillion. In 2000, more than half of the states had
their pensions 100 percent funded, but by 2010 only Wisconsin was fully funded, and
34 were below the 80 percent threshold—up from 31 in 2009 and just 22
in 2008. But that pales in comparison to the ridiculous spread between
retiree health care liabilities of $660 billion and assets of, drum roll, $33 billion, or a funding shortage that is $627 billion, roughly 19 times the actual assets in the system! Just seven states funded 25 percent or more of their retiree health care obligations: Alaska,
Arizona, North Dakota, Ohio, Oregon, Virginia, and Wisconsin. What
this means is soon US pensioners will have no choice but to experience
not only austerity unlike any seen in Europe, but broken promises of
retirement benefits which will never materialize. The response will
likewise be proportional."Textbook Economics" Quote Of The Day
For our quote of the day, we go to none other than the Fed's favorite mouthpiece, the WSJ's Jon Hilsenrath:No... not the textbooks... Does this mean... Economics 101 is... nothing but one epic lie, based on Ponzi assumptions which work in a world of constant and gradual leveraging, and completely fall apart in a deleveraging world such as the one we have now?Fed officials have been frustrated in the past year that low interest rate policies haven't reached enough Americans to spur stronger growth, the way economics textbooks say low rates should... Multiply the fruit of cheap credit across millions of households—with healthy portions of interest savings spent on goods and services—and the U.S. should be recovering more quickly, according to textbook economics.
Biderman On Europe: "Germany Must Say No To Greece, Spain, & Italy"
After offering his condolences for the loss today of Dan Dorfman,
Charles Biderman, of TrimTabs, takes the Greeks (and Germans) to task.
Charles remains long-term bearish on European stocks (and the big US
banks). Greeks, it appears from Charles perspective, want to stay in the
Euro but on easier terms. This, at first glance, perplexes the
less-than-sanguine Sausalitan, given the disastrous economic situation
they remain in. However, on reflection, Biderman realizes that the
simple fact is that the Greeks like the ability to borrow money to pay their bills and even better, never having to repay the loan
- which makes perfect sense. If the Germans are willing to keep lending
to Greece, even if most goes to repay old loans, then Greeks keep
getting some new cash - which would disappear if the Greeks left the Euro. This situation, he opines, would seem 'horrible' as "Greeks might have to go and do something for a living and even pay some taxes".
Concluding on the three types of creditors that exist, it is little
wonder that the Greeks, in their ponzi state, would want to keep the
dream alive and hold the M.A.D. grenade over Germany's head just a
little longer. The brutal truth is that Greece (and Spain and
Italy) will take as much cash as they can until there is no more given
and then-and-only-then will they act for change. The disastrous
end-result will be the same as if Germany left the Euro and first
mover advantage in this case may well prove exceptionally valuable.JC Penney President Mike Francis Came, Saw, Collected $10 Million, And Quit Nine Months Later
If
anyone is wondering why the darling stock of Bill Ackman and Whitney
Tilson, for whom every collapse of JCP is a buying gift from god, namely
JCPenney, is plunging after hours, it is because the company's
president, Michael Francis, hired October 4, 2011, has just quit. To wit:
"J. C. Penney Company, Inc. ("jcpenney") (JCP) today announced that
Michael Francis will be leaving the Company, effective today. Chief
Executive Officer Ron Johnson will assume direct responsibility and
oversight of the company's marketing and merchandising functions." And
to think that just 9 months ago the company CEO Ron Johnson announced,
that "I am thrilled to welcome Michael to our team... He is an extremely talented executive with the vision and courage to re-imagine the department store experience. His
ability to innovate and deep understanding of the industry will be
invaluable as we set out to transform J.C. Penney into America's
favorite store." And while his ability to do anything else
appears to have been a dud, his ability to read the fine print in his
contract, especially where it talks about his perks, was second to none.
Because despite leaving just 9 months after his hiring, Francis
is entitled to collect a whopping $9 million in pro-rated signing
bonus (alongside $100,000/month in salary): all in all - a tidy package
of $10 million for shooting the breeze while observing a sinking
retail ship. Not bad for a company whose stock has just plunged to September 2010 levels. Credit Slumps But VIX Dump Drives Equity Pump
Echo. In
a slightly less aggressive replay of last Sunday/Monday's reaction to
news from Europe, equity futures (and FX markets) opened gap-up and
faded significantly to end modestly green after touching the 50DMA briefly.
A 20pt drop from its open last night in S&P 500 e-mini futures on
the less-than-Armageddon-but-more-of-the-same-disaster scenario played
out, which then retraced around 50% of its drop during the day session.
Equities diverged strongly from a notably decompressing IG and HY credit market
(and significant weakness in HYG - the high-yield bond ETF). Treasuries
and FX markets also remain disconnected (implying weaker levels in US
stocks) as broadly speaking risk-assets did not feel the same love as
stocks today. It would appear that, given the heavy volatility action,
drop in Short-term vol (VIX), and recent divergence from stocks, that
there was heavy vol selling today which supported a higher
equity market in a virtuous manner until later in the afternoon when VIX
and SPX had recoupled and stocks then limped lower to VWAP. Treasuries ended the day relatively unchanged from Friday's close
after opening 6bps higher in yield, rallying 10bps from there as
equities and FX plunged, and recovering higher in yield as the US day
session progressed. EURUSD held under 1.26, diverging lower from equity
strength from just before the US open leaving the USD higher by 0.45% from Friday's close
- even as AUD strengthened notably. Commodities generally ignored USD
strength with Copper, Gold, and Silver practically unch from Friday's
close while WTI dropped over 1% to around $83 by the close. Financials underperformed as a sector (as Tech and Discretionary gained) but the majors were the worst hit having given up all their gains from Friday's MS lost 3.4%, Citi -2.6% and BofA & GS -2% with JPM close behind.On Egyptian Elections And Israeli Escalations
The
full results of the Egyptian election will not be 'released' until the
21st but as Stratfor's Reva Bhalla notes, the Muslim Brotherhood is
already claiming a narrow victory over the military's preferred
candidate. Rather sadly, she opines, "the Presidency itself may
not even matter much as the military has taken a series of moves in
recent days to overtly reassert its authority over the Egyptian
political system", further reinforcing Stratfor's historical
position that Egypt's political future will be dictated (ironic choice
of words) by the military and not by protesters in Tahrir Square. In a
succinct 4 minutes, Reva explains why the possibility of a Brotherhood victory remains somewhat impotent
given the implicit understandings with the military (via the
constitution) but worries that the changes in the clamp-down efforts
(more aggressive) of political protests will affect political affiliates
in the Palestinian border-lands with Israel - where this weekend's
'suspiciously timed' renewed spate of attacks into Israel raises
questions of who was responsible (and for what end?). The bottom-line is
that tensions remain and the Brotherhood's links to
Hamas are a political foil for the military (or even Israel's Netanyahu)
to declare them unfit to rule.Jim,
Since I haven’t read this public information anywhere yet today, I thought I might try to cheer you up a bit. After all these years of not being able to speak of gold in public company, I am beginning to have a smile on my face.
If gold isn’t money, it sure seems to beat cash from the BIS point of view. Now it appears gold is acceptable as currency beyond sovereign currencies. Sovereign currency can’t say that! Bernanke, Munger, Gates and Buffet have some explaining to do with this public announcement today. Granted, this is only a final proposal, but it is now in documented print. It might be interesting if the bullion banks try to nix one of the zero percent RW items that require zero capital reserves, and qualifies as low RW collateral. What a fraud the media puts upon us! Frankly, they should have put Gold bullion at the top of the line.
http://www.fdic.gov/news/news/financial/2012/fil12027.html
A. Zero Percent Risk-Weighted Items
The following exposures would receive a zero percent risk weight under the proposal:
- Cash;
- Gold bullion;
- Direct and unconditional claims on the U.S. government, its central bank, or a U.S. government agency;
- Exposures unconditionally guaranteed by the U.S. government, its central bank, or a U.S. government agency;
- Claims on certain supranational entities (such as the International Monetary Fund) and certain multilateral development banking organizations
- Claims on and exposures unconditionally guaranteed by sovereign entities that meet certain criteria (as discussed below).
Q. Treatment of Collateralized Transactions
The proposal allows banking organizations to recognize the risk mitigating benefits of financial collateral in risk-weighted assets, and defines financial collateral to include:
- cash on deposit at the bank or third-party custodian;
- gold;
1. Simple approach: A banking organization may apply a risk weight to the portion of an exposure that is secured by the market value of financial collateral by using the risk weight of the collateral – subject to a risk weight floor of 20 percent. To apply the simple approach, the collateral must be subject to a collateral agreement for at least the life of the exposure; the collateral must be revalued at least every 6 months; and the collateral (other than gold) must be in the same currency.
Note: Gold does not have to be in the same currency! YES! There would be a few limited exceptions to the 20 percent risk weight floor:
- A banking organization may assign a zero percent risk weight to the collateralized portion of an exposure where:
- The financial collateral is cash on deposit; or
- The financial collateral is an exposure to a sovereign that qualifies for a zero percent risk weight (including the United States) and the banking organization has discounted the market value of the collateral by 20 percent.
CIGA Jim
Jim,
This is a very serious "chess" game that is developing here.
CIGA Peter
Britain stops Russian ship carrying attack helicopters for Syria
A Russian ship believed to be carrying helicopters and missiles for Syria has been effectively stopped in its tracks off the coast of Scotland after its insurance was cancelled at the behest of the British government. 8:34PM BST 18 Jun 2012
The British marine insurer Standard Club said it had withdrawn cover from all the ships owned by Femco, a Russian cargo line, including the MV Alaed.
"We were made aware of the allegations that the Alaed was carrying munitions destined for Syria," the company said in a statement. "We have already informed the ship owner that their insurance cover ceased automatically in view of the nature of the voyage."
British security officials confirmed they had told Standard Club that providing insurance to the shipment was likely to be a breach of European Union sanctions against the Syrian regime.
They said they were continuing to monitor the ship, which has been the subject of a fierce international row since US Secretary of State Hillary Clinton last week revealed it was adding to the arsenal of weaponry available for Mr Assad to use against rebellious Syrian towns.
"We have various ways of keeping track of this ship and that is what we are doing," a source told The Daily Telegraph.
The MV Alaed picked up its cargo of Mi25 helicopters – known as "flying tanks" – from the Russian port of Kaliningrad, where they had been sent to the state-owned manufacturer Mil’s "Factory 150" for servicing and repairs.
More…
by Jim Sinclair, JS Mineset:
My Dear Extended Family,
Of all the madness I have seen in markets over the last 50 years, today takes the cake.
My take on it is:
Mrs. Merkel can already taste the joy of being President of Euroland. Hollande is getting ready to set the stage for his growth solution to the euro mess. The entire western world economy is falling off a cliff. The West wants to bomb Syria into the dark ages but might meet Russia head on there.
Gold continues to overcome the bears.
The shorts of the euro are emboldened, but not necessarily as right as they think they are. Dollar strength has no fundamental backing, but benefits from the mirror image of the euro.
I recommend that you shut your ears to the multitude of experts, especially those on Financial TV that claim to have never been wrong.
Read More @ JSMineset.com
My Dear Extended Family,Of all the madness I have seen in markets over the last 50 years, today takes the cake.
My take on it is:
Mrs. Merkel can already taste the joy of being President of Euroland. Hollande is getting ready to set the stage for his growth solution to the euro mess. The entire western world economy is falling off a cliff. The West wants to bomb Syria into the dark ages but might meet Russia head on there.
Gold continues to overcome the bears.
The shorts of the euro are emboldened, but not necessarily as right as they think they are. Dollar strength has no fundamental backing, but benefits from the mirror image of the euro.
I recommend that you shut your ears to the multitude of experts, especially those on Financial TV that claim to have never been wrong.
Read More @ JSMineset.com
by Eric Peters, Whiskey and Gunpowder:
What does it mean to be a “good person”?One hears the term fairly often. So and so is a good person. Or the plural – they’re good people. But what is meant is rarely defined. It is accepted that we’re all talking about the same thing – but if you look at it a little bit, very often we’re not. Because many of us seem to have a view of goodness that is completely at odds with the concept of goodness as defined by others.
The liberal Democrat, for example, thinks of himself as a good person because he expresses concern for others, typically those less well-off than others. He wants to “help” – but his goodness (as he defines it) does not manifest itself via himself personally helping those he believes are in need. He does not invite the homeless into his home (or even his garage). He invites them into your home.
He does not “give” of his own time – or money. Rather, he demands that others be made to “give” of theirs. Which of course does not strike him as oxymoronic – let alone vicious. This good person will not feel bad about demanding that some be enslaved for the benefit of others – so long as the former are “deserving” (as defined by the good person) and the latter are “paying their fair share” (again, as defined by the good person).
Read More @ WhiskeyAndGunpowder.com
from TheAlexJonesChannel:
by Ron Holland, The Daily Bell:
“The Euro Titanic has now hit the iceberg and sadly there simply aren’t enough lifeboats.” – Nigel Farage, United Kingdom Independence Party
Another Greek election and an uncertain outcome will likely continue the corrupt status quo in Greece. The Greek politicians on the take by the EU interests acting like most Western politicians and the American two-party mafia monopoly will continue to steal from the Greek people and the bailouts while the nation gets poorer. We are watching a throwback to the Great Depression years of the 1930s in Europe.
American investors should study their history and get ready for a fast replay of an Internet style version of European history during 1919, 1931 and 1933 that could transpire quickly over the next year. Comparing the unsustainable sovereign debt burden today in most European nations to the German Versailles debt is a scary prospect with ominous parallels.
Read More @ TheDailyBell.com
“The Euro Titanic has now hit the iceberg and sadly there simply aren’t enough lifeboats.” – Nigel Farage, United Kingdom Independence PartyAnother Greek election and an uncertain outcome will likely continue the corrupt status quo in Greece. The Greek politicians on the take by the EU interests acting like most Western politicians and the American two-party mafia monopoly will continue to steal from the Greek people and the bailouts while the nation gets poorer. We are watching a throwback to the Great Depression years of the 1930s in Europe.
American investors should study their history and get ready for a fast replay of an Internet style version of European history during 1919, 1931 and 1933 that could transpire quickly over the next year. Comparing the unsustainable sovereign debt burden today in most European nations to the German Versailles debt is a scary prospect with ominous parallels.
Read More @ TheDailyBell.com
from KingWorldNews:
Today acclaimed money manager Stephen Leeb, told KWN, “the world is
rapidly heading toward what you would call a ‘de facto’ gold standard,”
and that we will see “shortages of silver over the next 5 to 10 years,
massive shortages.” Leeb, who is Chairman & Chief Investment
Officer of Leeb Capital Management, also told King World News that
investors are now “looking toward what I believe is going to be the
greatest bull market of our lifetime — the one in junior miners.” But
first, here is what Leeb had to say about the situation in Europe: “For
a few hours after the Greek results were announced, investors were
breathing a sigh of relief. Initially we saw a big uptick in stocks,
commodities, but gold was trading lower. Then investors realized the
elections didn’t mean a whole lot.”
“At that point you saw gold recover some, while stocks gave up the overnight enthusiasm they enjoyed in the futures markets. At the end of the day, Europe is a mess, and it is still up to the Europeans to decide what to do to get out of this situation.
Stephen Leeb continues @ KingWorldNews.com
from Matlarson10:
Today acclaimed money manager Stephen Leeb, told KWN, “the world is
rapidly heading toward what you would call a ‘de facto’ gold standard,”
and that we will see “shortages of silver over the next 5 to 10 years,
massive shortages.” Leeb, who is Chairman & Chief Investment
Officer of Leeb Capital Management, also told King World News that
investors are now “looking toward what I believe is going to be the
greatest bull market of our lifetime — the one in junior miners.” But
first, here is what Leeb had to say about the situation in Europe: “For
a few hours after the Greek results were announced, investors were
breathing a sigh of relief. Initially we saw a big uptick in stocks,
commodities, but gold was trading lower. Then investors realized the
elections didn’t mean a whole lot.”“At that point you saw gold recover some, while stocks gave up the overnight enthusiasm they enjoyed in the futures markets. At the end of the day, Europe is a mess, and it is still up to the Europeans to decide what to do to get out of this situation.
Stephen Leeb continues @ KingWorldNews.com
from Matlarson10:
from CapitalAccount:
We speak with Greek journalist, Yannis Palaiologos, from Athens on the latest from Greece and the Greek elections.
We speak with Greek journalist, Yannis Palaiologos, from Athens on the latest from Greece and the Greek elections.
from, Liberty Blitzkreig
Kind of an amusing article here. Look, I’m not trying to step on
anyone’s religious toes. I don’t care what anyone believes about
spirituality. That is your business. However, what I will say is that
organized religious institutions (I don’t care what religion) are big,
powerful bureaucracies who need to have their feet held to the fire just
like any other similarly large institutions. It is those within the
specific religions themselves that need to keep their own institutions
in line, rather than just defending them instinctively as “their team.”
Humans run these things and humans are fallible.
Key quotes:
THE DEVIL MADE THEM DO IT
Bertone branded as false the image of the Vatican as a place of intrigue and power struggles, saying: “The truth is that there is an attempt to sow division that comes from the Devil”.
Read More @ LibertyBlitzkreig.com
Kind of an amusing article here. Look, I’m not trying to step on
anyone’s religious toes. I don’t care what anyone believes about
spirituality. That is your business. However, what I will say is that
organized religious institutions (I don’t care what religion) are big,
powerful bureaucracies who need to have their feet held to the fire just
like any other similarly large institutions. It is those within the
specific religions themselves that need to keep their own institutions
in line, rather than just defending them instinctively as “their team.”
Humans run these things and humans are fallible.Key quotes:
THE DEVIL MADE THEM DO IT
Bertone branded as false the image of the Vatican as a place of intrigue and power struggles, saying: “The truth is that there is an attempt to sow division that comes from the Devil”.
Read More @ LibertyBlitzkreig.com
from EU Times:
A new report circulating in the Kremlin today prepared by the Foreign Ministry on the planned re-opening of talks
with Japan over the disputed Kuril Islands during the next fortnight
states that Russian diplomats were “stunned” after being told by their
Japanese counterparts that upwards of 40 million of their peoples were
in “extreme danger” of life threatening radiation poisoning and could
very well likely be faced with forced evacuations away from their
countries eastern most located cities… including the world’s largest
one, Tokyo.
The Kuril Islands are located in Russia’s Sakhalin Oblast region and stretch approximately 1,300 km (810 miles) northeast from Hokkaidō, Japan, to Kamchatka, Russia, separating the Sea of Okhotsk from the North Pacific Ocean. There are 56 islands and many more minor rocks. It consists of Greater Kuril Ridge and Lesser Kuril Ridge, all of which were captured by Soviet Forces in the closing days of World War II from the Japanese.
Read More @ EU Times
A new report circulating in the Kremlin today prepared by the Foreign Ministry on the planned re-opening of talks
with Japan over the disputed Kuril Islands during the next fortnight
states that Russian diplomats were “stunned” after being told by their
Japanese counterparts that upwards of 40 million of their peoples were
in “extreme danger” of life threatening radiation poisoning and could
very well likely be faced with forced evacuations away from their
countries eastern most located cities… including the world’s largest
one, Tokyo.The Kuril Islands are located in Russia’s Sakhalin Oblast region and stretch approximately 1,300 km (810 miles) northeast from Hokkaidō, Japan, to Kamchatka, Russia, separating the Sea of Okhotsk from the North Pacific Ocean. There are 56 islands and many more minor rocks. It consists of Greater Kuril Ridge and Lesser Kuril Ridge, all of which were captured by Soviet Forces in the closing days of World War II from the Japanese.
Read More @ EU Times
by James Wesley Rawles, SHTFPlan:
The world is on now on the brink of a global credit crisis that could
be far worse than the tumultuous events of 2008. The ongoing sovereign
debt crisis in the southern reaches of the Eurozone indicate that bank runs in the region will continue, and that more bank closure “holidays” will be declared. Under a bank holiday,
virtually all deposits could be frozen and irredeemable for days,
weeks, or even months. The key question is: Will this crisis spread to
the rest of Europe and then even to the United States? I urge
SurvivalBlog readers–particularly those in Europe–to be proactive, to
stay “ahead of the power curve.” While the Generally Dumb Public (GDP) wakes up some morning to hear news of a bank holiday, you will have long hence prepared yourself.
Digits Lost in the Ether–Redeemable Mañana?
Most people don’t realize that printed U.S. currency and minted coins amount to less than $800 billion, worldwide. That is just a small portion of the aggregate Money Zero Maturity (MZM) money supply that now exceeds $7 Trillion.
Read More @ SHTFPlan.com
The world is on now on the brink of a global credit crisis that could
be far worse than the tumultuous events of 2008. The ongoing sovereign
debt crisis in the southern reaches of the Eurozone indicate that bank runs in the region will continue, and that more bank closure “holidays” will be declared. Under a bank holiday,
virtually all deposits could be frozen and irredeemable for days,
weeks, or even months. The key question is: Will this crisis spread to
the rest of Europe and then even to the United States? I urge
SurvivalBlog readers–particularly those in Europe–to be proactive, to
stay “ahead of the power curve.” While the Generally Dumb Public (GDP) wakes up some morning to hear news of a bank holiday, you will have long hence prepared yourself.Digits Lost in the Ether–Redeemable Mañana?
Most people don’t realize that printed U.S. currency and minted coins amount to less than $800 billion, worldwide. That is just a small portion of the aggregate Money Zero Maturity (MZM) money supply that now exceeds $7 Trillion.
Read More @ SHTFPlan.com
by Dominique de Kevelioc de Bailleul, Beacon Equity Research:
In a lively Saturday interview on King World News,Gerald Celente began
by ridiculing the media’s propensity to jump from one hyped event to
the next during the global financial crisis, providing a unnecessary
distraction from the all-important final outlook he forecasts for
investors.
“This thing [financial system] is coming down,” Celente told KWN’s Eric King.
The outcome of the Greek election is not important, according to the founder of Trends Research Institute. What’s happening in any country is not particularly important, per se; it’s the collective symptoms of a global financial collapse that investors should focus their minds upon before considering what to do to protect their wealth.
“The entire financial system is under collapse,” Celente forcefully continued. “It’s not about the Greeks; it’s not about the Spanish; it’s not about the Italians; it’s not about the English; it’s not about the Americans; it’s not about the Chinese; it’s about everybody.”
Read More @ BeaconEquity.com
In a lively Saturday interview on King World News,Gerald Celente began
by ridiculing the media’s propensity to jump from one hyped event to
the next during the global financial crisis, providing a unnecessary
distraction from the all-important final outlook he forecasts for
investors.“This thing [financial system] is coming down,” Celente told KWN’s Eric King.
The outcome of the Greek election is not important, according to the founder of Trends Research Institute. What’s happening in any country is not particularly important, per se; it’s the collective symptoms of a global financial collapse that investors should focus their minds upon before considering what to do to protect their wealth.
“The entire financial system is under collapse,” Celente forcefully continued. “It’s not about the Greeks; it’s not about the Spanish; it’s not about the Italians; it’s not about the English; it’s not about the Americans; it’s not about the Chinese; it’s about everybody.”
Read More @ BeaconEquity.com
by Andrew Hoffman, MilesFranklin.com:
While watching the only RELIABLE news source in the United States of Censorship – the Daily Show with Jon Stewart – I came across a story that DEFINES American stupidity – particularly
from BILLIONAIRES who should know better. I’m willing to give Warren
Buffett a pass because his JOB is to lie and cheat the American public –
or Bill Gates for being unwittingly asked to speak of a topic
he knows NOTHING about (gold). However, for the “average billionaire
tycoon” NOT entrenched in the government machine, it is truly shocking to see such IDIOCY in action…
Democalypse 2012 – Cash of the Titans, Sheldon Adelson backs Romney
Sheldon Adelson, a casino mogul worth $25 billion, is CEO of Las Vegas Sands Hotel, which made a killing expanding into the Chinese market by opening casinos via his Sands Macao investment vehicle…
Sheldon Adelson – Wikipedia
Read more @ MilesFranklin.com
While watching the only RELIABLE news source in the United States of Censorship – the Daily Show with Jon Stewart – I came across a story that DEFINES American stupidity – particularly
from BILLIONAIRES who should know better. I’m willing to give Warren
Buffett a pass because his JOB is to lie and cheat the American public –
or Bill Gates for being unwittingly asked to speak of a topic
he knows NOTHING about (gold). However, for the “average billionaire
tycoon” NOT entrenched in the government machine, it is truly shocking to see such IDIOCY in action…Democalypse 2012 – Cash of the Titans, Sheldon Adelson backs Romney
Sheldon Adelson, a casino mogul worth $25 billion, is CEO of Las Vegas Sands Hotel, which made a killing expanding into the Chinese market by opening casinos via his Sands Macao investment vehicle…
Sheldon Adelson – Wikipedia
Read more @ MilesFranklin.com
by Jeff Nielson, Bullion Bulls Canada:
In Parts I and II we first looked at what a Goldilocks Economy is not, then we looked at the actual characteristics of a Goldilocks Economy. But what does Goldilocks herself really look like? She looks like the Middle Class.
As everyone knows, the entire Goldilocks fable centers around her entrance to the domicile of the Three Bears, and her quest for balance: not “too hot”, not “too cold”, but “just right”. And so it is with the Middle Class. It inherently epitomizes this Goldilocks concept, and thus it is by no means a coincidence that the Middle Class has dwindled to a minority at precisely the same time our economies are plummeting toward total collapse and bankruptcy.
At the risk of over-repetition, I will trot out the 2,000-year old maxim from Greek philosopher Plutarch:
Read More @ BullionBullsCanada.com
In Parts I and II we first looked at what a Goldilocks Economy is not, then we looked at the actual characteristics of a Goldilocks Economy. But what does Goldilocks herself really look like? She looks like the Middle Class.As everyone knows, the entire Goldilocks fable centers around her entrance to the domicile of the Three Bears, and her quest for balance: not “too hot”, not “too cold”, but “just right”. And so it is with the Middle Class. It inherently epitomizes this Goldilocks concept, and thus it is by no means a coincidence that the Middle Class has dwindled to a minority at precisely the same time our economies are plummeting toward total collapse and bankruptcy.
At the risk of over-repetition, I will trot out the 2,000-year old maxim from Greek philosopher Plutarch:
An imbalance between rich and poor is the oldest and most fatal ailment of all Republics.I’ve explained this concept in detail in previous commentaries, but for the moment I’ll simply deal with its outward appearance. A normal (healthy) economy has a wealth-distribution pattern relatively spherical in shape: a big bulge in the middle, which tapers sharply at both ends.
Read More @ BullionBullsCanada.com
from Silver Vigilante:
On Coast to Coast, George Noory asked researcher and journalist William Engdahl point blank: what do they (the elite) want:
Well, to be honest I think these are people who are, if we were to analyze them psychoanalytically, we would say they were functional psychotics. Very very sick mentally ill people who are absolutely obsessed with power, power over life on this planet in all forms…
Noory replies:
So true, they probably have so much money they are probably so bored that the only game for them in town now is manipulating the planet.
The silver market, like all markets, is to be a game preserve where silver can be gotten by the elite whenever the want. Silver demand in India has for more than a century been a concern of organizations like the Silver Users Association who wanted that silver back on the “free market” so that it could, in turn, be hoarded by the them.
Read More @ Silver Vigilante
from TrendsJournal:
On Coast to Coast, George Noory asked researcher and journalist William Engdahl point blank: what do they (the elite) want:Well, to be honest I think these are people who are, if we were to analyze them psychoanalytically, we would say they were functional psychotics. Very very sick mentally ill people who are absolutely obsessed with power, power over life on this planet in all forms…
Noory replies:
So true, they probably have so much money they are probably so bored that the only game for them in town now is manipulating the planet.
The silver market, like all markets, is to be a game preserve where silver can be gotten by the elite whenever the want. Silver demand in India has for more than a century been a concern of organizations like the Silver Users Association who wanted that silver back on the “free market” so that it could, in turn, be hoarded by the them.
Read More @ Silver Vigilante
from TrendsJournal:
from Jesse’s Café Américain:
The market rallied last night by the ‘win’ of the ‘pro-bailout’ party.
It looks as though they *might* be able to form a coalition with the
center-socialist party at least on the assumption that the bailout can
be renegotiated.
So the market came in ready for a rally that quickly evaporated, although stocks were able to finish unchanged.
The key news today is that NYSE volume was only about 600 million shares. No one with any real discretionary money is buying this ‘crisis averted’ story.
The FOMC starts a two day meeting tomorrow, and will announce their decision on Wednesday June 20.
The winners of the Greek elections will have until early Wednesday to form a practical coalition as explained earlier today.
Read More @ Jesse’s Café Américain:
CaseyResearchFAN
The market rallied last night by the ‘win’ of the ‘pro-bailout’ party.
It looks as though they *might* be able to form a coalition with the
center-socialist party at least on the assumption that the bailout can
be renegotiated.So the market came in ready for a rally that quickly evaporated, although stocks were able to finish unchanged.
The key news today is that NYSE volume was only about 600 million shares. No one with any real discretionary money is buying this ‘crisis averted’ story.
The FOMC starts a two day meeting tomorrow, and will announce their decision on Wednesday June 20.
The winners of the Greek elections will have until early Wednesday to form a practical coalition as explained earlier today.
Read More @ Jesse’s Café Américain:
CaseyResearchFAN
by Geoff Candy, MineWeb.com
Safe
haven or risk asset? Markets breathed a sigh of relief after the Greek
election result but analysts are still unsure exactly how gold is likely
to trade.
The spectacle that was the Greek election over the weekend captured markets’ attention around the world as many felt that the fate of the Euro itself hung in the hands of Greek voters.
While the reaction to the vote was largely unsurprising, it did serve to highlight the debate surrounding the frequently changing nature of gold’s role in the market.
As UBS’s Edel Tully points out, “That gold’s initial reaction in Asia was to move opposite risk, falling to a low of $1606, confirms the initial redundancy of a safe-haven bid and re-instates that gold had been acting more as a safe haven asset than a risk asset over the past week. But it is difficult to make any firm conclusions at this stage, particularly with trading conditions being extremely light. As the European session extends, gold has traded back above $1620, suggesting that investors are looking for a clearer indication of which hat gold has currently chosen to put on – safe haven or risk.”
Read More @ MineWeb.com
With continued uncertainty in major markets, as well as gold and
silver, today King World News interviewed James Turk out of Europe. Turk
discussed the aftermath of the Greek elections and what investors
should expect going forward. Here is what Turk had to say about what is
taking place: “The Greek election has come and gone, Eric, but
the Greek vote has changed nothing. Europe is still in a severe
crisis, and every attempt to solve this crisis has failed because no
serious solutions have been proposed. All the central planners did was
buy time, and that precious time has been squandered with their various
schemes.”
Fitzwilson continues @ KingWorldNews.com
The acute global economic crisis today is the direct result of the
continued wilful obstruction and overriding of the normal checks and
balances that should operate within a capitalistic system of commerce.
This interference has been perpretated by powerful banks and governments
acting in collusion, for reasons of profit and power. At every instance
in recent years when it looked like the economy was slipping into a
necessary recession they have assumed a godlike role and stepped in to
head it off. These periodic recessions are necessary to prevent excess
debt building up within the system, but the banks liked the ever growing
debt, because it meant ever bigger profits for them as they created
money out of thin air and then lent it to everyone and everything and
raked in massive interest payments. Being immensely powerful they
exerted more and more control over governments and succeeded in bending
them to their will, culminating in them “coming out” by actually maker
bankers into Presidents and Prime Ministers, as has recently occurred in
Greece and Italy. So there you have it – the world is now controlled
and governed by bankers. The problem with this situation is that their
objectives, which are the accumulation of ever greater profit and power,
are at odds with those of the population at large.
Read More @ GoldSeek.com
Safe
haven or risk asset? Markets breathed a sigh of relief after the Greek
election result but analysts are still unsure exactly how gold is likely
to trade.The spectacle that was the Greek election over the weekend captured markets’ attention around the world as many felt that the fate of the Euro itself hung in the hands of Greek voters.
While the reaction to the vote was largely unsurprising, it did serve to highlight the debate surrounding the frequently changing nature of gold’s role in the market.
As UBS’s Edel Tully points out, “That gold’s initial reaction in Asia was to move opposite risk, falling to a low of $1606, confirms the initial redundancy of a safe-haven bid and re-instates that gold had been acting more as a safe haven asset than a risk asset over the past week. But it is difficult to make any firm conclusions at this stage, particularly with trading conditions being extremely light. As the European session extends, gold has traded back above $1620, suggesting that investors are looking for a clearer indication of which hat gold has currently chosen to put on – safe haven or risk.”
Read More @ MineWeb.com
from KingWorldNews:
With continued uncertainty in major markets, as well as gold and
silver, today King World News interviewed James Turk out of Europe. Turk
discussed the aftermath of the Greek elections and what investors
should expect going forward. Here is what Turk had to say about what is
taking place: “The Greek election has come and gone, Eric, but
the Greek vote has changed nothing. Europe is still in a severe
crisis, and every attempt to solve this crisis has failed because no
serious solutions have been proposed. All the central planners did was
buy time, and that precious time has been squandered with their various
schemes.”Fitzwilson continues @ KingWorldNews.com
by Clive Maund, Gold Seek:
The acute global economic crisis today is the direct result of the
continued wilful obstruction and overriding of the normal checks and
balances that should operate within a capitalistic system of commerce.
This interference has been perpretated by powerful banks and governments
acting in collusion, for reasons of profit and power. At every instance
in recent years when it looked like the economy was slipping into a
necessary recession they have assumed a godlike role and stepped in to
head it off. These periodic recessions are necessary to prevent excess
debt building up within the system, but the banks liked the ever growing
debt, because it meant ever bigger profits for them as they created
money out of thin air and then lent it to everyone and everything and
raked in massive interest payments. Being immensely powerful they
exerted more and more control over governments and succeeded in bending
them to their will, culminating in them “coming out” by actually maker
bankers into Presidents and Prime Ministers, as has recently occurred in
Greece and Italy. So there you have it – the world is now controlled
and governed by bankers. The problem with this situation is that their
objectives, which are the accumulation of ever greater profit and power,
are at odds with those of the population at large.Read More @ GoldSeek.com
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