Spain Agrees To "Unconditonal" Bank Bailout
Live Webcast Of De Guindos Bank Bailout Announcement
Spain's
economy minister Luis de Guindos will hold a press conference
detailing the terms of the bank bailout shortly. It can be watched live,
and without translation, at the link below. In summary, the Spanish
bank bailout is apparently a loan targeting the FROB, and at rates
better than the market. In other words, the cramdown of Spanish bondholders has officially begun.If The Spanish Bank Bailout Came To The United States...
For
those curious what the latest and greatest estimate of the Spanish
bank bailout, which at last count was €100 billion and growing fast,
would look like in US terms, here is a rough and dirty comparison of the
scale we are taking about here...Eurogroup Statement On Spanish Bank Bailout
The Eurogroup supports the efforts of the Spanish authorities to resolutely address the restructuring of its financial sector and it welcomes their intention to seek financial assistance from euro area Member States to this effect. The Eurogroup has been informed that the Spanish authorities will present a formal request shortly and is willing to respond favourably to such a request....Spain is Officially Beyond Saving... Get Prepared NOW!
06/09/2012 - 11:33
Gold Chart and Comments
Trader Dan at Trader Dan's Market Views - 2 hours ago
I have provided an 8 hour gold chart today as it provides a very good
glimpse into the technical composition of that market's recent price action.
Note that you can clearly see the solid zone of buying support extending
from just slightly above the $1550 level on down towards $1520. It has been
at these levels that strong buying has continued to emerge over the last
month. I suspect that it is in this zone that Asian Central Banks are
gobbling up the metal. Remember, they will not chase the metal higher -
only the hedge fund managers buy high and hope to buy even higher before
selli... more »
from Silver Doctors:
The Doc interviews Eric Sprott about the European debt contagion, the
latest gold and silver massacre, the massive rush into physical metals,
and his outlook on gold and silver for the rest of 2012 and beyond.part 2
The International Mother F***ers, as thinkers high on the fumes of
spray paint have re-branded the global mafioso institution, recently
published its statement on its New Zealand Mission.
In it, the global institution states that the New Zealand economy is
growing at a modest pace and should continue to do so as reconstruction
efforts in the wake of recent earthquakes continue. (Perhaps, in 2050,
we will read – assuming we will be permitted to read – IMF statements in
which the contrivance of natural disasters will spur employment and
growth.)Such statements by the IMF should not take rocket-science to draft up, considering the same plague is effecting virtually each nation in the world, especially the U.S., the Commonwealth and Europe, as high household debt eats the prospect of consumption as households are forced “to save to strengthen their balance sheets.” Read “save” as a euphemism for paying off debt.
Read More @ Silver Vigilante
from Tom Palmieri:
The Truth In Politics Act is brought forth by a bi-partisan group of Americans who are tired of the lies and half truths of our politicians that are meant to deceive and divide our nation. This Act is to become a Bill and ultimately a law that will prevent and penalize those candidates and encumbents who knowingly use deception to gain votes for elected office. We think it is only fair that if corporations can be sued for false advertising, so then should our elected officials!
Today’s Items:
Finally, Please prepare now for the escalating economic and social unrest. Good Day
Dear CIGAs,
Where Is the Outrage? by Andrew P. Napolitano
For the past few weeks, I have been writing in this column about the government’s use of drones and challenging their constitutionality on Fox News Channel where I work. I once asked on air what Thomas Jefferson would have done if – had drones existed at the time – King George III had sent drones to peer inside the bedroom windows of Monticello. I suspect that Jefferson and his household would have trained their muskets on the drones and taken them down. I offer this historical anachronism as a hypothetical only, not as one who is urging the use of violence against the government.
Nevertheless, what Jeffersonians are among us today? When drones take pictures of us on our private property and in our homes, and the government uses the photos as it wishes, what will we do about it? Jefferson understood that when the government assaults our privacy and dignity, it is the moral equivalent of violence against us. The folks who hear about this, who either laugh or groan, cannot find it humorous or boring that their every move will be monitored and photographed by the government.
Don’t believe me that this is coming? The photos that the drones will take may be retained and used or even distributed to others in the government so long as the "recipient is reasonably perceived to have a specific, lawful governmental function" in requiring them. And for the first time since the Civil War, the federal government will deploy military personnel inside the United States and publicly acknowledge that it is deploying them "to collect information about U.S. persons."
It gets worse. If the military personnel see something of interest from a drone, they may apply to a military judge or "military commander" for permission to conduct a physical search of the private property that intrigues them. And, any "incidentally acquired information" can be retained or turned over to local law enforcement. What’s next? Prosecutions before military tribunals in the U.S.?
More…
As Europe peers into economic chasm, Africa’s economy is rising
Reports by the African Development Bank, World Bank, and McKinsey show how Africa continues to offer a bright spot in the global economy. By Scott Baldauf, Staff writer / June 9, 2012
It’s a continent with a long history of war, famine, disease, and recently, a penchant for political instability due to economic mismanagement.
But enough about Europe. Let’s talk about a continent with some hope: Africa.
In 2012, as the rest of the world slows down because past exuberant consumerism and speculative investment – or debt, as they used to call it – Africa is expected to grow by 4.5 percent or 4.9 percent, depending on whether you believe the African Development Bank or the World Bank, respectively.
This growth is due, in part, to African natural resources being dug up, chopped down, or pumped out and sold to global consumers who still have cash – mainly China, India, Brazil, and Russia – and it is also due to the growth of African middle-class consumption. Yes, read that again: African middle-class consumption. According to McKinsey & Company, there is an African middle class; and although they are scattered over 54 different countries, and speak many different languages, they are at least as large as the Indian middle class, and they spend money like middle-class people everywhere do.
More…
The Truth In Politics Act is brought forth by a bi-partisan group of Americans who are tired of the lies and half truths of our politicians that are meant to deceive and divide our nation. This Act is to become a Bill and ultimately a law that will prevent and penalize those candidates and encumbents who knowingly use deception to gain votes for elected office. We think it is only fair that if corporations can be sued for false advertising, so then should our elected officials!
Today’s Items:
First…
George Soros Speech On Euro Financial Crisis
http://www.ibtimes.com
http://www.businessinsider.com
http://www.telegraph.co.uk
George Soros Speech On Euro Financial Crisis
http://www.ibtimes.com
http://www.businessinsider.com
http://www.telegraph.co.uk
First, George Soros, as some may remember,
has a history of saying one thing and doing another. One only need look
at his shorting of the UK pound and his gold bubble statements as
evidence of this. Anyway, this bastard may be correct in the demise of
the Euro which lies simply with the fact that divergent economies using
the same currency cannot stand.
Jim Sinclair is stating that the end of
the global economy is not near, but it is here. That means of course
that the time for gold and silver prices to hit the roof is also very
close. He has observed that people are behaving like a flock of
disturbed sheep. Don’t be one of them… After preparing, keep stacking
physical.
With the help of an anonymous source, who
has been providing un-released documents in Fast and Furious,
Representative Issa has been bitch-slapping Eric Holder. Holder, and his
gang of criminals in the Department of Injustice are calling this a
mole, while Issa is calling his source a whistle blower, which is
protected under the law.
Like Romney, Obama is showing his contempt
and disdane for the average American. He claims that the they created
4.3 million jobs over the last 27 months and 800,000 just this year
alone. It is really amazing how out of touch this guy is with reality.
Of course, this clown only cares about growing big government and has no
idea what happens in the Private Sector or how it works.
According to sources, Chinese companies
apparently have a covert capability to remotely access communications
technology sold to Western countries and could “disable a country’s
telecommunications infrastructure before a military engagement. Great!
So, if it says Made in China, then it is controlled by China? Time to
buy American… Wait, they are out of business.
Here are a few…
1. Poverty rate for children living in the United States is a whopping 22 percent.
2. Official unemployment has been greater than 8 percent for more than 40 months in a row.
3. 48 percent of all Americans are either considered to be “low income” or are living in poverty.
4. The average American must work 107 days just to make enough money to pay local, state and federal taxes.
1. Poverty rate for children living in the United States is a whopping 22 percent.
2. Official unemployment has been greater than 8 percent for more than 40 months in a row.
3. 48 percent of all Americans are either considered to be “low income” or are living in poverty.
4. The average American must work 107 days just to make enough money to pay local, state and federal taxes.
Dear CIGAs,
Did you ever see the movie, "Enemy of the State?" If not, see it and learn.
Well, it does not matter as all citizens of the USA are now considered enemies of the state it would seem.
Andrew, sheeple are never outraged. Like my sheep, the grain pellets are all they long for.
The nice thing about Tanzania is the only drones they have are
cardboard and come in a plastic wrapper for a few shillings. In fact
they do not care about you as long as you do not become too much of a
nuisance to the locals.
Where Is the Outrage? by Andrew P. Napolitano
For the past few weeks, I have been writing in this column about the government’s use of drones and challenging their constitutionality on Fox News Channel where I work. I once asked on air what Thomas Jefferson would have done if – had drones existed at the time – King George III had sent drones to peer inside the bedroom windows of Monticello. I suspect that Jefferson and his household would have trained their muskets on the drones and taken them down. I offer this historical anachronism as a hypothetical only, not as one who is urging the use of violence against the government.
Nevertheless, what Jeffersonians are among us today? When drones take pictures of us on our private property and in our homes, and the government uses the photos as it wishes, what will we do about it? Jefferson understood that when the government assaults our privacy and dignity, it is the moral equivalent of violence against us. The folks who hear about this, who either laugh or groan, cannot find it humorous or boring that their every move will be monitored and photographed by the government.
Don’t believe me that this is coming? The photos that the drones will take may be retained and used or even distributed to others in the government so long as the "recipient is reasonably perceived to have a specific, lawful governmental function" in requiring them. And for the first time since the Civil War, the federal government will deploy military personnel inside the United States and publicly acknowledge that it is deploying them "to collect information about U.S. persons."
It gets worse. If the military personnel see something of interest from a drone, they may apply to a military judge or "military commander" for permission to conduct a physical search of the private property that intrigues them. And, any "incidentally acquired information" can be retained or turned over to local law enforcement. What’s next? Prosecutions before military tribunals in the U.S.?
More…
As Europe peers into economic chasm, Africa’s economy is rising
Reports by the African Development Bank, World Bank, and McKinsey show how Africa continues to offer a bright spot in the global economy. By Scott Baldauf, Staff writer / June 9, 2012
It’s a continent with a long history of war, famine, disease, and recently, a penchant for political instability due to economic mismanagement.
But enough about Europe. Let’s talk about a continent with some hope: Africa.
In 2012, as the rest of the world slows down because past exuberant consumerism and speculative investment – or debt, as they used to call it – Africa is expected to grow by 4.5 percent or 4.9 percent, depending on whether you believe the African Development Bank or the World Bank, respectively.
This growth is due, in part, to African natural resources being dug up, chopped down, or pumped out and sold to global consumers who still have cash – mainly China, India, Brazil, and Russia – and it is also due to the growth of African middle-class consumption. Yes, read that again: African middle-class consumption. According to McKinsey & Company, there is an African middle class; and although they are scattered over 54 different countries, and speak many different languages, they are at least as large as the Indian middle class, and they spend money like middle-class people everywhere do.
More…
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