JPM To Be Subpoenaed Over Defunct PFG's Missing Segregated Money
The blunt trauma that JPMorgan was implicated in the missing millions from segregated accounts in Jon Corzine's bankrupt MF Global may have passed but the memory lingers, especially for all those whose cash is still locked up somewhere in vapor space. Yet one event that may tear the scab that patiently was healing, courtesy of a Copperfield market full of distractions such as JPM's CIO fiasco, Lieborgate, oh and, Europe, right off is the recent bankruptcy of Peregrine Financial, aka PFG, whose story we first broke, and which just as we suspected, has promptly become the second coming of MF Global, as at least $200 million has "evaporated." It is thus with little surprise that we find that the first party of interest is none other than JPMorgan, which together with various other banks, will be the target of a subpoena by the PFG trustee. How shocking will it be to find that Dimon's company is once again implicated in this particular episode of monetary vaporization.
by David Schectman, MilesFranklin.com:
I sense we are very close to breaking out from the nine-month
correction in gold and silver. The verdict will be in when gold tops
$1630 and then $1650. Some analysts are waiting around for gold to
cross over $1700 before they tell you to buy, but that’s waiting way too
long, in my view.
The world is awash with debt – and with money too. Even more money needs to be “created” (QE) in order to service the debt. By its very nature, money does not like to just sit around; it needs to grow, to make a profit. Whether the money is controlled by a bank or fund manager with huge amounts to invest, or by a regular guy or gal like you with a little to invest, the challenge is the same. Where do I park my money? Where can it go and both be SAFE and earn at least enough to beat inflation? It used to be that if you had lots of extra money you would buy bonds and “clip coupons.” The first time I heard that saying was in the early 1970s. Susan and I were having lunch at the Lincoln Del in St. Louis Park and we were talking with a man sitting at the table next to us.
At some point in our conversation, I asked him, “What do you do for a living?”
He replied, “I clip coupons.” In 1972 you could do that with your money. At that point in my life, I had no idea what a Zero Coupon Bond was, but his statement piqued my interest. Frankly, today, only a fool would be sitting around clipping coupons from 30-year bonds! But you could do it 40 years ago. Times have changed.
Read more @ MilesFranklin.com
I sense we are very close to breaking out from the nine-month
correction in gold and silver. The verdict will be in when gold tops
$1630 and then $1650. Some analysts are waiting around for gold to
cross over $1700 before they tell you to buy, but that’s waiting way too
long, in my view.The world is awash with debt – and with money too. Even more money needs to be “created” (QE) in order to service the debt. By its very nature, money does not like to just sit around; it needs to grow, to make a profit. Whether the money is controlled by a bank or fund manager with huge amounts to invest, or by a regular guy or gal like you with a little to invest, the challenge is the same. Where do I park my money? Where can it go and both be SAFE and earn at least enough to beat inflation? It used to be that if you had lots of extra money you would buy bonds and “clip coupons.” The first time I heard that saying was in the early 1970s. Susan and I were having lunch at the Lincoln Del in St. Louis Park and we were talking with a man sitting at the table next to us.
At some point in our conversation, I asked him, “What do you do for a living?”
He replied, “I clip coupons.” In 1972 you could do that with your money. At that point in my life, I had no idea what a Zero Coupon Bond was, but his statement piqued my interest. Frankly, today, only a fool would be sitting around clipping coupons from 30-year bonds! But you could do it 40 years ago. Times have changed.
Read more @ MilesFranklin.com
Why Another Major China Stimulus Package Is Not Coming
Some
market participants seem to be eagerly anticipating or hoping for
another stimulus in China, and each day that has passed without a big
policy announcement seems to have depressed the Chinese market further.
While the Chinese government has been very concerned about the economic
slowdown and has taken policies to support growth, UBS' Tao Wang suggests investors not be holding their breath for another big stimulus. The previous stimulus in 2008-09 did lift growth much higher than otherwise would have been, but
the excessive credit expansion also worsened the imbalance in the
economy and left serious negative consequences which are still been
dealt with today. The Chinese government has clearly recognized
this and is keen to avoid making a similar mistake this time. This is
not to say that the government has done little or will do little to
support growth; but the ride, of course, may not be pretty.The Most Often Forgotten Survival Preparations
I
think it’s safe to say with some conviction that in the year of 2012
the concept of survival prepping is NOT an alien one to most Americans.
When National Geographic decides there is a viable market for a
prepper TV show (no matter how misrepresentative of true preppers it
may be), when Walmart starts stocking shelves with long term emergency
food storage kits, when survivalism in general becomes one of the few
growing business markets in the midst of an otherwise disintegrating
economy; you know that the methodology has gone “mainstream”. There is
a noticeable and expanding concern amongst Americans that we are,
indeed, on the verge of something new and unfortunate. Is it the big
bad hoodoo of the soon to expire Mayan Calendar? For a few, maybe, but
for the majority of us, no. That jazz is a carnival sideshow designed
to make the prepping culture appear ridiculous. We don’t need to
believe in magical prophecies to know that there is a catastrophic road
ahead; all we have to do is look at the stark realities of our current
circumstances. It does not take much awareness anymore to notice
looming fiscal volatility, social unrest, the potential for unrestrained
war, and the totalitarian boldness of our government. I’ll take the
wrath of Quetzalcoatl any day over the manure storm that is approaching
us currently.China PMI Misses And Prints Lowest In 8 Months With 10 Of 11 Sub-Indices Contracting
UPDATE: China's HSBC PMI came at 49.3 (slightly below the Flash print) but up from last month
The seemingly exuberant levels of the China Manufacturing PMI data when compared to HSBC's Manufacturing PMI have largely disappeared now as the two are the closest together in 9 months. As China's PMI drops to its lowest print in 8 months at 50.1 (less than the expected 50.5), we note that 10 of the 11 sub-indices (including employment and new orders) are all lower and now in contraction mode. Only the Output sub-index remains above 50 (in the if-we-build-it-they-will-come period). New Export Orders also fell notably. Of course having learned their lesson with the unintended consequences of their last major stimulus effort, we suspect the PBoC will be a little more careful with the method to resuscitate this time.
Jeremy Grantham: "I, For One, Wish That The World Would Get On With Whatever Is Coming Next"
"The economic environment seems to be stuck in a rather unpleasant perpetual loop. Greece is always about to default; the latest bailout is always about to save the day and yet never seems to; China is always about to collapse but instead teases us by inching down; and I swear the Financial Times is beginning to recycle its reports! In the U.S., the fiscal cliff looms along with debt limits and the usual election uncertainties. The dysfunctional U.S. Congress continues for the time being in its intractable ways. The stock market rises and falls and rises and falls again. It is getting difficult to find anything new to say at client meetings. I, for one, wish that the world would get on with whatever is coming next."The European Tinder Box
We wonder if harsh economic realities could transcend generally accepted logic.
The common perception of unravelling events relies, by and large, on
politicians remaining in close control of events and in particular in
tight control of their societies. There are more than 18 million people
unemployed in Europe today and, for as long Europe’s political class
stays on its current course, that unemployed rate will climb and
climb. That’s a really bad state of affairs; indeed, it’s
life-threatening. Eventually, we judge that the smouldering European tinder box will burst forth in to flame and thence on to conflagration.
It's this 'direct action' by angry citizens that would scupper the
controlled, totalitarian formation of a European superstate. Europe is on the verge of being raped and our own politicians don’t know where to look, still less what to do.Take Our Guns? Over our Dead Bodies!
07/31/2012 - 18:21
by Marc Chandler, Also Sprach Analyst:
The ECB’s Draghi expressed an appreciation for the urgency facing the euro area,
but he seems more isolated than he did last week when Merkel and
Hollande reiterated their willingness to do what was necessary.
Even though the euro fell more than a 1.5 cents from its pre-weekend high just below $1.24, Spanish bond yields have continued to retreat. The 10-year benchmark is now about 100 bp below the level seen early last week and the 2-year yield is off about 200 bp.
The market is pricing in a resumption of the ECB sovereign bond purchases (SMP). Yet in the past purchases by the ECB did not seem to have much lasting impact as yields and spreads continued to widen after some short-term and mostly limited reaction. The decline in Spanish yields will be tested Thursday just before the ECB meeting when Spain will raise 2.4-3.7 bln euros of 2, 4, and 10 year bonds.
Read More @ AlsoSprachAnalyst.com
The ECB’s Draghi expressed an appreciation for the urgency facing the euro area,
but he seems more isolated than he did last week when Merkel and
Hollande reiterated their willingness to do what was necessary.Even though the euro fell more than a 1.5 cents from its pre-weekend high just below $1.24, Spanish bond yields have continued to retreat. The 10-year benchmark is now about 100 bp below the level seen early last week and the 2-year yield is off about 200 bp.
The market is pricing in a resumption of the ECB sovereign bond purchases (SMP). Yet in the past purchases by the ECB did not seem to have much lasting impact as yields and spreads continued to widen after some short-term and mostly limited reaction. The decline in Spanish yields will be tested Thursday just before the ECB meeting when Spain will raise 2.4-3.7 bln euros of 2, 4, and 10 year bonds.
Read More @ AlsoSprachAnalyst.com
by Patrick A. Heller, Numismaster.com:
There are some indicators that August could bring a sudden demand for physical gold and silver coins and bars. This shift in demand could be strong enough that it would quickly deplete wholesale and retail supplies of bullion-priced products. To the extent that this occurs, that would almost certainly increase demand for the lower-premium pre-1934 U.S. gold coins as happened during the bullion coin buying frenzy in late 2008.
What could spark such a surge in demand that people would even consider purchasing older U.S. gold coins and Morgan and Peace dollars?
My friend Bill Murphy, the chairman of the Gold Anti-Trust Action Committee (www.gata.org) passed along news that in the past three weeks he has received the same information from three independent and usually reliable sources. The news is that the LIBOR scandal investigations that have mostly focused on Barclays bank thus far are expanding.
Read More @ Numismaster.com
There are some indicators that August could bring a sudden demand for physical gold and silver coins and bars. This shift in demand could be strong enough that it would quickly deplete wholesale and retail supplies of bullion-priced products. To the extent that this occurs, that would almost certainly increase demand for the lower-premium pre-1934 U.S. gold coins as happened during the bullion coin buying frenzy in late 2008.
What could spark such a surge in demand that people would even consider purchasing older U.S. gold coins and Morgan and Peace dollars?
My friend Bill Murphy, the chairman of the Gold Anti-Trust Action Committee (www.gata.org) passed along news that in the past three weeks he has received the same information from three independent and usually reliable sources. The news is that the LIBOR scandal investigations that have mostly focused on Barclays bank thus far are expanding.
Read More @ Numismaster.com
from Current:
Neil Barofsky, author of Bailout and former TARP overseer says that as a Bush appointee and lifelong Democrat, he hoped the Obama administration would stop the power financial institutions wielded in D.C., but instead there was more of the same. “There was almost no noticeable change when it came to the administration when it came to that deference to Wall Street,” Barofsky says.
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Neil Barofsky, author of Bailout and former TARP overseer says that as a Bush appointee and lifelong Democrat, he hoped the Obama administration would stop the power financial institutions wielded in D.C., but instead there was more of the same. “There was almost no noticeable change when it came to the administration when it came to that deference to Wall Street,” Barofsky says.
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by Patrick J. Buchanan, Lew Rockwell:
Has Mitt Romney given Israel a blank check for war?
So it seemed from the declaration in Jerusalem by his adviser Dan Senor, who all but flashed Israel a green light for war, signaling the Israelis that, if you go, Mitt’s got your back:
“If Israel has to take action on its own in order to stop Iran from developing that capability, the governor would respect that decision.”
“No option would be excluded. Gov. Romney recognizes Israel’s right to defend itself and that it is right for America to stand with it.”
What does “stand with” Israel, if she launches a surprise attack on Iran, mean? Does it mean the United States will guide Israeli planes to their targets and provide bases on their return? Does it mean U.S. air cover while Israeli planes strike Iran?
Read More @ LewRockwell.com
from Matlarson10:
from Brandon Turbeville, Activist Post
In a rare instance of real journalism, ABC news aired a report
on the increasing number of foreign workers being contracted and
imported into the United States for the purpose of rebuilding U.S.
infrastructure.
Has Mitt Romney given Israel a blank check for war?
So it seemed from the declaration in Jerusalem by his adviser Dan Senor, who all but flashed Israel a green light for war, signaling the Israelis that, if you go, Mitt’s got your back:
“If Israel has to take action on its own in order to stop Iran from developing that capability, the governor would respect that decision.”
“No option would be excluded. Gov. Romney recognizes Israel’s right to defend itself and that it is right for America to stand with it.”
What does “stand with” Israel, if she launches a surprise attack on Iran, mean? Does it mean the United States will guide Israeli planes to their targets and provide bases on their return? Does it mean U.S. air cover while Israeli planes strike Iran?
Read More @ LewRockwell.com
from Matlarson10:
from Brandon Turbeville, Activist Post
In a rare instance of real journalism, ABC news aired a report
on the increasing number of foreign workers being contracted and
imported into the United States for the purpose of rebuilding U.S.
infrastructure.
It is part of a trend in globalization that sees an increasing Chinese presence in the United States, including everything from banking to outright purchase of U.S. cities to planting Chinese flags on U.S. soil to GM effectively becoming China Motors to buying up U.S. oil and gas deposits.
Indeed, ABC journalist Chris Cuomo of the Bringing America Back
division of ABC News has reported that, out of the various different
infrastructure repair projects being undertaken in the United States, a
sizeable portion of those projects have been outsourced to foreign
companies, particularly Chinese firms, who have then imported their own
workers for the projects.
Read More @ Activist Post
Read More @ Activist Post
by Jeff Nielson, SilverGoldBull:
While this news item out of Iran is technically not a “bullion story”, bank-fraud most definitely is related to why we own bullion, with the latest and most notable example of bank-fraud being the unimaginably huge $350 trillion LIBOR-rigging fraud by the Western banking cabal. With that in mind, let’s note a few facts – and (shall we say) “inconsistencies”?
1) The death sentences in Iran concerned bank-fraud which totaled $2.6 billion in size, or less than 1/100,000th the total size of the LIBOR-fraud.
2) Western governments and their pretend-regulators have demonstrated total unwillingness to do anything to even slow down Western bank fraud – let alone put a halt to it. Indeed the banksters are now proclaiming their fraud to be “too big to fail.”
3) The United States alone among (supposedly) civilized nations continues to engage in “capital punishment”; and has no qualms about executing poor, non-white males in large numbers.
With the addition of those facts, I offer the following open question to readers: how many “death sentences” would the U.S. government need to hand-out for Wall Street fraud, before these banksters decided that crime was no longer a way of life…?
Read More @ SilverGoldBull
While this news item out of Iran is technically not a “bullion story”, bank-fraud most definitely is related to why we own bullion, with the latest and most notable example of bank-fraud being the unimaginably huge $350 trillion LIBOR-rigging fraud by the Western banking cabal. With that in mind, let’s note a few facts – and (shall we say) “inconsistencies”?1) The death sentences in Iran concerned bank-fraud which totaled $2.6 billion in size, or less than 1/100,000th the total size of the LIBOR-fraud.
2) Western governments and their pretend-regulators have demonstrated total unwillingness to do anything to even slow down Western bank fraud – let alone put a halt to it. Indeed the banksters are now proclaiming their fraud to be “too big to fail.”
3) The United States alone among (supposedly) civilized nations continues to engage in “capital punishment”; and has no qualms about executing poor, non-white males in large numbers.
With the addition of those facts, I offer the following open question to readers: how many “death sentences” would the U.S. government need to hand-out for Wall Street fraud, before these banksters decided that crime was no longer a way of life…?
Read More @ SilverGoldBull
from Silver Doctors:
After yesterday’s 9 silver inventory movements and 2.5 million ounce withdrawal from Brink’s vaults, inventory volatility continued in COMEX vaults Monday, as another 320,000 ounces were withdrawn from Brink’s, and HSBC adjusted nearly 5,000 ounces out of registered vaults.
While the CME is now reporting inventory levels to 3 decimal places, strangely enough- once again, NO MENTION FROM THE CME OF THE MISSING 1.4 MILLION OUNCES OF REGISTERED SILVER THAT SIMPLY DISAPPEARED IN THE AFTERMATH OF THE MF GLOBAL BANKRUPTCY!
As a strangely coincidental supply turned up in JPMorgan vaults almost simultaneously as the MFGlobal clients phyzz went missing, until the CME provides an update of what happened to this stolen inventory, The Doc will continue to provide the latest available info on this from the CME:
Read More @ Silver Doctors
After yesterday’s 9 silver inventory movements and 2.5 million ounce withdrawal from Brink’s vaults, inventory volatility continued in COMEX vaults Monday, as another 320,000 ounces were withdrawn from Brink’s, and HSBC adjusted nearly 5,000 ounces out of registered vaults.
While the CME is now reporting inventory levels to 3 decimal places, strangely enough- once again, NO MENTION FROM THE CME OF THE MISSING 1.4 MILLION OUNCES OF REGISTERED SILVER THAT SIMPLY DISAPPEARED IN THE AFTERMATH OF THE MF GLOBAL BANKRUPTCY!
As a strangely coincidental supply turned up in JPMorgan vaults almost simultaneously as the MFGlobal clients phyzz went missing, until the CME provides an update of what happened to this stolen inventory, The Doc will continue to provide the latest available info on this from the CME:
Read More @ Silver Doctors
by Richard Leiby, The Washington Post:
Pakistan will allow NATO supply convoys
to cross its territory into Afghanistan until the end of 2015, one year
beyond the deadline for withdrawal of U.S. combat forces there, under
an agreement signed Tuesday by U.S. and Pakistani officials.
The pact seems to close, for now, one of the most contentious chapters in the turbulent relationship between Washington and Islamabad, cementing cooperation by Pakistan in winding down the war in Afghanistan, at least in terms of logistical assistance. Washington also has urged Islamabad to step up its participation in the peace process by bringing to the negotiating table militant groups that shelter in Pakistani’s tribal belt and regularly cross the border to attack NATO troops.
The memorandum of understanding signed Tuesday provides the option for both sides to extend the deal in one-year increments beyond Dec. 31, 2015. It would apply to other NATO nations if they sign separate pacts with Pakistan.
Although Pakistan ended its seven-month blockade of NATO supplies in early July, the pact formalizes some key details, including a ban on transporting lethal equipment unless it is meant for Afghan security forces. It also says that Pakistan will provide security for the thousands of container trucks and oil tankers whose routes originate at the port of Karachi.
Read More @ The Washington Post.com
Pakistan will allow NATO supply convoys
to cross its territory into Afghanistan until the end of 2015, one year
beyond the deadline for withdrawal of U.S. combat forces there, under
an agreement signed Tuesday by U.S. and Pakistani officials.The pact seems to close, for now, one of the most contentious chapters in the turbulent relationship between Washington and Islamabad, cementing cooperation by Pakistan in winding down the war in Afghanistan, at least in terms of logistical assistance. Washington also has urged Islamabad to step up its participation in the peace process by bringing to the negotiating table militant groups that shelter in Pakistani’s tribal belt and regularly cross the border to attack NATO troops.
The memorandum of understanding signed Tuesday provides the option for both sides to extend the deal in one-year increments beyond Dec. 31, 2015. It would apply to other NATO nations if they sign separate pacts with Pakistan.
Although Pakistan ended its seven-month blockade of NATO supplies in early July, the pact formalizes some key details, including a ban on transporting lethal equipment unless it is meant for Afghan security forces. It also says that Pakistan will provide security for the thousands of container trucks and oil tankers whose routes originate at the port of Karachi.
Read More @ The Washington Post.com
from KingWorldNews:
With market participants eagerly awaiting decisions by both the Fed
and the ECB, today King World News interviewed 25 year veteran Caesar
Bryan over at Gabelli & Company, which has over $31 billion under
management. Here is what Ceasar had to say regarding the upcoming
central bank meetings and their impact on key markets: “Clearly
it’s the week for central banks. The market is waiting to see what the
Fed does tomorrow. There is also anticipation as to what action the
ECB is going take this week as well. The market will certainly test the
European’s resolve. Draghi came out and claimed that they would do
whatever it took to save the euro.”
Caesar Bryan continues @ KingWorldNews.com
With market participants eagerly awaiting decisions by both the Fed
and the ECB, today King World News interviewed 25 year veteran Caesar
Bryan over at Gabelli & Company, which has over $31 billion under
management. Here is what Ceasar had to say regarding the upcoming
central bank meetings and their impact on key markets: “Clearly
it’s the week for central banks. The market is waiting to see what the
Fed does tomorrow. There is also anticipation as to what action the
ECB is going take this week as well. The market will certainly test the
European’s resolve. Draghi came out and claimed that they would do
whatever it took to save the euro.”Caesar Bryan continues @ KingWorldNews.com
by Mike Shedlock, Global Economic Analysis:
So far it’s been nothing but hot air and no action from ECB president
Mario Draghi after he pledged to do whatever it takes to save the euro.
One of the highly-touted ideas as of late has been a ESM banking license. However, the idea is not really new, and has been shot down repeatedly already. Nonetheless eurocrats like Jean-Claude Juncker, chairman of the eurogroup, keep bringing the idea up as if the answer will change.
It won’t. Bloomberg reports Merkel Allies Harden Opposition to Granting ESM Bank License
So far it’s been nothing but hot air and no action from ECB president
Mario Draghi after he pledged to do whatever it takes to save the euro.One of the highly-touted ideas as of late has been a ESM banking license. However, the idea is not really new, and has been shot down repeatedly already. Nonetheless eurocrats like Jean-Claude Juncker, chairman of the eurogroup, keep bringing the idea up as if the answer will change.
It won’t. Bloomberg reports Merkel Allies Harden Opposition to Granting ESM Bank License
German Chancellor Angela Merkel’s coalition rejected granting the permanent euro rescue fund access to European Central Bank liquidity via a banking license, as the Finance Ministry said it saw no need for any such move.
The rules of the European Stability Mechanism don’t provide for refinancing through the ECB, the ministry in Berlin said today in an e-mailed response to questions. The ministry isn’t holding talks on the topic nor are secret meetings taking place on such proposals, it said.
Read More @ GlobalEconomicAnalysis.blogspot.com
by Brandon Smith, SHTFPlan:
I think it’s safe to say with some conviction that in the year of 2012 the concept of survival prepping is NOT an alien one to most Americans. When National Geographic decides there is a viable market for a prepper TV show (no matter how misrepresentative of true preppers it may be), when Walmart starts stocking shelves with long term emergency food storage kits, when survivalism in general becomes one of the few growing business markets in the midst of an otherwise disintegrating economy; you know that the methodology has gone “mainstream”. There is a noticeable and expanding concern amongst Americans that we are, indeed, on the verge of something new and unfortunate.
Is it the big bad hoodoo of the soon to expire Mayan Calendar? For a few, maybe, but for the majority of us, no. That jazz is a carnival sideshow designed to make the prepping culture appear ridiculous. We don’t need to believe in magical prophecies to know that there is a catastrophic road ahead; all we have to do is look at the stark realities of our current circumstances. It does not take much awareness anymore to notice looming fiscal volatility, social unrest, the potential for unrestrained war, and the totalitarian boldness of our government. I’ll take the wrath of Quetzalcoatl any day over the manure storm that is approaching us currently.
With some estimating a count of 3 million prepper families and growing in the U.S., the motto of “beans, bullets, and band-aids” is finding a home amongst legions. However, being closely involved in the survivalist movement during the past six years and speaking with literally thousands of preppers, it has become clear to me that we still have a long journey ahead of us before we can claim true efficiency and mastery.
Read More @ SHTFPlan.com
I think it’s safe to say with some conviction that in the year of 2012 the concept of survival prepping is NOT an alien one to most Americans. When National Geographic decides there is a viable market for a prepper TV show (no matter how misrepresentative of true preppers it may be), when Walmart starts stocking shelves with long term emergency food storage kits, when survivalism in general becomes one of the few growing business markets in the midst of an otherwise disintegrating economy; you know that the methodology has gone “mainstream”. There is a noticeable and expanding concern amongst Americans that we are, indeed, on the verge of something new and unfortunate.
Is it the big bad hoodoo of the soon to expire Mayan Calendar? For a few, maybe, but for the majority of us, no. That jazz is a carnival sideshow designed to make the prepping culture appear ridiculous. We don’t need to believe in magical prophecies to know that there is a catastrophic road ahead; all we have to do is look at the stark realities of our current circumstances. It does not take much awareness anymore to notice looming fiscal volatility, social unrest, the potential for unrestrained war, and the totalitarian boldness of our government. I’ll take the wrath of Quetzalcoatl any day over the manure storm that is approaching us currently.
With some estimating a count of 3 million prepper families and growing in the U.S., the motto of “beans, bullets, and band-aids” is finding a home amongst legions. However, being closely involved in the survivalist movement during the past six years and speaking with literally thousands of preppers, it has become clear to me that we still have a long journey ahead of us before we can claim true efficiency and mastery.
Read More @ SHTFPlan.com
from CapitalAccount:
Welcome to Capital Account. The FOMC’s two day meeting starts today and the ECB will meet later this week, amid the heightened expectations that the central banks are moving toward new actions. But, according to the Wall Street Journal, doubts linger as to whether central banks even have the tools to fix the economic problems they face. A lot of the money the Fed has tried to pump into the economy has wound up right back at the Fed. We will talk to Mike Maloney about what the Fed’s actions mean for the lives of average people.
And Bill Gross, co-founder of PIMCO, wrote that the cult of equity may be dying. However, the cult of inflation may have only just begun. We will talk to Mike Maloney, founder of GoldSilver.com, about the occult.
Also, US home prices rose in May for the fourth month in a row, according to the S&P Case Shiller data out today. We will talk to Mike Maloney, author of “Guide to Investing in Gold and Silver,” and see how this fits in with the other data pointing to a slowdown in the US economy.
Welcome to Capital Account. The FOMC’s two day meeting starts today and the ECB will meet later this week, amid the heightened expectations that the central banks are moving toward new actions. But, according to the Wall Street Journal, doubts linger as to whether central banks even have the tools to fix the economic problems they face. A lot of the money the Fed has tried to pump into the economy has wound up right back at the Fed. We will talk to Mike Maloney about what the Fed’s actions mean for the lives of average people.
And Bill Gross, co-founder of PIMCO, wrote that the cult of equity may be dying. However, the cult of inflation may have only just begun. We will talk to Mike Maloney, founder of GoldSilver.com, about the occult.
Also, US home prices rose in May for the fourth month in a row, according to the S&P Case Shiller data out today. We will talk to Mike Maloney, author of “Guide to Investing in Gold and Silver,” and see how this fits in with the other data pointing to a slowdown in the US economy.
by J. D. Heyes, Natural News:
One of the elements of Obamacare critics have been most vocal about is
the so-called government-sponsored “insurance pools” the law creates.
Now that it’s largely been upheld by the U.S. Supreme Court, these pools
will soon become a reality.
So what? That’s the basis of the law, to provide insurance for everyone, correct?
Yes, but not necessarily the type of insurance you want. Or that you have now, say, through your employer.
One of the law’s selling points uttered by everyone in the administration paid to defend it, especially the president himself, promised Americans they could keep their current health insurance.
In his Weekly Address on August 15, 2009, Obama said of his health care proposal, “First, no matter what you’ve heard, if you like your doctor or healthcare plan, you can keep it.”
That was then. By July 2012, the administration was singing a different tune, admitting that, “as a practical matter, a majority of group health plans will lose their grandfather status by 2013.”
Read More @ NaturalNews.com
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One of the elements of Obamacare critics have been most vocal about is
the so-called government-sponsored “insurance pools” the law creates.
Now that it’s largely been upheld by the U.S. Supreme Court, these pools
will soon become a reality.So what? That’s the basis of the law, to provide insurance for everyone, correct?
Yes, but not necessarily the type of insurance you want. Or that you have now, say, through your employer.
One of the law’s selling points uttered by everyone in the administration paid to defend it, especially the president himself, promised Americans they could keep their current health insurance.
In his Weekly Address on August 15, 2009, Obama said of his health care proposal, “First, no matter what you’ve heard, if you like your doctor or healthcare plan, you can keep it.”
That was then. By July 2012, the administration was singing a different tune, admitting that, “as a practical matter, a majority of group health plans will lose their grandfather status by 2013.”
Read More @ NaturalNews.com
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