by Susanne Posel, Occupy Corporatism:
In June of 2012, Eric Bloom, former chief executive, and Charles Mosely, head trader of Sentinel Management Group (SMG) were indicted
for stealing $500 million in customer secured funds. Both Mosely and
Bloom were accused of “exposing” customer segregated funds “to a
portfolio of highly risky derivatives.”
These customer funds were used to “back up personal investments” which were part of “collateral for a loan from Bank of New York Mellon” (BNYM). This loan derived from stolen customer monies was “used to purchase millions of dollars worth of high-risk, illiquid securities, including collateralized debt obligations, or CDOs, for a trading portfolio that benefited Sentinel’s officers, including Mosley, Bloom and certain Bloom family members.”
Fast forward to August 9th of 2012, and the 7th Circuit Court of Appeals (CCA) rules that BNYM can be moved to first in line of creditors over the customers that had their funds stolen by SMG.
When a banking customer deposits their money into their bank account, the Federal Deposit Insurance Corporation (FDIC) and Securities Investor Protection Corporation (SPIC) are in place to protect the customer from fraud or theft. The ruling from the CCA means that these regulatory systems will not insure customer funds, investments, depositors and retirees who hold accounts in banks. In fact, the banking institution is now legally allowed to use those customer funds deposited as collateral, payment on debts for loans made, or free use on the stock market to purchase investments as the bank sees fit.
Read More @ OccupyCorporatism.com
In June of 2012, Eric Bloom, former chief executive, and Charles Mosely, head trader of Sentinel Management Group (SMG) were indicted
for stealing $500 million in customer secured funds. Both Mosely and
Bloom were accused of “exposing” customer segregated funds “to a
portfolio of highly risky derivatives.”These customer funds were used to “back up personal investments” which were part of “collateral for a loan from Bank of New York Mellon” (BNYM). This loan derived from stolen customer monies was “used to purchase millions of dollars worth of high-risk, illiquid securities, including collateralized debt obligations, or CDOs, for a trading portfolio that benefited Sentinel’s officers, including Mosley, Bloom and certain Bloom family members.”
Fast forward to August 9th of 2012, and the 7th Circuit Court of Appeals (CCA) rules that BNYM can be moved to first in line of creditors over the customers that had their funds stolen by SMG.
When a banking customer deposits their money into their bank account, the Federal Deposit Insurance Corporation (FDIC) and Securities Investor Protection Corporation (SPIC) are in place to protect the customer from fraud or theft. The ruling from the CCA means that these regulatory systems will not insure customer funds, investments, depositors and retirees who hold accounts in banks. In fact, the banking institution is now legally allowed to use those customer funds deposited as collateral, payment on debts for loans made, or free use on the stock market to purchase investments as the bank sees fit.
Read More @ OccupyCorporatism.com
from KingWorldNews:
Today billionaire Eric Sprott spoke with King World News about one of his frightening predictions, “I always postulated that the financial system would go bankrupt, and it has, save for one thing, it got bailed out.” Sprott, who is Chairman of Sprott Asset Management, also added, “But I don’t think the central planners have a winning hand here. They’re not going to win.”
Sprott then warned, “God knows when we get there (to the end of the current system) what we are all staring at.” But first, here is what he had to say about the last decade: “When I reflect back over the decade, I think my God, I can almost come up with 2,500 tons of net change in physical demand, in a 4,000 ton market on the supply side, which hasn’t changed in that 12 years, that was in balance 12 years ago. How do these ETF’s get to buy gold? How do these central banks go from sellers to buyers? How does China come in and buy 500 tons? How did all of this happen with no increase in the supply of gold? It’s getting more extreme by the day.
Sprott continues @ KingWorldNews.com
With the Congressional Budget Office reporting that the United States will soon fall off the fiscal cliff unless the government takes immediate action, the Federal Reserve weighing another round of heavy-hitting monetary expansion, and the Republican Party now apparently jumping on board the gold standard train, the stars for precious metals seem to be in alignment. So says Peter Schiff, CEO of Europacific Precious Metals.
Having been ahead of gold’s massive upward move years before the bursting of the real estate bubble and crash of 2008, Schiff says there has been a “major development in precious metals,” and if you don’t have any gold or silver yet, this may be your last chance before they head to new record highs.
from visionvictory
The
slings and arrows of outrageous EUR positioning remain key to figuring
out where next in this on-again-off-again currency. The last six weeks
or so have seen a dramatic regime shift from smooth transitions from
risk-on to risk-off to more staccato-like jumps and trends as the world
hangs on every rumor and flashing red headline. We note three things
that may be critical to understand where we go next: 1) EURUSD has
entirely recoupled with its EUR-USD 'swap-spread' implied fair-value
- removing the 'chaos premium' in the pair, and providing less room for
upside without broad-market agreement; 2) EURUSD has decidedly lagged the very impressive rally in European sovereign risk
(suggesting the latter may be a little over-exuberant); and 3) Despite
every talking head telling you about 'all the EUR bears', both
Commitment of Traders and Citi's FX positioning indicator have shifted notably more positive - with the latter, as Steve Englander notes, beginning to show significant EUR longs.
Now that an active segment of the market actually seems long EUR and
associated currencies, the 'good news' bar is a lot higher, and the impact of bad news will be more readily visible.
While
every business and industry implicitly believes in its meaningless
acronyms and language, nothing compares to the financial services
sector. This industry, the one who gifted us APR, ISM, RSP as well as
Core CPI calculated to the 3rd decimal point, is the unchallenged king
of senseless terms only a risk manager would love. In response to these
unnecessary complications, IceCap is introducing a necessary
yet simplified tool for measuring the state of the World’s leading
economies – "The Flounder Meter." This new metric considers the
combination of money printing, bank bailouts, debt levels, government
spending and borrowing costs for a given country. The Flounder Meter
will finally allow everyone to see through the smoke and mirrors and decide for themselves whether a country is in good financial health.
We have critically examined the question of whether the stock market 'discounts' anything
on several previous occasions. The question was for instance raised in
the context of what happened in the second half of 2007. Surely by
October 2007 it must have been crystal clear even to people with the
intellectual capacity of a lamp post and the attention span of a fly
that something was greatly amiss in the mortgage credit market. Then,
just as now, both the ECB and the Fed had begun to take emergency
measures to keep the banking system from keeling over in August. This
brings to mind the 'potent directors fallacy'
which is the belief held by investors that someone – either the
monetary authority, the treasury department, or a consortium of
bankers, or nowadays e.g. the government of China – will come to their
rescue when the market begins to fall. 'They' won't allow the
market to decline!' 'They' won't allow a recession to occur!' 'They
can't let the market go down in an election year!' All of these
are often heard phrases. This brings us to today's markets. Nowadays,
traders are not only not attempting to 'discount' anything, they are
investing with their eyes firmly fixed on the rear-view mirror – they effectively trade on yesterday's news.
Of
course, we are sure this will not weigh on Bernanke's decisions in the
next week or two but for all those who don't see inflation, courtesy
of John Lohman, gas prices have
never been higher during this third week of August. We remain
flabbergasted that in the Wizard of Washington's recent defense of QE,
there was no mention of record high gas prices as justification for it 'working' and it would appear that 'transitory' means something different than us mere un-omnipotent-beings can comprehend.
The empirical data is in. And it turns out that as we have been suggesting for a very long time
— yes, shock horror — helicopter dropping cash onto the financial
sector does disproportionately favour the rich. Here are four simple
questions to the venerable Bank of England (just as applicable to any
and every Central Banker); and sadly, we expect to see the announcement
of more quantitative easing to the financial sector long before we
expect to see answers to any of these questions.
I'm PayPal Verified
from BrotherJohnf:
Today billionaire Eric Sprott spoke with King World News about one of his frightening predictions, “I always postulated that the financial system would go bankrupt, and it has, save for one thing, it got bailed out.” Sprott, who is Chairman of Sprott Asset Management, also added, “But I don’t think the central planners have a winning hand here. They’re not going to win.”
Sprott then warned, “God knows when we get there (to the end of the current system) what we are all staring at.” But first, here is what he had to say about the last decade: “When I reflect back over the decade, I think my God, I can almost come up with 2,500 tons of net change in physical demand, in a 4,000 ton market on the supply side, which hasn’t changed in that 12 years, that was in balance 12 years ago. How do these ETF’s get to buy gold? How do these central banks go from sellers to buyers? How does China come in and buy 500 tons? How did all of this happen with no increase in the supply of gold? It’s getting more extreme by the day.
Sprott continues @ KingWorldNews.com
IMPORTANT MESSAGE: GOLD BREAKS OUT — FED PLANS QE III
by Mac Slavo, SHTFPlan:
With the Congressional Budget Office reporting that the United States will soon fall off the fiscal cliff unless the government takes immediate action, the Federal Reserve weighing another round of heavy-hitting monetary expansion, and the Republican Party now apparently jumping on board the gold standard train, the stars for precious metals seem to be in alignment. So says Peter Schiff, CEO of Europacific Precious Metals.
Having been ahead of gold’s massive upward move years before the bursting of the real estate bubble and crash of 2008, Schiff says there has been a “major development in precious metals,” and if you don’t have any gold or silver yet, this may be your last chance before they head to new record highs.
All summer long I have been forecasting that the prices of both gold and silver would break out. I have been urging clients not to wait until the breakout occurred, but to buy in anticipation of that breakout while prices were lower.
I think that opportunity has now passed. But we still have an opportunity to buy now, while the breakout is still early in its process.
Read More @ SHTFPlan.com
from visionvictory
by Hibah Yousuf, The Buzz:
The retreat from the U.S. stock market continued last week, as investors refrained from making any big bets amid the market’s summer doldrums.
Another $2.7 billion was pulled from U.S. stock market mutual funds during the week ended Aug. 15, according to the Investment Company Institute, bringing the 2012 outflow total to more than $69 billion. By comparison, those funds lost in the neighborhood of $40 billion during the first seven months of 2010 and 2011.
While stock mutual funds have been bleeding money, investors have shown a voracious appetite for bonds, which are considered safe haven investments. In fact, bond funds raked in $7.2 billion last week, the most since early April, according to ICI data.
Hedge funds are betting on disaster
Hybrid funds, which invest in both stocks and bonds, have also been in favor among investors. Hybird funds brought in $949 million last week, the most since early July.
Read More @ Buzz.money.cnn.com
The retreat from the U.S. stock market continued last week, as investors refrained from making any big bets amid the market’s summer doldrums.
Another $2.7 billion was pulled from U.S. stock market mutual funds during the week ended Aug. 15, according to the Investment Company Institute, bringing the 2012 outflow total to more than $69 billion. By comparison, those funds lost in the neighborhood of $40 billion during the first seven months of 2010 and 2011.
While stock mutual funds have been bleeding money, investors have shown a voracious appetite for bonds, which are considered safe haven investments. In fact, bond funds raked in $7.2 billion last week, the most since early April, according to ICI data.
Hedge funds are betting on disaster
Hybrid funds, which invest in both stocks and bonds, have also been in favor among investors. Hybird funds brought in $949 million last week, the most since early July.
Read More @ Buzz.money.cnn.com
Is The EUR Risk-On Or Risk-Off?
The
slings and arrows of outrageous EUR positioning remain key to figuring
out where next in this on-again-off-again currency. The last six weeks
or so have seen a dramatic regime shift from smooth transitions from
risk-on to risk-off to more staccato-like jumps and trends as the world
hangs on every rumor and flashing red headline. We note three things
that may be critical to understand where we go next: 1) EURUSD has
entirely recoupled with its EUR-USD 'swap-spread' implied fair-value
- removing the 'chaos premium' in the pair, and providing less room for
upside without broad-market agreement; 2) EURUSD has decidedly lagged the very impressive rally in European sovereign risk
(suggesting the latter may be a little over-exuberant); and 3) Despite
every talking head telling you about 'all the EUR bears', both
Commitment of Traders and Citi's FX positioning indicator have shifted notably more positive - with the latter, as Steve Englander notes, beginning to show significant EUR longs.
Now that an active segment of the market actually seems long EUR and
associated currencies, the 'good news' bar is a lot higher, and the impact of bad news will be more readily visible.IceCap Asset Management: The Flounder-Meter
While
every business and industry implicitly believes in its meaningless
acronyms and language, nothing compares to the financial services
sector. This industry, the one who gifted us APR, ISM, RSP as well as
Core CPI calculated to the 3rd decimal point, is the unchallenged king
of senseless terms only a risk manager would love. In response to these
unnecessary complications, IceCap is introducing a necessary
yet simplified tool for measuring the state of the World’s leading
economies – "The Flounder Meter." This new metric considers the
combination of money printing, bank bailouts, debt levels, government
spending and borrowing costs for a given country. The Flounder Meter
will finally allow everyone to see through the smoke and mirrors and decide for themselves whether a country is in good financial health.Trading on Yesterday's News – What Does the Stock Market Really 'Know'?
We have critically examined the question of whether the stock market 'discounts' anything
on several previous occasions. The question was for instance raised in
the context of what happened in the second half of 2007. Surely by
October 2007 it must have been crystal clear even to people with the
intellectual capacity of a lamp post and the attention span of a fly
that something was greatly amiss in the mortgage credit market. Then,
just as now, both the ECB and the Fed had begun to take emergency
measures to keep the banking system from keeling over in August. This
brings to mind the 'potent directors fallacy'
which is the belief held by investors that someone – either the
monetary authority, the treasury department, or a consortium of
bankers, or nowadays e.g. the government of China – will come to their
rescue when the market begins to fall. 'They' won't allow the
market to decline!' 'They' won't allow a recession to occur!' 'They
can't let the market go down in an election year!' All of these
are often heard phrases. This brings us to today's markets. Nowadays,
traders are not only not attempting to 'discount' anything, they are
investing with their eyes firmly fixed on the rear-view mirror – they effectively trade on yesterday's news.On This Week In History, Gas Prices Have Never Been Higher
Of
course, we are sure this will not weigh on Bernanke's decisions in the
next week or two but for all those who don't see inflation, courtesy
of John Lohman, gas prices have
never been higher during this third week of August. We remain
flabbergasted that in the Wizard of Washington's recent defense of QE,
there was no mention of record high gas prices as justification for it 'working' and it would appear that 'transitory' means something different than us mere un-omnipotent-beings can comprehend.Does the Bank of England Worry About The Cantillon Effect?
The empirical data is in. And it turns out that as we have been suggesting for a very long time
— yes, shock horror — helicopter dropping cash onto the financial
sector does disproportionately favour the rich. Here are four simple
questions to the venerable Bank of England (just as applicable to any
and every Central Banker); and sadly, we expect to see the announcement
of more quantitative easing to the financial sector long before we
expect to see answers to any of these questions.
by Andrew Hoffman, MilesFranklin.com:
For years, I have noted how roughly 99% of ALL gold price increases
occur in the early hours of New York COMEX PAPER trading; a comedy,
tragedy, and farce wrapped up in one, care of a Cartel that aims NOT to
push prices down – that CANNOT be done – but to control the pace of the
bull market, preventing significant momentum from building at any given
time.
Given that no more than 30% of PHYSICAL gold demand emanates from the Western Hemisphere – including just FIVE PERCENT from the U.S., and EIGHT PERCENT from Europe – it is unconscionable that CRIMINAL PAPER exchanges in London and New York “set the price” on a daily basis. As you can see by the chart below from Dmitri Speck – the single most condemning “manipulation proof” available, gold is nearly ALWAYS hit after the London PM Fix at 10:00 AM EST, and net net, is DOWN in New York trading hours over the course of a 12-year bull market, in which it has appreciated sevenfold…
Read more @ MilesFranklin.com
For years, I have noted how roughly 99% of ALL gold price increases
occur in the early hours of New York COMEX PAPER trading; a comedy,
tragedy, and farce wrapped up in one, care of a Cartel that aims NOT to
push prices down – that CANNOT be done – but to control the pace of the
bull market, preventing significant momentum from building at any given
time.Given that no more than 30% of PHYSICAL gold demand emanates from the Western Hemisphere – including just FIVE PERCENT from the U.S., and EIGHT PERCENT from Europe – it is unconscionable that CRIMINAL PAPER exchanges in London and New York “set the price” on a daily basis. As you can see by the chart below from Dmitri Speck – the single most condemning “manipulation proof” available, gold is nearly ALWAYS hit after the London PM Fix at 10:00 AM EST, and net net, is DOWN in New York trading hours over the course of a 12-year bull market, in which it has appreciated sevenfold…
Read more @ MilesFranklin.com
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contribution.
I'm PayPal Verifiedfrom BrotherJohnf:
from Staff Report, The Daily Bell:
Republicans eye return to fixed value for dollar … The Republican Party is set to call for the creation of a commission to look at possible ways to set a fixed value for the dollar, 40 years after President Richard Nixon ended its link to gold. A draft of the party platform to be adopted at the Republican National Convention next week in Tampa, Florida, ties the plan to “cleaning up the wreckage” of President Barack Obama‘s policies. The proposal recalls a commission created in 1981 by President Ronald Reagan to consider restoring the convertibility of the dollar into metal. The commission advised against such a move in the end. “Now, three decades later, as we face the task of cleaning up the wreckage of the current administration’s policies, we propose a similar commission to investigate possible ways to set a fixed value for the dollar,” the platform would say, according to draft language provided to Reuters by a Republican National Committee official who declined to be named. − Reuters
Dominant Social Theme: Gold is good. And if Leviathan is setting the price so much the better …
Free-Market Analysis: The problem with a state run gold standard is that the state is running it!
Facetiousness aside, this article gives us the opportunity once again to analyze what a gold standard really is and how a free-market one might work. It is probably safe to say that whatever the GOP comes up with will be less free and thus less adequate than what is called for.
Worse, in our humble opinion, whenever such issues arise these days, the dissemblers come out in force to attack the world’s only apparently honest politician, US Congressman Ron Paul, for working with Lewis Lehrman.
Read More @ TheDailyBell.com
Republicans eye return to fixed value for dollar … The Republican Party is set to call for the creation of a commission to look at possible ways to set a fixed value for the dollar, 40 years after President Richard Nixon ended its link to gold. A draft of the party platform to be adopted at the Republican National Convention next week in Tampa, Florida, ties the plan to “cleaning up the wreckage” of President Barack Obama‘s policies. The proposal recalls a commission created in 1981 by President Ronald Reagan to consider restoring the convertibility of the dollar into metal. The commission advised against such a move in the end. “Now, three decades later, as we face the task of cleaning up the wreckage of the current administration’s policies, we propose a similar commission to investigate possible ways to set a fixed value for the dollar,” the platform would say, according to draft language provided to Reuters by a Republican National Committee official who declined to be named. − Reuters
Dominant Social Theme: Gold is good. And if Leviathan is setting the price so much the better …
Free-Market Analysis: The problem with a state run gold standard is that the state is running it!
Facetiousness aside, this article gives us the opportunity once again to analyze what a gold standard really is and how a free-market one might work. It is probably safe to say that whatever the GOP comes up with will be less free and thus less adequate than what is called for.
Worse, in our humble opinion, whenever such issues arise these days, the dissemblers come out in force to attack the world’s only apparently honest politician, US Congressman Ron Paul, for working with Lewis Lehrman.
Read More @ TheDailyBell.com
from alexhiggins732 :
Obama calls for the power to put civilians in prolonged preventative detention to prevent crimes the government knows they’ll commit in the future.
You can view that document here: www.fbo.gov
Just within the past six months, DHS has stockpiled more than one billion rounds of ammo, including 450 million rounds of .40 caliber hollow point ammo earlier this year to fight “homegrown terrorism” (http://www.naturalnews.com/035649_DHS_ammunition_domestic_war.html). But this latest purchase has more people than ever questioning what the eerily Nazi SS-like agency is up to now with its blatant censorship and secrecy.
According to the FedBizOpps.gov announcement, DHS is paying nearly $5 million to have Minnesota-based Federal Cartridge Company produce an unknown quantity of both .223 62 grain duty and .223 64 grain duty ammo for U.S. Customs and Border Protection (CBP) and the U.S. Federal Protective Service (FPS). The ammo will reportedly be used for both training and “performance of duties” purposes.
Read More @ NaturalNews.com
Obama calls for the power to put civilians in prolonged preventative detention to prevent crimes the government knows they’ll commit in the future.
by Michael Krieger, Liberty Blitzkreig
Fill
your bowl to the brim and it will spill. Keep sharpening your knife
and it will blunt. Chase after money and security and your heart will
never unclench. Care about people’s approval and you will be their
prisoner. Do your work, then step back. The only path to serenity.
- Tao Te Ching
It is not the consciousness of men that determines their being, but, on the contrary, their social being that determines their consciousness.
- Karl Marx
Keep away from people who try to belittle your ambitions. Small people always do that, the really great make you feel great too
- Mark Twain
The Most Important Chart in the World
Back in my Bernstein days, I never really took a large amount of presentation materials to most of my meetings. However, there was one chart that I always printed out and brought with me and I called it “The Most Important Chart in the World.” It still is. The chart I am referring to is the ratio of the Dow Jones Industrial Average: The Gold Price. In a nutshell, charting this ratio demonstrates the “real” return on stocks adjusted for inflation or currency debasement. As we all know, the Zimbabwe stock market essentially went up to infinity during their hyperinflation but did anyone get rich from that?
Read More @ LibertyBlitzkreig.com
Fill
your bowl to the brim and it will spill. Keep sharpening your knife
and it will blunt. Chase after money and security and your heart will
never unclench. Care about people’s approval and you will be their
prisoner. Do your work, then step back. The only path to serenity.- Tao Te Ching
It is not the consciousness of men that determines their being, but, on the contrary, their social being that determines their consciousness.
- Karl Marx
Keep away from people who try to belittle your ambitions. Small people always do that, the really great make you feel great too
- Mark Twain
The Most Important Chart in the World
Back in my Bernstein days, I never really took a large amount of presentation materials to most of my meetings. However, there was one chart that I always printed out and brought with me and I called it “The Most Important Chart in the World.” It still is. The chart I am referring to is the ratio of the Dow Jones Industrial Average: The Gold Price. In a nutshell, charting this ratio demonstrates the “real” return on stocks adjusted for inflation or currency debasement. As we all know, the Zimbabwe stock market essentially went up to infinity during their hyperinflation but did anyone get rich from that?
Read More @ LibertyBlitzkreig.com
by Reggie Middleton, BoomBustBlog.com:
As is usual, I’m receiving inordinate amounts of Apple Fanboi mails and comments asking me to admit how wrong I was on Apple. Of course, these emails fail to articulate exactly what I was wrong about, or relate to what I was/am right about. Apple is a company with a heretofore unheard of cult following. If its Apple, it can do no wrong, and anyone who disagrees is wrong. Well for investors, that is a dangerous perspective. Apple’s share price has been on a tear, but its tearing in an equity market that is devoid of true fundamental market pricing. This, alone, should be enough to give the prudent man (or woman) pause. If that’s not enough, there’s always the commons sense perspective.
Apple is minting money, that’s for sure, but it’s minting money based off of a single product. That product has been been totally eclipsed in functionality by its competitors. Those competitors also happen to be Apple’s primary vendors and suppliers for that very same product that Apple relies on for ~70% of its profits!!! If that’s not a recipe for disappointment, I don’t know what it is? This was explained fully in my post The Mobile Computing Wars Are Progressing Exactly As Anticipated – Google Is Killin’ Them!!!
In 2010, I said it will probably take up to 8 quarters for the Apple competition to cause earnings misses. I believe that I was the only one to say so, and Apple has missed expectations twice in less than a year.
Read More @ BoomBustBlog.com
As is usual, I’m receiving inordinate amounts of Apple Fanboi mails and comments asking me to admit how wrong I was on Apple. Of course, these emails fail to articulate exactly what I was wrong about, or relate to what I was/am right about. Apple is a company with a heretofore unheard of cult following. If its Apple, it can do no wrong, and anyone who disagrees is wrong. Well for investors, that is a dangerous perspective. Apple’s share price has been on a tear, but its tearing in an equity market that is devoid of true fundamental market pricing. This, alone, should be enough to give the prudent man (or woman) pause. If that’s not enough, there’s always the commons sense perspective.
Apple is minting money, that’s for sure, but it’s minting money based off of a single product. That product has been been totally eclipsed in functionality by its competitors. Those competitors also happen to be Apple’s primary vendors and suppliers for that very same product that Apple relies on for ~70% of its profits!!! If that’s not a recipe for disappointment, I don’t know what it is? This was explained fully in my post The Mobile Computing Wars Are Progressing Exactly As Anticipated – Google Is Killin’ Them!!!
In 2010, I said it will probably take up to 8 quarters for the Apple competition to cause earnings misses. I believe that I was the only one to say so, and Apple has missed expectations twice in less than a year.
Read More @ BoomBustBlog.com
by Bill Holter, MilesFranklin.com:
I received an e-mail yesterday entitled “Everything is rigged, so
what?”. The e-mail came from Bill Bonner’s “Daily Reckoning” website
which more often than not has some good and thoughtful pieces to read.
THIS not only was an exception, it was beyond stupid! I thought to
myself, maybe the title is misleading so I read the piece. Nope, not
misleading, the author, Chris Mayer, basically is saying that since
everything is rigged and you are aware of it, you can take advantage of
it. Through good research…blah blah blah you can more or less
“outsmart” the riggers.
I was not in a particularly good mood while reading this and sent off a terse and vulgar reply to such ignorance. Think about it for a moment, “Everything is rigged, so what?” If you believe (know) that everything is rigged, what does that really mean? It means that EVERYTHING is false. It means that you cannot trust anything. You can’t trust what your bank statement says that you have. You can’t trust your brokerage or insurance statements. It means that when you work or trade, if you accept Dollars, you are being ripped off.
Read more @ MilesFranklin.com
I received an e-mail yesterday entitled “Everything is rigged, so
what?”. The e-mail came from Bill Bonner’s “Daily Reckoning” website
which more often than not has some good and thoughtful pieces to read.
THIS not only was an exception, it was beyond stupid! I thought to
myself, maybe the title is misleading so I read the piece. Nope, not
misleading, the author, Chris Mayer, basically is saying that since
everything is rigged and you are aware of it, you can take advantage of
it. Through good research…blah blah blah you can more or less
“outsmart” the riggers.I was not in a particularly good mood while reading this and sent off a terse and vulgar reply to such ignorance. Think about it for a moment, “Everything is rigged, so what?” If you believe (know) that everything is rigged, what does that really mean? It means that EVERYTHING is false. It means that you cannot trust anything. You can’t trust what your bank statement says that you have. You can’t trust your brokerage or insurance statements. It means that when you work or trade, if you accept Dollars, you are being ripped off.
Read more @ MilesFranklin.com
by David Jackson, USA Today:
President Obama’s Twitter account has 18.8 million followers — but more
than half of them really don’t exist, according to reports.
A new Web tool has determined that 70% of Obama’s crowd includes “fake followers,” The New York Times reports in a story about how Twitter followers can be purchased.
“The practice has become so widespread that StatusPeople, a social media management company in London, released a Web tool last month called the Fake Follower Check that it says can ascertain how many fake followers you and your friends have,” the Times reports.
“Fake accounts tend to follow a lot of people but have few followers,” said Rob Waller, a founder of StatusPeople. “We then combine that with a few other metrics to confirm the account is fake.”
Read More @ USAToday.com
President Obama’s Twitter account has 18.8 million followers — but more
than half of them really don’t exist, according to reports.A new Web tool has determined that 70% of Obama’s crowd includes “fake followers,” The New York Times reports in a story about how Twitter followers can be purchased.
“The practice has become so widespread that StatusPeople, a social media management company in London, released a Web tool last month called the Fake Follower Check that it says can ascertain how many fake followers you and your friends have,” the Times reports.
“Fake accounts tend to follow a lot of people but have few followers,” said Rob Waller, a founder of StatusPeople. “We then combine that with a few other metrics to confirm the account is fake.”
Read More @ USAToday.com
China
is currently in some economic difficulty which could impact internal
stability and some feel that the global megapower is planning to utilise
gold to reboot and pick its way out of an economic meltdown.
by Lawrence Williams, MineWeb.com
One thing that is most apparent about China relative to virtually any
industry is that nothing is done without the approval, or instruction,
of government. When you have an enormous population of over 1.3 billion
– around 20% of the global population – the government’s policies are
all aimed at maintaining order among its people, and for the past decade
or so this has revolved around massive internal growth. This has been
done, first by becoming the world’s supplier of cheap goods, and second
the building of an internal demand economy to help support this massive
annual growth.
Nearly half the country’s population has moved from the country’s old rural economy into a modern industrial one – but this is now seen as faltering under massive bank debt, much of it in potentially bad loans brought on by government-engendered cheap finance supporting the country’s internal manufacturing and infrastructural growth. Given the Chinese state-owned company aims are not necessarily to make money, but to provide employment, this may not be a sustainable economic model, which could have some dire consequences for those companies, particularly in the resource sector, which have been providing the raw materials that help keep the Chinese factories maintaining uneconomic production levels.
Read More @ MineWeb.com
by Lawrence Williams, MineWeb.com
Nearly half the country’s population has moved from the country’s old rural economy into a modern industrial one – but this is now seen as faltering under massive bank debt, much of it in potentially bad loans brought on by government-engendered cheap finance supporting the country’s internal manufacturing and infrastructural growth. Given the Chinese state-owned company aims are not necessarily to make money, but to provide employment, this may not be a sustainable economic model, which could have some dire consequences for those companies, particularly in the resource sector, which have been providing the raw materials that help keep the Chinese factories maintaining uneconomic production levels.
Read More @ MineWeb.com
by Edwin Mora, CNS News:
There have been 2,527 Department of Homeland Security (DHS) employees
and co-conspirators convicted of corruption and other criminal
misconduct since 2004, according to a federal auditor.
Charles Edwards, the acting inspector general (IG) at DHS, made that revelation in written testimony prepared for an Aug. 1 hearing held by the House Oversight and Government Reform Subcommittee on Government Organization, Efficiency, and Financial Management.
In his remarks, Edwards added that as of July 15, the DHS OIG (Office of the Inspector General) was dealing with 1,591 open criminal cases involving DHS employees and some accomplices. Some cases date back to fiscal year 2004 (Oct. 1, 2003 thru Sept. 30, 2004) although the majority of the open investigations were initiated in the last three fiscal years. The DHS started operating in March 2003.
Read More @ CNSnews.com
There have been 2,527 Department of Homeland Security (DHS) employees
and co-conspirators convicted of corruption and other criminal
misconduct since 2004, according to a federal auditor.
Charles Edwards, the acting inspector general (IG) at DHS, made that revelation in written testimony prepared for an Aug. 1 hearing held by the House Oversight and Government Reform Subcommittee on Government Organization, Efficiency, and Financial Management.
In his remarks, Edwards added that as of July 15, the DHS OIG (Office of the Inspector General) was dealing with 1,591 open criminal cases involving DHS employees and some accomplices. Some cases date back to fiscal year 2004 (Oct. 1, 2003 thru Sept. 30, 2004) although the majority of the open investigations were initiated in the last three fiscal years. The DHS started operating in March 2003.
Read More @ CNSnews.com
Detailed information about how many rounds of .223 caliber ammunition the U.S. Department of Homeland Security (DHS) is right now in the process of purchasing for Immigration and Customs Enforcement (ICE) has been deliberately hidden from public view. Infowars reports that a document posted at the FedBizOpps.gov government website has been clearly blacked out with a marker in the sections that indicate quantities of ammunition purchased.
You can view that document here: www.fbo.gov
Just within the past six months, DHS has stockpiled more than one billion rounds of ammo, including 450 million rounds of .40 caliber hollow point ammo earlier this year to fight “homegrown terrorism” (http://www.naturalnews.com/035649_DHS_ammunition_domestic_war.html). But this latest purchase has more people than ever questioning what the eerily Nazi SS-like agency is up to now with its blatant censorship and secrecy.
According to the FedBizOpps.gov announcement, DHS is paying nearly $5 million to have Minnesota-based Federal Cartridge Company produce an unknown quantity of both .223 62 grain duty and .223 64 grain duty ammo for U.S. Customs and Border Protection (CBP) and the U.S. Federal Protective Service (FPS). The ammo will reportedly be used for both training and “performance of duties” purposes.
Read More @ NaturalNews.com
from KingWorldNews:
Today Tom Fitzpatrick told King World News that silver will quickly
advance 23%, or $7 higher than current levels. Fitzpatrick also expects
massive moves in gold and crude oil that will stun market participants.
Here is what top Citi analyst Fitzpatrick had to say, along with some powerful charts: “We remain bullish on the gold price. Most importantly, this is a bullish gold view, not a gold/dollar view. So while the gold/dollar chart now looks strong, and momentum is picking up, we believe gold will outperform all paper currencies in the developed world. This is because there is so much money printing taking place, particularly in the West.
But we believe over the next 12 to 18 months that we are going to see the the euro significantly lower vs the dollar. Ultimately we see the euro below parity with the dollar, and maybe as low as 90 cents. So over that 12 to 18 month period, we not only see gold performing well vs the dollar, but we see gold significantly outperforming the euro.
Tom Fitzpatrick continues @ KingWorldNews.com
Today Tom Fitzpatrick told King World News that silver will quickly
advance 23%, or $7 higher than current levels. Fitzpatrick also expects
massive moves in gold and crude oil that will stun market participants.Here is what top Citi analyst Fitzpatrick had to say, along with some powerful charts: “We remain bullish on the gold price. Most importantly, this is a bullish gold view, not a gold/dollar view. So while the gold/dollar chart now looks strong, and momentum is picking up, we believe gold will outperform all paper currencies in the developed world. This is because there is so much money printing taking place, particularly in the West.
But we believe over the next 12 to 18 months that we are going to see the the euro significantly lower vs the dollar. Ultimately we see the euro below parity with the dollar, and maybe as low as 90 cents. So over that 12 to 18 month period, we not only see gold performing well vs the dollar, but we see gold significantly outperforming the euro.
Tom Fitzpatrick continues @ KingWorldNews.com
by David McWilliams, David McWilliams:
As noted in an excellent column in this paper on Monday by Stephen
Kinsella, it is five years since the Irish economy began to concertina
under the twin pressures of too much debts and collapsing growth. As we
head towards six years, the question most reasonable people want to know
is, “when is it all going to end”. Maybe the question should be not
when, but “how is this all going to end”.
Using history as our guide and the recent episodes of debt-related boom followed by bust, we can safely say that as night follows day, massive borrowing splurges, huge mortgages and house-price booms lead to a protracted period of massive retrenchment, house price falls and a certain amount of defaults. It is not a matter of if, but when.
If a housing bubble can bust with collapsing prices, so too can a debt bubble with mass default.
For those looking for an end to all this, the default period signals the beginning of the end of the slump because this is the moment of realisation for both debtors and creditors that the world has changed irrevocably and in order to go forward, we can’t go back to the past. Contracts signed then, in good faith, simply can’t be delivered on because the new environment of falling prices and diminished income and wealth simply make this impossible.
Read More @ DavidMcWilliams.ie
Jim Sinclair’s Commentary
Jim Sinclair’s Commentary
Here is the latest from John Williams’ www.ShadowStats.com
- Real Durable Goods Orders and New- and Existing-Home Sales Stagnate Below Pre-2001 Recession Levels
No. 466: July Durable Goods Orders and Home Sales
Web-page: http://www.shadowstats.com
Jim Sinclair’s Commentary
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As noted in an excellent column in this paper on Monday by Stephen
Kinsella, it is five years since the Irish economy began to concertina
under the twin pressures of too much debts and collapsing growth. As we
head towards six years, the question most reasonable people want to know
is, “when is it all going to end”. Maybe the question should be not
when, but “how is this all going to end”.Using history as our guide and the recent episodes of debt-related boom followed by bust, we can safely say that as night follows day, massive borrowing splurges, huge mortgages and house-price booms lead to a protracted period of massive retrenchment, house price falls and a certain amount of defaults. It is not a matter of if, but when.
If a housing bubble can bust with collapsing prices, so too can a debt bubble with mass default.
For those looking for an end to all this, the default period signals the beginning of the end of the slump because this is the moment of realisation for both debtors and creditors that the world has changed irrevocably and in order to go forward, we can’t go back to the past. Contracts signed then, in good faith, simply can’t be delivered on because the new environment of falling prices and diminished income and wealth simply make this impossible.
Read More @ DavidMcWilliams.ie
Jim Sinclair’s Commentary
Coming to your neighborhood soon.
Jim Sinclair’s Commentary
Here is the latest from John Williams’ www.ShadowStats.com
- Real Durable Goods Orders and New- and Existing-Home Sales Stagnate Below Pre-2001 Recession Levels
No. 466: July Durable Goods Orders and Home Sales
Web-page: http://www.shadowstats.com
Jim Sinclair’s Commentary
I have been getting a lot of incoming messages asking what it would mean to gold and the US dollar if Romney is elected.
I would ask each writer to do a little homework for themselves.
Please review this video that presents the US voter well. Then you can
answer your own questions.
Now add to the mix yesterday’s strong request by Romney that Bernanke enthusiastically support the incumbent.
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