Full Spectrum Tyranny
We are witnessing an unprecedented acceleration of plans. Plans to restrict us. Plans to monitor us. Plansto program us. Plans to curtail our ability to travel.Plans to control us. Plans to silence us. Plans to take up arms against us. Plans to make us conform. Plansto enslave us. Plans to make us dependent and totally beholden to the government.Ron Paul or NO VOTE in November...
The 2012 Presidential Campaign – A Public Farce
So what do you think? Is Romney or Obama running the dirtier campaign? Which is the lesser of the two evils? Are you ready to go out and cast your vote for the perpetuation of the status quo and your own enslavement?Paul Ryan's Budget
To
get private debt to a sustainable level via tax cuts, Ryan would have
to cut taxes to zero for a very long time (and hope that people use
their tax cut to pay down debt instead of spending it at Chipotle and
the Apple Store). The biggest problem with that? Over 75% of Federal
spending is mandated by law, and so US public debt — which Ryan
believes is the real problem — would soar (as has happened in Britain). Ryan might seem worried about the future possibility of massive public debt (as opposed to the current reality of massive total debt),
but his plan could conceivably result in much higher public debt —
after all the OMB and CBO have gotten it all very wrong before, just twelve years ago foreseeing massive tax surpluses of $48 and $87 billion respectively in 2012. So does he have any real plan to significantly raise revenues? In
his entire 98-page manifesto, Ryan doesn’t name any — but he has ruled
out taxing capital gains as income, surely the biggest tax loophole of
all, and one that has seriously benefited his running mate.Paul Ryan Factbox
Reuters summarizes the key facts about the 42-year old House Budget Chair and potential future American vice president.The Truth Reversal and Omission Scheme
The daily headlines are getting more mind-boggling by the day. One thing they all have in common, besides being a complete affront to the senses and spirit; They’re all f**ing backwards. They’re complete reversals of not only previously established facts, but what your heart and even common sense are telling you.Trader Dan on King World News Markets and Metals Wrap
Please click on the following link to listen in to my regular weekly radio
interview with Eric King on the KWN Markets and Metals Wrap.
*http://tinyurl.com/c2m8e87*
**
Accumulation of British Pound Says Fade Headline Opinion
Opinion says the British pound is heading for fresh lows in the coming
weeks. The message of the market which is the only thing I read says, Go
ahead and short the pound if you want, but I’m accumulating this quiet
market. Fading the headlines while the invisible hand accumulates quietly
present the best bullish setups. They often precede significant rallies and
offer a chance for decent...
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content, and more! ]]
China CPI rises/Corn at all time highs/Spanish 2 yr bond yields back above 4%/Spanish 10 yr bond yields and Italian yields rise again/
Good morning Ladies and Gentlemen: Before beginning Jim Sinclair just received his tax return from the IRS and they are puzzled because of the number of dependents claimed by Mr Sinclair. You have to love Jim: (courtesy Jim Sinclair) just received my tax return for 2011 back from the IRS. It puzzles me!!! They are questioning how many dependents I claimed. I guess it was because of myUK Sends £5 Million to Listed Terrorists in Syria
US-UK listed terror organization Libyan Islamic Fighting Group (LIFG) fighters and commanders are clearly amongst militants underwritten by latest UK funding.Genesis of US-Saudi “Al Qaeda Frankenstein” in Syria
Al Qaeda militants funded, armed and arrayed against Syria by the West since at least 2007 receive PR boost from Western media as public awareness grows of their presence.“You Can Take That To The Bank You Miserable Son Of A Bitch…” (An Open Letter to Obama’s Deficit Commission)
“We have been paying income taxes our entire lives, and now you propose to increase our taxes yet again. Why? Because you incompetent bastards spent our money so profligately, that you just keep on spending, even after you ran out of money to spend. “It's A Centrally-Planned World After All, With Ever Diminishing Returns
By now it is no secret that the primary beneficiary of the over $7 trillion pumped by global central banks into the financial system in just the past 4 years,
and countless other trillions in miss-spent fiscal stimuli has been
the stock market. But what about the global economy: after all five
years after BNP Paribas stopped withdrawals from their investment funds
- the unofficial start of the Great Financial Crisis - whose primary
beneficiaries have been corn, gold, silver and brent
- we should have seen at least some sustained impact in the economy if
all Econ 101 teaches us about the virtuous business cycle is true, and
if any of this countless money out of ZIRP air actually made its way
into the economy instead of just the stock market. Well, let's take a
look shall well. Courtesy of Bridgewater we present a chart of
coordinated interventions and their impact not on the stock market, but
on the economy. What we find is that it was, is, and will be a centrally planned world after all. Guest Post: The "Maturity Crunch"
In the euro area overnight rate targeting has produced roughly a 130% expansion of the true money supply in the first decade of the euro's existence – about twice the money supply expansion that occurred in the US during the 'roaring twenties' (Murray Rothbard notes in 'America's Great Depression' that the US true money supply expanded by about 65% in the allegedly 'non-inflationary' boom of the 1920's). This expansion of money and credit is the root cause of the financial and economic crisis the euro area is in now. This point cannot be stressed often enough: the crisis has nothing to do with the 'different state of economic development' or the 'different work ethic' of the countries concerned. It is solely a result of the preceding credit expansion. Since long term interest rates are essentially the sum of the expected path of short term interest rates plus a risk and price premium, the central bank's manipulation of short term rates will usually also be reflected in long term rates. In the euro area's periphery, the central bank has lost control over interest rates since the crisis has begun. The market these days usually expresses growing doubts about the solvency of sovereign debtors by flattening their yield curve: short term rates will tend to rise faster than long term ones. This in essence indicates that default (or a bailout application) is expected to happen in the near future. It is possible that this effect has also influenced the ECB's decision to concentrate future bond buying on the short end of the yield curve. However, as is usually the case with such interventions, there are likely to be unintended consequences.
By Garry White, The Telegraph:
A drought in the US is causing corn price to soar, with fears mounting of damage to wheat crops.
Fears of a potential repeat of the 2008 food crisis mounted, after a
US government report showed that US crops were being savaged by an
intense drought.Corn prices hit a new record high today on confirmation that the US crop would probably slump by 13pc to a 6-year low.
The last time prices spiked 4 years ago food riots occured in Egypt, India, Indonesia, Mexico and many other countries.
The US Department of Agriculture (USDA) said that the severe drought occurring in the US meant that this year’s harvest would be 10.779bn bushels, compared with 12.358bn bushels last year.
December corn futures traded on the Chicago Board of Trade rose as high as $8.3075 a bushel, a new record, before easing back. Corn prices have surged more than 60pc since June.
The USDA said that crop conditions on August 5 were the worst since 1988, with 69pc of the Midwest seeing moderate to exceptional drought. There is also concern that wheat prices could surge, as hot weather conditions in Eastern Europe persist.
Read More @ Telegraph.co.uk
by Pierre-Guy Veer, Mises.ca:
Left-wingers – those who want more government intervention in the
economy – just love equality. For them, all our problems would be solved
if we were all equal. But they never answer the crucial question: equal
in what way? In intelligence? Surely they don’t want people to be
clones. Or is it rather material equality, such as wealth, resources and
opportunities? If that is the case, then many problems arise. Not only
are there many concepts of equality, but they are mutually
incompatibles.
The most popular type of equality is that of welfare. For its promoters, humanity would be better off if we all could live equally good lives with similar wage height. Out of this desire,the Gini index was likely created. You see, the Gini index measures income inequality; a low index shows that revenues within a given territory are more equal.
This type of equality is very problematic. First of all, it’s demonstrative of some kind of jealousy. Indeed, despite the fact their profession is cartelized, medical doctors still “deserve” a higher wage than janitors considering all the studying and training they go through and the productive service they offer. And let’s not forget all the hardships and stress related to the medical field. Leveling down wages would simply encourage doctors to abandon their studies, whereas leveling up wages would make the price of cleaning explode.
Read More @ Mises.ca
Left-wingers – those who want more government intervention in the
economy – just love equality. For them, all our problems would be solved
if we were all equal. But they never answer the crucial question: equal
in what way? In intelligence? Surely they don’t want people to be
clones. Or is it rather material equality, such as wealth, resources and
opportunities? If that is the case, then many problems arise. Not only
are there many concepts of equality, but they are mutually
incompatibles.The most popular type of equality is that of welfare. For its promoters, humanity would be better off if we all could live equally good lives with similar wage height. Out of this desire,the Gini index was likely created. You see, the Gini index measures income inequality; a low index shows that revenues within a given territory are more equal.
This type of equality is very problematic. First of all, it’s demonstrative of some kind of jealousy. Indeed, despite the fact their profession is cartelized, medical doctors still “deserve” a higher wage than janitors considering all the studying and training they go through and the productive service they offer. And let’s not forget all the hardships and stress related to the medical field. Leveling down wages would simply encourage doctors to abandon their studies, whereas leveling up wages would make the price of cleaning explode.
Read More @ Mises.ca
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from KingWorldNews:
The KWN Weekly Metals Wrap – We have added new segments to the KWN
Weekly Metals Wrap covering gold, silver, trading and a plethora of
other factors affecting the precious metals markets. I am giving King
World News listeners globally access to what has long been my secret
weapons in researching where gold and silver are headed directionally
along with the COT Report. We Cover the Commitment of Traders Report in
detail as well as a number of other factors which can influence the gold
and silver market price action.
LISTEN NOW @ KingWorldNews.com
The KWN Weekly Metals Wrap – We have added new segments to the KWN
Weekly Metals Wrap covering gold, silver, trading and a plethora of
other factors affecting the precious metals markets. I am giving King
World News listeners globally access to what has long been my secret
weapons in researching where gold and silver are headed directionally
along with the COT Report. We Cover the Commitment of Traders Report in
detail as well as a number of other factors which can influence the gold
and silver market price action.LISTEN NOW @ KingWorldNews.com
by Lew Rockwell, Lew Rockwell:
Lew Rockwell is interviewed on Capital Account about government, banksters, and the political class.
CLICK HERE FOR AUDIO INTERVIEW
Lew Rockwell is interviewed on Capital Account about government, banksters, and the political class.
CLICK HERE FOR AUDIO INTERVIEW
by GoldMoney News Desk, Gold Money:
Investing in precious metals hasn’t been much of a fun ride lately. In
late April of 2011, silver spiked to its still standing nominal high of
$50, last reached over 30 years ago, back in 1980. Afterwards it
plunged to about $32, before recovering to around $44 in September. At
this time gold – which wasn’t nearly hit as hard in May and rallied to a
new high of $1,920 in September – was up for the hammer drop and fell
by 20% to $1,530. Expectedly, silver had to be dragged down with gold
and got smashed to the $26 level for an almost 50% correction from its
April highs.
As if these big and fast corrections in price were not enough, an equally painful correction through time set in. While support at $26 for silver and $1.530 for gold was successfully tested many times, it seemed that with every new test the number of precious metals skeptics increased and many bulls buried their remaining hopes. As David Morgan likes to say: ‘The market will either scare you out or wear you out’.
This however is the natural behavior in a healthy bull market, which tries to take with it the fewest number of people possible and only rewards those with the strongest nerves, who are ready to trust their beliefs and weather the storm of fear. After the ‘scare’ and the ‘wear’ the bull will be ready for its next round.
Read More @ GoldMoney.com
Investing in precious metals hasn’t been much of a fun ride lately. In
late April of 2011, silver spiked to its still standing nominal high of
$50, last reached over 30 years ago, back in 1980. Afterwards it
plunged to about $32, before recovering to around $44 in September. At
this time gold – which wasn’t nearly hit as hard in May and rallied to a
new high of $1,920 in September – was up for the hammer drop and fell
by 20% to $1,530. Expectedly, silver had to be dragged down with gold
and got smashed to the $26 level for an almost 50% correction from its
April highs.As if these big and fast corrections in price were not enough, an equally painful correction through time set in. While support at $26 for silver and $1.530 for gold was successfully tested many times, it seemed that with every new test the number of precious metals skeptics increased and many bulls buried their remaining hopes. As David Morgan likes to say: ‘The market will either scare you out or wear you out’.
This however is the natural behavior in a healthy bull market, which tries to take with it the fewest number of people possible and only rewards those with the strongest nerves, who are ready to trust their beliefs and weather the storm of fear. After the ‘scare’ and the ‘wear’ the bull will be ready for its next round.
Read More @ GoldMoney.com
from Testosterone Pit.com:
“Dire” is no longer the right word to describe the situation in Greece.
Unemployment hit 23.1% in May, according to ELSTAT, the Greek
statistical agency, which released the report on August 9. That it takes over two months
to do a job—producing unemployment numbers—that other countries
accomplish in a couple of weeks may be symptomatic of Greece’s calamity
economy.
And a calamity it is. Youth unemployment (15-24) jumped to 54.9%—but even before the crisis, during the boom years so to speak, it had been high, ranging from 22% in 2007 to 32% in 1999. The number of people with jobs dropped to 3,816,900—of a total population of 9.9 million! Only 38.5% of the people work! In the US, where the jobs situation is dismal enough, the employment population ratio is 58.4%. No country can succeed when only 38.5% of the people contribute to the economy and pay taxes to feed their government and service its debt. To get to 50%, the Greek economy would have to create 1.2 million jobs, a 31% jump! Impossible under the regime of Greek politics, bureaucrats, and state-owned enterprises. So the people are reacting with their feet.
“Thousands upon thousands of Greeks are on the move, leaving the larger cities for the countryside or smaller provincial towns or abandoning the country to try their luck abroad,” writes Teacher Dude in his blog from Thessaloniki, Northern Greece. “The steady rhythm of friends, neighbors, and colleagues gradually slipping away,” he laments. “In every apartment block in every street, no entrance hall is complete without a handful of For Rent or For Sale signs.”
Read More @ TestosteronePit.com
“Dire” is no longer the right word to describe the situation in Greece.
Unemployment hit 23.1% in May, according to ELSTAT, the Greek
statistical agency, which released the report on August 9. That it takes over two months
to do a job—producing unemployment numbers—that other countries
accomplish in a couple of weeks may be symptomatic of Greece’s calamity
economy.And a calamity it is. Youth unemployment (15-24) jumped to 54.9%—but even before the crisis, during the boom years so to speak, it had been high, ranging from 22% in 2007 to 32% in 1999. The number of people with jobs dropped to 3,816,900—of a total population of 9.9 million! Only 38.5% of the people work! In the US, where the jobs situation is dismal enough, the employment population ratio is 58.4%. No country can succeed when only 38.5% of the people contribute to the economy and pay taxes to feed their government and service its debt. To get to 50%, the Greek economy would have to create 1.2 million jobs, a 31% jump! Impossible under the regime of Greek politics, bureaucrats, and state-owned enterprises. So the people are reacting with their feet.
“Thousands upon thousands of Greeks are on the move, leaving the larger cities for the countryside or smaller provincial towns or abandoning the country to try their luck abroad,” writes Teacher Dude in his blog from Thessaloniki, Northern Greece. “The steady rhythm of friends, neighbors, and colleagues gradually slipping away,” he laments. “In every apartment block in every street, no entrance hall is complete without a handful of For Rent or For Sale signs.”
Read More @ TestosteronePit.com
from Wealth Cycles:
Gold may be ripe for at least a short-term rally based on the large number traders holding short positions.
As Carolyn Cui reported for the Wall Street Journal last week, data shows that since 2005 every time the number of gold short positions shoots up significantly, the price of gold does likewise.
To “short” gold or another asset, such as a stock, means to sell it at a higher price with the expectation the price will fall, and one will be able to buy it later at a lower price, thus profiting on the difference. Of course, if the price of the asset goes up instead of down, the speculator has lost the opportunity to profit, as they can no longer buy at a lower price than they sold.
Read More @ WealthCycles.com
Gold may be ripe for at least a short-term rally based on the large number traders holding short positions.As Carolyn Cui reported for the Wall Street Journal last week, data shows that since 2005 every time the number of gold short positions shoots up significantly, the price of gold does likewise.
[Standard Bank analyst Walter] De Wet examined the previous four times when gold shorts shot up since 2005. Gold prices soared three times out of the four, up 25%, 23% and 36%, respectively.
“You should be careful of shorting gold when there’s such a big short already,” he said.
To “short” gold or another asset, such as a stock, means to sell it at a higher price with the expectation the price will fall, and one will be able to buy it later at a lower price, thus profiting on the difference. Of course, if the price of the asset goes up instead of down, the speculator has lost the opportunity to profit, as they can no longer buy at a lower price than they sold.
Read More @ WealthCycles.com
by Stephen Lendman, SJLendman.Blogspot.com:
Washington needs media support to wage wars and plan new ones. Broadcast and print scoundrels oblige.
Paid liars infest Western media. Managed news misinformation creates enemies. Fear is stoked. War is cheerled, glorified, and sanitized to suppress truths too grim to report.
Reasons for war aren’t explained. Fake ones are invented. Public opinion is manipulated to support what should be condemned.
Wars beget more of them. America wages permanent ones. It’s longstanding official policy. Where it ends, who knows.
Washington’s targets Syria and Iran. Destroying both countries and remaking them in America’s image is planned. Media scoundrels turn a blind eye. Imperial dominance alone matters.
Daily articles, commentaries and editorials promote Washington’s agenda. Willing co-conspirators invent reality. Media scoundrels fell from grace long ago. Conflicts of interest proliferate.
Administration and Pentagon handouts substitute for journalism. Reporters and commentators comprise a virtual Noah’s Ark of scam artists. Savvy readers ignore them. Maybe some day everyone will and tune out propaganda TV.
Read More @ SJLendman.Blogspot.com
Washington needs media support to wage wars and plan new ones. Broadcast and print scoundrels oblige. Paid liars infest Western media. Managed news misinformation creates enemies. Fear is stoked. War is cheerled, glorified, and sanitized to suppress truths too grim to report.
Reasons for war aren’t explained. Fake ones are invented. Public opinion is manipulated to support what should be condemned.
Wars beget more of them. America wages permanent ones. It’s longstanding official policy. Where it ends, who knows.
Washington’s targets Syria and Iran. Destroying both countries and remaking them in America’s image is planned. Media scoundrels turn a blind eye. Imperial dominance alone matters.
Daily articles, commentaries and editorials promote Washington’s agenda. Willing co-conspirators invent reality. Media scoundrels fell from grace long ago. Conflicts of interest proliferate.
Administration and Pentagon handouts substitute for journalism. Reporters and commentators comprise a virtual Noah’s Ark of scam artists. Savvy readers ignore them. Maybe some day everyone will and tune out propaganda TV.
Read More @ SJLendman.Blogspot.com
from FinancialSurvivalNetwork.com:
Chris Duane was in the People’s Cesspit, otherwise known as
Washington, DC. He had the honor of meeting Dr. Ron Paul and discussing
monetary policy and sound money with the good Doctor, who’s been a 40
year proponent of it. And while Dr. Paul’s is on his way towards a much
deserved retirement, he has many followers who are only two happy to
pick up the cause and fight for giving the people control over their
money. Short of a revolution in how we define and treat money, the
global economy will continue its death spiral for many years to come.
And there’s nothing the Ben Barnank and all of his cronies can do to
save the system. It’s broken beyond repair. So get ready. The
mathematical facts will soon assert themselves with a vengeance.
CLICK HERE FOR AUDIO INTERVIEW
Dear Gold Community,
To quote Bud Fox, “Blue Horseshoe loves Anacott Steel (Gold)”
Regards,
Eric
‘The Ten Cannots’
1. You cannot bring about prosperity by discouraging thrift.
2. You cannot strengthen the weak by weakening the strong.
3. You cannot help little men by tearing down big men.
4. You cannot lift the wage earner by pulling down the wage payer.
5. You cannot help the poor by destroying the rich.
6. You cannot establish sound security on borrowed money.
7. You cannot further the brotherhood of man by inciting class hatred.
8. You cannot keep out of trouble by spending more than you earn.
9. You cannot build character and courage by destroying men’s initiative and independence.
10. And you cannot help men permanently by doing for them what they can and should do for themselves.
Authored by Rev. William J.H. Boetcker and originally published in 1916 in a pamphlet titled ‘The Ten Cannots’. (‘The Ten Cannots’ is often ascribed to Abraham Lincoln due to a pamphlet printed in 1942.)
Jim Sinclair’s Commentary:
MARKET PULSE Archives
Aug. 10, 2012, 1:56 p.m. EDT
Fed’s Williams now favors QE3
By Greg Robb
WASHINGTON (MarketWatch) – San Francisco Federal Reserve Bank President John Williams said Friday he now supports another round of asset purchases. “It seems like if we have the tools to move us faster toward our goals, we should use them,” Williams said in an interview with the San Francisco Chronicle. Williams is a voting member of the interest-rate setting Federal Open Market Committee this year. Earlier this week, Boston Fed President Eric Rosengren also came out in support of QE3. Both Williams and Rosengren said they favor an “open-ended” program of monthly purchases. The first two rounds of quantitative easing ended on a specific calendar date. Top economists are split fairly evenly on whether the central bank would launch another round of stimulus, according to Blue Chip Economic Indicators.
More…
Jim Sinclair’s Commentary:
CIGA Green Hornet thinks we all should get ready
Exclusive: U.S. banks told to make plans for preventing collapse
Fri Aug 10, 2012 12:04am EDT
By Rick Rothacker
(Reuters) – U.S. regulators directed five of the country’s biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help.
The two-year-old program, which has been largely secret until now, is in addition to the “living wills” the banks crafted to help regulators dismantle them if they actually do fail. It shows how hard regulators are working to ensure that banks have plans for worst-case scenarios and can act rationally in times of distress.
Officials like Lehman Brothers former Chief Executive Dick Fuld have been criticized for having been too hesitant to take bold steps to solve their banks’ problems during the financial crisis.
According to documents obtained by Reuters, the Federal Reserve and the U.S. Office of the Comptroller of the Currency first directed five banks – which also include Citigroup Inc,, Morgan Stanley and JPMorgan Chase & Co – to come up with these “recovery plans” in May 2010.
More…
Jim Sinclair’s Commentary:
Standard Chartered Bank Accused Of Scheming With Iran To Launder $250 Billion
Regulators asked five big banks to make ‘recovery plans’
Reuters
7:05 a.m. CDT, August 10, 2012
ALBANY, N.Y. — A British bank schemed with the Iranian government to launder $250 billion from 2001 to 2007, leaving the United States’ financial system “vulnerable to terrorists,” New York’s financial regulator charged Monday.
In a statement released Monday night, Standard Chartered Bank said it “strongly rejects” and “contests” the New York regulators’ portrayal of its transactions with Iranian banks. It said it voluntarily began reviewing the transactions since 2010 with U.S. regulators and the findings don’t match the accusations leveled at the bank Monday.
State Financial Services Superintendent Benjamin Lawsky signed an order that requires London-based Standard Chartered Bank to answer his questions following an investigation into “wire stripping,” the practice of removing crucial identifiers in financial transactions.
The state agency called the bank a rogue institution and quoted one of its executives as saying: “You (expletive) Americans. Who are you to tell us, the rest of the world, that we’re not going to deal with Iranians.”
The bank conspired with its Iranian clients to route nearly 60,000 different U.S. dollar payments through Standard Chartered’s New York branch “after first stripping information from wire transfer messages used to identify sanctioned countries, individuals and entities,” according to agency’s order.
More…
Chris Duane was in the People’s Cesspit, otherwise known as
Washington, DC. He had the honor of meeting Dr. Ron Paul and discussing
monetary policy and sound money with the good Doctor, who’s been a 40
year proponent of it. And while Dr. Paul’s is on his way towards a much
deserved retirement, he has many followers who are only two happy to
pick up the cause and fight for giving the people control over their
money. Short of a revolution in how we define and treat money, the
global economy will continue its death spiral for many years to come.
And there’s nothing the Ben Barnank and all of his cronies can do to
save the system. It’s broken beyond repair. So get ready. The
mathematical facts will soon assert themselves with a vengeance.CLICK HERE FOR AUDIO INTERVIEW
Dear Gold Community,
Two dates (chart):
11/24/08, WA=54%, Gold = $778/oz
08/10/12, WA=54%, Gold = $1618.5/oz
08/10/12, WA=54%, Gold = $1618.5/oz
An important buy signal has been generated while most traders
vacationing for the summer or watching the Olympics are too far removed
to have noticed. The 54% reading was generated on a steady rise in total
net asset value tonnes in the trust as price discretely hovers around
$1,600.
Excellent! Someone knows what they’re doing.
To quote Bud Fox, “Blue Horseshoe loves Anacott Steel (Gold)”
Regards,
Eric
‘The Ten Cannots’
1. You cannot bring about prosperity by discouraging thrift.
2. You cannot strengthen the weak by weakening the strong.
3. You cannot help little men by tearing down big men.
4. You cannot lift the wage earner by pulling down the wage payer.
5. You cannot help the poor by destroying the rich.
6. You cannot establish sound security on borrowed money.
7. You cannot further the brotherhood of man by inciting class hatred.
8. You cannot keep out of trouble by spending more than you earn.
9. You cannot build character and courage by destroying men’s initiative and independence.
10. And you cannot help men permanently by doing for them what they can and should do for themselves.
Authored by Rev. William J.H. Boetcker and originally published in 1916 in a pamphlet titled ‘The Ten Cannots’. (‘The Ten Cannots’ is often ascribed to Abraham Lincoln due to a pamphlet printed in 1942.)
Jim Sinclair’s Commentary:
Here is what is coming and how it is coming.
QE on a monthly basis only.
This way Fed releases need only speak to 1/12 of its size per month and play with people’s heads.
Monthly QE is QE to Infinity which is as sure as death and taxes and gold at and above $3500
MARKET PULSE Archives
Aug. 10, 2012, 1:56 p.m. EDT
Fed’s Williams now favors QE3
By Greg Robb
WASHINGTON (MarketWatch) – San Francisco Federal Reserve Bank President John Williams said Friday he now supports another round of asset purchases. “It seems like if we have the tools to move us faster toward our goals, we should use them,” Williams said in an interview with the San Francisco Chronicle. Williams is a voting member of the interest-rate setting Federal Open Market Committee this year. Earlier this week, Boston Fed President Eric Rosengren also came out in support of QE3. Both Williams and Rosengren said they favor an “open-ended” program of monthly purchases. The first two rounds of quantitative easing ended on a specific calendar date. Top economists are split fairly evenly on whether the central bank would launch another round of stimulus, according to Blue Chip Economic Indicators.
More…
Jim Sinclair’s Commentary:
CIGA Green Hornet thinks we all should get ready
Exclusive: U.S. banks told to make plans for preventing collapse
Fri Aug 10, 2012 12:04am EDT
By Rick Rothacker
(Reuters) – U.S. regulators directed five of the country’s biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help.
The two-year-old program, which has been largely secret until now, is in addition to the “living wills” the banks crafted to help regulators dismantle them if they actually do fail. It shows how hard regulators are working to ensure that banks have plans for worst-case scenarios and can act rationally in times of distress.
Officials like Lehman Brothers former Chief Executive Dick Fuld have been criticized for having been too hesitant to take bold steps to solve their banks’ problems during the financial crisis.
According to documents obtained by Reuters, the Federal Reserve and the U.S. Office of the Comptroller of the Currency first directed five banks – which also include Citigroup Inc,, Morgan Stanley and JPMorgan Chase & Co – to come up with these “recovery plans” in May 2010.
More…
Jim Sinclair’s Commentary:
CIGA Green Hornet was spot on when he said in “Finance everywhere it a
duplicate of SODDAM and GHAMORA devoid of the fun, just a place for
sick sociopaths.”
Standard Chartered Bank Accused Of Scheming With Iran To Launder $250 Billion
Regulators asked five big banks to make ‘recovery plans’
Reuters
7:05 a.m. CDT, August 10, 2012
ALBANY, N.Y. — A British bank schemed with the Iranian government to launder $250 billion from 2001 to 2007, leaving the United States’ financial system “vulnerable to terrorists,” New York’s financial regulator charged Monday.
In a statement released Monday night, Standard Chartered Bank said it “strongly rejects” and “contests” the New York regulators’ portrayal of its transactions with Iranian banks. It said it voluntarily began reviewing the transactions since 2010 with U.S. regulators and the findings don’t match the accusations leveled at the bank Monday.
State Financial Services Superintendent Benjamin Lawsky signed an order that requires London-based Standard Chartered Bank to answer his questions following an investigation into “wire stripping,” the practice of removing crucial identifiers in financial transactions.
The state agency called the bank a rogue institution and quoted one of its executives as saying: “You (expletive) Americans. Who are you to tell us, the rest of the world, that we’re not going to deal with Iranians.”
The bank conspired with its Iranian clients to route nearly 60,000 different U.S. dollar payments through Standard Chartered’s New York branch “after first stripping information from wire transfer messages used to identify sanctioned countries, individuals and entities,” according to agency’s order.
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