by Dominique de Kevelioc de Bailleul, Beacon Equity Research:
With the stock price of Morgan Stanley inches from its Armageddon lows
of Oct. 2008, whispers of the imminent overnight collapse of this U.S. broker-dealer begin to surface. Client funds, again, are at risk.“I’m hearing rumors that another major financial house is going to implode,” says TruNews host Rick Wiles. In fact, the name I’ve been given is Morgan Stanley . . .
“It’s going to be put on the sacrificial alter by the financial elite.”
Beyond the evidence of a teetering stock price—Morgan Stanley’s troubles may never go away—leading to bankruptcy, if traders can glean anything from the financial activities of front-running insider George Soros, the man who warned in Jun. 2010 that the global financial crisis has entered “act II.”
According to Soros’ 13-F filing (ending Jun. 30) with the SEC, the billionaire financier reported that his fund sold nearly all shares of JP Morgan, Goldman Sachs and Citigroup—not paring back his holdings of financials, but completely dumping them.
And, as if to yell that the F.I.R.E economy is, indeed, on fire, the 82-year-old Soros also reports loading up on gold—adding a bit of poetry to Charlie Munger’s bizarre comment (1) in reference to investors who seek out gold in times of trouble.
Read More @ BeaconEquity.com
by JT Long, The Gold Report:
The dire economic situation that persists globally despite the best efforts of central planners to make things seem normal leads Sprott Inc.’s legendary Chairman Eric Sprott to broadcast a loud message of caution: “Fear the financial system.” In this exclusive interview with The Gold Report, Sprott says it’s time for people to take matters into their own hands and that means pushing further and further into precious metals equities as well as physical gold and silver. With 80% of his own portfolio in that arena, he certainly puts his money where his mouth is.
The Gold Report: You’ve stated before that the price of gold should be above $3,200/ounce (oz) and the price of silver above $200/oz but market manipulation keeps both metals artificially low. Who is manipulating it?
Eric Sprott: I suspect the G6 central banks have a hand in subverting the gold price because as the canary in the coal mine, high gold prices might tip everyone off to the severity of the ongoing financial crisis. I don’t think anyone can doubt that we’re in the middle of a financial crisis, primarily in the banking system, when month after month one program after another is rolled out to save somebody, whether it’s Long-Term Refinancing Operations (LTROs), quantitative easings (QEs), bank bailouts in Spain or rollovers of debt in Greece.
Read More @ Theaureport.com
Igor Panarin, dean the Russian Foreign Ministry School for future diplomats, believes that President Obama will announce martial law by the end of 2012. He explains: “There’s a 55-45% chance right now that disintegration will occur.”
In 2009, Panarin lectured at the Diplomatic Academy where he said that he believes that the US will begin to collapse in 2010. He compared America to Nazi Germany and blamed the US for the global financial crisis that destroyed the Russian economy.
Panarin said that American society is in decline, referencing school shootings like Columbine. Combined with the banker bailouts in 2008 as proof that the US is no longer the global dominating economy, Paranrin believes that the American dream is over.
He asserts that mass immigration, economic decline and moral degradation will plunge America into a civil war that will center on the collapse of the US dollar.
Read More @ OccupyCorporatism.com
The dire economic situation that persists globally despite the best efforts of central planners to make things seem normal leads Sprott Inc.’s legendary Chairman Eric Sprott to broadcast a loud message of caution: “Fear the financial system.” In this exclusive interview with The Gold Report, Sprott says it’s time for people to take matters into their own hands and that means pushing further and further into precious metals equities as well as physical gold and silver. With 80% of his own portfolio in that arena, he certainly puts his money where his mouth is.
The Gold Report: You’ve stated before that the price of gold should be above $3,200/ounce (oz) and the price of silver above $200/oz but market manipulation keeps both metals artificially low. Who is manipulating it?
Eric Sprott: I suspect the G6 central banks have a hand in subverting the gold price because as the canary in the coal mine, high gold prices might tip everyone off to the severity of the ongoing financial crisis. I don’t think anyone can doubt that we’re in the middle of a financial crisis, primarily in the banking system, when month after month one program after another is rolled out to save somebody, whether it’s Long-Term Refinancing Operations (LTROs), quantitative easings (QEs), bank bailouts in Spain or rollovers of debt in Greece.
Read More @ Theaureport.com
by Susanne Posel, Occupy Corporatism:
Igor Panarin, dean the Russian Foreign Ministry School for future diplomats, believes that President Obama will announce martial law by the end of 2012. He explains: “There’s a 55-45% chance right now that disintegration will occur.”
In 2009, Panarin lectured at the Diplomatic Academy where he said that he believes that the US will begin to collapse in 2010. He compared America to Nazi Germany and blamed the US for the global financial crisis that destroyed the Russian economy.
Panarin said that American society is in decline, referencing school shootings like Columbine. Combined with the banker bailouts in 2008 as proof that the US is no longer the global dominating economy, Paranrin believes that the American dream is over.
He asserts that mass immigration, economic decline and moral degradation will plunge America into a civil war that will center on the collapse of the US dollar.
Read More @ OccupyCorporatism.com
from FinancialSurvivalNetwork.com:
BrotherJohnF has been calling the current precious metals for a couple
of months now. The markets are displaying much different behaviors than
previously. The Asian market is picking up metals with near reckless
abandon. Silver is crucial to industrial use and there are no government
stock piles. Therefore, when supply gets crimped, prices will sky
rocket. Which explains its volatility when compared to gold. Renewed
silver investment demand could cause the price to rise several multiples
over what it is now. Keep watching the silver price, it might just be
the tail that wags the economic dog.
CLICK HERE FOR AUDIO INTERVIEW
BrotherJohnF has been calling the current precious metals for a couple
of months now. The markets are displaying much different behaviors than
previously. The Asian market is picking up metals with near reckless
abandon. Silver is crucial to industrial use and there are no government
stock piles. Therefore, when supply gets crimped, prices will sky
rocket. Which explains its volatility when compared to gold. Renewed
silver investment demand could cause the price to rise several multiples
over what it is now. Keep watching the silver price, it might just be
the tail that wags the economic dog.CLICK HERE FOR AUDIO INTERVIEW
by AGXIIK, Silver Doctors:
The hour of reckoning is soon upon us. So I have a suggestion to those who find the heavy hand of a banker or creditor on your neck.
Tell them not no, but “Hell no!” No more of my money will go to your corrupt vaults. I did not sign a suicide pact with a gang of thieves who have conspired to rig my rates, to strip me of my hard earned money and consigned my family to a lifetime of poverty. Hell -No!
If you think my precious FICO means a da*n thing to me you have another thing coming.
Go ahead and destroy my credit rating. See if I care. If you think you can kill me with debt I will kill you with non payment. I will strangle you in your offices with non payment of this wretched debt. You better learn how to eat air, because no more of my money will come your way. None.
The World of Cartels
In the last 4 years we’ve seen banks go from TOO BIG TO FAIL in Bear Sterns; TOO BIG TO BAIL in Lehman then TOO BIG TO JAIL in Barclays Bank. The financial crisis of 2008 was never solved. No bankers were sentenced. No one served time. After $29 trillion in tax payer dollars used to defend this corrupt system, the Fed spent us into fiscal oblivion to rescue the US Banks and the world financial system.
And it accomplished absolutely NOTHING.
Read More @ Silver Doctors
by Bruce Krasting, Bruce Krasting Blog:
Merkel said that Greece was going to stay in the Euro on Friday
Hollande said the same thing on Sunday
Merkel added that all of the folks who have a seat at the table just shut up about Greece (This was a weird one to me)
I don’t get it.
To “fix” Greece, Greece must decouple from the Euro. There is no other option. It is only a question of when, how much it will cost and whom will pay. The EU deciders know that this is true; they just don’t admit to the reality in public. An important question to ask:
Merkel said that Greece was going to stay in the Euro on FridayHollande said the same thing on Sunday
Merkel added that all of the folks who have a seat at the table just shut up about Greece (This was a weird one to me)
I don’t get it.
To “fix” Greece, Greece must decouple from the Euro. There is no other option. It is only a question of when, how much it will cost and whom will pay. The EU deciders know that this is true; they just don’t admit to the reality in public. An important question to ask:
What are the implications to Mario Draghi/the ECB of “Merkande’s” public support for Greece staying with the Euro (and dying) for a few more years?Draghi changed the game on 8/2 when he put the issue of “convertibility” (the risk of a return to legacy currencies) on the table. Markets have been reacting ever since he drew a line in the sand with these carefully chosen words:
Risk premia that are related to fears of the reversibility of the euro are unacceptable, and they need to be addressed in a fundamental manner. The euro is irreversible.Read More @ BruceKrasting.blogspot.com
by Zarathustra, Also Sprach Analyst:
Over the weekend, we pointed out that the old mechanism for the People’s Bank of China to expand its balance sheet and create base money has been broken by new funds flow pattern, and it will sooner or later require some sort of large scale asset purchases programme a.k.a. quantitative easing
to offset the impact of the broken mechanism (after other tools such as
cutting RRR reach their limits). However, we also mentioned that as the
private sector is currently quite overstretched and will start the deleveraging process (if they have not already started),
and that would render traditional monetary tools useless, and
quantitative easing ineffective. And that would necessitate deficit
spending at both local and central government levels.
Quite a number of commentators (particularly those within China) believe that there is no money for the government to spend to offset the current slowdown. Many points to some statistics showing that local governments obviously do not have enough tax revenue to support any large-scale investment projects (as we have mentioned some of the figures here), not to mention that many local governments have also become quite overstretched after the massive credit expansion post-financial crisis.
Read More @ AlsoSprachAnalyst.com
Over the weekend, we pointed out that the old mechanism for the People’s Bank of China to expand its balance sheet and create base money has been broken by new funds flow pattern, and it will sooner or later require some sort of large scale asset purchases programme a.k.a. quantitative easing
to offset the impact of the broken mechanism (after other tools such as
cutting RRR reach their limits). However, we also mentioned that as the
private sector is currently quite overstretched and will start the deleveraging process (if they have not already started),
and that would render traditional monetary tools useless, and
quantitative easing ineffective. And that would necessitate deficit
spending at both local and central government levels.Quite a number of commentators (particularly those within China) believe that there is no money for the government to spend to offset the current slowdown. Many points to some statistics showing that local governments obviously do not have enough tax revenue to support any large-scale investment projects (as we have mentioned some of the figures here), not to mention that many local governments have also become quite overstretched after the massive credit expansion post-financial crisis.
Read More @ AlsoSprachAnalyst.com
Another Consequence Of China's 'Ostrich' Economics: Iron Ore And Coal Set To Plunge Further
The impact of unsustainable production in Chinese Steel-making plants, to avoid the inevitable employment consequences, has created a 'glut'.
This excess inventory will need to be worked through before spot Iron
Ore (and Coking Coal) prices can stabilize. Morgan Stanley believes the
sharp raw material price declines since mid-July followed a collapse in
Chinese steel prices and aggressive margin compression. This is in
turn has resulted in aggressive thrifting of raw material purchases.
More recently, the price declines have accelerated with Chinese re-bar
and HRC prices reaching 33-month lows. In their view, prices
of steel making raw materials can recover in 4Q 2012 and in 2013, but
spot prices for both iron ore and coking coal first have to fall below
the marginal cost of seaborne (not Chinese) production to drive out
the short-term supply overhang - Iron Ore prices could fall 17% further before this 'stabilization' and spot coking coal over 8% from current levels.Futures Leaking As Japan Cuts Economic Assessment And Aussie Home Sales Slump
No sooner had Azumi announced his rather unsurprising admission (via Bloomberg) that:*JAPAN CUTS ASSESSMENT OF DOMESTIC ECONOMY
*AZUMI SAYS HE SEES RISK OF GOVT FUNDS DRYING UP
then Aussie Home Sales came in much weaker than expected (and their lowest in six months). The repatriation of JPY accelerated - dragging JPY higher and snapping all the other majors lower relative to the USD; and AUD weakened significantly (though already priced for some easing). Of course, as a funding pair for everything still, the AUDJPY carry-unwind is weighing on equity futures (though minimally for now).
A Flashing Warning On The "Unintended Consequences" Of Ultra Easy Monetary Policy From... The Fed?!
The case
for ultra easy monetary policies has been well enough made to convince
the central banks of most Advanced Economies to follow such polices.
They have succeeded thus far in avoiding a collapse of both the global
economy and the financial system that supports it. Nevertheless, it is
argued in this stunningly accurate paper via none other than the Dallas Fed (and BIS economist William White), that the capacity of such policies to stimulate “strong, sustainable and balanced growth” in the global economy is limited. Moreover, ultra easy monetary policies have a wide variety of undesirable medium term effects - the unintended consequences. They
create malinvestments in the real economy, threaten the health of
financial institutions and the functioning of financial markets,
constrain the “independent“ pursuit of price stability by central banks,
encourage governments to refrain from confronting sovereign debt
problems in a timely way, and redistribute income and wealth in a highly
regressive fashion. While each medium term effect on its own
might be questioned, considered all together they support strongly the
proposition that aggressive monetary easing in economic downturns is not “a free lunch”. Absolute must read!
by Andrew Hoffman, MilesFranklin.com:
In the early 2000s – when markets were “reasonably” freely-traded – I
constantly surfed Yahoo! Finance chat-rooms, where discourse about
various stocks was ongoing 24/7. Not that all posts were constructive –
far from it – but there was enough intelligent discussion to make them
an integral part of my due diligence process. However, as the “decade
of misery” progressed, financial chat rooms essentially disappeared, the
victim of an ongoing, mass EXODUS from the stock markets…
Strangely, they were largely replaced by political chat – or should I say, ATTACKS. I’m not talking about dedicated political websites, but stock chatrooms, such as Cisco, Newmont Mining, and others. A few dozen posts about Newmont’s mining prospects were replaced by hundreds of vicious, often unsubstantiated ATTACKS – featuring innuendo, propaganda, and lies. Worse yet, such attacks were focused less on specific politicians, than DEMOCRATS VS. REPUBLICANS.
I believe politics are the most divisive institution in HISTORY, blindly beckoning people to believe, against all visible truths. Religion requires faith in things that cannot be proven – and thus, serves a useful role in society. However, politics generate faith in proven liars, thieves, and ne’er do wells, creating mosaics with ZERO relationship to reality.
Read more @ MilesFranklin.com
In the early 2000s – when markets were “reasonably” freely-traded – I
constantly surfed Yahoo! Finance chat-rooms, where discourse about
various stocks was ongoing 24/7. Not that all posts were constructive –
far from it – but there was enough intelligent discussion to make them
an integral part of my due diligence process. However, as the “decade
of misery” progressed, financial chat rooms essentially disappeared, the
victim of an ongoing, mass EXODUS from the stock markets…Strangely, they were largely replaced by political chat – or should I say, ATTACKS. I’m not talking about dedicated political websites, but stock chatrooms, such as Cisco, Newmont Mining, and others. A few dozen posts about Newmont’s mining prospects were replaced by hundreds of vicious, often unsubstantiated ATTACKS – featuring innuendo, propaganda, and lies. Worse yet, such attacks were focused less on specific politicians, than DEMOCRATS VS. REPUBLICANS.
I believe politics are the most divisive institution in HISTORY, blindly beckoning people to believe, against all visible truths. Religion requires faith in things that cannot be proven – and thus, serves a useful role in society. However, politics generate faith in proven liars, thieves, and ne’er do wells, creating mosaics with ZERO relationship to reality.
Read more @ MilesFranklin.com
Did you know that median household income in the United States is
lower today than it was when the last recession supposedly ended? If we
are in the middle of an “economic recovery”, how can this possibly be
happening? Stunning new statistics compiled by Sentier Research
show that the U.S. economy is not nearly as healthy as we have been led
to believe. According to the study that Sentier Research has just
released, median household income in the United States was sitting at $55,470 back in January 2000. In December 2007, when the recession began, it was sitting at $54,916. In June 2009, when the recession supposedly ended, it was sitting at $53,508. Today, it is sitting at $50,964.
This is a long-term trend that is definitely going in the wrong
direction. The fact that median household income in the U.S. is now 4.8
percent lower than it was when the last recession
ended is incredibly disturbing, especially since all of the things that
we buy on a regular basis just keep going up in price. Food, gas,
electricity, car insurance and health insurance all cost a whole lot
more today than they did back in the year 2000, and yet median household
income has dropped 8.1 percent since that time. So what does all of this mean? It means that American families ARE getting poorer.
Yes, the stock market has been soaring, corporate profits have set all-time records in recent years and the big Wall Street banks that were showered with bailout money are absolutely thriving.
But there has been no economic recovery on “Main Street”.
Read More @ TheEconomicCollpaseBlog.com
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Yes, the stock market has been soaring, corporate profits have set all-time records in recent years and the big Wall Street banks that were showered with bailout money are absolutely thriving.
But there has been no economic recovery on “Main Street”.
Read More @ TheEconomicCollpaseBlog.com
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from BenSwannRealityCheck:
Ben Swann Reality Check was given a few minutes with Governor Mitt Romney and Congressman Paul Ryan. Ben asked Romney about the RNC stripping Maine delegates of their credentials. Did Romney answer honestly?
While the gold manipulators are loosing control and precious metals prices are breaking out, the “Doc” from SilverDoctors.com exposes the reality of metals manipulation. But wait! How much longer will we be able to report these issues? Make sure to stay tuned, for, “Doc” reveals how the government is starting to take control of the Internet.
Ben Swann Reality Check was given a few minutes with Governor Mitt Romney and Congressman Paul Ryan. Ben asked Romney about the RNC stripping Maine delegates of their credentials. Did Romney answer honestly?
from Unconventional Finance:
While the gold manipulators are loosing control and precious metals prices are breaking out, the “Doc” from SilverDoctors.com exposes the reality of metals manipulation. But wait! How much longer will we be able to report these issues? Make sure to stay tuned, for, “Doc” reveals how the government is starting to take control of the Internet.
by Doug Casey, Casey Research:
It is a deal with the devil: governments churn out more and more cash
for the promise of continued prosperity. But the day of reckoning is
near, according to Doug Casey, chairman of Casey Research and an expert
on crisis investing. As the epic battle between inflation and deflation
continues, Casey discusses his predictions for the new world market in
this exclusive interview with The Gold Report.
The Gold Report: There will be a Casey Research Summit on “Navigating the Politicized Economy” in Carlsbad, California in September. Investors from around the world look to these summits as future road maps for investing pitfalls and opportunities.
The thesis behind the Summit is that governments have made a Faustian bargain – a pact with the devil – that saves the empire with overspending, but drives it to the brink of collapse by creating fiat currencies.
Doug, where in that story is the economy currently?
Doug Casey: It’s extremely late in the day. Since World War II, and especially since 1971 when the link between the dollar and gold was broken, governments around the world have accepted the Keynesian theory of economics, which boils down to a belief that printing money can stimulate the economy and create prosperity.
Read More @ CaseyResearch.com
from RonPaul2008dotcom:
It is a deal with the devil: governments churn out more and more cash
for the promise of continued prosperity. But the day of reckoning is
near, according to Doug Casey, chairman of Casey Research and an expert
on crisis investing. As the epic battle between inflation and deflation
continues, Casey discusses his predictions for the new world market in
this exclusive interview with The Gold Report.The Gold Report: There will be a Casey Research Summit on “Navigating the Politicized Economy” in Carlsbad, California in September. Investors from around the world look to these summits as future road maps for investing pitfalls and opportunities.
The thesis behind the Summit is that governments have made a Faustian bargain – a pact with the devil – that saves the empire with overspending, but drives it to the brink of collapse by creating fiat currencies.
Doug, where in that story is the economy currently?
Doug Casey: It’s extremely late in the day. Since World War II, and especially since 1971 when the link between the dollar and gold was broken, governments around the world have accepted the Keynesian theory of economics, which boils down to a belief that printing money can stimulate the economy and create prosperity.
Read More @ CaseyResearch.com
from RonPaul2008dotcom:
by Mac Slavo, SHTFPlan:
A group of soldiers who started an ‘anarchist militia’ had plans to overthrow the US government and were targeting President Obama according to court proceedings in Georgia:
Four US soldiers plotted to assassinate Barack Obama and overthrow the government, a court has heard.
Department of Homeland Security is likely drafting an emergency communique to federal and local law enforcement outlining ever more reasons for why veterans and active military personnel should be monitored, investigated and indefinitely detained as potential domestic terrorists.
Read More @ SHTFPlan.com
A group of soldiers who started an ‘anarchist militia’ had plans to overthrow the US government and were targeting President Obama according to court proceedings in Georgia:
Four US soldiers plotted to assassinate Barack Obama and overthrow the government, a court has heard.
One, private Michael Burnett, has pleaded guilty to
manslaughter and gang charges in the killings last December of former
soldier Michael Roark and his girlfriend, 17-year-old Tiffany York.
Burnett said that Roark, who had just left the army,
knew of the militia group’s plans and was killed because he was “a loose
end.”
Prosecutor Isabel Pauley said the group bought
$87,000 (£55,000) of guns and bomb-making materials and plotted to take
over Fort Stewart, bomb targets in Savannah and Washington state, as
well as assassinate the president. Source: Associated Press
Other than the AP report cited above, no other details of the
assassination plot, the court case, or the attempted Coup d’état have
been made available at this time.Department of Homeland Security is likely drafting an emergency communique to federal and local law enforcement outlining ever more reasons for why veterans and active military personnel should be monitored, investigated and indefinitely detained as potential domestic terrorists.
Read More @ SHTFPlan.com
by Susanne Posel, Occupy Corporatism:
After Special Justice Walter Douglas Stokes sentenced former US Marine
Brandon Raub to 30 days detention in the psychiatric ward of the
Veterans Hospital, Circuit Court Judge Allan Sharrett dismissed
the case citing that the original petition was “devoid of any factual
allegations that it could not be reasonably expected to give rise to a
case or controversy.”
John Whitehead, attorney for the Rutherford Institute and Raub has stated that since the former Marine’s detention case, he has received numerous stated from other veterans who are being discriminated against. The latest trend is to have our former US service men and women declared mentally ill and detained against their will.
Just as Raub was forcibly detained in a mental ward, another veteran has been taken without charge or criminal activity. His firearms were confiscated and he was given a court date.
In a study published in the Archives of Internal Medicine, collaborating with the VA Medical Center, an estimated 1/3rd of veterans returning from Afghanistan and Iraq were determined to be mentally or psychologically ill.
Read More @ OccupyCorporatism.com
Reverse Double Think – John Birch Society, Speech by Robert Welch in 1958
Robert Henry Winborne Welch Jr. (December 1, 1899 – January 6, 1985) was an American businessman, political activist and author. He was independently wealthy following his retirement and used that wealth to sponsor anti-communist causes. He co-founded the conservative group the John Birch Society (JBS) in 1958 and tightly controlled it until his death.
After Special Justice Walter Douglas Stokes sentenced former US Marine
Brandon Raub to 30 days detention in the psychiatric ward of the
Veterans Hospital, Circuit Court Judge Allan Sharrett dismissed
the case citing that the original petition was “devoid of any factual
allegations that it could not be reasonably expected to give rise to a
case or controversy.”John Whitehead, attorney for the Rutherford Institute and Raub has stated that since the former Marine’s detention case, he has received numerous stated from other veterans who are being discriminated against. The latest trend is to have our former US service men and women declared mentally ill and detained against their will.
Just as Raub was forcibly detained in a mental ward, another veteran has been taken without charge or criminal activity. His firearms were confiscated and he was given a court date.
In a study published in the Archives of Internal Medicine, collaborating with the VA Medical Center, an estimated 1/3rd of veterans returning from Afghanistan and Iraq were determined to be mentally or psychologically ill.
Read More @ OccupyCorporatism.com
from AnotherBoringWeek:
Reverse Double Think – John Birch Society, Speech by Robert Welch in 1958
Robert Henry Winborne Welch Jr. (December 1, 1899 – January 6, 1985) was an American businessman, political activist and author. He was independently wealthy following his retirement and used that wealth to sponsor anti-communist causes. He co-founded the conservative group the John Birch Society (JBS) in 1958 and tightly controlled it until his death.
by John Mauldin, Gold Seek:
There is something missing from this thing we are calling a recovery.
For most in the US it does not feel like a recovery, and for good
reason: the jobs aren’t there. But for some groups it is a recovery, and
more. And that reveals an even bigger problem. Today, in a
summer-shortened Thoughts from the Frontline, we look at the trends in
employment as well as take note of a signpost we passed on the way to
finding out that we can’t pay for all the future entitlements we have
been promised. It’s a short letter but hopefully thought-provoking. At
the end, I note a webinar and a few speeches I’ll be giving in the near
future.
How Are You Going to Keep Them Down on the Farm?
Last spring, I mentioned I was working on a book on employment with Bill Dunkelberg, the Chief Economist for the National Federation of Independent Businesses. We were hoping to get it out by this fall. In the process of researching the topic, I began to see some new patterns in the employment trends that suggest we may be going through a generational transformation, led by both demographics and technology. And while it is ultimately positive, the transition will be harder on some groups than others. In the next few months we will take some time to explore these new trends, but let me quickly lay out a few areas for discussion.
Read More @ GoldSeek.com
There is something missing from this thing we are calling a recovery.
For most in the US it does not feel like a recovery, and for good
reason: the jobs aren’t there. But for some groups it is a recovery, and
more. And that reveals an even bigger problem. Today, in a
summer-shortened Thoughts from the Frontline, we look at the trends in
employment as well as take note of a signpost we passed on the way to
finding out that we can’t pay for all the future entitlements we have
been promised. It’s a short letter but hopefully thought-provoking. At
the end, I note a webinar and a few speeches I’ll be giving in the near
future.How Are You Going to Keep Them Down on the Farm?
Last spring, I mentioned I was working on a book on employment with Bill Dunkelberg, the Chief Economist for the National Federation of Independent Businesses. We were hoping to get it out by this fall. In the process of researching the topic, I began to see some new patterns in the employment trends that suggest we may be going through a generational transformation, led by both demographics and technology. And while it is ultimately positive, the transition will be harder on some groups than others. In the next few months we will take some time to explore these new trends, but let me quickly lay out a few areas for discussion.
Read More @ GoldSeek.com
by Bill Holter, MilesFranklin.com:
Do you remember back in the late 1980′s when “Japan is going to take over the world” was all the rage? The Japanese had so much money that they bought US gem properties such as Pebble Beach and Rockefeller Center only to lose them just a few years later as their borrowed “pump” money started to dry up. Now, enter China, they have supplanted Japan as the biggest creditor to the US and our largest “trade for Dollars” partner.
China bubble in ‘danger zone’ warns Bank of Japan – The Telegraph
If you look at the Chinese stock market, it looks very much like Japan’s did back in 1993 or so, it is down some 70% from the 2007-08 peak and now making new lows. Their trade surpluses and industrial productions are down no matter “what” they say officially, all you need to do is look at the electricity use to know that they too are entering recession with the rest of the world.
The huge amount of US Treasury securities owned by the Chinese is a well known fact but not one that many have connected the dots with yet. We do know that the Chinese have definitely slowed their purchases of Treasuries but “no big deal” seems to be the reaction as we have “The Bernank” and his ability to print and buy.
Read more @ MilesFranklin.com
Do you remember back in the late 1980′s when “Japan is going to take over the world” was all the rage? The Japanese had so much money that they bought US gem properties such as Pebble Beach and Rockefeller Center only to lose them just a few years later as their borrowed “pump” money started to dry up. Now, enter China, they have supplanted Japan as the biggest creditor to the US and our largest “trade for Dollars” partner.
China bubble in ‘danger zone’ warns Bank of Japan – The Telegraph
If you look at the Chinese stock market, it looks very much like Japan’s did back in 1993 or so, it is down some 70% from the 2007-08 peak and now making new lows. Their trade surpluses and industrial productions are down no matter “what” they say officially, all you need to do is look at the electricity use to know that they too are entering recession with the rest of the world.
The huge amount of US Treasury securities owned by the Chinese is a well known fact but not one that many have connected the dots with yet. We do know that the Chinese have definitely slowed their purchases of Treasuries but “no big deal” seems to be the reaction as we have “The Bernank” and his ability to print and buy.
Read more @ MilesFranklin.com
by Mike Adams, Natural News:
Hurricane Isaac doesn’t look to be anywhere near the strength that
Katrina demonstrated seven years ago, but it nevertheless has much of
the Gulf Coast preparing for emergency. Louisiana, Mississippi and
Alabama are all in declared states of emergency right now, and citizens
in many cities have been urged to evacuate.
Isaac’s track indicates it could make landfall right smack in the middle of New Orleans — precisely where Katrina hit seven years ago, causing over $100 billion in economic damage to the region. See the estimated storm track at:
http://www.nhc.noaa.gov/storm_graphics/AT09/AL0912W5.gif
Landfall is estimated to take place Tuesday evening, with the really heavy winds tearing through New Orleans Tuesday night.
It is perhaps the recent memory of Katrina that has so many people taking such active precautions now. It might even be overkill, given that Isaac is barely a category 1 hurricane and will only have top winds of around 90 mph according to meteorological estimates. Isaac may turn out to be the “big dud” hurricane of 2012.
Read More @ NaturalNews.com
by Mike Shedlock, Global Economic Analysis:
Will Merkel get her wish for a Unites States of Europe led by
nannycrats in Brussels? I suspect not because a vote would likely go up
in flames. Nonetheless, Merkel Pushes for Convention to Draft New EU Treaty
Hurricane Isaac doesn’t look to be anywhere near the strength that
Katrina demonstrated seven years ago, but it nevertheless has much of
the Gulf Coast preparing for emergency. Louisiana, Mississippi and
Alabama are all in declared states of emergency right now, and citizens
in many cities have been urged to evacuate.Isaac’s track indicates it could make landfall right smack in the middle of New Orleans — precisely where Katrina hit seven years ago, causing over $100 billion in economic damage to the region. See the estimated storm track at:
http://www.nhc.noaa.gov/storm_graphics/AT09/AL0912W5.gif
Landfall is estimated to take place Tuesday evening, with the really heavy winds tearing through New Orleans Tuesday night.
It is perhaps the recent memory of Katrina that has so many people taking such active precautions now. It might even be overkill, given that Isaac is barely a category 1 hurricane and will only have top winds of around 90 mph according to meteorological estimates. Isaac may turn out to be the “big dud” hurricane of 2012.
Read More @ NaturalNews.com
Will Merkel get her wish for a Unites States of Europe led by
nannycrats in Brussels? I suspect not because a vote would likely go up
in flames. Nonetheless, Merkel Pushes for Convention to Draft New EU TreatyChancellor Angela Merkel’s plans for a new treaty governing the European Union are becoming more concrete. SPIEGEL has learned that the German leader wants the EU to begin working on a draft this year, with the aim of providing Brussels with greater power to monitor budgets. But many countries are deeply opposed to the idea.Read More @ GlobalEconomicAnalysis.blogspot.com
A date for the beginning of the convention is expected to be fixed at an EU summit in December. Merkel has been pushing for some time now to complement the recently approved fiscal pact, which harmonizes budget policies within 25 of the EU’s 27 countries, with a political union. Germany would like to see, for example, a legal basis that would give the European Court of Justice the jurisdiction to monitor the budgets of member states and to punish deficit offenders.
A
super bullish long term future for gold is Jeff Nichols’ vision for the
yellow metal, yet he reckons to be not a gold bug, but a dispassionate
economic analyst – and still comes to this conclusion.
by Lawrence Williams, MineWeb.com
Mineweb
readers may have seen, from time to time, articles by Jeff Nichols of
American Precious Metals Advisors – in this writer’s opinion one of the
more measured commentators on gold. In his latest remarks on the yellow
metal he tells his followers that he is not a gold bug, but
nevertheless he is still unwaveringly bullish on the precious metal’s
prospects for at least a few more years yet.
So what is the difference between a gold bug and someone like Nichols who is just bullish on gold. The key is that as Nichols says, he actually sees nothing magical about gold, he does not attribute miraculous powers to it and doubts that it can return to its onetime historical role as providing the backing for the word’s major currencies. He says that he is just a dispassionate economist, analyst, and observer of the U.S. and global economic, political, societal, and demographic trends – and it is only as such does he see a super-bullish long term future for gold.
Read More @ MineWeb.com
by Lawrence Williams, MineWeb.com
Mineweb
readers may have seen, from time to time, articles by Jeff Nichols of
American Precious Metals Advisors – in this writer’s opinion one of the
more measured commentators on gold. In his latest remarks on the yellow
metal he tells his followers that he is not a gold bug, but
nevertheless he is still unwaveringly bullish on the precious metal’s
prospects for at least a few more years yet.So what is the difference between a gold bug and someone like Nichols who is just bullish on gold. The key is that as Nichols says, he actually sees nothing magical about gold, he does not attribute miraculous powers to it and doubts that it can return to its onetime historical role as providing the backing for the word’s major currencies. He says that he is just a dispassionate economist, analyst, and observer of the U.S. and global economic, political, societal, and demographic trends – and it is only as such does he see a super-bullish long term future for gold.
Read More @ MineWeb.com
from KingWorldNews:
Today four-decade veteran John Hathaway spoke with King World News about what a prominent Fed watcher, and friend of his, warned him about: “Here’s a guy who’s been watching the Fed since 1970, maybe longer, and he said, ‘They are in danger of losing their credibility.’ When you think about it, the dollar, as Jim Grant has always put it, is a ‘faith-based currency.’ The credibility of the Fed is integral to that confidence the world has in the dollar, and the dollar’s value.”
The prolific manager of the Tocqueville Gold Fund also said, “So if that credibility, which I think is shot, once that veil of confidence is removed, you just don’t know what the market reactions could be.” Hathaway also discussed the recent action in gold: “It’s characteristic of bull markets that when they enter their most dynamic reversals or breakouts, nobody is on board. And it almost has to be that way because who is going to buy at the top?”
Here is what Hathaway had to say: “Back in February, he (Bernanke) gave testimony before Congress that said, ‘Further QE is off the table.’ That was a very significant moment because gold got hammered once he made that statement. Since then, there were several other occasions where, either through the Fed minutes or in Congressional testimony, he said, ‘No more QE.’”
John Hathaway continues @ KingWorldNews.com
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Today four-decade veteran John Hathaway spoke with King World News about what a prominent Fed watcher, and friend of his, warned him about: “Here’s a guy who’s been watching the Fed since 1970, maybe longer, and he said, ‘They are in danger of losing their credibility.’ When you think about it, the dollar, as Jim Grant has always put it, is a ‘faith-based currency.’ The credibility of the Fed is integral to that confidence the world has in the dollar, and the dollar’s value.”
The prolific manager of the Tocqueville Gold Fund also said, “So if that credibility, which I think is shot, once that veil of confidence is removed, you just don’t know what the market reactions could be.” Hathaway also discussed the recent action in gold: “It’s characteristic of bull markets that when they enter their most dynamic reversals or breakouts, nobody is on board. And it almost has to be that way because who is going to buy at the top?”
Here is what Hathaway had to say: “Back in February, he (Bernanke) gave testimony before Congress that said, ‘Further QE is off the table.’ That was a very significant moment because gold got hammered once he made that statement. Since then, there were several other occasions where, either through the Fed minutes or in Congressional testimony, he said, ‘No more QE.’”
John Hathaway continues @ KingWorldNews.com
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