What To Expect From "The Bernank" At Jackson Hole...
With the world's suckers
investors (CEOs, politicians, and peons alike) all hanging on every
word the man-behind-the-curtain has to say on Friday, Stone &
McCarthy has crafted an excellent 'what-if' of key takeaways and
interpretations ahead of Friday's Jackson Hole Symposium speech by
Bernanke. Will Draghi toe the line? Will China be pissed? and what rhymes with J-Hole? On
balance, we think Bernanke will save the policy directives for the
FOMC meeting (potentially disappointing the market) while highlighting
that the Committee is vigilant and flexible, and ready to act.
With the world's suckers
investors (CEOs, politicians, and peons alike) all hanging on every
word the man-behind-the-curtain has to say on Friday, Stone &
McCarthy has crafted an excellent 'what-if' of key takeaways and
interpretations ahead of Friday's Jackson Hole Symposium speech by
Bernanke. Will Draghi toe the line? Will China be pissed? and what rhymes with J-Hole? On
balance, we think Bernanke will save the policy directives for the
FOMC meeting (potentially disappointing the market) while highlighting
that the Committee is vigilant and flexible, and ready to act.Ron Hera-We’re at 2008 crash levels
“We’re at 2008 crash levels,” says Ron Hera of Heraresearch.com. Hera thinks, “The dollar has been artificially strong . . . the dollar is due for a sharp decline.” The Federal Reserve is likely to start printing money soon to spur the economy, and that will add to already rising commodity prices. Hera says, “Silver is massively undervalued. A smart investor would just buy silver and wait for the supply/demand fundamentals . . . to cause the price to rise.” Rising food prices are especially troubling to Hera because of their negative impact on global stability. He says, “Spiking corn, wheat and soybean prices” are leading to “political instability on a large scale.” Join Greg Hunter as he goes One-on-One with Ron Hera.
from KingWorldNews:
“I am sniffing that there’s going to be a day when those central banks
that are leasing it, realize they won’t get it back, are going to put
up the sign and say, ‘No mas. We’re not going to sell any more. We’ve
lost this game.’ (They will ask themselves) what are we doing here?
Why do we keep suppressing the price of gold?
Everyone knows there’s a financial crisis going on. And if they (central banks that have leased out gold) ever try to get it back, they’ll never get it back, and who knows where the price of gold can go, but it can go a long, long way from here.
I argue that there is 6,500 tons of demand and 4,000 tons of supply (each year), and the extra 2,500 tons is coming out of central banks that are leasing it. Imagine if they just stopped leasing it. Who knows where the price would go? You would get such chaos (disorderly upside trading in gold).
LISTEN NOW @ KingWorldNews.com
“I am sniffing that there’s going to be a day when those central banks
that are leasing it, realize they won’t get it back, are going to put
up the sign and say, ‘No mas. We’re not going to sell any more. We’ve
lost this game.’ (They will ask themselves) what are we doing here?
Why do we keep suppressing the price of gold? Everyone knows there’s a financial crisis going on. And if they (central banks that have leased out gold) ever try to get it back, they’ll never get it back, and who knows where the price of gold can go, but it can go a long, long way from here.
I argue that there is 6,500 tons of demand and 4,000 tons of supply (each year), and the extra 2,500 tons is coming out of central banks that are leasing it. Imagine if they just stopped leasing it. Who knows where the price would go? You would get such chaos (disorderly upside trading in gold).
LISTEN NOW @ KingWorldNews.com
Gold and silver off to the races?
Gold and silver prices posted very strong finishes to the end of last
week, and look like they could at long last be at the start of a
significant trending move higher. Gold gained 3.46% over the week, with
silver recording an impressive 8.98% weekly gain. The white metal has
broken above an important resistance level at $30, and judging from the
price action this morning looks like it could launch a quick assault on
$32.50 – a level that marked stubborn resistance for much of the first
half of this year.Over at KingWorldNews, commodity guru Dan Norcini notes the rash of short covering that took place in the silver market last week. He points to $35-$35.50 as the last “line in the sand” for these speculative shorts, and thinks that we could see a huge new influx of money on the long side of the market if this price level is bested. $40 will then be in play again.
The story is similar in gold. If the yellow metal rises above $1,700, we can expect to see speculators dashing to cover their short positions. Aside from the increasing likelihood that the Federal Reserve is getting ready to launch another money printing scheme within the next few weeks, gold bugs have also been encouraged by chatter about the Republican National Convention (due to meet in Tampa this week, barring problems with hurricanes) including a plank in the convention platform calling for a “gold commission” to study the feasibility of relinking the US dollar to gold.
Read More @ GoldMoney.com
by Mike Adams, Natural News:
There is good reason for legitimate optimism right now, even in the face of an approaching financial collapse and the rise of the new American police state. It sounds contradictory, but there is a silver lining to all this. There’s a catch, however: The silver lining only applies to those who learn how to get out of the way of the “social tsunami” that will be unleashed. I’ll explain that in more detail later in this article.
To explain that, we first have to address the issue of FEMA camps. Publicly described as “refugee camps,” FEMA camps have a reputation among the “awakened” community as being concentration camps. There is evidence that FEMA camps are stockpiling huge numbers of cadaver incineration containers (http://tv.naturalnews.com/v.asp?v=C67234C7049D2AB2F3D897B805FEFEC2). The recent purchase of 1.4 billion rounds of ammunition by the DHS also indicates a massive amount of firepower is about to be directed at the American population. (http://www.naturalnews.com/036847_ammo_purchases_government_stockpili…)
But let’s analyze this rationally, and let’s look at both “best case” and “worst case” scenarios for these FEMA camps.
Read More @ NaturalNews.com
There is good reason for legitimate optimism right now, even in the face of an approaching financial collapse and the rise of the new American police state. It sounds contradictory, but there is a silver lining to all this. There’s a catch, however: The silver lining only applies to those who learn how to get out of the way of the “social tsunami” that will be unleashed. I’ll explain that in more detail later in this article.
To explain that, we first have to address the issue of FEMA camps. Publicly described as “refugee camps,” FEMA camps have a reputation among the “awakened” community as being concentration camps. There is evidence that FEMA camps are stockpiling huge numbers of cadaver incineration containers (http://tv.naturalnews.com/v.asp?v=C67234C7049D2AB2F3D897B805FEFEC2). The recent purchase of 1.4 billion rounds of ammunition by the DHS also indicates a massive amount of firepower is about to be directed at the American population. (http://www.naturalnews.com/036847_ammo_purchases_government_stockpili…)
But let’s analyze this rationally, and let’s look at both “best case” and “worst case” scenarios for these FEMA camps.
Read More @ NaturalNews.com
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I'm PayPal VerifiedWhen It All Goes Bidless: What Losing $1 Billion In 100 Milliseconds Looks LIke
It's quiet out there; too quiet. But if you were watching carefully this morning, everyone's favorite government-subsidized bank - Citigroup - flash-crashed to the tune of a $1.2bn market-cap loss in a fraction under 100 milliseconds. A 1.3% micro-crash on absolutely massive volume so perfectly visualized thanks to Nanex. When does this 'liquidity-providing' fiasco stop?The Deficit Will Go Up
Admin at Marc Faber Blog - 1 hour ago
The deficit is $1.3 trillion and, in my view, will go up. - *in Catholic.org
*
*Marc Faber is an international investor known for his uncanny predictions
of the stock market and futures markets around the world.*Protect The Banks At All Costs
Welcome
to the new America — where banks must be protected at all costs.
Whether it’s a bailout or a trumped up charge to silence a protestor,
if the banks want it, they get it. The district attorney in the case has dropped the charge of attempted robbery. However, a terroristic threat charge remains. Meanwhile, the economic evidence is mounting that countries that want to recover need to tell the banks to take a hike.Europe Regurgitates Its Schrodinger Monetary Bazooka Policy
It seems the 'we -really-want-it-but please-don't-blame-us-when-it-all-goes-pear-shaped' meme continues in Europe as ECB's Asmussen adds his own peculiar mix of talking out of both sides of his mouth, (via Bloomberg):- *ASMUSSEN SAYS DOUBTS ABOUT EURO'S SURVIVAL UNACCEPTABLE FOR ECB
- *ASMUSSEN: ECB STILL WORKING ON DETAILS OF BOND PLAN, WILL ADDRESS SENIORITY CONCERNS
- *ASMUSSEN: ECB WILL STRICTLY SEPARATE MON. POL., SUPERVISION ROLES
- *ASMUSSEN SAYS ECB CAN'T PAY FOR FISCAL POLICY MISTAKES
- *ASMUSSEN: WE WON'T TAKE SUPERVISOR RESPONSIBILITY WITHOUT TOOLS
- *ASMUSSEN SAYS HE PREFERS BAILOUT FUND TO BUY BONDS BEFORE ECB
European Stocks Close Green With Credit 'Reality-Check' On Vacation
With
London closed, the market's 'police' were away and so the mice played.
Credit markets (sovereign and corporate) went absolutely nowhere as
trading was minimal to negligible but equities just could not help
themselves as the path of least resistance was to retraced back up from
Friday's loss. The move in European equities is simply catch up to
Friday's post-European-close levitation in the US (admittedly with a
little higher beta) and volume was as dismal as one would expect. FX
markets are also dead with EURUSD up only 5 pips at the EU close -
having traded in a 40 pip range since it opened on Sunday night (most of
which was around the Asian and European data releases). Quiet - in a word - with reality returning tomorrow as London's credit traders come back.
by Pater Tenebrarum, Acting-Man.com:
Angling for Votes
In an attempt to take the wind out of the sails of Ron Paul supporters and fish for their votes, Mitt Romney has become a vocal critic of Ben Bernanke and the Fed, with the latest idea being floated that the GOP is thinking of a ‘return to the gold standard’. Yeah, right. And we have a certain bridge in Brooklyn for sale.
Anyway, the idea has immediately led to a manning of the anti-gold barricades by a broad swathe of statists and people who simply don’t know any better. After decades of statist propaganda and outright lies about the alleged necessity of a fast growing money supply and the ‘beneficial effects’ of maintaining a centrally planned money system which lowers the purchasing power of money at a steady rate to the advantage of bankers and the detriment of savers, a depressingly large number of people have become convinced that it is all for the best.
Never mind that the central planners have brought us such lovely events as the Great Depression, the secular inflationary contraction of the 1970′s, the tech boom-bust and most recently the ‘biggest financial and economic crisis since the depression’. If their ‘flexible currency’ and their interest rate fixing are so great, then why did we suffer several of the biggest economic catastrophes in all of history under their watch?
Read More @ Acting-Man.com
from, Reuters:
U.S. Republicans have all but guaranteed the backing of the “gold vote”
this November by raising an idea that even the most bullish mainstream
bullion boosters believe is unrealistic – a return to the gold standard.
Gold prices would likely surge to $10,000 an ounce, the greenback’s credibility would vanish and global superpowers would risk a new trade war if Republicans were to restore the link between the U.S. dollar and gold that was severed 40 years ago.
But that isn’t stopping Republicans from considering the idea, who will call for a commission to look at restoring a fixed value for the dollar, according to a draft of the party platform to be adopted at the Republican National Convention that begins on Monday in Tampa, Florida.
Gold has returned to the political discourse recently with the growing prominence of politicians like Ron Paul, the congressman from Texas who has said that he decided to enter politics on the day that President Richard Nixon shut the “gold window” in 1971, and with the Tea Party, which helped Utah pass a law last year to make gold legal tender.
Read More @ Reuters
Angling for VotesIn an attempt to take the wind out of the sails of Ron Paul supporters and fish for their votes, Mitt Romney has become a vocal critic of Ben Bernanke and the Fed, with the latest idea being floated that the GOP is thinking of a ‘return to the gold standard’. Yeah, right. And we have a certain bridge in Brooklyn for sale.
Anyway, the idea has immediately led to a manning of the anti-gold barricades by a broad swathe of statists and people who simply don’t know any better. After decades of statist propaganda and outright lies about the alleged necessity of a fast growing money supply and the ‘beneficial effects’ of maintaining a centrally planned money system which lowers the purchasing power of money at a steady rate to the advantage of bankers and the detriment of savers, a depressingly large number of people have become convinced that it is all for the best.
Never mind that the central planners have brought us such lovely events as the Great Depression, the secular inflationary contraction of the 1970′s, the tech boom-bust and most recently the ‘biggest financial and economic crisis since the depression’. If their ‘flexible currency’ and their interest rate fixing are so great, then why did we suffer several of the biggest economic catastrophes in all of history under their watch?
Read More @ Acting-Man.com
U.S. Republicans have all but guaranteed the backing of the “gold vote”
this November by raising an idea that even the most bullish mainstream
bullion boosters believe is unrealistic – a return to the gold standard.Gold prices would likely surge to $10,000 an ounce, the greenback’s credibility would vanish and global superpowers would risk a new trade war if Republicans were to restore the link between the U.S. dollar and gold that was severed 40 years ago.
But that isn’t stopping Republicans from considering the idea, who will call for a commission to look at restoring a fixed value for the dollar, according to a draft of the party platform to be adopted at the Republican National Convention that begins on Monday in Tampa, Florida.
Gold has returned to the political discourse recently with the growing prominence of politicians like Ron Paul, the congressman from Texas who has said that he decided to enter politics on the day that President Richard Nixon shut the “gold window” in 1971, and with the Tea Party, which helped Utah pass a law last year to make gold legal tender.
Read More @ Reuters
by Charles Hugh Smith, Of Two Minds:
The
Federal Reserve is a wealth transfer machine, skimming wealth from the
productive many and transferring it to the parasitic few.
Today I launch a series entitled “The Rot Runs Deep” that examines the moral and financial rot at the core of American finance, politics and culture. We have reached a unique junction of American history: the confluence of Big Lie propaganda, neofeudalism and the worship of false financial gods.
The Big Lie propaganda machine of corporate media and the Central State has perfected Orwell’s nightmare vision of centralized media and a fascist centralized State which turn lies into self-serving “truth.”
Since the Federal Reserve is once again expected to “save” a crumbling, exploitative Status Quo, let’s use the Fed as an example. The propaganda machine would have us believe that the Federal Reserve, the privately owned central bank of the U.S., has “saved” the Status Quo from financial ruin on numerous occasions by “smoothing out” the business cycle (credit expands and contracts) and by “stimulating aggregate demand” by lowering interest rates and pumping money into the economy (quantitative easing).
Read More @ OfTwoMinds.com
The
Federal Reserve is a wealth transfer machine, skimming wealth from the
productive many and transferring it to the parasitic few.Today I launch a series entitled “The Rot Runs Deep” that examines the moral and financial rot at the core of American finance, politics and culture. We have reached a unique junction of American history: the confluence of Big Lie propaganda, neofeudalism and the worship of false financial gods.
The Big Lie propaganda machine of corporate media and the Central State has perfected Orwell’s nightmare vision of centralized media and a fascist centralized State which turn lies into self-serving “truth.”
Since the Federal Reserve is once again expected to “save” a crumbling, exploitative Status Quo, let’s use the Fed as an example. The propaganda machine would have us believe that the Federal Reserve, the privately owned central bank of the U.S., has “saved” the Status Quo from financial ruin on numerous occasions by “smoothing out” the business cycle (credit expands and contracts) and by “stimulating aggregate demand” by lowering interest rates and pumping money into the economy (quantitative easing).
Read More @ OfTwoMinds.com
by E.J. Dionne, Jr., Truth Dig:
In 1964, George Romney, then the governor of Michigan, walked out of
the Republican National Convention during Barry Goldwater’s acceptance
speech. He was protesting his party’s sharp turn rightward and its weak
platform plank on civil rights.
This week, 48 years on, Mitt Romney is set to achieve what his father never could. But this great family triumph will not represent a vindication of his father’s principles. Mitt Romney reached the summit not by battling the GOP’s staunchest conservatives but by accommodating them. Nothing better captures the absolute victory of the forces of Goldwaterism than a Romney triumph on the basis of Goldwater’s ideas.
There will certainly be no speeches akin to the one offered by Nelson Rockefeller, the champion of liberal Republicanism. He was booed and hissed by the Goldwater legions who dominated the 1964 gathering.
Scorning the militants of a new right, Rockefeller pronounced their views “wholly alien to the sound and honest conservatism that has firmly based the Republican Party in the best of a century’s traditions, wholly alien to the sound and honest Republican liberalism that has kept the party abreast of human needs in a changing world, wholly alien to the broad middle course that accommodates the mainstream of Republican principles.”
Read More @ TruthDig.com
In 1964, George Romney, then the governor of Michigan, walked out of
the Republican National Convention during Barry Goldwater’s acceptance
speech. He was protesting his party’s sharp turn rightward and its weak
platform plank on civil rights.This week, 48 years on, Mitt Romney is set to achieve what his father never could. But this great family triumph will not represent a vindication of his father’s principles. Mitt Romney reached the summit not by battling the GOP’s staunchest conservatives but by accommodating them. Nothing better captures the absolute victory of the forces of Goldwaterism than a Romney triumph on the basis of Goldwater’s ideas.
There will certainly be no speeches akin to the one offered by Nelson Rockefeller, the champion of liberal Republicanism. He was booed and hissed by the Goldwater legions who dominated the 1964 gathering.
Scorning the militants of a new right, Rockefeller pronounced their views “wholly alien to the sound and honest conservatism that has firmly based the Republican Party in the best of a century’s traditions, wholly alien to the sound and honest Republican liberalism that has kept the party abreast of human needs in a changing world, wholly alien to the broad middle course that accommodates the mainstream of Republican principles.”
Read More @ TruthDig.com
by Ron Holland, The Daily Bell:
“Everybody’s going to war but we don’t know what we are fighting for.” – Nerina Pallot, “Everybody’s Gone to War“
Iran Wants War
Although a peaceful nation for hundreds of years, Iran was invaded and occupied by the Allies in both World War One and Two. Then in 1980, at the urging of the United States, Saddam Hussein invaded them and used poison gas against both Kurds and Iran. Over 500,000 civilians, Iranian and Iraqi soldiers died in the longest war of the 20th century, which lasted until 1988.
Iran wants war because they believe they can withstand an Israel and US air assault and that unless they are invaded and occupied they can claim victory. No Middle East nation has ever been victorious against either the US or Israel and to declare victory against both will make Iran the leading nation across the entire region, at least for the people in the street. An Israel/US assault would also solve growing domestic political problems against the regime.
Read More @ TheDailyBell.com
“Everybody’s going to war but we don’t know what we are fighting for.” – Nerina Pallot, “Everybody’s Gone to War“Iran Wants War
Although a peaceful nation for hundreds of years, Iran was invaded and occupied by the Allies in both World War One and Two. Then in 1980, at the urging of the United States, Saddam Hussein invaded them and used poison gas against both Kurds and Iran. Over 500,000 civilians, Iranian and Iraqi soldiers died in the longest war of the 20th century, which lasted until 1988.
Iran wants war because they believe they can withstand an Israel and US air assault and that unless they are invaded and occupied they can claim victory. No Middle East nation has ever been victorious against either the US or Israel and to declare victory against both will make Iran the leading nation across the entire region, at least for the people in the street. An Israel/US assault would also solve growing domestic political problems against the regime.
Read More @ TheDailyBell.com
by Chriss Street, Testosterone Pit.com:
Rural Northern California has always been the great bastion where
solidly conservative Republicans go to escape the Democrats’ nanny
state. Political discourse is focused on family values, support of
agriculture, gun rights and a visceral loathing of crony capitalists
like Al Gore. That’s why the shenanigans of Shasta County Supervisor
Glen Hawes are about to give the Republican Party such a black eye.
Seven years ago Reverge Anselmo left the Los Angeles rat race, to build a world class winery and cattle ranch just outside Redding, California. As a former combat Marine, international businessman and son of the founder of the Univision media empire, Anselmo began investing tens of millions into the depressed rural economy. A deeply religious man, Anselmo even worked with the Vatican to design and construct a Romanesque Catholic Chapel on the highest point of his vineyards as a place of personal worship and reflection for visiting monks.
But just as Anselmo Winery picked their second harvest on October 16, 2007, Andrew Jenson of the Shasta County office of the California Water Quality Control Board came on the property and issued a “stop-order” for all agricultural operations. Mr. Jenson demanded that Mr. Anselmo immediately spend over $10,000 on erosion control at various parts of the ranch. Shortly thereafter, Mr. Jenson issued clean-up and abatement Order #729, demanding tens of thousands of expenditures and threatening daily fines of $10,000 to $25,000.
Read More @ TestosteronePit.com
Rural Northern California has always been the great bastion where
solidly conservative Republicans go to escape the Democrats’ nanny
state. Political discourse is focused on family values, support of
agriculture, gun rights and a visceral loathing of crony capitalists
like Al Gore. That’s why the shenanigans of Shasta County Supervisor
Glen Hawes are about to give the Republican Party such a black eye. Seven years ago Reverge Anselmo left the Los Angeles rat race, to build a world class winery and cattle ranch just outside Redding, California. As a former combat Marine, international businessman and son of the founder of the Univision media empire, Anselmo began investing tens of millions into the depressed rural economy. A deeply religious man, Anselmo even worked with the Vatican to design and construct a Romanesque Catholic Chapel on the highest point of his vineyards as a place of personal worship and reflection for visiting monks.
But just as Anselmo Winery picked their second harvest on October 16, 2007, Andrew Jenson of the Shasta County office of the California Water Quality Control Board came on the property and issued a “stop-order” for all agricultural operations. Mr. Jenson demanded that Mr. Anselmo immediately spend over $10,000 on erosion control at various parts of the ranch. Shortly thereafter, Mr. Jenson issued clean-up and abatement Order #729, demanding tens of thousands of expenditures and threatening daily fines of $10,000 to $25,000.
Read More @ TestosteronePit.com
by Rafał Rudowski, Financial Sense:
Jim welcomes Lew Rockwell, editor of LewRockwell.com and founder of the Mises Institute. Lew discusses the erosion of the Constitution and Bill of Rights as government increases its power over its citizens. Lew mentions that the US has the largest prison population in the world, more than 2.3 million people. Lew believes that ultimately no power granted to the state goes un-abused.
Llewellyn H. Rockwell, Jr. is a former editorial assistant to Ludwig von Mises and congressional chief of staff to Ron Paul, is chairman and founder of the Mises Institute, executor for the estate of Murray N. Rothbard, and editor of his website LewRockwell.com.
CLICK HERE FOR AUDIO INTERVIEW
Ron Paul or NO VOTE in November...
Jim welcomes Lew Rockwell, editor of LewRockwell.com and founder of the Mises Institute. Lew discusses the erosion of the Constitution and Bill of Rights as government increases its power over its citizens. Lew mentions that the US has the largest prison population in the world, more than 2.3 million people. Lew believes that ultimately no power granted to the state goes un-abused.
Llewellyn H. Rockwell, Jr. is a former editorial assistant to Ludwig von Mises and congressional chief of staff to Ron Paul, is chairman and founder of the Mises Institute, executor for the estate of Murray N. Rothbard, and editor of his website LewRockwell.com.
CLICK HERE FOR AUDIO INTERVIEW
Ron Paul or NO VOTE in November...
by Angel Clark, Examiner:
A crowd of almost 10,000 of Ron Paul supporters gathered Sunday afternoon at the University of South Florida Sun Dome in Tampa. Despite Tropical Storm Isaac heading towards Florida, the USF stadium held over 7,000 fans of Ron Paul three hours before he was scheduled to speak, many thanking him for his contribution to their lives. A quick glance at the crowd might make one think they were at a rock concert, but a closer look reveals people wearing shirts with phrases like “Ron Paul won’t tread on you” and “I’m crazy like Ron Paul”. Supporters of the 12-term Congressman from Texas claim they are the future. “I hereby declare that for the next four hours, under this dome, liberty will reign!” Doug Wead, a senior advisor to Paul’s presidential campaign, said near the beginning of the rally.
Still Think Your Vote Counts...
A crowd of almost 10,000 of Ron Paul supporters gathered Sunday afternoon at the University of South Florida Sun Dome in Tampa. Despite Tropical Storm Isaac heading towards Florida, the USF stadium held over 7,000 fans of Ron Paul three hours before he was scheduled to speak, many thanking him for his contribution to their lives. A quick glance at the crowd might make one think they were at a rock concert, but a closer look reveals people wearing shirts with phrases like “Ron Paul won’t tread on you” and “I’m crazy like Ron Paul”. Supporters of the 12-term Congressman from Texas claim they are the future. “I hereby declare that for the next four hours, under this dome, liberty will reign!” Doug Wead, a senior advisor to Paul’s presidential campaign, said near the beginning of the rally.
Reports began circulating Sunday that Ron Paul had been offered a chance to speak at the Republican National Convention as long as his speech was approved by the Romney campaign and as long as Ron Paul gave Mitt Romney his full-fledged endorsement. Rep. Paul declined the offer. “It wouldn’t be my speech,” Dr. Paul said.
“That would undo everything I’ve done in the last 30 years. I don’t
fully endorse him for president.” Republicans plan to show a tribute to Ron Paul on Tuesday.
Read More @ Examiner.comStill Think Your Vote Counts...
by Steve Friess, Politico:
The GOP is shoving the Ron Paul Revolution to the margins — of the Tampa Bay Times Forum.
The Republican National Convention seating chart, obtained by POLITICO Sunday, shows the delegations from Nevada, Louisiana, Maine, Minnesota and Oklahoma all located on the outer fringe of the convention floor. Each are states with significant Paul followings.
The delegation for the Northern Mariana Islands, on the other hand, is right in front behind the gang from Michigan, birth state of Republican nominee Mitt Romney. Other groups with pretty good seats include those from the U.S. Virgin Islands, Puerto Rico and American Samoa. None has electoral votes that can impact the outcome of the election.
It’s yet another indignity for the party’s cantankerous libertarian faction for their revered retiring Rep. Paul, R-Texas, who accumulated 177 delegates during his run for the GOP nomination this year.
Read More @ Politico.com
“Unless you’ve got a real contest, where you have two candidates or three candidates who actually have a mathematical chance of winning, then why do we want to go through the exercise?”
Read More @ LewRockwell.com
The GOP is shoving the Ron Paul Revolution to the margins — of the Tampa Bay Times Forum.
The Republican National Convention seating chart, obtained by POLITICO Sunday, shows the delegations from Nevada, Louisiana, Maine, Minnesota and Oklahoma all located on the outer fringe of the convention floor. Each are states with significant Paul followings.
The delegation for the Northern Mariana Islands, on the other hand, is right in front behind the gang from Michigan, birth state of Republican nominee Mitt Romney. Other groups with pretty good seats include those from the U.S. Virgin Islands, Puerto Rico and American Samoa. None has electoral votes that can impact the outcome of the election.
It’s yet another indignity for the party’s cantankerous libertarian faction for their revered retiring Rep. Paul, R-Texas, who accumulated 177 delegates during his run for the GOP nomination this year.
Read More @ Politico.com
As the Republican convention-goers gather in Tampa, Florida, the
Republican party Establishment is eager to crush any public expressions
of dissent – both inside and outside the convention hall.
Inside, efforts are underway to make it impossible for delegates
pledged to antiwar libertarian Ron Paul to place their candidate in
nomination – an effort the Huffington Post deems a “defense” against
Paulian “shenanigans.” Party rules say officially-recognized candidates
must have pluralities of delegates in at least five states: however, at a
recent Republican National Committee meeting, Texas committeeman John
Ryder moved to increase the number of states to ten – just to make sure
Paul doesn’t make the grade. Disdaining convention floor fights as “the
residue of the 19th century,” Ryder averred it is time to “streamline”
the process by which the GOP nominates its standard-bearer. Ryder
claimed that he wanted to eliminate “distractions” at the Republican
convention:“Unless you’ve got a real contest, where you have two candidates or three candidates who actually have a mathematical chance of winning, then why do we want to go through the exercise?”
Read More @ LewRockwell.com
by Rick Ackerman, Rick Ackerman.com:
As last week ended, the Dow was in yet another undeserved, delusional rally, recouping more than half of the 300-point loss it had suffered earlier in the week . And yet, with exuberance gushing back into the markets, we found ourselves irresistibly drawn to…put options. Hours earlier we had missed buying some November out-of-the-money QQQ puts by two cents, and although this left us slightly remorseful at the bell, we were cheered when it was reported after the close that Apple has been awarded $1.1 billion in its patent infringement suit against Samsung. We shall explain. To be sure, the news itself was bad for consumers, bad for Samsung in particular, and bad for the retail electronics business in general. As how could it not be? Apple’s victory has redefined patent infringement so broadly that, henceforth, any consumer electronics company with a great new idea is at least somewhat more likely to find itself blocked or intimidated by another company’s patents.
Or so it would appear. Although we have not pored over the legal minutiae, we trust that a news report we read got it right when it characterized the lawsuit as pivoting significantly on “rectangles” – specifically, the size and shape of icons that can be maneuvered across a smart phone screen with one’s index finger. Apple’s lawyers had claimed that Samsung “stole” some of these rectangles, and now, unfortunately for us all, the alleged theft has been defined in law in such a way that any firm seeking to enhance the look of a smart phone screen with new shapes and designs will think twice before making it commercially available.
Read More @ RickAckerman.com
As last week ended, the Dow was in yet another undeserved, delusional rally, recouping more than half of the 300-point loss it had suffered earlier in the week . And yet, with exuberance gushing back into the markets, we found ourselves irresistibly drawn to…put options. Hours earlier we had missed buying some November out-of-the-money QQQ puts by two cents, and although this left us slightly remorseful at the bell, we were cheered when it was reported after the close that Apple has been awarded $1.1 billion in its patent infringement suit against Samsung. We shall explain. To be sure, the news itself was bad for consumers, bad for Samsung in particular, and bad for the retail electronics business in general. As how could it not be? Apple’s victory has redefined patent infringement so broadly that, henceforth, any consumer electronics company with a great new idea is at least somewhat more likely to find itself blocked or intimidated by another company’s patents.
Or so it would appear. Although we have not pored over the legal minutiae, we trust that a news report we read got it right when it characterized the lawsuit as pivoting significantly on “rectangles” – specifically, the size and shape of icons that can be maneuvered across a smart phone screen with one’s index finger. Apple’s lawyers had claimed that Samsung “stole” some of these rectangles, and now, unfortunately for us all, the alleged theft has been defined in law in such a way that any firm seeking to enhance the look of a smart phone screen with new shapes and designs will think twice before making it commercially available.
Read More @ RickAckerman.com
from Gold Core:
Today the London Bullion Market is closed for a national holiday.
Friday’s AM fix was USD 1,666.50, EUR 1,329.16 and GBP 1,051.88 per ounce.
Silver is trading at $30.91/oz, €24.77/oz and £19.62/oz. Platinum is trading at $1,550.00/oz, palladium at $647.90/oz and rhodium at $1,025/oz.
Gold climbed $0.80 or 0.05% in New York on Friday and closed at $1,669.80. Silver surged to as high of $30.71 and finished with a gain of 0.52%. On the week gold climbed 3.3% and silver gained a whopping 9.3%.
Gold hit a high not seen since mid April on Monday, continuing the momentum from last week’s gains as investors expect further monetary stimulus from central banks and become increasingly concerned about inflation.
Consumer price inflation data in the US is due Friday and is expected to move higher on higher fuel and food costs.
There may be more hints of further cheap money from the Jackson Hole Symposium later this week as finance chiefs gather to discuss economic policy behind closed doors.
Read More @ GoldCore.com
Today the London Bullion Market is closed for a national holiday.Friday’s AM fix was USD 1,666.50, EUR 1,329.16 and GBP 1,051.88 per ounce.
Silver is trading at $30.91/oz, €24.77/oz and £19.62/oz. Platinum is trading at $1,550.00/oz, palladium at $647.90/oz and rhodium at $1,025/oz.
Gold climbed $0.80 or 0.05% in New York on Friday and closed at $1,669.80. Silver surged to as high of $30.71 and finished with a gain of 0.52%. On the week gold climbed 3.3% and silver gained a whopping 9.3%.
Gold hit a high not seen since mid April on Monday, continuing the momentum from last week’s gains as investors expect further monetary stimulus from central banks and become increasingly concerned about inflation.
Consumer price inflation data in the US is due Friday and is expected to move higher on higher fuel and food costs.
There may be more hints of further cheap money from the Jackson Hole Symposium later this week as finance chiefs gather to discuss economic policy behind closed doors.
Read More @ GoldCore.com
from KingWorldNews:
Today Michael Pento writes exclusively for King World News to put readers ahead of the curve on what is happening with central planners. Pento noted the struggle in Europe, “… the EU 17’s unemployment rate now stands at a Euro-era record of 11.2%.” Pento also warned, “… gold and oil ETFs should provide the best protection if war breaks out in the Middle East or if central banks decide to launch another significant attack on fiat currencies.”
Here is Pento’s piece: “The European Central Bank and the Federal Reserve have both telegraphed that another round of currency depreciation is in the offing. The ECB’s Mario Draghi has pledged to do ‘whatever it takes’ to save the Euro currency, by setting specific targets for Italian and Spanish bond yields.”
Pento continues @ KingWorldNews.com
Today Michael Pento writes exclusively for King World News to put readers ahead of the curve on what is happening with central planners. Pento noted the struggle in Europe, “… the EU 17’s unemployment rate now stands at a Euro-era record of 11.2%.” Pento also warned, “… gold and oil ETFs should provide the best protection if war breaks out in the Middle East or if central banks decide to launch another significant attack on fiat currencies.”
Here is Pento’s piece: “The European Central Bank and the Federal Reserve have both telegraphed that another round of currency depreciation is in the offing. The ECB’s Mario Draghi has pledged to do ‘whatever it takes’ to save the Euro currency, by setting specific targets for Italian and Spanish bond yields.”
Pento continues @ KingWorldNews.com
from Econmatters:
Crude oil rallied alongside other commodities and the euro to its highest in three months last week on NYMEX, mostly from market’s expectation of new Euro Zone bailouts and a third round of quantitative easing from the U.S. Fed.
Crude oil had continued the uptreand after the Energy Dept. reported a decrease of U.S. oil inventory by 5.4 million barrels in the week of last Friday. Scanning the news, you are likely to see quotes such as “The [EIA inventory] report is relatively supportive,” and “Supply concerns persist due to Iran dispute, Syria tension.”
About That ”Tight” Gasoline Market
Inventories of gasoline (and diesel) in the U.S. are at their lowest levels for this time of year since 2008 (partly due to recent refinery fires and the closing of some refineries in the Northeast). Gasoline futures have soared 19% over the past two months as traders seem to be betting that prices of gasoline and diesel will continue to rise. Pump prices typically lag behind the futures market by several weeks.
More @ Econmatters.com
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Crude oil rallied alongside other commodities and the euro to its highest in three months last week on NYMEX, mostly from market’s expectation of new Euro Zone bailouts and a third round of quantitative easing from the U.S. Fed.
Crude oil had continued the uptreand after the Energy Dept. reported a decrease of U.S. oil inventory by 5.4 million barrels in the week of last Friday. Scanning the news, you are likely to see quotes such as “The [EIA inventory] report is relatively supportive,” and “Supply concerns persist due to Iran dispute, Syria tension.”
About That ”Tight” Gasoline Market
Inventories of gasoline (and diesel) in the U.S. are at their lowest levels for this time of year since 2008 (partly due to recent refinery fires and the closing of some refineries in the Northeast). Gasoline futures have soared 19% over the past two months as traders seem to be betting that prices of gasoline and diesel will continue to rise. Pump prices typically lag behind the futures market by several weeks.
More @ Econmatters.com
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