My Dear Extended Family,
Everyone has an opinion of QE3. Almost all are wrong.
What has taken place here in its size, and in an almost simultaneous international unified approach has no precedent in economic history.
QE1 and QE2 were not failures. Do you have any idea what the world would have looked like if every major bank in the Western financial world broke?
It is easy to be a naysayer and say let the banks go broke, but you have no idea how hard it would have hit you and yours and maybe gold and silver. This is not to say that Debt Monetization, which QE represents, is correct, but it was the only tool available to central banks that would create infinite cash for the Fed and Treasury to use in a totally discretionary manner. Governments, because of the size of their debt, were incapable of applying the better tool for reviving economic activity, which is fiscal stimulation. One thing for certain is the infrastructure of the USA is collapsing in front of your eyes. Dar es Salaam airport looks better on approach than JFK. Dubai is beyond description. Roads from the Beijing airport are brand new. The USA infrastructure is disgraceful for a major power. New York City roads look like "Mad Max and the Day After." However when you are the major debtor nation fiscal stimulation is simply not possible. It will not happen because it cannot happen.
Please stop listening to those that tell you QE will have no effect. They are "Ignorant to Infinity." QE3 is going to have an unprecedented effect, as it is now simultaneous and global in scope.
Please make note of all the governments that screamed at the Fed for the use of QE1 and QE2 that are now applying QE to infinity.
There will be no QE4 because QE3 is going to go on continually with a month or two off now and then. Please recognize that it is hard for markets to discount what they do not believe in and therefore by definition do not anticipate.
Know within 90 days the economic effects of QE3 will be entering markets for money and therefore the markets for gold, silver, and most certainly the dollar.
Gold is going to at least $3500. Silver will certainly perform well also. The real support for the US dollar is .7200 on the USDX and it will trade there. The euro will trade at $1.35 and $1.40.
Ron McEwen of MUX fame said it correctly: “Patience is bitter; but the fruit is sweet!”
Respectfully,
Jim
My Dear Friends,
Never say never.
Europe’s most powerful countries call for elected EU president
Germany, France and nine other of Europe’s most powerful countries have called for an elected European Union president and an end to Britain’s veto over defence policy in a radical blueprint mapping out the continent’s future. By Bruno Waterfield, Brussels
7:26PM BST 18 Sep 2012
In a document released on Tuesday after a meeting between 11 foreign ministers in Warsaw, the bloc, which includes all the largest European countries outside Britain, charted a vision for the "future of Europe".
As well as calling for a single, elected head of state for Europe, the bloc demanded a new defence policy, under the control of a new pan-EU foreign ministry commanded by Baroness Ashton, which "could eventually involve a European army".
In order to "prevent one single member state from being able to obstruct initiatives", a reference to British opposition to a European army, the German-led grouping demanded an end to existing national vetoes over foreign and defence policy.
This would give the EU the power to impose a decision on Britain if it is supported by a majority of other countries.
The plan, which has the backing of Germany, France, Italy, Spain, Poland, Holland, Austria, Belgium, Denmark, Luxembourg and Portugal the plan, is likely to fuel calls for a British referendum on membership of the European Union.
The document also proposed sweeping new powers for the European Parliament and further splitting of the EU by creating a new parliamentary sub chamber for the 17 countries of the eurozone.
More…
Jim Sinclair’s Commentary
Pay the man, and smile! Disgusting
Seriously? Bank Fees Shoot Up Again By Martha C. White | August 20, 2012
Call it account inflation: A new study shows that checking accounts have gotten even more expensive for customers in 2012, and the phrase “free checking” looks to be going the way of the manual typewriter and the cassette tape.
Consumers saw a brief reprieve at the end of 2011, when rates dropped a bit. Of course, that included the period when anti-bank sentiment boiled over, with Occupy Wall Street protests around the country and major banks backing off plans to implement debit card fees in the wake of widespread discontent. Since then, studies have shown continued dissatisfaction with financial institutions, particularly big banks.
With our collective anger back down to a simmer, however, banks have taken the opportunity to increase both fee amounts and the number of hoops customers must jump through if they want to avoid them. “The latest survey shows a comprehensive trend toward checking accounts becoming more expensive,” says MoneyRates.com, the site that conducts the surveys.
On average, monthly maintenance, ATM and overdraft fees were all hiked this year. Maintenance fees rose to an average $12.08, up from $11.28 in the last survey; at large banks, they rose to $13.88. Meanwhile the average minimum balance required to avoid that fee jumped by $850 — it’s now creeping up on $4,500.
More…
Jim’s Mailbox
Hi Jim,
I know you will never really get the credit you deserve for the media’s favorite new expression “QE to infinity,” or when they pick up on the idea of gold miners as utilities, etc.
I also know after all these years of following you that notoriety is not what drives you and it’s genuine concern for others well being.
I remember many years ago someone writing on a message board that reading JSMineset was like reading tomorrow’s newspaper today.
I can’t tell you how many times I questioned whether your forecasts would be correct (ie gold at $1650 seemed impossible, QE to infinity when MSM was debating whether QE1 would be ended early, etc.).
Please remember that many of us know and give credit and thanks for your work even though others are now presenting it as their own.
Best,
CIGA Matt
Dear Matt,
Thank you.
Jim
Oil’s Flash Crash Focuses On Symptoms Rather Than Intention CIGA Eric
In a world where politics (and political interests) and big money are deeply intertwined stable markets such crude oil can take on the appearance of the party game called hot potato. That’s why it’s extremely important to follow the actions of the invisible hand in today’s volatile markets. For instance, aggressive accumulation while the headlines discuss the meaning of another "flash crash" could suggest an orchestrated decline intended to change ownership of the trend. This potential setup is illustrated by the blue arrows in the chart below (chart).
Smart money would then ask why and why now? Perhaps it’s all option related…or, maybe, a strike against Iran’s nuclear capabilities is closer than the world realizes.
Chart: Crude Oil (WTI) and Crude Oil Diffusion Index (DI)
![clip_image002[4]](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYnhrIC-VexDjdbAvb496PsM_qOIiW7McDZfzqTEEEdZ0BAPgjjeoxUU-8RqVvqi1pe-BzjS_lxk_SjcUDKgDBwLq1fqejfB_aG7bYhyDsKuqBWeMEyCg8ecrLR5HlHd9TpnxHVGMqJTl-/s1600/COT+F%2526O+Oil+DI.PNG "clip_image002[4]")
Headline: One big order, thousands of small ones, seen behind oil tumble
(Reuters) – A single large sell order in the benchmark European Brent oil market, followed by an abrupt U-turn among high-frequency traders, may have caused one of the most abrupt price routs ever, brokers and analysts said on Tuesday.
As the dust settled on Monday’s four-minute, nearly $4 plunge, other possible causes such as an erroneous "fat finger" trade, a computer program run amok or a broad, rumor-driven sell-off were set aside in favor of a combination of one big trade – potentially as much as 12 million barrels worth some $1.4 billion – and tens of thousands of computerized orders.
"There was most likely a large fundamental seller in the market yesterday," said Eric Scott Hunsader, Chief Executive of Nanex, a trading consultancy that regularly conducts detailed forensic analysis of erratic market activity.
Source: in.reuters.com
More…
Jim,
The rage continues at the $1764 angel, and also the $1771.6 DC black line.. Gold’s price has danced at those numbers for quite a few days now. Normally, how long do those battles go on for before price resolution? Embry’s article on King the other day said the shorts have added 100,000 contracts on the gold side, so they do seem quite committed to pounding it. I know it’s just the usual drama and we are heading much higher, but wondered if there is a timeframe to these interventions? My guess is the powers will try to keep things appearing under control until the election. If Syria/Iran are invaded, all bets are off.
CIGA Yahn
Dear Yahn,
Although there is mixed opinion on the why of short selling, I firmly believe at this time depreciation is for the purpose of accumulation.
To assume the big boys are going to see gold go to $3500 short the metal makes one naive. The metals business is always short the future and long the product. That is just how it works. That leads to much misinterpretation from time to time.
Regards,
Jim
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The Commodity Matrix: What Is The Resource Of Tomorrow, And Who Will Benefit From It?
While
it is impossible to predict where the S&P will be in 10 years (or
even 1), one can safely make some assumptions about what the world will
look like in a decade (assuming of course it hasn't blown up by then).
It will be hungry, it will be thirsty, it will demand resources, and
it will be crowded (and it will certainly have lots and lots of
wheelbarrows carrying pieces of paper to and fro the local bakery).
Implicitly then, countries which control the production and export of
various key natural resources and commodities channels will become
increasingly more strategic and important. However, for some economies,
such as the Middle East, whose entire export-based welfare is reliant
on a core set of commodities, this export-benefit may be a
doubled-edged sword, should it lead to militant antagonism by one time
friends and outright enemies, and/or complacency leading to lack of
revenue stream diversity. In order to determine who the key resource
players in the future will be, we present the below commodity trade
matrix which answers two questions: how important is a commodity to a
country, and how important is a country to a commodity. As GS notes,
those on the riskier side of this equation are economies that are
heavily reliant on oil, such as the Middle East or even Russia (which
albeit scores better on other hard commodities). On the other hand,
food exporters enjoy relatively better diversity in their trade
portfolios. We highlight the LatAm economies here, while Canada and the
US also look healthy. Will food (and water) be the oil of the future,
and will the next resource war be not over black, or even yellow, gold,
but, pardon the pun, edible gold?CME Lowers Initial ES And Other Key Equity-Related Margins By 12%
It doesn't get much more obvious than this. The S&P at multi year highs, and what does the CME do? Why it lowers initial (as in please come in and open new positions) spec margin for not only the E-Mini, but virtually every other major market "reflexive" product in existence including S&P, Dow Jones, Nasdaq, and subsector futures currently traded, by 12%. As a reminder, the last time that "other" asset class rose to multi-year highs, that would be gold, it hiked margin nearly every single day, with a culmination of two margins hikes in one day on May 4. Naturally, the margin hiker-in-chief is not as worried about stocks attaining the same bubble status since if anything it will merely cement reelection chances. That said, should WTI ever dare to go up above $100 watch as the CME proceeds to decimate anyone who dares to be long WTI futures on margin.The iKrug...
It appears it is after all not Scott Sumner who 'saved the US economy' by urging the helicopter pilot to create even more money ex nihilo than hitherto. What will save us instead is Apple, or rather, its latest product, the iPhone 5. Who needs The Bernank when this wondrous device stands ready to pull the economy up by its bootstraps? A story has made the rounds lately – propagated by 'economist' (we should use the term loosely…) Michael Feroli at JP Morgan, that sales of the iPhone "could potentially add from
one-quarter to one-half of a percentage point to the growth rate of
U.S. gross domestic product in the final quarter of the year”. If we were to assume that he is correct, then what this would mainly tell us is how useless a statistic GDP actually is. However, what really takes the cake is a small posting of Krugman's on the same topic entitled “Broken Windows and the iPhone 5”. This view is erroneous – economic laws are not dependent on economic conditions. This is akin to arguing that the laws of nature will cease to be operational on Wednesdays. In Krugman's capable hands, a fallacy becomes a 'theory'.Italy slashes 2012 and 2013 GDP/Italy raises deficit forecasts for 2012 and 2013.
Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 5 hours ago
Good
evening Ladies and Gentlemen:
Gold closed down today to the tune of $1.30 to $1767.70. Silver on the
other hand rose by 10 cents to $34.62.
Early this morning we received news on the flash Chinese PMI which again
for the 11th consecutive month came in contracting mode with a reading
of 47.8. This caused Asian stocks to plummet over 2%. Asia is imploding
on a grand scale.
A few hoursJim Grant: We Are Now All Labrats Of Bernanke And The Fourth Branch Of Government
You put Jim Grant on TV and someone mentions the Fed and the result every single time is the equivalent of waving a red curtain in front of a rabid bull. This time was no different, as the Interest Rate Observer once again let Bernanke, with whom he clarified is no longer on speaking terms, have it. The ensuing central-planner bashing was in line with expectations, and just as we presented yesterday in "The Experiment Economy", so too does Grant believe that the Fed is "learning by doing" and follows up by clarifying that this is an experiment, "and we are lab rats in the financial markets." He then proceeds to lament that the credit markets, clueless NYT econopundits notwithstanding, have now lost all informational value as every rate instrument is purely in the manipulated domain of the Fed. "We are all living in a land of speculation and manipulation" is Grant's summary of the current predicament of anyone who wishes to trade these "markets" and it may as well be the best synopsis of the New (ab)normal. And aside from an odd detour into Government Motors, Grant once again hones in on the only true antidote to central planner idiocy, gold: "the best thing about gold is that it's got no P/E multiple. Gold is a speculation on an anticipated macroeconomic outcome, the systematic debasement of currencies by central banks. Why wouldn't they do QE4? What intellectual argument do they have against doing it again, and again, and again." Well...none.
by Paul Azeff and Kory Bobrow, Euro Pac:
“The history of government management of money has, except for a few short happy periods, been one of incessant fraud and deception.” Friedrich A Hayek
“Paper is poverty… it is only the ghost of money, and not money itself.” Thomas Jefferson
“Deficit spending is simply a scheme for the “hidden” confiscation of wealth.” Alan Greenspan (yes, THAT Alan Greenspan!)
“The great free nations of the world must take control of our monetary problems if these problems are not to take control of us.” John F Kennedy
“You ought to own some gold but don’t store it in the U.S., the Fed will take it away from you one day….” Dr. Marc Faber
“The geniuses at the Federal Reserve have concocted a bold new plan to revive the U.S. economy — print a bunch of money, loan it to Americans at super low interest rates so they can speculate on rising real estate prices, extract the appreciated equity and spend it on consumer goods. In other words, build an economy of real estate, by real estate, and for real estate. The only problem is we’ve been there and done that. The last time it almost destroyed the U.S.economy. I guess almost isn’t quite good enough for the Fed, so now it’s determined to finish the job….” Peter Schiff, September 14, 2012
Read More @ EuroPac.com
The US Will Spend Between $3 And $7 Per Gallon Of Gasoline "Saved" By Consumers Driving Electric Vehicles
Sometimes
you just have to laugh - for fear of the hysterical crying fit that
would ensue from recognizing our shameful pathological reality. To wit:
Reuters is reporting on a CBO study that shows the US electric car policy will cost $7.5bn by 2019. The report finds that the government's policy will have 'little to no impact' on overall gasoline consumption. 25% of the cost of the program is going up in Fisker Karma-inspired smoke
as part of the $7,500 per vehicle tax credit and the rest of the cost
is in grants to such well-deserved and successful operations as GM's Chevy Volt - which will backfire since the
more electric vehicles the automakers sell (thanks to government
subsidy) the more 'higher-margin' low-fuel-economy guzzlers it can sell
and still meet CAFE standards (re-read that - amazing!) In 2012, 13,497 Chevy Volts and 4.228 Nissan Leafs have been sold
(all that pent-up demand) as the CBO notes that despite the $7,500
subsidy, the cost-differential to conventional cars remains too wide -
inferring a $12,000 tax credit would be more comparable; as the U.S.
government will spend anywhere from $3 to $7 for each gallon of gasoline
saved by consumers driving electric vehicles.The Payoff: Why Wall Street Always Wins - An Excerpt
...the pushback from Wall Street was intense and multi-pronged. The Blob oozed through the halls of government, seeking, through its glutinous embrace, to immobilize the legislative and regulatory apparatus, thereby preserving the status quo. The executive jets of the Wall Street air force flew sortie after sortie, transporting high-ranking emissaries from new York to Washington to meet with the SEC, [Senator Chris] Dodd and [Senator Richard] Shelby staff, and the staff of other senators on the Banking Committee. Some of the executives, no doubt less enthusiastically, even met with Josh and me. The research companies and market experts Wall Street employs also raised their voices against us. At times it got ugly. Ted was called a crackpot and dangerously uninformed. He was accused of “politicizing” market regulation (a strange notion considering he wasn’t running for election). It seemed as if Wall Street, which wasn’t used to someone on Capitol Hill asking in-depth questions about arcane issues, wished to silence or marginalize its critics. Industry people would always ask me, “What got Kaufman so interested in this stuff?” Used to politicians whose top priorities were to please their home-state business interests and raise money, they had trouble fathoming that Ted was so interested because it was the right thing to do. He believed in fair markets. And because he was genuinely concerned about emerging issues that threatened the stock market, where half of all Americans keep a sizable portion of their retirement savings.Don't Hold Your Breath For The High-Beta Performance Chase - It Already Took Place
When
there is nothing left to base your permabullish stance on (earnings
collapsing, top-line misses, end of surprise factor from ECB/Fed, and
sentiment uber-bullish) there is always 'career-risk'. The high-beta
performance chase - the need to reach for high-beta
names/sectors/indices in the hope that if the market keeps ripping, your
performance is levered and you don't lose your job - has been
proffered by many 'strategists' for their optimistic short-term
projections and year-end targets for the S&P. The problem with this thesis is that it already happened - and dramatically! Since Draghi uttered his magical words, the high-beta Russell 2000's P/E has soared relative to the other major indices. Just
as it did during the LTRO exuberance, RTY has seen its P/E surge more
than 2x more than the Dow (and reached an epic 9x above the Dow - at
22x Forward earnings on Friday). Since then, the beta-chase
has actually decelerated, so either the chase is over, or PMs see
'flatter' as the new 'killing it'.
from, Testosterone Pit.com:
“Japan’s experience is a sobering real-world reminder of why forceful
and timely action is appropriate,” Boston Fed president Eric Rosengren
said in his desperation to rationalize
the Fed’s QE3 decision. It would restart the printing press in a
massive way. It would be a flood of money—in contrast to the “muted”
response from Japan to its two decades of economic stagnation.And it has already been successful, he said: “I would say in sum that regardless of the event window chosen, stock prices are up substantially, mortgage rates are lower, and exchange rates are lower.” Thus, he’d named the three goals of QE3: manipulate stock prices into the ether, repress yields on mortgages (and on everything from savings to corporate bonds), and demolish the dollar [read.... QE, Zimbabwe, And The Surreptitious 30% Haircut Every Decade].
Then he claimed that “appropriate fiscal policies”—namely even larger deficits—could “provide significant positive effects” to battle Japanese-style stagnation.
Read More @ TestosteronePit.com
from Silver Vigilante:
That it is a discrete and private means of storing value is one of the central-most cited arguments by proponents of silver. The same arguments are provided for gold, platinum and palladium ownership as well. But, as we find ourselves amid the end of privacy, we will have to come to terms with the reality that our gold and silver is not as private as we would like to believe, even when we hold onto the coins and bars in our own homes.
The government is unleashing a swathe of new technology aimed to usher in the reign of the technocratic state in which technology maintains increasingly tighter regiments of order within society. During the new system’s puberty, in which human policing could be obsolete, a rare instance in history sees men and women put behind the controls of some of the most invasive techniques of surveillance and investigation ever available. This leaves the rest of exposed to identity theft, fraud and political persecution.
Read More @ Silver Vigilante
That it is a discrete and private means of storing value is one of the central-most cited arguments by proponents of silver. The same arguments are provided for gold, platinum and palladium ownership as well. But, as we find ourselves amid the end of privacy, we will have to come to terms with the reality that our gold and silver is not as private as we would like to believe, even when we hold onto the coins and bars in our own homes.
The government is unleashing a swathe of new technology aimed to usher in the reign of the technocratic state in which technology maintains increasingly tighter regiments of order within society. During the new system’s puberty, in which human policing could be obsolete, a rare instance in history sees men and women put behind the controls of some of the most invasive techniques of surveillance and investigation ever available. This leaves the rest of exposed to identity theft, fraud and political persecution.
Read More @ Silver Vigilante
from TruthTube451 :
Oh there is nothing i love more than someone going on the lame-stream and showing up the host for what he is – an idiotic deluded mockingbird moron who is devoid of facts and common sense.
Oh there is nothing i love more than someone going on the lame-stream and showing up the host for what he is – an idiotic deluded mockingbird moron who is devoid of facts and common sense.
by Andy Hoffman, MilesFranklin.com:
I’m not going to harp on
this topic for long, as I have better things to do – like PROTECTING
people from the inevitable HYPERINFLATION. However, the only way to
PROTECT is via education, on a wide variety of inter-related topics.
In my May 16th RANT – “AGT” – I wrote of Howard Stern’s ascendance from a martyr of free speech to the “MAINSTREAM.” As a judge on the nationally-televised, ratings blockbuster family show America’s got Talent, Stern finally got the recognition he so richly deserves; as a good man, and one of the nation’s great comedians and conversationalists. Granted, he occasionally talks dirty; but far less than portrayed, and always within the context of his subscription-based, comedy show.
Read more @ MilesFranklin.com
I’m not going to harp on
this topic for long, as I have better things to do – like PROTECTING
people from the inevitable HYPERINFLATION. However, the only way to
PROTECT is via education, on a wide variety of inter-related topics.In my May 16th RANT – “AGT” – I wrote of Howard Stern’s ascendance from a martyr of free speech to the “MAINSTREAM.” As a judge on the nationally-televised, ratings blockbuster family show America’s got Talent, Stern finally got the recognition he so richly deserves; as a good man, and one of the nation’s great comedians and conversationalists. Granted, he occasionally talks dirty; but far less than portrayed, and always within the context of his subscription-based, comedy show.
Read more @ MilesFranklin.com
by Matt Taibbi, Rolling Stone:
Wall Street lobbyists are awesome. I’m beginning to develop a begrudging respect not just for their body of work as a whole, but also for their sense of humor. They always go right to the edge of outrageous, and then wittily take one baby-step beyond it. And they did so again last night, with the passage of a new House bill (HR 2827), which rolls back a portion of Dodd-Frank designed to protect cities and towns from the next Jefferson County disaster.
Jefferson County, Alabama was the most famous case – the city of Birmingham went bankrupt after being bribed and goaded into taking on billions of dollars of toxic swap deals – but in fact it was just one of hundreds of similar examples of localities being duped into suicidal financial deals by rapacious banks and financial companies. The Denver school system, for instance, got clobbered when it opted for an exotic swap deal pushed by J.P. Morgan Chase (the same villain in Jefferson County, incidentally) and then-school superintendent/future U.S. Senator Michael Bennet, that ended up costing the school system tens of millions of dollars. As was the case in Jefferson County, the only way out of the deal involved a massive termination fee that might have been even more destructive than the deal itself.
To deal with this problem, the Dodd-Frank Act among other things included a simple reform. It required the financial advisors of municipalities to do two things: register with the SEC, and accept a fiduciary duty to respect the best interests of the taxpayers they are advising.
Read More @ RollingStone.com
from TruthNeverTold :
Wall Street lobbyists are awesome. I’m beginning to develop a begrudging respect not just for their body of work as a whole, but also for their sense of humor. They always go right to the edge of outrageous, and then wittily take one baby-step beyond it. And they did so again last night, with the passage of a new House bill (HR 2827), which rolls back a portion of Dodd-Frank designed to protect cities and towns from the next Jefferson County disaster.
Jefferson County, Alabama was the most famous case – the city of Birmingham went bankrupt after being bribed and goaded into taking on billions of dollars of toxic swap deals – but in fact it was just one of hundreds of similar examples of localities being duped into suicidal financial deals by rapacious banks and financial companies. The Denver school system, for instance, got clobbered when it opted for an exotic swap deal pushed by J.P. Morgan Chase (the same villain in Jefferson County, incidentally) and then-school superintendent/future U.S. Senator Michael Bennet, that ended up costing the school system tens of millions of dollars. As was the case in Jefferson County, the only way out of the deal involved a massive termination fee that might have been even more destructive than the deal itself.
To deal with this problem, the Dodd-Frank Act among other things included a simple reform. It required the financial advisors of municipalities to do two things: register with the SEC, and accept a fiduciary duty to respect the best interests of the taxpayers they are advising.
Read More @ RollingStone.com
from TruthNeverTold :
from RussiaToday:
Max Keiser and Stacy Herbert discuss flash crashes, reputation woes on the U.S. exchanges and sheep screaming at all the fraud. Max also talks to one of the Queen’s sheep for its opinion on quantitative easing. In the second half of the show, Max Keiser talks to Jim Rickards, author of Currency Wars, about QE to infinity, the dollar, the euro and a gold standard.
from RonPaul2008dotcom:
Max Keiser and Stacy Herbert discuss flash crashes, reputation woes on the U.S. exchanges and sheep screaming at all the fraud. Max also talks to one of the Queen’s sheep for its opinion on quantitative easing. In the second half of the show, Max Keiser talks to Jim Rickards, author of Currency Wars, about QE to infinity, the dollar, the euro and a gold standard.
from RonPaul2008dotcom:
from Silver Vigilante:
The Obama Regime has done nothing to write the ship of state in the US,
as continued subsidization of Wall Street and global financial firms,
war crimes and a clear narcissism all dot the President’s four-year term
in office. While taking campaign contributions from finance capital’s
most entrenched, he told the nation in populist jargon that he would
protect them against bankers and corporatists. Well into his presidency,
firms like JP Morgan, Goldman Sachs and Bank of America were still
dependent upon US taxpayer funds. In fact, JP Morgan, for example, is
set to receive $14 billion in taxpayer subsidies in 2012 – that’s about
77 percent of its total net income.
JP Morgan & Other Financials Still Receiving Billions Annually from US Taxpayer
US Imperialism is still well-lubricated at the twilight of Obama’s term as president, with a major invasion of Lybia critically yawned out of the public spotlight from public dis-interest. Now, as riots engulf the Middle East and Africa, and US diplomats lose their lives in Lybia, many Americans believe we should invade Lybia, unknowing that this fateful decision has already been made and executed.
For these reasons and many others, it’s no surprise that the second campaign of the Barack Obama has not and will not draw the enthusiastic crowds of the first. And, indeed, the president has to worry about shoddy minority turnout, especially among blacks, a section of the population which carried him to the White House to be the official first black president.
Read More @ Silver Vigilante
The Obama Regime has done nothing to write the ship of state in the US,
as continued subsidization of Wall Street and global financial firms,
war crimes and a clear narcissism all dot the President’s four-year term
in office. While taking campaign contributions from finance capital’s
most entrenched, he told the nation in populist jargon that he would
protect them against bankers and corporatists. Well into his presidency,
firms like JP Morgan, Goldman Sachs and Bank of America were still
dependent upon US taxpayer funds. In fact, JP Morgan, for example, is
set to receive $14 billion in taxpayer subsidies in 2012 – that’s about
77 percent of its total net income.JP Morgan & Other Financials Still Receiving Billions Annually from US Taxpayer
US Imperialism is still well-lubricated at the twilight of Obama’s term as president, with a major invasion of Lybia critically yawned out of the public spotlight from public dis-interest. Now, as riots engulf the Middle East and Africa, and US diplomats lose their lives in Lybia, many Americans believe we should invade Lybia, unknowing that this fateful decision has already been made and executed.
For these reasons and many others, it’s no surprise that the second campaign of the Barack Obama has not and will not draw the enthusiastic crowds of the first. And, indeed, the president has to worry about shoddy minority turnout, especially among blacks, a section of the population which carried him to the White House to be the official first black president.
Read More @ Silver Vigilante
by Susanne Posel, Occupy Corporatism:
The theater that is the war on terror has reached new heights as the CIA-sponsored Taliban have announced they will focus strategies on high-profile assaults. This plays into the agenda of the global Elite and their puppet world leaders who want the appearance of a problem to facilitate a reaction from the public that will be quelled by their solution.
US Embassies are being threatened as manufactured insurgents continue to cause violent situations that justify the need for US military and NATO forces which are littering the Middle Eastern landscape.
A few days ago, the US State Department directed diplomats at the US Embassy in Beirut to begin destroying “classified materials as a security precaution” in response to the anti-American protests in Lebanon. The State Department admitted that there is no immediate threat to the embassy; however the embassy staff were told to “reduce classified holdings” in a routine measure.
Read More @ OccupyCorporatism.com
The theater that is the war on terror has reached new heights as the CIA-sponsored Taliban have announced they will focus strategies on high-profile assaults. This plays into the agenda of the global Elite and their puppet world leaders who want the appearance of a problem to facilitate a reaction from the public that will be quelled by their solution.
US Embassies are being threatened as manufactured insurgents continue to cause violent situations that justify the need for US military and NATO forces which are littering the Middle Eastern landscape.
A few days ago, the US State Department directed diplomats at the US Embassy in Beirut to begin destroying “classified materials as a security precaution” in response to the anti-American protests in Lebanon. The State Department admitted that there is no immediate threat to the embassy; however the embassy staff were told to “reduce classified holdings” in a routine measure.
Read More @ OccupyCorporatism.com
from Capital Account:
The Eurozone Purchasing Managers Index (PMI) points to a European recession, according to Markit Economics. Meanwhile a successful bond auction in Spain brought lower than expected yields. Is Europe on a “choose your own disaster” track? We talk to our guest co-host, Jim Rickards, Senior Managing Director at Tangent Capital Partners, and John Mauldin, President of Millennium Wave Advisors, about Europe’s fiscal future.
John Mauldin, author of “Endgame”, believes we are approaching the end of a 60-year global debt super cycle in the developed world. The end of this cycle is characterized by massive household sector deleveraging and a historic shift of private liabilities onto public balance sheets. How long does the US have until the national debt becomes the next global crisis? Our co-host Jim Rickards, author of “Currency Wars”, talks to John Mauldin about the fiscal cliff and how this political storm might play out.
And while we deride the Fed for launching QE3, Japan has launched QE 8. This is the eighth round of easing as Japan’s twenty year slump drags on. We talk to Jim Rickards and John Mauldin about QE and the risk of inflation, interest rate dislocation and the big bang!
The Eurozone Purchasing Managers Index (PMI) points to a European recession, according to Markit Economics. Meanwhile a successful bond auction in Spain brought lower than expected yields. Is Europe on a “choose your own disaster” track? We talk to our guest co-host, Jim Rickards, Senior Managing Director at Tangent Capital Partners, and John Mauldin, President of Millennium Wave Advisors, about Europe’s fiscal future.
John Mauldin, author of “Endgame”, believes we are approaching the end of a 60-year global debt super cycle in the developed world. The end of this cycle is characterized by massive household sector deleveraging and a historic shift of private liabilities onto public balance sheets. How long does the US have until the national debt becomes the next global crisis? Our co-host Jim Rickards, author of “Currency Wars”, talks to John Mauldin about the fiscal cliff and how this political storm might play out.
And while we deride the Fed for launching QE3, Japan has launched QE 8. This is the eighth round of easing as Japan’s twenty year slump drags on. We talk to Jim Rickards and John Mauldin about QE and the risk of inflation, interest rate dislocation and the big bang!
People who have a political opinion that “represents a fairly popular point of view” also listed as extremists
by Paul Joseph Watson, InfoWars:
A leaked training manual used in the State and Local Anti-Terrorism Training (SLATT) program for law enforcement and funded by the Department of Justice lists political bumper stickers expressing opposition to the United Nations and support for the bill of rights as indications of terrorist activity.
The presentation documents, leaked to the Public Intelligence website, are entitled Terrorism Training For Law Enforcement and are marked “law enforcement sensitive.” The program is funded by grants from the Department of Justice’s Bureau of Justice Assistance.
Total Donations over the last 3 1/2 years. approx $165.00 (Thank You). Donations will help maintain this goal and defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.
by Paul Joseph Watson, InfoWars:
A leaked training manual used in the State and Local Anti-Terrorism Training (SLATT) program for law enforcement and funded by the Department of Justice lists political bumper stickers expressing opposition to the United Nations and support for the bill of rights as indications of terrorist activity.
The presentation documents, leaked to the Public Intelligence website, are entitled Terrorism Training For Law Enforcement and are marked “law enforcement sensitive.” The program is funded by grants from the Department of Justice’s Bureau of Justice Assistance.
Slides for the presentation depict the kind of behavior
that law enforcement officials should be wary of in spotting potential
terrorists during highway patrols.
Read More @ InfoWars.comTotal Donations over the last 3 1/2 years. approx $165.00 (Thank You). Donations will help maintain this goal and defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.
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