Pento...We Have Entered A New & More Deadly Phase Of This Cycle

from KingWorldNews:

Today Michael Pento writes about the ongoing destruction of fiat currencies, and what investors should be doing with their money in this environment. Pento has ben incredibly accurate regarding his predictions regarding central bank moves. He now believes we are entering a “new” and more “deadly phase” of this cycle.
Michael Pento writes exclusively for King World News to let readers know what to expect from central planners, and how it will impact the economy and key markets. Here is Pento’s piece: “The worldwide currency debasement war has now entered a new and more deadly phase. Central banks have escalated the combat plan to bring about the world’s weakest currency for their individual countries.”
Michael Pento continues @ KingWorldNews.com

Former Fed Official Warns of Multi-Decade Downturn

from visionvictory

The Fed Has Another $3.9 Trillion In QE To Go (At Least)

Some wonder why we have been so convinced that no matter what happens, that the Fed will have no choice but to continue pushing the monetary easing pedal to the metal. It is actually no secret: we explained the logic for the first time back in March of this year with "Here Is Why The Fed Will Have To Do At Least Another $3.6 Trillion In Quantitative Easing." The logic, in a nutshell, is simple: everyone who looks at modern monetary practice (as opposed to theory) through the prism of a 1980s textbook is woefully unprepared for the modern capital markets reality for one simple reason: shadow banking; and when accounting for the ongoing melt of shadow banking credit intermediates, which continues to accelerate, the Fed has a Herculean task ahead of it in restoring consolidated credit growth. Shadow banking, as we have explained many times most recently here, is merely an unregulated, inflationary-buffer (as it has no matched deposits) which provides the conventional banking credit transformations such as maturity, credit and liquidity, in the process generating term liabilities. In yet other words, shadow banking creates credit money which can then flow into monetary conduits such as economic "growth" or capital markets, however without creating the threat of inflation - if anything shadow banks are the biggest systemic deflationary threat, as due to the relatively short-term nature of their duration exposure, they tend to lock up at the first sing of trouble (see Money Markets breaking the buck within hours of the Lehman failure) and lead to utter economic mayhem unless preempted. Well, preempting the collapse in the shadow banking system is precisely what the Fed's primary role has so far been, even more so than pushing the S&P to new all time highs. The problem, however, as we will show today, is that even with the Fed's balance sheet at $2.8 trillion and set to rise to $5 trillion in 2 years, it will not be enough.

$500 Billion For Six Months: Senate Funding Bill Continues War & Welfare

from Silver Vigilante:

The corporate-owned parties in the US have more to lose in an election year than gain by being stubborn stalwarts of their own agendas.  Unlike the fiasco of 2011, in which the fiscal cliff seemed like an edge over which the ship of state would certainly fall, in 2012 the overstretched US budget was not suspended, as both military projects and welfare programs are set to continue. Senate lawmakers voted to approve half-a-trillion bill to finance the federal government for six months from October 1.
Rand Paul had earlier slowed passage of the funding bill after the US Senate easily overcame a preliminary procedural hurdle on the $500 billion bill Paul introduced a measure cutting aid to Pakistan, Egypt and Libya.  Not only did all Democratic lawmakers in the Senate oppose Paul’s proposal, but so too did many of his own party, including John McCain and Lindsey Graham of South Carolina. In a tight election year, neither party wants to appear to radical or be blamed for not working together with the other party. Neither party wanted to make an already stressed population more nervous and hurt their chances in the election.
Read More @ Silver Vigilante

The Global Trade Cycle Turns Lower

It should come as no surprise - to anyone but the most whocouldanode crowd - but global trade volumes are slowing notably, and surprise surprise, Europe is leading the lag. Between the total lack of any sustainable trade advantage that the PIIGS suffer from (discussed here) and recent outlook cuts from FedEx and UPS (detailed here), it is not a shock that the following detailed charts of Import and Export volumes for China, US, Japan, and Europe are starting to drop notably. Just as we pointed out here, Europe remains the hub of around half of World Trade and as is clear, the myth of decoupling among the world's largest economies is smoke-and-mirrors as it is a lead-lag relationship that is now proven to be entirely un-decoupled as 'obviously' the import and export sides of the world's imbalanced economies show trade is falling in a hurry.

The CIA-Soros Partnership

 from The Economic Policy Journal:

A curious link between George Soros and the CIA has emerged as a result of disclosures of funding of a Malaysian media organization by the National Endowment for Democracy. It turns out it was NED funding and Soros funding.
NED has long been known as a CIA front. In the clip below, one time CIA case officer Phil Agee describes the developments that led up to the formation of NED and how NED operates.
This is all noteworthy with regard to Soros, since the Malaysiakini, a Malaysian media organization, has just admitted receiving funds from NED.
The funding has been apparently been going on for many years and a journalist now discloses that he quit working for Malaysiakini because of its then secret funding by NED and Soros.

EU Stasi to Patrol Internet for Politcal Enemies Opposed to “European Integration”

by Kurt Nimmo, InfoWars:

During a speech in 2006, Soviet dissident Vladimir Bukovksy referred to classified documents held by the Politburo and the Central Committee. The confidential documents spelled out a plan to turn Europe into a totalitarian super-state.
In 1989, during a visit by a Trilateral Commission delegation sent to convince Mikhail Gorbachev to turn Russia over to globalist loan sharks at the World Bank and IMF, the former French president Giscard d’Estaing told Gorbachev: “I cannot tell you exactly when it will happen – probably within 15 years – but Europe is going to be a federal state.” This was several years before the signing of the Maastricht treaty creating the European Union.
“How the hell did Giscard d’Estaing know what was going to happen in 15 years time?” Bukovksy asked during his speech. “And surprise, surprise, how did he become the author of the European constitution? A very good question. It does smell of conspiracy, doesn’t it?”
Read More @ InfoWars.com

The Federal Reserve’s MBS QE3 Scheme Explained

from Gregory Mannarino:



BTFD...Keep Stacking...

Gold Counterfeiting Goes Viral: 10 Tungsten-Filled Gold Bars Are Discovered In Manhattan

from Zero Hedge:
A few days ago, our report on the discovery of a single 10 oz Tungsten-filled gold bar in Manhattan’s jewelry district promptly went viral, as it meant that a tungsten-based, gold-counterfeiting operation, previously isolated solely to the UK and Europe, had crossed the Atlantic. The good news was that the counterfeiting case was isolated to just one 10 oz bar. This morning, the NYPost reports that as had been expected, in the aftermath of the realization that the sanctity of the gold inventory on 47th Street just off Fifth Avenue has been polluted, and dealers promptly check the purity of their gold, at least ten more fake 10-ounce “gold bars” filled with Tungsten has been discovered.

The Post has learned as many as 10 fake gold bars — made up mostly of relatively worthless tungsten — were sold recently to unsuspecting dealers in Manhattan’s Midtown Diamond District.The 10-oz. gold bars are hugely popular with Main Street investors, and it is not known how many of the fake gold bars were sold to dealers — or if any fake bars were purchased by the public.

As is to be expected, the Post story is weak on details: after all, any dealer who admits to having allowed Tungsten to enter his or her inventory can kiss their retail business goodbye, as customers will avoid said Tungsten outlet like the plague, for the simple reason that suddenly counterparty risk has migrated from Wall Street to the Diamond District. The one named dealer is the same one who already made an appearance in the previous story on Tungsten in gold’s clothing.
Read More @ ZeroHedge.com


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