We Are Staring At Economic Destruction & Soaring Inflation

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 warned, “The European Central Bank and Federal Reserve are both about to announce, this very month, an incredible assault on the Euro and the dollar.” Pento also cautioned, “… this is just the beginning of rising unemployment and soaring inflation.”
Pento also let investors know how to protect themselves in the coming chaos. Here is Pento’s piece: “Central banks will do something in September that causes fiat currencies to be flushed down the toilet. It will mark the beginning of the end for money that is not backed by precious metals. The events will be a desperate and final attempt to save faltering global GDP, but it will only lead to further economic destruction and intractable inflation.”
“The excuse being given for the upcoming assault on fiat money is the crumbling economies in Europe, which have taken down emerging markets economies as well. For example, China’s exports to the EU (17) dropped 16.2% in July, as sales to Italy plunged 26.6% from a year earlier.
Michael Pento continues @ KingWorldNews.com

The Outlook Ain’t Pretty – But Who’s Looking?

by Zen Gardner,ZenGardner.com
If you’re reading the “signs of the times” like any thinking person, the outlook isn’t good. While phony political processes cloud the air with smoke, mirrors and idiotic political air horns, UN and foreign troops are reportedly training on American soil and massive arms and munitions buildups continue at the behest of an enemy government.
Our own.
All with no visible signs of anything being warranted, nor of a population being warned of impending disaster. Despite this obvious reality in every sphere of society the world marches on towards certain chaos.
And something very similar is transpiring in the UK, Australia and Canada, other strongholds of so-called democracy. Actually these same “enclaves” of intelligent opposition to the New World Order are exactly what is anathema to the PTBs. Just as the intelligencia was the enemy of the great communist takeovers and so liquidated.
Take a lesson from history. It’s never been pretty.
A Media Bent on Mind Control
It bothers me big time how the media play(s) the unwitting public. While disinformation is their mainstay, I think the most effective tactic is just plain distraction. Even though troops move into place, new tactical equipment is stationed around the country, and innocent civilians are getting accustomed to shake downs and ID checks, the TV plays weather news, sitcoms, sports and other major stupidity to keep the masses distracted and intoxicated.
Read More @ ZenGardner.com

Spain: For Whom The Bell Now Tolls

To use the analogy offered by Senor Cervantes we would say that Rodrigo, as representing Spain, is about to be devoured by the snakes. The central bank of Spain just released the net capital outflow numbers and they are disastrous. During the month of June alone $70.90 billion left the Spanish banks and in July it was worse at $92.88 billion which is 4.7% of total bank deposits in Spain. For the first seven months of the year the outflow adds up to $368.80 billion or 17.7% of the total bank deposits of Spain and the trajectory of the outflow is increasing dramatically. Reality is reality and Spain is experiencing a full-fledged run on its banks whether anyone in Europe wants to admit it or not. We are now at the virtual epicenter of the European Crisis where decisions will have to be made; avoidance is no longer possible. We have reached the end of the road where there is no more path left for can kicking.

Donations help maintain and defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.

I'm PayPal Verified

It Is Time For The Ron Paul Revolution To Move Beyond Politics

In the lead up weekend to the RNC convention, Tampa, Florida was awash in political electricity. The ideal of democratic participation, the feeling of rejuvenation and community, joining the ranks of one’s ideological brethren to charge into intellectual combat for the future of our nation. Unfortunately, some were well aware that the Republican convention was a farce, and knew full well what the end result would be for the Ron Paul campaign. It has become clear that Benton and others have been “handling” Ron Paul for a considerable portion of his campaign and attempting to divorce him from the elements of the movement which are seen as “extreme” or anti-establishment, even though these are the same elements that catapulted Ron Paul into the minds of average Americans. Sadly, this is the ultimate weakness of the political ideal. The cold hard fact is; some men are not men.  Some men are monsters, and reason is the last thing that will ever sway them… All in all, it is not a bad time to be a champion of the Constitutional philosophy, and the existence of such a movement gives me enduring optimism.  I do not “think” we will prevail; I KNOW we will prevail. It is time to take matters into our own hands.

Risk #3

by Doug Noland, PrudentBear.com:
Bloomberg (Mark Deen): “Yale University professor Stephen Roach said Federal Reserve Chairman Ben S. Bernanke shouldn’t be given a third term because of his role in managing the U.S. economy before the financial crisis. ‘I think Bernanke tried his best post-crisis, but he’s part of the problem pre-crisis,’ Roach said… ‘He and Alan Greenspan condoned asset bubbles at a time the economy needed more discipline.’ …For Roach, Bernanke’s work to calm markets following the financial crisis doesn’t mean his part in inflating asset bubbles in previous years should be overlooked. ‘To reward him for post-crisis, very valiant efforts of public service completely overlooks the role he played in getting the U.S. asset markets and an asset-dependent economy into this mess in the first place…”
Chairman Bernanke titled his 2012 Jackson Hole presentation “Monetary Policy since the Onset of the Crisis.” His review begins with the Fed’s initial response to the unfolding mortgage crisis in August 2007. The paper then details five years of policy measures, with section headings “Balance Sheet Tools,” “Communication Tools,” “Economic Prospects,” and “Making Policy with Nontraditional Tools: A Cost-Benefit Framework.” Dr. Bernanke concludes with coded dovish messages, including “grave concern” that “high levels of unemployment will wreak structural damage” – after earlier signaling support for the Draghi Plan (“recent policy proposals in Europe have been quite constructive in my view, and I urge our European colleagues to press ahead…”).
Read More @ PrudentBear.com

Gold Doesn't Care About Jackson Hole

Eric De Groot at Eric De Groot - 29 minutes ago

Investors interpreted Bernanke’s statement as stimulus remains in play. Just like Mario Draghi’s “whatever it takes” policy statement several weeks ago, it offered no specifics as to the form, size, and purpose. The rather vague economic and policy assessment, nevertheless, sent stocks, bonds, and gold higher. Anyone following money flows knew gold has been primed for a rally since Gold’s... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 

 

Silver Is About 40 Percent Below Its All-Time High

Admin at Jim Rogers Blog - 2 hours ago

Silver is about 40 percent below its all-time high, and gold is 10 or 15 percent below its all-time high. - *in Mineweb* Related: iShares Silver Trust (ETF) (NYSE:SLV), SPDR Gold Trust (ETF) (NYSE:GLD) *Jim Rogers is an author, financial commentator and successful international investor. He has been frequently featured in Time, The New York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The Financial Times and is a regular guest on Bloomberg and CNBC.*

“Extraordinary Events”

from crabbydogtrix:
 

 

When Asset Prices Go Up, Wealth Inequality Increases

Admin at Marc Faber Blog - 9 hours ago

If we look to the last 10 years in the United States, I would imagine that the standard of the average household, of the median household has gone down. There has been a polarization of wealth because if you print money, it benefits people that have assets. When asset prices go up then obviously wealth inequality increases. - *in Bloomberg Radio* *Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.*

The Rulers And The Ruled

The first pre-requisite of the establishment of a “society” of the rulers and the ruled has always been the same. The rulers must gain control over the medium of exchange. For obvious reasons, no nation can ever progress to a state of advanced economic activity until a medium of exchange is established. Once it is established, there is no going back. An advanced economy cannot operate by means of barter. The problem is that once the government or the rulers gain control of money, it progressively ceases to be a medium of exchange and becomes a medium of control. That impinges on the functioning of markets which in turn impinges on the maintenance of property rights. Thus, we come full circle from a free society to a command society. There has never been any shortage of those who want to rule. The problem has always been with the vast majority who are content to be ruled. Today’s global outcry for the manufacturing of more and more “money” out of thin air is an eloquent testimony. It shows that most people have no understanding of freedom, markets or money. Lacking such understanding - and having no desire to gain it - most people have accepted government as their masters.

The Bernank Plots More Mayhem?

from The Daily Bell:

Hasn’t he done enough?
Apparently not. Meeting at an annual Jackson Hole central banking get-together, Federal Reserve chairman Ben Bernanke apparently announced his determination to continue to print money, thus further debasing the value of the dollar in his quixotic quest to save it.
Here’s how AP reported on Bernanke’s apparent intentions:
Chairman Ben Bernanke sent a clear message Friday that the Federal Reserve will do more to help the still-struggling U.S. economy …
He stopped short of committing the Fed to any specific move. But in his speech to an annual Fed conference in Jackson Hole, Wyo., Bernanke said that even with interest rates already at super-lows, the Fed can do more …
Some economists predict the Fed will unveil some bold new step as soon as its Sept. 12-13 meeting, possibly a third round of bond purchases meant to lower long-term interest rates and encourage more borrowing and spending. That policy is called “quantitative easing,” or QE.
Read More @ TheDailyBell.com

When Is It OK To Tell The Truth In America?

by Mac Slavo, SHTFPlan:

When the Obama administration announced Osama Bin Laden had been killed they provided a detailed account of how the raid in Pakistan took place, complete with a narrative that included a daring infiltration by Navy Seals, a shootout in the compound, and the terrorist’s burial at sea.
The incident was undoubtedly used as a political stepping stone for President Barack Obama, who had been suffering heavily in national polls. Thus, 300 million Americans and billions of citizens around the world were told a story that was, by all official accounts, the “truth.”
Shortly thereafter reports began to surface about inaccuracies in the story, with even the Obama administration providing inconsistent accounts of what happened and how. But, due to the highly classified nature of the operation, the only available information disseminated to the public came directly from White House officials.
President Obama’s administration was so desperate to look righteous and heroic in the eyes of the American public that they went so far as to support the production of a new movie detailing their version of the story. According to press inquiries, but denied by the White House Press Secretary, President Obama’s aides provided Hollywood producers unprecedented access to details and classified information regarding the killing of Bin Laden – no doubt slanted towards the White House’s version of events.
Read More @ SHTFPlan.com

Mad Men and the Life of Capitalism

by James E. Miller, Mises:
The Primetime Emmy Awards Ceremony is set to take place on September 23, 2012 and the AMC series “Mad Men” is tied with FX’s “American Horror Story” for the most nominations with a total of 17.  Like the four years before it, Mad Men is expected to win the Emmy for Outstanding Drama Series.  For those not in the know, Mad Men centers primarily around the life of creative advertisement director Don Draper and the agency of which he is a partner of on Madison Avenue in New York City.  The show, which was created and is produced by Matthew Weiner, takes place during the politically turbulent 1960s.  It has been critically acclaimed for its historical accuracy and remains the only basic cable television show to win an Emmy for Outstanding Drama series.
The Guardian calls it “piercingly bleak portrait of a 1960s American anti-hero.”  Gregory Rodriguez of the Los Angeles Times says the show excels at presenting stories full of “characters fighting to achieve personal liberation in the restless years before the advent of the full-blown culture wars.”
Read More @ Mises.ca

A Holiday Treat – Grilled Jackass

from TF Metals Report:
OK, so here’s the deal. We’ve made it through the doldrums. For over 100 days, gold and silver have based and consolidated and, this week, they have finally broken out. Now, before the fireworks begin, we have a 3-day weekend. Knowing that you’ve got some time to kill over the next few days, I figured that today was the perfect time to give the mic to The Jackass.
But here’s the deal: This is not your usual podcast. Knowing that you had all weekend to listen, I let Jim go and responded with an interview that clocks in at an hour and ten minutes! If that seems like a lot, please break it up into parts. Jim covers an extraordinary amount of information here and it is imperative that you listen to the entire thing. And, what the heck? You’ve got three days. This should help you to kill the time.
One last thing, Jim and I struggled all day to get a good Skype connection. This recording was made while we had the best connection we could make but it still wasn’t perfect. You’ll notice several intervals where Jim disappears for a few seconds. Please be patient and hang in there. The podcast resumes each time.
Have a great weekend!
CLICK HERE FOR AUDIO INTERVIEW

The RNC Circus, Abramovitch and Squatters

by Basil Valentine, 21st Century Wire:
So that was the Republican National Convention – American political circus in all its technicolor glory. It blew in with Hurricane Isaac and blew out with the wreckage of Clint Eastwood talking to an empty chair. In between, delegates threw peanuts at a black CNN camerawoman with the words ‘This is how we feed animals”, Paul Ryan delivered the most demonstrably mendacious speech ever by a candidate for high office, a Cayman Islands registered yacht appeared in the Tampa marina to host a reception for Romney family and major donors, and the Ron Paul faction was unceremoniously ejected from the hall for daring to support their candidate. It was hardly the performance of a government in waiting.
Despite the best efforts of the GOP ringmasters, enthusiasm for the nominee remains lukewarm at best. Clint’s inane ramblings on Thursday evening completely upstaged the pusillanimous Romney, scoring a huge own goal in what was a complete PR disaster for Republicans. When finally it was Romney’s turn, he did his best to seem like a normal human being with much talk of his parents and their struggle, but little about his career as an asset stripper. He looks reluctant to defend the extreme positions he’s adopted to shore up his base, he lacks a fluid mastery of the issues and has no grasp of specifics. The slick Obama may make mincemeat of him in the debates. Truth to tell, the only thing that keeps his campaign from completely imploding is the very deep dislike of President Obama that runs through parts of America, Romney’s campaign being based almost entirely on “I’m not him, so if you hate him, vote for me”. Old Ron Paul, sidelined and finally ignored by party apparatchiks, now looks far too tired to run anywhere, but were he to endorse Libertarian candidate Govr. Gary Johnson (himself shamefully excluded from the early candidate debates), Romney may not recover.
Read More @ 21stCenturyWire.com

NAM Leaders Support Iran

by Stephen Lendman, SJLendman.Blogspot.com:
After six historic days, over 100 participating nations expressed support for common interests as well as host country Iran. The New York Times said NAM “handed….Iran a diplomatic victory.”
The Christian Science Monitor suggested efforts to isolate Iran failed.
The Russian International News Agency (RIA Novosti) said participants supported Iran and its peaceful nuclear program.
The Tehran Times said “NAM summit set back US-Israeli campaign to isolate Iran.”
Press TV called the summit the “most important” political event in the Islamic Republic’s history.
Late Friday, the largest, most impressive NAM summit in decades ended. Iran gained prestige. It emerged standing tall. America, Israel, and rogue allies got long overdue black eyes.
President Mohammed Morsi was Egypt’s first leader to visit Iran since its 1979 revolution. UN Secretary-General Ban Ki-moon also came for the first time.
They combined support with criticism. Morsi shamelessly endorsed imperial efforts to topple Assad. Ban regurgitated Israeli lies about Iran allegedly wanting the Jewish state destroyed and denying the holocaust. These canards long ago wore thin.
Read More @ SJLendman.Blogspot.com

Argentina: When Life Gives You Lemons, Cry To The WTO

by Bianca Fernet, Testosterone Pit.com:
Starting last week, the US, Japan, and Mexico followed the EU’s lead and filed complaints at the WTO against Argentina’s import restrictions. Argentina promptly responded with its own complaint – against the US for blocking imports of beef and lemons.
That’s right – Argentina is accusing other countries of interfering in the free market import/export of their beef. Understand that the Argentine beef market is one of the top 10 most protected industries in the world – and not in favor of the beef producers.
Culturally, Argentina views its beef as a source of national pride, and it’s normal to receive “health” advice that it is necessary to eat meat at least once a day. Important life events are marked by asados, or large outdoor barbeques for which butchers inform you that you must prepare at least ½ kilogram (18 ounces) of meat per guest. But this cultural pièce de résistance is extremely costly for the general public to participate in, especially in such an inflationary environment.
Read More @ TestosteronePit.com

RSA Animate – Smile or Die

from RSA:

It’s Becoming Clear That No One Actually Read Facebook’s IPO Prospectus Or Mark Zuckerberg’s Letter To Shareholders

by Henry Blodget, BusinessInsider:
As Facebook’s stock continues to collapse, the volume of whining is increasing.
Four months ago, you will recall, Facebook was viewed as “the next Google.” Now, with no major change in the fundamentals, it’s viewed as an over-hyped disaster. Meanwhile, there is ever-louder grumbling that 26-year-old Facebook CEO Mark Zuckerberg is in over his head and should be relieved of command.
As I listen to all this whining, I have a simple question:
Didn’t anyone even read Facebook’s IPO prospectus?
The answer, I can only assume, is “no.”
Because if anyone had read the Facebook IPO prospectus, they would have learned, among other things, the following:
Facebook’s growth rate was decelerating rapidly.
Facebook’s user-base was rapidly transitioning to mobile devices, which produce much less revenue.
Facebook’s operating profit margin was already an astounding 50%, which suggested it had nowhere to go but down.
Read More @ BusinessInsider.com

Donations help maintain and defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.

I'm PayPal Verified