Author & founder of The SurvivalBlog.com James Wesley Rawles joins us to talk about the financial issues we face, and the inevitable inflation which James says will be “Weimar-style”, which means HYPERINFLATION. Where it gets really scary is that precious few people are prepared and in James own words, “People have no idea what the collapse of Western civilization might look like.”
To Fight Hyperstagflation, Greece Will Allow Sale Of Expired Food Products
Against
a deflationary environment of austerity-driven wage and pension cuts
combined with rising unemployment; food, commodity, and fuel prices
continue to surge in Greece. The government has taken an unusual step -
allowing the sale of expired food at lower prices. As Voz Populi
reports, this act means the government has 'virtually admitted their inability to control prices" as the worst aspects of stagflation crush the Hellenic Republic. The regulation (allowing from one-week to one-month extensions of foods for sale post their eat-before-this-day-or-you'll-get-Salmonella date)
has existed for many years, according to a ministerial decree and this
action merely states that these foods must be sold at a lower price.
Meat and dairy is excluded but this move is described as "an immoral
act" as few believe prices will actually be reduced - since that is at
the discretion of the merchant. As the National Food Agency notes: "This
is also a moral dilemma, to divide consumers into two groups: those who can afford basic food and those who, because of poverty, are forced to resort to dubious quality food." We presume this will also reduce the drag on pension and healthcare costs as death rates will rise?Are YOU Prepared?
21 Signs That The Global Economic Crisis Is About To Go To A Whole New Level
from The Economic Collapse Blog:
The global debt crisis has reached a dangerous new phase.
Unfortunately, most Americans are not taking notice of it yet because
most of the action is taking place overseas, and because U.S. financial
markets are riding high. But just because the global economic crisis is
unfolding at the pace of a “slow-motion train wreck” right now does not
mean that it isn’t incredibly dangerous. As I have written about previously,
the economic collapse is not going to be a single event. Yes, there
will be days when the Dow drops by more than 500 points. Yes, there
will be days when the reporters on CNBC appear to be hyperventilating.
But mostly there will be days of quiet despair as the global economic
system slides even further toward oblivion. And right now things are
clearly getting worse. Things in Greece are much worse than they were
six months ago. Things in Spain are much worse than they were six
months ago. The same thing could be said for Italy, France, Japan,
Argentina and a whole bunch of other nations. The entire global economy
is slowing down, and we are entering a time period that is going to be
incredibly painful for everyone. At the moment, the U.S. is still
experiencing a “sugar high” from unprecedented fiscal and monetary
stimulus, but when that “sugar high” wears off the hangover will be
excruciating. Reckless borrowing, spending and money printing has
bought us a brief period of “economic stability”, but our foolish
financial decisions will also make our eventual collapse far worse than
it might have been. So don’t think for a second that the U.S. will
somehow escape the coming global economic crisis. The truth is that
before this is all over we will be seen as one of the primary causes of
the crisis.Read More @ TheEconomicCollpaseBlog.com
Untitled
Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 43 minutes ago
Good
evening Ladies and Gentlemen:
Gold closed the comex session up:
Good evening Ladies and Gentlemen:
Gold closed down $10.80 to $1758.00 Silver fell by 43 cents to $33.63
The bankers upon seeing the oI on silver Thursday night, made the
decision that a raid must be initiated. They had to remove many of the
silver OI's who continue to pile into the metal. If you look closely
(below) at
Downside Risks
Admin at Marc Faber Blog - 2 hours ago
“I just want to have a lot of cash because within the next 6-9 months we
can buy just about anything 20 percent lower.” - *in CNBC *
*Marc Faber is an international investor known for his uncanny predictions
of the stock market and futures markets around the world.*
Video: The European Union Has We Know It May Not Survive
Admin at Jim Rogers Blog - 2 hours ago
*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.*
The Formula Continues Its Counter Trend Rally
Eric De Groot at Eric De Groot - 3 hours ago
As long as the formula's counter trend rally remains in tact,
expect continued concentration of capital in the risk-on trade(s).
The risk-on trade will be vulnerable when the up trends below deteriorate
against an endless backdrop of bullish expectations (Chart 1, 2, 3). Chart
1: The Formula: Gold and Federal Government Budget As A % of...
[[ This is a content summary only. Visit my website for full links, other
content, and more! ]]
by Franklin Jefferson, Daily Squib:
The divisions are great in America, and the pressure is growing daily. How much can the people take? How long can the U.S. election kettle boil until the steam is finally released?
“Look at the November 6 elections as an elastic band. How far can you pull that thing before it snaps? If Obama wins, you’re going to get some seriously pissed off people, if Romney wins you’re going to get some pretty pissed off people,” a citizen of Philadelphia told CNBC news.
The divisive nature of the elections is pitting Americans against Americans, people who are neighbours, people who you go to work with, even families are split. The populations are rooting for their champion, but what if their hero loses. Could there be major riots across America? How come Homeland Security recently purchased literally tonnes of ammunition. America is a tinderbox of weaponry waiting to go off.
Read More @ dailysquib.com
from Zero Hedge:
On a regular basis we are placated by commercials to satisfy our craving to know which bathroom tissue is the most absorbent; debates ‘infomercials’ assuaging our fears over which vice-presidential candidate has the best dentist; and reality-shows that comfort our ‘at least I am not as bad as…’ need; there is an inescapable reality occurring right under our propagandized nose (as we noted here). Economic Reason has gathered together the Top 15 ‘reality’ economic documentaries – so turn-on, tune-in, and drop-out of the mainstream for a few hours…
Originally posted at Economic Reason blog,
Top 15 Economic Documentaries
Today’s Items:
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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The divisions are great in America, and the pressure is growing daily. How much can the people take? How long can the U.S. election kettle boil until the steam is finally released?
“Look at the November 6 elections as an elastic band. How far can you pull that thing before it snaps? If Obama wins, you’re going to get some seriously pissed off people, if Romney wins you’re going to get some pretty pissed off people,” a citizen of Philadelphia told CNBC news.
The divisive nature of the elections is pitting Americans against Americans, people who are neighbours, people who you go to work with, even families are split. The populations are rooting for their champion, but what if their hero loses. Could there be major riots across America? How come Homeland Security recently purchased literally tonnes of ammunition. America is a tinderbox of weaponry waiting to go off.
Read More @ dailysquib.com
from Zero Hedge:
On a regular basis we are placated by commercials to satisfy our craving to know which bathroom tissue is the most absorbent; debates ‘infomercials’ assuaging our fears over which vice-presidential candidate has the best dentist; and reality-shows that comfort our ‘at least I am not as bad as…’ need; there is an inescapable reality occurring right under our propagandized nose (as we noted here). Economic Reason has gathered together the Top 15 ‘reality’ economic documentaries – so turn-on, tune-in, and drop-out of the mainstream for a few hours…
Originally posted at Economic Reason blog,
Top 15 Economic Documentaries
Posted on 09 September 2012.
1. Overdose: The Next Financial Crisis – Directed by Martin Borgs
Based on the book “Financial Fiasco”
by Johan Norberg this documentary depicts When the world’s financial
bubble blew, the solution was to lower interest rates and pump trillions
of dollars into the sick banking system. The solution is the problem,
that’s why we had a problem in the first place. Featured guests; Peter
Schiff, Gerald Celente, Dennis Hannon. ~46 min.
See the Remaining 14 @ Zero Hedge
If
you want to know how the Keynesian Cargo Cult's grand experiment in
borrowing money to fund bloated fiefdoms, rapacious cartels and bridges
to nowhere ends, just look west (from California) to Japan. The
Japanese State, partly because they seem to believe in the Cargo Cult,
and partly to avoid exposing the insolvency of their crony-capitalist
financial sector, has been borrowing and spending money on a vast scale
for two decades. Rather than face the fraud and corruption at the heart
of American (and Japanese) finance and governance, the Keynesians just
want to leave the predatory, parasitic crony-capitalist Status Quo
intact and create an illusory world of bogus "demand" and grotesque
malinvestment funded by ever-increasing debt. Does anyone seriously think this is the "road to recovery"?
If you want a look at the fiscal future of the U.S., look west to
Japan, a nation that sits precariously on a fiscal cliff a thousand feet
high.
Presented
with little comment but comparing the free-fall in AAPL's share price
to this amazing chest-cam video from Felix Baumgartner's jump yesterday
must be how all those hedge fund feel this morning... AAPL is trading
below its 100DMA.
For the majority of Americans living along the country's coastlines, anything that is not within 50 miles of the the big water is pejoratively called "flyover states", its contents to be avoided at all costs, and its contributions to society and the economy to be loudly mocked and jeered at high society cocktail parties from the Hamptons to Malibu and back (but not inbetween). That is, until election time. Because when it comes to determining the fate of America's leadership every 4 years, the bankers, lawyers, venture capitalists, socialites, marketers, hedge funders, Economist PhDs, and other very important jobs, courtesy of the Electoral College, have absolutely no impact, and it all boils down to such swing states as Ohio, Florida, Iowa and Nevada. For the full cartoon presentation of what states do matter this election, see the cartoon below.
BTFD...
WTI crude started moving first but soon afte the US day session opened we saw EUR weakness, US strength and precious metals started to fade rapidly. Gold and Silver have now retraced the post-FOMC Bernanke-Bump, but remain above the Draghi-Day levels...
While
European equities, sovereigns, and corporate credit all seem
cock-a-hoop at the tail-risk mitigation efforts of the Draghi 'promise';
demand for the safety of Swiss interest rates has quietly been
creeping higher. Swiss 2Y rates are now at almost six-week lows (below -18bps), its lowest since the Draghi 'believe' speech... it seems not everyone 'believes'.
Just
when we thought we may finally get one decent economic data point
which even we could get excited about, we decided to look at the
Non-Seasonally Adjusted September retail sales data. After all the $4.7
billion seasonal increase in headline retail sales was the second
highest ever (in absolute terms, second only to 2004). Turns out our
curiosity was an enthusiasm-dowsing mistake, as a number which on the
surface looked good, was hardly validated by the Not-Seasonally Adjusted
number, which plunged by $31.9 billion. How does this
September sequential change compare to previous years? See the chart
below and decide for yourselves if the massive NSA plunge in September
2012 merits the second best seasonally adjusted retail sales increase in
history.
The bottom line on Citigroup's just released results: the firm reported an adjusted adjusted Net
Income number of $3.268 billion ($1.06 EPS), which was "better" than
the expected $0.97 (just like JPM's bottom line was better and the
initial spike higher in the stock price promptly reverted into the red
once people read the footnote text). How did Citi get to this number? It
started with an unadjusted $964 million of Net LOSS and
then added back a tax provision, CVA losses (as its spread tightened
in the quarter), the loss for the sale of MSSB ($4.7 billion pre tax),
and miraculously got to $3.3 billion. The MSSB and CVA/DVA adjustment
also miraculously increased total revenues from $13.951 billion to
$19.411 billion, making a sequential unadjusted 25% drop in Revenues
equal to a 3% increase. But even if one were to assume that the bank's
$3.3 billion uber-adjusted Net Income number is meaningful in any way,
it is certainly notable that $1.509 million of this, or nearly 50% came
from the tried and true gimmick: Loan Loss Reserves, which
boosted EPS by the same percentage, even as the firm saw its Net Credit
Losses soar by 11% from Q2, to $3.979 billion. This was a bigger LLR than in Q2 ($984MM) and Q3 2011 ($1,422MM). Same old goosing gimmicks, different day.
The
Japanese Yen has been one of the strongest currencies among the
developed nations of the world since the end of LTRO (up 6%). This
strength (repatriation flows and or carry unwind?) combined with a
dismal domestic economic growth environment appears to have pushed
Japanese firms to spend spend spend for growth. The latest and greatest
Softbank/Sprint deal will shift this year's Japanese corporate acquisition of foreign companies to near-record levels. As Bloomberg Briefs notes, this will be the country's largest overseas acquisition on record
- exceeding Japan Tobacco's $19bn acquisition of the UK's Gallaher
Group in 2007. However, this growth-buying-spree does not come cheap as
ratings are under pressure and while LBO-style financing might make the
deal 'cheap' at first, at some point the cycle will re-emerge; but for
now - it appears the BoJ (who we are sure are watching intently)
should maybe leave intervention off the table until Japan owns it all again and becomes even more too-bigger-to-fail.
The economic data twofer this morning was a beat and a miss. Retail sales increased by 1.1% on expectations of a 0.8% increase, with the last month's data being revised from 1.2% to 0.9%. Headline retail sales, ex autos was up 1.1% on expectations of a 0.7% print, and up from an upward revised 1.0%. Some of the main drivers in the September retail sales pick up were in electronics and appliance stores, which rose 4.5% from August (thank you iPhone 5), Gasoline Stations +2.5%, and Motor vehicle and parts dealers 1.3%, which continue to be a notable driver of retail strength for the second month in a row. As for the miss, it came from the Empire Fed, which increased from September's -10.41, to -6.16, but missed expectations of a -4 print. New Orders improved modestly from -14.03 to -8.97, and ironically was the only subindex in the entire report that staged an increase. Shipments declined to a negative print, from 2.75 to -6.40. Declines were also recorded in Delivery Times, Unfilled Orders, Inventories, Prices Paid, Prices Received, the average Employee Workweek, and most importantly, Number of Employees which declined from 4.26 to -1.08. Not even the forward looking indicators, so critical to consumer "confidence" managed to rise, dropping from 27.22 to 19.42.
You know the drill: please point out on this chart, which shows the yearly change in average hourly earnings for all US private workers, just where is this so-called "recovery", which an additional $6 trillion in public debt, and 5 quantitative easing episodes, have allegedly created out of thin air. For those confused, like us, we bring attention to the fact that in the past two months we have seen the smallest Y/Y increase in avg hourly earnings. Ever.
See the Remaining 14 @ Zero Hedge
The Future of America Is Japan: Runaway Deficits, Runaway Debts
If
you want to know how the Keynesian Cargo Cult's grand experiment in
borrowing money to fund bloated fiefdoms, rapacious cartels and bridges
to nowhere ends, just look west (from California) to Japan. The
Japanese State, partly because they seem to believe in the Cargo Cult,
and partly to avoid exposing the insolvency of their crony-capitalist
financial sector, has been borrowing and spending money on a vast scale
for two decades. Rather than face the fraud and corruption at the heart
of American (and Japanese) finance and governance, the Keynesians just
want to leave the predatory, parasitic crony-capitalist Status Quo
intact and create an illusory world of bogus "demand" and grotesque
malinvestment funded by ever-increasing debt. Does anyone seriously think this is the "road to recovery"?
If you want a look at the fiscal future of the U.S., look west to
Japan, a nation that sits precariously on a fiscal cliff a thousand feet
high.US Homeowners Launch Class Action Suit Against LIBOR-Manipulating Banks
Nearly four years ago, we started a series of articles in which we methodically presented evidence that LIBOR was manipulated. Then, in late June, the biggest (to date) bank conspiracy was exposed, in which it was found beyond a reasonable doubt that at least one, and in many case all (including the BOE and Fed) were if not engaging, then certainly aware of numerous instances when daily USD LIBOR fixing was fudged one way or another for various non-fiduciary, read illegal purposes. When our conspiracy theory was confirmed to be conspiracy fact (as usual), we suggested the following: "Our advice to anyone who had an adjustable rate mortgage in the period between 2005 and today: speak to a lawyer immediately about suing the living feces out of Barclays, and all other banks who crawl out of the woodwork with purported settlements. Because due to their undisputed mark manipulation, it is absolutely safe to say that ARMs, which rely on Libor for interest rate formation, were grossly manipulated by the same idiot traders who left written evidence of their manipulation year after year. Now it is their turn to pay." As of last night, this too has occurred, after several homeowners, aka Adams et al (Southern New York, 12-cv-07461) launched a class action lawsuit against Bank of America and all other LIBOR banks, accusing the defendants of "unjustly enriched themselves" by manipulating the rate, which allowed them to increase the payments by homeowners on adjustable rate loans, and boosting profits.AAPL Goes Baumgartner At 100DMA
Presented
with little comment but comparing the free-fall in AAPL's share price
to this amazing chest-cam video from Felix Baumgartner's jump yesterday
must be how all those hedge fund feel this morning... AAPL is trading
below its 100DMA.United Swing States Of America
For the majority of Americans living along the country's coastlines, anything that is not within 50 miles of the the big water is pejoratively called "flyover states", its contents to be avoided at all costs, and its contributions to society and the economy to be loudly mocked and jeered at high society cocktail parties from the Hamptons to Malibu and back (but not inbetween). That is, until election time. Because when it comes to determining the fate of America's leadership every 4 years, the bankers, lawyers, venture capitalists, socialites, marketers, hedge funders, Economist PhDs, and other very important jobs, courtesy of the Electoral College, have absolutely no impact, and it all boils down to such swing states as Ohio, Florida, Iowa and Nevada. For the full cartoon presentation of what states do matter this election, see the cartoon below.
BTFD...
Gold And Silver Lose Bernanke Bump
WTI crude started moving first but soon afte the US day session opened we saw EUR weakness, US strength and precious metals started to fade rapidly. Gold and Silver have now retraced the post-FOMC Bernanke-Bump, but remain above the Draghi-Day levels...
Meanwhile, In Switzerland...
While
European equities, sovereigns, and corporate credit all seem
cock-a-hoop at the tail-risk mitigation efforts of the Draghi 'promise';
demand for the safety of Swiss interest rates has quietly been
creeping higher. Swiss 2Y rates are now at almost six-week lows (below -18bps), its lowest since the Draghi 'believe' speech... it seems not everyone 'believes'.September Retail Sales: Seasonal vs Non-Seasonal - Spot The Difference
Just
when we thought we may finally get one decent economic data point
which even we could get excited about, we decided to look at the
Non-Seasonally Adjusted September retail sales data. After all the $4.7
billion seasonal increase in headline retail sales was the second
highest ever (in absolute terms, second only to 2004). Turns out our
curiosity was an enthusiasm-dowsing mistake, as a number which on the
surface looked good, was hardly validated by the Not-Seasonally Adjusted
number, which plunged by $31.9 billion. How does this
September sequential change compare to previous years? See the chart
below and decide for yourselves if the massive NSA plunge in September
2012 merits the second best seasonally adjusted retail sales increase in
history.Half Of Citi's Adjusted Net Income Comes From Loan Loss Reserves; Home Equity Loan Losses Surge
The bottom line on Citigroup's just released results: the firm reported an adjusted adjusted Net
Income number of $3.268 billion ($1.06 EPS), which was "better" than
the expected $0.97 (just like JPM's bottom line was better and the
initial spike higher in the stock price promptly reverted into the red
once people read the footnote text). How did Citi get to this number? It
started with an unadjusted $964 million of Net LOSS and
then added back a tax provision, CVA losses (as its spread tightened
in the quarter), the loss for the sale of MSSB ($4.7 billion pre tax),
and miraculously got to $3.3 billion. The MSSB and CVA/DVA adjustment
also miraculously increased total revenues from $13.951 billion to
$19.411 billion, making a sequential unadjusted 25% drop in Revenues
equal to a 3% increase. But even if one were to assume that the bank's
$3.3 billion uber-adjusted Net Income number is meaningful in any way,
it is certainly notable that $1.509 million of this, or nearly 50% came
from the tried and true gimmick: Loan Loss Reserves, which
boosted EPS by the same percentage, even as the firm saw its Net Credit
Losses soar by 11% from Q2, to $3.979 billion. This was a bigger LLR than in Q2 ($984MM) and Q3 2011 ($1,422MM). Same old goosing gimmicks, different day.Forget China; Japan Is 'Taking Over' The World Again
The
Japanese Yen has been one of the strongest currencies among the
developed nations of the world since the end of LTRO (up 6%). This
strength (repatriation flows and or carry unwind?) combined with a
dismal domestic economic growth environment appears to have pushed
Japanese firms to spend spend spend for growth. The latest and greatest
Softbank/Sprint deal will shift this year's Japanese corporate acquisition of foreign companies to near-record levels. As Bloomberg Briefs notes, this will be the country's largest overseas acquisition on record
- exceeding Japan Tobacco's $19bn acquisition of the UK's Gallaher
Group in 2007. However, this growth-buying-spree does not come cheap as
ratings are under pressure and while LBO-style financing might make the
deal 'cheap' at first, at some point the cycle will re-emerge; but for
now - it appears the BoJ (who we are sure are watching intently)
should maybe leave intervention off the table until Japan owns it all again and becomes even more too-bigger-to-fail.Retail Sales Beat Expectations, As Empire Index Misses, Negative For Third Month In A Row
The economic data twofer this morning was a beat and a miss. Retail sales increased by 1.1% on expectations of a 0.8% increase, with the last month's data being revised from 1.2% to 0.9%. Headline retail sales, ex autos was up 1.1% on expectations of a 0.7% print, and up from an upward revised 1.0%. Some of the main drivers in the September retail sales pick up were in electronics and appliance stores, which rose 4.5% from August (thank you iPhone 5), Gasoline Stations +2.5%, and Motor vehicle and parts dealers 1.3%, which continue to be a notable driver of retail strength for the second month in a row. As for the miss, it came from the Empire Fed, which increased from September's -10.41, to -6.16, but missed expectations of a -4 print. New Orders improved modestly from -14.03 to -8.97, and ironically was the only subindex in the entire report that staged an increase. Shipments declined to a negative print, from 2.75 to -6.40. Declines were also recorded in Delivery Times, Unfilled Orders, Inventories, Prices Paid, Prices Received, the average Employee Workweek, and most importantly, Number of Employees which declined from 4.26 to -1.08. Not even the forward looking indicators, so critical to consumer "confidence" managed to rise, dropping from 27.22 to 19.42.
Chart Of The Day: Hourly Earnings, Or The Lack Thereof
You know the drill: please point out on this chart, which shows the yearly change in average hourly earnings for all US private workers, just where is this so-called "recovery", which an additional $6 trillion in public debt, and 5 quantitative easing episodes, have allegedly created out of thin air. For those confused, like us, we bring attention to the fact that in the past two months we have seen the smallest Y/Y increase in avg hourly earnings. Ever.
Frontrunning: October 15
- Hilsenrath Humor du jour: Bernanke Advocates Stronger Currencies (WSJ)
- Auditors want two more years for Greece on deficit (Spiegel)
- More bluster: Schaeuble Rules Out Greek Default as Samaras, Troika Bargain (Bloomberg)
- And even more bluster: De Jager Says Greece Needs to Make Fiscal Reforms Immediately (Bloomberg)
- Global Economy Distress 3.0 Looms as Emerging Markets Falter (Bloomberg)
- Central bank governor stresses inflation control (China Daily)
- Greek Yields Reach Post Debt-Swap Low as Bunds Slip on Schaeuble (Bloomberg)
- Roth and Shapely win Nobel prize for economics (Reuters)
- Fed chief rounds on stimulus critics (FT)
- IMF Board Sees Biggest Power Shift Reshuffle in Two Decades (Bloomberg)
- EU Girds for Summit as Nobel’s Glow Fades on Crisis Response (Bloomberg)
- Japan security environment tougher than ever (Reuters)
Overnight Sentiment: Greek Euphoria
After starting the overnight trading at its lows, the EURUSD has once again seen the now traditional overnight levitation, this time with absolutely no economic news, in the process raising equity futures across the Atlantic, even as unfounded Chinese optimism for more liquidity has waned leading to the SHCOMP closing down 0.3%. Perhaps the most notable event in the quiet trading session so far has been the surge in 10 year Greek debt whose yield has tumbled to post-restructuring lows, driven by more and more hedge funds piling in to piggyback on Dan Loeb's recent public GGB purchase announcement (strength into which he has long since sold), and hopes that Greece will somehow see an Official Sector Initiative (OSI) to make recovery prospects for Private Investors more attractive: a capital impairment the ECB has said would happen only over its dead body. But in the new normal, facts and rules are for chumps, and only exist to be broken. More on this amusing stupidity here. Amusingly, this comes just as Greece’s Staikouras says the economy’s downward spiral is not over yet. But, again, who cares about fundamentalsToday’s Items:
Here we go again… Greece could leave the
euro-zone within the next six months as Greece is in its fifth year of
recession. If Greece does leave the euro-zone, many will receive a massive haircut on the loans made to Greece.
In addition,, hopefully, the Greeks will look at Iceland as the model
to follow. They certainly have the natural resources to make a
comeback very quickly on their own.
At nearly 6.26 to $1.0, China’s currency
hit a record high against the US dollar. This marks the highest level
since 1994 when China launched its modern foreign exchange market. So,
what does this mean? Expect higher prices at Wal-Mart. Or maybe,
they believe Romney, who has been bashing the Chinese for not floating the Yuan, will win and want to get on his good side?
For the 4th straight year, the US has
successfully spent more than a trillion dollars more than the government
brought in. The gap between the government’s tax revenue and its
spending totaled $1.1 trillion. Tax revenue rose 6.4 percent from
2011 to $2.45 trillion. And spending fell 1.7 percent to $3.5
trillion. Needless to say, with an aging population and a weak
economy, things do not look better for next year’s budget either.
Art Cashin believes that there are some eerie parallels to today versus the Wiemar Germany
era. He goes on to say that there are a variety of things in place
that could begin to react somewhat domino-like and cause a frightening
hyper-inflationary event. He says to keep an eye on the M2 figure and watch the velocity of money very carefully.
The latest executive order,
by Obama, claims the power to freeze all bank accounts and stop any
related financial transactions that a “sanctioned person” may own or try
to perform — all in the name of “Iran Sanctions.” The order says that
if an individual is declared to be a “sanctioned person,” their
financial resources will have successfully been completely frozen.
So, would a “sanctioned person” be someone whom they do not like?
Federal authorities are not saying how
much; however, it appears that a large amount of the newly-designed $100
bills, bound for the Federal Express err… Reserve in New Jersey were
stolen. Of course, it is no real secret that many in government want
to get rid of cash all together, and the loss of so many not-released
$100 dollar bills, that were to go public in 2013, will only add fuel to
that fire. Needless to say, this sounds like an inside job; however,
this is the same government that lost pallets of $100 bills in Iraq.
Funded with $5.8 million dollars, a New
Jersey experiment to turn citizen into snitches has meet with absolute
failure. The program was designed for the public to text messages,
with their cellular phones, if they saw a possible terror threat. Of
course, the only real terror for Americans are from the Department of
Homeland Insecurity and the government.
Nothing speaks more to the fraud that is
the CPI than the fact that Social Security will only go up between 1 to
2% this year. This is the lowest increase since 1975. If anyone
believes this is the real inflation… Stop drinking the Kool-aid.
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