The
good news is that no workers are trapped. The bad news is that between
the 14th Street transformer explosion and the flooding and damage
elsewhere, there are 670,000 people without power and over 230,000 of
them are in Manhattan.*CON ED SAYS UNDERGROUND SUBSTATIONS COULD BE UP IN 3 TO 4 DAYS
*CON ED SAYS IT WILL TAKE LONGER TO REPAIR ABOVE GROUND STATIONS
*CON ED SAYS IT COULD BE UP TO A WEEK FOR POWER RESTORATION
*LARGEST STORM RELATED OUTAGE IN CON ED HISTORY, MIKSAD SAYS
The Incredible Shrinking Half-Life Of Central Bank Action
It
seems the market - or the collection of pre-programmed heuristic
biases that make up the equity investing public (and machines) - is
slowly but surely realizing the confidence trick that is the Fed's
Quantitative Easing programs. The following chart should clarify
- to anyone placing their gambling chips on the hopes of another round
of easing from the Fed - why the game is up. To wit, the
reverse geometric progression of S&P 500 performance during each
Fed action: QE1 +50%, QE2 +30%, Twist +18%, QE3 & Twist +8%... so QE4 +4%, QE5 +2%, and QE6 +1%...Nation's Oldest Nuclear Power Plant, New Jersey's Oyster Creek, Declares Alert Following Water Surge
As a reminder, the biggest catastrophe that resulted from last year's Tohoku earthquake in Japan was not the earthquake itself, nor the infrastructure destruction from the susbequent tsunami, but the impact of the soaring water wall on the nuclear power plants in the coastline, namely Fukushima, and its aftermath, by now known all too well to all. So tonight too, all along the east coast, the biggest threat is not the wind, nor the rain, but the impact of the storm surge on the tens of nuclear power plants located in the vicinity of the rapidly rising tide. Such as Oyster Creek in New Jersey which just went on alert due to the surging water level.Video Of ConEd Station On FDR And 14th Street Exploding
Moments ago the Emergency Services were hit with the following disturbing update:
NYC | MANHATTAN | EXPLOSION | FDR DR & E-14 STREET | U/D CMD RPTS EXPLOSION AT THE CON ED PLANT. MULTI-RESCUES UNDERWAY | UEA01
See it happen in real time: fast forward to 3:10 in the clip below to see an underwater power station explode.
While the Sheeplez are distracted...
from Examiner:
On Oct. 26, President Obama signed a new Executive Order which expands the role and scope of Homeland Security in states
and areas across the country. This order, which establishes a new
Security Partnership Council, will have far reaching effects in the
overall mission of Homeland Security, and for state and local areas that
interact with the Federal agency.
Economically, the Establishing the White House Homeland Security Partnership Council Executive Order will increase funding and resources to state and local governments to fulfill Homeland Security programs and doctrines, as well as increase Federal oversight in the implementation of directives tied to the agencies mission.
On Oct. 26, President Obama signed a new Executive Order which expands the role and scope of Homeland Security in states
and areas across the country. This order, which establishes a new
Security Partnership Council, will have far reaching effects in the
overall mission of Homeland Security, and for state and local areas that
interact with the Federal agency.Economically, the Establishing the White House Homeland Security Partnership Council Executive Order will increase funding and resources to state and local governments to fulfill Homeland Security programs and doctrines, as well as increase Federal oversight in the implementation of directives tied to the agencies mission.
The purpose of this order is to maximize the Federal Government’s ability to develop local partnerships in the United States to support homeland security priorities. Partnerships are collaborative working relationships in which the goals, structure, and roles and responsibilities of the relationships are mutually determined.
Read More @ Examiner.com
Bloomberg Says Prisoners Will be Abandoned While City Evacuates
With Hurricane Sandy approaching the New York Area, Mayor Bloomberg declared a state of emergency and ordered the evacuation of hundreds of thousands of people in low laying and vulnerable areas. An area called Rikers Island in New York is in one of these dangerous areas, however for most of the people who live there evacuation is not an option.
from CBS:
Sen. John McCain claims the Obama administration might be conducting a
“massive cover-up” with the deadly terror attack on the U.S. Consulate
in Benghazi that killed Ambassador Christopher Stevens and three other
Americans.
On CBS News’ “Face the Nation” Sunday, the 2008 Republican presidential nominee said President Obama has been incompetent with the way he has been handling the aftermath of the Sept. 11 attack.
“I don’t know if it’s either a cover-up or the worst kind of incompetence, which doesn’t qualify the president as commander in chief,” McCain said.
Read More @ CBSlocal.com
Sen. John McCain claims the Obama administration might be conducting a
“massive cover-up” with the deadly terror attack on the U.S. Consulate
in Benghazi that killed Ambassador Christopher Stevens and three other
Americans.On CBS News’ “Face the Nation” Sunday, the 2008 Republican presidential nominee said President Obama has been incompetent with the way he has been handling the aftermath of the Sept. 11 attack.
“I don’t know if it’s either a cover-up or the worst kind of incompetence, which doesn’t qualify the president as commander in chief,” McCain said.
Read More @ CBSlocal.com
Postcards From An Underwater New York
Once
the surge levees break, the water level just soars and covers
everything in a "reverse Titanic" as the following pictures demonstrate:Wealth Inequality in America
Plenty
of talk has gone into the rising income inequality that America has
experienced since the early 1970s. But income is merely a wealth flow,
and the truer measure of equality is the distribution of net worth and
financial wealth (the wealth stock). The historical change is clear:
the bottom 80% have gotten considerably poorer both in financial wealth and in terms of total net worth.Thank You Shaun
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How Central Bank Policy Impacts Asset Prices Part 5: How Far Can They Go?
With
the unlimited asset purchase announcements by the Fed and ECB
recently, the limits of balance sheet expansion will be put to the test.
The current levels would have been seen as inconceivable a mere few years ago
and now it seems business-as-usual as investors have become
heuristically biased away from the remarkable growth. The problem is - central banks are missing inflation targets and credit growth is still declining - need moar easing, forget the consequences.
Hurricane Sandy has created record flood levels of 13.8 ft. The
Subway will be shut down for over a week and over 2 million without
power. It is also causing flood levels to rise above cars.
Gold closed at $1,716 per ounce last Friday, almost $80 below the peak of $1,791.75 it reached three weeks ago. The drop was widely attributed to continuing global economic uncertainty and speculators taking profits – which means the experts have no idea what really happened. We don’t try to second-guess short-term fluctuations here at Casey Research, but instead keep our focus on the bigger picture.
In the greater scheme of things, a 4.2% decline is not a significant drop for gold; for a savvy investor, it’s another chance to buy bullion cheaper. We’re not alone in thinking that way: Reuters reports that gold holdings of metal-backed exchange-traded funds grew over this period. There are indications that Indians preparing for their festival season pushed demand higher as well.
Read More @ CaseyResearch.com
Gold closed at $1,716 per ounce last Friday, almost $80 below the peak of $1,791.75 it reached three weeks ago. The drop was widely attributed to continuing global economic uncertainty and speculators taking profits – which means the experts have no idea what really happened. We don’t try to second-guess short-term fluctuations here at Casey Research, but instead keep our focus on the bigger picture.
In the greater scheme of things, a 4.2% decline is not a significant drop for gold; for a savvy investor, it’s another chance to buy bullion cheaper. We’re not alone in thinking that way: Reuters reports that gold holdings of metal-backed exchange-traded funds grew over this period. There are indications that Indians preparing for their festival season pushed demand higher as well.
Read More @ CaseyResearch.com
by Doc Vega, Now Public:
The wheels of justice grind slowly but they do grind after all.
Major players in the Obama White House have been targeted in a law suit by Spire Law Group who is responsible for recovering 43 trillion in laundered funds and racketeering that has been linked to major banks, crony capitalists, and government officials. This scheme based in New York will be party to the biggest federal government lawsuit in history. The government will attempt to recover 43 trillion in taxpayer’s funds disbursed during the 2009 bailout that totaled 787 billion to supposedly save the US financial markets from a massive collapse while funding infrastructure projects though out the US such as roads and bridges that were badly in need of repairs, yet only 6% of the money was ever used for such purposes.
Corrupt bailout evidence never acted upon: As many such as Rush Limbaugh had charged, the massive bailouts used for AIG, General Motors, Chrysler Corporation, a number of banks, even broadcasting companies, was apparently disbursed for other clandestine purposes such as slush funds for Democrat election campaigns. Yet, that’s not all.
A slick operation that didn’t plan on getting caught: Plaintiffs have now identified a number of individuals who were running a racketeering enterprise linked to the following individuals, who participated in and profited from the illegally deposited money.
Read more @ NowPublic.com
The wheels of justice grind slowly but they do grind after all.Major players in the Obama White House have been targeted in a law suit by Spire Law Group who is responsible for recovering 43 trillion in laundered funds and racketeering that has been linked to major banks, crony capitalists, and government officials. This scheme based in New York will be party to the biggest federal government lawsuit in history. The government will attempt to recover 43 trillion in taxpayer’s funds disbursed during the 2009 bailout that totaled 787 billion to supposedly save the US financial markets from a massive collapse while funding infrastructure projects though out the US such as roads and bridges that were badly in need of repairs, yet only 6% of the money was ever used for such purposes.
Corrupt bailout evidence never acted upon: As many such as Rush Limbaugh had charged, the massive bailouts used for AIG, General Motors, Chrysler Corporation, a number of banks, even broadcasting companies, was apparently disbursed for other clandestine purposes such as slush funds for Democrat election campaigns. Yet, that’s not all.
A slick operation that didn’t plan on getting caught: Plaintiffs have now identified a number of individuals who were running a racketeering enterprise linked to the following individuals, who participated in and profited from the illegally deposited money.
Read more @ NowPublic.com
By Deborah Baratz, Resource Investor:
A new report this week by the Beijing Antaike Information Development Co, an information center on the Chinese metals and industries markets, provided some good news for silver prices.
According to the company, analysts forecast China’s silver demand to increase as much as 10% in 2013 from investors looking to preserve their wealth.
In an Oct. 22 Bloomberg News interview, Shi Heqing, an analyst at Beijing Antaike, said silver’s demand could increase to 7,700 metric tons next year after incurring a 6% to 8% rise in 2012.
Where’s the demand for silver coming from? Around 33% is from jewelry and coins, with the remainder in industrial use for photography, solar and electrical appliances, said Antaike analysts.
This is a record level for Chinese silver demand – and good news for silver investors since China is the world’s second-biggest user of the metal.
Read More @ ResourceInvestor.com
A new report this week by the Beijing Antaike Information Development Co, an information center on the Chinese metals and industries markets, provided some good news for silver prices.
According to the company, analysts forecast China’s silver demand to increase as much as 10% in 2013 from investors looking to preserve their wealth.
In an Oct. 22 Bloomberg News interview, Shi Heqing, an analyst at Beijing Antaike, said silver’s demand could increase to 7,700 metric tons next year after incurring a 6% to 8% rise in 2012.
Where’s the demand for silver coming from? Around 33% is from jewelry and coins, with the remainder in industrial use for photography, solar and electrical appliances, said Antaike analysts.
This is a record level for Chinese silver demand – and good news for silver investors since China is the world’s second-biggest user of the metal.
Read More @ ResourceInvestor.com
from TruthNeverTold :
by Harvey Organ, HarveyOrgan.Blogspot.ca:
Good evening Ladies and Gentlemen:
Gold closed down today by $2.40 to $1708.50. Silver finished down by 28 cents to $31.73 in a very subdued trading day due to the incoming hurricane “Sandy”. In Europe we heard that Spain had a huge drop in retail sales to the tune of 11% year over year. The Government introduced their proposal for a bad bank and lo and behold the losses by the banks on Spanish real estate were immense. Even a haircut of 80% will not put them onside. Spain must fail. We will be going over these and other stories but first…
Let us now head over to the comex and assess trading today.
Read More @ HarveyOrgan.Blogspot.ca
Thank You Shaun
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Good evening Ladies and Gentlemen:
Gold closed down today by $2.40 to $1708.50. Silver finished down by 28 cents to $31.73 in a very subdued trading day due to the incoming hurricane “Sandy”. In Europe we heard that Spain had a huge drop in retail sales to the tune of 11% year over year. The Government introduced their proposal for a bad bank and lo and behold the losses by the banks on Spanish real estate were immense. Even a haircut of 80% will not put them onside. Spain must fail. We will be going over these and other stories but first…
Let us now head over to the comex and assess trading today.
Read More @ HarveyOrgan.Blogspot.ca
Thank You Shaun
Your support is needed...
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I'm PayPal Verified
from The Economic Times:
Gold traders are the most bullish in three weeks as investors’ bullion holdings rose to a record on mounting speculation that central banks will add stimulus to bolster economic growth.
Fourteen of 26 analysts surveyed by Bloomberg expect prices to rise next week, nine were bearish and three were neutral. Investors boosted holdings in exchange-traded products (ETP) to an all-time high of 2,585.1 tonne last week, valued at $142.4 billion, data compiled by Bloomberg show. Hedge funds’ bets on a rally are near the biggest in more than a year, according to US Commodity Futures Trading Commission data.
Central banks from Europe to China to the US have pledged to do more to boost economies. The yen reached a four-month low versus the dollar this week on speculation the Bank of Japan will further expand stimulus and the Federal Reserve said it plans to continue buying bonds. Gold rose 70% as the Fed bought $2.3 trillion of debt in two rounds of quantitative easing from December 2008 through June 2011.
Read More @ economictimes.indiatimes.com
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Gold traders are the most bullish in three weeks as investors’ bullion holdings rose to a record on mounting speculation that central banks will add stimulus to bolster economic growth.
Fourteen of 26 analysts surveyed by Bloomberg expect prices to rise next week, nine were bearish and three were neutral. Investors boosted holdings in exchange-traded products (ETP) to an all-time high of 2,585.1 tonne last week, valued at $142.4 billion, data compiled by Bloomberg show. Hedge funds’ bets on a rally are near the biggest in more than a year, according to US Commodity Futures Trading Commission data.
Central banks from Europe to China to the US have pledged to do more to boost economies. The yen reached a four-month low versus the dollar this week on speculation the Bank of Japan will further expand stimulus and the Federal Reserve said it plans to continue buying bonds. Gold rose 70% as the Fed bought $2.3 trillion of debt in two rounds of quantitative easing from December 2008 through June 2011.
Read More @ economictimes.indiatimes.com
from The Daily Bell:
Warrant out for Greek journalist over leak of politicians’ alleged tax evasion … Greek prosecutors have issued a warrant for the arrest of one of the country’s top journalists, after his publication Hot Doc released the so-called ‘Lagarde list’ containing the names of some 2,000 Greeks with funds hidden in Swiss bank accounts. Greek police aim to detain Kostas Vaxevanis, the owner and editor of Hot Doc, for alleged privacy violations from publishing the list of names dated to 2007. “Instead of arresting the tax evaders and the ministers who had the list in their hands, they are trying to arrest the truth and free journalism,” Vaxevanis said in an interview published online. The speaker of the Greek Parliament, several Finance Ministry employees and a number of business leaders all reportedly had Swiss HSBC bank accounts. – RT
Dominant Social Theme: These taxes must be paid – by Greek citizens, anyway.
Free-Market Analysis: So it turns out that many Greek politicians have Swiss bank accounts and are not paying taxes due. What does this tell us about “austerity”?
… Only that it is a meme, as we have previously discussed.
Read More @ TheDailyBell.com
Warrant out for Greek journalist over leak of politicians’ alleged tax evasion … Greek prosecutors have issued a warrant for the arrest of one of the country’s top journalists, after his publication Hot Doc released the so-called ‘Lagarde list’ containing the names of some 2,000 Greeks with funds hidden in Swiss bank accounts. Greek police aim to detain Kostas Vaxevanis, the owner and editor of Hot Doc, for alleged privacy violations from publishing the list of names dated to 2007. “Instead of arresting the tax evaders and the ministers who had the list in their hands, they are trying to arrest the truth and free journalism,” Vaxevanis said in an interview published online. The speaker of the Greek Parliament, several Finance Ministry employees and a number of business leaders all reportedly had Swiss HSBC bank accounts. – RT
Dominant Social Theme: These taxes must be paid – by Greek citizens, anyway.
Free-Market Analysis: So it turns out that many Greek politicians have Swiss bank accounts and are not paying taxes due. What does this tell us about “austerity”?
… Only that it is a meme, as we have previously discussed.
Read More @ TheDailyBell.com
by John Mauldin, Financial Sense:
I can only pass on Societe Generale’s work to you once in a while, but the piece for today’s Outside the Box is important enough that its author, Dylan Grice, worked hard to convince his bosses to let me share it with you. Dylan is one of my favorite investments analysts, as well as just an all-around nice guy.
In a change from his usual fun-loving demeanor, Dylan issues a serious warning here.
I am more worried than I have ever been about the clouds gathering today (which may be the most wonderful contrary indicator you could hope for…). I hope they pass without breaking, but I fear the defining feature of coming decades will be a Great Disorder of the sort which has defined past epochs and scarred whole generations….
So I keep wondering to myself, do our money-printing central banks and their cheerleaders understand the full consequences of the monetary debasement they continue to engineer?
Read More @ financialsense.com
I can only pass on Societe Generale’s work to you once in a while, but the piece for today’s Outside the Box is important enough that its author, Dylan Grice, worked hard to convince his bosses to let me share it with you. Dylan is one of my favorite investments analysts, as well as just an all-around nice guy.
In a change from his usual fun-loving demeanor, Dylan issues a serious warning here.
I am more worried than I have ever been about the clouds gathering today (which may be the most wonderful contrary indicator you could hope for…). I hope they pass without breaking, but I fear the defining feature of coming decades will be a Great Disorder of the sort which has defined past epochs and scarred whole generations….
So I keep wondering to myself, do our money-printing central banks and their cheerleaders understand the full consequences of the monetary debasement they continue to engineer?
Read More @ financialsense.com
from KingWorldNews:
Today 40 year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson, who is founder of The Portola Group, discusses every investors dream.
“We have seen some very fine discussions this week about the short-term technical and fundamental situation for gold. We thought it might also be useful to take a bit longer view of the situation as well as explain why people are frustrated with their investment allocations and the advice they have been receiving main stream financial advisors.”
Robert Fitzwilson continues @ KingWorldNews.com
Today 40 year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson, who is founder of The Portola Group, discusses every investors dream.
“We have seen some very fine discussions this week about the short-term technical and fundamental situation for gold. We thought it might also be useful to take a bit longer view of the situation as well as explain why people are frustrated with their investment allocations and the advice they have been receiving main stream financial advisors.”
Robert Fitzwilson continues @ KingWorldNews.com
New York National Guard to “protect against looting”
by Paul Joseph Watson, Prison Planet:
Scores of Twitter users have flooded the social networking site
announcing their plans to go on looting sprees once Hurricane Sandy
makes landfall, as the New York National Guard announced it would put
troops on duty in Long Island to prevent such activity.
1,175 New York National Guard troops have been mobilized to “provide command and control and logistical support” in New York City, Long Island, the Hudson Valley and the Southern Tier. According to NBC New York, the troops will also be on hand to “protect against looting.”
from Gregory Mannarino:by Paul Joseph Watson, Prison Planet:
Scores of Twitter users have flooded the social networking site
announcing their plans to go on looting sprees once Hurricane Sandy
makes landfall, as the New York National Guard announced it would put
troops on duty in Long Island to prevent such activity.1,175 New York National Guard troops have been mobilized to “provide command and control and logistical support” in New York City, Long Island, the Hudson Valley and the Southern Tier. According to NBC New York, the troops will also be on hand to “protect against looting.”
They might well be needed given the fact that a deluge
of Twitter users are using the website to appeal to others to join them
in exploiting the chaos generated by the superstorm to ransack stores.
Read More @ PrisonPlanet.com
from Gold Money:
The Federal Reserve’s new stimulus measures have had a noticeable impact on market confidence in the dollar and the solvency of our current monetary system. The Fear Index picked up in September and is once more over 3%. The money supply continues to grow at a healthy pace and is picking up speed, adding an average $50 billion every month. More significantly, the gold price rose in September, indicating that concerns about the dollar are growing (though as we saw last month with the Euro Fear Index, worries over the state of the euro are even greater).
Nevertheless, these concerns are still at historically low levels: there is still a long way to go until we reach Fear Index levels last seen in the 1980s. The monetary crisis that has been building for the last 20 years – and accelerated with the 2008 financial crisis – is still in its relatively early stages. But understanding of the underlying problems of debt and fiat money has spread beyond a small number of contrarians to a larger number of players in financial markets.
Read More @ GoldMoney.com
The Federal Reserve’s new stimulus measures have had a noticeable impact on market confidence in the dollar and the solvency of our current monetary system. The Fear Index picked up in September and is once more over 3%. The money supply continues to grow at a healthy pace and is picking up speed, adding an average $50 billion every month. More significantly, the gold price rose in September, indicating that concerns about the dollar are growing (though as we saw last month with the Euro Fear Index, worries over the state of the euro are even greater).
Nevertheless, these concerns are still at historically low levels: there is still a long way to go until we reach Fear Index levels last seen in the 1980s. The monetary crisis that has been building for the last 20 years – and accelerated with the 2008 financial crisis – is still in its relatively early stages. But understanding of the underlying problems of debt and fiat money has spread beyond a small number of contrarians to a larger number of players in financial markets.
Read More @ GoldMoney.com
by Graham Summers, Gains Pains & Capital:
Since the Financial Crisis erupted in 2007, the US Federal Reserve has engaged in dozens of interventions/ bailouts to try and prop up the financial system. Now, I realize that everyone knows the Fed is “printing money.” However, when you look at the list of bailouts/ money pumps it’s absolutely staggering how much money the Fed has thrown around.
Here’s a recap of some of the larger Fed moves during the Crisis:
Since the Financial Crisis erupted in 2007, the US Federal Reserve has engaged in dozens of interventions/ bailouts to try and prop up the financial system. Now, I realize that everyone knows the Fed is “printing money.” However, when you look at the list of bailouts/ money pumps it’s absolutely staggering how much money the Fed has thrown around.
Here’s a recap of some of the larger Fed moves during the Crisis:
- Cutting interest rates from 5.25-0.25% (Sept ’07-today).
- The Bear Stearns deal/ taking on $30 billion in junk mortgages (Mar ’08).
- Opening various lending windows to investment banks (Mar ’08).
Read More @ GainsPainsCapital.com
by Sean Kerrigan, Activist Post
We have composed this brief list of questions that should have been asked of our candidates, not because they are difficult to answer, but rather because they represent the true issues facing the country. Unlike the recent debate, we haven’t limited ourselves to the economy. In no particular order:
1) Last week was the four-year anniversary of the controversial TARP program, which authorized the use of billions of taxpayer dollars to bailout troubled banking institutions. If the country suffers another financial crisis similar to the one in 2008, would you authorize a similar bailout?
2) Late last year, the president signed the National Defense Authorization Act of 2012. It allows the government to indefinitely imprison anyone, including American citizens, suspected of committing a “belligerent act,” without trial or access to a lawyer. Is this in keeping with our values as a nation?
Read More @ Activist Post
Thank You Shaun
We have composed this brief list of questions that should have been asked of our candidates, not because they are difficult to answer, but rather because they represent the true issues facing the country. Unlike the recent debate, we haven’t limited ourselves to the economy. In no particular order:
1) Last week was the four-year anniversary of the controversial TARP program, which authorized the use of billions of taxpayer dollars to bailout troubled banking institutions. If the country suffers another financial crisis similar to the one in 2008, would you authorize a similar bailout?
2) Late last year, the president signed the National Defense Authorization Act of 2012. It allows the government to indefinitely imprison anyone, including American citizens, suspected of committing a “belligerent act,” without trial or access to a lawyer. Is this in keeping with our values as a nation?
Read More @ Activist Post
from The Daily Bell:
Tax crackdown on shoppers in Spain … A Spanish department store has been ordered to hand over transaction details of all customers spending more than 30,000 euros, as part of a crackdown on tax evasion. The ruling applies to all payments made to El Corte Ingles using their branded credit cards between 2006 and 2007. The firm – which has 11.18 million registered card users – had their appeal against the finance ministry request thrown out by Spain’s national court. – OlivePress
Dominant Social Theme: Taxes are necessary to civilization and more is better.
Free-Market News: Tax crackdowns are an emerging meme but this news, above, is especially egregious. The powers-that-be use a divide-and-conquer approach when it comes to much business and regulation.
And this approach is increasing. The idea basically is to turn businesses into tax collectors. This increases the stress and strain on society generally as businesses are being asked to do two things: To serve the customer and to report on him.
Read More @ TheDailyBell.com
Tax crackdown on shoppers in Spain … A Spanish department store has been ordered to hand over transaction details of all customers spending more than 30,000 euros, as part of a crackdown on tax evasion. The ruling applies to all payments made to El Corte Ingles using their branded credit cards between 2006 and 2007. The firm – which has 11.18 million registered card users – had their appeal against the finance ministry request thrown out by Spain’s national court. – OlivePress
Dominant Social Theme: Taxes are necessary to civilization and more is better.
Free-Market News: Tax crackdowns are an emerging meme but this news, above, is especially egregious. The powers-that-be use a divide-and-conquer approach when it comes to much business and regulation.
And this approach is increasing. The idea basically is to turn businesses into tax collectors. This increases the stress and strain on society generally as businesses are being asked to do two things: To serve the customer and to report on him.
Read More @ TheDailyBell.com
Giants fans cause mayhem after World Series victory
by Paul Joseph Watson, InfoWars:
Police were forced to break up riots in San Francisco last night as Giants fans celebrated a World Series victory by setting fires, smashing up vehicles and letting off fireworks in the street, posing the question – if Americans are willing to riot over a baseball game taking place in another city, how will they react to a contentious presidential election result or a breakdown in order following this week’s Frankenstorm?
“The Giants easily won this years World Series with a sweep over the Detroit Tigers and a celebrate that started with a calm crowd has quickly turned into a full on riot. Police officers are being hit with bottles and rocks and couches are threatening to catch power lines and buildings on fire,” reports The Inquisitr.
by Paul Joseph Watson, InfoWars:
Police were forced to break up riots in San Francisco last night as Giants fans celebrated a World Series victory by setting fires, smashing up vehicles and letting off fireworks in the street, posing the question – if Americans are willing to riot over a baseball game taking place in another city, how will they react to a contentious presidential election result or a breakdown in order following this week’s Frankenstorm?
“The Giants easily won this years World Series with a sweep over the Detroit Tigers and a celebrate that started with a calm crowd has quickly turned into a full on riot. Police officers are being hit with bottles and rocks and couches are threatening to catch power lines and buildings on fire,” reports The Inquisitr.
The scenes were a repeat of riots that hit the city in the aftermath of the Giants’ 2010 World Series triumph.
Video clips of last night’s raucous celebrations are
almost on a par with scenes witnessed recently in places like Greece and
Spain, the difference being that those riots were driven by genuine
grievances and were not in response to an ultimately meaningless sports
result.
Read More @ InfoWars.comYour support is needed...
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