Saturday, December 31, 2011

Gold 2012

As Sinclair said in his last KWN interview:  “But let me tell you that when this year is over, the only hands left holding physical gold and gold shares are the strongest hands on the planet.  Every possible weak hand has been shaken out.  Every person with emotions even latently capable of overwhelming their intellect, overwhelming their judgement, will have already overwhelmed it this week.  After this week, the people who are left are people who will never give up their positions.”
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/12/31_Richard_Russell_-_We_are_Watching_Market_History_in_Gold.html
With mounting fears over the recent plunge in gold and silver and continued volatility in markets globally, the Godfather of newsletter writers, Richard Russell, had this to say in his latest commentary:  “This year's close for gold marks the 11th year for higher year end gold closing.  To my knowledge this is the longest bull market of any kind in history in which each year's close was above the previous year.  This fabulous bull market will not end with a whisper and a fizzle.  I continue to believe that the upside gold crescendo of this bull market lies ahead.  We are watching market history.”
Richard Russell continues:
“I note the frustration and anger of the anti-gold crowd.  To miss 12 years of rising prices is enough to make any investor furious with himself.  I would guess that 99 percent of Americans have never participated in the gold bull market.  Thus, sour grapes is the sentiment of the gold-haters.  Happy to say my subscribers who listened to me in the early years of the gold bull market have enjoyed the riches bestowed upon them by the greatest bull market in history.
Below are the last day of the year quotes for gold.
2000 -- $273.60
2001 -- $279.00
2002 -- $348.20
2003 -- $416.10
2004 -- $438.40
2005 -- $518.90
2006 -- $638.00
2007 -- $838.00
2008 -- $889.00 
2009 -- $1096.50
2010 -- $1421.40
2011 -- $1566.80
Gold pessimism grows.  Market Vane's bullish consensus has plunged to a rare 56%, lowest percentage in recent years.  Gold had been down six days in a row and is now heavily oversold.  This may be the final much needed washout before the eventual blow-off.”
This bull market in gold has required tremendous patience as governments have constantly been active in a game of psychological warfare against the long-term gold holders.  This latest correction has tested the nerves of even the staunchest bulls.
  
As Sinclair said in his last KWN interview:  “But let me tell you that when this year is over, the only hands left holding physical gold and gold shares are the strongest hands on the planet.  Every possible weak hand has been shaken out.  Every person with emotions even latently capable of overwhelming their intellect, overwhelming their judgement, will have already overwhelmed it this week.  After this week, the people who are left are people who will never give up their positions.”

Thursday, December 29, 2011

Sopa Would DESTROY Jobs and the Economy … So Why are Unions Supporting It?

The promoters of the Stop Online Privacy Act (Sopa) are pretending that it would save jobs and help the economy.
But it would actually destroy jobs and hurt the economy.
No one is going to invest in the next Facebook, Google, Yahoo, Reddit, or YouTube if they know that websites can be shut down after a single unsubstantiated copyright complaint.
The only sector of our economy that’s in good shape is web technology (for example, Google is hiring like crazy right now). Sopa would put a huge dent in the web sector and destroy jobs.
Venture capitalist Fred Wilson notes:
Big companies . . . can afford to defend themselves from litigious content companies. But three person startups cannot. And Facebook, Twitter, and YouTube were three person startups not so long ago. If they had not had the protection of the safe harbors of the DMCA, they could have been litigated out of business before they even had a chance to grow and develop into the powerhouses they have become. And venture capitalists will think more than twice about putting $3mm of early stage capital into startups if they know that the vast majority of the funds will go to pay lawyers to defend the companies instead of to hire engineers to create and build product.
A group of well-known law professors say:
SOPA is a dangerous bill. It threatens the most vibrant sector of our economy – Internet commerce. It is directly at odds with the United States’ foreign policy of Internet openness, a fact that repressive regimes will seize upon to justify their censorship of the Internet. And it violates the First Amendment.

Saturday, December 24, 2011

TSA screenings aren't just for airports anymore

Roving security teams increasingly visit train stations, subways and other mass transit sites to deter terrorism. Critics say it's largely political theater.

http://4.bp.blogspot.com/_Liojofdj514/S1HmePxkt_I/AAAAAAAAA7w/yEDK6_UMErM/s320/your-papers.jpg
Rick Vetter was rushing to board the Amtrak train in Charlotte, N.C., on a recent Sunday afternoon when a canine officer suddenly blocked the way.
Three federal air marshals in bulletproof vests and two officers trained to spot suspicious behavior watched closely as Seiko, a German shepherd, nosed Vetter's trousers for chemical traces of a bomb. Radiation detectors carried by the marshals scanned the 57-year-old lawyer for concealed nuclear materials.
When Seiko indicated a scent, his handler, Julian Swaringen, asked Vetter whether he had pets at home in Garner, N.C. Two mutts, Vetter replied. "You can go ahead," Swaringen said.
The Transportation Security Administration isn't just in airports anymore. TSA teams are increasingly conducting searches and screenings at train stations, subways, ferry terminals and other mass transit locations around the country.

 

Wednesday, December 21, 2011

Your bank is not safe

Let’s speak plainly.  If you are in the United States or Western Europe, chances are incredibly high that your bank is simply not safe. In other words, your money is at risk. Big time. Let’s review some of the chief concerns:
1) A black box of assets
Banking is a complicated industry… and especially when larger banks are concerned, nobody really knows what’s under the hood. Can we say with any accuracy what’s on Bank of America, Deutsche Bank, or Citi’s balance sheets?
No way. There’s $8.5 trillion worth of mortgage-backed securities floating around the system. Not to mention, tens of trillions of dollars worth of derivatives contracts tied to mortgage-backed securities on top of that.
These assets are all highly susceptible to downturns in housing, a rise in interest rates, and a host of other systemic risks. Yet we have no earthly idea who owns what, or who the counterparties are. It’s all a black box of assets.
In a world where the most basic foundations of the financial system can no longer be accepted as truth, we cannot assume away that bank balance sheets are healthy without more careful investigation and transparent information.
2) The assets that we do know about aren’t winning any beauty prizes
When governments auction-off tens of billions of dollars worth of bonds, it’s often the banks that buy. Large banks wielding hundreds of billions, trillions of dollars have few options where they park capital. They require enormous liquidity, and it’s ironic that the most liquid bond markets are the most dangerously indebted nations.
MORE AT HEADING ABOVE!

Monday, December 19, 2011

Here’s the good news: You’re not Bank of America

Ten years ago, Goldman Sachs’ Jim O’Neill coined the term “BRICs” to lump together a group of large, rapidly-growing economies that we all know well: Brazil, Russia, India, and China.
True to his thesis at the time, growth and development in these countries has left the rest of the world for dead over the past decade.
But all good things must come to an end… and it’s now clear that the BRICs are in for a much more difficult period.
China is slowing fast. Property prices have stalled and begun pulling back, souring a huge component of economic growth. The same goes for the country’s infrastructure spending.
Even China’s stalwart manufacturing sector is showing signs of contraction based on the most recent November numbers.
In Brazil, the economy (which is highly dependent on exporting natural resources to Asia) has ground to a halt. Further, the debt-fueled domestic consumption binge among Brazilian households is slowing as debt service burdens have reached nearly 30% of the average Brazilian paycheck (vs. 16% in the US).
India, meanwhile, is struggling with runaway inflation, a collapsing rupee, political gridlock, and a series of high profile corporate collapses– led by Kingfisher Airlines, the plaything of flamboyant tycoon Vijay Mallya, who has been forced to personally guarantee the company’s debts.
The  rupee is the worst performing currency in Asia this year and has just fallen to a record low versus the US dollar.  The Indian economy is really on the skids.  Industrial output was 5.1% lower in October versus a year ago.  Output of capital equipment, which is considered a good leading indicator of future economic activity, fell a much more drastic 25.5%.

Celente Warns of 2012: Economy Will Crash, Banks Will Close, Chaos Will Ensue, Military Will Take Over

If you’ve followed trend forecaster Gerald Celente for any period of time you’ve probably realized he knows what he’s talking about. For the better part of two decades Celente and his Trends Journal have been forecasting political, financial, economic and social trends with an uncanny ability for accuracy.
In his latest interview Celente discusses a variety of different topics – from Iran and Europe to domestic militarization and the economy – and warns that our worst fears will soon be realized.
Bottom line? You ain’t seen nothin’ yet:
Gerald Celente on Jeff Rense Radio:
This passed (National Defense Authorization Act) the Senate by 93-7. I’m mentioning this because all the pieces are in place now.
The economy is going to crash. There is going to be chaos. Economic martial law will be called. Banks will close. And, chaos will ensure.
The law is now in place for the military to come in and take over. Fascism has come to America.
And if anyone thinks that I’m over blowing this, you may recall, for those of you who have been listening to Jeff Rense for the years that I’ve been on, that when Obama got elected I said there was a high probability, in 2009, of a bank holiday because of the disastrous economic conditions.

I came across a video that’s on Youtube… June of 2009… Corzine is running for re-election for Governor of New Jersey… and there’s Joe Biden… he’s campaigning for Corzine… He’s telling the audience, you know, ‘the day that we were sworn into office, the top of our agenda, the top of our list, was whether or not to call a bank holiday.’
…The point that I want to make is, and I want to drive this home, it should be headline news – the Obama administration was prepared to call a bank holiday in 2009. Economic conditions are much worse now.

Thursday, December 15, 2011

Paper: First Japan debris hits US, Canada — People warned about radiation — Recommended for Police to have Geiger counters — “Bodies will likely begin washing up in about a year”

First debris from Japanese earthquake/tsunami reaches Olympic Peninsula, Olympic Peninsula Daily News, Dec. 14, 2011:
The first piece of debris that could be identified as washing up on the West Coast from the March 11 tsunami in Japan — a large black float — was found on a Neah Bay beach two weeks ago, Seattle oceanographers Curtis Ebbesmeyer and Jim Ingraham said Tuesday night.
Since then, the two researchers [...] have learned that the black, 55-gallon drum-sized floats also have been found on Vancouver Island.
Ebbesmeyer on Debris Threat
  • About a quarter of the 100 million tons of debris from Japan is expected to make landfall on beaches from southern Alaska to California
  • Possibly in volumes large enough to clog ports
  • Flotsam in a current travels an average of seven miles per hour
  • can move as much as 20 mph if it has a large area exposed to the wind
  • Many of those bodies and parts of bodies will likely begin washing up in about a year
  • Large items still in the water should be reported to the Coast Guard, as they may represent a hazard to boats and ships
  • Some shipping lanes have already been rerouted to avoid the worst of the debris
Ebbesmeyer on Radiation Contamination Threat
  • People should also be aware of the possibility of radiation contamination
  • The Fukushima Daiichi nuclear power plant leaked a large amount of radiation into the water
  • No one knows what levels of contamination there are in the currents, and the
  • [No one knows what levels of contamination there are in] items being carried in those currents
  • [Suggests] local police take steps to have sensitive Geiger counters available to scan items
  • The event was unprecedented, and no one knows yet what levels of radiation, if any, items have picked up
Ebbesmeyer on Importance of Debris to Japanese
  • “All debris should be treated with a great reverence and respect”
  • Families in Japan are waiting to hear of any items that may have been associated with their loved ones
  • May travel to the U.S. to meet those who found these mementos
  • Rafts of debris include whole houses which may still contain many personal items
  • Japanese are known for storing important personal mementos in walls
  • Even the smallest of traceable items may be the only thing associated with one of those people who were lost
  • Contact Ebbesmeyer at CurtisEbbesmeyer@comcast.net for assistance
  • “I have a translator to read things in Japanese”
http://enenews.com/paper-first-japan-debris-hits-canada-people-warned-about-radiation-police-told-geiger-counters-parts-bodies-will-begin-washing-about-year

Wednesday, December 14, 2011

Citi Predicts Gold At $3400 In "The Next Two Years", Potential For Move As High As $6000

Tyler Durden's picture





Following today's margin call anticipating, liquidation-driven rout in gold, the weak hands are, as the saying goes, puking up blood. Which may not be a bad thing - after all, sometimes a catharsis is needed to get people away from potentially toxic paper exposure which very likely has been hypothecated repeatedly via the same channels we discussed last week when exposing the MF Global-HSBC "commingled gold" lawsuit. But what about the future? Well, nobody can ever predict it, but at least we can sometimes look at charts in an attempt to glean a pattern. Which is why we present the just released slide deck from Citi's FX Technicals group titled "The 12 Chart of Christmas" which has some blockbuster predictions about the coming year, chief among them is without doubt the firm's outlook on gold which they see at $2400 in the second half of 2012, and moving "toward $3400 over the next 2 years or so." So for those looking at today's price action, consider it an opportunity to roll out of paper exposure and into gold, because the more deflationary the environment gets, the more eager the central planning cabal will be to add a zero (which in our day and age of primarily electronic money can be done with the flip of a switch) to the end of every worthless piece of monetary equivalent paper in circulation. And that's a 100% certainty.
From Citi:
HERE

Monday, December 12, 2011

Buy Silver! Buy Gold! Buy Now!

 (Snip)
Take this move as your warning that you have very little time left before a financial catastrophe cripples a major swath of the global economy. It simply isn’t possible to now predict when the dominos will start to fall. You may have a year or more, or just months, or maybe only a few days.

Before these calamities hit, it is time to think like a survivalist. The public unrest in Tunisia, Egypt, Yemen, Syria, Greece, Italy, and Spain this year could be just a sample of what could develop around the world, including cities, towns, and villages in the US.

Take action now. That means stock up on food, medical supplies, water filters, and other necessities. It may make sense to acquire a generator or weapons and ammunition (though make sure to get proper training with weapons if you chose to own them). I have seen some people advocating barter goods like cigarettes and liquor. Those would not suit me, but they might be worth considering.

Above all, make sure to buy silver and buy gold! Specifically I mean buy bullion-priced physical forms of gold and silver and take immediate possession of them. Buy them is small size units to be more divisible, such as one ounce or smaller for gold or ten ounces or smaller for silver. Gold and silver are almost universal forms of barter goods because of their multi-thousand year history being used as money.

As long as the gold/silver ratio is above 40, I recommend purchasing a higher proportion of silver than gold. With the ratio between 25 and 40, I suggest spending about an equal amount on both metals. At a gold/silver ration below 25, I urge you to acquire a higher proportion of gold.

I don’t want to come across as an alarmist. But the desperate actions taken by major governments, central banks, and multinational banks on November 30 require immediate attention and action to protect yourself. I wish you well.

Friday, December 9, 2011

Eurozone banking system on the edge of collapse


The eurozone banking system is on the edge of collapse as major lenders begin to run out of the assets they need to keep vital funding lines open.

The eurozone banking system is on the edge of collapse as major lenders begin to run out of the assets they need to keep vital funding lines open.
The European Central Bank admitted it had held meetings about providing emergency funding to the region's struggling banks, however City figures said a "collateral crunch" was looming. Photo: Bloomberg
Senior analysts and traders warned of impending bank failures as a summit intended to solve the European crisis failed to deliver a solution that eased concerns over bank funding.
The European Central Bank admitted it had held meetings about providing emergency funding to the region's struggling banks, however City figures said a "collateral crunch" was looming.
"If anyone thinks things are getting better then they simply don't understand how severe the problems are. I think a major bank could fail within weeks," said one London-based executive at a major global bank.
Many banks, including some French, Italian and Spanish lenders, have already run out of many of the acceptable forms of collateral such as US Treasuries and other liquid securities used to finance short-term loans and have been forced to resort to lending out their gold reserves to maintain access to dollar funding.
"The system is creaking. There is a large amount of stress," said Anthony Peters, a strategist at Swissinvest, pointing to soaring interbank lending rates.
CreditSights' weekly funding report said the ECB had effectively become the central clearer for the region's banks as lenders are increasingly distrustful about funding one another.
Bank deposits with the ECB now stand at their highest level since June 2010 at €905bn (£772bn) as lenders withdraw deposits held with their peers and put them into the central bank. At the same time, banks in major eurozone countries such as France and Italy have become increasingly reliant on central bank funding. This follows the trend seen in smaller countries like Ireland where lenders have effectively becomes taxpayer-funded "zombie" banks.
Alastair Ryan, a banks analyst at UBS, said there would be "no Lehman moment" – or single catastrophic event – for the European banking sytem, but added that without a full backstop of bank liabilities by governments the system would "struggle to finance itself in the next year in a durable way".
"The system at the moment hasn't got funding of a duration that allows it to function, so it's failing," he said.
Others think the eurozone banks are heading for a catastrophe and the worry is growing that a major bank could collapse within weeks.
The results of the fourth round of European Banking Authority (EBA) stress tests conducted in just under 18 months pointed to a €115bn capital shortfall in the eurozone financial system, with German banks showing the most notable deterioration in their core capital ratios.
Moody's on Friday downgraded France's three largest banks, BNP Paribas, Credit Agricole and Societe Generale in light of what the US rating agency said were "liquidity and funding constraints". The banks' downgrade came despite Moody's acknowledging the three lenders could depend on a higher level of French taxpayer support in future.
Two weeks ago, rumours abounded that it was the near failure of a major French lender that had been the trigger for a massive co-ordinated intervention by the world's largest central banks to shore up the banking system.
The fear is the European authorities do not have the financial firepower to deal with the banks' problems. Analysts at BarCap say that even if the European rescue funds were able to raise €1 trillion of funding this would only meet the needs of the Italian and Spanish government and banks.
The European banking sector's problems are being exacerbated by a wave of asset sales as lenders look to dramatically shrink their balance sheets. UBS estimates eurozone banks could sell off between €3.7 trillion and €4.5 trillion of assets in the next three years.

US More Broke Than Greece

The U.S. is more fundamentally insolvent than Greece, yet Greek interest rates are fifty times higher than those of the U.S. This is obviously market fraud, and on a scale never before seen in human history. I (and others) have explained the mechanism here on several occasions: the fraudulent manipulation of the credit default swap market. It’s old news.
However, what no one has pointed to yet is how the U.S. has totally squandered its last chance to avoid either debt default, hyperinflation, or both. I’ve mentioned previously what the fate of the U.S. would be if its own interest rates had been fraudulently manipulated to the same levels as that of Greece.
Interest payments alone on the national debt would be more than four times total government revenues. This means the U.S. would have to completely shut down every branch and department of the U.S. government – including its entire military, and even Congress itself – and would have to totally end all government transfer payments. And even after that, taxes would have to be quadrupled merely to pay interest on its debts. This is what the Wall Street terrorists did to Greece.
Conversely, the same fraudulent mechanism which has been used to push-up interest rates all across Europe has been used in reverse, to fraudulently minimize interest rates (and payments) for the world’s biggest deadbeat-debtor. And what has the U.S. government done with these extra years of ultra-light interest payments – courtesy of Wall Street? It has squandered every second of that time and every dollar saved in interest payments, in more of the petty partisan squabbling which has characterized the U.S. government as the world’s most dysfunctional “democracy” (for lack of a better word).

Thursday, December 8, 2011

Only God Can Save The Economy

DEUS EX MACHINA

by Egon von Greyerz – December 2011
With most of the world’s major economies as well as the financial system bankrupt, there is only one solution that can save the world economy. Like in the Greek tragedies, Deus ex Machina is now the only way that the world can avoid a total economic collapse. This would involve God being lowered down onto the world stage and miraculously saving the plot.

DEUS EX MACHINA by Leo Lein – www.leolein.se
For those few who believe in this, may God bless them. But since this is a very unlikely solution most people will instead rely on governments and central banks to save us. But how can anyone possibly believe that totally incompetent and clueless politicians and central bankers could solve anything. They created the problem in the first place and are therefore totally unsuitable to play the role of Deus. The main objective of governments is to stay in power and thus to buy votes. Therefore they are incapable of taking the right decisions. And the opposition, aspiring to power is even less suitable since they will lie through their teeth and promise the earth in order to be elected. (We know that there are exceptions like Ron Paul, but the voters will most probably find his medicine too strong to swallow.)
What about central bankers, can’t they save us? Unfortunately any sensible person who becomes a central banker loses all his senses and becomes a prisoner of the political system.

Solution?

So if there is no Deus ex Machina and if governments or bankers can’t rescue the world, who can and what is the solution. Let us return to the wise von Mises to look at the options available now:
“THERE IS NO MEANS OF AVOIDING THE FINAL COLLAPSE OF A BOOM BROUGHT ABOUT BY CREDIT EXPANSION. THE ALTERNATIVE IS ONLY WHETHER THE CRISIS SHOULD COME SOONER AS A RESULT OF A VOLUNTARY ABANDONMENT OF FURTHER CREDIT EXPANSION, OR LATER AS A FINAL OR TOTAL CATASTROPHE OF THE CURRENCY SYSTEM INVOLVED”
Ludwig von Mises
Mises is absolutely correct: “There is no means of avoiding a final collapse of a boom brought about by credit expansion”. Whatever politicians, bankers, economists or others experts say, there is no solution to this crisis.We have reached the end of the road and are now staring into the abyss.
The credit manufacturing system that started in 1913 when the Fed was founded, began its terminal phase in 1971 when Nixon abolished gold backing of the dollar. It has been clear to us for at least 20 years that the outcome was inevitable. It was never a question of “if” but only “when” it would happen. It is now clear to us that the false prosperity that the world has experienced by printing unlimited amounts of money will very soon come to an end. Thus the “if” and “when” conditions are now satisfied so the remaining question is HOW?
To try to answer this let’s return to Mises: “The alternative is only whether the crisis should come sooner as a result of voluntary abandonment of further credit expansion ….”

Wednesday, December 7, 2011

12 Eurozone Downgrade Shock Waves Could Slam Into US Economy

Standard & Poor's missed the point when they "only" put 15 Eurozone nations on credit watch for possible near term downgrades. In this highly interconnected world - most of Europe can't be put on credit watch without putting much of the world on credit watch, with the United States being particularly vulnerable to global "contagion" risks.

Twelve possible implications for the United States are concisely explored herein. These "shock waves" include everything from the value of the dollar, to unemployment, gas prices, stock prices, derivatives, US bank stability, inflation, retirement investing, Federal Reserve reactions, the US deficit and credit rating, the potential criminal prosecution of S&P, and more.

Each potential "shock wave" assumes: a) that Eurozone leaders fail to credibly reach consensus; b) that this political breakdown does lead to an actual credit downgrade; c) that several European nations default on their debts; d) that there is least a partial collapse in the value of the euro; and e) that this all leads to a major downturn which materially reduces the size of the European economy. Those assumed events will not necessarily happen - much is still in play - but if even a partial Eurozone collapse does occur, then the resulting "shock waves" could rapidly change lives, standards of living, and investment values in the US and around the world.
1. US Dollar, Short Term

The US dollar's value as the world's reserve currency is likely to be substantially strengthened in the short term, as a panic-stricken globe seeks refuge from the euro collapse. The buying power of the US dollar may surge in this global rush for safety.
2. Consumer Prices

The rapidly rising value of the US dollar would have the immediate effect of making almost all imports cheaper to buy, and so a trip down the aisles of Wal-mart may for a brief period become less expensive for the American consumer. The price decreases could be exacerbated by exporters from around the world engaging in vicious price competition within the US market, trying to keep their factories going and to offset the loss in consumption in Europe.

Expanded Analysis Of Shock Waves 1-4
3. Unemployment

Because of the combination of the surge in the value of the US dollar and the reduction in the size of the European economy, US workers may face devastating job losses in two major categories: exports to other nations, and goods consumed in America.

American workers in export-driven industries will lose jobs because dollar-priced US goods will be more expensive for the rest of the world to buy. This decreasing competitiveness will be compounded by a drop in consumption in the huge European markets, resulting in less US exports. There is also the third danger of a drop in overall global consumption, as the result of exporting nations losing employment on a global basis.

The Death Of The Pacific Ocean

The Death Of The Pacific Ocean
Fukushima Debris Soon To Hit American Shores
By Yoichi Shimatsu
Exclusive To Rense.com
Hong Kong-Based Environmental Consultant
Former General Editor Japan Times Weekly In Tokyo
12-16-11

An unstoppable tide of radioactive trash and chemical waste from Fukushima is pushing ever closer to North America. An estimated 20 million tons of smashed timber, capsized boats and industrial wreckage is more than halfway across the ocean, based on sightings off Midway by a Russian ship's crew. Safe disposal of the solid waste will be monumental task, but the greater threat lies in the invisible chemical stew mixed with sea water.

This new triple disaster floating from northeast Japan is an unprecedented nuclear, biological and chemical (NBC) contamination event. Radioactive isotopes cesium and strontium are by now in the marine food chain, moving up the bio-ladder from plankton to invertebrates like squid and then into fish like salmon and halibut. Sea animals are also exposed to the millions of tons of biological waste from pig farms and untreated sludge from tsunami-engulfed coast of Japan, transporting pathogens including the avian influenza virus, which is known to infect fish and turtles. The chemical contamination, either liquid or leached out of plastic and painted metal, will likely have the most immediate effects of harming human health and exterminating marine animals.

Monday, December 5, 2011

A Very Subtle Form of Theft

Say what you want about him, but Bernie Madoff was a guy who knew how to keep the party going. For years, he ran one of the largest private-sector Ponzi schemes in history and always heeded the golden rule of financial scams: make sure your inflows are greater than your outflows.

He was finally done in when redemptions exceeded new investments. He didn’t have enough cash to pay out investors, and he wasn’t able to scam more people into paying in to the scheme. As a result, Madoff finally had to admit that the whole thing was a total fraud.

Governments around the world are in similar situations right now with their own public sector Ponzi schemes. Faced with failed auctions, declining demand, and rising yields, politicians are having to resort to desperate measures.

Like any good scam artist, they’re appealing to the masses first; all over Europe, governments are sponsoring new marketing campaigns suggesting that it’s people’s patriotic duty to buy government debt.
MORE AT HEADING ABOVE

Sunday, December 4, 2011

D.E.A. Launders Mexican Profits of Drug Cartels

WASHINGTON — Undercover American narcotics agents have laundered or smuggled millions of dollars in drug proceeds as part of Washington’s expanding role in Mexico’s fight against drug cartels, according to current and former federal law enforcement officials.
The agents, primarily with the Drug Enforcement Administration, have handled shipments of hundreds of thousands of dollars in illegal cash across borders, those officials said, to identify how criminal organizations move their money, where they keep their assets and, most important, who their leaders are.
They said agents had deposited the drug proceeds in accounts designated by traffickers, or in shell accounts set up by agents. 
MORE AT HEADING ABOVE

Friday, December 2, 2011

The End Of America

Occupied America: Senate bill 1867 would allow U.S. military to detain and murder anti-government protesters in American cities

(NaturalNews) I don't know if you're all getting this through your heads yet, but Senate Bill 1867 -- the National Defense Authorization Act -- would openly "legalize" the U.S. government's detainment and murder of OWS protesters and the assassination of talk show hosts, bloggers, journalists and anyone who holds a so-called "anti-government" point of view. This is the open and blatant declaration of war against any who do not going along with TSA thugs reaching down your pants, the Goldman Sachs economic takeover of nations, the secret arrest and torture of American citizens, and other acts of outright tyranny waged by an out-of-control government.

Those who have been burying their heads in the sand over the coming police state need to wake up and face the music. That U.S. Senators would knowingly and willfully attempt to pass a bill that legalizes the indefinite detainment, torture and killing of American citizens with no due process whatsoever -- and on American soil! -- is nothing less than a traitorous betrayal of the once-free American people. These are, our founding fathers would have said, acts of war against the People. They reveal the insidious plan to put in place a legal framework to end the Bill of Rights, murder protesters, and overrun America with total police state brutality.

Thursday, December 1, 2011

George Soros: The Global Financial System Is In A 'SELF-REINFORCING PROCESS OF DISINTEGRATION'

Investor George Soros foretold doom in a recent speech in front of the International Senior Lawyers Project, according to the WSJ.
The financial system is collapsing, and the developed world is fast falling into a "deflationary debt trap."
"The consequences could be quite disastrous," he said. "You have to do what you can to stop it developing in that direction."
Soros has been an outspoken advocate of taking more radical action to stem the European debt crisis, endorsing intervention by the European Central Bank and even eurobonds. He doesn't think too highly about the rest of the world either, speculating that global economic imbalances are continuing to destabilize the global economy.
But it's not all bad. "A lot of positive things are happening," Soros said. "I see Africa together with the Arab Spring as areas of progress. The Arab Spring was a revolutionary development."

Read more: at HEADING ABOVE

Wednesday, November 30, 2011

"China Will Not Hesitate To Protect Iran Even With A Third World War"

"China Will Not Hesitate To Protect Iran Even With A Third World War"

Tyler Durden's picture




Fast forward to 2:08: "It is puzzling to some that Major General Zhang Zhaozhong, a professor from the Chinese National Defense University, said China will not hesitate to protect Iran even with a third World War... Professor Xia Ming: "Zhang Zhaozhong said that not hesitating to fight a third world war would be entirely for domestic political needs...." And don't forget Russia, which recently said it is preparing to retaliate against NATO and has put radar stations on combat alert: "Russia is another ally of Iran, with similar policy to that of China. Toward Iran." Watch, and please forward the entire video, for an explanation of how China is approaching the situation not only in Iran, but a perspective of how they view the western "threat", as well as what tensions they face domestically.

Buck up, America!

WASHINGTON, Nov. 30 (UPI) -- The mood in the United States is sour. Although President Jimmy Carter never used the term, a "malaise" is infecting the country. Unemployment, poverty, even obesity and other measures of discontent are running at or near record levels. Abroad, conditions look equally grim.
The Arab Spring, a tragic misnomer, is by no means a road to peace, prosperity and democracy. Coalition forces will be out of Iraq by New Year's with few guarantees that Iraq will be less violent and more stable after nearly a decade of conflict.
While NATO says the security situation in Afghanistan is moving in a positive direction, governance and stability, the ultimate guarantors of a more stable country remain fragile at best. And last weekend's attack that killed two dozen Pakistani soldiers well inside the Pakistani border will inflame and not dampen the already tense relations between Islamabad and Washington.

Tuesday, November 29, 2011

Businesses plan for possible end of euro

International companies are preparing contingency plans for a possible break-up of the eurozone, according to interviews with dozens of multinational executives.
Concerned that Europe’s political leaders are failing to control the spreading sovereign debt crisis, business executives say they feel compelled to protect their companies against a crash that can no longer be wished away. When German chancellor Angela Merkel and French president Nicolas Sarkozy raised the prospect of a Greek exit from the eurozone earlier this month, it marked the first time that senior European officials had dared to question the permanence of their 13-year-old experiment with monetary union.

Wall Street Street Fraud

It looks like the EU is getting a bailout from the IMF that could be nearly $800 billion.  Gold is going straight up, and I am sure global stock markets will also surge on the bailout news.  This will not really fix what is wrong.  It will also not put an end to the chronic crisis mode Europe and the U.S. have been in for the past 3 years.  I mean, if all the global bailouts didn’t fix the problem, including $16 trillion pumped out by the Fed after the 2008 meltdown, what’s another $800 billion going to do?  The reason why things are not going to get better is that corruption is rampant and the financial system is totally broken.  Bailouts are treating the symptom, but the disease is unbridled fraud.  Many people don’t realize this because the corporate controlled mainstream media will not report on crimes of the financial elite.

You cannot have a thriving economy that is shrouded in fraud and mistrust.  Crimes continue to go unpunished, and mistrust is growing.  No bailout, no matter how big, will ever fix that.

MORE AT HEADING ABOVE

Monday, November 28, 2011

NEW US DOLLAR MEANS ECONOMIC COLLAPSE

“A NEW DOLLAR IS UNDERWAY,” reports Bob Chapman of International Forecaster fame. Banking professionals of middle sized banks apparently leaked to Chapman that the FED told the Banks to “clear safe storage” as they are “getting ready to print” a new currency.
Chapman told his readers that the presses are being oiled to roll out the NEW DOLLAR (it looks like a cheap Euro) because the FED expects the US Dollar will no longer be the reserve currency in another 18 months.
Key finance experts from around the globe are putting in their “two cents,” (which is what the new dollar will ultimately be worth), warning Americans to prepare for a Third World economy.
Beginning with the pros at the SilverDoctors, a question was posed that if the new dollar is true, then Bix Weir’s Road to Roota story of a Gold standard is dead wrong…that the Fed has put out the info Bix used as a decoy.
The Doc (Ted Butler?) answered: “It depends on whether the new dollar is a devalued fiat dollar or is backed by gold. The Fed would not divulge this beforehand because the sheeple would dump their dollars for hard assets like gold and silver to avoid the devaluation–which is the entire purpose of the new dollar.” View Entire Story Here.
Bix Weir, focusing on a coming new $100 bill, (not Chapman’s $1 dollar bill), has a different opinion: “All the Gold symbolism of a coming $100 bill indicates that there is a group of people working to end the fiat money system and return the US back to the Gold/Silver Standard.”

Senate Moves To Allow Military To Intern Americans Without Trial

The Senate is set to vote on a bill today that would define the whole of the United States as a “battlefield” and allow the U.S. Military to arrest American citizens in their own back yard without charge or trial.

“The Senate is going to vote on whether Congress will give this president—and every future president — the power to order the military to pick up and imprison without charge or trial civilians anywhere in the world. The power is so broad that even U.S. citizens could be swept up by the military and the military could be used far from any battlefield, even within the United States itself,” writes Chris Anders of the ACLU Washington Legislative Office.

Under the ‘worldwide indefinite detention without charge or trial’ provision of S.1867, the National Defense Authorization Act bill, which is set to be up for a vote on the Senate floor this week, the legislation will “basically say in law for the first time that the homeland is part of the battlefield,” said Sen. Lindsey Graham (R-S.C.), who supports the bill.

The bill was drafted in secret by Senators Carl Levin (D-Mich.) and John McCain (R-Ariz.), before being passed in a closed-door committee meeting without any kind of hearing. The language appears in sections 1031 and 1032 of the NDAA bill.

Saturday, November 26, 2011

$707,568,901,000,000:Banks Increased Total Outstanding Derivatives By A Record $107 Trillion In 6 Months

While everyone was focused on the impending European collapse, the latest soon to be refuted rumors of a quick fix from the Welt am Sonntag notwithstanding, the Bank of International Settlements reported a number that quietly slipped through the cracks of the broader media. Which is paradoxical because it is the biggest ever reported in the financial world: the number in question is $707,568,901,000,000 and represents the latest total amount of all notional Over The Counter (read unregulated) outstanding derivatives reported by the world's financial institutions to the BIS for its semi-annual OTC derivatives report titled "OTC derivatives market activity in the first half of 2011." Indicatively, global GDP is about $63 trillion if one can trust any numbers released by modern governments. Said otherwise, for the six month period ended June 30, 2011, the total number of outstanding derivatives surged past the previous all time high of $673 trillion from June 2008, and is now firmly in 7-handle territory: the synthetic credit bubble has now been blown to a new all time high. Another way of looking at the data is that one of the key contributors to global growth and prosperity in the past 10 years was an increase in total derivatives from just under $100 trillion to $708 trillion in exactly one decade. And soon we have to pay the mean reversion price.

What is probably just as disturbing is that in the first 6 months of 2011, the total outstanding notional of all derivatives rose from $601 trillion at December 31, 2010 to $708 trillion at June 30, 2011. A $107 trillion increase in notional in half a year. Needless to say this is the biggest increase in history. So why did the notional increase by such an incomprehensible amount? Simple: based on some widely accepted (and very much wrong) definitions of gross market value (not to be confused with gross notional), the value of outstanding derivatives actually declined in the first half of the year from $21.3 trillion to $19.5 trillion (a number still 33% greater than US GDP). Which means that in order to satisfy what likely threatened to become a self-feeding margin call as the (previously) $600 trillion derivatives market collapsed on itself, banks had to sell more, more, more derivatives in order to collect recurring and/or upfront premia and to pad their books with GAAP-endorsed delusions of future derivative based cash flows. Because derivatives in addition to a core source of trading desk P&L courtesy of wide bid/ask spreads (there is a reason banks want to keep them OTC and thus off standardization and margin-destroying exchanges) are also terrific annuities for the status quo. Just ask Buffett why he sold a multi-billion index put on the US stock market. The answer is simple - if he ever has to make good on it, it is too late.

Which brings us to the the chart showing total outstanding notional derivatives by 6 month period below. The shaded area is what that the BIS, the bank regulators, and the OCC urgently hope that the general public promptly forgets about and brushes under the carpet.

Try not to laugh. Or cry. Or gloss over, because when it comes to visualizing $708 trillion most really are incapable of doing so.

Thursday, November 24, 2011

Two Of The Largest Financial Banking Institutions On Brink of COLLAPSE

UNCONFIRMED: Two of the world's largest financial institutions are on the brink of collapse - one of them facing bankruptcy by end of January 2012. Both of these firms are heavily exposed to JUNK EUROPEAN DEBT and they are classed as TBTF. Inside sources say that a THIRD bank is also involved - and the third bank is NOT based in Greece, Spain or Italy - but in the UK. The systemic risk posed by this UK firm is estimated as MF Global x 10 - placing many hedge funds at huge risk. <----- (I have no idea whether the information is true, I cannot confirm it, but I can say it comes from reliable and trusted inside City sources. I cannot disclose any names of firms for legal reasons). My feeling is this information may be priced in since Monday's decline.

Check Link At HEADING

Wednesday, November 23, 2011

Audit The Federal Reserve Reveals 16 Trillion in Secret Bailouts

What was revealed in the audit was startling:
$16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world’s banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest. Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious - the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs.
To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is "only" $14.5 trillion.

Tuesday, November 22, 2011

Nuclear expert says Fukushima radiation coming to USA, massive cover-up under way

Nuclear expert says Fukushima radiation coming to USA, massive cover-up under way

U.S. Post Office Is Done According To PostMaster!

The U.S. Congress should rewrite the measures it’s proposed to save the Postal Service as they wouldn’t allow enough cost reductions, Postmaster General Patrick Donahoe said.
“If passed today, either bill would provide at best one year of profitability and at least a decade of steep losses,” Donahoe said today in a speech at the National Press Club in Washington. “By taking the best of both the House and Senate approaches, Congress can provide the Postal Service with the legal framework and the business model it needs.”
The U.S. Postal Service, which forecast a record $14.1 billion loss for the 2012 fiscal year, might be profitable by its 2014 fiscal year if Congress makes all changes the service wants, including the elimination of Saturday mail delivery, Donahoe said.
The service’s mail volume has fallen more than 20 percent since 2006 as customers have shifted to electronic communication and the U.S. economy slipped into a recession. The Postal Service has said it doesn’t expect the volume of first-class mail, its most profitable type, to rebound.
The Washington-based service said last week it had a loss of $5.1 billion in the year ended Sept. 30 and would have lost more had Congress not given it more time to make a $5.5 billion payment for future retiree health-benefit costs.

Monday, November 21, 2011

The government is getting prepared. What about you?

Did you hear about the latest civil unrest in Syria?  Police in full riot gear swarmed peaceful students who were staging a completely non-violent, human-chain sit-in at a university campus.
The Syrian police came up at point-blank range and hosed these kids down with pepper spray. If you've never been assaulted with pepper spray before, let me assure you that it is easily one of the most uncomfortable experiences you could ever go through in your entire life.
It was a truly disgusting display-- meeting peace with violence and brutality. Just the sort of thing you would expect from an oppressive regime like Syria.


Except... it wasn't in Syria. It was in California... right here in the land of the free.
This sort of thing has become totally commonplace. A few days ago, a Tampa, FL newspaper published a photograph of their local police force's latest and greatest piece of equipment-- a 12-ton armored personnel carrier (APC). In laymen's terms, it's basically a tank.


 111911-news-tampa-tank-1-662w.jpg


Needless to say, the cops rolled it out, proudly displaying it in an upscale Tampa neighborhood. Never mind that the APC tracks destroy city streets at taxpayer expense...

Saturday, November 19, 2011

According To The Fed, Just Over One More Year Of ZIRP Will Lead To 38.36% Annual Inflation

Everywhere you look these days, it seems that ZIRP, or the Fed's Zero Interest Rate Policy, is the panacea to all the world's problems. In fact, ask any tenured economy Ph.D. what inflation is and you will get a stare down, be told you are a moron, that banks need to print more, more, more and that we are really roiling in deflation, with some latent mumblings about buying their economics textbook for the inflationary price of $124.95. Everywhere, that is except the Fed itself. Because in an extremely ironic twist, it is none other than the San Francisco Fed, which operates the "Be Fed chairman for a day" simulation, where you try to keep both unemployment and inflation within the "price stabeeleetee" barriers, that reveals the reality of ZIRP. The laughter really begins when one recreates precisely what the Fed is doing: namely the policy of Zero Interest Rates, now well in its third year, that things take a turn for the surreal. We challenge any reader to play the Fed simulation game, and to do what Bernanke has done: namely lock the Fed Funds rate at the legal minimum: between 0.00% and 0.25%. In our personal experience, we were dismissed as Fed Chairman after annual inflation literally went off the charts and hit 38.36% following 4 years of ZIRP.

Friday, November 18, 2011

Gold / Housing Ratio Falls To Historic Low

In gold terms, an average single family home in the United States can now be purchased for only 18% of its pre-bubble price in 2001.   The term "pre-bubble" merits emphasis:  the average house can be purchased at an 82% discount (in ounces of gold) not from the peak real estate values of 2006, but the much lower home prices of 2001, before the real estate bubble began.
These numbers are based upon the Gold / Housing ratio, which is a measure of relative value between gold and real estate.  When we take the $171,900 current median national price for an existing single family home (per the National Association of Realtors) and divide by the $1,785 price per ounce of gold as of November 15, 2011, we come up with a Gold / Housing ratio of 96, meaning it takes 96 ounces of gold to purchase an average single family home. 

Thursday, November 17, 2011

The Entire System Has Been Utterly Destroyed

"The Entire System Has Been Utterly Destroyed By The MF Global Collapse" - Presenting The First MF Global Casualty

Tyler Durden's picture




Presented without comment, merely to confirm that the market as we know it, no longer exists.
BCM Has Ceased Operations (source)
Posted by Ann Barnhardt - November 17, AD 2011 10:27 AM MST
Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management,
It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a mere spectator.
The reason for my decision to pull the plug was excruciatingly simple: I could no longer tell my clients that their monies and positions were safe in the futures and options markets – because they are not. And this goes not just for my clients, but for every futures and options account in the United States. The entire system has been utterly destroyed by the MF Global collapse. Given this sad reality, I could not in good conscience take one more step as a commodity broker, soliciting trades that I knew were unsafe or holding funds that I knew to be in jeopardy.
The futures markets are very highly-leveraged and thus require an exceptionally firm base upon which to function. That base was the sacrosanct segregation of customer funds from clearing firm capital, with additional emergency financial backing provided by the exchanges themselves. Up until a few weeks ago, that base existed, and had worked flawlessly. Firms came and went, with some imploding in spectacular fashion. Whenever a firm failure happened, the customer funds were intact and the exchanges would step in to backstop everything and keep customers 100% liquid – even as their clearing firm collapsed and was quickly replaced by another firm within the system.

Wednesday, November 16, 2011

Imminent Threat

Longtime readers know that I don’t spend much time in the United States; I usually swing by for a month or so each year to visit friends and family, and the period in-between visits can often stretch 6-months or more.
This is sufficiently long enough that I notice a lot of changes… some so drastic that they hit me in the head like a baseball bat.
For example, just last week when I was at Los Angeles International Airport, the police set up a checkpoint outside the main entrance as if we were in downtown Baghdad driving into the Green Zone.
IMG 0340 1024x768 Imminent Threat
And I couldn’t believe my eyes when, driving down Santa Monica Boulevard last Wednesday, I saw a police urban assault vehicle modeled after a US Army mechanized infantry fighting vehicle. It’s designed for one thing: maximum destruction.
It’s truly appalling how police forces across the country have become militarized. The concept of ‘peace officer’ no longer exists. Police are now paramilitary forces who only protect and serve the political class.
Because I’ve been out of the country for so long, I notice these changes more acutely; it’s like diving in head first into ice-cold water as opposed to wading in slowly. And this rise of the police state is accelerating.

Tuesday, November 15, 2011

Chinese TV Host Says Regime Nearly Bankrupt

China’s economy has a reputation for being strong and prosperous, but according to a well-known Chinese television personality the country’s Gross Domestic Product is going in reverse.

Larry Lang, chair professor of Finance at the Chinese University of Hong Kong, said in a lecture that he didn’t think was being recorded that the Chinese regime is in a serious economic crisis—on the brink of bankruptcy. In his memorable formulation: every province in China is Greece.

Lang’s assessment that the regime is bankrupt was based on five conjectures.

Firstly, that the regime’s debt sits at about 36 trillion yuan (US$5.68 trillion). This calculation is arrived at by adding up Chinese local government debt (between 16 trillion and 19.5 trillion yuan, or US$2.5 trillion and US$3 trillion), and the debt owed by state-owned enterprises (another 16 trillion, he said). But with interest of two trillion per year, he thinks things will unravel quickly.

Secondly, that the regime’s officially published inflation rate of 6.2 percent is fabricated. The real inflation rate is 16 percent, according to Lang.

Thirdly,
that there is serious excess capacity in the economy, and that private consumption is only 30 percent of economic activity. Lang said that beginning this July, the Purchasing Managers Index, a measure of the manufacturing industry, plunged to a new low of 50.7. This is an indication, in his view, that China’s economy is in recession.

Fourthly, that the regime’s officially published GDP of 9 percent is also fabricated. According to Lang’s data, China’s GDP has decreased 10 percent. He said that the bloated figures come from the dramatic increase in real estate development each year (accounting for up to 70 percent of GDP in 2010).

Fifthly, that taxes are too high. Last year, the taxes on Chinese businesses (including direct and indirect taxes) were at 70 percent of earnings. The individual tax rate sits at 81.6 percent, Lang said.
Once the “economic tsunami” starts, the regime will lose credibility and China will become the poorest country in the world, Lang said.

Monday, November 14, 2011

Economic Collapse? We’re Soaking In It!

Since the derivatives and housing market implosion of 2008, America and the rest of the world has been spiraling down a chasm some in this country still refuse to take note of. The question has never been whether there “will be” a full scale financial disaster. The end to that chapter of this story was already written years ago. Rather, the real question has been “when” will this inevitable event culminate? Sadly, speculation on the matter has met an irreconcilable road block. The fact is, all the necessary elements are in place to bring down our fiscal shelter not in five years, not in one year, not in six months, but today. That’s right…..the economy as we know it has the potential to derail completely before you wake up for your morning poptart. Some skeptics might shrug off this statement as mere sensationalism for effect. I wish that were the case. Frankly, I would enjoy writing a little fiction for once. The truth is far too bizarre and disturbing lately. In the case of economics, traditional views and standards have gone completely out the window in a way that I and probably every other analyst in the field have never heard of or encountered. All expectations are now null and void. Manipulation of the marketplace is no longer a subversive and secretive process, but open government and central banking policy! Who could have guessed five years ago, for instance, that U.S. taxpayers would be saddled with bailouts of the EU? Who could have predicted that global stock market psychology would be dominated for over a year by the debt drama of a country as economically insignificant as Greece? And, who could have foreseen that destructive fiat stimulus policies would soon be common knowledge events amongst the citizens of various faltering nations?

Friday, November 11, 2011

A Nation That Is Doomed

"When I consider all that is wrong in our society, I become despondent, angry and despairing for the future of our country. It seems that everyone in positions of power across the spectrum of education, religion, finance, and politics are psychopaths, bent upon self-destruction no matter the cost to society or unborn generations. Our nation has degenerated into an egocentric, self-loathing, vain, shallow excuse for a civilization. There is anger flaring up, but it is just as likely to be misdirected and misinformed. The lack of critical thinking skills and the overwhelming effects of media propaganda has so degraded the intelligence of the populace that when the system breaks down in the next few years, the masses will clamor for a savior rather than seeking truthful answers and willingly making the sacrifices required to get our nation back on track. This country will get what it deserves – a despotic ruler and a brutish civilization governed on the basest of principles. This is what happens when a society rewards lying and greed over honesty and compassion. There are consequences to actions and inactions alike. We’ve made our choice."

Thursday, November 10, 2011

Israel may launch strike on Iran as soon as next month

Israel will launch military action to prevent Iran developing a nuclear weapon as soon as Christmas, intelligence chiefs have warned.
A report by a UN watchdog into Iran’s nuclear ambitions ‘completely discredits’ the Islamic nation’s protestations of innocence, according to Foreign Secretary William Hague.
The International Atomic Energy Agency found that Iran is developing a nuclear test facility, nuclear detonators and computer modelling for a nuclear warhead that would fit on an existing missile.
Sources say the understanding at the top of the British Government is that Israel will attempt to strike against the nuclear sites ‘sooner rather than later’ – with logistical support from the U.S.
A senior Foreign Office figure has revealed that ministers have been told to expect Israeli military action, adding: ‘We’re expecting something as early as Christmas, or very early in the new year.’

Read more: http://www.dailymail.co.uk/news/article-2059462/UN-report-Iran-IS-trying-build-nuclear-bomb-warns-William-Hague.html#ixzz1dIyf6NHj

Wednesday, November 9, 2011

100% Chance of Crisis, Worse Than 2008: Jim Rogers

The world is definitely going to face another financial crisis stemming from problems in Europe, Jim Rogers said Wednesday.

"We're certainly going to have more crises coming out of Europe and America; the world is in trouble. The world has been spending staggering amounts of money that it doesn't have for a few decades now, and it's all coming home to roost," Rogers, CEO and chairman Rogers Holdings told CNBC.

He added that the crisis would be much worse than the one markets saw in 2008 because the debt is much higher now.

Tuesday, November 8, 2011

Deutsche Bank on Europe: 'It's Not Inconceivable That We Could Be In Full Crisis Mode By The End Of This Week'

Such is the severity of the situation in Italy.
Here’s Deutsche Bank’s Colin Tan talking about the same thing that everyone else is talking about:
Its not inconceivable that we could be in full crisis mode by the end of this week. The situation  with Italy feels increasingly like one that has little chance of materially improving until some extreme pressure is put on someone to act. It may not come to a head this week but the signs are not good that we can avoid an extreme situation emerging soon.
The big problem: Berlusconi doesn’t seem like he’s in an urgent mood to make reforms, the ECB isn’t doing much, and China and Brazil have dropped out of the picture.
Hence we could get a big bustup:
For us there is no obvious near-term solution other than a stress event which prompts action.
Maybe the EU authorities will use the experience learnt from the Greece situation last week
that a hard-line response is the only way to force countries to act in the way they want. It is a
big risk but at the moment the weaker countries seem to still want the Euro enough that the
ECB and Germans could play hard ball and get what they want if they are prepared to take the risk. Indeed ECB Governing Council member Yves Mersch fired a warning over the weekend saying that the ECB often discusses the possibility of ending the purchase of Italian
government bonds and could if it concludes Italy is not adopting promised reforms. Such talk
will not encourage private capital into Italy meaning that the ECB may need to intervene more
to have the required impact. 

Monday, November 7, 2011

Denial, Delusion and MSM Disinformation


7 November 2011
By Greg Hunter’s USAWatchdog.com 
What is going on in the world today is both frightening and historic.  It is frightening because the amount of debt accumulated is orders of magnitude more than ever before.  It is historic because the way this finally shakes out will be considered a major turning point in modern history.  I see this, but most people in the world are either in denial, delusional or just a victim of disinformation by the mainstream media (MSM).  If you read this site often, you know I heavily source what I write about.   I do this because I want people to have solid information and analysis.  For example, just last week, a Morgan Stanley analyst named Joachim Fels sent a research note out to clients that talked about the EU sovereign debt crisis.  Here is part of what Mr. Fels said, “This past week, by raising the possibility that a country might (be forced to) leave the euro, core European governments may have set in motion a sequence of events which could potentially lead to runs on sovereigns and banks in peripheral countries that make everything we have seen so far in this crisis look benign.”  (Click here to read the entire story from Zerohedge.com.)   

10 Reasons Why Silver is a Better Investment than Gold

Would you like to see your investments double, how about triple or even quadruple? If you invest in silver you will see just that. If you already invested in silver (when I suggested it 3 years ago) you would have already have seen your investments tripled. Can you say that about real estate or stocks? NO. If you want to become rich in the very near future, hock everything, quit buying stupid worthless things and start buying physical silver.

Right now we are watching a historical rise in the price of silver and gold and while gold has always been the king of metals I would like to make the case that silver will not only out-pace gold but it has already done so. Even with the current set back silver is still up 50% from last year!

Why should silver win the currency race?

There are 10 reasons why silver has already out-paced gold and will continue to do so in the very near future, they are:
CLICK AT HEADING LINK ABOVE

Sunday, November 6, 2011

Most of U.S. Unemployed No Longer Receive Benefits

The jobs crisis has left so many people out of work for so long that most of America's unemployed are no longer receiving unemployment benefits.
Early last year, 75 percent were receiving checks. The figure is now 48 percent -- a shift that points to a growing crisis of long-term unemployment. Nearly one-third of America's 14 million unemployed have had no job for a year or more.
Congress is expected to decide by year's end whether to continue providing emergency unemployment benefits for up to 99 weeks in the hardest-hit states.
If the emergency benefits expire, the proportion of the unemployed receiving aid would fall further.

Read more: At Heading Above

Friday, November 4, 2011

Collapsing Countries One By One

ROME (Reuters) - Italian Prime Minister Silvio Berlusconi defiantly refused to step down on Friday despite growing desertions from his crumbling center-right coalition that have left the fate of his government hanging by a thread.
Berlusconi is widely believed to have already lost the numbers he needs to survive in parliament but he told reporters at a G20 summit in France: "We have a majority which I continue to believe is solid and so we will continue to govern."
The 75-year-old media magnate described party rebels as traitors to the country and said they would return to the fold once he spoke to them.
Berlusconi, caught in the crossfire from European powers and a party revolt at home, agreed at the summit to IMF monitoring of economic reforms which he has long promised but failed to implement. He said he had turned down an offer of IMF funding for Italy.
All this may soon be irrelevant to Berlusconi who returns home later on Friday to face what looks increasingly like a deadly rebellion by his own supporters..

More at Heading Above