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