http://libertyarchives.com/farlive/FS2_WED.MP3
Adam Sharp: Is gold cooked? No way!
16 hours ago
Showing posts with label Bob Chapman. Show all posts
Showing posts with label Bob Chapman. Show all posts
Wednesday, September 15, 2010
Thursday, September 2, 2010
Friday, August 27, 2010
Friday, August 20, 2010
Gold Seek Radio - Dr. Ron Paul, Harry S. Dent Jr., Chris Waltzek & The International Forecaster Bob Chapman
http://radio.goldseek.com/shows/2010/08.21.2010/GSR-08.21.10-c.mp3
1st Hour:
Headline news & the Market Weatherman Report.
Spotlight Stock Picks.
Host Chris Waltzek & The International Forecaster discussion and answer listener's questions.
2nd Hour:
Dr. Ron Paul
ronpaul.org
Congressman Ron Paul of Texas enjoys a national reputation as the premier advocate for liberty in politics today. Dr. Paul is the leading spokesman in Washington for limited constitutional government, low taxes, free markets, and a return to sound monetary policies based on commodity-backed currency. He is known among both his colleagues in Congress and his constituents for his consistent voting record in the House of Representatives: Dr. Paul never votes for legislation unless the proposed measure is expressly authorized by the Constitution. In the words of former Treasury Secretary William Simon, Dr. Paul is the "one exception to the Gang of 535" on Capitol Hill.
Ron Paul was born and raised in Pittsburgh, Pennsylvania. He graduated from Gettysburg College and the Duke University School of Medicine, before proudly serving as a flight surgeon in the U.S. Air Force during the 1960s. He and his wife Carol moved to Texas in 1968, where he began his medical practice in Brazoria County. As a specialist in obstetrics/gynecology, Dr. Paul has delivered more than 4,000 babies! He and Carol, who reside in Surfside Beach, Texas, are the proud parents of five children and have seventeen grandchildren.
While serving in Congress during the late 1970s and early 1980s, Dr. Paul's limited-government ideals were not popular in Washington. He served on the House Banking committee, where he was a strong advocate for sound monetary policy and an outspoken critic of the Federal Reserve's inflationary measures. He also was a key member of the Gold Commission, advocating a return to a gold standard for our currency. He was an unwavering advocate of pro-life and pro-family values. Dr. Paul consistently voted to lower or abolish federal taxes, spending, and regulation, and used his House seat to actively promote the return of government to its proper constitutional levels. In 1984, he voluntarily relinquished his House seat and returned to his medical practice.
Dr. Paul returned to Congress in 1997 to represent the 14th Congressional district of Texas. He serves on the House of Representatives Financial Services Committee, and the International Relations committee. On the Financial Services Committee, Rep. Paul serves as the vice-chairman of the Oversight and Investigations subcommittee. He continues to advocate a dramatic reduction in the size of the federal government and a return to constitutional principles.
Dr. Paul is the author of several books, including Challenge to Liberty; The Case for Gold; and A Republic, If You Can Keep It. He has been a distinguished counselor to the Ludwig von Mises Institute, and is widely quoted by scholars and writers in the fields of monetary policy, banking, and political economy. He has received many awards and honors during his career in Congress, from organizations such as the National Taxpayers Union, Citizens Against Government Waste, the Council for a Competitive Economy, Young Americans for Freedom, and countless others.
Dr. Paul's consistent voting record prompted one Congressman to comment that "Ron Paul personifies the Founding Fathers' ideal of the citizen-statesman. He makes it clear that his principles will never be compromised, and they never are." Another Congresswoman added that "There are few people in public life who, through thick and thin, rain or shine, stick to their principles. Ron Paul is one of those few."
Harry S. Dent Jr.
The Great Depression Ahead
Harry S. Dent, Jr. is the Founder and President of the H. S. Dent Foundation, whose mission is “Helping People Understand Change”. Using exciting new research developed from years of hands-on business experience, Mr. Dent offers a refreshingly positive and understandable view of the future. Mr. Dent is a well-known author and is known as the developer of The Dent Method, a forecasting approach based on changes in demographic trends.
In his book The Great Boom Ahead, published in 1992, Mr. Dent stood virtually alone in accurately forecasting the unanticipated “Boom” of the 1990s. Today he continues to educate audiences about his predictions for the next and possibly last great bull market, from late 2005 into early to mid 2010. Since 1992 he has authored two consecutive best sellers The Roaring 2000s and The Roaring 2000s Investor (Simon and Schuster). In his latest book, The Next Great Bubble Boom, he offers a comprehensive forecast for the next two decades and explains how fundamental trends suggest strong growth ahead, followed by a longer-term economic contraction. Mr. Dent also publishes the HS Dent Forecast newsletter, which offers current analysis of economic, and financial market trends.
Mr. Dent received his MBA from Harvard Business School, where he was a Baker Scholar and was elected to the Century Club for leadership excellence. Since 1988 he has been speaking to executives, financial advisors and investors around the world. He has appeared on “Good Morning America”, PBS, CNBC, CNN/FN, and has been featured in Barron’s, Investor’s Business Daily, Entrepreneur, Fortune, Success, US News and World Report, Business Week, The Wall Street Journal, American Demographics and Omni.
While at Bain & Company he worked as a consultant with several Fortune 100 companies. He has also been CEO of several entrepreneurial growth companies and an investor in new ventures. A frequent speaker on economic trends, Mr. Dent educates clients and partners on The Dent Method and provides strategic vision for asset allocation and investment selection.
1st Hour:
Headline news & the Market Weatherman Report.
Spotlight Stock Picks.
Host Chris Waltzek & The International Forecaster discussion and answer listener's questions.
2nd Hour:
Dr. Ron Paul
ronpaul.org
Congressman Ron Paul of Texas enjoys a national reputation as the premier advocate for liberty in politics today. Dr. Paul is the leading spokesman in Washington for limited constitutional government, low taxes, free markets, and a return to sound monetary policies based on commodity-backed currency. He is known among both his colleagues in Congress and his constituents for his consistent voting record in the House of Representatives: Dr. Paul never votes for legislation unless the proposed measure is expressly authorized by the Constitution. In the words of former Treasury Secretary William Simon, Dr. Paul is the "one exception to the Gang of 535" on Capitol Hill.
Ron Paul was born and raised in Pittsburgh, Pennsylvania. He graduated from Gettysburg College and the Duke University School of Medicine, before proudly serving as a flight surgeon in the U.S. Air Force during the 1960s. He and his wife Carol moved to Texas in 1968, where he began his medical practice in Brazoria County. As a specialist in obstetrics/gynecology, Dr. Paul has delivered more than 4,000 babies! He and Carol, who reside in Surfside Beach, Texas, are the proud parents of five children and have seventeen grandchildren.
While serving in Congress during the late 1970s and early 1980s, Dr. Paul's limited-government ideals were not popular in Washington. He served on the House Banking committee, where he was a strong advocate for sound monetary policy and an outspoken critic of the Federal Reserve's inflationary measures. He also was a key member of the Gold Commission, advocating a return to a gold standard for our currency. He was an unwavering advocate of pro-life and pro-family values. Dr. Paul consistently voted to lower or abolish federal taxes, spending, and regulation, and used his House seat to actively promote the return of government to its proper constitutional levels. In 1984, he voluntarily relinquished his House seat and returned to his medical practice.
Dr. Paul returned to Congress in 1997 to represent the 14th Congressional district of Texas. He serves on the House of Representatives Financial Services Committee, and the International Relations committee. On the Financial Services Committee, Rep. Paul serves as the vice-chairman of the Oversight and Investigations subcommittee. He continues to advocate a dramatic reduction in the size of the federal government and a return to constitutional principles.
Dr. Paul is the author of several books, including Challenge to Liberty; The Case for Gold; and A Republic, If You Can Keep It. He has been a distinguished counselor to the Ludwig von Mises Institute, and is widely quoted by scholars and writers in the fields of monetary policy, banking, and political economy. He has received many awards and honors during his career in Congress, from organizations such as the National Taxpayers Union, Citizens Against Government Waste, the Council for a Competitive Economy, Young Americans for Freedom, and countless others.
Dr. Paul's consistent voting record prompted one Congressman to comment that "Ron Paul personifies the Founding Fathers' ideal of the citizen-statesman. He makes it clear that his principles will never be compromised, and they never are." Another Congresswoman added that "There are few people in public life who, through thick and thin, rain or shine, stick to their principles. Ron Paul is one of those few."
Harry S. Dent Jr.
The Great Depression Ahead
Harry S. Dent, Jr. is the Founder and President of the H. S. Dent Foundation, whose mission is “Helping People Understand Change”. Using exciting new research developed from years of hands-on business experience, Mr. Dent offers a refreshingly positive and understandable view of the future. Mr. Dent is a well-known author and is known as the developer of The Dent Method, a forecasting approach based on changes in demographic trends.
In his book The Great Boom Ahead, published in 1992, Mr. Dent stood virtually alone in accurately forecasting the unanticipated “Boom” of the 1990s. Today he continues to educate audiences about his predictions for the next and possibly last great bull market, from late 2005 into early to mid 2010. Since 1992 he has authored two consecutive best sellers The Roaring 2000s and The Roaring 2000s Investor (Simon and Schuster). In his latest book, The Next Great Bubble Boom, he offers a comprehensive forecast for the next two decades and explains how fundamental trends suggest strong growth ahead, followed by a longer-term economic contraction. Mr. Dent also publishes the HS Dent Forecast newsletter, which offers current analysis of economic, and financial market trends.
Mr. Dent received his MBA from Harvard Business School, where he was a Baker Scholar and was elected to the Century Club for leadership excellence. Since 1988 he has been speaking to executives, financial advisors and investors around the world. He has appeared on “Good Morning America”, PBS, CNBC, CNN/FN, and has been featured in Barron’s, Investor’s Business Daily, Entrepreneur, Fortune, Success, US News and World Report, Business Week, The Wall Street Journal, American Demographics and Omni.
While at Bain & Company he worked as a consultant with several Fortune 100 companies. He has also been CEO of several entrepreneurial growth companies and an investor in new ventures. A frequent speaker on economic trends, Mr. Dent educates clients and partners on The Dent Method and provides strategic vision for asset allocation and investment selection.
Wednesday, August 11, 2010
Bob Chapman - The International Forecaster "Economy Teeters On The Brink and Market Manipulation Continues" August 11, 2010
http://www.theinternationalforecaster.com/International_Forecaster_Weekly/Economy_Teeters_On_The_Brink_and_Market_Manipulation_Continues
Economy Teeters On The Brink and Market Manipulation Continues
A weekly excerpt from the subscription issue of The International Forecaster, taken from Bob Chapman's weekly publication. August 11 2010: Business as usual in America, deception abounds on Wall Street, more borrowed money created out of thin air, Fed may change tactics to force banks to lend,Gold clearly manipulated down every expiration day, and no jail time for anyone yet at Goldman Sachs, Citigroup, or Berkshire Hathaway, market manipulation continues as economy teeters on the brink.
Saturday, August 7, 2010
Monday, August 2, 2010
Bob Chapman on Financial Survival with Melody Cedarstrom of Discount Gold & Silver August 2, 2010
CLICK HERE to Listen to Bob Chapman on Financial Surivival with Melody Cedarstrom of Discount Gold & Silver.
Thursday, July 29, 2010
Gold prices could range from $3,000 to $7,600 based on today’s rate of inflation. Silver will follow in lock step - Bob Chapman
http://theinternationalforecaster.com/International_Forecaster_Weekly/Accounting_for_the_Counterparties_in_the_Goldman_Sachs_Debacle
"These events are laying the groundwork for higher gold and silver prices, which will reflect the loss in buying power in all currencies, as they have over the past five years. Gold prices could range from $3,000 to $7,600 based on today’s rate of inflation. Silver will follow in lock step and could have an even more powerful move."
"These events are laying the groundwork for higher gold and silver prices, which will reflect the loss in buying power in all currencies, as they have over the past five years. Gold prices could range from $3,000 to $7,600 based on today’s rate of inflation. Silver will follow in lock step and could have an even more powerful move."
Sunday, July 25, 2010
Bob Chapman on Discount Gold and Silver Trading Radio 23 July 2010
July 24, 2010 excerpt of Bob Chapman's International Forecaster
http://www.theinternationalforecaster.com/International_Forecaster_Weekly/Talk_of_Recovery_Hides_Collapse
"The only answer, as we pointed out before, is for the nations to have a meeting, execute global currency revaluation and devaluation and placing gold perhaps at $10,000 an ounce to back the dollar or some substitute currency. If the choice was the dollar then we’d have to have to see just how much gold the US really has. What it doesn’t have it would have to purchase. In that process the Federal Reserve should be relieved of its charter and its functions returned to the US Treasury. That would stop the unlimited issuance of money and credit." - Bob Chapman on The International Forecaster July 24, 2010
Saturday, July 24, 2010
Bob Chapman on Discount Gold & Silver + An Excerpt From The International Forecaster
Bob Chapman on Discount Gold & Silver
http://www.youtube.com/watch?v=cquXGkZDaPE
http://www.theinternationalforecaster.com/International_Forecaster_Weekly/The_Fed_Participates_In_The_Destruction_Of_The_Economy
The Fed Participates In The Destruction Of The Economy
A weekly excerpt from the subscription issue of The International Forecaster, taken from Bob Chapman's weekly publication.
July 21 2010: Fed rewarded for destruction of the economy, token injections of cash into the system, liquidation racket is destruction, Cap and Trade another tax, devaluation will destroy the system.
The miscreants in Congress have just passed their version of so-called financial reform, which they euphemistically call financial regulation legislation, which when signed by our peerless leader, will set up the Federal Reserve as a totalitarian monstrosity with absolute control over our financial system as a reward for the Fed's intentional destruction of our economy.
Now mind you, the Federal Reserve, which Congress has now put in charge of our entire financial system, is the privately owned, and largely foreign owned, central bank of the US which has always operated, and which continues to operate, in total secrecy, and with zero accountability. So, after the Fed destroyed our economy with malice aforethought, it certainly must have made perfect sense to the apparent morons and village idiots in Congress to put the Fed completely in charge. That way, we won't have the slightest clue about what is being done to our financial system, which the Fed will regulate in total secrecy, with the usual zero accountability, and with input from the Fed's foreign owners who will have a say over our economy and our financial system from behind the scenes. Who could possibly argue with such logic? You just can't make this stuff up! Obviously, our Congress are not idiots, as they know exactly what they are doing. After all, what would you expect from a bunch of corrupt Illuminist marionettes who are either on the take, who are compromised by the skeletons in their closet, or both.
To summarize what has just happened in more colorful terms, our Congress Critters, in their utterly profound wisdom (corruption), under the guise of financial reform (the creation of a financial monopoly), have set the Fed up at the top of the financial food chain, like a great white shark looking over a large school of tasty fish (other banks, and also many other financial institutions like investment banks, insurance companies, hedge funds, pension funds, brokerage firms, commodity firms, etc., aka "non-bank financial companies," aka the competition). The proposed Financial Stability Oversight Council (FSOC), which is little more than a bunch of Illuminist marionettes like our Congress, will make all the new rules and regulations for the Fed to lord it over all the other financial institutions in our economy. In reality, the Fed will write all the rules and hand them to the FSOC for rubber-stamping.
Then we have the proposed Office of Financial Research, which will be set up as the new financial Gestapo, gathering information about all the problems being experienced by banks and non-bank financial companies alike so that this information can be used against them in order to eliminate them from competition, to liquidate them among the larger institutions for pennies on the dollar, and to provide juicy tidbits of insider trading information for the fun and profitability of Fed cronies. Picture pieces of meat being fed to a school of hungry piranhas if you would like an appropriate metaphor.
Did you ever wonder why the Fed keeps doling out loans to their crony legacy banks that are parked at favorable rates of interest with the Fed instead of being loaned out into the general economy to help fuel the recovery, so-called. Is it to shore up the financial reports of the zombie banks? Nothing could shore up their financial reports except blatant lies about their assets by using mark-to-model fantasy values instead of mark-to-model reality values. This is just the token excuse given for this free ride gift from the Fed to the Illuminist legacy banks. The real reasons for this storehouse of sterilized money are quite different, and are multi-faceted.
First, this is one of the chief methods that the Illuminists are using to impoverish pensioners and savers while enriching the Illuminist banks at taxpayer expense by giving them a spread (return on the money they borrow from the Fed, at near zero interest, and then park with the Fed, at 3%, no-risk interest), thereby keeping their zero interest loan money out of the general economy, which they intend to destroy to pave the way for a one-world government, while simultaneously keeping inflation in check because the money is not circulating in the general economy via loans (the money is thereby said to be "sterilized").
CLICK HERE to continue reading
http://www.youtube.com/watch?v=cquXGkZDaPE
http://www.theinternationalforecaster.com/International_Forecaster_Weekly/The_Fed_Participates_In_The_Destruction_Of_The_Economy
The Fed Participates In The Destruction Of The Economy
A weekly excerpt from the subscription issue of The International Forecaster, taken from Bob Chapman's weekly publication.
July 21 2010: Fed rewarded for destruction of the economy, token injections of cash into the system, liquidation racket is destruction, Cap and Trade another tax, devaluation will destroy the system.
The miscreants in Congress have just passed their version of so-called financial reform, which they euphemistically call financial regulation legislation, which when signed by our peerless leader, will set up the Federal Reserve as a totalitarian monstrosity with absolute control over our financial system as a reward for the Fed's intentional destruction of our economy.
Now mind you, the Federal Reserve, which Congress has now put in charge of our entire financial system, is the privately owned, and largely foreign owned, central bank of the US which has always operated, and which continues to operate, in total secrecy, and with zero accountability. So, after the Fed destroyed our economy with malice aforethought, it certainly must have made perfect sense to the apparent morons and village idiots in Congress to put the Fed completely in charge. That way, we won't have the slightest clue about what is being done to our financial system, which the Fed will regulate in total secrecy, with the usual zero accountability, and with input from the Fed's foreign owners who will have a say over our economy and our financial system from behind the scenes. Who could possibly argue with such logic? You just can't make this stuff up! Obviously, our Congress are not idiots, as they know exactly what they are doing. After all, what would you expect from a bunch of corrupt Illuminist marionettes who are either on the take, who are compromised by the skeletons in their closet, or both.
To summarize what has just happened in more colorful terms, our Congress Critters, in their utterly profound wisdom (corruption), under the guise of financial reform (the creation of a financial monopoly), have set the Fed up at the top of the financial food chain, like a great white shark looking over a large school of tasty fish (other banks, and also many other financial institutions like investment banks, insurance companies, hedge funds, pension funds, brokerage firms, commodity firms, etc., aka "non-bank financial companies," aka the competition). The proposed Financial Stability Oversight Council (FSOC), which is little more than a bunch of Illuminist marionettes like our Congress, will make all the new rules and regulations for the Fed to lord it over all the other financial institutions in our economy. In reality, the Fed will write all the rules and hand them to the FSOC for rubber-stamping.
Then we have the proposed Office of Financial Research, which will be set up as the new financial Gestapo, gathering information about all the problems being experienced by banks and non-bank financial companies alike so that this information can be used against them in order to eliminate them from competition, to liquidate them among the larger institutions for pennies on the dollar, and to provide juicy tidbits of insider trading information for the fun and profitability of Fed cronies. Picture pieces of meat being fed to a school of hungry piranhas if you would like an appropriate metaphor.
Did you ever wonder why the Fed keeps doling out loans to their crony legacy banks that are parked at favorable rates of interest with the Fed instead of being loaned out into the general economy to help fuel the recovery, so-called. Is it to shore up the financial reports of the zombie banks? Nothing could shore up their financial reports except blatant lies about their assets by using mark-to-model fantasy values instead of mark-to-model reality values. This is just the token excuse given for this free ride gift from the Fed to the Illuminist legacy banks. The real reasons for this storehouse of sterilized money are quite different, and are multi-faceted.
First, this is one of the chief methods that the Illuminists are using to impoverish pensioners and savers while enriching the Illuminist banks at taxpayer expense by giving them a spread (return on the money they borrow from the Fed, at near zero interest, and then park with the Fed, at 3%, no-risk interest), thereby keeping their zero interest loan money out of the general economy, which they intend to destroy to pave the way for a one-world government, while simultaneously keeping inflation in check because the money is not circulating in the general economy via loans (the money is thereby said to be "sterilized").
CLICK HERE to continue reading
Friday, July 16, 2010
An Excerpt From Bob Chapman's "The International Forecaster" Both In Europe and in the US the Markets will go down soon
http://theinternationalforecaster.com/International_Forecaster_Weekly/White_House_Pushes_for_a_Wall_Street_Overhaul
Both In Europe and in the US the Markets will go down soon says Bob Chapman The International Forecaster the rally in the dollar is over, they will take down the banks one after the other and then they will nationalize them explains Bob Chapman , The European countries will go back to their former national currencies ..the Euro will be History......excerpt from the international forecaster of 14 July 2010 : The U.S. trade deficit hit its widest level in a year and a half, as increased imports from China more than offset growth in exports, an imbalance that is weighing on the tepid economic recovery.
The U.S. trade deficit, the difference between exports and imports, increased 4.8% to $42.3 billion in May, the Commerce Department said Tuesday. That was the widest since November 2008. April's trade gap was revised upward from earlier estimates.
U.S. exports grew 2.4% to a 20-month high of $152.3 billion. Imports grew faster, expanding 2.9% to $194.5 billion."
Both In Europe and in the US the Markets will go down soon says Bob Chapman The International Forecaster the rally in the dollar is over, they will take down the banks one after the other and then they will nationalize them explains Bob Chapman , The European countries will go back to their former national currencies ..the Euro will be History......excerpt from the international forecaster of 14 July 2010 : The U.S. trade deficit hit its widest level in a year and a half, as increased imports from China more than offset growth in exports, an imbalance that is weighing on the tepid economic recovery.
The U.S. trade deficit, the difference between exports and imports, increased 4.8% to $42.3 billion in May, the Commerce Department said Tuesday. That was the widest since November 2008. April's trade gap was revised upward from earlier estimates.
U.S. exports grew 2.4% to a 20-month high of $152.3 billion. Imports grew faster, expanding 2.9% to $194.5 billion."
Monday, July 12, 2010
Friday, July 9, 2010
The Theory of Corporatist Fascism - Bob Chapman
Below is a short segment from Bob Chapman's The International Forecaster explaining The Theory of Corporatist Fascism (it is only 3 paragraphs please read):
These financial and economic matters are very perplexing and social and political issues complicate them. The theory of corporatist fascism, that is so prevalent in America today, has spawned an economic policy of centralism, debt and monopoly driven by the privately owned Federal Reserve, banking and Wall Street. The tune is borrow and go deeper into debt to the bankers until America is bankrupt. This last chapter will be kicked off with more taxes and more fiscal debt. This will be accompanie4d by massive unemployment and eventually a deflationary depression. The unemployment problem is being deliberately allowed to worsen both by the administration and Congress, which won’t address the real reasons our nation is in such a state of failure. What else can you call the loss of 5 million jobs from free trade, globalization, offshoring and outsourcing, which is still going on and the loss of 8.4 million via recession/depression. That is 13.4 million jobs supposedly being filled by a birth/death model and service and retail jobs with little remuneration. Those who control our government, politicians and our economy are about to kick Americans when they are down. Those who control government and their emissaries loathe capitalism and love collectivism. The average American so disgusts our controllers that, if they could they would remove 80% from society.
Fascism, socialism and communism are different variations of the same theme in different keys. The media has been controlled from behind the scenes for years and parrots what they are commanded to write and say. This way few discover the real truth. The people who control us despise us and that is part of their motivation to enslave us.
This has nothing to do with the fabricated left, right paradigm. This is straight forward dictatorship controlled from Wall Street. The president and most of Congress are pliable socialists only intent on enriching themselves. Today we have the centrally planned fascist variety. All finance, production and quality of good will be decided by executive fiat and commercial monopoly. It will be as the Marxists said it will be, each according to their ability and each according to his means. That means centralized management of everything including people. Everything will be done in the public interest, which in fact is by corporate interest. Risk taking will cease to be, and our economy will resemble those of FDR, Juan Peron, Adolph Hitler and Benito Mussolini. Everything that was fascist in the past was an economic and financial failure. The 1930s and 40s were an experiment, a trail run for what we have today. Two stimulus packages and trillions of dollars later few new permanent jobs have been created and all the subsidized money and credit has been transferred via debt from the people to corporate America to bail it out. This is part of the world of in reality. These people count on the public’s ignorance to pull these scams and impose tyranny. You should be doing something about that!
Renaissance 2.0: Lesson 1 - Revisiting American History - Financial Empire (Each Lesson is 10 minutes long)
http://www.youtube.com/watch?v=l37RhdFGVsM
Lesson 1 - Revisiting American History, documents the conversion of the US into a monolithic financial empire as the Federal Reserve Act created a monopolized cartel of ... See Moreprivate interests, "Wall Street," that controls all money in the system. This killed Jeffersonian ideals and allowed vertical Hamiltonian forces to have free reign to consolidate power and wealth. It explains how this is an empire system where the top Wall Street banks are analogous to feudal lords and multi-national corporations are their feudal knights out conquering territories. It rewrites American History books.
(link to lesson 2: http://www.youtube.com/watch?v=BGTBkNJ8ZWI) 10 Minutes Long
These financial and economic matters are very perplexing and social and political issues complicate them. The theory of corporatist fascism, that is so prevalent in America today, has spawned an economic policy of centralism, debt and monopoly driven by the privately owned Federal Reserve, banking and Wall Street. The tune is borrow and go deeper into debt to the bankers until America is bankrupt. This last chapter will be kicked off with more taxes and more fiscal debt. This will be accompanie4d by massive unemployment and eventually a deflationary depression. The unemployment problem is being deliberately allowed to worsen both by the administration and Congress, which won’t address the real reasons our nation is in such a state of failure. What else can you call the loss of 5 million jobs from free trade, globalization, offshoring and outsourcing, which is still going on and the loss of 8.4 million via recession/depression. That is 13.4 million jobs supposedly being filled by a birth/death model and service and retail jobs with little remuneration. Those who control our government, politicians and our economy are about to kick Americans when they are down. Those who control government and their emissaries loathe capitalism and love collectivism. The average American so disgusts our controllers that, if they could they would remove 80% from society.
Fascism, socialism and communism are different variations of the same theme in different keys. The media has been controlled from behind the scenes for years and parrots what they are commanded to write and say. This way few discover the real truth. The people who control us despise us and that is part of their motivation to enslave us.
This has nothing to do with the fabricated left, right paradigm. This is straight forward dictatorship controlled from Wall Street. The president and most of Congress are pliable socialists only intent on enriching themselves. Today we have the centrally planned fascist variety. All finance, production and quality of good will be decided by executive fiat and commercial monopoly. It will be as the Marxists said it will be, each according to their ability and each according to his means. That means centralized management of everything including people. Everything will be done in the public interest, which in fact is by corporate interest. Risk taking will cease to be, and our economy will resemble those of FDR, Juan Peron, Adolph Hitler and Benito Mussolini. Everything that was fascist in the past was an economic and financial failure. The 1930s and 40s were an experiment, a trail run for what we have today. Two stimulus packages and trillions of dollars later few new permanent jobs have been created and all the subsidized money and credit has been transferred via debt from the people to corporate America to bail it out. This is part of the world of in reality. These people count on the public’s ignorance to pull these scams and impose tyranny. You should be doing something about that!
Renaissance 2.0: Lesson 1 - Revisiting American History - Financial Empire (Each Lesson is 10 minutes long)
http://www.youtube.com/watch?v=l37RhdFGVsM
Lesson 1 - Revisiting American History, documents the conversion of the US into a monolithic financial empire as the Federal Reserve Act created a monopolized cartel of ... See Moreprivate interests, "Wall Street," that controls all money in the system. This killed Jeffersonian ideals and allowed vertical Hamiltonian forces to have free reign to consolidate power and wealth. It explains how this is an empire system where the top Wall Street banks are analogous to feudal lords and multi-national corporations are their feudal knights out conquering territories. It rewrites American History books.
(link to lesson 2: http://www.youtube.com/watch?v=BGTBkNJ8ZWI) 10 Minutes Long
Thursday, July 8, 2010
Bob Chapman on Discount Gold and silver Trading 07 july 2010
Bob Chapman on Discount Gold and silver Trading 07 july 2010
Bob Chapman The EURO and the EU will break up and eventually everything will collapse excepte gold and Silver says Bob Chapman The International
Bob Chapman The EURO and the EU will break up and eventually everything will collapse excepte gold and Silver says Bob Chapman The International
Witness The Recent Gold Market Takedowns from Bob Chapman's The International Forecaster July 7 2010
Witness The Recent Gold Market Takedowns
A weekly excerpt from the subscription issue of The International Forecaster, taken from Bob Chapman's weekly publication. July 7 2010: whistleblowers, interesting IMF rules, an official war against gold, signs of weakening, a hole 8 million jobs deep, cuts and changes in european economy, solar energy getting money, possible northern Euro, a desire for corruption removed Glass-Steagall.
Recently we were again witness to three gold market takedowns. The first was engineered just prior to and into gold and silver options expiration. Then prior to the ETF GLD gold option expiry and the last manipulative attack commenced just prior to the dreadful unemployment housing and inventory statistics. This sort of action began in 1988 with the signing of the Executive Order by President Ronald Reagan entitled the President’s Working Group on Financial Markets,” ostensibly created to neutralize events such as the October 1987 collapse of the US stock market. Needless to say, that was not the real intention of the creation of such an order. As it has turned out the Treasury and the N.Y. Fed manipulates markets 24/7 worldwide, and they have a particular interest in the suppression of gold and silver prices; they being the antitheist of the US dollar. It should be noted that there were several times that the US Treasury and the privately owned Fed manipulated gold and silver prior to August 1988. We have found in 50 plus years of tracing this manipulative activity by the US government that it happens over and over again. There is no doubt in our minds that a great deal of what is done by government in gold and silver is done by the commercials, who privy to inside information go along for the ride. In the options operation prices are driven down for Comex options as well as GLD options, so that they expire out of the money and as well the perpetrators can cover some of their short positions. This is not difficult to execute, because other traders see what is going on and they get involved as well making the tasks easier.
This spring Andrew Maguire went public with a scam being pulled by JPMorgan Chase in the rigging of silver futures on the LBMA, an exchange similar to Comex in London. This caper was explained to the CFTC, Commodity Futures Trading Commission, months ahead of it occurring and they chose to do nothing about it. Making matters worse, when confronted with the evidence in public hearings, the CFTC didn’t want to hear about it. Maguire broke the story to others who confronted the CFTC who received lip service. The CFTC was forced to conduct a civil investigation and the Justice Department as well is conducting a criminal investigation, which we believe will go nowhere. Realizing that the CFTC, Justice, Morgan and the government are working together against the public in this matter, we are told by our sources that class action suits are being prepared and that the first one should be filed soon. It is a sad day for Americans when justice has to be forced from a corrupt government. In the end we will win but it will be a painful process.
We have found it interesting that the IMF prohibits members from tying their currencies to gold. All of you out there who believe the IMF’s, SDRs, Special Drawing Rights, will be gold backed are mistaken. This historical operating position was further proven when on August 15, 1971 the US closed the gold window. This was the advice Mr. Nixon received from Paul Volcker, who was an early member of the Trilateral Commission and is an Illuminist. Volcker has also been a leader against the US using gold in its monetary policy. Since 8/15/71 there has been an official war against gold by the elitists behind the curtain. It was that seminal event that essentially changed the future of America and the world. At that time US debt was just short of $500 billion. Today short-term debt is $14 trillion and long-term debt is $105 trillion. The engineer of the failure of the US banking system and the failure of the dollar and the rejection of it is at the feet of Mr. Volcker. What he has done to America at the behest of his Illuminist masters is reprehensible. That was eventually followed by the elimination of Glass Steagall and the looting and the collapse of our financial system. This is the result of the corruption of our system.
The result of this treachery is the coming with the complete collapse of the stock market and the end of real estate as an investment. The powers that be have destroyed a once great nation. Everywhere you look, budgets of towns, cities, counties, states and governments are in a shambles. The entire world is becoming their world. You have no doubt seen the elitists’ answer, which is we all switch to the SDR, another fiat currency, devalue all currencies versus the SDR and allow defaults among nations, just as we predicted would happen, although not in this particular way. The solutions being proffered are not solutions at all, only different methods of paying back the bankers and keeping them in business.
That keeps the leaders of the system solvent and throws the debt on the citizen. Mind you, these same bankers were the ones who destroyed our system – or better yet their system – in order to bring about world government. It should not be surprising that gold has been the investment leader.
The Illuminist bankers believe this time they are capable of shutting down the entire system and replacing it with S.D.R.s, so that they can control everything financial worldwide. This is what we have been telling the public for over 50 years and no one wanted to listen. We were called conspiracy theorists. We were dead on correct. The SDR is a stepping-stone to a world currency that can never work. Just look at the horrible results of the unnatural euro. The hunger for power, time after time, makes the rich and powerful become even more insane than they already are. G-8 is now G-20, part of the formation of amalgamation and the recognition of the failure of the euro and the EU as well. We find it ludicrous that the elitists want a broke IMF to fix the monetary system with an SDR. The same IMF that said they would never sell gold into the open market, yet that is what they are doing every day. Their plan is to back the SDR with taxes obtained from world citizens and a carbon tax. That is what the BP oil episode is all about. Don’t expect a gold or silver based currency, because that inhibits the bankers’ ability to own and run the system that has made them so rich and powerful. Sound money is something they never want to see again.
The idea of a Northern euro we believe is undoable. If the big debtors have to pay back their debt they’ll be in depression for 30 years. If they default they can return to their cheap domestic currencies, which would make their exports competitive. That Northern Union creditor group would be stuck with $2 trillion in bad paper. In addition we are very skeptical as to whether they have any gold left and if they do how much to back a new currency. The ECB probably sold off enough gold to suppress the gold price leaving the central bank with probably only 7% of the 15% they originally had. The ECB has the same situation that the Fed has, they are enveloped in debt - much of it sovereign debt. England and others have the same problem. The ECB continues to buy junk bonds because it has no choice but to do so.
These financial and economic matters are very perplexing and social and political issues complicate them. The theory of corporatist fascism, that is so prevalent in America today, has spawned an economic policy of centralism, debt and monopoly driven by the privately owned Federal Reserve, banking and Wall Street. The tune is borrow and go deeper into debt to the bankers until America is bankrupt. This last chapter will be kicked off with more taxes and more fiscal debt. This will be accompanie4d by massive unemployment and eventually a deflationary depression. The unemployment problem is being deliberately allowed to worsen both by the administration and Congress, which won’t address the real reasons our nation is in such a state of failure. What else can you call the loss of 5 million jobs from free trade, globalization, offshoring and outsourcing, which is still going on and the loss of 8.4 million via recession/depression. That is 13.4 million jobs supposedly being filled by a birth/death model and service and retail jobs with little remuneration. Those who control our government, politicians and our economy are about to kick Americans when they are down. Those who control government and their emissaries loathe capitalism and love collectivism. The average American so disgusts our controllers that, if they could they would remove 80% from society.
This has nothing to do with the fabricated left, right paradigm. This is straight forward dictatorship controlled from Wall Street. The president and most of Congress are pliable socialists only intent on enriching themselves. Today we have the centrally planned fascist variety. All finance, production and quality of good will be decided by executive fiat and commercial monopoly. It will be as the Marxists said it will be, each according to their ability and each according to his means. That means centralized management of everything including people. Everything will be done in the public interest, which in fact is by corporate interest. Risk taking will cease to be, and our economy will resemble those of FDR, Juan Peron, Adolph Hitler and Benito Mussolini. Everything that was fascist in the past was an economic and financial failure. The 1930s and 40s were an experiment, a trail run for what we have today. Two stimulus packages and trillions of dollars later few new permanent jobs have been created and all the subsidized money and credit has been transferred via debt from the people to corporate America to bail it out. This is part of the world of in reality. These people count on the public’s ignorance to pull these scams and impose tyranny. You should be doing something about that.
Last week was a telling one for the Dow, which fell 4.5%, S&P fell 5%, the Russell 2000 7.2% and the Nasdaq 100 6.09%. All technical barriers to the downside were broken. Cyclicals fell 8.1%; transports 7.2%; consumers 3.4%; utilities 2.2%; banks 8.6%; broker/dealers 7.8%; high tech 5.2%; semis 5.8%; Internets 6.2% and biotechs 6.8%. Gold bullion fell $44, the HUI 8.1% and the USDX fell 1.1% to 84.41 and the latter appears to be breaking down in its head and shoulders formation.
Two-year T-bills fell 1 bps to 0.59%; the 10-year notes fell 7 bps to 1.76% and the 10-year German bund fell 3 bps to 2.98%.
As housing sales both new and existing fell, Freddie Mac’s 30-year fixed rate mortgage fell 11 bps to 4.58%; the 15’s fell 9 bps to 4.04%; the one-year ARMs rose 3 bps to 3.80% and the 30-year fixed rate jumbo fell 2 bps to 5.50%. The massive inventory overhand continues to put downward pressure on the market and the resumption of falling prices should soon begin.
Fed credit declined $11.9 billion to $2,316 trillion. It is up 8.7% annualized and 16.6% YOY. Fed foreign holdings of Treasuries and Agencies increased $7.8 billion to a new record of $3.098 trillion. Custody holdings for foreign central banks have increased $142 billion YTD and 12% YOY.
M2, narrow, money supply rose $23.6 billion to $8.588 trillion YTD, it is up 1.9% and YOY 1.6%.
Total money market fund assets fell $5.6 billion to $2.812 trillion, YTD funds have fallen $481 billion. YOY it has fallen $851 billion, or 22.3%.
Total commercial paper was unchanged at $1.099 trillion. CP has declined $71.4 billion, or 12.2% annualized YTD, and was down $38 billion YOY, or 3.3%.
The post office wants to increase the price of a stamp by 2 cents to 46 cents starting in January. The agency has been battered by massive losses and declining mail volume and faces a financial crisis.
Postal officials announced a wide-ranging series of proposed price increases Tuesday, averaging about 5 percent, and covering first class, advertising mail, periodicals, packages and other services.
The request now goes to the independent Postal Rate Commission, which has 90 days to respond. If approved, the increase would take effect Jan. 2.
"The Postal Service faces a serious risk of financial insolvency," postal vice president Stephen M. Kearney said.
Kearney said the agency is facing a $7 billion loss in 2011. The rate increase will bring in an extra $2.5 billion, meaning it still faces a $4.7 billion loss.
The rate increase is part of a series of money-saving plans announced in March. These also include reducing mail deliveries to five days a week, closing offices and making other cuts in expenses. Congress must agree to eliminating deliveries on Saturdays.
Concern governments around the world are curtailing stimulus measures too soon spurred Barton Biggs to sell about half of his stock investments this week. Biggs, whose Traxis Partners LLC gained 38 percent in 2009 when he bought equities after the Standard & Poor’s 500 Index fell to a 12-year low, sold most of his U.S. technology holdings, he told Bloomberg Television yesterday.
Signs the U.S. economy is weakening convinced Traxis to reverse course as the S&P 500 posted a weekly slump of 5 percent, bringing its loss since April 23 to 16 percent. Biggs, 77, said yesterday he cut bullish bets by about half since June 29, when they made up 70 percent of his fund.
“I can change my mind very quickly,” Biggs, who manages $1.4 billion, said in a telephone interview following the Bloomberg Television appearance. “I’m not wildly bearish, but I don’t want to have a lot of risk at this point. I just want to have less exposure at a time like this.”
The withdrawal of government stimulus, including the U.S. Senate’s vote against extending unemployment benefits on June 30, may turn a “soft patch” into a recession, he said. The second recession in three years isn’t inevitable should “rational politicians” take action to avert it, he said.
Stocks in the U.S. have fallen nine times in 10 days, including yesterday when data on jobs and factory orders added to concern the economic rebound is slowing. On Bloomberg Television, Biggs said “policy mistakes” could curb the U.S. expansion in gross domestic product that’s forecast by economists to be 3.2 percent in 2010.
President Barack Obama today announced $1.85 billion in loan guarantees to Abengoa SA’s Abengoa Solar unit and Abound Solar Inc. to build sun-powered facilities in the U.S. that he said will create thousands of new jobs.
In his weekly address on the radio and Internet, Obama said the money from the Department of Energy will help the U.S. transition to a “clean energy economy” that creates hundreds of thousands of jobs in the future.
“We’re going to keep competing aggressively to make sure the jobs and industries of the future are taking root right here in America,” Obama said.
The loan guarantees will come from money in the $862 billion economic stimulus program enacted early last year. Obama announced the funding the day after government figures showed private employers adding fewer workers than forecast in June, reinforcing concerns the economic recovery will weaken.
“The recession from which we’re emerging has left us in a hole that’s about 8 million jobs deep,” Obama said. “And as I’ve said from the day I took office, it’s going to take months, even years, to dig our way out.”
Abengoa Solar, a unit of the Seville, Spain-based engineering company, will receive a $1.45 billion loan guarantee to build a solar-power plant in Arizona that will create 1,600 construction jobs and 85 permanent jobs, according to White House documents released in conjunction with Obama’s address.
The power plant will be the first of its kind in the U.S. and generate enough energy to power 70,000 homes, Obama said. [The same program was used in Spain and it was a total failure. The street hustler from Chicago is blowing smoke.]
Federal Reserve Chairman Ben S. Bernanke and then-New York Fed President Timothy Geithner told senators on April 3, 2008, that the tens of billions of dollars in “assets” the government agreed to purchase in the rescue of Bear Stearns Cos. were “investment-grade.” They didn’t share everything the Fed knew about the money.
The so-called assets included collateralized debt obligations and mortgage-backed bonds with names like HG-Coll Ltd. 2007-1A that were so distressed, more than $40 million already had been reduced to less than investment-grade by the time the central bankers testified. The government also became the owner of $16 billion of credit-default swaps, and taxpayers wound up guaranteeing high-yield, high-risk junk bonds.
By using its balance sheet to protect an investment bank against failure, the Fed took on the most credit risk in its 96- year history and increased the chance that Americans would be on the hook for billions of dollars as the central bank began insuring Wall Street firms against collapse. The Fed’s secrecy spurred legislation that will require government audits of the Fed bailouts and force the central bank to reveal recipients of emergency credit. [As you can see it is the duty of Mr. Bernanke as chairman of the Fed to lie about everything to the American public. This is why the Fed does not want to be audited. In the absence of an explanation we have to assume the bonds and swaps were purchased at par and are now probably worth 20 cents on the dollar.]
Once again and with greater force, Europe has snubbed its nose (and rightfully so) the Keynesian clowns in US academia and the Obama administration. Bloomberg reports Trichet Calls on EU Governments to Reduce Budget Deficits to Boost Growth.
European Central Bank President Jean- Claude Trichet pressed governments to trim their budget deficits, saying such action would boost economic growth by improving confidence of consumers and investors. “We are in a period where we have to manage budgets very tightly,” Trichet told journalists in Aix-en-Provence, France. “I have no problem with austerity, rigor. I call this good budgetary management.” Trichet said today that deficit reduction won’t choke growth and a failure to stem budget gaps would be equally risky for the recovery. “Confidence is key for growth, and if you cannot have confidence in the sustainability of the fiscal policies then you have no growth because you have no confidence,” he said. “The two things are complimentary.”
Germany to Reduce Deficit by 80 billion euros ($100 billion) over five years Reuters reports Germany plans to cut new borrowing in savings drive.
Germany plans to cut net new borrowing by some 80 billion euros ($100 billion) over five years, reducing supply of Europe's benchmark debt and adding pressure on other euro zone members to tighten their own public finances. The draft budget for 2011, which the cabinet plans to approve on Wednesday for ratification in parliament in November, will anchor a 34 billion euro reduction in new issuance over the next two years compared to earlier plans. The federal government also aims to cut spending to 307.4 billion euros next year, a 3.8-percent decrease from plans made before a "debt brake" law was passed in 2009, details of the draft made available to Reuters on Sunday showed. The budget is the latest chapter in Germany's drive to consolidate public finances, a move that has drawn criticism from some other large countries that say it is too early to withdraw support enacted during the financial crisis. Unions have promised stiff resistance and industrial action looks likely -- a threat that could rise as cuts in social services deepen and health care costs rise as planned. In addition, some politicians from within Merkel's ruling coalition say the measures are unfairly aimed at the poor, whose benefit cuts make up the largest part of the savings planned through 2014. Besides the spending cuts, the budget's planned reduction in new borrowing to 65.2 billion euros this year and 57.5 billion euros in 2011 will put the onus on other countries that share the euro currency to follow suit.
A weekly excerpt from the subscription issue of The International Forecaster, taken from Bob Chapman's weekly publication. July 7 2010: whistleblowers, interesting IMF rules, an official war against gold, signs of weakening, a hole 8 million jobs deep, cuts and changes in european economy, solar energy getting money, possible northern Euro, a desire for corruption removed Glass-Steagall.
Recently we were again witness to three gold market takedowns. The first was engineered just prior to and into gold and silver options expiration. Then prior to the ETF GLD gold option expiry and the last manipulative attack commenced just prior to the dreadful unemployment housing and inventory statistics. This sort of action began in 1988 with the signing of the Executive Order by President Ronald Reagan entitled the President’s Working Group on Financial Markets,” ostensibly created to neutralize events such as the October 1987 collapse of the US stock market. Needless to say, that was not the real intention of the creation of such an order. As it has turned out the Treasury and the N.Y. Fed manipulates markets 24/7 worldwide, and they have a particular interest in the suppression of gold and silver prices; they being the antitheist of the US dollar. It should be noted that there were several times that the US Treasury and the privately owned Fed manipulated gold and silver prior to August 1988. We have found in 50 plus years of tracing this manipulative activity by the US government that it happens over and over again. There is no doubt in our minds that a great deal of what is done by government in gold and silver is done by the commercials, who privy to inside information go along for the ride. In the options operation prices are driven down for Comex options as well as GLD options, so that they expire out of the money and as well the perpetrators can cover some of their short positions. This is not difficult to execute, because other traders see what is going on and they get involved as well making the tasks easier.
This spring Andrew Maguire went public with a scam being pulled by JPMorgan Chase in the rigging of silver futures on the LBMA, an exchange similar to Comex in London. This caper was explained to the CFTC, Commodity Futures Trading Commission, months ahead of it occurring and they chose to do nothing about it. Making matters worse, when confronted with the evidence in public hearings, the CFTC didn’t want to hear about it. Maguire broke the story to others who confronted the CFTC who received lip service. The CFTC was forced to conduct a civil investigation and the Justice Department as well is conducting a criminal investigation, which we believe will go nowhere. Realizing that the CFTC, Justice, Morgan and the government are working together against the public in this matter, we are told by our sources that class action suits are being prepared and that the first one should be filed soon. It is a sad day for Americans when justice has to be forced from a corrupt government. In the end we will win but it will be a painful process.
We have found it interesting that the IMF prohibits members from tying their currencies to gold. All of you out there who believe the IMF’s, SDRs, Special Drawing Rights, will be gold backed are mistaken. This historical operating position was further proven when on August 15, 1971 the US closed the gold window. This was the advice Mr. Nixon received from Paul Volcker, who was an early member of the Trilateral Commission and is an Illuminist. Volcker has also been a leader against the US using gold in its monetary policy. Since 8/15/71 there has been an official war against gold by the elitists behind the curtain. It was that seminal event that essentially changed the future of America and the world. At that time US debt was just short of $500 billion. Today short-term debt is $14 trillion and long-term debt is $105 trillion. The engineer of the failure of the US banking system and the failure of the dollar and the rejection of it is at the feet of Mr. Volcker. What he has done to America at the behest of his Illuminist masters is reprehensible. That was eventually followed by the elimination of Glass Steagall and the looting and the collapse of our financial system. This is the result of the corruption of our system.
The result of this treachery is the coming with the complete collapse of the stock market and the end of real estate as an investment. The powers that be have destroyed a once great nation. Everywhere you look, budgets of towns, cities, counties, states and governments are in a shambles. The entire world is becoming their world. You have no doubt seen the elitists’ answer, which is we all switch to the SDR, another fiat currency, devalue all currencies versus the SDR and allow defaults among nations, just as we predicted would happen, although not in this particular way. The solutions being proffered are not solutions at all, only different methods of paying back the bankers and keeping them in business.
That keeps the leaders of the system solvent and throws the debt on the citizen. Mind you, these same bankers were the ones who destroyed our system – or better yet their system – in order to bring about world government. It should not be surprising that gold has been the investment leader.
The Illuminist bankers believe this time they are capable of shutting down the entire system and replacing it with S.D.R.s, so that they can control everything financial worldwide. This is what we have been telling the public for over 50 years and no one wanted to listen. We were called conspiracy theorists. We were dead on correct. The SDR is a stepping-stone to a world currency that can never work. Just look at the horrible results of the unnatural euro. The hunger for power, time after time, makes the rich and powerful become even more insane than they already are. G-8 is now G-20, part of the formation of amalgamation and the recognition of the failure of the euro and the EU as well. We find it ludicrous that the elitists want a broke IMF to fix the monetary system with an SDR. The same IMF that said they would never sell gold into the open market, yet that is what they are doing every day. Their plan is to back the SDR with taxes obtained from world citizens and a carbon tax. That is what the BP oil episode is all about. Don’t expect a gold or silver based currency, because that inhibits the bankers’ ability to own and run the system that has made them so rich and powerful. Sound money is something they never want to see again.
The idea of a Northern euro we believe is undoable. If the big debtors have to pay back their debt they’ll be in depression for 30 years. If they default they can return to their cheap domestic currencies, which would make their exports competitive. That Northern Union creditor group would be stuck with $2 trillion in bad paper. In addition we are very skeptical as to whether they have any gold left and if they do how much to back a new currency. The ECB probably sold off enough gold to suppress the gold price leaving the central bank with probably only 7% of the 15% they originally had. The ECB has the same situation that the Fed has, they are enveloped in debt - much of it sovereign debt. England and others have the same problem. The ECB continues to buy junk bonds because it has no choice but to do so.
These financial and economic matters are very perplexing and social and political issues complicate them. The theory of corporatist fascism, that is so prevalent in America today, has spawned an economic policy of centralism, debt and monopoly driven by the privately owned Federal Reserve, banking and Wall Street. The tune is borrow and go deeper into debt to the bankers until America is bankrupt. This last chapter will be kicked off with more taxes and more fiscal debt. This will be accompanie4d by massive unemployment and eventually a deflationary depression. The unemployment problem is being deliberately allowed to worsen both by the administration and Congress, which won’t address the real reasons our nation is in such a state of failure. What else can you call the loss of 5 million jobs from free trade, globalization, offshoring and outsourcing, which is still going on and the loss of 8.4 million via recession/depression. That is 13.4 million jobs supposedly being filled by a birth/death model and service and retail jobs with little remuneration. Those who control our government, politicians and our economy are about to kick Americans when they are down. Those who control government and their emissaries loathe capitalism and love collectivism. The average American so disgusts our controllers that, if they could they would remove 80% from society.
This has nothing to do with the fabricated left, right paradigm. This is straight forward dictatorship controlled from Wall Street. The president and most of Congress are pliable socialists only intent on enriching themselves. Today we have the centrally planned fascist variety. All finance, production and quality of good will be decided by executive fiat and commercial monopoly. It will be as the Marxists said it will be, each according to their ability and each according to his means. That means centralized management of everything including people. Everything will be done in the public interest, which in fact is by corporate interest. Risk taking will cease to be, and our economy will resemble those of FDR, Juan Peron, Adolph Hitler and Benito Mussolini. Everything that was fascist in the past was an economic and financial failure. The 1930s and 40s were an experiment, a trail run for what we have today. Two stimulus packages and trillions of dollars later few new permanent jobs have been created and all the subsidized money and credit has been transferred via debt from the people to corporate America to bail it out. This is part of the world of in reality. These people count on the public’s ignorance to pull these scams and impose tyranny. You should be doing something about that.
Last week was a telling one for the Dow, which fell 4.5%, S&P fell 5%, the Russell 2000 7.2% and the Nasdaq 100 6.09%. All technical barriers to the downside were broken. Cyclicals fell 8.1%; transports 7.2%; consumers 3.4%; utilities 2.2%; banks 8.6%; broker/dealers 7.8%; high tech 5.2%; semis 5.8%; Internets 6.2% and biotechs 6.8%. Gold bullion fell $44, the HUI 8.1% and the USDX fell 1.1% to 84.41 and the latter appears to be breaking down in its head and shoulders formation.
Two-year T-bills fell 1 bps to 0.59%; the 10-year notes fell 7 bps to 1.76% and the 10-year German bund fell 3 bps to 2.98%.
As housing sales both new and existing fell, Freddie Mac’s 30-year fixed rate mortgage fell 11 bps to 4.58%; the 15’s fell 9 bps to 4.04%; the one-year ARMs rose 3 bps to 3.80% and the 30-year fixed rate jumbo fell 2 bps to 5.50%. The massive inventory overhand continues to put downward pressure on the market and the resumption of falling prices should soon begin.
Fed credit declined $11.9 billion to $2,316 trillion. It is up 8.7% annualized and 16.6% YOY. Fed foreign holdings of Treasuries and Agencies increased $7.8 billion to a new record of $3.098 trillion. Custody holdings for foreign central banks have increased $142 billion YTD and 12% YOY.
M2, narrow, money supply rose $23.6 billion to $8.588 trillion YTD, it is up 1.9% and YOY 1.6%.
Total money market fund assets fell $5.6 billion to $2.812 trillion, YTD funds have fallen $481 billion. YOY it has fallen $851 billion, or 22.3%.
Total commercial paper was unchanged at $1.099 trillion. CP has declined $71.4 billion, or 12.2% annualized YTD, and was down $38 billion YOY, or 3.3%.
The post office wants to increase the price of a stamp by 2 cents to 46 cents starting in January. The agency has been battered by massive losses and declining mail volume and faces a financial crisis.
Postal officials announced a wide-ranging series of proposed price increases Tuesday, averaging about 5 percent, and covering first class, advertising mail, periodicals, packages and other services.
The request now goes to the independent Postal Rate Commission, which has 90 days to respond. If approved, the increase would take effect Jan. 2.
"The Postal Service faces a serious risk of financial insolvency," postal vice president Stephen M. Kearney said.
Kearney said the agency is facing a $7 billion loss in 2011. The rate increase will bring in an extra $2.5 billion, meaning it still faces a $4.7 billion loss.
The rate increase is part of a series of money-saving plans announced in March. These also include reducing mail deliveries to five days a week, closing offices and making other cuts in expenses. Congress must agree to eliminating deliveries on Saturdays.
Concern governments around the world are curtailing stimulus measures too soon spurred Barton Biggs to sell about half of his stock investments this week. Biggs, whose Traxis Partners LLC gained 38 percent in 2009 when he bought equities after the Standard & Poor’s 500 Index fell to a 12-year low, sold most of his U.S. technology holdings, he told Bloomberg Television yesterday.
Signs the U.S. economy is weakening convinced Traxis to reverse course as the S&P 500 posted a weekly slump of 5 percent, bringing its loss since April 23 to 16 percent. Biggs, 77, said yesterday he cut bullish bets by about half since June 29, when they made up 70 percent of his fund.
“I can change my mind very quickly,” Biggs, who manages $1.4 billion, said in a telephone interview following the Bloomberg Television appearance. “I’m not wildly bearish, but I don’t want to have a lot of risk at this point. I just want to have less exposure at a time like this.”
The withdrawal of government stimulus, including the U.S. Senate’s vote against extending unemployment benefits on June 30, may turn a “soft patch” into a recession, he said. The second recession in three years isn’t inevitable should “rational politicians” take action to avert it, he said.
Stocks in the U.S. have fallen nine times in 10 days, including yesterday when data on jobs and factory orders added to concern the economic rebound is slowing. On Bloomberg Television, Biggs said “policy mistakes” could curb the U.S. expansion in gross domestic product that’s forecast by economists to be 3.2 percent in 2010.
President Barack Obama today announced $1.85 billion in loan guarantees to Abengoa SA’s Abengoa Solar unit and Abound Solar Inc. to build sun-powered facilities in the U.S. that he said will create thousands of new jobs.
In his weekly address on the radio and Internet, Obama said the money from the Department of Energy will help the U.S. transition to a “clean energy economy” that creates hundreds of thousands of jobs in the future.
“We’re going to keep competing aggressively to make sure the jobs and industries of the future are taking root right here in America,” Obama said.
The loan guarantees will come from money in the $862 billion economic stimulus program enacted early last year. Obama announced the funding the day after government figures showed private employers adding fewer workers than forecast in June, reinforcing concerns the economic recovery will weaken.
“The recession from which we’re emerging has left us in a hole that’s about 8 million jobs deep,” Obama said. “And as I’ve said from the day I took office, it’s going to take months, even years, to dig our way out.”
Abengoa Solar, a unit of the Seville, Spain-based engineering company, will receive a $1.45 billion loan guarantee to build a solar-power plant in Arizona that will create 1,600 construction jobs and 85 permanent jobs, according to White House documents released in conjunction with Obama’s address.
The power plant will be the first of its kind in the U.S. and generate enough energy to power 70,000 homes, Obama said. [The same program was used in Spain and it was a total failure. The street hustler from Chicago is blowing smoke.]
Federal Reserve Chairman Ben S. Bernanke and then-New York Fed President Timothy Geithner told senators on April 3, 2008, that the tens of billions of dollars in “assets” the government agreed to purchase in the rescue of Bear Stearns Cos. were “investment-grade.” They didn’t share everything the Fed knew about the money.
The so-called assets included collateralized debt obligations and mortgage-backed bonds with names like HG-Coll Ltd. 2007-1A that were so distressed, more than $40 million already had been reduced to less than investment-grade by the time the central bankers testified. The government also became the owner of $16 billion of credit-default swaps, and taxpayers wound up guaranteeing high-yield, high-risk junk bonds.
By using its balance sheet to protect an investment bank against failure, the Fed took on the most credit risk in its 96- year history and increased the chance that Americans would be on the hook for billions of dollars as the central bank began insuring Wall Street firms against collapse. The Fed’s secrecy spurred legislation that will require government audits of the Fed bailouts and force the central bank to reveal recipients of emergency credit. [As you can see it is the duty of Mr. Bernanke as chairman of the Fed to lie about everything to the American public. This is why the Fed does not want to be audited. In the absence of an explanation we have to assume the bonds and swaps were purchased at par and are now probably worth 20 cents on the dollar.]
Once again and with greater force, Europe has snubbed its nose (and rightfully so) the Keynesian clowns in US academia and the Obama administration. Bloomberg reports Trichet Calls on EU Governments to Reduce Budget Deficits to Boost Growth.
European Central Bank President Jean- Claude Trichet pressed governments to trim their budget deficits, saying such action would boost economic growth by improving confidence of consumers and investors. “We are in a period where we have to manage budgets very tightly,” Trichet told journalists in Aix-en-Provence, France. “I have no problem with austerity, rigor. I call this good budgetary management.” Trichet said today that deficit reduction won’t choke growth and a failure to stem budget gaps would be equally risky for the recovery. “Confidence is key for growth, and if you cannot have confidence in the sustainability of the fiscal policies then you have no growth because you have no confidence,” he said. “The two things are complimentary.”
Germany to Reduce Deficit by 80 billion euros ($100 billion) over five years Reuters reports Germany plans to cut new borrowing in savings drive.
Germany plans to cut net new borrowing by some 80 billion euros ($100 billion) over five years, reducing supply of Europe's benchmark debt and adding pressure on other euro zone members to tighten their own public finances. The draft budget for 2011, which the cabinet plans to approve on Wednesday for ratification in parliament in November, will anchor a 34 billion euro reduction in new issuance over the next two years compared to earlier plans. The federal government also aims to cut spending to 307.4 billion euros next year, a 3.8-percent decrease from plans made before a "debt brake" law was passed in 2009, details of the draft made available to Reuters on Sunday showed. The budget is the latest chapter in Germany's drive to consolidate public finances, a move that has drawn criticism from some other large countries that say it is too early to withdraw support enacted during the financial crisis. Unions have promised stiff resistance and industrial action looks likely -- a threat that could rise as cuts in social services deepen and health care costs rise as planned. In addition, some politicians from within Merkel's ruling coalition say the measures are unfairly aimed at the poor, whose benefit cuts make up the largest part of the savings planned through 2014. Besides the spending cuts, the budget's planned reduction in new borrowing to 65.2 billion euros this year and 57.5 billion euros in 2011 will put the onus on other countries that share the euro currency to follow suit.
Tuesday, July 6, 2010
Friday, July 2, 2010
The Alex Jones Show July 2, 2010 Full Show featuring Bill Still, Gerald Celente & Bob Chapman
Alex talks with Bill Still, the man behind the monetary reform documentary The Secret of Oz(available at the Infowars Store). Still's previous films include the popular The Money Masters and Capital Crimes. The Secret of Oz won best documentary of 2010 at the Beloit International Film Festival, the Silver Sierra Award for Excellence in Filmmaking at the Yosemite Film Festival, and other prestigious awards. Alex also talks with trend forecaster, publisher of the Trends Journal, business consultant and author Gerald Celente. Regular Friday guest Bob Chapman, former gold and silver stockbroker and publisher of The International Forecaster, talks about the economy. Alex covers the latest news and takes your calls.
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