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Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichter Like so many debacles in the EU, it started with the unelected European Commission. It’s immune to voters, but not to lobbyists and corporations. Under the guise of “consumer protection” or “food safety” or some other harmless moniker, it generates zany laws that tend to benefit large corporations. But last week, it went too far, even for Europeans – not that they don’t already have enough crises on their [...] Among items transfered to local law enforcement agencies have been assault rifles and grenade launchers, even Blackhawk helicopters and .50 caliber machine guns ; In fiscal year 2011 alone, the Pentagon transferred almost $500 million worth of materials to domestic law enforcement — near double the previous year’s total
http://www.soundmoneycampaign.com The Fiat End Game: Preparing For A Way Forward, is a our latest micro-documentary focused on solutions to our current economic problems. Our current fiat currency standard is terminal, nations around the world are dropping the U.S. dollar as a medium of exchange, central banks are buying gold, and Americans are seeing price inflation during an economic downturn. In order to avoid a systemic financial crisis here in the U.S., [...]
Bill Black is a former bank regulator who played a central role in prosecuting the corruption responsible for the S&L crisis of the late 1980s. He is one of America’s top experts on financial fraud. And he laments that the US has descended into a type of crony capitalism that makes continued fraud a virtual certainty – while increasingly neutering the safeguards intended to prevent and punish such abuse. In this [...] by Phoenix Capital Research
We are now seeing clear signs that the US is moving back towards a recessionary territory.
The first quarter US GDP data showed the US economy growing at an annualized rate of just 2.5% (3.0% was expected).
The only reason growth was even this high was because the Government understated inflation, recording a GDP deflator of 1.2%. This is bizarre given that the “official” inflation data point, the Consumer Price [...] Bank lobbyists are not leaving it to lawmakers to draft legislation that softens financial regulations. Instead, the lobbyists are helping to write it themselves. One bill that sailed through the House Financial Services Committee this month — over the objections of the Treasury Department — was essentially Citigroup’s, according to e-mails reviewed by The New York Times. The bill would exempt broad swathes of trades from new regulation. In a sign of [...] Rep. Steve Pearce questions Treasury Secretary Jack Lew in front of the Financial Services Committee on Wednesday, May 22nd, 2013. ‘Restoring liberty in America is not only possible, but already underway’ Sheriffs and peace officers from across the country will be meeting with likeminded supporters for a national convention focused on one goal: restoring constitutional rule in the United States of America. From May 31-June 1, the Constitutional Sheriffs and Peace Officers Association, or CSPOA, will be meeting in St. Charles, Mo., for its Heartland of America Conference. The purpose of the conference [...] Remember: Japan was using almost 25% of their tax revenue to service their national debt before this spike started. They are in a debt trap and the noose is tightening. Rapidly. http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/05/20130522_JGB2.jpg
Japan Govt Bond Year to maturity 10 Year Simple Yield http://www.bloomberg.com/quote/GJGB10:IND/chart THE ECONOMIC COLLAPSE OF JAPAN IS NOW IN PROGRESS – ALL THE ELEMENTS ARE IN PLACE FOR A DEBT CRISIS http://investmentwatchblog.com/the-economic-collapse-of-japan-is-now-in-progress-all-the-elements-are-in-place-for-a-debt-crisis/ Japan’s bond market is officially losing control.
We have definitely taken out the multi-year trendline [...] by Michael Noonan
We cannot control the markets, but we can control how to respond to what they are saying. The paper market has been turned into a circus, thanks to JP Morgan, and abetted by the exchanges, COMEX and LME. Focus has to remain on the physical market, for it is where one can expect to find true value for price. What everyone has learned is that as price has declined, [...] from The Victory Report: Greece’s infamous new drug, sisa, is basically meth and filler ingredients like battery acid, engine oil, shampoo, and cooking salt. The majority of its users are poor, often homeless, city dwellers reeling from the psychological and physical impacts of a country in the grip of economic collapse. Part II Dirty Laundry, Golden Money – Darryl Robert Schoon Everything you need to know that the media is not telling you… Stefan Molyneux, host of Freedomain Radio – and winner of the 2012 Liberty Inspiration Award – breaks down the unspoken facts about the end of freedom, opportunity and trade in the modern United States. There will be no economic recovery, prepare yourself accordingly.
As the market panic demonstrates, central banks are stuck on a treadmill of money printing Oh what a tangled web central bankers weave when they practice to deceive… Last night’s panic in Tokyo, where the Nikkei dropped a stomach churning 7 per cent, demonstrates just how difficult it’s going to be for the world’s central banks to exit their loose money policies. It’s not even as if Ben Bernanke, chairman of the [...] This is on CNN, no less: Stocks have had a stellar year so far. In fact, the rally has gotten so heated that some investors are making bets on a big crash. Universa Investments, which spends hundreds of millions of dollars a year buying crash protection, has attracted a record amount of money into its fund this quarter. “People are starting to recognize that these market moves are unnatural and distorted,” said Universa [...] by Phoenix Capital Research
Japan’s Nikkei, after rallying over 70% since November, just collapsed 11% in less than two days. Looking at the chart, it’s pretty clear where this thing is heading: the same as the NASDAQ in 2000. This is the problem with economic policy that focuses on pushing stocks higher: eventually the collapsing economy comes home to roost and stocks implode. We saw this in 2000 and 2008. We’re currently [...] Jim Rickerts View. Stock market returns are high because of buy-backs. The shares are retired, the company does not have to pay out dividends and the yield goes up. And more in this Keyser report with guest Jim Rickerts.
Liquidity Trap. A liquidity trap is a situation described in Keynesian economics in which injections of cash into [...] Wow, it took over one day before the Fed came out to do damage control on Bernanke’s Congressional double speak Wednesday that set the markets on a correction. Fed’s Bullard Wants Faster Inflation Before Tapering QE “Before I am in favor of tapering I would like to see some assurance that inflation is going to move back towards target,” he said. U.S inflation fell to a two-year low of 1.1 percent earlier this [...] Abby Martin talks to Dr. John Trumpbour, research director at Harvard Law School’s labor and work life program, about the theory of the clash of civilizations, the idea that a culture or war is inevitable and inherent in the relationship between the East and West; Hollywood’s homogenization of US culture and Harvard’s perpetuation of the ruling class. by Charles Hugh-Smith About the claim that central banks will never let asset bubbles pop ever again–their track record of permanently inflating asset bubbles leaves much to be desired. The problem with trying to solve all our structural problems by injecting “free money” liquidity into financial Elites is that all the money sloshing around seeks a high-yield home, and in doing so it inflates bubbles that inevitably pop with devastating consequences. As noted [...] by GoldCore
Today’s AM fix was USD 1,385.25, EUR 1,068.95 and GBP 917.81 per ounce. Gold climbed $24.80 or 1.78% yesterday to $1,392.00/oz and silver finished up 0.16%. After a volatile and momentous week for global markets, gold and silver look set to finish higher in all currencies and have their best week in a month. Cross Currency Table – (Bloomberg) Holdings in [...] The interviewer’s talking about how Obama’s term will be up in 2016 so its the beginning of the end for him. Maxine Waters says “Well, I don’t know about that… “The president has put together an organization with data the likes of which we’ve never seen before,,,” And goes on to talk about how powerful that information is… Its only 1 1/2 min long but what she says outright and what she [...] Whole Foods Market announced today at Natural Products Expo West that, by 2018, all products in its U.S. and Canadian stores1 must be labeled to indicate whether they contain genetically modified organisms (GMOs)2. Whole Foods Market is the first national grocery chain to set a deadline for full GMO transparency. ALERT!… USDA Forces Whole Foods To Accept Monsanto! In the wake of a 12-year battle to keep Monsanto’s Genetically Engineered (GE) [...] Bass On Japan’s Turbo QE: “It Won’t Be Enough” If JGB investors ‘believe’ as Richard Koo earlier noted, in the BoJ’s new actions and Abenomics (to double the monetary base and generate inflation), then, Kyle Bass explains, a rational investor is likely to sell a portion if not all of them. The BoJ only has JPY10 trillion cushion (after the JPY60 trillion deficit) to soak up this ‘rational investor paradox’ selling and this [...] The best kept secrets of the Dollar. Is the whole US economy a farce? The footage obtained by the Daily Mirror reveals how, after beheading the soldier, they hatched a plot to ambush and murder the first police officers to come to his aid Woolwich attack: Watch shocking video of suspect with bloodied hands wielding knives issue warning The video, obtained by ITV News, shows a bloodied man after the brutal attack in the street mirror.co.uk (1 day ago) Police appeal for calm after Woolwich machete attack Metropolitan Police [...] Deutsche Bank. Big bank. Biggest bank in Germany, and one of the biggest banks in the Euro Zone… they’re going to go belly up. Watch it. Watch it, I said it, it’s going to happen. They are in such a danger zone, they don’t know what to do. Deutsche Bank’s derivative debt is greater than the global economy. That is one bank. $72 trillion in derivative exposure. The entire global economy, [...] BEVERLY (CBS) – This Sunday, the streets of Beverly will look just like they always do. And that’s the problem, some veterans say. The city has cancelled its annual Memorial Day parade for what’s believed to be the first time since the end of the Civil War. Many veterans who were gathered at the Herman A. Spear American Legion Post on Friday night are upset by the decision. “It’s not right to [...] Under current law, employers take out insurance policies to help laid-off workers survive on weekly payments of $62 to $440. Those who are fired for cause, including failing an employer-sponsored drug test, do not qualify. http://www.khou.com/news/texas-news/Drug-tests-for-unemployment-benefits-approved-208955991.html A Florida man who went hunting for pythons in Florida’s Everglades returned instead with a mysterious treasure: an antique, diamond-studded gold medallion that could date back to the 17th century. How the handmade, penny-sized amulet got there is a riddle. One theory is it could have been aboard a ValuJet plane that crashed nearby in May 1996 – or that perhaps it was part of the debris field from an Eastern Airlines [...] Exiting Northeast storm, Midwest t-storms - Showers and even snow at the highest elevations linger across northeast New York and northern/central New England Sunday. - Locally heavy rain possible Sunday for northern New England. - The Mid-Atlantic will be mostly sunny. - Gusty northwest winds will continue, especially from the Delaware and Hudson Valleys to New England. - Temperatures will be 5 to [...] Far from a new beginning, Yasunari Ueno, Mizuho’s chief market economist, says that those who believe in Abenomics are suffering from a bout of amnesia. The FT’s Ben McLannahan reports from Tokyo. For more video content from the Financial Times, visithttp://www.FT.com/video JERICHO — More rain, and even some snow, was in the forecast for Vermont Saturday morning. A flood watch issued by the National Weather Service remained in effect for most of the state through Sunday afternoon.
“Widespread moderate to locally heavy rainfall will continue through tonight,” the agency stated Saturday morning. “Storm total rainfall amounts of 1 to 3 inches can be expected. These amounts will likely push small streams back to bankfull [...] Last news,confirmed: SPAIN STUDY CONFIRMS HEMP OIL CURES CANCER WITHOUT SIDE EFFECTS The International Medical Veritas Association (IMVA) is putting hemp oil on its cancer protocol. It is a prioritized protocol list whose top five items are magnesium chloride, iodine, selenium, Alpha Lipoic Acid and sodium bicarbonate. It makes perfect sense to drop hemp oil right into the middle of this nutritional crossfire of anti cancer medicines, which are all available without [...] “Two freight trains collided and derailed early Saturday in southeast Missouri, then triggered the collapse of a highway overpass when several rail cars struck a support pillar.” Read more: http://usnews.nbcnews.com/_news/2013/05/25/18490608-seven-injured-in-missouri-as-trains-collide-trigger-highway-bridge-collapse?lite According to Jeffrey Berman, University of Washington civil engineering professor, 40 percent of our nation’s bridges are what they call “fracture critical”. This means that any damage to ONE support structure of the bridge will bring it down. “Once one element is damaged or [...] I live twenty minutes from Bristol.. Stapleton Road has riots going on, buildings are being set on fire and windows are being smashed in protest to what happened to the soldier this week. So far it’s only all over social medias but as links come in I will put them up. Riot police out in force after trouble on the streets of St George • A crowd of up to 100 people [...] NBCNews: 1 dead, 1 missing and nearly 100 more have been rescued as heavy rain pummeled San Antonio, causing flash flooding http://usnews.nbcnews.com/_news/2013/05/25/18493585-heavy-rain-turns-deadly-in-san-antonio?lite Bove says about 130 people have been rescued from their homes and cars in the San Antonio area. He says water is up to 4 feet high in some homes. The San Antonio International Airport by Saturday afternoon had recorded nearly 10 inches of rain since midnight. It’s caused nearly all [...] Two freight trains collided at a rail intersection in Missouri on Saturday, triggering the collapse of a highway overpass when several rail cars derailed and struck a support pillar, a county sheriff’s dispatcher said. Seven people were hurt, including five in cars on the two-lane overpass near southeastern Missouri town of Chaffee and the conductors of the two trains, Scott County Sheriff’s dispatcher Clay Slipis said. “One train T-boned the other one [...] @Soc_Net_Intel50m Breaking : A french military in vigipirate plan patrol in the defense area near #Paris attacked by knife by an unknown – #terrorism #France Report: French soldier patrolling western Paris stabbed in the neck by a man who quickly fled the scene, police source says - @Reuters https://twitter.com/Reuters http://www.breakingnews.com/ A soldier stabbed in the throat in the district of La Défense The abuser is trailing him. Police described him as a man of North African type, [...] MIAMI BEACH, Fla. - A luxury boutique hotel in South Beach is helping Miami Beach police officers, who are working longer shifts this weekend because of Urban Beach Weekend. read more http://www.local10.com/news/sls-hotel-south-beach-offers-free-rooms-to-officers-during-urban-beach-weekend….html *snip* The good news from this week’s rail traffic report is that we’re not sliding into consistently negative readings that might lead us to a far less constructive position on the economy. The bad news is that the 12 week moving average has slid down to 2.4% and is consistent with an economy that remains sluggish. Here are the details on this week’s data from AAR: “The Association of American Railroads (AAR) reported an [...] Informations came from russian FSB same who told US about Boston bombings before. CL finals with two german teams in about 8 hours. Many public viewing events all over Germany. Increased security measures, especially in Berlin, Dortmund and Munich are pure precautions, says police sources. http://www.tagesschau.de/inland/terrorwarnung160.html http://translate.google.com/translate?depth=1&nv=1&rurl=translate.google.de&sl…. A football feast to celebrate evening many visitors to Germany fan miles today. The joy is now clouded in advance. The BKA clearly warns of Islamist [...] New Computer Attacks Traced to Iran, Officials Say “SAN FRANCISCO — American officials and corporate security experts examining a new wave of potentially destructive computer attacks striking American corporations, especially energy firms, say they have tracked the attacks back to Iran. The targets have included several American oil, gas and electricity companies, which government officials have refused to identify. The goal is not [...] Target’s own-brand sunscreen costing under $7, has been ranked number one in a study investigating the most effective sun protection products on the market. Researchers from the ratings site Consumer Reports tested 12 popular SPF lotions on their ability to block harmful ultraviolet radiation, considered the main cause of skin cancer. Target’s spray-on Up & Up Sport SPF 50 priced at $6.94, scored 80 out of 100 beating pricier, better-known brands such as Hawaiian Tropic, Neutrogena and Coppertone. … SIX MOST EFFECTIVE SUNSCREENS Target: Up & Up [...] Bad news, diet coke junkies: gulping down excessive amounts of soda is no longer just bad for your teeth, now it’s as bad for your teeth as crystal meth or crack. That’s according to one study, anyway, which found that excessive consumption of soda – even diet soda – can rot your choppers as badly as ingesting two of the most dangerous narcotics on earth. The good news is it likely takes [...] By Mike “Mish” Shedlock Via google translate from Corriere Della Sera, Beppe Grillo is in favor of a “Referendum on the Euro Within a year” “Europe needs to be rethought. We consider just one year of information and then hold a referendum to say yes or no to the euro and yes or no to Europe. ” Beppe Grillo to ride a strong theme of the last election campaign the 5 Star Movement. “Europe [...] from WCJournalism: |
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Abercrombie and Fitch’s stock price plummets after CEO said their clothes were only for ‘attractive’ people
Abercrombie and Fitch’s first-quarter sales fell by 17 percent
Abercrombie and Fitch CEO Mike jeffries; ‘Candidly, we go after the cool kids. We go after the attractive all-American kid with a great attitude and a lot of friends. A lot of people don’t belong [in our clothes], and they can’t belong. Are we exclusionary? Absolutely.’
A Change.org petition calling for the retailer to ‘stop telling teens they aren’t beautiful; make clothes for [...]