Bill Black: Weakness of financial regulators shows you can not “tame the scorpion”.
5 commercial mega-banks continue to trade roughly $300 trillion in unregulated derivatives. In other words unregulated derivatives are 32 times total U.S. deposits and 11,900 times the FDIC’s paltry $25 billion insurance fund.
Senate investigators: APPLE avoided $44 billion in taxes
Senate investigators accuse Apple of wiring together a complicated system to shield billions of dollars in international profits from both U.S. and foreign tax collectors.
A report released ahead of Apple CEO Tim Cook’s inaugural Capitol Hill appearance Tuesday alleges the tech giant took advantage of numerous U.S. tax loopholes and avoided U.S. taxes on $44 billion in offshore, taxable income between 2009 and [...]
Photos, Social Media Capture Terror of Okla. Tornadoes
Violent Tornadoes in Oklahoma
Severe thunderstorms developed in the Nation’s Heartland on Monday, producing violent tornadoes that ripped through the Oklahoma City and Tulsa metropolitan areas.
State Medical Examiner: 37 People Dead, Death Toll Expected To Rise
MOORE, Okla. (CBS Houston/AP) — A monstrous tornado at least a half-mile wide roared through the Oklahoma City suburbs Monday, flattening entire neighborhoods with winds up to 200 mph, setting buildings on [...]
http://usawatchdog.com/bank-run-happe… Jim Willie of GoldenJackass.com says, “Before, they were talking about stress tests. Now, they realize that all of them in the past were a fraud. So, they are talking about ‘bail-ins’ because they are expecting failures.” Dr. Willie contends, “It’s all coming to a climax where gold is going to be central with a gold-trade central bank and gold priced at $7,000 per ounce.” Join Greg Hunter as he goes [...]
I check this site time to time due to my travel on business. The air quality is always unhealthy.
Shanghai – PM2.5
Past 24-hour AQI was Unhealthy
Most Recent AQI
May 21, 2013 06 AM
if at this level for 24 Hours
Concentration: 110.0 µg/m³
Goldman Is Selling The Last Of Its Stake In A Chinese Bank, And Communist Officials Are Probably Pretty Annoyed
Goldman Sachs bought a stake in the Industrial and Commercial Bank of China before it was cool — before it had the 2nd largest IPO in the history of the world in 2006, and before it was the largest bank in the world by market cap.
Initially, Goldman owned 4.9% of the bank, whose stock is [...]
May 20th, 2013
They write the rules. One set for them. One set for us.
50 million of our fellow countrymen starve and depend on paltry government distributions to put food on the table every month. Millions have lost their homes and their jobs. And future generations are saddled with trillions of dollars in debt that can never be repaid.
All the while, those who are supposed to serve the people have [...]
May 20th, 2013
Conservative think tank and media outlet WND conducted an independent polloverseen by research firm Wenzel Strategies asking Americans if they think President Obama should be impeached for the various scandals currently in the news – the specific targeting by the IRS of conservative groups and Obama enemies, the illegal wiretapping for personal gain of AP news journalists, and the cover-up of the events leading up to the death of four [...]
Boston News, Weather, Sports | FOX 25 | MyFoxBoston
by Charles Hugh-Smith
The Devil is in the details.
The Devil, of course, always claims to be “doing God’s work.” Satan’s job, as it were, is to deceive, and if claiming to be “doing God’s work” deceives the credulous, then by golly, Satan will do so with the utmost sincerity.
If mixing in a bit of truth to a slurry of lies deceives the credulous, then Satan will happily mix up a batch of [...]
by Phoenix Capital Research
Japan has fueled much of this latest rally in stocks, driving the marketing first with promises of money printing by the Prime Minister in November 2012, and then a massive $1.2 trillion QE program announced by the Bank of Japan last month.
The result of this has been a collapse in the Yen and a 70%+ rally in the Nikkei in the last six months.
This has been the fundamental [...]
“Barack Obama’s “American” values, The Associated Press reports that the Obama Administration seized phone records… & “war time sex slaves were necessary” says Japanese mayor! NO OUTRAGE?!”
“We don’t have to worry about a recession — we are in a depression,” says Jim Rickards.
“We don’t have to worry about a recession — we are in a depression,” says James Rickards.
“If you take the classic definition of a sustained, long-term downturn with economic growth below trend, then we are in the midst of a depression,” says the senior managing director of Tangent Capital and author of “Currency Wars.”
“The Refusal of King George III to Allow The Colonies To Operate An Honest Money System, Which Freed The Ordinary Man From The Clutches of The Money Manipulators Was Probably The Prime Cause Of the Revolution.”
-Benjamin Franklin, U.S. Founding Father
There is no better topic than gold to polarise an investment discussion. So the recent sharp drop in the metal’s price has pushed to fever pitch the debate between two camps with deeply held convictions: those who view gold as overvalued and lacking both income and capital appreciation attributes; and those who feel it is only a matter of time before others appreciate again gold’s unique role as an [...]
A rare peek into a Justice Department leak probe
When the Justice Department began investigating possible leaks of classified information about North Korea in 2009, investigators did more than obtain telephone records of a working journalist suspected of receiving the secret material.
They used security badge access records to track the reporter’s comings and goings from the State Department, according to a newly obtained court affidavit. They traced the timing of his [...]
Today’s AM fix was USD 1,353.75, EUR 1,051.95 and GBP 890.86 per ounce.
Friday’s AM fix was USD 1,376.75, EUR 1,069.15 and GBP 903.62 per ounce.
Gold fell $22.20 on Friday to $1,364.90/oz and silver closed at $23.632.
Silver fell victim to heavy, concentrated selling overnight in thin, illiquid Asian trading. Silver was slammed by 10% and fell from $22.36/oz to $20.30/oz in just four minutes – from 23:05 GMT to [...]
Star bond investor Jeffrey Gundlach says central banks around the world are distorting markets with enormous and ever-increasing quantitative easing programs, which he doesn’t see ending anytime soon.
A story in the Washington Post yesterday about the Internal Revenue Service’s Cincinnati office, which does most of the agency’s nonprofit auditing, clearly contradicted earlier reports that the agency’s targeting of Tea Party groups was the result of rogue agents.
The Post story anonymously quoted a staffer in Cincinnati as saying they only operate on directives from headquarters:
As could be expected, the folks in the determinations unit on Main Street have had trouble [...]
May 19th, 2013
In a controversial move that some believe will essentially lead to a de facto ban on semi-automatic handguns, Attorney General Kamala Harris announced that, effective immediately, all new semi-automatic firearms sold in the State of California will require a unique microstamp on every shell ejected when a gun is fired.
Microstamping, or ballistic imprinting, is a technology patented in the 1990?s by engineer and NRA member Todd Lizotte. When a gun [...]
US suspends Constitution in permanent world war on terror
Two disturbing developments have occurred in the last couple of days that have gone relatively unnoticed compared to the recent IRS, AP, and Benghazi scandals.
First, the senate is debating an expansion of the already broad powers of the 2001 Authorization to Use Military Force (AUMF) so the U.S. can essentially engage any area in the world in the war on terror, including [...]
Let’s go straight to the conclusion: too many mysteries are occurring in the gold market, in 2013, to accept them as regular facts. No matter at which “side” you are of what we consider the most controversial asset, you simply cannot deny that the following list of events is something stronger than suspicious. Most importantly, although the mainstream media were very fast to announce the potential sale of 10 tonnes [...]
China Has Been Inflating Its Exports Numbers All Year, In Some Cases Doubling The Actual Figures
China has over-reported its exports for the last five months, inflating the apparent demand for its products overseas, according to a new research report.
Official customs data showed a surge in exports, but imports reported by trading partners don’t match up. Capital Economics, a research firm, estimated the actual exports expanded only half the 17 percent [...]
Spike in seismic activity in the past hour around the globe
especially Russia which has been shaking like crazy for days
last 10 quakes in Taiwan
Magnitude 7.2 KURIL ISLANDS April 19, 2013
Magnitude 6.6 NEAR NORTH COAST OF NEW GUINEA, P.N.G. April 16, 2013
Magnitude 7.8 IRAN-PAKISTAN BORDER REGION April 16, 2013
Magnitude 6.6 BOUGAINVILLE REGION, PAPUA NEW GUINEA April 14, 2013
Magnitude 7.0 PAPUA, INDONESIA April 06, 2013
Magnitude 6.5 NEW BRITAIN REGION, PAPUA NEW GUINEA March 10, [...]
from Armstrong Economics:
Politicians in the USA like to point their collective finger at China for corruption problems while they sanction a legalized system of corruption that ensured the NY bankers will NEVER be prosecuted. Furthermore, in the USA, politicians receive untold millions legally funneled to them by political action committees. The PACs assure that Congress votes the way that those who provide the money want it to. Why is Goldman Sachs above the [...]
Two entire schools flattened in Moore, Oklahoma after monster tornado touched down just after 3pm local time
Up to two dozen children are trapped under debris at one of the schools, Plaza Towers Elementary
At least 51 people confirmed dead, authorities say, and at least another 145 injured in local hospitals
Children told to hold on to the walls, while teachers shielding the students with their bodies
Hundreds of homes wiped out and more than [...]
Washington Times columnist Joseph Curl on Monday said the Obama administration’s developing scandal involving the monitoring of Fox News reporter James Rosen’s email accounts goes “much deeper.”
Citing a “CIA source,” Curl claimed via his official Twitter account that the Fox News scandal was the “4th Shoe” and the White House is sitting on “something” that has top White House aides “terrified.”
Check out this video from Bloomberg.com:
(NaturalNews) Just a few short years ago, Plantation, Fla.-based bankruptcy attorney David Langley did not have even one doctor as a client. But in the years that have followed, Langley has processed at least six bankruptcy cases involving physicians, and is currently working on two bankruptcy cases involving an orthopedic surgeon and an OB/GYN, according to CNNMoney.
Why this sudden increase in primarily private practice debacles? A changing healthcare environment prompted by [...]
America Your Freedom At Risk!
IRS Scandal Tea Party Patriots To Nationwide Protest – Michelle Malkin – Megyn Kelly
NASHVILLE, Tenn. (CBS Charlotte/AP) — First lady Michelle Obama has some advice for some Tennessee high school graduates: Strike your own path in college and life and work to overcome inevitable failures with determination and grit.
Mrs. Obama spoke for 22 minutes to the graduates of Martin Luther King Jr. Academic Magnet High School on Saturday in her only high school commencement address this year. The ceremony took place in the gymnasium [...]
A Fox News correspondent was accused in a Justice Department affidavit of being a possible criminal “co-conspirator” for his alleged role in publishing sensitive security information — in a leak case that takes the highly unusual step of claiming a journalist broke the law.
According to court documents, the Justice Department obtained a portfolio of information about Fox News’ James Rosen’s conversations and visits to the State Department. This included a [...]
Moscow, May 20 (Interfax-AVN) – The Nikolai Filchenkov and the Azov large landing ships of the Russian Black Sea Fleet have begun a Mediterranean mission in the planned rotation of the inter-fleet group, fleet spokesman and Captain 1st Rank Vyacheslav Trukhachev told Interfax-AVN on Monday.
Alligator-class landing ship
Russian Pacific Fleet Warships Enter Mediterranean For First Time In Decades, To Park In Cyprus
Earlier we reported that the US has now officially landed a Marine [...]
Chinese hackers who breached Google’s servers several years ago gained access to a sensitive database with years’ worth of information about U.S. surveillance targets, according to current and former government officials.
The breach appears to have been aimed at unearthing the identities of Chinese intelligence operatives in the United States who may have been under surveillance by American law enforcement agencies.
It’s unclear how much the hackers were able to discover. But [...]
From Junk Science:
With the IRS scandal shining a much-needed light on the miserable agency that would be the majordomo of Obamacare, we should also examine the preposterous “reasoning” at the heart of the Patient Protection and Affordable Care Act (PPACA)…
I refer to the quite foolish notion that making insurance more available, albeit not necessarily more affordable, is somehow the biggest problem facing our failing health care system.
Let’s try an analogy: [...]
The true scale of the tornado that swept through much of Oklahoma was captured by a number of home-made videos that show the precursor for the devastation on Monday.
At least five people are believed to be dead, two elementary schools have been flattened and scores of students could be trapped under the rubble after a two mile-wide tornado touched down in a highly-populated suburb of Oklahoma City in one of [...]
MOORE, Oklahoma -
A massive tornado ripped across Moore Monday afternoon, wiping out neighborhoods, destroying a school, killing at least three people and leaving an untold number of people injured.
The powerful tornado first touched down in Newcastle and churned toward Interstate 44 and S.W. 149th Street. It ripped down Santa Fe and hit Briarwood Elementary School, destroying the building. Parents ran to the school, trying to make sure their children were [...]
Wall Street Journal
May 20, 2013
Rioting youth torched cars and fought police in a Stockholm suburb into the early hours of Monday, injuring four police officers and causing substantial damage to property.
The rioting was caused by anger over the fatal police shooting of an elderly man in the Husby area a week ago, according to Megafonen, a local youth organization.
Police said between 60 and 100 persons, most of them young [...]
Apple’s Tim Cook will make his debut testifying before Congress on Tuesday, when the chief executive will press lawmakers to simplify corporate taxes as well as defend the company’s tax practices.
Cook will appear before the Senate Homeland Security subcommittee on investigations, which is looking into what it calls “the structures and methods employed by multinational corporations to shift profits offshore” and how that affects taxes paid. Read hearing announcement and witness [...]
A California teenager has invented a device that fully charges a cell phone in 20 seconds flat, and leading technology firms, including Google, are turning interested eyes her way.