by WashingtonsBlog
Fed Pours Huge Sums Into Foreign Bank Coffers
We noted even before the TARP bailout law was signed into law that bailout moneys could flow to foreign banks.
We were right. A large percentage of the bailouts went to foreign banks (and see this). And so did ahuge portion of the money from quantitative easing. More here and here.
Ron Paul noted in 2011 that essentially 100% of New York Federal Reserve Bank loans went to foreign banks.
A former high-level Federal Reserve official said that the [...]
by Phoenix Capital Research
Just what is the Fed so scared of?
Today, the Fed’s favorite reporter, Jon Hilsenrath at the Wall Street Journal published an article completely refuting his own work from just two weeks ago.
If you’ll recall, two weeks ago, Hilsenrath wrote that the Fed was planning to taper its QE purchases before the end of the year.
Today, Hilsenrath wrote that when the Fed does taper its buying it won’t be “predictable.” [...]
Jim Rickards, Senior Managing Director at Tangent Capital, says the Bank of Japan’s monetary easing policy is so aggressive they are forcing other central banks to cut rates.
Jim Rogers: Yen’s ‘Collapse Very Dangerous’
The dollar hit a four-year high of 103.31 yen Friday, and legendary investor Jim Rogers, chairman of Rogers Holdings, doesn’t think that’s a good thing.
“The [yen], which is one of the major currencies of the world, has collapsed [...]
By Paul B. Farrell, MarketWatch
The “Dr. Boom” scenario: America is about to “unleash a spending spree. Years of self-denial give way to pent-up demand,” predicts UBS economist Maury Harris in USA Today’s bold lead story.
His clue? Consumer sentiment: “Harris estimates that in the next five years, catch-up consumption will boost annual consumer spending growth by a half point to above 3% from about 2%.”
Reassuring? No, wishful thinking. Be [...]
Just got this very reliable financial intel.
Get ready to short Japanese equities and expect another real-estate bubble burst.
Christine Hughes, President and Chief Investment Strategist, discusses details of Japan’s radical monetary policy.
the key part of the video, for ease of viewing:
The USDJPY has is trying to break the 103 barrier again after the BoJ meeting and Cabinet Secretary Suga commented the “BoJ should continue to steadily strive to reach inflation targets [...]
RIDE THE STOCK MARKET GRAVY TRAIN ALL THE WAY TO THE BANK.
New York Fed President William Dudley said Tuesday that it will take three to four months to know if the Federal Reserve will be in the position to decide on tapering its asset purchases adding that it is “too soon” to make that determination and depends on how the economic outlook evolves.
https://www.mr-topstep.com/index.php/layout/market-updates/2942-fed-s-dudley-will-take-3-to-4-months-to-decide-on-tapering
S&P 500 Projections – Goldman Sachs goes uber [...]
by GoldCore
Today’s AM fix was USD 1,385.25, EUR 1,071.43 and GBP 917.75 per ounce.
Yesterday’s AM fix was USD 1,378.75, EUR 1,070.21 and GBP 908.39 per ounce.
Gold fell $6.50 or 0.47% yesterday to $1,377.80/oz and silver finished down 0.56%.
The fundamentals of the platinum and palladium markets are beginning to receive market attention and not before time. The positive supply demand dynamics are leading to increased investment demand as seen in the [...]
Well worth listening to.
Top 5 Places NOT To Be In A Dollar Collapse
All currencies have arbitrary fiat value.
Gold is just a commodity it’s no better than paper currency when it’s being used.
That’s one of many reasons we should abandon the proxy barter system and start switching over to a resource based economic scientifically designed to meet human needs and maximize creative freedoms. All money does is create a system of [...]
By Michael
What is going to happen when the greatest economic bubble in the history of the world pops? Themainstream media never talks about that. They are much too busy covering the latest dogfights in Washington and what Justin Bieber has been up to. And most Americans seem to think that if the Dow keeps setting new all-time highs that everything must be okay. Sadly, that is not the case at all. [...]
by Michael
Weather patterns are becoming increasingly erratic and the ground under our feet is becoming extremely unstable. So precisely what in the world is going on here? Is this the beginning of a trend? Could it be possible that we are entering the worst period for natural disasters in U.S. history? The tornado that just hit the town of Moore, Oklahoma is already being called one of the most destructive tornadoes [...]
WASHINGTON – A top IRS official in the division that reviews nonprofit groups will invoke the Fifth Amendment and refuse to answer questions before a House committee investigating the agency’s improper screening of conservative nonprofit groups.
Lois Lerner, the head of the exempt organizations division of the IRS, won’t answer questions about what she knew about the improper screening – or why she didn’t reveal it to Congress, according to a letter from her [...]
The Internal Revenue Service (IRS) demanded information about conservative groups’ college-aged interns, prompting outrage from one of the country’s top conservative activist organizations and leading one former intern to wonder whether his family’s pizza parlor would be endangered.
The IRS requested, in an audit, the names of the conservative Leadership Institute’s 2008 interns, as well as specific information about their internship work and where the interns were employed in 2012, according [...]
Mac Slavo
May 21st, 2013
SHTFplan.com
It’s not a stretch to suggest that Americans are over medicated. In 2011 doctors across the nation wrote an astounding four billion medical prescriptions, amounting to an average of 13 prescriptions for every man, woman and child in the United States.
In the next few weeks the American Psychiatric Associations is releasing their updated fifth version their Diagnostic and Statistical Manual of Mental Disorders (DSM-5); the so-called ‘bible’ of [...]
Porter Stansberry: There is now a 100% chance of a market collapse
…Historically, looking at the two commodities, the average multiple of gas to oil was about 10x. That is, a barrel of oil was, on average, 10 times more expensive than one thousand cubic feet of gas. By last April, that premium had reached an all-time high of 55 times.
There was no way that kind of price relationship could have [...]
by Phoenix Capital Research
Two big events have occurred/ are occurring.
Charles Evans who is one of the biggest pushers for QE, stated that the Fed has “the appropriate monetary policy in place” and that the economy is “improving quite a lot.”
The Bank of Japan is beginning a two-day policy meeting today.
Regarding #1, Evans has been one of the biggest pushers for more QE. Throughout 2011 and 2012, every time he appeared on [...]
London Gold Market Report
from Adrian Ash, BullionVault
Tues 21 May, 09:10 EST
“Short Squeeze” Fades in Precious Metals, Gold Miner Adds to Hedges, Contrarians Spot “Time to Buy”
The PRICE of both silver and gold slipped back in London on Tuesday morning, cutting into yesterday’s rapid gains from 4-year and 1-month lows respectively.
World stock markets stalled after hitting a series of near and new all-time highs so far this month.
The British Pound fell hard – [...]
Video from a shelter as the tornado passes directly overhead
Terrifying
Anonymous
The EU reportedly has agreed with “overwhelming majority” that from 2016, savers must bleed event of bank failure. Deposits over 100000 euros are then gone. EU Law Committee: Cyprus was a model.
The Legal Affairs of the European Parliament has reportedly expressed yesterday evening with “overwhelming majority” for expropriating savings of about 100000 euros, if a bank goes bankrupt. An appropriate legislative proposal agreed to the Legal Affairs of the European Parliament. Balances below 100000 [...]
http://www.spc.noaa.gov/products/outlook/day1probotlk_1200_torn.gif
DAY 1 CONVECTIVE OUTLOOK
NWS STORM PREDICTION CENTER NORMAN OK
1259 AM CDT TUE MAY 21 2013
VALID 211200Z – 221200Z
…THERE IS A MDT RISK OF SVR TSTMS ACROSS PARTS OF SW AR…SE
OK…NW LA…CNTRL TX AND NE TX…
…THERE IS A SLGT RISK OF SVR TSTMS ACROSS PARTS OF THE SRN
PLAINS…OZARKS…MID MS VALLEY…OH VALLEY AND GREAT LAKES…
…SRN PLAINS/ARKLATEX/MID-MS VALLEY…
AN UPPER-LEVEL TROUGH WILL MOVE EWD FROM THE SRN ROCKIES INTO THE
SRN PLAINS TODAY. AT THE [...]
by GoldCore
Today’s AM fix was USD 1,378.75, EUR 1,070.21 and GBP 908.39 per ounce.
Yesterday’s AM fix was USD 1,353.75, EUR 1,051.95 and GBP 890.86 per ounce.
Gold climbed $19.40 or 1.43% yesterday to $1,384.30/oz and silver finished 2% higher.
Silver’s recovery yesterday from being 10% lower at one stage to recouping these losses and then rising over 2% was very positive technically. The key reversal is leading some to postulate that we [...]
The US Economic Data Performance Is The Equal Worst (With Japan) Of All Major Economic Nations And Regions
We continue to hear that the US is the cleanest dirty shirt or that the US economy is doing ‘relatively’ well as a reason for buying stocks now. Not only is this plainly incorrect (as we have pointed out rather vociferously in the recent past) it flies the face of the disconnect between macro [...]
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 [...]
Mac Slavo
May 20th, 2013
SHTFplan.com
The Posse Comitatus Act of 1878 was originally established to protect American citizens from the federal use of military troops to enforce and execute the laws of the land unless expressly authorized by the Constitution or Congress. Since then, for over a century, this task has fallen upon local and federal law enforcement. But with the War on Terror taking center stage in the United States for [...]
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 [...]
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 [...]
by Michael
Have you ever wondered who controls the mainstream media? In America today, we are more “connected” than ever. The average American watches 153 hours of television a month, and we also spend countless hours watching movies, playing video games, listening to music, reading books and surfing the Internet. If someone could control the production of all of that media, that would make them immensely powerful. They would literally be in [...]
Nigel Farage, the leader of the UK Independence Party, has said he would not expel members for voicing “old-fashioned” views about homosexuality, including those who describe it as “disgusting”. He was responding to reports of a Ukip online forum in which one of the party’s candidates allegedly used the word to describe gay sex and said that homosexuals were not “normal”.
Mr Farage told BBC Radio 2′s Jeremy Vine Show: “That [...]
Obama and his closest aides have been exposed. Not just as a cabal of lying, preening, and corrupt politicos, but an administration so wedded to authoritarian progressive doctrine they will hammer at the load-bearing walls of liberty in pursuit of their statist agenda.
This is because the Obama administration’s vision of America is inherently in conflict with the Bill of Rights. Recent scandals are merely the latest skirmish in this ongoing [...]
WASHINGTON (MarketWatch) – While there was no consensus among Federal Reserve officials on when the central bank could begin to slow down asset purchases, a “number” of central bank officials were willing to taper as soon as their next meeting in June, according to the minutes of their April 30-May 1 meeting released Wednesday. On the other hand, a “couple” of Fed officials said the Fed might have to ease [...]
Tempers flared in a House Oversight and Government Reform Committee hearing Wednesday, with members on both sides of the aisle castigating the Internal Revenue Service for targeting conservative groups with special scrutiny, and then hiding the practice from Congress.
Rep. Darrel Issa, the committee’s chairman, said that the committee learned just yesterday that the IRS completed its own investigation a year before a Treasury Department Inspector General report was completed.
But despite [...]
One of the mainstream media journalists whose pursuit of the truth has been truly tenacious and nonpartisan is CBS News’ Sharyl Attkisson. Her tough reporting has made life difficult for everyone from Hillary Clinton to the Bush administration and Congressional Republicans. She’s also been relentless on the Obama administration’s Fast & Furious gun-running scandal — and, of course, Benghazi. As we mentioned this week, Attkisson’s tough investigative journalism is starting to bother unnamed CBS News [...]
Major Earthquake watch! Solar Flare Watch! Geomagnetic storm Warning! Meteor Watch! WW3 Watch! False Flag Watch For US! Martial Law Watch For US! Stay Safe and May God Bless!!
https://www.facebook.com/OutrDemnDarknes
https://twitter.com/OutrDemnDarknes
https://plus.google.com/u/0/113872316…
http://www.i-m.co/OuterDemonDarkness/…
http://www.youtube.com/watch?v=3WPc0w…
17-May-2013 Clif High Wujo, Global Coastal Event, Quavers, Earthquakes,
http://www.amsmeteors.org/2013/05/fou…
4 Meteors in less then 24 hours not including the meteorite that has hit Mexico last night!!
http://www.youtube.com/watch?v=5GBVc3…
Loud Boom Was A Fireball?? Solar Instability? GCE Imminent?
http://ssd.jpl.nasa.gov/sbdb.cgi?sstr…
Asteroid 2013 KB NEW!!!!
http://ssd.jpl.nasa.gov/sbdb.cgi?sstr…
2013 JM22
http://ssd.jpl.nasa.gov/sbdb.cgi?sstr…
1998QE2
http://volcanodiscovery.com/
Active Volcanoes
http://sohowww.nascom.nasa.gov/data/r…
SoHO Shot’s current
http://www.webcamlocator.com/airport_…
Airport Webcams Denver!
http://www.flightradar24.com/
Watch [...]
Air Force Commander Major General Amir Eshel said that S-300 advanced missile defense system will soon make it to the hands of the Syrian army. “Assad, with his low budget has invested billions into purchasing antiaircraft missiles.”
http://www.ynetnews.com/articles/0,7340,L-4383027,00.html
Lebanese media reported that Israeli warplanes are practicing simulated attack operations in southern Lebanon
http://www.ynetnews.com/articles/0,7340,L-4382900,00.html
Syrian opposition urges rebels to join key battle
http://www.ynetnews.com/articles/0,7340,L-4383047,00.html
Kerry: Thousands of Hezbollah fighters in Syria
http://www.ynetnews.com/articles/0,7340,L-4383068,00.html
German intelligence agency says Assad’s forces more organized [...]
Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichter
The issue of inflation is complex everywhere. Official rates are disputed. People can’t reconcile them with what they see at the store. There are different formulas and data sets, resulting in different rates, and everyone picks and chooses what suits their needs. But nowhere is the issue as “complex,” infested with lies, and shrouded in obscurity as in Argentina.
The debacle took on hilarious overtones when a Greek reporter, in [...]
(CNSNews.com) – What did the White House know about the IRS targeting conservative groups and when did it know it?
Crucial evidence needed to develop an accurate answer to that question would include the records of any communications that went back and forth between the IRS and the White House on the topic.
In a May 14 letter signed by Chairman Dave Camp and Ranking Member Sander Levin, the House Ways and Means Committee [...]
Dana El Baltaji
Bloomberg
May 22, 2013
Communities inhabited by Shiite Muslims and President Bashar al-Assad’s Alawite minority will be “wiped off the map” if the strategic city of Al-Qusair in central Syria falls to government troops, rebel forces said.
“We don’t want this to happen, but it will be a reality imposed on everyone,” Colonel Abdel-Hamid Zakaria, a spokesman for the Free Syrian Army in Turkey, told Al-Arabiya television yesterday. “It’s going to [...]
The Senate Judiciary Committee’s passage of a sweeping immigration bill was expected. But the explosion of chants of “Yes we can! Yes we can!” and “Leahy! Leahy!” came as a surprise.
The “Gang of Eight” bill passed by a wide 13-5 margin early Tuesday evening. Amid the cheering, Democratic committee chairman Sen. Patrick Leahy of Vermont could be seen motioning spectators to come up and participate in the celebration.
Read more: http://dailycaller.com/2013/05/21/yes-we-can-chant-breaks-out-as-senate-panel-passes-immigration-bill/#ixzz2U2K0j7e2
[snip]
A new study offers fresh insights into how radioactive contamination from the Fukushima nuclear disaster may have spread through Japan’s interconnected waterways, reaching some freshwater fish hundreds of kilometers away.
How Fukushima Contamination May Have Spread via Waterways
At Tepco, A Woman Takes the Levers of Power
Fukushima Watch: Dead Rodents Cause Another Cooling System Halt at Stricken Plant
Megaquake Hitting Central Japan Could Kill 323,000
Photos: Two Years Later, Slow Progress on Cleanup
The research [...]
Goldman Sachs: Germany must stay in the Euro €
“Germany to remain in the euro according to the wish of Goldman Sachs.”
http://translate.google.de/translate?hl=de&sl=de&tl=en&u=http://deutsche-wirtschafts-nachrichten.de/2013/05/20/goldman-sachs-deutschland-muss-im-euro-bleiben/
Goldman Sachs: UK must stay in the EU
“A withdrawal of Great Britain from the EU would move to the country a substantial economic damage, warns Goldman Sachs.”
http://translate.google.de/translate?hl=de&sl=de&tl=en&u=http://deutsche-wirtschafts-nachrichten.de/2013/05/22/goldman-sachs-grossbritannien-muss-in-der-eu-bleiben/
Goldman Sachs chief warns of separating banking system in Europe!
“The head of the U.S. bank Goldman Sachs, Lloyd Blankfein, has warned of a two-tier [...]
. . . there is no more physical redemption of the ABN AMRO gold accounts, it seems these contracts are no longer backed by physical gold. It’s just backed by paper, and this is of course typical for the paper market, Eric. This paper market, which is 100 times bigger than the physical market, probably has zero percent backing of physical. This is why ABN stopped redeeming in gold.
. . [...]
After the IRS revealed it had wrongly targeted hundreds of conservative and Tea Party groups, the agency claimed that the misconduct was limited to “low-level employees” in its Cincinnati office. Yesterday, the attorney for Lois Lerner, the head of the IRS’s tax-exempt organizations division, told the House Oversight Committee she would invoke her Fifth Amendment rights, making that explanation much less credible.
Now the local Cincinnati Fox affiliate, FOX19, has done [...]
DISCUSSION from estofex.org
… Southern to Central Italy …
A perhaps unseasonably well developed low pressure system is forecast to affect the area, with surface pressure plunging down to 990 hPa as the low approaches southern Italy by the evening hours. Deepening is forecast thanks to the strong PVA and WAA ahead of the approaching sharp short-wave trough, that should cross Italy in the evening to night hours. At its forward flank, [...]
by Charles Hugh-Smith
In his new book, Douglas Rushkoff examines the telescoping of time and context wrought by ubiquitous digital technologies.
One of the few observers who is able to articulate a coherent critical account of American culture is Douglas Rushkoff. His new must-read book is Present Shock: When Everything Happens Now (print edition) and (Kindle edition).
I have long found inspiration and insight in Rushkoff’s work, especially his keen understanding of the pathologies of consumerism. In [...]
Report: 1 of 2 men allegedly being questioned in connection with the Boston bombings was shot and killed by an FBI agent in Florida – @WESH
http://www.wesh.com/news/central-florida/orange-county/fbi-agent-involved-in-deadly-shooting-in-orlando/-/12978032/20249908/-/s0twg9z/-/index.html?absolute=true&utm_source=dlvr.it&utm_medium=twitter&utm_campaign=wesh
Speaking at a Jewish American Heritage Month reception last night in Washington, D.C., Vice President Joe Biden requested the “teleprompter in the room to be taken down,” according to the pool report.
Then he made a joke: “You can’t tell Barack that the teleprompter’s down. The standing joke in the office is Barack’s learning to speak without a teleprompter; I’m learning to speak with one.”
Biden added, “I apologize for the teleprompter.”
http://www.weeklystandard.com/blogs/biden-barack-s-learning-speak-without-teleprompter_728764.html
London Gold Market Report
from Adrian Ash, BullionVault
Weds 22 May, 08:45 EST
Asian Gold Premiums Hit New Highs as Europe Urged to Start “Aggressive QE”
BULLION prices rose throughout Asian and early London trade on Wednesday morning, touching $1398 per ounce for the third time this week and recovering 4.4% from Monday’s one-month low.
Silver rose more steadily, and was capped below $22.80 as energy prices slipped and agricultural commodities held flat.
Tuesday’s retreat in the [...]
Goldman Confirms ‘Recovery’ Hopes Have Gone As ‘Slowdown’ Deepens
With US Macro no longer the clean dirty shirt, the ‘hope’ of a recovery from the Spring swoon has faded rather quickly according to Goldman’s latest Global Leading Indicator (though obviously not David Kostin). The modest April pick up – driven mainly by sentiment indicators as opposed to hard data – has faded as the reality of economic deterioration was more pronounced asboth the Philadelphia Fed [...]
In this episode of the Keiser Report, Max Keiser and Stacy Herbert examine whether the markets are soaring or crashing but find it impossible to determine as long standing data patterns have broken down. They discuss feeding the ducks while they’re quacking and bitcoin vigilantes fighting the Fed. In the second half, Max talks to Sandeep Jaitly of FeketeResearch.com about the imminent extinction of the price of gold as well [...]
ARMED DHS GUARDS GREETED TEA PARTY PROTESTERS TODAY AT THE ST. LOUIS IRS RALLY–
http://www.thegatewaypundit.com/2013/05/woah-armed-dhs-guards-outside-irs-in-st-louis/
New images of a possible lost city hidden by Honduran rain forests show what might be the building foundations and mounds of Ciudad Blanca, a never-confirmed legendary metropolis.
Archaeologists and filmmakers Steven Elkins and Bill Benenson announced last year that they had discovered possible ruins in Honduras’ Mosquitia region using lidar, or light detection and ranging. Essentially, slow-flying planes send constant laser pulses toward the ground as they pass over the rain forest, [...]
Watch the white shirt scooter guy top of the video
He hits four vehicles before ending up in a massive hole.
Nikkei.com
http://www.businessinsider.com/japan-may-22-2013-5?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheMoneyGame+%28The+Money+Game%29
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