The Past Two Weeks Were A Preview Of The ‘Horror Movie’ Coming To The Bond Market This Summer
Over the past few weeks, attention in financial markets has once again turned to the prospect of the Federal Reserve tapering back its monetary stimulus, spurred on by public speeches from Fed presidents and articles fromWSJ reporter Jon Hilsenrath, who is viewed as close to the central bank.
As concerns that the Fed may begin [...]
Steve Herman ‏@W7VOA 10m
#DPRK reported to have launched some short-range missiles into sea. #Korea
Steve Herman ‏@W7VOA 10m
Yonhap says #DPRK launched 3 short-range missiles into East Sea (aka Sea of Japan).
South Korea’s Ministry of Defense has detected three launches of short-range guided missiles by North Korea, it said.
Two launches were fired on Saturday morning and another one in the afternoon, reports Yonhap news agency. The missiles were fired from the east [...]
Meet the Wall Street-International Monetary Fund Brothers of Destruction; why Ben Bernanke can’t count; the 10-year hangover from the Tequila Trap; and the fox guarding the chicken coop. Seek truth from facts with Econned author Yves Smith, Web of Debt author Ellen Brown, former senior financial regulator Bill Black, Balkans specialist Nebojsa Malic, and globalization debunker Dr. Carlos Encinas
The U.S. will reach its debt limit on Saturday, Treasury Secretary Jacob Lew told congressional leaders in a letter on Friday, but said the U.S. is taking extraordinary measures to keep paying bills. Lew said those measures, including previously announced suspension of sales of state and local Treasury securities, won’t be exhausted until “after Labor Day.”
Lew asks Congress for debt increase, says it’s ‘not open to debate’
Treasury Secretary Jack Lew [...]
We Are Headed Directly Into A Brick Wall Where Everything Just Stops
Every market is going in the wrong direction in preparation for what is coming. Yes I know, this is always how it works when bubbles are being blown. Money is pouring into bonds in particular, stocks are being propped up and margin balances swollen, people are also being prodded into “selling” their Gold (paper obligations).
As I see it, we are headed [...]
Rep. Charlie Rangel (D., N.Y.), who was notably censured for not paying 17 years worth of taxes on rental income from a Dominican Republic villa he owned, said Friday morning, “This is wrong to abuse the tax system.”
News Channel “Fox News”, presented a video which shows IDF soldiers emerging from Syrian territory. Those who know and read between the lines, can understand that the story was probably in conjunction with the approval of the IDF and may aim to send a message to Assad.
Israel might strike Syria again soon, report says
The Wall Street Journal late Thursday cited US officials as saying that Israel could strike a weapon [...]
IRS Commissioner: Activity ‘Absolutely Not Illegal’
IRS commissioner Steven Miller said the IRS’s targeting of conservatives “is absolutely not illegal”:
IRS stalled conservative groups, but gave speedy approval to Obama foundation
When the Barack H. Obama Foundation sought tax-exempt status to raise money for good works in Kenya, the Internal Revenue Service provided quick help.
The IRS approved charitable status for the foundation, which was run by President Obama’s brother and named after his father, in [...]
Bankers Fixing The System story about banking industry in 2012 BBC documentary
With gripping first-hand accounts from banking insiders, regulators and politicians this film tells the story of two recent multi-billion pound trading disasters that rocked the City. It shows that some bankers are still taking reckless risks, five years after the crash that brought the world’s economy to its knees. Risk is the engine of growth but reckless risk can [...]
by Phoenix Capital Research
If you want to get a sense of what’s happening in the world, your best bet is to ignore Government data and focus on corporate revenues.
Why revenues? Because earnings can be massaged any number of ways (depreciation methods, laying off staff to cut costs, depletion of loan loss reserves for banks, etc.). But you cannot fake actual money coming in the door.
With that in mind, I want [...]
Switzerland’s cherished banking secrecy is under threat. In the ongoing battle against tax evasion, EU finance ministers have agreed to put pressure on the non-member nation to share its banking data with the Union. Investor Jim Rogers told RT that instead of trying to crack tax havens, EU leaders should address the real problems – like their own unchecked spending habits.
Ex-Military Bio-Environmental Engineer Kristen Meghan Blows Whistle On Air Force Chemtrails
The new coalition government in Italy is off to such a rocky start, it’s hard to say there ever was a honeymoon.
People want more jobs. Instead, the price for a coalition by former Prime Minister Mario Silvio Berlusconi was a rollback in property taxes.
Here is the result: Thousands rally in Rome against cuts.
Thousands of protesters, led by trade unionists, have rallied in the Italian capital Rome against the policies of the [...]
Gun ranges are being forced to implement rationing policies in order to keep enough ammunition to meet some customer demand due to a prolonged ammunition shortage the likes of which many industry employees say they have never seen.
Blue Ridge Arsenal Inc. in Chantilly, Va. is one such range. For the last few months, they have limited customers to one ammunition box per shooting lane, no matter the number of people shooting [...]
A consortium of plaintiffs led by 54 of Colorado’s 62 elected county sheriffs filed a lawsuit in federal court against the state Friday in an effort to overturn two new gun control bills that are set to go into effect on July 1.
The plaintiffs have in their sights one law that effectively bans all firearm magazines, and one that requires a background check for every gun transfer when the gun will be [...]
ATLANTA (CBS ATLANTA) – Nearly 1 in 5 children in the U.S. suffers from a mental disorder, and this number has been rising for more than a decade.
According to a study conducted by the Centers for Disease Control and Prevention, up to 20 percent of American children are suffering from mental disorders such as attention-deficit hyperactivity disorder (ADHD), anxiety, depression and autism.
The CDC’s first study of mental disorders among children aged 3 [...]
May 18, 2013
A federal judge recently ruled that if someone has their cell phone turned on, their location data does not deserve protection under the Fourth Amendment, meaning law enforcement can track individuals without a search warrant.
New York magistrate judge Gary Brown decided in favor of Drug Enforcement Administration (DEA) agents who were seeking his approval over a warrant on a doctor who they suspected was being paid for issuing [...]
Few food items have enjoyed a more surprising recent resurgence than the savory strips of pig fat known as bacon. It is being wrapped around entrees, used to swizzle cocktails, and even serves as a flavor of ice cream.
But now a popular pork-focused restaurant in the Upper Haight must close its doors Friday following months of failed negotiations with neighbors over neighborhood concerns about porcine aroma and grease disposal.
Department of [...]
During a House Ways and Means Committee hearing today, Rep. Aaron Schock, R-Ill., grilled outgoing IRS commissioner Steven Miller about the IRS targeting a pro-life group in Iowa.
“Their question, specifically asked from the IRS to the Coalition for Life of Iowa: ‘Please detail the content of the members of your organization’s prayers,’” Schock declared.
From BullionVault Gold News:
Some things to remember amid the volatility of the gold price…
WHEN VOLATILITY prevails in the gold market, I love seeing so many different opinions because it promotes critical thinking and healthy markets, writes Frank Holmes, CEO and chief investment officer of U.S. Global Investors.
But because gold is unlike any other commodity, many perspectives can be extreme, such as “goldenfreudes” who take pleasure in gold bugs’ pain.
I continue [...]
Valid: Fri 17 May 2013 06:00 to Sat 18 May 2013 06:00 UTC
Issued: Thu 16 May 2013 22:12
A level 1 was issued for parts of Russia, Latvia, Lithuania, Belarus and the Ukraine mainly for large hail and excessive precipitation.
A level 1 and level 2 were issued for Montenegro, Albania, Southern Serbia, Macedonia, and parts of Bulgaria and Greece mainly for large hail and severe wind gusts.
A level 1 [...]
By Paul B. Farrell, MarketWatch
Yes, X-Prize billionaires are failing their mission: “Making the Impossible Possible.” Now they need at least $10 trillion to save the world, and a far grander vision, the new “10X-Prizes.”
And their leader, Dr. Peter Diamandis, the co-author of “Abundance: The Future is Better Than You Think,” the CEO driving today’s X-Prize Foundation (“Making the Impossible Possible”) and also the Chairman of Singularity University (“Solving [...]
In a move considered aggressive by US and European officials, Russia has sent at least 12 warships to patrol waters near its naval base in Tartous, Syria.
The deployment appears to be a warning to Israeli and Western officials against military intervention in Syria’s bloody civil war, which has now claimed the lives of over 80,000 people.
Russia’s increased presence in the region — which began raising eyebrows in the US three [...]
Mall Security Guard, Accident Onlooker Scuffle
May 17, 2013
Activists demanding the closure of the Guantanamo Bay prison have marked the 100th day of a hunger strike there by submitting a petition to the White House containing some 370,000 signatures.
A group of activists wearing orange jumpsuits and black hoods like those used on detainees at Guantanamo Bay gathered outside the White House on Friday to call for the immediate closure of the controversial jail.
“Immoral, illegal, ineffective,” [...]
Welcome to America: now stand in line for three hours. Millions of British holidaymakers and business travellers heading for the US this summer face longer waits than ever to be processed by immigration.
Research by The Independent reveals that budget cuts at US Customs and Border Protection (CBP) have sharply increased airport queues, with the worst delays in the “Sunshine State” of Florida.
The longest maximum average wait time for international arrivals [...]
Dr. Heiner Flassbeck: Government has to step in and correct the imbalances of low wages and unregulated financial markets or a deeper recession and crisis is inevitable
Metro-North Trains Involved In ‘Major Derailment’ In Conn., Dozens Of Injuries
Gov. Malloy Says At Least 60 Injured, But None Are Life-Threatening
BRIDGEPORT, Conn. (CBSNewYork) — Two Metro-North trains collided just east of the Fairfield Metro Station, authorities announced Friday evening.
“This is a very serious incident,” Gov. Dannel Malloy said during a briefing on Friday night.
According to Metro-North, an eastbound train, the 4:41 p.m. out of New Haven, derailed and collided with a westbound [...]
Gregor Peter‏@L0gg0l8 min
Alabama, not Greece RT @911BUFF: ALABAMA: TORNADO TOUCH DOWN IN ATHENS. UNCONFIRMED REPORTS OF DAMAGES AND INJURIES. #911BUFF
Tornado Warning for Limestone County in AL until 2:45pm CDT. #alwx
Weather Underground‏@wunderground1 min
Tornado Warning for Limestone County in AL until 3:00 PM CDT
The Weather Channel‏@weatherchannel19 min
Trees, powerlines downed, additional damage around Steelcase, Inc. in Athens, AL, per @NWSHuntsville and EM.
The Weather Channel‏@weatherchannel32 min
Take cover in the city of Athens, AL. [...]
Three Federal Reserve regional bank presidents called for phasing out the Fed’s monthly purchases of $40 billion in mortgage-backed securities as the housing recovery shows signs of gaining momentum.
Dallas Federal Reserve Bank President Richard Fisher said today buying mortgage bonds risks disrupting the market, while Philadelphia Fed President Charles Plosser said, “it’s not good for the bank to be holding lots of mortgage paper.” Jeffrey Lacker of Richmond said to reporters yesterday the Fed should “get [...]
In no uncertain terms and with no hedging, The New York Times reports that the Obama administration was aware of the fact that the IRS was targeting Tea Party groups as far back as June of 2012. The Treasury Department’s Inspector General confirmed that he told senior Treasury officials in June of 2012, a full five months before Election Day:
The Treasury Department’s inspector general told senior Treasury officials in June 2012 he was [...]
From All Star Charts:
I always find it interesting when markets hit new highs and bullish sentiment simultaneously drops. I realize there’s a lot of noise in these weekly AAII Sentiment polls, but it’s fascinating nonetheless.
I think it’s really just the same old story of a hated market. The AAII Investor Sentiment Survey measures the percentage of individual investors who are bullish, bearish, or neutral on the stock market over the [...]
More than $92 million in bonuses averaging $5,500 per employee have been handed out by IRS executives to thousands of the tax agency’s employees since 2009, according to data obtained by The Washington Examiner.
The average annual salary of the employees receiving at least one bonus during the four-year period between 2009 and 2012 was slightly less than $94,000, indicating that the extra tax dollars mostly went to managers and executives eligible [...]
From Kimble Charting Solutions:
CLICK ON CHART TO ENLARGE
The Yen, Australian $ and the Euro have created pennant patterns over the past few years and each of these currencies is now breaking support of the pennant patterns.
As the same time the US$ has been unable to “Close on a monthly” basis above line (1) in the chart above.
Joe Friday….A close above line (1) would be bullish for the US$ and should cause further [...]