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
Did this make the news? (I don’t watch the MSM).
House Passes Legislation to Repeal Health Care Law
Washington, May 16 – WASHINGTON, DC – Congressman Bill Posey (R-Rockledge) released the following statement regarding today’s vote on legislation he cosponsored which fully repeals the Obamacare law:
“The Administration is carrying out a dangerous experiment on our families, our businesses and the overall economy,” said Posey. “The problem with passing a massive, complicated bill [...]
BREAKING: GOP Ways and Means chairman sees IRS problem as part of administration `culture of cover-ups.’ – @AP
NOW: Rep. Levin says IRS showed “total disreagard” for Congressional oversight in targeting certain groups; “Wholly unacceptable.”
‘I count at least 5 serious violations of the taxpayers’ rights’ Chair Camp says to IRS chief pic.twitter.com/l3PmLDehhm
NEW: IRS began searching early 2010 for applications named ‘Tea Party,’ ‘Patriots,’ ’9/12,’ and other political titles, per statement
WATCH LIVE: [...]
For their printable solar cells, the VICOSC team used photovoltaic ink, a $200,000 printer, and techniques similar to those you’d use “if you were screen printing an image on to a t-shirt.”
Scientists have produced the largest flexible, plastic solar cells in Australia – 10 times the size of what they were previously able to – thanks to a new solar cell printer that has been installed at CSIRO.
Using semiconducting inks, [...]
London Gold Market Report
from Adrian Ash, BullionVault
Fri 17 May, 08:15 EST
Pension Funds “Selling Gold ETFs”, Dollar Weakness Seen Offering “Only Hope” Short Term
GOLD PRICES failed to hold a rally above $1380 per ounce in London on Friday morning, trading 5% down for the week as world stock markets held steady.
Both the Euro and British Pound also cut their mid-week rallies against the Dollar, holding gold prices at €1070 and £904 per [...]
Today’s AM fix was USD 1,376.75, EUR 1,069.15 and GBP 903.62 per ounce.
Yesterday’s AM fix was USD 1,377.00, EUR 1,070.01 and GBP 904.32 per ounce.
Cross Currency Table – (Bloomberg)
Gold fell $6.00 or -0.43% yesterday to $1,386.70/oz and silver finished +0.71%.
Nothing has changed regarding the positive fundamentals of the physical gold market.
All that has changed is that the price of gold is again lower due to the machinations of [...]
Loose Central Bank Policies Looking Increasingly Dangerous, BIS Official Warns
The latest to take up the refrain is Jaime Caruana, general manager of the Bank for International Settlements, who warned in an unusually frank speech in London that, while the ultra-low interest rates and ultra-easy monetary policy adopted by advanced economy central banks might have been the right response to the crisis when it broke, they are looking increasingly dangerous the longer they [...]
Let’s do a quick recap on this IRS Scandal :
1. The IRS targeted over 470 conservative groups going back through 2 election cycles. They illegally required info about donors, members, volunteers, speakers, names of the people who attended any training (especially college and h.s. attendees), all social media, all emails, all media interactions.. and on and on…
2. The IRS also targeted pro-life groups, requiring them to agree not to engage in [...]
May 16th, 2013
With seven billion people on the planet energy and food resources are already highly strained, as evidenced by the fact that the majority of the world’s population lives on just scraps a day.
It wouldn’t take much to send us over a cliff. The last several years have not only reduced food reserves significantly because of widespread droughts, but have led to price inflation in essential grains necessary to [...]
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 [...]
OPERATION – RESULTS
Outright Coupon Purchase
Maturity/Call Date Range:
02/28/2018 – 02/15/2019
Total Par Amt Accepted (mlns) :
Total Par Amt Submitted (mlns) :
Gregor Peter‏@L0gg0l2 min
ISRAELI SPECIAL FORCES CROSSING INTO #SYRIA, FOX NEWS VIDEO SHOWS
Russia Has Just Made Sure That Any US Deliveries Of Weapons To Syria Will Be Airborne
Russia has deployed upwards of a dozen ships to its naval base in Syria over the past three months, and recently sent advanced anti-ship missiles to the embattled Syrian government, highlighting the depth of Moscow’s commitment to the Assad regime and the challenges in [...]
Amid sequester and scandal in Washington, the White House announced Friday that the president and first lady will be hosting another concert as part of their “In Performance at the White House” later this month.
The event will be held in the East Room of the White House and honor singer and song writer Carole King, who will be awarded the 2013 Library of Congress Gershwin Prize for Popular Song. King [...]
It’s 1.7 miles long. Its surface is covered in a sticky black substance similar to the gunk at the bottom of a barbecue. If it impacted Earth it would probably result in global extinction. Good thing it is just making a flyby.
Asteroid 1998 QE2 will make its closest pass to Earth on May 31 at 1:59 p.m. PDT.
Scientists are not sure where this unusually large space rock, which was discovered [...]
May 17, 2013
Even after cutting off the head of al-Qaeda, the United States Department of Defense doesn’t believe an end to the war on terror is in sight. On Thursday, one Pentagon official predicted the mission against al-Qaeda could continue for another two decades.
Speaking to the Senate Armed Services early Thursday, Assistant Secretary of Defense for Special Operations Michael Sheehan said the Pentagon has no plans to pull out of [...]
So, this is NJ huh?
Second Amendment activist, James Kaleda, was forcefully removed from a hearing on a new gun control bill in NJ during his testimony.
Yes, James’ testimony got a little heated, but he was still making an intelligent argument.
Notice in the video the legislators laugh as they have their security (armed with guns of course) remove Kaleda before he finished his testimony.
Kaleda receives a standing ovation from the gallery [...]
DEVELOPING: Navy Seal Killed in Ft. Knox Training Exercise
Just more than a day after the White House released 100 pages of emails relating to September’s terrorist attack in Benghazi, it’s clear that ABC’s bombshell report a week ago was misleading.
CBS’ Major Garrett called out Republicans and ABC in a report Thursday that showed the emails in ABC‘s report clearly try to downplay the CIA’s role in shaping the talking points and place more emphasis on the State Department.
In particular, the GOP-leaked [...]
SGTbull07, Published on May 17, 2013
Adam Kokesh’s July 4th ‘Armed March on Washington’ is pause for concern. Is it a good idea and an expression of the natural born rights of free men who are fed up with the overt criminality coming out of the District of Coumbia? Or is it a misguided plan which can only end badly, giving more than ample opportunity for the mainstream mockingbird media to further demonize [...]