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Latest move represents huge transfer of wealth from the middle class to the elite Alex Jones & Paul Joseph Watson While Ben Bernanke’s announcement that the Federal Reserve will embark on an open ended scheme to purchase $40 billion in mortgage-backed securities each month has been touted by the establishment media as the beginning of “QE3? it is in fact nothing less than another banker bailout in disguise.
Perhaps no better example of the two camps of perspectives on the market’s performance and the Fed’s expectations was on display this afternoon on CNBC. In the ‘we need some destructive asset clearing in order to get back to any sort of growth trajectory and the Fed is feeding an inflationary monster with its band-aid upon band-aid money-printing’ camp is Peter Schiff; while the other side of the investing octagon is Ron [...] Dee Woo, Beijing Royal School
1. The frustrated and aggressive central bank
If one wants to know how bad the health of China’s economy has gone, look no further than the PBOC’s composure, which seems rather frustrated and aggressive as of late. On 5th July, the central bank cut benchmark interest rates for the 2nd time in less than a month. This happened right after the fact that in December 2011, PBOC cut [...] CHICAGO (AP) — Chicago’s mayor and police superintendent publicly defended their new gang-fighting strategy Monday amid growing criticism that the changes are failing and a big reason why the city’s homicide rate has soared this year. After weeks of media reports about Chicago homicides — which so far are up nearly 38 percent from last year — Mayor Rahm Emanuel and Police Superintendent Garry McCarthy defiantly said during a news conference that the gang strategies in place beforeMcCarthy arrived [...] From Washington’s Blog: The market rallied for a couple of hours on news of the $100 billion dollar Spanish bailout (which everyone is calling the Spailout) … and then crashed. Bloomberg notes: U.S. stocks fell, following the biggest weekly rally in the Standard & Poor’s 500 Index this year, as optimism over Spain’s bailout plan gave way to skepticism it will succeed in halting the debt crisis. It just gets more and more mind-numbing by the moment.The latest from Europe, which earlier confirmed that ESM loans would get preferred creditor status: SPANISH BANK RECAPITALIZATION LIKELY TO BE IN EFSF BONDS, SIMILAR TO GREEK RECAPITALIZATION – EU OFFICIAL The expectations are so high for Fed Chairman Ben Bernanke Thursday to say something revealing about more Fed easing that he can probably only disappoint markets. Bernanke’s 10 a.m. testimony before the Congressional Joint Economic Committee, comes on the heels of a major stock market rally, inspired in part by optimism for more Fed easing. Stocks had their best day of the year, rising 286 points to 12,414, and the S&P 500 [...] Anders Breivik requested a plaster from police for a cut on his finger as they arrested him on the island where he had gunned down 69 people. The Norwegian killed 77 people on July 22 last year, first detonating a car bomb in Oslo, then going on a shooting rampage at a camp on Utoya Island. When he surrendered, blood loss from a cut finger seemed his main concern, police said. Police superintendent [...] HANOVER, Germany – A German man has died almost a year after being struck in the backside by a mysterious stranger wielding a poisoned umbrella, The Local Germany reported Friday.
The Local quoted the newsmagazine Der Spiegel as saying an autopsy and toxicological tests carried out on the victim were expected to suggest mercury poisoning as the cause of death.
The unidentified 40-year-old man was diagnosed with mercury poisoning several weeks after [...] Washington, D.C. – Nevada Senator Harry Reid spoke on the Senate floor today regarding the transportation jobs bill and legislation to repeal subsidies for big oil companies raking in record profits. Below are his remarks as prepared for delivery: Tens of thousands of bridges and millions of miles of roadways across the country are in a state of disrepair. But, rather than putting Americans to work fixing those roads and bridges – and repairing [...] The 236% growth rate in the Fed’s balance sheet is staggering enough, but that’s a stock figure. The flow figure was (acc. to the GAO’s audit and Bloomberg’s FOIA) $16 trillion, plus another $10 T in CB swap facilities. That’s an enormous amount of churn for very little net gain…as the host and hostesses of Bloomberg TV indicated, the S&P was down 10%. Then they quickly retorted, “well can you [...] by Adam American investor (and longtime CM.com member) Erik Townsend has spent the past several years living internationally, with an eye to which countries may be good alternatives if economic crisis and/or Peak Oil start to materially impact life in the US. His main observation as an expat? Through its misguided policies, the US has been exporting inflation to the rest of the world, raising prices all over the globe (as an example, he [...] This was from one of the many higher gas price articles out there. What does everyone think of this band-aid idea? Boy are we desperate…
One idea might be a “pocketbook protection” plan, which would work as follows: If the averageprice of gas exceeds $4 a gallon, an additional, automatic payroll tax cut of 1 percent would kick in, as much as $50 per month, per person. The cut would stay [...] For those excepting a hyper-inflationary destruction of the US dollar at some point in the future, you might consider hanging on to your US dollars – at least some of them. There may still be a use for them post-collapse, as highlighted in the following real-life survival story: A snowshoer who was lost in a blizzard for two days on Washington state’s Mount Rainier said he stayed alive by digging out [...] It’s all a big sack of shit, and everyone and their dog knows it. Obama and Geithner: Government, Enron-Style RollingStone.com Geithner and Obama are behaving like Lehman executives before the crash of Lehman, not disclosing the full extent of the internal problem in order to keep investors from fleeing and creditors from calling in their chits. It’s worth noting that this kind of behavior – knowingly hiding the derogatory truth from the outside world in order [...] by ZH Over the past month we have been closely documenting a major funding squeeze in the all important shadow economy – the “synthetic liquidity” conduit which far more than traditional sources of cash, has become all important for proper bank functioning over the past decade. Courtesy of adverse development in Europe, one by one various components of this unregulated funding scheme have become frozen necessitating the first of many central [...] by ZH While our assessment that the latest and certainly not greatest European summit due this Friday will be yet another dud (confirmed by today’s Merkozy non-statement which took both Eurobonds and the ECB off the table), we are surprised to learn that none other than Deutsche Bank has once again joined our call that the market continues to get ahead of itself, in the process making life for the ECB [...] The wrangling over raising the US debt ceiling led the country to the edge of a financial disaster, and the deal reached seems like a band-aid on a torn jugular. A total of $2.4 trillion is to be saved over a period of 10 years, but that’s not much given the debt today already amounts to a barely imaginable $15 trillion and will probably have reached [...] Washington (CNN) — President Barack Obama ruled out any possibility of signing a short-term extension of the federal debt ceiling Monday, insisting that the time has come to tackle the nation’s most pressing fiscal problems in a comprehensive way requiring bipartisan compromise on both taxes and spending. The president continued to push for the largest deal possible — an apparent rejection of a proposal put [...] provided by A new federal program is offering aid with a sweet kicker: It doesn’t need to be repaid. For the roughly four million homeowners who have fallen behind on their mortgage payments, the federal government is offering yet another remedy: free money to catch up on their loans. The effort, called the Emergency Homeowners Loan Program, is the latest in the federal government’s efforts to [...] “But Dodd-Frank was neither an FDR-style, paradigm-shifting reform, nor a historic assault on free enterprise. What it was, ultimately, was a cop-out, a Band-Aid on a severed artery. If it marks the end of anything at all, it represents the end of the best opportunity we had to do something real about the criminal hijacking of America’s financial-services industry. During the yearlong legislative battle that forged this bill, Congress took [...] Will any legitimate news organization report on this? Even most Americans can understand this type of data. As of yesterday I am 100% out of equities now and forever…. 7 figure withdrawal… I’m tired of this BS ponzi game and being lied too… from ZH: The UMichigan consumer confidence index dropped from from 76, the best number since January 2008, to 66.5, the lowest since August 2009, on expectation of 74.5. The [...] This market and economy have been nothing more than a giant charade, created by the Fed and the criminals in Washington. Stimulus packages, bailouts, etc.. This administration has done nothing to create jobs; they stand there and beat their chests, saying how many jobs they’ve created and how the economy is improving. Been getting gas lately? Or buying food at the local supermarket? How about real estate taxes, water bills, [...] |
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