Michael Pento: “There is no such thing as a complete and genuine bailout, there is only a transfer of burden from the government & banks to the middle class.”

kingworldnews.com

With gold up $111 and silver trading over $4 higher this week, today Michael Pento, of Pento Portfolio Strategies, writes for KWN to explain why the metals surged and why they will continue to surge in the months ahead.  Pento states, “Greece has supposedly received a bailout and markets across the globe are soaring.  In fact, they are rising in the same manner they did a few months after the [...]

What’s 13 and a half Trillion dollars supposed to mean to Joe Sixpack? This is the best I could come up with:

by Mark McHugh of Across The Street

Can you say “Unsustainable”?

Another way to confuse people is with words.  Focus, if you will, on just two words from the Purposes page of the Emergency Economic Stabilization Act of 2008:

The purposes of this chapter are—

(1) to immediately provide authority and facilities that the Secretary of the Treasury can use to restore liquidity and stability to the financial system of [...]

The Presidents Group On Financial Markets(PPT) have a number of statements you can view online.

Here is one of them.

Statement by the President’s Working Group on Financial Markets

Washington, DC– The President’s Working Group on Financial Markets issued the following statement today:

Conditions in U.S. and global financial markets remain extremely strained. The President’s Working Group on Financial Markets (PWG) is working with market participants and regulators globally to address the current challenges and restore confidence and stability to financial markets around the world.

With the passage of [...]