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Mac Slavo
The recent attacks on gold and silver markets are only a part of a broader strategy from the criminal cartels behind the global financial and political systems. We’ve seen what they did to stock markets in 2008. We’ve seen them steal trillions of dollars through government sponsored bailouts and currency machinations over the last five years. We’ve seen them collapse the economies of entire nations. We’ve seen them authorize the theft [...] By Greg Hunter’s USAWatchdog.com Legendary trader Yra Harris says, “The currency wars are real, and the game is on.” Harris says the global currency war is what helped Volkswagen gain market share in the last few years. So, what is Japan doing? It is cutting the value of its currency so Toyota will gain market share….
US to Win Currency War, Then ‘Implode’: Schiff …”There is a currency war going on,” Schiff said at the Inside ETFs [...] We have not been shy about exposing the massive (and unsustainable) bubble of credit being blown into the economy via Student Loans from the government. We have not been afraid to note the dramatic rise in delinquencies among these loans - and the implications for the government. However, as Bloomberg reports, it appears the impact of this exuberance has come back to bite the colleges themselves. In what can only be described as a vendor-financing [...] Peter Madoff, 67, spotted at synagogue in Manhattan celebrating granddaughter’s bat mitzvah in lavish ceremony Peter Madoff showed some real chutzpah by going to his daughter’s lavish bat mitzvah yesterday after his family pleaded with a judge to delay his 10-year prison sentence. The brother of shamed Ponzi-schemer Bernie Madoff was pictured by the New York Post attending his [...] from rollingstone: The federal rescue of Wall Street didn’t fix the economy – it created a permanent bailout state based on a Ponzi-like confidence scheme. And the worst may be yet to come It has been four long winters since the federal government, in the hulking, shaven-skulled, Alien Nation-esque form of then-Treasury Secretary Hank Paulson, committed $700 billion in taxpayer money to rescue Wall Street from its own chicanery and greed. To listen to [...]
In this episode, Max Keiser and Stacy Herbert look at the shootout at the OK Bond Corral as sovereigns battle Wall Street — which in turn battles state pension funds — for the same piece of infinitely re-hypothecated garbage collateral. In the second half, Max Keiser talks to hedge fund manager and ‘Planet Ponzi’ author Mitch Feierstein about the bond market, central bank-induced deflation and the London property market. From Zerohedge: Over the past several days there had been concerns that even if Greece managed to roll its maturing €5 billion in Bills with a new Bill issuance (which it did earlier today), it would be unable to actuallyobtain cash for this worthless paper, through a repo with the European Central Bank. The reason being that last week the ECB allowed a temporary extension in Greek ELA collateral eligibility to expire, [...] From Mao Money, Mao Problems: If readers have the time, I highly encourage them to read a book written before 1970 about any financial crisis in history. There are a lot of financial crises to choose from, and a few masterpieces written on them. A reader might be surprised that they are actually reading a narrative of the crisis they are currently experiencing. Garet Garrett (not a typo) published a book in 1932 [...] Moments ago, members of the Greek government, which likely won’t last long once the thorny issue of “math” returns and not even selling Bills to local banks (which promptly repo said Bills back to the Greek central bank) so the country can fund its payment to the ECB via an ECB guaranteed ELA payment from a Greek central Bank (confused yet) satisfies the New Normal ponzi math, made a strong [...] Update: NEIN GERMANY WON’T ACCEPT NEW ANTI-CRISIS INSTRUMENTS – GERMAN SOURCE *DJ Maybe the Italian football team should have bent over just a little. * * * Today’s edition of the Eurosummit is over. There was some news, however, as always happens, there is a twist: EU LEADERS HAVE AGREED A GROWTH PACKAGE OF 120 BLN EUROS BUT ITALY AND SPAIN NOT PREPARED TO SIGN OFF ON IT – EU OFFICIALS – *DJ Today Italy had a rather critical Bill auction in which it sold €9 billion in debt due six months from today. Obviously, since the maturity is well inside of the LTRO, the auction itself was rather meaningless from a risk standpoint. Still, the good news is that Italy managed to place the entire maximum amount targeted. The bad news: it cost Italy more to raise 6 months of debt, or [...] Yesterday we noted the supreme absurdity of having the Fed buy 10 year Bonds two hours before the Treasury sold 10 year bonds (which obviously priced at terrific terms as there was a $4 billion hole created courtesy of the Fed if only for 2 hours). Today, the lunacy continues. The Fed has justbought $2 billion in 30 year bonds just two hours before the Treasury sells $13 billion in 30 year paper. The ponzi has become so glaring [...] The scheme will contain all manner of hidden austerity measures specifically designed to keep the Ponzi afloat; it will involve currency debasement, subtle tax increases, etc… Greece will be allowed to leave, and likely helped with massive cash infusions, compliments of the Anglo/Germany/American alliance. Spain will be bailed out, uncertainty will be sidelined, for the moment, markets will recover and volatility will disappear until the American Presidential election is over, and [...] It may appeal to the devotees of Modern Monetary Theory, but for us mere simpletons, it doesn’t pass the most basic of stink tests. The logical extension of its premise is that sovereign central banks can just merrily issue debt ad infinitum, that we all live off the waves of liquidity that result, and if the shit hits the fan, the ECB/Fed/IMF/ FAIRY GODMOTHER will step in and save the day [...] Basically what will now be heard across the Euro continent is the populist fed theme: “We don’t want the peripherals to bleed to save the skin of Banksta Oligarchy of WS/City. We know that YOU KNOW that we now know, that the TRUE ISSUE is not government debt but private banking debt worldwide. That this Banksta cabal has used SHADOWBANKING pump to export austerity to southern Europe and maintain posperity [...] by David Pierre
First and maybe most important, China announced that they will purchase oil from Iran and will pay in Gold. This follows the same type of arrangement announced by India a couple of weeks ago. THIS is a very big “in your face” to the western world’s SWIFT transfer and settlement system. No matter how you look at it, this is Dollar negative and further proof that Dollar demand will drop [...] For stocks, a stable and impressive climb in 2012 The Associated Press? – 1 day ago “I don’t think anyone could have predicted this,” says Chip Cobb, a senior vice president at Bryn Mawr Trust Asset Management. For these gains, he says, “I thought it would take all year.” The jump gives money managers like Cobb hope that ordinary folks burned by two deep bear markets in a decade will start buying again, [...] Thanks to rampent unemployment and they are cashing out their 401ks to pay down debt and buy food, if it is for their direct families or for their elderly parents who are trying live live on a barely COLA’d SS. Meanwhile, the institutional investors (CBs) are creating more rampant inflation by leveraging debt in a way never seen in any society, and doing so by using a fiat based system. This [...] 1. Public pensions are HEAVILY invested in the market. What would happen to local, state and federal budgets if the market were back at 6,000? Shattering. Something funny happened on the road to a “fixed” Europe. A week ago we presented the €2.5 Trillion Closed Liquidity Loop at the heart of Europe’s (solvency and mercantilist) problems: the cumulative capital account deficits of Europe’s import countries (virtually all of them except for Germany and Holland), and the under the table funding mechanism, in the form of Germany’s subsidizing of said countries via the ECB TARGET2 cash settlement process. In simple terms, in order for [...] While we have shown some quite fascinating infographics (Here and Here) from the folks at Demonocracy, this one may be the most informative. Because while everyone knows by now that if the global “bailout” to preserve the insolvent ponzi were to be paid in crisp, physical $100 bills, the amount of money required would fill countless skyscrapers, and only pales compared to the the amount of money needed to fund the insolvent [...] by ZH Cue the fireworks in 3…2…1… FRIEDEN EUROPEANS CAN’T DO MUCH FOR GREECE BEYOND AGREEMENT – BBG And… drumroll please: FRIEDEN SAYS HE WISHES U.S. MORE INVOLVED IN STRENGTHENING IMF - BBG Translation: Hey America, we’ve done all we can, now it’s your turn to sustain the [...] http://mises.org/daily/5886/Withholding-Consent-from-the-Khan http://www.reuters.com/article/2012/02/07/us-usa-fbi-extremists-idUSTRE81600V20120207 Gold–first half of 2012–will hit $1400; Silver–first half of 2012–will hit $23 However, Gold–by 2013–will hit $2000; Silver–by 2013–will hit $40. THEN, while still experiencing ups and downs day-to-day, Gold will hit $5000+ and Silver $150+ by the end of 2015. The Euro is dead and the dollar is on artificial life support. Once this is understood, and once a final stage of manipulation in the Big Ponzi is realized to be a final [...] Central bank monopoly on the creation of legally recognized ‘tender’ must be maintained in order for the simmer-the-frogs-to-death-slowly game plan to unfold. The fractional reserve banking Ponzi depends on this absolute cornerstone for its very survival. It can’t fulfill its single mandate of creating booms [...] While European leaders would prefer to eschew concerns about individual sovereign nations’ ability to pay, borrow, and spend in favor of an aggregate EU that they believe reflects better in the world comparisons (if any aliens are considering stimulus support we assume), Goldman’s Hugo Scott-Gall is out today with his normal compendium of insightful charts. One specifically caught our eye on How Governments Spend as we makes the critical point [...] The distance between dimensional and linear is perception of perceptions, relativity. Once you understand the implications of addition to 0, enabling separation of charge through algebraic construction and deconstruction, across the dimensional looking glass multiplexer, the rest is a piece of cake. Your senses, driven by DNA feedback evolution, result in the integral false assumptions, which enable derivative switching for you, creating the event horizon channels. A fusion/fission reactor is a [...] For months in a row, the core propaganda meme seeking to drag lambs into the ponzi, has been one of “ignore Europe – it is irrelevant.” Naturally this “narrative” was primarily spread by expendable C-grade media elements whose careers will promptly terminate once this latest episode of artificial “decoupling” is over, as we have been warning for months (at a cost to the S&P of over 200 points). And judging [...] We did a double take when we read the following lead sentence from a just released Bloomberg report on what is about to take place in China: “China’s stocks regulator will “actively” push pension and housing funds to begin investing in capital markets, and encourage long-term investors such as insurers and corporate pension plans to buy more shares.” To paraphrase Lewis Black – we will repeat this, because it bears [...] Those with an eye on markets probably haven’t been able to miss that the Chinese stock market is in free fall. Here is some more news that signals that the problems have just started, the shit is hitting the fan: Contrary to its usual practice, the central bank did not release foreign exchange reserve figures along with money supply and lending data. The bank did not say when those numbers would [...] |
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