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The Federal Reserve Must Implement QE3
Gold prices surged today to a new all time high of $1,463.70 per ounce, while silver prices soared to a new 31-year high of $39.785 per ounce. Silver is now up 129% since NIA declared silver the best investment for the next decade on December 11th, 2009, at $17.40 per ounce. The gold/silver ratio is now down to 37, compared to a gold/silver ratio of 66 when NIA declared silver the best investment for the next decade. This means that not only is silver up 129% in terms of dollars since December 11th, 2009, but silver has also increased in purchasing power by 1.78X in terms of gold.
Gold is the world’s most stable asset and the best gauge of inflation. This brand new breakout in the price of gold leads us to believe that the Federal Reserve is getting ready to unleash QE3 at the end of June. The Fed will surely not call it QE3, but NIA can pretty much guarantee that the Fed will continue on with their purchases of U.S. treasuries. If the Fed pauses after QE2, it will mean that treasury bond yields will need to surge to a level where they attract enough private sector and foreign central bank Read more…
Researcher cites ancient Minoan-era ‘computer’
(ANA-MPA) — The Minoan civilisation on pre-Classical Crete discovered the first rudimentary analog computer in mankind’s history, according to researcher Minas Tsikritsis, an academic who specialises in ancient Aegean writing systems.
Tsikritsis, who also hails from Crete — where the Bronze Age Minoan civilization flourished from approximately 2700 BC to 1500 century BC — maintains that the Minoan Age object discovered in 1898 in Paleokastro site, in the Sitia district of western Crete, preceded the heralded “Antikythera Mechanism“ by 1,400 years, and was the first analog and “portable computer“ in history.
“While searching in the Archaeological Museum of Iraklion for Minoan Age findings with astronomical images on them we came across a stone-made matrix unearthed in the region of Paleokastro, Sitia. In the past, archaeologists had expressed the view that the carved symbols on its surface are related with the Sun and the Moon,” Tsikritsis said.
The Cretan researcher and university professor told ANA-MPA that after the relief image of a spoked disc on the right side of the matrix was analysed it was established that it served as a cast to build a mechanism that functioned as an analog computer to calculate solar and lunar eclipses. The mechanism was also used as sundial and as an instrument calculating the geographical latitude. (ANA-MPA)
The Deadly Effect of Fiat Currency
Many of the world’s woes can be attributed to our global fiat currency system—price inflation, food shortages, political instability, and speculative booms and busts. But perhaps the most devastating and horrible of the consequences of our fiat currency system is the terrible and unceasing prevalence of war. Today, we wince as we watch the U.S. enter into a third current foreign conflict, under the guise of a multi-national, humanitarian Libyan intervention. Yet, with the amount of excess currency flooding the global economy and the U.S. Federal Reserve’s seemingly limitless willingness to create more, history tells us it is practically inevitable that the result would be more war.
It is no coincidence that, even in ancient societies, the invention of fiat currency—currency Read more…
In Case of Govt Shutdown, IRS Would be Closed but not Federal Reserve or POMO
In order to make the biggest strawman so far in 2011 really scary and nasty, the administration just announced that as part of a government shut down, the IRS would end up being closed. While according to some this is the ulterior motive all along to avoid the premature outflow of tens of billions in cash due to federal tax refunds hitting the IRS next week, which without a debt ceiling hike would push the country into technical default possibly as soon as next week (debt subject to the limit was $14.2 trillion two days ago, just $94 billion under the ceiling and with about $74 billion in debt to be issued next week a $20 billion tax refund withdrawal would push the Treasury over the limit), what is far more amusing is that as the WSJ reminds us, the Fed would still be able to monetize debt regardless if the government was operating or not. Ergo nothing can end POMO ahead of Read more…
USGS maps NOT REPORTING known significant earthquake data near New Madrid Fault
Confidential U.S. document reveals “new threats” at Fukushima: Risk of explosions inside containment structures… “Likely no water” in No. 1 reactor core — “Could persist indefinitely”
U.S. Sees Array of New Threats at Japan’s Nuclear Plant, New York Times by James Glanz and William J. Broad, April 5, 2011:
[Emphasis Added]
United States government engineers sent to help with the crisis in Japan are warning that the troubled nuclear plant there is facing a wide array of fresh threats that could persist indefinitely, and that in some cases are expected to increase as a result of the very measures being taken to keep the plant stable, according to a confidential assessment [dated March 26] prepared by the Nuclear Regulatory Commission. …
The Times’ article spotlighted several items of extreme importance:
- “Semimolten” fuel rods and salt are “impeding the flow of fresh water meant to cool the nuclear cores” in ALL THREE REACTORS
- The water flow in reactor No. 1 “is severely restricted and likely blocked“
- Similar problems exist in No. 2 and No. 3, although the blockage is probably less severe
- “There is likely no water level” inside the core of reactor No. 1
- There is a possibility of “explosions inside the containment structures”
Read the article here.
Strong geomagnetic storm slams Earth on Wednesday
(TheWeatherSpace.com) — A solar storm is in progress right now with the highest Kp-index in a while being recorded.
The solar storm has a Kp-Index of 6, out of the 0-9 scale. This is higher than any previous solar storms, including the March event. What caused this without a flare?
“This solar storm is likely a flare caused storm,” TheWeatherSpace.com Senior Meteorologist Kevin Martin said. “It may not have been Earth directed but a blast from the sun a couple days ago hurled a lot of material into space. This material sometimes does not follow a straight line, but can curve with the influence of magnetic fields and gravity.”
Mid and High latitude observer should check out the skies and see if the northern and southern lights are around.
Martin is the scientist that thinks solar storms are triggers to earthquake activity. Will it cause a large quake? Time will tell but enjoy the skies for the next nine hours if it is clear, dark, and you are in a higher latitude.
Legislation Repealing Controversial Form 1099 Rules Passed By Senate, Headed To White House
Florence Delva/Getty Images A stack of coins is shown in this file photo. A new IRS rule that will start in 2012 will require sellers, buyers of gold coins to file IRS paperwork.
(Kitco News) Both chambers of the U.S. Congress have approved legislation to eliminate controversial new Form 1099 tax-reporting requirements that coin dealers and other business organizations had complained was too onerous.
The measure is on its way to the desk of President Obama after Senate passage by an 87-12 vote Tuesday. A number of news reports suggested that the White House is expected to sign the bill into law.
Sen. Mike Johanns (R-Neb.), who introduced Form 1099 repeal seven times, said the Senate measure was identical to a version that already passed the House of Representatives. This means the measure does not have to go to a conference committee and instead goes directly to the White House. An amendment that would have resulted in further delay of 1099 repeal was rejected, he said.
“I appreciate that my colleagues have seen the wisdom of avoiding further delays and getting this costly, looming paperwork burden off the backs of our job creators,” Johanns said. “We now need only a simple signature from the president and this bill will become law, saving jobs and much needed capital for our small businesses.”
The House passed a bill for repeal of the Form 1099 rules in early March. Both parties have favored repeal for months now, although it was held up by a fight over how to offset to any health-care funding that purportedly would be lost. According to news reports, the House and Senate bills would limit health-care subsidies for families over a certain income threshold.
The Industry Council for Tangible Assets said Tuesday night it was cautiously optimistic that the repeal will become law. ICTA is a trade group for the rare coin, precious metals and tangible assets industry.
The group noted that as of early last month, a statement of administration policy indicated that the White House did not agree with Read more…
Sudan Accuses Israel Of Attack; Khartoum ‘Reserves The Right To React’
KHARTOUM (Reuters) – Sudan’s Foreign Minister Ali Karti on Wednesday accused Israel of carrying out an attack on Tuesday near Port Sudan that killed two people and said Khartoum reserved the right to react to the aggression.
“This is absolutely an Israeli attack,” he told reporters.
He said Israel undertook the attack in order scupper Sudan’s chances of being removed from a U.S. list of state sponsors of terrorism.
One of the two people killed in the strike was a Sudanese citizen who had no ties to Islamists or the government, he said.
Israeli Foreign Ministry spokesman Yigal Palmor declined to comment on the accusation.
Sudanese officials have offered different versions on how the strike was carried out. Police say a missile struck the car near the port city, but a state government official blamed a bombing by a foreign aircraft that flew in from the Red Sea.
Sudanese officials in 2009 said unknown aircraft had killed scores in a strike on a convoy of suspected arms smugglers on a remote road in the east, which some reports said may have been carried out by Israel to stop weapons bound for Gaza.
Sudan is on a U.S. list of state sponsors of terrorism, but Washington this year initiated the process to remove it from that list after a peaceful January referendum in which the country’s south voted to secede.
Sea level rises the fastest in 350 years
MELTING mountain glaciers are contributing to the fastest sea level rise in 350 years, according to research by Welsh scientists.
The team from Aberystwyth University, the University of Exeter and Stockholm University undertook a survey of the 270 largest outlet glaciers of the south and north Patagonian icefields of South America.
They mapped changes in the position of the glaciers since the Little Ice Age, which was the last time in the recent past when they were much larger.
The team calculated the volume of ice lost by the glaciers as they have retreated and thinned over the past 350 years and compared these volume losses to rates of change over the last 30 years.
They found that the rate at which the glaciers are losing volume over the past 30 years is between 10 and 100 times faster than the 350- year long-term average.
The study, which has been published in the journal Nature Geoscience, concludes the mountain glaciers have rapidly increased their melt rate in recent years and consequently their contribution to global sea level.
Lead author, Professor Neil Glasser of Aberystwyth University, said the work was based on a longer timescale than any earlier glacier research conducted.
The second author Dr Stephan Harrison of the University of Exeter, said: “The work is significant because it is the first time anyone has made a direct estimate of the sea-level contribution from glaciers since the peak of the Industrial Revolution.”
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