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Fed Ready to Print More Funny Money on QE3 Rumors
Simon Maughn, co-head of European equities at MF Global, has told CNBC that a third round of so-called quantitative easing is in the works. The private Federal Reserve will again become the marginal buyer of bonds.
The latest effort by the Fed to finance the government’s staggering deficit will end in June.
If the private Federal Reserve owned by offshore banksters stops this lending scheme, interest rates will rise significantly which in turn will exert tremendous pressure on the American public. If interest rates surge anytime soon, millions of indebted Americans may default on their debt, thereby bankrupting the American financial institutions, as Puru Saxena, founder of Puru Saxena Wealth Management, notes.
“The bond market is going in one direction which is up-falling yields which is telling you quite clearly the direction of economic travel is downwards. Downgrades. QE3 (a third round of quantitative easing) is coming,” Read more…
WikiLeaks: Saudis Often Warned U.S. About Oil Speculators
Further evidence of the vacuity of the ‘war for oil’ argument. Much of the price for oil is today determined in the derivatives market by Wall Street speculators rather than by producers or suppliers. The underlying commodity usually has a minimum impact on the actual price. But the Commodity Futures Trading Commission will not investigate this for the same reason why it was prevented from investigating the banks. Because Wall Street owns the executive branch. (Don’t miss the excellent Inside Job and this post by Pat Lang).
New concerns over Lyme disease
Ted Simons can’t remember the content of a recent phone conversation. When he reads, an activity he has always enjoyed, he has trouble understanding and retaining what he’s read.
Yet Simons, a performer and composer of music, can still play the piano and remember thousands of songs. The 78-year-old Westport resident and his wife Jean don’t know exactly what’s wrong with him.
Tests have shown it’s unlikely he has Alzheimer’s disease, though he shows signs of dementia. The couple have tried various therapies, but nothing has worked for long. In talking to doctors, the Simons have developed a possible, unexpected cause for Ted’s confusion and memory problems: Lyme disease.
The illness, spread by tick bites, can affect different organ systems, including Read more…
What Would Fractional Silver Mean?
In Mid-may of this year, something curious happened, which I’d not seen before.
I’ve been following the course of where the dollar was heading and how it related to the pricing of gold and silver. Typically, I follow a number of sources for information, then try to wrap all those opinions into something concise, allowing me to share it with others. Most everyone following precious metals knows how GATA has been beating the drum about gold manipulation for quite some time now. History (past and current) is a very good place to start down the rabbit trail.
Informed people (like Paul Craig Roberts, Bob Chapman, Gerald Celente, Robby Noel, Lindsey Williams) have also helped shape a number of my opinions and speculations regarding where this economy is heading. Again, these are all very credible individuals who’ve been reporting on “real” financial issues for a number of years, if not decades now. And, even though it can be a bad habit, tune into the mainstream media to hear what they are trying to make the public believe for that moment. Every so often, they slip and Read more…
Experts: Mega-Quakes Can Create Pole Shifts
Mega-thrust earthquakes like the ones that recently struck Chile and the Fukushima region of Northern Japan, can cause the magnetic field to flip. If a quake is strong enough there is evidence it may even set off a geological pole shift tossing the Earth off its current axis and killing billions of people within a matter of minutes.
This the grim picture painted by decades of research and evidence strewn from the peaks of the Andes to the volcanic shards lying off the Pacific islands of Hawaii.
Cities could be swept away in the blink of an eye
Enormous earthquakes cause enormous damage. The threat is real and growing, as world renown physicist and popular science author, Dr.Michio Kaku , recently explained on ABC’s “Good Morning America.”
According to Dr. Kaku, some of the world’s most important and populated cities could be swept away in the blink of an eye. “In our life time, we could very well see one of these cities destroyed,” Kaku claimed. “Los Angeles, San Francisco, Mexico City, Tehran, and Tokyo.”
It is actually Mankind and not nature that has placed up to one billion people at risk. “We are creating mega cities where there used to be Read more…
U.S. running out of critical gas to detect smuggled nuclear weapons materials, report finds
Agencies’ Lack of Coordination Hindered Supply of Crucial Gas, Report Says
By MATTHEW L. WALD
WASHINGTON — The United States is running out of a rare gas that is crucial for detecting smuggled nuclear weapons materials because one arm of the Energy Department was selling the gas six times as fast as another arm could accumulate it, and the two sides failed to communicate for years, according to a new Congressional audit.
The gas, helium-3, is a byproduct of the nuclear weapons program, but as the number of nuclear weapons has declined, so has the supply of the gas. Yet, as the supply was shrinking, the government was investing more than $200 million to develop detection technology that required helium-3.
As a result, government scientists and contractors are now racing to find or develop a Read more…
House Passes Authority for Worldwide War
The House just passed the National Defense Authorization Act (NDAA), including a provision to authorize worldwide war, which has no expiration date and will allow this president — and any future president — to go to war anywhere in the world, at any time, without further congressional authorization. The new authorization wouldn’t even require the president to show any threat to the national security of the United States. The American military could become the world’s cop, and could be sent into harm’s way almost anywhere and everywhere around the globe.
Before the vote, the House debated an amendment that would have struck the worldwide war provision. That amendment was introduced by a bipartisan group of representatives: Rep. Justin Amash (R-Mich.), Rep. John Conyers (D-Mich.), Rep. Walter Jones (R-N.C.), Rep. Barbara Lee (D-Calif.), Rep. Jerrold Nadler (D-N.Y.), and Rep. Ron Paul (R-Texas). Given the enormity of the proposed law, you’d expect the House to debate the amendment to strike it extensively, but that’s not what happened. The amendment was debated for a total of 20 minutes. That’s right. Twenty minutes to debate whether Congress should hand the executive branch sweeping worldwide war authority.
The vote on the amendment took place earlier this afternoon, and it failed on the House floor by a vote of 187-in favor to 234-opposed. Check the vote here.
But not to worry, all of your efforts to bring the importance of the new law and the amendment to strike it to your representatives’ attention have Read more…
US to store passenger data for 15 years
The personal data of millions of passengers who fly between the US and Europe, including credit card details, phone numbers and home addresses, may be stored by the US department of homeland security for 15 years, according to a draft agreement between Washington and Brussels leaked to the Guardian.
The “restricted” draft, which emerged from negotiations between the US and EU, opens the way for passenger data provided to airlines on check-in to be analysed by US automated data-mining and profiling programmes in the name of fighting terrorism, crime and illegal migration. The Americans want to require airlines to supply passenger lists as near complete as possible 96 hours before takeoff, so names can be checked against terrorist and immigration watchlists.
The agreement acknowledges that there will be occasions when people are delayed or prevented from flying because they are wrongly identified as a threat, and gives them the right to petition for judicial review in the US federal court. It also outlines procedures in the event of anticipated data losses or other unauthorised disclosure. The text includes provisions under which “sensitive personal data” – such as ethnic origin, political opinions, and details of health or sex life – can be used in exceptional circumstances where an individual’s life could be imperilled.
The 15-year retention period is likely to prove highly controversial as it is three times the five years allowed for in the EU’s PNR (passenger name record) regime to cover flights into, out of and Read more…
Stimulus law will cost $43 billion more than estimated
The Congressional Budget Office said in a new report that President Obama’s economic stimulus law will raise the federal deficit $830 billion over ten years, $43 billion more than the initially estimated cost of $787 billion.
During the law’s consideration in Congress, the Joint Committee on Taxation made the initial estimate.
CBO estimated the law lowered the unemployment rate by between .6 and 1.8 percent in the first quarter of 2011 and increased the number of people employed by between 1.2 million and 3.3 million during that same period.
Obama and congressional Democrats enacted the law, arguing it would provide a quick jolt to the economy. Republicans opposed the law, saying it would increase deficits and wasn’t designed to work quickly.
CBO estimated the government spending in the law had a major impact on the economy, increasing the Gross National Product by as much as 4.6 percent in the second quarter of 2010.
However, the unemployment rate has continued to remain high since 2009, hurting Obama politically.
CBO based its estimate on macroeconomic modelling, saying the jobs “created or saved” reports by recipients of stimulus dollars could not provide a full picture of the economic impact.
Gates: Cutting Defense Means More ‘Risk,’ Fewer Missions
Robert Gates’ final defense policy speech in Washington turned out to be a challenge to his boss. President Obama has a goal of cutting $400 billion out of the Pentagon budget over the next 12 years. To do that, Gates says, the armed forces are going to have to stop taking on certain roles — and the country is going to have to accept the “additional risk” that comes from a pared-back military.
You see, Gates already killed the Army’s gazillion-dollar Future Combat Systems and the Marines’ “swimming tank” troop transporter. He stopped the production lines for the F-22 Raptor stealth jets. Then he and the services wrang out another $78 billion over four years for future spending.
The result? All the “low hanging fruit” in the defense budget have “not only been plucked, they Read more…
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