Come on people, get a clue... It doesn't matter one iota. The difference between these two is minuscule and they are both being groomed/have agendas set by TPTB.
Regardless of how idealistic their vision or what empty promise they sell you, these two are both raking in ~ $50 MILLION a MONTH in campaign contributions. Do you think it's the little guys who are funding this?
HELLO???
The little folk are concerned with keeping jobs and homes; putting gas in the car and food on the table - they're too damned broke to donate sums like this (over a $ BILLION dollars this year - just for these two candidates).
Ultimately, one of these two will owe a lot of favors when elected...
Please do yourself a favor: read the following quote from 1934 and then think long and hard about the words and how they apply to our lives in the US today:
"Capital must protect itself in every way...Debts must be collected and loans and mortgages foreclosed as soon as possible. When through a process of law the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law applied by the central power of leading financiers. People without homes will not quarrel with their leaders. This is well known among our principal men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd." -- Taken from the Civil Servants' Year Book, "The Organizer" January 1934.
What do you think they mean by "dividing the people"? How about: "expending energies fighting over questions of no importance"?
I suggest you just turn on the daily TV election news and the answer to these questions will slap you right across the face.
Bottom line:
There is no difference between these two... They are not in control of their own destiny and their strings are and will continue to be pulled by other forces/controls. The powers that be want us to think that somehow our vote can make a REAL difference in the world, yet we are merely dividing our energies over two people who are both bought and paid for - by the same folks.
Think about it.
Showing posts sorted by relevance for query obama or mccain. Sort by date Show all posts
Showing posts sorted by relevance for query obama or mccain. Sort by date Show all posts
Saturday, October 11, 2008
Sunday, November 02, 2008
Why voting in the US elections is A COMPLETE WASTE OF TIME ...
On Oct 11th, I penned a quick piece Obama or McCain? Doesn't matter! explaining how the powers that be (TPTB) 1) want us to believe that our vote really counts and 2) want us to believe that our candidate's policies will make a difference, when in fact TPTB are merely dividing the peoples energies/votes between two peas of the same pod - TPTB win either way and we continue to believe in our facade of a democratic process. HA!
With that said, I just read a better explanation that I'd like to share with you:
Why voting in the US elections is A COMPLETE WASTE OF TIME... by Clive Maund
The United States likes to portray itself as the bastion of freedom and champion of democracy, but if this were really true then there would be at least 6 or 8 different parties to choose from at election time, and given that it is now a country of over 300 million people a choice of at least 10 different parties would be more appropriate, but instead there are just two. Why is this? The reason comes down to the "concentration of power" issue that we addressed in an earlier article with respect to corporate American and the systematic disenfranchisement of its population. The reality is that the two remaining political parties, the Democratic and Republican parties are in fact one, and the only reason that the ultimate step is never taken and the parties merged is that with one party to vote for and an election being completely superfluous, even Joe Sixpack would realize that he is living in a dictatership. So the 2 remaining parties continue to dumbbell around each other for ever, maintaining the thinnest facade of democracy, and controlling the country for their elitist masters via their duopoly of power.
Continued here: http://www.safehaven.com/article-11727.htm
With that said, I just read a better explanation that I'd like to share with you:
Why voting in the US elections is A COMPLETE WASTE OF TIME... by Clive Maund
The United States likes to portray itself as the bastion of freedom and champion of democracy, but if this were really true then there would be at least 6 or 8 different parties to choose from at election time, and given that it is now a country of over 300 million people a choice of at least 10 different parties would be more appropriate, but instead there are just two. Why is this? The reason comes down to the "concentration of power" issue that we addressed in an earlier article with respect to corporate American and the systematic disenfranchisement of its population. The reality is that the two remaining political parties, the Democratic and Republican parties are in fact one, and the only reason that the ultimate step is never taken and the parties merged is that with one party to vote for and an election being completely superfluous, even Joe Sixpack would realize that he is living in a dictatership. So the 2 remaining parties continue to dumbbell around each other for ever, maintaining the thinnest facade of democracy, and controlling the country for their elitist masters via their duopoly of power.
Continued here: http://www.safehaven.com/article-11727.htm
Tuesday, October 28, 2008
Las Vegas Economic Roundup
Tourism is down and gaming revenue continues to fall - driving unemployment rates significantly higher across the valley - leading to more foreclosures and driving state legislators to substantial budget cuts. Yes, the dominos are falling!
Las Vegas Airline Woes:
Traffic at Las Vegas's McCarran International Airport falls again
The number of people flying to and from Las Vegas fell 13.2 percent in September to 3.37 million, the largest year-over-year decline since the months following Sept. 11, 2001, and the 11th consecutive monthly dip.
It’s another major indicator that the woes of the airline industry, dire economic news and an emerging recession are battering the Southern Nevada economy that blossomed with cheap oil, easy consumer credit and the mistaken notion home and property values were on a non-stop upward trajectory.
Airlines deliver about half of the nearly 40 million people who visit Las Vegas annually. And last month their results were dismal compared to September 2007, which appears now to be near the end of the boom that began when the local economy roared back from the post-Sept. 11 recession.
“As the economy weakens it creates more uncertainty,” Scott Kirby, president of US Airways, said recently during a discussion of the airline’s quarterly earnings.
The uncertainty translated to fewer Las Vegas passengers for nearly all the major carriers at McCarran International Airport.
Non Gaming tourists:
Las Vegas casinos go empty as risk-averse patrons play safe
LAS VEGAS: With just days to go until the US presidential election, financial gloom hangs like a pall over visitors to Las Vegas. Wayland Ferguson, a New Mexico resident in town for a conference, said he had no interest in gambling or splashing out during his trip. “People need to get back to the idea of living on less than they make, not more than they make,” he said, as he stood with friends outside one of Las Vegas’ attractions, a mall modelled after the forum in ancient Rome. “We’ve become a society that lives on credit. We need to increase our savings.”
During the good times, the gaudy neon lights of the famed Las Vegas strip fuel dreams of hitting the jackpot, and even breaking the bank at the casinos. For Justin Pagliarulo, from Georgia, the biggest worry was his retirement fund, which is invested in financial markets through a 401(k) plan. “I’m losing lots of money on my 401(k) right now, so that’s a big concern,” said Pagliarulo, who still found some money for a flutter in the casinos, and visit an upscale show by Cirque du Soleil.
Visitor numbers and gaming revenues on the strip are off by 1.5% and 6.7% respectively in the year to August, and hotels and resorts are having to entice visitors with discounted rooms to keep the roulette wheels spinning.
While visitors are clearly feeling the pinch from the downturn, they are divided over whether Democrat Barack Obama or Republican John McCain is the best pick to get the economy back on track.
“I think whoever gets elected is going to have a real problem,” said McConnell. “And it’s going to take more than four years to get us out of it.”
How bad will it get for many of these very leveraged casino operations?
Are the Las Vegas Strip casinos facing bankruptcy?
Some of the biggest losers on Wall Street are based right here in Las Vegas.
The stock prices of casino companies are tumbling and the company that owns the Venetian is seeing the most dramatic decline of them all.
Last Thursday, the Las Vegas Sands Corporation hit an all-time low - a low of about $8 dollars per share, compared to $148 per share last year.
Experts News 3 has spoken with say Las Vegas in general is a financial house of cards showing some ominous signs of collapse. (Funny, that was the point and name of one of my first Las Vegas posts back in 2006: Las Vegas—A House of Cards Bound to fall
The casino sector has been squeezed harder than other industries as consumers cut back their spending.
The downturn has also hit the Chinese gambling enclave of Macau, where Las Vegas companies like the Sands, Wynn, and MGM-Mirage have spent billions of dollars to remake Macau as Asia's Las Vegas.
But back in the real Las Vegas, the financial risk remains high as tens of thousands of new hotel rooms become ready to open within the next year or two. Unfortunately, the projected level of customer spending may not come along as planned.
"You have Wall Street really turning its back on the Las Vegas Strip," says News 3 financial analyst Steve Budin.
"I think it's definitely possible they (some of the gaming companies) might consider bankruptcy," says Budin.
Anyone want to buy a Mall or three?
High-end Las Vegas Strip malls on the market
What do you get for the person who has everything? How about a shopping mall?
Three of the largest Strip shopping malls in Las Vegas are now up for sale: the Fashion Show Mall, the Grand Canal Shoppes at the Venetian, and the retail shops at the Palazzo
News 3's Jesse Corona says they're not being sold because of low sales numbers, but because of how poorly their parent company is doing.
General Growth Properties (GGP) says of the 20 malls they operate, the Fashion Show, Venetian Grand Canal Shoppes, and the Palazzo are three of their flagship properties. So why are they selling them off?
General Growth Properties has seen their stock plummet 96 percent in the last year, down to about $2 per share. They're also looking at a combined $900 million loan payment on both the Palazzo and Fashion Show Mall, due at the end of November.
But just how well are these malls doing?
Steve Barry sells timeshares at a booth in front of the Fashion Show Mall. He says that foot traffic at the mall is down at least 20 percent.
Barry says his company has had to lay off almost half of their workforce in the last two months and that he personally has a hard time believing that the sales numbers at any mall are higher right now when compared to last year.
The Gaming loss spillover effect?
Closing time coming a lot earlier these days
Businesses forced to reduce hours to cope with economic slowdown
The lights are out already and the door is locked at the LaCabana Mexican Restaurant on Martin Luther King Boulevard.
Only the fading sun provides a peek into the deserted interior. It is well before 6 p.m. on a weeknight, but the once-popular neighborhood spot is among the growing number of businesses opting to cut their losses by cutting their hours.
Limiting business hours is being seen as a Band-Aid to stop the financial bleeding in an economic setting that has already proven to be worse than the previous downturn. The last recession included the aftermath of the Sept. 11, 2001, terrorist attacks and the dot-com collapse. LaCabana owner William Jacobs recently reduced the 17-year-old restaurant's hours of operation by more than 25 percent.
Jacobs was hit especially hard by the economic skid because he also owns the Paradise Lounge next door. The bar's revenue helped to cushion the drop in business at LaCabana for a while, but it is also seeing fewer patrons.
The high-spending construction workers and laborers have vanished, he lamented, leaving the restaurant near Alta Drive to try to survive on new budget-conscious lunch specials.
"We cut off about five hours a day during the week," he said. "We cut the equivalent of three workdays off our schedule." That also meant letting four of his 11 employees go.
Not far from Jacobs' restaurant is a another valley staple, El Sombrero on Main Street. The Las Vegas favorite of three decades once benefited from a resurgent downtown. Nestled on an old industrial stretch, an auto repair shop serves as one of El Sombrero's neighbors. Customers liked the old Vegas feel, however, and would come in until 10 or 11 p.m. Owner Jose Aragon shuts his doors at about 4 p.m. now.
"Oh yes, we barely made it through the year so far," he said.
The El Sombrero owner has cut about a third of his business hours, from being open 64 hours a week two years ago to about 44 today. Aragon kept on just a small staff, now made up of family members. The ghost-town atmosphere after lunch, and his advancing years, made it impractical to keep the doors open late anymore.
Restaurants aren't the only businesses that are turning out the lights earlier or more often these days. The Curves gym at the Las Vegas Beltway and Decatur Boulevard has opted to cut hours in the middle of the day. Owner Bob Ansara said membership was "stagnant" for the past 18 months, except for about six people dropping memberships for undisclosed reasons. One trainer said the sagging economy was a factor.
"We've heard a lot of women, with the economy, were calling up to say they had to drop their memberships," the employee said.
Trainers, also, were asked to accept reduced hours.
The change in Curves' hours -- closing roughly three hours in the middle of each weekday and opening four fewer hours on weekends -- is consistent with the Curves corporate model, Ansara said. He had gone outside the normal hours to see if they would prove profitable. They weren't.
It doesn't surprise economist Keith Schwer that businesses are resorting to reducing hours.
"We know that furniture, autos and home repairs are the first to go, then restaurants," he said. "Gyms also fall into the discretionary category."
Tourism has stumbled, hurting the local economy even more, he said.
"We know in the Las Vegas economy, that people's incomes were less and prices were going up." Schwer said. "Visitor volume is down."
Reduced hours are showing up in more than the "closed" signs on shops' doors. The state of Nevada Department of Employment Training and Rehabilitation is seeing a trend in the rising numbers of unemployment claims. More and more Nevadans are putting in claims for "partial unemployment," said Jered McDonald, a department economist.
Rising Las Vegas Unemployment Rate:
Nevada jobless rate climbs in September (Las Vegas up to 7.4%)
Nevada's unemployment rate rose to 7.3 percent in September, its highest level in 23 years, as more than 102,000 Nevadans were out of work, according to a report released Monday.
The state Department of Employment, Training and Rehabilitation report shows the seasonally adjusted rate was up from 7.1 percent in August—and also shows Nevada above the national jobless rate of 6.1 percent in September.
Bill Anderson, chief economist for the agency, said rates in the state's population centers also increased, led by the Las Vegas area at 7.4 percent, up from 7.1 percent. In the Reno area, the rate hit 6.9 percent in September, up from 6.6 percent in August.
Anderson expects Nevada's statewide rate to get worse, averaging about 8.6 percent for 2009. That means about 120,000 people out of work. He also noted the number of Nevadans filing for unemployment is the highest since shortly after the Sept. 11, 2001, terrorist attacks.
Nevada's economy depends heavily on industries that have been hit hardest by the economic downturn, including housing, construction and tourism. Two massive casino construction projects on the Las Vegas Strip have stalled. The state continues to lead the nation in rates of foreclosure.
The downturn has forced state and local governments to make massive cuts in services, and has some looking for new sources of tax revenue.
Budget cuts and foreclosure rates
Deep budget cuts in Nevada
CARSON CITY, Nev.—Nevada may cut deeper into its budget, on a percentage basis, than any other state in the nation, budget chief Andrew Clinger says.
Clinger attended a National Association of State Budget Officers meeting in Washington, D.C. last week and learned that many of his counterparts around the country were reporting cuts of 5 percent and 6 percent. That's well below the 14 percent to as much as 20 percent that Nevada may have to cut in the coming two-year budget cycle, which starts next July.
The biggest reason for Nevada's budget problem, Clinger said, is a slumping housing market along with a drop in auto sales and high fuel prices, which either kept some tourists from coming to the state or reduced the amount of money they were able to spend once here.
Clinger also said that in the second quarter of 2008, one in 43 households in Nevada got a foreclosure notice. Nevada's rate is now four times the national average and is the highest in the nation. California is in second with a rate of one home in 65 and Arizona third with one in 70.
Nevada saw a total of 24,657 foreclosure filings in the second quarter of 2008. That's up 26 percent from the first quarter of the year and up 147 percent from 2007.
Las Vegas Airline Woes:
Traffic at Las Vegas's McCarran International Airport falls again
The number of people flying to and from Las Vegas fell 13.2 percent in September to 3.37 million, the largest year-over-year decline since the months following Sept. 11, 2001, and the 11th consecutive monthly dip.
It’s another major indicator that the woes of the airline industry, dire economic news and an emerging recession are battering the Southern Nevada economy that blossomed with cheap oil, easy consumer credit and the mistaken notion home and property values were on a non-stop upward trajectory.
Airlines deliver about half of the nearly 40 million people who visit Las Vegas annually. And last month their results were dismal compared to September 2007, which appears now to be near the end of the boom that began when the local economy roared back from the post-Sept. 11 recession.
“As the economy weakens it creates more uncertainty,” Scott Kirby, president of US Airways, said recently during a discussion of the airline’s quarterly earnings.
The uncertainty translated to fewer Las Vegas passengers for nearly all the major carriers at McCarran International Airport.
Non Gaming tourists:
Las Vegas casinos go empty as risk-averse patrons play safe
LAS VEGAS: With just days to go until the US presidential election, financial gloom hangs like a pall over visitors to Las Vegas. Wayland Ferguson, a New Mexico resident in town for a conference, said he had no interest in gambling or splashing out during his trip. “People need to get back to the idea of living on less than they make, not more than they make,” he said, as he stood with friends outside one of Las Vegas’ attractions, a mall modelled after the forum in ancient Rome. “We’ve become a society that lives on credit. We need to increase our savings.”
During the good times, the gaudy neon lights of the famed Las Vegas strip fuel dreams of hitting the jackpot, and even breaking the bank at the casinos. For Justin Pagliarulo, from Georgia, the biggest worry was his retirement fund, which is invested in financial markets through a 401(k) plan. “I’m losing lots of money on my 401(k) right now, so that’s a big concern,” said Pagliarulo, who still found some money for a flutter in the casinos, and visit an upscale show by Cirque du Soleil.
Visitor numbers and gaming revenues on the strip are off by 1.5% and 6.7% respectively in the year to August, and hotels and resorts are having to entice visitors with discounted rooms to keep the roulette wheels spinning.
While visitors are clearly feeling the pinch from the downturn, they are divided over whether Democrat Barack Obama or Republican John McCain is the best pick to get the economy back on track.
“I think whoever gets elected is going to have a real problem,” said McConnell. “And it’s going to take more than four years to get us out of it.”
How bad will it get for many of these very leveraged casino operations?
Are the Las Vegas Strip casinos facing bankruptcy?
Some of the biggest losers on Wall Street are based right here in Las Vegas.
The stock prices of casino companies are tumbling and the company that owns the Venetian is seeing the most dramatic decline of them all.
Last Thursday, the Las Vegas Sands Corporation hit an all-time low - a low of about $8 dollars per share, compared to $148 per share last year.
Experts News 3 has spoken with say Las Vegas in general is a financial house of cards showing some ominous signs of collapse. (Funny, that was the point and name of one of my first Las Vegas posts back in 2006: Las Vegas—A House of Cards Bound to fall
The casino sector has been squeezed harder than other industries as consumers cut back their spending.
The downturn has also hit the Chinese gambling enclave of Macau, where Las Vegas companies like the Sands, Wynn, and MGM-Mirage have spent billions of dollars to remake Macau as Asia's Las Vegas.
But back in the real Las Vegas, the financial risk remains high as tens of thousands of new hotel rooms become ready to open within the next year or two. Unfortunately, the projected level of customer spending may not come along as planned.
"You have Wall Street really turning its back on the Las Vegas Strip," says News 3 financial analyst Steve Budin.
"I think it's definitely possible they (some of the gaming companies) might consider bankruptcy," says Budin.
Anyone want to buy a Mall or three?
High-end Las Vegas Strip malls on the market
What do you get for the person who has everything? How about a shopping mall?
Three of the largest Strip shopping malls in Las Vegas are now up for sale: the Fashion Show Mall, the Grand Canal Shoppes at the Venetian, and the retail shops at the Palazzo
News 3's Jesse Corona says they're not being sold because of low sales numbers, but because of how poorly their parent company is doing.
General Growth Properties (GGP) says of the 20 malls they operate, the Fashion Show, Venetian Grand Canal Shoppes, and the Palazzo are three of their flagship properties. So why are they selling them off?
General Growth Properties has seen their stock plummet 96 percent in the last year, down to about $2 per share. They're also looking at a combined $900 million loan payment on both the Palazzo and Fashion Show Mall, due at the end of November.
But just how well are these malls doing?
Steve Barry sells timeshares at a booth in front of the Fashion Show Mall. He says that foot traffic at the mall is down at least 20 percent.
Barry says his company has had to lay off almost half of their workforce in the last two months and that he personally has a hard time believing that the sales numbers at any mall are higher right now when compared to last year.
The Gaming loss spillover effect?
Closing time coming a lot earlier these days
Businesses forced to reduce hours to cope with economic slowdown
The lights are out already and the door is locked at the LaCabana Mexican Restaurant on Martin Luther King Boulevard.
Only the fading sun provides a peek into the deserted interior. It is well before 6 p.m. on a weeknight, but the once-popular neighborhood spot is among the growing number of businesses opting to cut their losses by cutting their hours.
Limiting business hours is being seen as a Band-Aid to stop the financial bleeding in an economic setting that has already proven to be worse than the previous downturn. The last recession included the aftermath of the Sept. 11, 2001, terrorist attacks and the dot-com collapse. LaCabana owner William Jacobs recently reduced the 17-year-old restaurant's hours of operation by more than 25 percent.
Jacobs was hit especially hard by the economic skid because he also owns the Paradise Lounge next door. The bar's revenue helped to cushion the drop in business at LaCabana for a while, but it is also seeing fewer patrons.
The high-spending construction workers and laborers have vanished, he lamented, leaving the restaurant near Alta Drive to try to survive on new budget-conscious lunch specials.
"We cut off about five hours a day during the week," he said. "We cut the equivalent of three workdays off our schedule." That also meant letting four of his 11 employees go.
Not far from Jacobs' restaurant is a another valley staple, El Sombrero on Main Street. The Las Vegas favorite of three decades once benefited from a resurgent downtown. Nestled on an old industrial stretch, an auto repair shop serves as one of El Sombrero's neighbors. Customers liked the old Vegas feel, however, and would come in until 10 or 11 p.m. Owner Jose Aragon shuts his doors at about 4 p.m. now.
"Oh yes, we barely made it through the year so far," he said.
The El Sombrero owner has cut about a third of his business hours, from being open 64 hours a week two years ago to about 44 today. Aragon kept on just a small staff, now made up of family members. The ghost-town atmosphere after lunch, and his advancing years, made it impractical to keep the doors open late anymore.
Restaurants aren't the only businesses that are turning out the lights earlier or more often these days. The Curves gym at the Las Vegas Beltway and Decatur Boulevard has opted to cut hours in the middle of the day. Owner Bob Ansara said membership was "stagnant" for the past 18 months, except for about six people dropping memberships for undisclosed reasons. One trainer said the sagging economy was a factor.
"We've heard a lot of women, with the economy, were calling up to say they had to drop their memberships," the employee said.
Trainers, also, were asked to accept reduced hours.
The change in Curves' hours -- closing roughly three hours in the middle of each weekday and opening four fewer hours on weekends -- is consistent with the Curves corporate model, Ansara said. He had gone outside the normal hours to see if they would prove profitable. They weren't.
It doesn't surprise economist Keith Schwer that businesses are resorting to reducing hours.
"We know that furniture, autos and home repairs are the first to go, then restaurants," he said. "Gyms also fall into the discretionary category."
Tourism has stumbled, hurting the local economy even more, he said.
"We know in the Las Vegas economy, that people's incomes were less and prices were going up." Schwer said. "Visitor volume is down."
Reduced hours are showing up in more than the "closed" signs on shops' doors. The state of Nevada Department of Employment Training and Rehabilitation is seeing a trend in the rising numbers of unemployment claims. More and more Nevadans are putting in claims for "partial unemployment," said Jered McDonald, a department economist.
Rising Las Vegas Unemployment Rate:
Nevada jobless rate climbs in September (Las Vegas up to 7.4%)
Nevada's unemployment rate rose to 7.3 percent in September, its highest level in 23 years, as more than 102,000 Nevadans were out of work, according to a report released Monday.
The state Department of Employment, Training and Rehabilitation report shows the seasonally adjusted rate was up from 7.1 percent in August—and also shows Nevada above the national jobless rate of 6.1 percent in September.
Bill Anderson, chief economist for the agency, said rates in the state's population centers also increased, led by the Las Vegas area at 7.4 percent, up from 7.1 percent. In the Reno area, the rate hit 6.9 percent in September, up from 6.6 percent in August.
Anderson expects Nevada's statewide rate to get worse, averaging about 8.6 percent for 2009. That means about 120,000 people out of work. He also noted the number of Nevadans filing for unemployment is the highest since shortly after the Sept. 11, 2001, terrorist attacks.
Nevada's economy depends heavily on industries that have been hit hardest by the economic downturn, including housing, construction and tourism. Two massive casino construction projects on the Las Vegas Strip have stalled. The state continues to lead the nation in rates of foreclosure.
The downturn has forced state and local governments to make massive cuts in services, and has some looking for new sources of tax revenue.
Budget cuts and foreclosure rates
Deep budget cuts in Nevada
CARSON CITY, Nev.—Nevada may cut deeper into its budget, on a percentage basis, than any other state in the nation, budget chief Andrew Clinger says.
Clinger attended a National Association of State Budget Officers meeting in Washington, D.C. last week and learned that many of his counterparts around the country were reporting cuts of 5 percent and 6 percent. That's well below the 14 percent to as much as 20 percent that Nevada may have to cut in the coming two-year budget cycle, which starts next July.
The biggest reason for Nevada's budget problem, Clinger said, is a slumping housing market along with a drop in auto sales and high fuel prices, which either kept some tourists from coming to the state or reduced the amount of money they were able to spend once here.
Clinger also said that in the second quarter of 2008, one in 43 households in Nevada got a foreclosure notice. Nevada's rate is now four times the national average and is the highest in the nation. California is in second with a rate of one home in 65 and Arizona third with one in 70.
Nevada saw a total of 24,657 foreclosure filings in the second quarter of 2008. That's up 26 percent from the first quarter of the year and up 147 percent from 2007.
Monday, April 21, 2008
Death of a Dream
I just read a great article that needs to be shared. Though quite unconventional and slightly radical in his rant, Roger Mason makes many very good points and I rather enjoyed his writing style/perspective... However, if his timeline and conclusions are correct (which I have some reservations about), we are in far worse trouble than even I envisioned. Enjoy!
Death of a Dream
After 232 years the American Dream is over folks. In the 1780's Alexander Tyler wrote, "A democracy is always temporary in nature lasting on average 225 years and cannot exist as a permanent form of government." The U.S. Constitution and Bill of Rights have been gutted. We almost elected an openly Marxist lesbian as our President and Commander in Chief. Obama Osama is to the left of Hillary, if you can comprehend that. McCain is dying of jaw cancer as if that isn't obvious. 1 in 10 American adults, children, and infants are on food stamps. One in six are government employees. The housing crash is just warming up! 59% of homes for sale in Los Angeles are fore-closures. They are selling for 50 cents on the dollar at auction. Adjusted for inflation since 2005 it is a quarter on the dollar. The dollar is useless. Our trade and budget deficits are egregious. The DJI is ready to collapse down to 5,000 ultimately. The DJT and DJU are hopeless. Dow Theory is telling us the house of cards is about to fall. Illegal immigration is completely out of control, and McCain will open the border gates even wider. Real unemployment is 14%, and real inflation is 18%. Four major airlines just went bankrupt- ATA, Skybus, Frontier, and Aloha (ATA was once the 10th largest). Alan Greenspan just publically admitted we're in a recession. We've been in one for months, and 70% of Americans know that. Gordon Brown (England's Prime Minister) just said we face the greatest economic crisis of the century. George Soros said the economic situation is hopeless. Warren Buffet basically said the same thing. Only 10% of our jobs are in manufacturing. We're now a mere service economy. We are closer to the Much Greater Depression every day.
Real inflation is now up to 18% as proven by configured M3 figures (which the government refuses to print anymore). See www.shadowstats.com if you want to verify that. Has your salary gone up 18%? Your home? Your private or government pension? Your Social Insecurity? Of course not. Your wealth has to go up 18% a year now just to break even! Let's take a prime example: General Electric (GE) was $28 five years ago.
Estimating 10% real inflation over that time GE stock would have to go up ($31, $34, $37, $41, $45) to $45 just to break even. It is $32 now, so it is DOWN 30% in the last five year. The real purchasing power is down almost a third in only five years.
What can you do? Put every penny you have into silver. If you can't convert your IRA/401k to American silver stocks then dump it. Take the 40% hit, and put the 60% into silver. There is a severe shortage of silver bullion, but you can still buy it at Gaithersburg Coin in Maryland. There has never been a silver shortage in the history of the world until now. Soon we will be completely out of silver, and mine supply (and recycling) will not begin to cover the shortage. Silver will go to $200 an ounce and probably keep going. Gold should merely go to $3,000.
Look for $30 silver by Christmas. In addition to Quaterra, Silverstone, Impact, U.S. Silver, ECU, Fury, Endeavor, and First Majestic, we're going to add Genco today (we don't own this). There are only about 50 real silver mines in the world, and only maybe a dozen are worth buying. You must hold any bullion in your own personal physical possession. You cannot own ETF's, silver certificates, or other paper silver. You cannot let anyone store it for you. If you don't possess it, you don't own it. The $4 correction from $21 to $17 makes this a strong market which is now blue skies all the way to $30. Silver has far, far more potential than gold, and cannot be confiscated.
With Admiral Fallon out of the way, our illegal, immoral, insane, unethical attack on Iran looms closer. McCain and Petraeus won't shut up about the "danger" Iran poses to us. We have already attacked the Iranian banks with FinCEN. The Saudis are preparing for it. The Russians have detected American military buildup on the Iran border. Our war- ships are in the Persian Gulf. We have a record number of troops in Afghanistan. Syria is preparing for an attack by the U.S. CNBC, CNN, and the media constantly beat the Iran-ian war drum. An attack on Iran is going to end in disaster in many, many ways. Go to www.vdare.com and read Paul Craig Roberts about this. No more oil will be just one of the results. Gasoline and diesel are now $10 in Europe, and soon will be $10 here. Can you say "$10 gasoline"? Truckers are already starting to strike to stop federal and state diesel taxes for trucks. They are going to have a nationwide strike as they can't feed their families. American moves by truck. A trucking strike will freeze this country. Suspend-ing all commercial diesel fuel taxes would be good for this country. Support the truckers, unless you want the economy to grind to a halt overnight.
CNBC is the official government disinformation center, and Jim Cramer the Emperor of Disinformation. Watch his show to see what NOT to do. Whatever he tells you to buy, you sell it. Notice that Cramer missed the move in gold from $300 to $1,000, and the move in silver from $5 to $20. He still ignores both gold and silver, while he tells you to invest in the house-of-cards stock market. Do the opposite of anything he says. The DJI to gold ratio used to be 1:1 in 1980, but went to 45:1 in 2000. It is now 13:1 (12,300: $930) and headed back to 1:1.
Have you noticed your local shopping mall is going under? Have you noticed how many empty stores there are in your local strip malls? The Big Three Auto Makers are all broke. The entire banking system is bankrupt. The fifth largest bank in the world, Bear Stearns, is bankrupt. Citibank, Wells Fargo, Lehman, Bank of America are all next. Wachovia, the fourth largest, is about to go under as well. Open your eyes! Nothing like this has happened in almost 80 years since the last depression. You don't need to be a psychic to see the future; just look closely at today. The bailout (at YOUR expense) will just make things worse. The entire world banking system is coming unglued with the DERIVATIVES unraveling. Now the Federal Reserve is going to take over our entire investment system, nationalize the banks, and make Russia look like a free country. After the Federal Reserve was formed in 1913 the dollar has lost 99% of it's value. That's right- the Fed has made the dollar worth a penny in 95 years. Countless major chains are going under every day. The Top 10 Home Builders are completely and totally done in. The budget deficit worsens every day. The national debt gets deeper. The trade deficit worsens. We can't even sell T-Bills and T-Bonds to the fools who were buying them. The U.S. dollar is Monopoly Money. Inflation is destroying the middle class here- the very bedrock of America. We used to have the cheapest most plentiful food supply on earth bar none. No longer. Seen $1.19 lemons lately? Watch beef become unaffordable by the end of the year like in socialistic Europe. Restaurants are going broke. Hotels are going broke. Most everyone is going broke.
The energy crisis is a lie; we have endless energy available now. Global warming is complete scam. Ethanol is a government funded scam- at your expense. Coal, natural gas, and uranium are plentiful, and will last for hundreds of years. The military has enough oil off the coast of Alaska for 100 years. We don't even have any oil refineries now. Oil is useless without refineries. Windmills for power is a joke out of the 18th century. Hydrogen fuel cells are a long, long way off in the future. Hydroelectric is limited. We have no SASOL plants in the U.S. to make endless $4 liquid fuel out of coal. 60% of all our energy is ELECTRIC, and we can generate all we want with coal, natural gas, and uranium.
If you think things are bad now, by Christmas you'll be ready to jump off a bridge. 2009 to 2010 will usher in the Much Greater Depression, and events will unfold so quickly you'll be shocked and blindsided. We'll get Patriot Act II for finances. Banks will be nationalized as all police states do. Food and gasoline will be rationed. You'll think you're in Cuba, only you won't have bananas. There are already worldwide food riots. People around the world cannot cannot even get rice to eat. The housing crash is just beginning, along with the stock market collapse. It's just getting warmed up folks.
Your salary, your house, your pension, your Social Insecurity, the stock market all have to go up 18% just to break even! That's just to break even and not lose. Are they all going up 18% or more? Of course they aren't, and your standard of living is going to hell every day- as is your future. Silver is $18, and will be $30 by the end of the year. Silver is your financial saviour. Silver has almost quadrupled in the last five years. Silver is going to $200 an ounce in the next five years. Silver is a much better investment than gold, and gold is a great investment.
So many major longtime companies and chains are closing stores and going out of business you can't name them all. Sharper Image, Wilson's Leather, Pep Boys, Comp USA, Ethan Allen, Macy's, Levitz, PacSun, Lane Bryant, Talbots, Krispy Kreme, Starbucks, Harley Davidson, 84 Lumber, Home Depot, RentACenter, Rite Aid, Sprint, Disney Store, and Linen'n'Things are just SOME of them. The list gets longer every month.
If you want to read more go to http://www.kitco.com/ and read the Contributed Commentaries.
Go to http://www.butlerresearch.com/ to see what Ted Butler has to say about silver.
Join GATA at http://www.lemetropolecafe.com./You can get a two week free trial and it's $199 a year.
Or you can just read the Econmic Rants twice a month for free. Soon the website http://www.economicrant.com/ will open. Free of course.
Now go out and buy all the silver you can!
Click here for Roger's Past Monthly Rants
Death of a Dream
After 232 years the American Dream is over folks. In the 1780's Alexander Tyler wrote, "A democracy is always temporary in nature lasting on average 225 years and cannot exist as a permanent form of government." The U.S. Constitution and Bill of Rights have been gutted. We almost elected an openly Marxist lesbian as our President and Commander in Chief. Obama Osama is to the left of Hillary, if you can comprehend that. McCain is dying of jaw cancer as if that isn't obvious. 1 in 10 American adults, children, and infants are on food stamps. One in six are government employees. The housing crash is just warming up! 59% of homes for sale in Los Angeles are fore-closures. They are selling for 50 cents on the dollar at auction. Adjusted for inflation since 2005 it is a quarter on the dollar. The dollar is useless. Our trade and budget deficits are egregious. The DJI is ready to collapse down to 5,000 ultimately. The DJT and DJU are hopeless. Dow Theory is telling us the house of cards is about to fall. Illegal immigration is completely out of control, and McCain will open the border gates even wider. Real unemployment is 14%, and real inflation is 18%. Four major airlines just went bankrupt- ATA, Skybus, Frontier, and Aloha (ATA was once the 10th largest). Alan Greenspan just publically admitted we're in a recession. We've been in one for months, and 70% of Americans know that. Gordon Brown (England's Prime Minister) just said we face the greatest economic crisis of the century. George Soros said the economic situation is hopeless. Warren Buffet basically said the same thing. Only 10% of our jobs are in manufacturing. We're now a mere service economy. We are closer to the Much Greater Depression every day.
Real inflation is now up to 18% as proven by configured M3 figures (which the government refuses to print anymore). See www.shadowstats.com if you want to verify that. Has your salary gone up 18%? Your home? Your private or government pension? Your Social Insecurity? Of course not. Your wealth has to go up 18% a year now just to break even! Let's take a prime example: General Electric (GE) was $28 five years ago.
Estimating 10% real inflation over that time GE stock would have to go up ($31, $34, $37, $41, $45) to $45 just to break even. It is $32 now, so it is DOWN 30% in the last five year. The real purchasing power is down almost a third in only five years.
What can you do? Put every penny you have into silver. If you can't convert your IRA/401k to American silver stocks then dump it. Take the 40% hit, and put the 60% into silver. There is a severe shortage of silver bullion, but you can still buy it at Gaithersburg Coin in Maryland. There has never been a silver shortage in the history of the world until now. Soon we will be completely out of silver, and mine supply (and recycling) will not begin to cover the shortage. Silver will go to $200 an ounce and probably keep going. Gold should merely go to $3,000.
Look for $30 silver by Christmas. In addition to Quaterra, Silverstone, Impact, U.S. Silver, ECU, Fury, Endeavor, and First Majestic, we're going to add Genco today (we don't own this). There are only about 50 real silver mines in the world, and only maybe a dozen are worth buying. You must hold any bullion in your own personal physical possession. You cannot own ETF's, silver certificates, or other paper silver. You cannot let anyone store it for you. If you don't possess it, you don't own it. The $4 correction from $21 to $17 makes this a strong market which is now blue skies all the way to $30. Silver has far, far more potential than gold, and cannot be confiscated.
With Admiral Fallon out of the way, our illegal, immoral, insane, unethical attack on Iran looms closer. McCain and Petraeus won't shut up about the "danger" Iran poses to us. We have already attacked the Iranian banks with FinCEN. The Saudis are preparing for it. The Russians have detected American military buildup on the Iran border. Our war- ships are in the Persian Gulf. We have a record number of troops in Afghanistan. Syria is preparing for an attack by the U.S. CNBC, CNN, and the media constantly beat the Iran-ian war drum. An attack on Iran is going to end in disaster in many, many ways. Go to www.vdare.com and read Paul Craig Roberts about this. No more oil will be just one of the results. Gasoline and diesel are now $10 in Europe, and soon will be $10 here. Can you say "$10 gasoline"? Truckers are already starting to strike to stop federal and state diesel taxes for trucks. They are going to have a nationwide strike as they can't feed their families. American moves by truck. A trucking strike will freeze this country. Suspend-ing all commercial diesel fuel taxes would be good for this country. Support the truckers, unless you want the economy to grind to a halt overnight.
CNBC is the official government disinformation center, and Jim Cramer the Emperor of Disinformation. Watch his show to see what NOT to do. Whatever he tells you to buy, you sell it. Notice that Cramer missed the move in gold from $300 to $1,000, and the move in silver from $5 to $20. He still ignores both gold and silver, while he tells you to invest in the house-of-cards stock market. Do the opposite of anything he says. The DJI to gold ratio used to be 1:1 in 1980, but went to 45:1 in 2000. It is now 13:1 (12,300: $930) and headed back to 1:1.
Have you noticed your local shopping mall is going under? Have you noticed how many empty stores there are in your local strip malls? The Big Three Auto Makers are all broke. The entire banking system is bankrupt. The fifth largest bank in the world, Bear Stearns, is bankrupt. Citibank, Wells Fargo, Lehman, Bank of America are all next. Wachovia, the fourth largest, is about to go under as well. Open your eyes! Nothing like this has happened in almost 80 years since the last depression. You don't need to be a psychic to see the future; just look closely at today. The bailout (at YOUR expense) will just make things worse. The entire world banking system is coming unglued with the DERIVATIVES unraveling. Now the Federal Reserve is going to take over our entire investment system, nationalize the banks, and make Russia look like a free country. After the Federal Reserve was formed in 1913 the dollar has lost 99% of it's value. That's right- the Fed has made the dollar worth a penny in 95 years. Countless major chains are going under every day. The Top 10 Home Builders are completely and totally done in. The budget deficit worsens every day. The national debt gets deeper. The trade deficit worsens. We can't even sell T-Bills and T-Bonds to the fools who were buying them. The U.S. dollar is Monopoly Money. Inflation is destroying the middle class here- the very bedrock of America. We used to have the cheapest most plentiful food supply on earth bar none. No longer. Seen $1.19 lemons lately? Watch beef become unaffordable by the end of the year like in socialistic Europe. Restaurants are going broke. Hotels are going broke. Most everyone is going broke.
The energy crisis is a lie; we have endless energy available now. Global warming is complete scam. Ethanol is a government funded scam- at your expense. Coal, natural gas, and uranium are plentiful, and will last for hundreds of years. The military has enough oil off the coast of Alaska for 100 years. We don't even have any oil refineries now. Oil is useless without refineries. Windmills for power is a joke out of the 18th century. Hydrogen fuel cells are a long, long way off in the future. Hydroelectric is limited. We have no SASOL plants in the U.S. to make endless $4 liquid fuel out of coal. 60% of all our energy is ELECTRIC, and we can generate all we want with coal, natural gas, and uranium.
If you think things are bad now, by Christmas you'll be ready to jump off a bridge. 2009 to 2010 will usher in the Much Greater Depression, and events will unfold so quickly you'll be shocked and blindsided. We'll get Patriot Act II for finances. Banks will be nationalized as all police states do. Food and gasoline will be rationed. You'll think you're in Cuba, only you won't have bananas. There are already worldwide food riots. People around the world cannot cannot even get rice to eat. The housing crash is just beginning, along with the stock market collapse. It's just getting warmed up folks.
Your salary, your house, your pension, your Social Insecurity, the stock market all have to go up 18% just to break even! That's just to break even and not lose. Are they all going up 18% or more? Of course they aren't, and your standard of living is going to hell every day- as is your future. Silver is $18, and will be $30 by the end of the year. Silver is your financial saviour. Silver has almost quadrupled in the last five years. Silver is going to $200 an ounce in the next five years. Silver is a much better investment than gold, and gold is a great investment.
So many major longtime companies and chains are closing stores and going out of business you can't name them all. Sharper Image, Wilson's Leather, Pep Boys, Comp USA, Ethan Allen, Macy's, Levitz, PacSun, Lane Bryant, Talbots, Krispy Kreme, Starbucks, Harley Davidson, 84 Lumber, Home Depot, RentACenter, Rite Aid, Sprint, Disney Store, and Linen'n'Things are just SOME of them. The list gets longer every month.
If you want to read more go to http://www.kitco.com/ and read the Contributed Commentaries.
Go to http://www.butlerresearch.com/ to see what Ted Butler has to say about silver.
Join GATA at http://www.lemetropolecafe.com./You can get a two week free trial and it's $199 a year.
Or you can just read the Econmic Rants twice a month for free. Soon the website http://www.economicrant.com/ will open. Free of course.
Now go out and buy all the silver you can!
Click here for Roger's Past Monthly Rants
Sunday, September 28, 2008
Social Consequences of an economic meltdown?
Back in Jan 08, I pondered aloud several questions related to the potential Social Implications of (what was then) a looming economic crisis. Turns out, many readers were wondering the same and this was one of my highest traffic posts ever.
If you haven't already done so, read the info at the following link then come back to read the rest of this post.
SOCIAL IMPLICATIONS of a SIGNIFICANT ECONOMIC DOWNTURN
Well, nine months have passed since those words were written and there can now be no doubt (1) that this crisis is one of the most significant economic downturns in history and (2) the Massive bailout package being worked is just a bandaid to slow the controlled financial implosion. Even John McCain realizes this and recently stated in his debate with Obama: "This is not the beginning of the end, but the end of the beginning - if we come out with a package that will keep these institutions stable..
With that digested and the knowledge things are likely to get far worse, what can we anticipate for our future - just how bad could things get for the little guy living in the suburbs - trying to raise a family?
I'll refrain from trying to list all possible consequences, as there are far too many potential outcomes, but I would like to highlight several major consequences that could be initiated by a worst-case financial panic...
Note: I'm not trying to scare anyone here, but merely trying to create an awareness and food for thought - so that you can use the information to better prepare your family (in the event the worse-case scenario actually happens).
Let us hypothetically propose the economic crisis intensifies:
Hundreds more banks/financial institutions implode and the FDIC runs out of money - a nationwide run on the banks ensue; consumer credit has consistently gotten worse and available credit-card credit-lines have finally been turned off/reeled in - unemployment skyrockets due to the lack of new credit/spending; inflation rages as the dollar falls sharply; the economic crisis deepens and trillions in unpayable derivative contracts unwind quickly - stock markets collapse around the globe and the crushing pressure is exacerbated by foreign holders of US Debt who finally rush to the exit doors.
The Gvt panics and Stock Markets are closed indefinitely while ATM machines, banks and electronic commerce are shut down across the nation (as the government tries to figure out what to do). People grow anxious as their credit cards and debit cards don't work, and with no cash on hand, they can't buy food or gas... Those who do have cash rush to fill up their gas tanks and empty the shelves at their local grocery stores. The real economy comes to a screeching halt as deliveries of food, gas, etc can no longer make it to market.
Social unrest and general panic set in as our just-in-time economy breaks down. People are confused and scared while the government repetitively tries to reassure that they have everything under control. Hysteria eventually sets in as social chaos, looting, and roving gangs terrorize the masses (taking what they need from the unprepared). Similar situations take place across the nation as people who were on the fringes of society become hungry/desperate and/or take advantage of the lawless situation.
Martial law is ultimately declared and National Guard troops are deployed to major cities around the nation - to help restore order, distribute food, etc.
So many unknowns
Could this actually happen? I don't know - you be the judge; but it's probably better to be a prepared alarmist than an unprepared victim... Think about it.
If you've watched Paulson, Bernanke, Bush and the rest of our worried leaders over the last couple of week, you've probably been able to sense their state of alarm - Yes, they truly realize how big this crisis is...
What can you do to prepare?
I could list a thousand things here from generators, flashlights, etc, but the most important (I believe) are:
1) Have at LEAST a couple of weeks worth of non-perishable food/water on hand
2) Have enough cash on hand to make it through a possible electronic commerce shutdown
3) Maintain close relationships with friends/neighbors (help each other out)
4) If you have a gun, know how to use it - to protect your family, friends and valuable assets (cash/food).
Closing:
Yes folks this could be bad, but we Americans are an industrious/resolute bunch and (though it will take some time) we will find a way to pull out of it.
However, be aware: regardless of the ultimate significance of this downturn, America is likely to forever change as the US Dollar loses it's reserve currency status in the not too distant future.
At a MINIMUM, this economic crisis will cause our standard of living to fall and our cost of living to increase significantly.
Bottom Line:
Our future is uncertain, and we're definitely in for some difficult times ahead, but the world will NOT end - and we will survive.
Again, this post was no meant to scare, but to inform by thinking outside the mainstream box. Use this information as you may, but it's probably not a bad idea to prepare for whatever the outcome.
Best regards
Randy
If you haven't already done so, read the info at the following link then come back to read the rest of this post.
SOCIAL IMPLICATIONS of a SIGNIFICANT ECONOMIC DOWNTURN
Well, nine months have passed since those words were written and there can now be no doubt (1) that this crisis is one of the most significant economic downturns in history and (2) the Massive bailout package being worked is just a bandaid to slow the controlled financial implosion. Even John McCain realizes this and recently stated in his debate with Obama: "This is not the beginning of the end, but the end of the beginning - if we come out with a package that will keep these institutions stable..
With that digested and the knowledge things are likely to get far worse, what can we anticipate for our future - just how bad could things get for the little guy living in the suburbs - trying to raise a family?
I'll refrain from trying to list all possible consequences, as there are far too many potential outcomes, but I would like to highlight several major consequences that could be initiated by a worst-case financial panic...
Note: I'm not trying to scare anyone here, but merely trying to create an awareness and food for thought - so that you can use the information to better prepare your family (in the event the worse-case scenario actually happens).
Let us hypothetically propose the economic crisis intensifies:
Hundreds more banks/financial institutions implode and the FDIC runs out of money - a nationwide run on the banks ensue; consumer credit has consistently gotten worse and available credit-card credit-lines have finally been turned off/reeled in - unemployment skyrockets due to the lack of new credit/spending; inflation rages as the dollar falls sharply; the economic crisis deepens and trillions in unpayable derivative contracts unwind quickly - stock markets collapse around the globe and the crushing pressure is exacerbated by foreign holders of US Debt who finally rush to the exit doors.
The Gvt panics and Stock Markets are closed indefinitely while ATM machines, banks and electronic commerce are shut down across the nation (as the government tries to figure out what to do). People grow anxious as their credit cards and debit cards don't work, and with no cash on hand, they can't buy food or gas... Those who do have cash rush to fill up their gas tanks and empty the shelves at their local grocery stores. The real economy comes to a screeching halt as deliveries of food, gas, etc can no longer make it to market.
Social unrest and general panic set in as our just-in-time economy breaks down. People are confused and scared while the government repetitively tries to reassure that they have everything under control. Hysteria eventually sets in as social chaos, looting, and roving gangs terrorize the masses (taking what they need from the unprepared). Similar situations take place across the nation as people who were on the fringes of society become hungry/desperate and/or take advantage of the lawless situation.
Martial law is ultimately declared and National Guard troops are deployed to major cities around the nation - to help restore order, distribute food, etc.
So many unknowns
Could this actually happen? I don't know - you be the judge; but it's probably better to be a prepared alarmist than an unprepared victim... Think about it.
If you've watched Paulson, Bernanke, Bush and the rest of our worried leaders over the last couple of week, you've probably been able to sense their state of alarm - Yes, they truly realize how big this crisis is...
What can you do to prepare?
I could list a thousand things here from generators, flashlights, etc, but the most important (I believe) are:
1) Have at LEAST a couple of weeks worth of non-perishable food/water on hand
2) Have enough cash on hand to make it through a possible electronic commerce shutdown
3) Maintain close relationships with friends/neighbors (help each other out)
4) If you have a gun, know how to use it - to protect your family, friends and valuable assets (cash/food).
Closing:
Yes folks this could be bad, but we Americans are an industrious/resolute bunch and (though it will take some time) we will find a way to pull out of it.
However, be aware: regardless of the ultimate significance of this downturn, America is likely to forever change as the US Dollar loses it's reserve currency status in the not too distant future.
At a MINIMUM, this economic crisis will cause our standard of living to fall and our cost of living to increase significantly.
Bottom Line:
Our future is uncertain, and we're definitely in for some difficult times ahead, but the world will NOT end - and we will survive.
Again, this post was no meant to scare, but to inform by thinking outside the mainstream box. Use this information as you may, but it's probably not a bad idea to prepare for whatever the outcome.
Best regards
Randy
Friday, August 15, 2008
Gold & Economic Commentary
Attended beer call with a few friends after work tonight and don't feel that I really have the wherewithal to conjure up any inquisitive or deep thoughts, so I plan to post up a couple links and snippets that I think capture the essence of what it transpiring right now.
But before doing so, I'd like you to take a look at the available gold and Silver inventory over at California Numismatic Investments (my favorite dealer): Price/Inventory link
Once you click on the link above, scroll down the page and note the "Our Sell Prices" for the following:
- Gold Eagles = NA (out of stock)
- Gold Buffalo = NA (out of sock)
- Gold Australian Kangaroo = NA (out of stock)
- Gold African Krugerrand = NA (out of stock)
- 1 Oz Pamp Suisse Bar w/Cert = NA (out of stock)
- 100 Gram Gold Bar-Pamp Suisse = NA (out of stock)
- 10 Oz Pamp Suisse With Cert = NA (out of stock)
- Kilo Gold Bullion Bar = NA (out of stock)
- Austrian/Hungarian 100 Corona = NA (out of stock)
- Mexican Gold 50 Peso = NA (out of stock)
- 100 Oz Johnson Matthey/Engelhard Silver Bars = NA (out of stock)
- 1 Oz Generic Silver Rounds (.999 Fine)= NA (out of stock)
- US Silver Eagles = NA (out of stock)
- Canadian Silver Maples = NA (out of stock)
Here's another link (thanks Dave) discussing physical silver shortages across the country: What the Silver Shortages Mean
Bottom line: No physical is available even if you wanted to buy! Something just ain't right...
Moving on to Commentary:
Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Over 8% and 16% on the Week
“After breaking through some key technical supports in the mid-$800s, gold’s pullback deepened as funds continue to liquidate positions and add to the short-term negative momentum. This has made a move back up towards the mid $800’s difficult with many traders now waiting for a period of consolidation to ensue before seeing gold return back up to the mid to upper $800s. The fundamental drivers remain in place for gold and I would view this as an excellent opportunity to buy the dip of this long-term secular bull market. There is strong physical demand emerging which will help place a floor in the gold market around the $800 level.
The short-covering rally in the dollar is a prime driver for the pullback in gold prices and that was aided by free market intervention by Central Banks. All this has done is provided additional time before the serious nature of the financial crises has to be once again confronted. There are major banks and financial institutions which remain highly undercapitalized. I would expect some major news in the coming months which will again bring to the forefront the gravity of the situation. The ingredients are in place for a significantly higher gold price and this short-term anomaly only means that gold can still be accumulated sub $1,000 an ounce. The rapid rate at which dollars are being created (according to shadow stats the no longer published M3 is expanding at double digit rates) remains the primary driving force in the gold market, this cheap monetary policy will continue to debase the value, integrity and confidence in the faith-backed Dollar. Competitive paper money devaluations will enhance gold’s luster going forward as hundreds of billions of fictitiously created paper currency is used to continue these monstrous bailouts with government deficits rapidly growing.
I do believe we could easily see record gold prices as we close out 2008 and enter 2009. These are desperate times and desperate times call for desperate actions. The pullback is the result of free market manipulation by the powerful central banks.”- Peter Spina, http://www.goldforecaster.com/
“Gold continued to drop on the back of COMEX and speculative selling as the $ climbed to almost 10% better than the low of its recent $1.60 low against the Euro. The market believes that the strength of the $ is being engineered by the G-7 central banks, because the interest rate differentials favor the Euro as well as the oil price ensuring still that the Trade deficit continues to bleed the U.S Balance of Payments. This almost straight line move by speculators exacerbates the volatility of the market in precious metals and now in the $. It seems too good to be true and in the past, when such intervention is seen, it almost always ended badly, so we expect considerable volatility in the currency markets as well as the precious metals and it could well be both ways.”- Julian D.W. Phillips, http://www.goldforecaster.com/
You are witnessing violence in the gold market that is but a starter lesson. This violence has as its basis the first major coordinated currency intervention in the euro. The dollar as a mirror image of the euro rose with absolutely no economic basis. Gold fell as it is an inverse currency of the US dollar. Certain hedge funds went broke on other items. They were holding gold and the last of that was thrown into the market to sell after cash gold broke $800. Margined gold holders went in mass into negative cash positions which resulted in them being sold out last US evening as every commodity house now operates in the 24 hour market with computer margin real time valuations. All the gold and commodity bears are being dragged out for media exposure because it fits the agenda of the moment.
“December Gold finished down 22.4 at 792.1, 12.9 off the high and 8.1 up from the low.
September Silver closed down 1.415 at 12.815. This was 0.095 up from the low and 0.445 off the high.
The gold market suffered a rather significant downward washout on Friday and in the process prices fell to the lowest level since the late fall of 2007. Clearly the ever present strength in the Dollar provided the gold market with a large measure of the selling or liquidation pressure, but with oil prices also falling sharply the selling pressure could have come from a number of angles. In fact, the Dollar was showing signs of extending its gains in the wake of fresh inflationary warnings from a US Fed speech in the afternoon action. Given the massive declines on the charts it is likely that technical stop loss selling and out right technical selling pressure was adding into the slide in prices on Friday.
The silver market seemed to come under intense and somewhat historical liquidation pressure on Friday. While the US scheduled economic numbers didn't paint a negative picture on the economy Friday and the US stock market didn't seem to be factoring in a recession, one gets the sense from the magnitude of the slide in silver prices that some type of deflationary selling wave was being carried out. However, with the copper market actually managing to turn positive on the trade it was clear that not all physical metals markets were being viewed in the same bearish light on Friday.”- The Hightower Report, Futures Analysis and Forecasting
This is the prime example (as I told you a thousand times!) any margin in gold anything is a financial death wish.
As gold hit its lows last evening over $40 off I am told the Chinese entered the cash market to take the layoff in cash gold off the bankrupt hedge funds and negative value sellouts in the paper market. You have seen massive involuntary liquidation last US evening. That type of a situation is common to lows. The bull market in gold will not be broken because fundamentally the problems will not obey and go away.”- Jim Sinclair, JSMineset.com
WAG THE DOG: HOW TO CONCEAL MASSIVE ECONOMIC COLLAPSE--Ellen Brown, August 14th, 2008
Last week, Fannie Mae and Freddie Mac had just announced record losses, and so had most reporting corporations. Unemployment was mounting, the foreclosure crisis was deepening, state budgets were in shambles, and massive bailouts were everywhere. Investors had every reason to expect the dollar and the stock market to plummet, and gold and oil to shoot up. Strangely, the Dow Jones Industrial Average gained 300 points, the dollar strengthened, and gold and oil were crushed. What happened?
It hardly took psychic powers to see that the Plunge Protection Team had come to the rescue. Formally known as the President’s Working Group on Financial Markets, the PPT was once concealed and its very existence denied as if it were a matter of strict national security. But the PPT has now come out of the closet. What was once a legally questionable “manipulator” of markets has become a sanctioned stabilizer and protector of markets. The new tone was set in January 2008, when global markets took their worst tumble since September 11, 2001. Senator Hillary Clinton said in a statement reported by the State News Service:
“I think it’s imperative that the following step be taken. The President should have already and should do so very quickly, convene the President’s Working Group on Financial Markets. That’s something that he can ask the Secretary of the Treasury to do. . . . This has to be coordinated across markets with the regulators here and obviously with regulators and central banks around the world.”
The mystery over what was going on with the dollar the first week in August was solved by James Turk, founder of GoldMoney, who wrote on August 7:
“The banking problems in the United States continue to mount, while the federal government’s deficit continues to soar out of control. . . . So what happened to cause the dollar to rally over the past three weeks? In a word, intervention. Central banks have propped up the dollar, and here’s the proof.
“When central banks intervene in the currency markets, they exchange their currency for dollars. Central banks then use the dollars they acquire to buy US government debt instruments so that they can earn interest on their money. The debt instruments central banks acquire are held in custody for them at the Federal Reserve, which reports this amount weekly.
“On July 16, 2008 . . . , the Federal Reserve reported holding $2,349 billion of US government paper in custody for central banks. In its report released today, this amount had grown over the past three weeks to $2,401 billion, a 38.4% annual rate of growth. . . . So central banks were accumulating dollars over the past three weeks at a rate far above what one would expect as a result of the US trade deficit. The logical conclusion is that they were intervening in currency markets. They were buying dollars for the purpose of propping it up, to keep the dollar from falling off the edge of the cliff and doing so ignited a short covering rally, which is not too difficult to do given the leverage employed in the markets these days by hedge funds and others.”
Just as central banks manipulate currencies in concert, so gold can be manipulated by massive selling of central bank reserves. Oil and any other market can be manipulated as well. But markets can be manipulated by only so much and for only so long without fixing the underlying problem. There is more bad news coming down the pike, news of such magnitude that no amount of ordinary manipulation is liable to conceal it.
For one thing, roughly $400 billion in ARMs (adjustable rate mortgages) have or will reset between March and October of this year. Assuming 3 to 6 months for strapped debtors to actually hit the wall with their payments, a huge wave of defaults is about to strike, continuing through March 2009 – just in time for the next huge wave of resets, in option ARMs.3 Option ARMs are loans with the option to pay even less than just the interest on the loan monthly, increasing the loan balance until the loan reaches a certain amount (typically 110% to 125% of the original loan balance), when it resets. The $800 billion credit line recently opened to Fannie Mae and Freddie Mac may be not only tapped but tapped out, at taxpayer expense. The underlying problem is little discussed but impossible to repair – a one quadrillion dollar derivatives scheme that is now imploding. Banks everywhere are facing massive writeoffs, putting the whole banking system on the brink of collapse. Only public bailouts will save it, but they could bankrupt the nation.
What to do? War and threats of war have been used historically to distract the population and deflect public scrutiny from economic calamity. As the scheme was summed up in the trailer to the 1997 movie “Wag the Dog” --
“There’s a crisis in the White House, and to save the election, they’d have to fake a war.”
Perhaps that explains the sudden breakout of war in the Eurasian country of Georgia on August 8, just 3 months before the November elections. August 8 was the day the Olympic Games began in Beijing, a distraction that may have been timed to keep China from intervening on Russia’s behalf. The mainstream media version of events is that Russia, the bully on the block, invaded its tiny neighbor Georgia; but not all commentators agree. Mikhail Gorbachev, writing in The Washington Post on August 12, observed:
“What happened on the night of Aug. 7 is beyond comprehension. The Georgian military attacked the South Ossetian capital of Tskhinvali with multiple rocket launchers designed to devastate large areas. Russia had to respond. To accuse it of aggression against ‘small, defenseless Georgia’ is not just hypocritical but shows a lack of humanity. . . . The Georgian leadership could do this only with the perceived support and encouragement of a much more powerful force.”
Bruce Gagnon, coordinator of the Global Network against Weapons and Nuclear Power, commented in OpEdNews on August 11:
“The U.S. has long been involved in supporting ‘freedom movements’ throughout this region that have been attempting to replace Russian influence with U.S. corporate control. The CIA, National Endowment for Democracy . . . , and Freedom House (includes Zbigniew Brzezinski, former CIA director James Woolsey, and Obama foreign policy adviser Anthony Lake) have been key funders and supporters of placing politicians in power throughout Central Asia that would play ball with ‘our side’. . . . None of this is about the good guys versus the bad guys. It is power bloc politics . . . . Big money is at stake . . . . [B]oth parties (Republican and Democrat) share a bi-partisan history and agenda of advancing corporate interests in this part of the world. Obama’s advisers, just like McCain’s (one of his top advisers was recently a lobbyist for the current government in Georgia) are thick in this stew.”
Brzezinski, who is now Obama’s adviser, was Jimmy Carter’s foreign policy adviser in the 1970s. He also served in the 1970s as director of the Trilateral Commission, which he co-founded with David Rockefeller Sr., considered by some to be the “master spider” of the Wall Street banking network.6 Brzezinski, who wrote a book called The Grand Chessboard, later boasted of drawing Russia into war with Afghanistan in 1979, “giving to the Soviet Union its Vietnam War.”7 Is the Georgia affair an attempted repeat of that coup? Mike Whitney, a popular Internet commentator, observed on August 11:
“Washington’s bloody fingerprints are all over the invasion of South Ossetia. Georgia President Mikhail Saakashvili would never dream of launching a massive military attack unless he got explicit orders from his bosses at 1600 Pennsylvania Ave. After all, Saakashvili owes his entire political career to American power-brokers and US intelligence agencies. If he disobeyed them, he’d be gone in a fortnight. Besides an operation like this takes months of planning and logistical support; especially if it’s perfectly timed to coincide with the beginning of the Olympic games. (another petty neocon touch) That means Pentagon planners must have been working hand in hand with Georgian generals for months in advance. Nothing was left to chance.”
Part of that careful planning may have been the unprecedented propping up of the dollar and bombing of gold and oil the week before the curtain opened on the scene. Gold and oil had to be pushed down hard to give them room to rise before anyone shouted “hyperinflation!” As we watch the curtain rise on war in Eurasia, it is well to remember that things are not always as they seem. Markets are manipulated and wars are staged by Grand Chessmen behind the scenes.
Have a great evening!
Randy
But before doing so, I'd like you to take a look at the available gold and Silver inventory over at California Numismatic Investments (my favorite dealer): Price/Inventory link
Once you click on the link above, scroll down the page and note the "Our Sell Prices" for the following:
- Gold Eagles = NA (out of stock)
- Gold Buffalo = NA (out of sock)
- Gold Australian Kangaroo = NA (out of stock)
- Gold African Krugerrand = NA (out of stock)
- 1 Oz Pamp Suisse Bar w/Cert = NA (out of stock)
- 100 Gram Gold Bar-Pamp Suisse = NA (out of stock)
- 10 Oz Pamp Suisse With Cert = NA (out of stock)
- Kilo Gold Bullion Bar = NA (out of stock)
- Austrian/Hungarian 100 Corona = NA (out of stock)
- Mexican Gold 50 Peso = NA (out of stock)
- 100 Oz Johnson Matthey/Engelhard Silver Bars = NA (out of stock)
- 1 Oz Generic Silver Rounds (.999 Fine)= NA (out of stock)
- US Silver Eagles = NA (out of stock)
- Canadian Silver Maples = NA (out of stock)
Here's another link (thanks Dave) discussing physical silver shortages across the country: What the Silver Shortages Mean
Bottom line: No physical is available even if you wanted to buy! Something just ain't right...
Moving on to Commentary:
Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Over 8% and 16% on the Week
“After breaking through some key technical supports in the mid-$800s, gold’s pullback deepened as funds continue to liquidate positions and add to the short-term negative momentum. This has made a move back up towards the mid $800’s difficult with many traders now waiting for a period of consolidation to ensue before seeing gold return back up to the mid to upper $800s. The fundamental drivers remain in place for gold and I would view this as an excellent opportunity to buy the dip of this long-term secular bull market. There is strong physical demand emerging which will help place a floor in the gold market around the $800 level.
The short-covering rally in the dollar is a prime driver for the pullback in gold prices and that was aided by free market intervention by Central Banks. All this has done is provided additional time before the serious nature of the financial crises has to be once again confronted. There are major banks and financial institutions which remain highly undercapitalized. I would expect some major news in the coming months which will again bring to the forefront the gravity of the situation. The ingredients are in place for a significantly higher gold price and this short-term anomaly only means that gold can still be accumulated sub $1,000 an ounce. The rapid rate at which dollars are being created (according to shadow stats the no longer published M3 is expanding at double digit rates) remains the primary driving force in the gold market, this cheap monetary policy will continue to debase the value, integrity and confidence in the faith-backed Dollar. Competitive paper money devaluations will enhance gold’s luster going forward as hundreds of billions of fictitiously created paper currency is used to continue these monstrous bailouts with government deficits rapidly growing.
I do believe we could easily see record gold prices as we close out 2008 and enter 2009. These are desperate times and desperate times call for desperate actions. The pullback is the result of free market manipulation by the powerful central banks.”- Peter Spina, http://www.goldforecaster.com/
“Gold continued to drop on the back of COMEX and speculative selling as the $ climbed to almost 10% better than the low of its recent $1.60 low against the Euro. The market believes that the strength of the $ is being engineered by the G-7 central banks, because the interest rate differentials favor the Euro as well as the oil price ensuring still that the Trade deficit continues to bleed the U.S Balance of Payments. This almost straight line move by speculators exacerbates the volatility of the market in precious metals and now in the $. It seems too good to be true and in the past, when such intervention is seen, it almost always ended badly, so we expect considerable volatility in the currency markets as well as the precious metals and it could well be both ways.”- Julian D.W. Phillips, http://www.goldforecaster.com/
You are witnessing violence in the gold market that is but a starter lesson. This violence has as its basis the first major coordinated currency intervention in the euro. The dollar as a mirror image of the euro rose with absolutely no economic basis. Gold fell as it is an inverse currency of the US dollar. Certain hedge funds went broke on other items. They were holding gold and the last of that was thrown into the market to sell after cash gold broke $800. Margined gold holders went in mass into negative cash positions which resulted in them being sold out last US evening as every commodity house now operates in the 24 hour market with computer margin real time valuations. All the gold and commodity bears are being dragged out for media exposure because it fits the agenda of the moment.
“December Gold finished down 22.4 at 792.1, 12.9 off the high and 8.1 up from the low.
September Silver closed down 1.415 at 12.815. This was 0.095 up from the low and 0.445 off the high.
The gold market suffered a rather significant downward washout on Friday and in the process prices fell to the lowest level since the late fall of 2007. Clearly the ever present strength in the Dollar provided the gold market with a large measure of the selling or liquidation pressure, but with oil prices also falling sharply the selling pressure could have come from a number of angles. In fact, the Dollar was showing signs of extending its gains in the wake of fresh inflationary warnings from a US Fed speech in the afternoon action. Given the massive declines on the charts it is likely that technical stop loss selling and out right technical selling pressure was adding into the slide in prices on Friday.
The silver market seemed to come under intense and somewhat historical liquidation pressure on Friday. While the US scheduled economic numbers didn't paint a negative picture on the economy Friday and the US stock market didn't seem to be factoring in a recession, one gets the sense from the magnitude of the slide in silver prices that some type of deflationary selling wave was being carried out. However, with the copper market actually managing to turn positive on the trade it was clear that not all physical metals markets were being viewed in the same bearish light on Friday.”- The Hightower Report, Futures Analysis and Forecasting
This is the prime example (as I told you a thousand times!) any margin in gold anything is a financial death wish.
As gold hit its lows last evening over $40 off I am told the Chinese entered the cash market to take the layoff in cash gold off the bankrupt hedge funds and negative value sellouts in the paper market. You have seen massive involuntary liquidation last US evening. That type of a situation is common to lows. The bull market in gold will not be broken because fundamentally the problems will not obey and go away.”- Jim Sinclair, JSMineset.com
WAG THE DOG: HOW TO CONCEAL MASSIVE ECONOMIC COLLAPSE--Ellen Brown, August 14th, 2008
Last week, Fannie Mae and Freddie Mac had just announced record losses, and so had most reporting corporations. Unemployment was mounting, the foreclosure crisis was deepening, state budgets were in shambles, and massive bailouts were everywhere. Investors had every reason to expect the dollar and the stock market to plummet, and gold and oil to shoot up. Strangely, the Dow Jones Industrial Average gained 300 points, the dollar strengthened, and gold and oil were crushed. What happened?
It hardly took psychic powers to see that the Plunge Protection Team had come to the rescue. Formally known as the President’s Working Group on Financial Markets, the PPT was once concealed and its very existence denied as if it were a matter of strict national security. But the PPT has now come out of the closet. What was once a legally questionable “manipulator” of markets has become a sanctioned stabilizer and protector of markets. The new tone was set in January 2008, when global markets took their worst tumble since September 11, 2001. Senator Hillary Clinton said in a statement reported by the State News Service:
“I think it’s imperative that the following step be taken. The President should have already and should do so very quickly, convene the President’s Working Group on Financial Markets. That’s something that he can ask the Secretary of the Treasury to do. . . . This has to be coordinated across markets with the regulators here and obviously with regulators and central banks around the world.”
The mystery over what was going on with the dollar the first week in August was solved by James Turk, founder of GoldMoney, who wrote on August 7:
“The banking problems in the United States continue to mount, while the federal government’s deficit continues to soar out of control. . . . So what happened to cause the dollar to rally over the past three weeks? In a word, intervention. Central banks have propped up the dollar, and here’s the proof.
“When central banks intervene in the currency markets, they exchange their currency for dollars. Central banks then use the dollars they acquire to buy US government debt instruments so that they can earn interest on their money. The debt instruments central banks acquire are held in custody for them at the Federal Reserve, which reports this amount weekly.
“On July 16, 2008 . . . , the Federal Reserve reported holding $2,349 billion of US government paper in custody for central banks. In its report released today, this amount had grown over the past three weeks to $2,401 billion, a 38.4% annual rate of growth. . . . So central banks were accumulating dollars over the past three weeks at a rate far above what one would expect as a result of the US trade deficit. The logical conclusion is that they were intervening in currency markets. They were buying dollars for the purpose of propping it up, to keep the dollar from falling off the edge of the cliff and doing so ignited a short covering rally, which is not too difficult to do given the leverage employed in the markets these days by hedge funds and others.”
Just as central banks manipulate currencies in concert, so gold can be manipulated by massive selling of central bank reserves. Oil and any other market can be manipulated as well. But markets can be manipulated by only so much and for only so long without fixing the underlying problem. There is more bad news coming down the pike, news of such magnitude that no amount of ordinary manipulation is liable to conceal it.
For one thing, roughly $400 billion in ARMs (adjustable rate mortgages) have or will reset between March and October of this year. Assuming 3 to 6 months for strapped debtors to actually hit the wall with their payments, a huge wave of defaults is about to strike, continuing through March 2009 – just in time for the next huge wave of resets, in option ARMs.3 Option ARMs are loans with the option to pay even less than just the interest on the loan monthly, increasing the loan balance until the loan reaches a certain amount (typically 110% to 125% of the original loan balance), when it resets. The $800 billion credit line recently opened to Fannie Mae and Freddie Mac may be not only tapped but tapped out, at taxpayer expense. The underlying problem is little discussed but impossible to repair – a one quadrillion dollar derivatives scheme that is now imploding. Banks everywhere are facing massive writeoffs, putting the whole banking system on the brink of collapse. Only public bailouts will save it, but they could bankrupt the nation.
What to do? War and threats of war have been used historically to distract the population and deflect public scrutiny from economic calamity. As the scheme was summed up in the trailer to the 1997 movie “Wag the Dog” --
“There’s a crisis in the White House, and to save the election, they’d have to fake a war.”
Perhaps that explains the sudden breakout of war in the Eurasian country of Georgia on August 8, just 3 months before the November elections. August 8 was the day the Olympic Games began in Beijing, a distraction that may have been timed to keep China from intervening on Russia’s behalf. The mainstream media version of events is that Russia, the bully on the block, invaded its tiny neighbor Georgia; but not all commentators agree. Mikhail Gorbachev, writing in The Washington Post on August 12, observed:
“What happened on the night of Aug. 7 is beyond comprehension. The Georgian military attacked the South Ossetian capital of Tskhinvali with multiple rocket launchers designed to devastate large areas. Russia had to respond. To accuse it of aggression against ‘small, defenseless Georgia’ is not just hypocritical but shows a lack of humanity. . . . The Georgian leadership could do this only with the perceived support and encouragement of a much more powerful force.”
Bruce Gagnon, coordinator of the Global Network against Weapons and Nuclear Power, commented in OpEdNews on August 11:
“The U.S. has long been involved in supporting ‘freedom movements’ throughout this region that have been attempting to replace Russian influence with U.S. corporate control. The CIA, National Endowment for Democracy . . . , and Freedom House (includes Zbigniew Brzezinski, former CIA director James Woolsey, and Obama foreign policy adviser Anthony Lake) have been key funders and supporters of placing politicians in power throughout Central Asia that would play ball with ‘our side’. . . . None of this is about the good guys versus the bad guys. It is power bloc politics . . . . Big money is at stake . . . . [B]oth parties (Republican and Democrat) share a bi-partisan history and agenda of advancing corporate interests in this part of the world. Obama’s advisers, just like McCain’s (one of his top advisers was recently a lobbyist for the current government in Georgia) are thick in this stew.”
Brzezinski, who is now Obama’s adviser, was Jimmy Carter’s foreign policy adviser in the 1970s. He also served in the 1970s as director of the Trilateral Commission, which he co-founded with David Rockefeller Sr., considered by some to be the “master spider” of the Wall Street banking network.6 Brzezinski, who wrote a book called The Grand Chessboard, later boasted of drawing Russia into war with Afghanistan in 1979, “giving to the Soviet Union its Vietnam War.”7 Is the Georgia affair an attempted repeat of that coup? Mike Whitney, a popular Internet commentator, observed on August 11:
“Washington’s bloody fingerprints are all over the invasion of South Ossetia. Georgia President Mikhail Saakashvili would never dream of launching a massive military attack unless he got explicit orders from his bosses at 1600 Pennsylvania Ave. After all, Saakashvili owes his entire political career to American power-brokers and US intelligence agencies. If he disobeyed them, he’d be gone in a fortnight. Besides an operation like this takes months of planning and logistical support; especially if it’s perfectly timed to coincide with the beginning of the Olympic games. (another petty neocon touch) That means Pentagon planners must have been working hand in hand with Georgian generals for months in advance. Nothing was left to chance.”
Part of that careful planning may have been the unprecedented propping up of the dollar and bombing of gold and oil the week before the curtain opened on the scene. Gold and oil had to be pushed down hard to give them room to rise before anyone shouted “hyperinflation!” As we watch the curtain rise on war in Eurasia, it is well to remember that things are not always as they seem. Markets are manipulated and wars are staged by Grand Chessmen behind the scenes.
Have a great evening!
Randy
Sunday, September 07, 2008
Dutch withdraw spy from Iran because of 'impending US attack'
I have been discussing issues related to IRAN for quite some time now - and this Blog has even been shut down (for unknown reasons, by unknown entities) in very short order after previous Iran posts... Let's hope this one is doesn't cause a shutdown.
Anyway, many are predicting Iran will be attacked soon. Even John Bolton, the former American ambassador to the United Nations, has stated Israel may attack Iran after the November presidential election but before George W Bush's successor is sworn in - that way, whoever gets elected is stuck dealing with the situation.
Here are a few of my archived articles - discussing reasons why Iran may be attacked:
IRAN has Bush over a Barrel
Dollar: Faltering Foundation of US Economic Strength
Israelis 'rehearse Iran attack'
OPEC and the Dollar Peg
Iran’s Oil Bourse Set to Open this Sunday
Reason For Today's Post (hat tip Justin)
Telegraph.co.uk: The Dutch intelligence service has pulled an agent out of an "ultra-secret operation" spying on Iran's military industry because spymasters in Netherlands believe a United States air attack was imminent.
According to reports in the newspaper De Telegraaf, the country's intelligence service, the AIVD, has stopped an espionage operation aimed at infiltration and sabotage of the weapons industry in Iran.
"The operation, described as extremely successful, was halted recently in connection with plans for an impending US air attack on Iran," said the report.
"Targets would also be bombed which were connected with the Dutch espionage action."
"Well placed" sources told the paper that a top agent had been recalled recently "because the US was thought to be making a decision within weeks to attack Iran with unmanned aircraft".
"Information from the AIVD operation has in recent years been shared with the American CIA secret service."
Brig Gen Seyyed Massoud Jazayeri, deputy chief of the Iranian armed forces, warned at the weekend that military attacks against Iran would trigger a Third World War.
"The exorbitant demands of the US leaders and the global Zionism which have created the current situation in Iraq, Afghanistan, Sudan and Caucasus are gradually directing the world to the edge of the cliff," he said.
The US has refused to rule out a military attack against Iran if its government continues to enrich uranium as part of its civilian nuclear programme, which the West suspects has the clandestine objective of developing atomic weapons.
Iran has warned it would close the strategic Strait of Hormuz, the entrance to the Gulf and a major oil shipping route, if it is attacked.
On Friday, the Israel newspaper Ma'ariv reported that Israel has stepped up preparations for a contingency plan to attack Iran, should diplomatic efforts, via the United Nations, fail to derail Tehran's suspected nuclear weapons programme.
Other indicators/issues pointing to the potential for attack
Video Below: Fox News: Next Gulf War?
Kuwait, in preparing for confrontation with IRAN, has activated its emergency war plan and is performing exercise drills while a US and British Armada head to the region - believed to be the largest deployment since 1991.
Video Below: Max Keiser - The U.S. recession, dollar and why Bush wants to bomb
Video Below: USA and ISRAEL will attack IRAN before Presidential Election
Afshin Rattansi talks to State Duma Deputy in Moscow about McCain's ties to Georgia, Obama's defeat after a Ukranian Civil War or another George W Bush war - against Iran, and before the U.S. Presidential Elections
Closing Thoughts:
Has anyone else thought it possible that recent strength in the dollar coupled with a massive commodities smackdown (including oil) was an orchestrated play to get inflation/oil under control - allowing an attack to take place. I feel TPTB know prices will soar if/when a new middle east campaign is initiated and it couldn't be done with (previous) out of control prices... Certainly makes sense to me...
Randy
Anyway, many are predicting Iran will be attacked soon. Even John Bolton, the former American ambassador to the United Nations, has stated Israel may attack Iran after the November presidential election but before George W Bush's successor is sworn in - that way, whoever gets elected is stuck dealing with the situation.
Here are a few of my archived articles - discussing reasons why Iran may be attacked:
IRAN has Bush over a Barrel
Dollar: Faltering Foundation of US Economic Strength
Israelis 'rehearse Iran attack'
OPEC and the Dollar Peg
Iran’s Oil Bourse Set to Open this Sunday
Reason For Today's Post (hat tip Justin)
Telegraph.co.uk: The Dutch intelligence service has pulled an agent out of an "ultra-secret operation" spying on Iran's military industry because spymasters in Netherlands believe a United States air attack was imminent.
According to reports in the newspaper De Telegraaf, the country's intelligence service, the AIVD, has stopped an espionage operation aimed at infiltration and sabotage of the weapons industry in Iran.
"The operation, described as extremely successful, was halted recently in connection with plans for an impending US air attack on Iran," said the report.
"Targets would also be bombed which were connected with the Dutch espionage action."
"Well placed" sources told the paper that a top agent had been recalled recently "because the US was thought to be making a decision within weeks to attack Iran with unmanned aircraft".
"Information from the AIVD operation has in recent years been shared with the American CIA secret service."
Brig Gen Seyyed Massoud Jazayeri, deputy chief of the Iranian armed forces, warned at the weekend that military attacks against Iran would trigger a Third World War.
"The exorbitant demands of the US leaders and the global Zionism which have created the current situation in Iraq, Afghanistan, Sudan and Caucasus are gradually directing the world to the edge of the cliff," he said.
The US has refused to rule out a military attack against Iran if its government continues to enrich uranium as part of its civilian nuclear programme, which the West suspects has the clandestine objective of developing atomic weapons.
Iran has warned it would close the strategic Strait of Hormuz, the entrance to the Gulf and a major oil shipping route, if it is attacked.
On Friday, the Israel newspaper Ma'ariv reported that Israel has stepped up preparations for a contingency plan to attack Iran, should diplomatic efforts, via the United Nations, fail to derail Tehran's suspected nuclear weapons programme.
Other indicators/issues pointing to the potential for attack
Video Below: Fox News: Next Gulf War?
Kuwait, in preparing for confrontation with IRAN, has activated its emergency war plan and is performing exercise drills while a US and British Armada head to the region - believed to be the largest deployment since 1991.
Video Below: Max Keiser - The U.S. recession, dollar and why Bush wants to bomb
Video Below: USA and ISRAEL will attack IRAN before Presidential Election
Afshin Rattansi talks to State Duma Deputy in Moscow about McCain's ties to Georgia, Obama's defeat after a Ukranian Civil War or another George W Bush war - against Iran, and before the U.S. Presidential Elections
Closing Thoughts:
Has anyone else thought it possible that recent strength in the dollar coupled with a massive commodities smackdown (including oil) was an orchestrated play to get inflation/oil under control - allowing an attack to take place. I feel TPTB know prices will soar if/when a new middle east campaign is initiated and it couldn't be done with (previous) out of control prices... Certainly makes sense to me...
Randy
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