31 Mar 2012

Must Read: Jim Grant Crucifies The Fed; Explains Why A Gold Standard Is The Best Option

Tyler Durden's picture
The Federal Reserve Bank of New York has invited some of its public critics to visit the bank to unburden themselves of their criticisms. On March 12, it was Jim Grant's turn. The text of his remarks follows. (highlights ours)

Piece Of My Mind
My friends and neighbors, I thank you for this opportunity. You know, we are friends and neighbors. Grant’s makes its offices on Wall Street, overlooking Broadway, a 10-minute stroll from your imposing headquarters. For a spectacular vantage point on the next ticker-tape parade up Broadway, please drop by. We’ll have the windows washed.
You say you would like to hear my complaints, and, on the one hand, I do have a few, while on the other, I can’t help but feel slightly hypocritical in dressing you down. What passes for sound doctrine in 21st-century central banking—so-called financial repression, interest-rate manipulation, stock-price levitation  and money printing under the frosted-glass term “quantitative easing”—presents us at Grant’s with a nearly endless supply of good copy.

Third round of quantitative easing & US economy - Max Keiser with Ed Harrison

Max interviews Ed Harrison from CreditWritedowns.com. He talks about the Goldman Sachs's prediction for third round of quantitative easing sometime in April or May and what will another round of quantitative easing do to the US economy?

Pirate My Film Presents - Terror Trading 9/11

"Terror Trading 9/11" by Lars Schall and Michael Leitner is a video dedicated to the topic of the alleged informed trading activities prior to the terror attacks of September 11th, 2001. Funded through „Pirate My Film", it shows interviews with Max Keiser, Kevin Ryan and Michael C. Ruppert.

Argentine government launches educational material on sovereignty dispute over Malvinas

On April 2nd Argentinians will commemorate the beginning of Malvinas War, a highly-sensitive episode of the country´s modern history that lasted 74 days and claimed the lives of 649 Argentine soldiers. Source

Islamic Republic Of Iran Day

Iran is marking the 33rd anniversary of a referendum that led to the replacement of the rule of monarchs with a democratic government. On March 31st, 1979, Iranians massively turned out in a referendum to say "yes" to the establishment of an Islamic Republic. Source

Soros's MF Global Bank Heist Via JP Morgan with Max Keiser

Alex gets into economic issues today with broadcaster and film-maker Max Keiser. Prior to being a broadcaster, Keiser was a stock broker on Wall Street. Source

Australia calls WikiLeaks ‘irresponsible,’ delays Assange-related cables publication after US pressure

The Australian government has blamed WikiLeaks for a “reckless, irresponsible and potentially dangerous” disclosures of secret information. It is also delaying the release of diplomatic cables on the matter after the US expressed concern.
Last week Anna Harmer, an official of Australia’s Attorney General wrote to a legislator that “debate about the WikiLeaks matter is not about censoring free speech or preventing the media from reporting news,” The Sydney Morning Herald reports. She also confirmed the government’s focus on WikiLeaks’ “reckless” and “unauthorized” disclosure of classified material.
In the meantime, Australia’s Department of Foreign Affairs and Trade has delayed the release of sensitive diplomatic cables related to Julian Assange and WikiLeaks until Assange’s extradition from the UK to Sweden has been finalised.
The move came after US authorities expressed concerns over the disclosure of US-Australian cables regarding WikiLeaks. They asked Australia that Washington be consulted on future Freedom of Information releases.

Point Break: 'Spain last nail in Euro-coffin' - Michael Mross

"Spain will definitely Blow Up the Euro"
Eurozone finance ministers have agreed to boost the EU's rescue fund to 800 billion euros, to help countries like Spain recover from their crippling debt woes. Spain's financial crisis has prompted the government to announce its biggest austerity measures in over three decades. The country's vowed to cut 27 billion euros from its budget this year. It comes after tens of thousands of protesters hit the streets on Thursday, to fight against labor reforms.

Michael Mross, economic analyst says that while the country struggles to rise out of its debt crisis, it will never be able to implement the new cuts. Source

Death and Over 300 Maimed, Injured - March to al-Quds Analysis

Palestinians A day to demand their land and their rights back. Palestinians and their supporters from around the world have taken part in the Global March on Jerusalem- al Quds to mark the Land Day.The reaction from Israel: One Palestinian killed in the besieged Gaza Strip and over 300 hundred injured in both Gaza and the West BankAnd the reaction from the international community: silence, as usual. On this edition of News Analysis we're asking why the Palestinian cause is getting more public rather than official political support internationally. Source

Muppets vs. Goldman Sachs

Will India Stop Buying Gold?

We've read mixed reports about how lofty gold and silver prices are affecting demand in India. One month we're told demand is up, and the next it's supposedly down. I'm not suggesting that official reports are inaccurate, but it is admittedly confusing and doesn't help us understand the real trend in the country.
Why should we care about the gold market in India? Well, let's face it; the nation is one of the biggest consumers of the metal, a major driver that can give us hints about demand and investment trends, along with what to perhaps eventually expect here in North America. But reading third-party reports about India is very different than getting information firsthand from a credible source in the country. I wanted to get to the bottom of what's really going on in India by talking to a reputable bullion dealer who could give me the inside scoop, an up-to-the-moment dispatch from the front lines, as it were. So I did just that.
Ashish and Rashmi Sand own Savio Jewellery (Savio means "shine" in Italian), a design studio and jewelry factory in Jaipur, India. They've received many design and manufacturing awards since starting their business six years ago, winning five awards in just the past six months. They source gold from bullion agents in Jaipur, who in turn obtain it from dealers in Hong Kong, Dubai, Mumbai, and Delhi. They have industry contacts, friends, and relatives that span the globe, from the US and UK to Asia and Australia. If anybody knows what's happening in the physical gold and silver bullion markets and the Indian jewelry market, it's them.
In this exclusive interview, you can read what Ashish and Rashmi told me about unstoppable demand, growing silver interest, budding demand for coins and bars, reduced selling, shifting trends with women, burgeoning ETFs, and why they believe a bubble is headed our way

Warren Buffet, Reflections on Post-Capitalism, Political Entrepreneurialism, and the Bernanke Contrarian Index

We've heard billionaire investor Warren Buffett saying the rich should be taxed more. That he should be taxed more. He's mad ethe case very publicly and with much fanfare, that he pays 17.7% in taxes, a lower tax rate than his secretary...and not just his secretary...all of his office staff. Sounds impressive, but our guest today asks if we should slap a warning label on each one of Buffett's public pronouncements as well.

This Time Is No Different - Reflections On 1929 Optimism

Tyler Durden's picture

When it comes to markets, the following clip, as well as memories of recent market collapses, highlights that it is usually brightest just before it's pitch black.
..."As the market floundered financial leaders were as optimistic as ever...more so"...
We are where...

30 Mar 2012

Active assault on small US family farms - Mike Adams

Insane Michigan government announces plan to destroy ranch livestock based on hair color and arrest hundreds of ranchers as felons

The state of Michigan is only days away from engaging in what can only be called true "animal genocide" -- the mass murder of ranch animals based on the color of their hair. It's all part of a shocking new "Invasive Species Order" (ISO) put in place by Michigan's Department of Natural Resources (DNR). This Invasive Species Order suddenly and shockingly defines virtually all open-range pigs raised by small family farms to be illegal "invasive species," and possession of just one of these animals is now a felony crime in Michigan, punishable by up to four years in prison.

On Liquidity And The False Recovery

David McWilliams (of Punk Economics) is back (previous discussions here and here) and this time he takes on the flood of liquidity and the false recovery that has been created.
Starting with a discussion of gas prices and the central banks' recklessness behind it

A Cashless Society May Be Closer Than Most People Would Ever Dare To Imagine

"The big banks want a cashless society because it is much more profitable for them."
Most people think of a cashless society as something that is way off in the distant future.  Unfortunately, that is simply not the case.  The truth is that a cashless society is much closer than most people would ever dare to imagine.  To a large degree, the transition to a cashless society is being done voluntarily.  Today, only 7 percent of all transactions in the United States are done with cash, and most of those transactions involve very small amounts of money.  Just think about it for a moment.  Where do you still use cash these days?  If you buy a burger or if you purchase something at a flea market you will still use cash, but for any mid-size or large transaction the vast majority of people out there will use another form of payment.  Our financial system is dramatically changing, and cash is rapidly becoming a thing of the past.  We live in a digital world, and national governments and big banks are both encouraging the move away from paper currency and coins.  But what would a cashless society mean for our futureAre there any dangers to such a system?
Those are very important questions, but most of the time both sides of the issue are not presented in a balanced way in the mainstream media.  Instead, most mainstream news articles tend to trash cash and talk about how wonderful digital currency is.

'Land Day' clashes: Israeli Police Kill Using Tear Gas, Chemical Smell Weapons, Sound Weapons and Water Cannons Against Protesters

At least one person is reported killed and almost 200 maimed or injured as Israeli police use tear gas, chemical smell weapons, sound weapons and water cannons against Palestinian protesters, marking Land Day. They are remembering the death of six Arabs killed by police in demonstrations against a land grab by Israel in 1976. Source

United Nations Soft-Kill Depopulation Agenda Exposed with Jurriaan Maessen

Rockefeller Foundation Developed Vaccines For "Mass-Scale" Fertility Reduction. In its 1968 yearly report, the Rockefeller Foundation acknowledged funding the development of so-called "anti-fertility vaccines" and their implementation on a mass-scale. From page 51 onward we read:

"(...) several types of drugs are known to diminish male fertility, but those that have been tested have serious problems of toxicity. Very little work is in progress on immunological methods, such as vaccines, to reduce fertility, and much more research is required if a solution is to be found here."

How the elite control your mind and your life


Note: Emphasis Added

"The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in iniquity and born in sin. Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with the flick of a pen, they will create enough money to buy it back again. Take this great power away from the bankers and all the great fortunes like mine will disappear, and they ought to disappear, for this would be a better and happier world to live in. But if you want to continue the slaves of bankers and pay the cost of your own slavery, let them continue to create money and to control credit."

Sir Josiah Stamp, Director and President of the Bank of England during the 1920's

"We are not going to achieve a new world order without paying for it in blood as well as in words and money."

Arthur Schlesinger, Jr., in Foreign Affairs (July/August 1995)

Ben Gilroy and People for Economic Justice serve court papers on Irish government & OWS starts to heat up again

On Tuesday 27th March Ben Gilroy, John Squires and 'People for Economic Justice' served a summons on the Irish government to answer charges of illegal activity over the bank bailout. The bailout is illegal under Bunreacht Na hEireann, the Irish Constitution.
It is also illegal under international law.

Rajoy to Unveil Deepest Spanish Budget Cuts in 30 Years as Spanish Rampage - General strike erupts in street violence

Riot police took to the streets of Spain as protesters burned bins, vandalised shops and attacked officers during a one day nationwide general strike. Spaniards angry with having the eurozone's highest unemployment rate refused to go to work in protest at further crushing austerity measures being brought in by the new center-right Popular Party government.

Walmart of weed' opening store in Washington, D.C.

A company dubbed the "Walmart of Weed" is putting down roots in America's capital city, sprouting further debate on marijuanamedical or otherwise.
Just a few miles from the White House and federal buildings, a company that candidly caters to medical marijuana growers is opening up its first outlet on theEast Coast. The opening of the weGrow store on Friday in Washington coincides with the first concrete step in implementing a city law allowing residents with certain medical conditions to purchase pot.
Like suppliers of picks and axes during the gold rush, weGrow sees itself providing the necessary tools to pioneers of a "green rush," which some project could reach nearly $9 billion within the next five years.


Syrian Girl - DeMockracy is a Farce

Our Figureheads of Democracy are just that - they are not really Presidents and Prime Ministers - while Syria has similarities - it is not as bad. We also learn the difference between a Democracy and a Republic. Source

Barbaric Abortion Policies In China: Is The U.S. Next?

The Shocking Face Of China's Brutal One Child Policy. Can't happen here? Top academics and eugenicists are calling for what Obama's science czar once advocated

MF Global Customer and Fund Manager on JP Morgan and the Goldman Sachs Connection

Yesterday, the MF Global collapse took center stage on Capitol Hill. The threat of crony capitalism and the sanctity of customer money in US markets hangs in the balance. The unprecedented disappearance, loss, and theft of customer money (1.6 billion dollars worth of customer money to be exact)

UK ailing economy- News Analysis

The British economy is officially worse than expected. Will 2012 be the year of recovery or recession? 

Meanwhile, fuel problem is growing with the government telling drivers to stockpile gasoline over fears of a looming strike by fuel-tanker drivers.

At the same time, George Osborne's Budget for 2012 has been met by a largely negative reception in the press and from members of the public.

Osborne reduced the 50% top rate of income tax to 45% and drove through new cuts to corporation tax. Source 

29 Mar 2012

Enough is Enough - David Icke

David Ickes' sensational New book is being shipped now
Remember Who You Are is destined to transform the way vast numbers of people see themselves and the world -- and it could not have been published at a more pivotal moment in known human history. We live in extraordinary times, and we face the most enormous challenge to our individual and collective freedom.

Bye-bye Dollar: BRICS doesn't trust the buck - Andrew Gavin Marshall

BRICS is a group of countries banding together in a troubled world economy. Brazil, Russia, India, China and South Africa are countries that make up 42 percent of the world's population, a quarter of its landmass and 75 percent of the foreign reserve worldwide. The BRICS influence on the global stage is growing and with their growing power they have plans to form a new joint development bank. To talk more about this issue RT's Liz Wahl is joined by Andrew Gavin Marshall of ThePeoplesBookProject.com Source

Brazil to rally BRICS against rich countries

Currency Wars: The biggest policy problems now are in the rich world.

Brazil will push for its large emerging-market peers including China to join it in denouncing what it sees as unfair monetary policy practiced by Europe and the United Statesraising the stakes in a global confrontation over economic imbalancesBrazilian trade and industry minister Fernando Pimentel told Reuters on Wednesday his country would seek such language in a communiqué following Thursday's BRICS summit, which brings together Brazil, Russia, India, China and South Africa.

Caught Red Handed: Manipulation in Gold Market Since the US Lost AAA Rating

This is a report just published by Paul Mylchreest, who used to be at Chevreux where He Wrote The Infamous First Bank Report Confirming Manipulation in the goldmarket.

Backstage Wall Street - Max Keiser with Josh Brown

Multi-camera fraud live from Parliament, push button autocracy from the global central banks and losing granny's 5000 peanut butter money on Wall Street. In the second half of the show Max talks to Josh Brown about his new book, Backstage Wall Street. Source

Reggie Middleton takes a Bite out of Apple on his trip back from Gold Sands of Abu Dhabi

Among those testifying at the hearing were MF Global general counsel Laurie Ferber; MF Global chief financial officer Henri Steenkamp; and Christine Serwinski, former chief financial officer of the company's brokerage unit. 

Now, onto Europe, where we take a little break from MF Global to focus on some "treasury hunting,"

"Wild Ideas": Follow the Constitution, Stop Printing Money, Don't Fight Undeclared Wars - Ron Paul

LulzSec ‘Reborn’: US military dating website hacked, 170,000 emails leaked

The hacking group LulzSec Reborn may have resurfaced after a short lull. The group claims to have attacked a military dating website.
In its announcement on the pastebin.com website, the group said it has leaked 170,937 military emails from MilitarySingles.com website.
“There are emails such as @us.army.mil ; @carney.navy.mil ; @greatlakes.cnet.navy.mil ; @microsoft.com ; etc.., the hackers said. They also provided links for downloading the data.
Militarysingles.com is a dating website aiming at connecting single soldiers. In response to the attack, the site has enacted a “series of security procedures”, the chief executive of the company said.

Othman family: Plight of Palestinian families in exile - Diaspora

Since 1948, millions of Palestinians have been forced into exile from their own lands. In this series we seek to find out what happened to the refugees of the 1948 and how their families are coping with six decades in exile. In this episode of the show Lauren Booth meets Othman family from London. Source

28 Mar 2012

Farage - Western World Collaborated in Giant Ponzi Scheme

We are heading deeper and deeper into insanity.  Even in a country that is outside of the eurozone, take the United Kingdom, our national debt is set to rise by 40% over the next five years.”



Santiago, Chile.
DumbfoundedThat’s the only way to describe the reaction that future historians will have when they look back and study the utter perversion that is our global financial system.

We live in a time when a tiny handful of people have their fingers on a button that can conjure trillions of dollars, euro, yen, and renminbi out of thin air. In the United States, it comes down to one man. Just one.

With a single decision, he controls the lever that dominates the entire economy. When you control the money, you control everything– financial markets, consumer prices, risk perceptions, investment habits, savings rates, hiring decisions, pay raises, sovereign debt, housing starts, etc.  One man.

This irrational, arrogant system presupposes by design that a central banker is smarter than everyone else; that markets are incapable of determining appropriate risk and value; that he is more effective at allocating our time, capital, and labor than we are.
Future historians will probably also be dumbfounded when they see how long people allowed worthless, unbacked fiat paper to pass as money.  It’s extraordinary that most people today happily accept a digital abstraction of paper currency controlled by a single individual as ‘valuable’.

Gold is Manipulated (But That's Okay) Chris Martenson

The price of gold is being actively managed by central planners and their proxies. The main culprit here appears to be the US authorities, as the manipulation is most apparent in the US open gold market. For the most part, this 'management' has resulted in letting the price of gold rise, but not too much, or too quickly. 
The price of gold has always been an object of interest for governments and central bankers. The reason is simple enough to understand: Gold is an objective measure of the degree to which fiat money is being managed well or managed poorly.
As such, whenever paper money is being governed poorly, the price of gold becomes an important barometer. And this is why the actual price of gold is a strong candidate to be 'managed.' Or 'influenced'. Or 'manipulated'. Whichever word you prefer, they all convey the same intent.
Some who are reading this are likely having an eye-rolling moment because they hold a belief that there is no conspiracy to manage the price of gold.
This is an interesting belief to hold because it runs heavily against the odds. It's similar to holding the belief that the house in Vegas does not have a statistical advantage.

'Annan's plan needs to be instituted in US' - Afshin Rattansi

Syrian rebels are under pressure to accept the UN-backed peace plan, after Damascus rubber-stamped the deal. It includes appeals for a ceasefire - but no calls for President Assad to step down - something the opposition and Washington have been calling for. The US is pushing for the rebels to unite, with some factions rallying behind the Syrian National Council at a conference in Turkey. RT talks to journalist and author Afshin Rattansi, who's long been covering events in the region. Source

Muppets Hunting Muppets and No smoking guns for Wall St. crooks - Max Keiser with Charles Goyette

Rising tides of incontinence and cultural revolutions while muppet hunting with Lloyd Blankfein and the seething masses worshiping Ben Bernanke. In the second half of the show Max talks to bestselling author, Charles Goyette, about bi-partisan debtors, peasant pitchforks and a warmongering state read on for 'No smoking guns for Wall St. crooks' teaser.

Sen. Rand Paul Invokes The Constitution In Iran Sanctions Debate

Senator blocks sanctions bill saying it could be used as a means to go to war - Steve Watson: Rand Paul has effectively single handedly blocked a bi-partisan bill to place yet more crippling economic sanctions on Iran, by demanding an amendment to prevent the White House using the legislation as an authorization to attack the country.

Katy Perry launches Man Hating Marine Recruitment Video

Katy Perry Shills for the Military Industrial Complex - Alex Jones covers the news including a story about Katy Perry's new propaganda music video "Part of Me" for the US Marine Corps. Source

Re-Occupy - CrossTalk with Charles Cooke, Bernadene Zennie and Danny Schechter

How has the OWS movement transformed over the last 6 months? How newsworthy are the ongoing protests? Is OWS fatigue only growing? And has the movement achieved anything on the ground? CrossTalking with Charles Cooke, Bernadene Zennie and Danny Schechter. Source

Ron Paul Examines Federal Reserve Bailout of Eurozone

Ron Paul: End Corporate Medicine to Fix Healthcare + Romney Listens to Me - But We Disagree on the Issues

Hot-Mic Heat: Russia, U.S. Enemy No. 1?

It's this particular conversation - which wasn't supposed to go public - that's got tongues wagging across the U.S. after being captured by cameras word-for-word.

27 Mar 2012

Syrian Girl Speaks Out Against Angelina Jolie & Al-Qaeda

A SWIFT Kick To The Pistachios: Jim Sinclair covers what happens when SWIFT cuts off Iran on KWN

"We've really done it now, we've shot ourselves in the foot, we've begun an economic war against powers economically stronger than we are!"
Click here to link with Jim Sinclair's 
audio interview with King World News

US 'Assange hunt' chokes air for whistleblowers

"We will only know what the state wants us to know."
Washington's relentless pursuit of WikiLeaks founder Julian Assange, and alleged whistle-blower Bradley Manning, is no secret. But the fate of the two men has got US journalists worried, that they too could soon find themselves behind bars.

Julian Assange’s life resembles a game of chess. He is an Australian citizen in the custody of Britain fighting extradition to Sweden. But no one wants the king of WikiLeaks more than America. Washington has had secret plans for Assange since at least January 2011.

A Fistful of Euros - Dr. Ron Paul

This week, my congressional committee will hold a hearing to examine how the Federal Reserve bails out European banks, propping up spendthrift European governments in the process.  Unfortunately this bailout comes at the expense of American citizens, in the form of higher prices and diminished savings down the road.
A good analysis of the Fed’s “swap” scheme first appeared in the Wall Street Journal back in December, in an article by Gerald O’Driscoll entitled, The Federal Reserve’s Covert Bailout of Europe.”  Essentially, beginning late last year the Fed provided U.S. dollars to the European Central Bank in exchange for Euros-- sometimes as much as $100 billion at a time.  The ECB then funneled those dollars to European banks to provide liquidity and prevent crises from bank insolvencies.  Since the currency swap was not technically a loan, the Fed did not have to embarrass itself by openly showing foreign bank debt on its balance sheet.  The ECB meanwhile did not have to print new Euros and expose the true fragility of big European banks. 
The entire purpose of this unholy arrangement was to obscure the truth: namely that the Fed was bailing out Europe with U.S. dollars.

Corzine Directly Ordered Transfer of Stolen Customer Funds: Gerald Celente Reports

Alex talks with Gerald Celente about Jon Corzine and the MF Global case. The former Goldman Sachs boss Corzine faces legal liability after he ordered money from the segregated accounts of clients transferred to a U.K. account as his brokerage neared collapse. Gerald Celente is a renowned trend forecaster, publisher of the Trends Journal, business consultant and author. He lost six figures to Corzine and MF Global last November. 
A memo released by the House Financial Services subcommittee contradicts Corzine's claim, made under oath before Congress, in which the former New Jersey governor claimed, "I did not instruct anyone to lend customer funds to anyone."

$200 million dollars in customer funds, part of a $1.6 billion in client money that disappeared, was sent to MF Global's account with JP Morgan by direct order of Corzine, the email reveals.

Ireland faces legal challenge on bank bailout

Activist seeks declaration that promissory notes illegal - Says 31 billion promissory note not approved by parliament

An Irish activist on Monday launched a legal challenge against a 31 billion euro ($41 billion) promissory note issued by the government to bail out two collapsed banks, saying the scheme was not approved by parliament.

The move comes amid talks between the Irish government and the European Central Bank on a possible refinancing of the notes, used to bail out now-defunct Anglo Irish Bank and Irish Nationwide Building Society.

A 3.1 billion euro repayment on the notes is due by the end of the week, and the government is exploring ways to delay the payment after a groundswell of opposition.


But Lucas my dear, if you run out of poor people, you can always steal from the sick
Bank of Greece complicit in broadscale embezzlement revealed by respectable Greek health site
The illegally denied default of Greece entered a dramatic new phase this afternoon with the revelation by mainstream Greek public health website Health News that, shortly before midnight on March 8th – the eve of Greece’s psi completion on Friday March 9th – on average 70% of public utility funds in varous large, interest-bearing accounts at the Bank of Greece were raided. These included most of the State’s regional hospital budgets, various universities and (it is alleged) at least one utility company.