Tag: politicians

How Not to Stop a Terrorist

Filed in AMAG, BP, deflation, euro, lead, Lear, New Gold, o, silver, target by on January 26, 2011 0 Comments

As Glenn Greenwald predicted, terrorists have attacked the next most logical target. A suicide bomber has caused the death of nearly three dozen people in Moscow’s Domodedovo Airport by attacking a crowded area not subject to rigorous security measures. Mr. Greenwald expected the next terrorist bombing to take place in the crowded lines just before the security checkpoint. Instead, they went for a soft target just outside of the hard target, but it wasn’t quite the soft target Mr. Greenwald expected… The suicide bomber went to the back door instead of the front. The other unguarded end of the airport was attacked: the part just beyond the security line where passengers crowd together to pick up their bags and find ground transportation or meet relatives and friends. “Medvedev Orders Bomb Probe, Threatens Sackings,” reads an Associated Press headline this morning. The article continues… “Medvedev lashed out at law enforcement and airport authorities over the attack at Domodedovo, an international hub and major gateway to Russia, which killed at least eight foreigners… “‘It is clear that there is a systemic failure to provide security for people’ at Domodedovo, said Medvedev. “He ordered the Interior Ministry to recommend transport security officials for dismissal and said authorities found culpable would be held responsible, suggesting they could face prosecution.” Exactly what were security officials supposed to do?: “Domodedovo Airport said it was not responsible for the blast. ‘We fully met all the requirements in the sphere of air transport security for which we are responsible,’ spokeswoman Yelena Galanova said in televised comments.” Domodedovo Airport is like just about every other airport in the world. That is to say, there is no protocol to stop random people from wandering into the baggage claim area. Now I suppose there may be. But I’m not sure it will help. You can “harden” one target all you want; there will still be an unprotect zone just beyond your securest point. Medvedev doesn’t want to accept that… “He urged officials to develop a system that would provide for ‘total checks’ on people and bags at airports.” I’m not sure what this is supposed to mean. Wherever these “total checks” start, there will be people congregating somewhere prior to being totally checked. These people will…

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Raising the Debt Ceiling

Filed in BP, Debt, euro, european union, Gold, GOld juniors, Gold Market, lead, o, obama, silver, stimulus, target by on January 21, 2011 0 Comments
Raising the Debt Ceiling

The United States government seems to enjoy spending our money with the zeal of a rap star. They like it so much, in fact, that they’re going to need a little more from you… Last week, Treasury Secretary Timothy Geithner warned Congress that this year’s statutory limit on federal debt will be reached as early as spring — between March 31st and May 16th. Geithner alerted congressional leaders saying: Even a very short-term or limited default would have catastrophic economic consequences that would last for decades. For these reasons, I am requesting that Congress act to increase the limit early this year, well before the threat of default becomes imminent. I don’t buy it. We’ve already been down this road before… Bush’s TARP and Obama’s Economic Stimulus effectively did the same thing. And look what happened: more than 90% of the money went right to the banks, where it still resides. Bush and Obama did their jobs. They protected the banks at all costs. And that was, of course, the design from the start. To bring confidence back into the U.S. system, we’re simply going to have to cut out the reckless spending. This would point America in the right direction and reduce the risk of a default or devaluation that looms in our near future. Unfortunately, this does not appear to be the road our politicians want to take. ~~SIGNUP_WD~~ The trouble with this train wreck of a debt picture is that rates are going to have to go higher in the near future. That’s because the folks who have been buying our debt over the course of the last 30 years are no longer interested in our new debt offerings at current interest rates. Not only are they not interested in buying our new debt; but they’ve decided to dump the Treasury paper they already have. This puts the U.S. in a tricky situation. To make our obsessive borrowing more attractive, we’ll have to continue to raise rates. This is where things really start to go south… And the whole of society could fail because of unsustainable spending and debt scenarios at every level of government worldwide. This was typical of every other empire our world has ever known before their ultimate collapse: the Spanish, Greek, Roman, and British Empires all came to an end because they spent themselves into oblivion— just as the European Union, England, Japan, and the U.S. are doing today. Just consider how truly desperate some situations have become… Last week, the state of Illinois increased personal income tax by 66% and corporate income tax by 45%. These increases are designed to address a $15 billion state budget deficit that lawmakers said was leading the state into insolvency. How long is it before we start seeing headlines that include “State Bankruptcy”? On its current path, the United States could not possibly meet all of its future obligations. And the end game could mean collapse. That means as an investor, you need to get your ducks in a row. The

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The End of the U.S. Dollar

The End of the U.S. Dollar

Much of my investing decisions over the past ten years have been guided by watching the U.S. governments abuse the dollar into its current near-worthless state. This has brought me to one basic conclusion… Politicians, on both sides of the aisle, are not trustworthy or credible individuals. They are power seekers, liars, hoodwinkers, and bamboozlers. They’ll do and say anything to get you to hand your power over to them— i.e. vote them into office. And until a majority of Americans come to this understanding, nothing can fundamentally change within the country. Unfortunately, it may be too late to save the U.S. dollar. The truth is the unsustainable economic course that has been pursued (and continues to be pursued) by the politicos in the United States may have financially doomed the country. The two-party system of republican and democratic criminals that has been put in charge of running the U.S. the past 40 years has failed you. Whether they did it on purpose or not, the system is dying on the vine. The problems that stem from four decades of out-of-control spending on the part of the Congress are cleverly being covered up. Their methods for keeping the public in the dark while promising unsuspecting voters lavish gifts from the public treasury are three-fold: Increasing deficits. Increasing monetary expansion of the fiat currency. Lying about and falsifying the real economic numbers. Because the voters don’t keep the politicians accountable, a false sense of prosperity reigns over the country as this fiat money pulses through the economy. Meanwhile, government officials are given accolades instead of being punished for their transgression. Hell, they gave Obama the Nobel Peace Prize! The problem, in a nutshell, was outlined with surprising clarity a few weeks ago by none other than Fed bankster Ben Bernanke himself as he addressed Congress… He spoke on the looming fiscal crisis of the Federal government; basically, there will be no easy way to avoid it. Congress has to decide what spending to cut. This means Congress must decide which special interest groups to alienate. Then they must decide which taxes to raise. Economic reality is standing on our doorstep Congress has been deferring this two-part decision ever since the Johnson Administration. One republican and democratic administration after another have played kick the can, opting in every case to push the problem into the future for others to deal with by simply creating more money out of thin air and pumping it into the system. Unfortunately, the time has come for the United States to pay for the consequences of this abuse. The national debt in the U.S. is now approaching $14 trillion— if you believe in trusting the government’s numbers. The unfunded debts of the U.S. are over $50 trillion. In reality, both of these numbers are grossly understated through government shenanigans, but you get the point. There’s no way either of these debts will ever be paid off. They’ll have to be…

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Why Soaking the Rich Doesn’t Work

Filed in Debt, deflation, democrats, inflation, lead, o, recession, revenue, Spot Gold, US Dollar by on November 8, 2010 0 Comments

Last week’s episode of 60 Minutes featured a 13-minute segment on “taxing the rich” in order to cure the government’s debt problem. In addition to being an outrageously biased story, the coverage was filled with more economic fallacies than I can address in a single article. “Progressive” Income-Tax Codes Lead to Volatile Revenues In the opening moments of the segment, correspondent Lesley Stahl explains “eight states have increased so-called millionaire income taxes so far as a way of avoiding drastic budget cuts.” Of course, many of you reading this really mean it when you say theft is wrong, and that a majority cannot justly take an individual’s property, even if they plan on doing something nice with it. On this score, raising taxes is wrong for purely ethical reasons. Unfortunately, most Americans don’t endorse this way of thinking, and so, in the present article, I’ll focus on pragmatic arguments. In the first place, Stahl had to use the qualifier “so-called millionaire income taxes” because not all of the high surcharges kick in at that level. According to this compilation, only two states — California and Maryland — actually have a bracket for people making at least $1 million. The term in practice simply means a high tax rate for people earning big incomes. For two examples, Connecticut’s income tax has three brackets: 3 percent on incomes below $10,000, 5 percent on incomes between $10,000 and $500,000, and 6.5 percent on incomes above $500,000. New Jersey has a similar state-income-tax code, with the first five brackets jumping modestly up through $75,000 in income, but the sixth and highest tax rate kicking in at $500,000. To be sure, someone making, say, $550,000 per year is not on the verge of starvation. Yet it’s not clear that such a person is a “millionaire” either, especially if he is young, has kids, and works in a big city with a high cost of living. The very term “millionaire tax” — which conjures up landed aristocrats who sip martinis on their yachts instead of going to work every day — is misleading. Beyond the deceptive terminology, the policy of “socking it to the millionaires” actually exacerbates the boom-bust cycle in state-government revenues. As I explain in this policy paper, what …

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The Ten Things You Should Be Doing NOW and Everyday

Filed in deflation, depression, Spot Gold by on September 24, 2010 0 Comments

“Must Do” #1: Stay Alert and in the Know. For the last fourteen weeks, we’ve examined the new economic realities that confront us on a daily basis. Our discussions have centered on a groundbreaking documentary, “The Fall of America and the Western World” which let us in on the thoughts, principles and policies of right wing, left wing, centrist and independent economic and political thinkers. Each week we’ve offered practical advice on things you can do to prepare for further economic deterioration and ultimately, your survival. This marks the last of our articles — we thought it would be advantageous to summarize our previous tips on what you should be doing starting right now and going forward to best position yourself to keep your head above water… TIP ONE: Get Real. You must realize you are being lied to by the media, the politicians and the experts. If you don’t accept this reality, then you will not be serious in your efforts to change your situation. TIP TWO: Be Prepared. Figure out what you’ll need to survive and examine what you have. This will tell you what you don’t have. Start a plan so you can get what you need, but don’t yet have. TIP THREE: Become Self-Sufficient. The more dependent you are on others, the less likely your chances of survival. Start with the basics: food and water. Do you have a plan for feeding yourself if the food supply chain breaks down, supermarkets go out of business and your cupboards are bare? TIP FOUR: Be Secure. As things get worse, those that have will become targets of those who have not. Is your home secure? Are you hiding your “wealth” and looking poor? Are your assets easy to get to but securely protected? TIP FIVE: Get Off the Grid. As resources dwindle a steady, reliable source of power will become a necessity. Solar, wind and hydropower are all within the reach of the individual, depending on your location. Transportation needs also must be considered, especially if you are reliant on public transit. Do you have a bicycle? TIP SIX: Get Out of the Dollar. You will need an emergency fund. Dollars are not the currency you want this fund in. Think precious metals and buying a safe to store them in as your bank may not be around much longer. TIP SEVEN: Think Individually, Act Privately. Be brutally honest about your skills. If your skill set will enable you to do…

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The Climate Fix is “in”

Filed in Gold, Gold Spot Market by on September 13, 2010 0 Comments
The Climate Fix is “in”

The Climate Fix: What Scientists and Politicians Won’t Tell You About Global Warming is now available at Amazon.com Why has the world been unable to address global warming? Science policy expert Roger Pielke, Jr., says it’s not the fault of … Continue reading →

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Gold, Global Fracking, and Frontier Markets

Filed in Debt, euro, Gold, Gold Holdings, Gold Market, Gold Prices, recession, sov by on September 2, 2010 0 Comments
Gold, Global Fracking, and Frontier Markets

It’s time to stop the whining on housing, jobs, and banks. If you don’t like the current state of affairs in Washington and the politicians’ cozy relationship with Wall Street — then vote the bums out. If you don’t like the way the fiscal picture has shaped up — then stop believing the banksters and find a better place to invest. One of the great wonders of capitalism is that when one person, group, or company is mired in foolishness and fraud, there is always some up-and-comer waiting in the wings to take them off their high horse. In other words, there’s always a bull market somewhere. Here are three profitable trends to invest in today. Advertisement How to Get Your FREE “Options for Dummies” Guide Think trading options was just for the most seasoned investors? Think again. Options guru Ian Cooper has put together a free report showing YOU how to easily profit from one of the most lucrative investment strategies out there. Click here now to access your free guide and start making money today. Three Bullish Trends: Gold, Global Fracking, and Frontier Markets Gold is about to break out… That, my friend, is called an ascending triangle. The fears of a prolonged recession, disgust with the Wall Street shills, and continued monetary easing have investors buying gold to protect their wealth. If we break above the level set in June, we are off to the races. The rule of thumb in breakout patterns is that they go up as far as they went sideways. That would put the price chart around $1,500 per ounce. Gold hit $1,254.73 yesterday— but the crucial turning point is the June 21st level of $1265.30 which was its all-time high. Bloomberg reported that gold holdings in 10 exchange-traded products advanced to a record yesterday. “In the second quarter, investors purchased 291.3 metric tons in exchange-traded funds, boosting demand by 36 percent.” That could be the energy needed to break through to a new high. If you look at the ten-year chart, you’ll notice that gold rises in a stair-step pattern; it consolidates, then launches. New highs are always bullish and breakouts are a buy. The magic number is $1,265. Global fracking According to the Energy Information Administration, there are 1,744 trillion cubic feet of technically recoverable natural gas in the U.S.— enough to supply the country for 90 years at current rates of production. Fracking involves pumping water or sand into the ground, breaking up the rock, and recovering the natural gas. Right now the threat to ground water has some environmentalists up in arms, but it hasn’t stopped the growth in exploration and development around the world… The fact is that there is a lot of natural gas— and it’s a viable replacement for coal for use in electricity generation. It is cheap, plentiful, and the cleanest burning of all hydrocarbon-based fuels. Europe is particularly eager to gain new natural gas sources as they have been held captive to Russia’s supply …

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Sen. Harry Reid key player in Big Pharma’s control over Washington

Filed in gld, Gold, health care bill, lead, Ron Paul, ubs by on August 13, 2010 0 Comments

Mike Adams Natural News Aug 13, 2010 Corruption in Washington is nothing new. Lobbyists for special interests have been padding the pockets of amoral politicians for longer than most of us have been alive, and they’ve been doing so with the help of a controlled media that rarely presents the facts without shrouding them in terms of “left” or “right” in order to confuse people. But as you’ll see in this story, the corruption goes far deeper than most people realize, and a perfect example of this is the dishonorable legacy of Nevada Senator and U.S. Senate Majority Leader, Harry Reid. Reid was recently exposed for accepting large sums of money from Big Pharma in order to craft and guide the recently-passed health care bill in Big Pharma’s favor. Reid’s political career dates back to the 1960s. He’s been a member of Congress since 1982, and a Nevada Senator since 1986. And since the early days of his career, Reid has been accepting contributions from lobbyists as payment for political favors. One of the earliest stories I found about Reid accepting money from lobbyists is a 1987 Washington Post article about how Reid and several other Nevada politicians had accepted money from mob sources that had connections to the Nevada gaming industry . (The full text of the article is available for purchase, but the part about Reid is visible in the abstract for free). In 2006, Reid ranked tenth in Judicial Watch’s Ten Most Wanted Corrupt Politicians . According to the allegations, he failed to report a $700,000 land deal to Congress, and accepted $30,000 in bribe money from Nevada Indian gaming. Again in 2007, Reid made the same top ten list . This time, according to a report in the Los Angeles Times that year, Reid abused his power in Washington to negotiate a lucrative real estate deal for developer Havey Whittemore. The same report explained that Whittemore had contributed “tens of thousands of dollars” to Reid’s campaign, and hired Reid’s son, Leif, to act as the company’s lawyer in order to “negotiate” the deal with federal officials. Having A Supply Of Healthy Foods That Last Just Makes Sense There are likely other historical scandals involving Reid, but these should give you a taste of the type of activities in which you might typically find him engaged. (And you may want to check out Judicial Watch for yourself to see who else is on these lists; you might be surprised to see that politicians from both sides of the aisle regularly appear there). But the biggest issue I want to bring to your attention is Harry Reid’s open and obvious connections to Big Pharma, particularly in relation to the recent health care bill. This is perhaps the most damning and far-reaching scandal in Reid’s history yet, illustrating just how powerful Big Pharma is when it comes to controlling Washington for its own gain. Big Pharma used politicians like Harry Reid to steer health care reform According to a recent Washington Examiner article , Big Pharma has had its tentacles deeply intertwined in health legislation for years, and the industry has been involved in virtually …

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Government Has Run Amok Since 9/11

Filed in Bank Gold, gld, Gold by on July 29, 2010 0 Comments

Those who understand the exploitative nature of big government suspected that the U.S. response to the 9/11 attacks had little to do with the security of the American people and much to do with power and money. Still, the magnitude of the scam, as revealed by the Washington Post last week, is astonishing. Naturally, the politicians justify the growth in intelligence operations on national security grounds. To make sure such attacks never happen again, they said, new powers, agencies, personnel, and facilities were imperative. Now the truth is out: the post–9/11 activity has been an obscene feeding frenzy at the public trough. Any resemblance to efforts at keeping Americans safe is strictly coincidental.

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President Obama is Wrong: Why Fossil Fuels Remain the Future

Filed in Gold, GOld juniors, lead, recession by on June 16, 2010 0 Comments
President Obama is Wrong: Why Fossil Fuels Remain the Future

Three quarters of the way through his snooze-fest of a speech last night, Barrack Obama said: A larger lesson is that… drilling for oil these days entails greater risk. After all, oil is a finite resource. We consume more than 20 percent of the world’s oil, but have less than 2 percent of the world’s oil reserves. And that’s part of the reason oil companies are drilling a mile beneath the surface of the ocean — because we’re running out of places to drill on land and in shallow water. I have no problem with this. It is absolutely true. Here at Angel Publishing, we’ve been preaching this message for more than five years. In fact Brian Hicks, the owner and publisher of Angel, wrote the book on it— Profit from the Peak: The End of Oil and the Greatest Investment Event of the Century . But this I do have a problem with… The president went on to say: For decades, we have known the days of cheap and easily accessible oil were numbered. For decades, we’ve talked and talked about the need to end America’s century long addiction to fossil fuels. And for decades, we have failed to act with the sense of urgency that this challenge requires. That’s because there is no way America can end its addiction to fossil fuels. Solar, geothermal, and wind power just aren’t there yet. According to RAND, they now represent 6% of all energy. In 2025, renewables are projected to provide 25%. That means in 15 years— by even the most optimistic forecast— we will still have 75% of our energy coming from fossil fuels: oil, natural gas, and coal. Yes, you can build more nuclear power plants… and the Obama administration is pushing for that. But plant construction could take from three years to forever to be up and running. The “not in my back yard” philosophy is a high hurdle to clear. We need fossil fuels According to the latest United Nations Statistics data, the United States is still the world’s largest manufacturer, with an output of $1.83 trillion. (China remains number two at $1.79 trillion.) And you still need cheap energy to add value to products. Nor is there a feasible wind, solar, or geothermal transportation…

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The Greek Drama Unfolds – Analyst Blog

Filed in Debt, economy, euro, Gold, Gold Investing, Gold Prices, sov by on April 28, 2010 0 Comments
The Greek Drama Unfolds – Analyst Blog

S&P downgraded Greek debt by three steps to BB+, which puts it firmly into the Junk category. This is about as big a surprise as when they put subprime mortgages on a 12-step program, long after the markets had figured out that most of them were total crap. Somewhat more surprising, but not shocking, was a two-step downgrade of Portugal to A-. That is still investment grade, but is pretty shaky for a sovereign credit. The markets have figured out that Greek debt has problems, but the downgrade caused rates to rise even further for Greek debt, with its two-year paper yielding over 26% at one point. That means the markets think that Greece is the worst credit risk in the world, even worse than Venezuela. (OK, there are several countries that can’t float bonds at all, and are 100% dependent on World Bank financing — places like Upper Volta — but they really are in a different category altogether.) The downgrade of Portugal was the thing that really stoked the fears of contagion. While Portugal is still treated with far more respect in the markets than Greece is, things are rapidly going the wrong direction. Yesterday the yield on the Portuguese two-year note jumped 93 basis points to 6.24%. Another one of the PIIGS ( Portugal, Ireland, Italy, Greece and Spain), Ireland, also saw a big jump in its two-year paper, rising by 90 basis points to 4.64%. Just as a point of reference, yesterday U.S. 2-year T-notes were yielding 0.95%, or roughly the one day increase in rates in Portugal and Ireland. Most of the bailout funding for Greece is going to be coming from Germany, where the deal is extremely unpopular. Incidentally, Germany has elections coming up, and German politicians are just as sensitive to such things as our politicians are. Here in the U.S., there is still widespread opposition to having bailed out our own banks, even though doing so saved us from a second Great Depression, and the ultimate cost is proving to be FAR lower than anyone thought it would be at the time the funds were voted on. Still, Germany can handle one bailout, but two? If it goes to two bailouts, who is to say it will stop there? Greece and Portugal are pretty small fish, but if they go down, it increases the odds that countries like Spain and Italy could follow. I still think that some sort of arrangement will be worked out for Greece, but time is running out, since on May 19th they have an 8.5 billion Euro bond payment due. There will be a lot of pain involved in any such arrangement, both for creditors and for the people of Greece. One of the better measures of how much trouble the market thinks a country is in is the price of insuring against default by the banks in the country. The graph below (from http://krugman.blogs.nytimes.com/2010/04/27/the-cohesion-crisis/ ) shows that the market has very real concerns about the Iberian Peninsula, but is still pretty confident about Italy, France and Germany. If the rate for Greece were shown on the same chart, it …

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The Real Reason for Our High Unemployment Numbers

Filed in economy, Gold Bullion prices by on April 16, 2010 0 Comments

How bad is the economy? With a record percentage of the unemployed out of a job for more than six months, the media and politicians are claiming that the economy is in crisis. Politicians are again rushing to keep extended unemployment insurance benefits in place. The only serious debate among politicians was over how the benefits should be financed: should the program be paid for with spending cuts or tax increases or should we add to the deficit to cover the expense. And the Democratically-controlled Senate has passed the extension on Thursday by borrowing more money. President Obama signed it… Original Article: Forum: News/Activism

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