Posts tagged bubble
The Monarchs of Money
The world’s central banks have printed unimaginable amounts of money in recent years. Neil Macdonald explores what this means for the global economy and for your financial well-being.
Republished with permission.
On Monday, Ron Paul continued his examination of failed Fed policies in his latest “Texas Straight Talk”.
Dr. Paul said:
Although many were up in arms when the Fed said it would buy $600 billion in government debt outright for the previous round, QE2, all seems quiet about the magnitude of QE3 because it doesn’t come with huge up-front total price tag. But by year’s end the Fed’s balance sheet could hit $4 trillion.
With no recovery in sight, where’s all this money going? It is creating bubbles. Bubbles in the housing sector, the stock market, and government debt.
The stock market has been hitting record highs for the past two months as investors seek to capitalize on the Fed’s easy money. After all, as long as the Fed keeps the spigot open, nominal profits are there for the taking. But this is a house of cards. Eventually, just like in 2008-2009, the market will discipline the bad actions of the Fed and seek to find the real normal.
Here’s the full broadcast:
By Tyler Durden
In just under 30 minutes, Peter Schiff and Doug Casey muse on many facets of the crumbling edifice of the status quo that is our current world.
From Gold’s relatively imminent rise to $5,000 and beyond, to investor ignorance of reality, Casey & Schiff swing from discussions of the US as political entity going forward to ‘escape from America’ plans for personal and wealth assets, and the realization that the biggest casualty (of US indebtedness), aside from individual liberty, is the value of the dollar – as taxing the middle class is unpopular with both parties – leaving only one route for the government – the inflation tax. Owning gold, silver, and foreign assets is preferred and while the rest of the world is also printing, the US is likely to beat them all.
People “are clueless with respect to the true state of the global economy,” with regard to inflation, fiat currencies, and specifically what will happen to the dollar. The conversation is wide-ranging and absolutely must-see as they remind market-watchers that “the whole thing is artificial,” as you can’t just keep printing money and monetizing debt without the dollar imploding with monetary policy descending (along with its trillion dollar coin) into ‘Three Stooges’ comedy.
The conversation weaves to some endgame discussions which bring Peter to discuss his father, who he sees as a political prisoner, and his views on the future…
“the biggest change that is coming to the global economy is a realignment of global living standards.”
There is something here for everyone…
By Ben Protess
Federal prosecutors in New York sued Bank of America on Wednesday, accusing it of carrying out a mortgage scheme that defrauded the government during the depths of the financial crisis.
In a civil complaint that seeks to collect $1 billion from the bank, the Justice Department took aim at a home loan program known as the “hustle,” a venture that has become emblematic of the risk-fueled mortgage bubble. The complaint adds to a flurry of federal and private lawsuits facing Bank of America’s beleaguered mortgage business.
Bank of America inherited the “hustle” home loan program with its purchase of Countrywide Financial in 2008. Prosecutors say the effort, kept alive by Bank of America through 2009, was intended to churn out mortgages at a rapid pace without proper checks on wrongdoing. The bank then sold the “defective” loans without warning to Fannie Mae and Freddie Mac, the government-controlled housing giants, which were stuck with heavy losses and a glut of foreclosed properties.
Dave Hodges, Commonsense Show – Connecting the dots of Bayou Corne with BP oil leak. Methane traveling – “Louisiana Coast to be evacuated?”1
Dave Hodges, Commonsense Show – Connecting the dots of Bayou Corne with BP oil leak. Methane traveling – “Louisiana Coast to be evacuated?”
I have continually written about Bayou Corne and the situation there. Yesterday I had the videos up and the recent seismo graphs showing all the EQs going on.
Dave Hodges of the Commonsense radio show on Republic broadcasting, now has a website for his show. He is a friend of mine and I have been on his radio show a couple of times about the foreclosure fraud.
He wrote a hard hitting piece about Bayou Corne and the sinkhole there. He connected the dots to what has been going on in the Gulf of Mexico and the BP oil leak. He puts the corexit, methane and sinkholes together.
Remember Jesse Ventura’s Truth show about the billions that has been set aside to evacuate the Gulf Coast regions. The full episode is here on youtube.
He has given me permission to reproduce his article in full on this site about what he sees is happening.
Political language is designed to make lies sound truthful and murder respectable.”
The conditions in the Gulf Coast region are so bad, that some are actually talking about a mass evacuation of the coastal regions in Louisiana. Others think the potential devastation is so dangerous that the entire Gulf Coast region should be evacuated. Others think that all is well in the Gulf. What exactly is the truth?
I have been investigating the events surrounding the Gulf Coast oil explosion for over two years. As I sit here mulling over the evidence which is derived from the full spectrum of research protocols ranging from anecdotal evidence to scientific evidence to government acknowledgment of a series of crises which appears to be imperiling Louisiana, I do not pretend that I have all the answers. However, after systematically reviewing the available evidence, I am extremely fearful for the potential consequences which could be catastrophic for many of the 40 million residents in the Gulf.
This topic has largely been swept under the covers by the Obama administration and the mainstream media, with a few exceptions. In this article, it is my intention to bring forth legitimate concerns for public discussion with regard to the safety and welfare of Gulf Coast residents, especially for those people living in Louisiana’s coastal areas.
The government would have us believe that all is well in the Gulf. In fact, two years ago, the Environmental Protection Agency’s (EPA) through its air monitoring system, on June 10, 2010, presumably found air quality levels which were “normal” on the Gulf coastline. Of course this is the same EPA whose former director, Todd Christy, boldly stated that the post 911 air was fit to breathe. Also, in June 2010, Obama’s personal point man on the spill, Thad Allen, stated “the well no longer posed any threat to the Gulf” and subsequent cleanup crews ceased all remaining operations with regard to cleaning up the destroyed oil well. Thad Allen’s statement followed Obama’s declaration in which the President boldly proclaimed that the Gulf is safe and “open for business”. Officials from both the Food and Drug Administration (FDA) and the EPA echoed Obama’s safety claims. And what I have discovered from the data, is that everyone of these government individuals, who are entrusted with ensuring the safety of the general public, was lying through their teeth.
There were strong and early indications that the use of Corexit, combined with the leaking oil, were producing, both long term and short term, catastrophic environmental and individual health effects. Oil and Corexit, used to “disperse” the oil spill have impacted untold numbers of Gulf residents’ health. Additionally, both the food supply and the food chain are being adversely impacted. The air and the subsequent evapotranspiration cycle has been irreversibly altered which, in turn, impacts the water table and the safety of water supplies as well as the safety of crops. The most devastating finding relates the events of the oil spill to the phenomena of the ever-widening Louisiana sinkholes and the related underground explosions as well as the very high concentration of toxic and highly flammable methane in the air and in the water.
One of the major threats to the Gulf Coast comes from an imperiled food supply which is the result from the explosion on the Deep Water Horizon oil rig.
It was known very early on that the Gulf Coast food supply was severely compromised and the health of the residents was in jeopardy, despite government denials and mainstream media cover-ups. A case in point, while dining with his family at Vinnie’s Raw Bar Restaurant in the Charlotte, North Carolina area, Matthew Robertson found oil in his seafood. While covering the story, WBTV reporter Sarah Batista also acknowledged there was a black substance stuck to the inside of Robertson’s sea food. Additionally, Channel 8, Fox News, Winston-Salem, North Carolina, was told by Vinnie’s Raw Bar restaurant’s manager that he did, indeed, confirm the customer’s story and says he’s had problems getting oyster shipments because of contamination resulting from the oil spill, unfortunately, this station saw fit to scrub the report from its website. However, similar warnings regarding the region’s food safety are appearing up and down the local Gulf Coast media on such stations as WLOX TV in Gulfport, MS. Yet, Fox, CNN, CBS, ABC, NBC, etc., have not run one credible story on the dangers of food toxicity in the Gulf’s food chain. Granted, the abovementioned cases represent just a few anecdotal cases which are representative of tens of thousands of accounts. However, anecdotal evidence is not science and these cases could be discounted as the exception and not the rule. Yet, the largely ignored voices of scientists echo these anecdotal claims and they do so with hard, verifiable data.
Scientists at The University of Southern Mississippi and Tulane University have found oil in the post-larvae of blue crabs entering coastal marshes along the Gulf Coast signaling that oil may be entering estuarine food chains. Dr. Perry observed that “I have never seen anything like this.” Larvae is at the bottom of the food chain. Lesser life forms, are consumed by life forms which are higher on the food chain and the toxic effects of the Corexit will bioaccumulate throughout the food chain. This conclusion echoed the findings of lab samples taken by scientists at the Dauphin Island Sea Lab shows oil from the Deepwater Horizon disaster has made its way into the Gulf food chain as well. These particular scientists have found signs of an oil-and-dispersant mix under the shells of tiny blue crab larvae in the Gulf of Mexico which is a clear indication that the unprecedented use of dispersants in the BP oil spill has broken up the oil into toxic droplets so tiny that they have easily entered the food chain. These studies and other similar studies remain unchallenged by the authorities with regard to methodology and results. In short, the Obama administration is choosing to ignore these credible scientists by simply repeating the mantra that “all is well” in the Gulf of Mexico.
Austrian Economics Would Save Europe: Nigel Farage Debunks Keynesians
It’s a royal irony that if Brussels somehow found a way to impose political union on the people of Europe, anti-EU iconoclast and UKIP leader Nigel Farage would be its most popular candidate. His speeches regularly become YouTube hits. Widely scorned by British pundits as a xenophobic right-winger, scrolling down through the comments you see that ordinary citizens from Poland, Greece, Ireland, and right across Europe are thanking Nigel Farage for being the only one to speak truth to power.
In a world of grey civil servants, his speeches are rather like the hand that lifts the boulder to reveal the lice (or more accurately… lies) beneath. His latest, addressing the aptly-named Spanish “failout,” Nigel points out the folly of mutual indebtedness.
In this remarkable situation, Farage points out that bailing out Spanish banks makes things worse not better: ”A hundred billion [euro] is put up for the Spanish banking system, and 20 percent of that money has to come from Italy. And under the deal the Italians have to lend to the Spanish banks at 3 per cent but to get that money they have to borrow on the markets at 7 per cent. It’s genius, isn’t it?”
“Ron Paul invented the notion of a populist, activist, modern movement thats transpartisan” says Reason’s Brian Doherty
Brian Doherty sat down with ReasonTV to talk about his new book and how Ron Paul has changed politics in America. Doherty wrote about the evolution of the libertarian movement in his 2007 book “Radicals for Capitalism: A Freewheeling History of the Modern American Libertarian Movement”. He has been following and writing about Ron Paul and his movement since then. Doherty examines Ron Paul’s influence in a new book out May 15, “Ron Paul’s rEVOLution: The Man and the Movement He Inspired”.
Brian Doherty “documents the meteoric rise of Paul from relative obscurity to national prominence, and examines the fanatically devoted political movement that has arisen around him.”
Doherty spoke with ReasonTV in January while covering the Iwoa caucus to talk about Ron Paul’s campaign and the movement that has been built around him primarily over the past four years.
Approximately 3:30 minutes.
Produced by Sharif Matar
The time is NOW to take back our personal liberties and freedoms!
Ron Paul 2012: Restore America Now
Please visit Ron Paul’s official campaign site by following the link below and donate today!
By Jack Hunter
If there’s one thing I’ve been ticked off about in the last few weeks it’s the the lack of media coverage of the massive crowds Ron Paul continues to draw each stop he makes. I’m sorry, but even for reporters who’ve written Paul off–this is a story. Why does Ron Paul continue to attract such a vast audience? Why are his audiences so enthusiastic? What’s his secret? A few local news affiliates have asked these questions. The national media has ignored the entire phenomenon.
And make no mistake, it is phenomenal. What we’re witnessing with Ron Paul and his movement is an ideological and generational shift from the politics of old to a true message of liberty, prosperity and the promise of a better future. The other candidates in this race represent a broken status quo that many are still willing to endure, while Paul represents a new electorate that rejects that system wholesale. What Ron Paul is doing right now will continue to bear fruit for years to come, gauged not only by the various Ron Paul Republicans running for House and Senate seats (this year’s crop alone is shaping up nicely) but in Americans’ attitudes about government in general. Paul’s ideas have already shaped this race, something even his critics will admit.
The GOP establishment represents the past. We represent the future. Mitt Romney is running a campaign. Ron Paul is spearheading a revolution.
Coming off of victories yesterday in Colorado and Minnesota, the April 15th money bomb will give us the resources to take the revolution all the way to Tampa where our voices will not be ignored. The following grassroots video expresses well much of what I’ve said here. Dr. Paul really does have the best supporters in the world:
This is only the beginning.
Now more than every we need the Champion of the Constitution! Please visit Ron Paul’s official campaign site by following the link below and donate today!