2 Mar 2012
My Dear Extended Family,
The history of this period will focus attention on two economic clutch type events. These events will have mandated the need for the construction of a new monetary system utilizing a virtual reserve currency traded only by central banks. This reserve currency will be related to gold via a global Western world M3.
An economic clutch type event is one that by its occurrence allows the world to shift gears and change into a new economic velocity and direction.
The first economic clutch event took place when the decision was made that the US Federal Reserve and US Treasury would not support a rescue of the prestigious investment firm of Lehman Brothers. By doing this, they threw that institution and all of its transactions in which it was the deficit other party into default via bankruptcy.
Submitted by Tyler Durden: Not the US Dollar of course: why would the only country to successfully overthrow the chains of banker tyranny and default in their face want to ever have anything to do with the USD, the source of all the world's problems. No, the dollar in question is that of Canada. According to the Globe and Mail tiny Iceland, "is looking longingly to the loonie as the salvation from wild economic gyrations and suffocating capital controls...And for the first time, the Canadian government says it’s open to discussing idea. There’s a compelling economic case why Iceland would want to adopt the Canadian dollar. It offers the tantalizing prospect of a stable, liquid currency that roughly tracks global commodity prices, nicely matching Iceland’s own economy, which is dependent on fish and aluminum exports." Yes, yes, there are all the fundamental reasons, but more importantly, it is a huge slap in the face of those statists (and the United States of course) who keep repeating no matter the facts that the USD will never lose its reserve status. Here's a hint: it can and it will. And so much for the thought experiment of printing endless amounts of currency in non-reserve format and getting away with everything unpunished. Finally, there is this startling dose of reality from an earlier and calmer time, when S&P, back in 2006, released its long-term baseline scenario of sovereign debt ratings. This oddly prescient table speaks for itself.
Filmmaker Steve Bannon told Sean Hannity tonight that the Breitbart group is going to release the Obama Harvard tapes in a week to ten days. Andrew Breitbart announced at CPAC that he was given tapes of Barack Obama from his college years that would be devastating. Source
A Greek brainstorming session would sound something like this: Default! Downgrade! Bond Swap! ECB Bailout! Austerity Measures! IMF Recipes! Riots! Euro Collapse! Pay up!! Can anybody make any sense out of this??
Let’s try… Because it’s a question of joining the dots… correctly!
First and foremost, Sovereign Debt “Crises” explode, then collapse only to “resurrect” bigger and fatter according to a Model: let’s call it “The Shylock Model” after William Shakespeare’s despicable Usurer in “The Merchant of Venice”: Shylock loaned money to Antonio, a Venetian Merchant, demanding he sign a bond pledging a pound of his flesh as collateral…
Twitter has sold billions of archived tweets believed to have vanished forever. A privacy row has erupted as hundreds of companies queue up to purchase users’ personal information from the new database.
Every time you use social networks you become mere product – it’s an idea we will all have to get used to. So, should we give up worldly goods and hide in a Tibetan monastery till the end of our days, or start putting up a fight to protect our privacy? In the latest in a long series of scandals over social networks that profit from our private data, the UK-based DataSift firm has announced that is has bought every tweet posted since January 2010. The business intelligence and data-mining platform will be the first company to offer the archive for sale.
A shocking video has appeared on the Internet showing Libyan rebels torturing a group of black Africans. People with their hands bound are shown being locked in a zoo-like cage and forced to eat the old Libyan flag.
“Eat the flag, you dog. Patience you dog, patience. God is Great,” screams a voice off-camera
Gold has emerged as one of the few winners from the financial crisis. Turbulence across markets globally and returns of next to nothing on cash over the past two years saw investors pour money into bullion. As a result, the gold price soared and Evy Hambro's BlackRock Gold & General fund saw inflows of nearly £1.5bn in the past 24 months alone, bolstering the fund to £3.4bn.
The best performing commodities manager tells us the gold rally is far from over.