Saturday, March 31, 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...