28 Jul 2012

James Holmes' Likely Murders Overshadow Father Robert Holmes' Libor Testimony Or Does It?

By : I keep looking but cannot independently verify this. If it is a hoax, who did it, because that could be an even bigger story. The money-laundering info. is definitely verified.
5:30am EST update: After intermittently searching late last night I find that Tree of Liberty reports that the initial source for the testimony claim was Sorcha Faal, and if so I am glad for my disclaimers. I am also glad I ran this because now we can start to get to the bottom of why these things happen and *perhaps* who is behind them......
OR NOT.....

Marc Faber: Market Forces Will Prevail

Colorado Shooting Patsy Was Under Air Force Shrink

This whole tragedy is covered with all the hallmarks of a staged event. Now we learn that the "shooter"AKA the clown patsy was under the care of a top air force psychiatrist. Source

Hang 'Em High! "The Banksters and the Lame Stream Media" Max Keiser and Stacy Herbert + On the Edge: Fictitious capital with Michael Hudson

Max Keiser presents a 'double header' with co-host, Stacy Herbert, to discuss crime and punishment in the financial sector.

Harvard Study Finds Fluoride Lowers IQ

"Significantly lower IQ than those 
who live in low fluoride area."

Should Crimes of Capital Get Capital Punishment?

By Jason Zweig: Overheard in midtown Manhattan at the lunch hour:
“Another day, another financial scandal. New regulations, prosecution, getting hauled up in front of Congressional hearings – nothing seems to stop it.”
“Maybe we need to try something more drastic.”
“Like what?”
“Well, there’s always the death penalty.”
Unfortunately, that’s been tried, too – and found wanting. Financial criminals throughout history have been beaten, tortured and even put to death, with little evidence that severe punishments have consistently deterred people from misconduct that could make them rich.
The history of drastic punishment for financial crimes may be nearly as old as wealth itself. The Code of Hammurabi, more than 3,700 years ago, stipulated that any Mesopotamian who violated the terms of a financial contract – including the futures contracts that were commonly used in commodities trading in Babylon – “shall be put to death as a thief.” The severe penalty doesn’t seem to have eradicated such cheating, however.
In medieval Catalonia, a banker who went bust wasn’t merely humiliated by town criers who declaimed his failure in public squares throughout the land; he had to live on nothing but bread and water until he paid off his depositors in full. If, after a year, he was unable to repay, he would be executed – as in the case of banker Francesch Castello, who was beheaded in 1360. Bankers who lied about their books could also be subject to the death penalty.

Current Liquidity In System Risks Hyperinflation - Art Cashin on KWN

“By standards, the amount of liquidity that’s around the globe should be hyperinflationary.  It is not.  It is because when Bernanke flies over your house and drops millions of dollars in fresh cash on your lawn, you are so terrified you pick it up and store it in the garage.  They’ve got to find a way to unlock all of that liquidity in the garages around the globe. 

This is a very, very different time than virtually anything we’ve seen before.”

The Upside of Default - The Archdruid Report

Writing The Archdruid Report has its pleasures, and one of them is the wry amusement to be had when some caustic jab of mine turns into an accurate prediction of the future.  Longtime readers may recall a comment of mine late last year to the effect that ordinary investors would surely find some way to pile into the shale gas bubble before the next year was out. Thanks to an anonymous reader and the August 2012 edition of SmartMoney Magazine, which arrived from said reader in yesterday’s mail, that comment can now be moved over into the "confirmed" category.

The prediction, to be sure, didn’t require any particular clairvoyance on my part.  Its sources are, first, a decent grasp of the history of economic stupidity, and second, a keen sense of the levels of desperation in what we might as well call the investmentariat, the people who have a little money and are looking for a safe place to put it.  The investmentariat has been told for decades that their money ought to make them money, but nobody told them that this only works in an economy that experiences sustained real growth over the long term, and nobody would dream of mentioning in their hearing that we don’t have an economy like that any more.

Doug Casey on Crisis Investing, Political Risk, and a Benign Anarchy!

The US economy slowed in the second quarter: GDP rose at 1.5% on an annualized basis according to the Commerce Department. The Wall Street Journal points out that this current economic 'recovery' is the second weakest rebound post World War II. Cue speculation about the Federal Reserve taking more action, or talk of how government GDP numbers aren't reliable anyway.

Olympics 2012: Policeman assaulting and pepper-spraying a disabled man on a tricycle - Mass arrests as London Police Attack cycle ride

London police have used pepper spray against a “Critical Mass” cycle ride as the British capital holds the opening ceremony of the 2012 Summer Games. “Large number of people” arrested said a police tweet. "A number of people in breach of regulations imposed on a monthly cycling event have been arrested," a spokesman for Scotland Yard said. According to some reports at least 50 people have been detained and their bicycles loaded onto special buses parked nearby.
Critical Mass is a cycling event typically held on the last Friday of every month all around the world. Earlier there have been calls on the Internet to stage the London ride on July 27 as an anti-Olympics protest.
Scuffles occurred near the Olympic Stadium on the outskirts of the Olympic Park with participants saying they were being “kettled”.

G4T: Not Just Christian Bale, We All Have Blood on Our Hands

My Response to a Gold Hater - Michael Krieger

So this morning, I woke up to an email forward from someone that used to be a client.  The forward was an anti-gold rant from a sell-side (Wall Street) broker who will remain unnamed.  The piece was so biased and ridiculous I took the time to write a somewhat lengthy response.  I am not going to include this person’s message since it is the property of his employer, but you can tell his arguments based on my answer.  Hope this helps anyone that feels the need to make the bull gold argument cogently to a sheeple should you run into one in the wild.
My email:
Only someone on Wall Street could write something so foolish.  It is so easy to pick this guy’s arguments apart it is not even funny.  First, he claims gold has no intrinsic value.  I’d love for him to define what “intrinsic” value is?  So let’s say a painting is just a piece of canvas with a blue solid image on it.  It may look like nothing or garbage to me but others may see brilliance and pay $5 million for it in the market.  Because I look at it and see junk does that mean it has no intrinsic value?  Gold has been the money of Kings for 5,000 years and even in the “modern” world it remains the asset people gravitate to as a store of value.  I’d say having high value consistently for the entire span of human civilization gives it intrinsic value.  It has value as alternative money and a store of wealth.  That is the value of gold.  Also why are regulators considering making gold a Tier 1 asset if it has no value and is archaic.  See here.  Finally, no one put it better that the fiat pimp himself Alan Greenspan in his article “Gold and Economic Freedom.”