Thursday, October 04, 2012

Marc Faber & Jim Rogers On Our "Clueless, Ignorant, Dangerous" Leaders

Tyler Durden's picture While the discussions between these two legends varied from Phat Phong nightlife to Dow 30,000, and from China bullishness to AAPL bearishness, it was the conversation about the actions of Bernanke, and more importantly our political leaders that summed up perfectly the dreadful reality in which we find ourselves. The punchline: "It is very dangerous to have ignorant people believing that they know something."

Rogers is bullish China long-term but buying Chinese stocks only selectively...
Faber sees under-the-surface weakness in US equities and while central banks could print us to Dow 30,000; gold and other commodities will be astronomical by then...
Faber is bearish AAPL, believes its a bubble - but too dangerous to short...
Both are uber-bearish central-bankers and politicians...
Marc Faber: "Both candidates are clueless and completely artificial..."

Jimmy Rogers: "It's worse than clueless, because they think they know what they're doing.. and so they are dangerous! If they were just clueless and looked out the window, we wouldn't have a problem, but they think they have the solution - but their solutions are what's making the situation worse..."

Marc Faber: "That is precisely the point. It is very dangerous to have ignorant people believing that they know something!"
Summed up perfectly, we believe.

Must watch - especially to hear the CNBC anchor squirming...

"Sacks of Shit!" Cadavers Collateralized Debt - Max Keiser with Dr. Michael Hudson

Max Keiser and Stacy Herbert bring a bankster rat onto set to discuss the civil suit against JP Morgan's mortgage fraud. We revisit episode 97 of the Keiser Report on which journalist Teri Buhl had first warned you about the residential mortgage back security fraud issue on JP Morgan's balance sheet - thanks to their purchase of Bear Stearns. In the second half of the show, Max Keiser talks to Dr. Michael Hudson, author of The Bubble and Beyond: Fictitious Capital, Debt Deflation and Global Crisis, about Timothy Geithner's role in facilitating the takeover of the banking system by the Wall Street mafia and about the oligarchic counter revolution against democracy in Europe. Source

'Who let Al Gore out of his cage?' Blames Obama Debate Disaster on the Altitude!

By Michael Krieger: Need a laugh?  Al Gore went on television and blamed Obama’s horrific performance during the debate last night on the altitude!  This is epic.  So according to Al Gore we should be very concerned should Obama negotiate any deals with any leaders in the capital cities of La Paz, Bolivia (11,942 ft); Quito, Ecuador (9,350 ft); Bogota, Columbia (8,612 ft); Mexico City, Mexico (7,350 ft) and Nairobi, Kenya (5,889 ft).  For comparison Denver is 5,280 ft above sea level.  For a full list of capital cities Obama should avoid if he gets a second term go here.
I have also figured out why our policy in Afghanistan is such a disaster.  Kabul is higher than Denver at 5,873 ft.
Who let Al Gore out of his cage yesterday?  Watch the video below and have a laugh! Source

'Eternal Life Does Not Violate the Laws of Physics' - US Futurologist Michio Kaku

In his best-selling book "Physics of the Future," American professor Michio Kaku lays out his vision for the world in 2100. Kaku, the son of Japanese immigrants, spoke to SPIEGEL about a future in which toilets will have health monitoring sensors and contact lenses will be connected to the Internet.

SPIEGEL: Professor Kaku, in your book you write about how we will be like gods in the future. Are you saying that our grandchildren will be gods? Isn't that a bit immodest?
Kaku: Just think for a moment about our forefathers in the year 1900. They lived to be 49 years old on average and traveled with horse-drawn wagons. Long distance communication was yelling out the window. If these people could see us today with mobile phones at our ears, Facebook on our screens and traveling with planes they would consider us wizards. SPIEGEL: It's still a big step to go from wizards to gods.
Kaku: So what do gods do? Apollo has unlimited power from the sun, Zeus can turn himself into a swan or anything else and Venus has a perfect body. Gods can move objects with their mind, rearrange things, and have perfect bodies. Our grandchildren will be able to do just that.
SPIEGEL: Let's do a little time traveling. Close your eyes and imagine waking up on a September morning in the year 2112. What do you see?
Kaku: More important than what I see, is what will be omnipresent. Intelligence will be everywhere in the future, just like electricity is everywhere today. We now just assume that there's electricity in the walls, the floor, the ceiling. In the future we will assume that everything is intelligent, so intelligence will be everywhere and nowhere. As children, we will be taught how to manipulate things around us just by talking to them and thinking. Children will believe that everything is alive.

"Deliberate NATO Provocation False Flag" Syria Does Not Want a War With Turkey - Ziad Fadel

Morris: Syria Will Not Be The West's Failed State. If a War with Turkey developed then Iran and the Russian Bear would enact their military obligations and support Syria. Source

Greek shipyard workers clash with police, storm Defense Ministry complex


About 250 shipyard workers stormed the Greek Defense Ministry in Athens on Thursday, demanding to be paid their wages and calling for an audience with the Greek Defense Minister.
The shipyard workers were from the Hellenic Skarmangas shipyard. Furious over not having been paid for six months, they chanted “We want solutions, not layoffs!" according to a Reuters report.
The protestors forced their way past security guards, and streamed into the compound. Scuffles broke out between police officers and protestors. Greek television aired video of police officers beating protestors with batons, leaving their faces bloodied. There have been reports on Twitter that 70 protestors have been arrested.
General Mihail Kostarakos tried to calm the protestors, but departed to a chorus of boos. Defense Minister Panos Panagiotopoulos was not at the ministry on Thursday.
The protests come amidst a new series of austerity measures that the Greek government is enforcing in order to try and curb its spending in the hopes of winning a new bailout package from the European Union.
The Greek government has also been withholding pay to its contractors in an attempt to save money.
The Hellenic Skarmangas shipyard mainly works on naval contracts on order from the Greek government, according to the Wall Street Journal.

Protesters run to escape arrest during clashes with riot police in the courtyard of the Defence Ministery in Athens.

The Rise Of Global Central Planning

Tyler Durden's picture There was a time when the world had (somewhat) free markets. Then Lehman failed as the inevitable culmination of a credit bubble that was second in size and severity only to the one being blown currently, and the central planners took over, converting equity, bond and FX markets into nothing but monetary policy tools dominated by central banks. Below is a great summary of how parallel to SkyNet's HFT takeover of stock trading, the central planners conducted their own not so stealthy take over of all capital markets. The chart is open-ended. Expect much more intervention by the Big 4 in the months and years ahead as the circular nature of increased central bank intervention leading to less faith in financial markets leading to increased private sector deleveraging leading to increased-er central bank intervention and so on, accelerates.
Meet the 4 unelected dictators of the no longer even pretending to be free "developed" world.

Source: Goldman Sachs. Source

 banzai7

CNN Insider: CNN is A Hoax

If you've been paying attention, you know that the American media act as presstitutes for rich and powerful Americans. But it turns out that the American media will turn "tricks" for foreign johns as well ... Specifically, three time Emmy award winning reporter Amber Lyon was until very recently a respected CNN reporter:

Lyon was fired from CNN after she refused to stop reporting on her first-hand experience of the systematic torture and murder of peaceful protesters by the government of Bahrain. Lyon's special report on Bahrain was scheduled to run on both CNN's U.S. and international networks, but was pulled after only a limited showing due to pressure from the Bahrainis and their lobbyists. At the same time that Lyon was risking her life to do on-the-ground reporting in Bahrain, another CNN journalist was filming a paid propaganda piece on how the Bahraini leaders are a bunch of friendly pro-democracy reformers.

That's right ... the Bahraini government paid CNN to do what was literally an infomercial for that brutal regime and pretend it was real journalism.

Lyon says that China and many other foreign, authoritarian regimes also pay CNN and other mainstream networks to run flattering propaganda pieces.
Source

Will Georgia Threaten The Russian Bear - Orthodox Warrior

By : The opposition won the Georgian election but reports say that both sides are financed by Soros. Meanwhile the Russian bear prepares for a war first of all it is modernising the 58th army in the Southern military district and Moscow. Source

Gerald Celente: Psychopaths Run The Planet + the Presidential Reality Show and Lessons from the JFK Assassination


Hyperinflation Has Arrived In Iran

By Steve H. Hanke: Since the U.S. and E.U. first enacted sanctions against Iran, in 2010, the value of the Iranian rial (IRR) has plummeted, imposing untold misery on the Iranian people. When a currency collapses, you can be certain that other economic metrics are moving in a negative direction, too. Indeed, using new data from Iran’s foreign-exchange black market, I estimate that Iran’s monthly inflation rate has reached 69.6%. With a monthly inflation rate this high (over 50%), Iran is undoubtedly experiencing hyperinflation.
When President Obama signed the Comprehensive Iran Sanctions, Accountability, and Divestment Act, in July 2010, the official Iranian rial-U.S. dollar exchange rate was very close to the black-market rate. But, as the accompanying chart shows, the official and black-market rates have increasingly diverged since July 2010. This decline began to accelerate last month, when Iranians witnessed a dramatic 9.65% drop in the value of the rial, over the course of a single weekend (8-10 September 2012). The free-fall has continued since then. On 2 October 2012, the black-market exchange rate reached 35,000 IRR/USD – a rate which reflects a 65% decline in the rial, relative to the U.S. dollar.

Top-Down Feudalism: It's Not America Anymore - Brandon Smith


Many of us in the liberty movement find ourselves searching for a distinct root cause of the trials and tribulations of American culture — the Holy Grail catalyst that, if unraveled, would save this country and heal the septic wounds covering the landscape of our hobbled society. The obvious answer would be to remove the global elites who are poisoning the well from the picture entirely. Yes, this has to be done eventually. However, we must also identify how those elites have been able to so thoroughly con the masses of this nation for so long.
What inherent weakness has made us susceptible to manipulation? For this question, there are NO easy answers. But, if I had to choose a single frailty of our collective psyche as paramount to our downfall, I would say that Americans most of all are confounded by their own patriotism. We often embrace the ideal without knowing what it really means.
There are in fact two kinds of patriotism: the concrete, and the imagined. Many Americans fall haphazardly into the fantasy of being patriotic. They define patriotism upon the exploits of the mainstream and of the government in control at the time. They become cheerleaders for the establishment instead of stalwart champions of their country’s founding principles. In fact, true patriotism is NOT about blindly defending one’s nation or leadership regardless of its trespasses; true patriotism is about defending the philosophy that made one’s nation possible and prosperous in the first place — even if that means standing against the power structure in place today.