13 Dec 2012

Marc Faber: "Paul Krugman Should Go And Live In North Korea"

Tyler Durden's picture If there is one thing better than Marc Faber providing a free, must-watch (and listen) 50 minute lecture on virtually everything that has transpired in the end days of modern capitalism, starting with who caused it, adjustable rate mortgages, leverage, why did the Fed let Lehman fail, why was AIG bailed out, quantitative easing, Operation Twist, where the interest on the debt is going, which bubbles he is most concerned about, a discussion of gold and silver, and culminating with his views on a world reserve currency, is him saying the following: "The views of the Keynesians like Mr. Krugman is that the fiscal deficits are far too small. One of the problems of the crisis is that it was caused by government intervention with fiscal and monetary measures. Now they tells us we didn't intervene enough. If they really believe that they should go and live in North Korea where you have a communist system. There the government intervenes into every aspect of the economy. And look at the economic performance of North Korea." Priceless. Source
50 minutes of Faberian bliss:

West Bank demonstration celebrates Hamas’ victory over Israel

Hamas’ supporters take part in a rally celebrating the 25th anniversary of the establishment of the Palestinian resistance movement in the city of Nablus in the north of Israel-occupied West Bank on December 13, 2012.
Press TV: Thousands of Palestinians have joined demonstration, staged by the Palestinian resistance movement of Hamas in the city of Nablus in the north of Israel-occupied West Bank, to celebrate the group's recent “victory” over Israel during Tel Aviv’s eight-day-long bloody war last month against the Gaza Strip.

Thursday’s demonstration, which coincided with the 25th anniversary of the establishment of Hamas, was the first of its kind authorized by the Palestinian Authority since 2007, AFP reported.

Some marchers carried wood models of the rockets fired at Israel during the war, which killed more than 150 Palestinians.

“Hamas - you are the guns; we are the bullets,” and, “Hamas, fire more rockets on Tel Aviv were heard during the demonstration.

“We are with Hamas, you are the gun and we are the ammunition,” read one banner.

Addressing demonstrators, Secretary-General of Ramallah-based Palestinian faction, Fatah’s Revolutionary Council, Amin Maqbul said, Hamas has given thousands of martyrs, prisoners, and wounded for Palestine."

S&P Cuts UK Outlook To Negative

Tyler Durden's picture The drainage of AAA quality collateral continues as S&P cuts it outlook on the United Kingdom to negative...
more as we get it... Source

Pentagon jobs go to robots

"Defense spending creates jobs" is an argument that politicians often make to justify the ever-expanding Pentagon budget. A new factory from defense firm Raytheon shows something quite the contrary, though. At one new Raytheon plant, robots are doing most of the work. RT's Kristine Frazao explains. Source

9/11 Conspiracy Solved: Names, Connections, & Details Exposed!

Was 9/11 really an Inside Job? After reviewing this documentary, and checking the evidence, I think the answer will be clear to you.

The Irish people never agreed to pay €3.1bn a year

OPINION: We are duty bound to ask ourselves if it is acceptable to pay €3.1bn in March to get nothing in return, writes VINCENT P MARTIN 
Last week our Government presented a crippling budget in an attempt to save €3.5 billion next year.
In 2010, the government of the day provided promissory notes, made by the State, to fund the bailout of Anglo Irish Bank and Irish Nationwide, now merged as the Irish Bank Resolution Corporation (IBRC).
This financial rescue was in the form of IOUs at a cost of €31 billion to the taxpayer. The promissory notes were given to make a zombie bank solvent as it now had an asset and it was on this basis that the Central Bank lent the IRBC €31 billion, which is then paid on to third-party bondholders.
Under article 123 of the Treaty of the European Union it is expressly forbidden for a Central Bank to lend to an insolvent credit institution like Anglo. The clever promissory note ruse circumvented this prohibition.
While matters were kept within EU rules, Anglo was made to look solvent so that the Central Bank could give it the money to repay its bondholders.
The European Central Bank had no banking default nightmare to deal with, but the Irish people were on the hook for the whole amount. And so every March the Irish people must repay over €3 billion.
And the payment is not to anybody. The money is just destroyed

Attorney General secretly gave government power to create, store dossiers on innocent Americans

By Madison Ruppert: It is now being reported that U.S. Attorney General Eric Holder secretly gave the U.S. government the authority to create and store dossiers on innocent Americans not suspected of committing any crime, without any debate or approval from lawmakers.
This is hardly surprising since Holder gave the same entity, the National Counterterrorism Center (NCTC) the ability to store the personal information of Americans for up to five years, even without so much as a suspicion of the individual being involved in criminal activity of any kind.

Furthermore, this is the same Attorney General who claimed that secret reviews of classified evidence count as due process when deciding if the executive branch can assassinate Americans allegedly involved in terrorist activity.

Monkeys & Cocaine - Too Big To Jail: HSBC money laundering case

Max Keiser  and Stacy Herbert look at HSBC being fined rather than criminally charged in order to avoid destabilizing the system, while JP Morgan and others are being sued for about a trillion in bad mortgages investors were duped into buying. They also look at "1001" under which bankers who lied to the federal housing authorities could be criminally tried for lying to a federal official. In the second half, Max Keiser talks to Kyra Maya Phillips of MisfitEconomy.com about democracy aboard pirate ships of the 18th century on which No Plunder, No Pay was the name of the game and innovation happened on the fringe. Max proposes banksters walk the plank in a specially built platform in Trafalgar Square. Source

Syrian Girl: Obama Directly Backing Al-Qaeda in Public Statement

Alex talks with Syrian Girl about the latest developments in Syria and who stands to gain from this illegal proxy war, pre-invasion by design.

Smart house technology is not as futuristic as we think

By Brent Daggett: In 1999, Disney released the film “Smart House,” which was roughly based on Ray Bradbury’s “The Veldt.”
Smart House was about 13-year-old Ben, who won a competition for a computerized home run by a cyborg named PAT, played by Katey Sagal.
Throughout the film, Pats behavior drastically changes and eventually traps the family inside since she believes the outside world is too dangerous.
Toward the end, Sagal appears as a holographic image and Ben says something to the effect that she is not real and never will be human.
After that, PAT unlocks the house.

US planned atomic war on Russia, China: Released docement

Press TV: A newly revealed top secret document indicates that the US once instituted a military plan by which it would launch an instantaneous “full nuclear attack” against both China and Russia, if attacked by one of the two, even accidentally or by conventional arms.

The document, published Wednesday by the Washington-based National Security Archives, shows that until 1968, the US had a protocol in place by which it would engage in a full-blown nuclear attack against the two powers at the time regardless of the fact that which one initiated the attack on the United States and without consideration as to whether only conventional arms were used or if it came as the result of a mere accident.

The reckless policy, codenamed ‘Furtherance,’ remained in effect towards the end of 1960’s, when the administration of then President Lyndon Johnson ordered a review of the policy, geared towards a more measured reaction, in a bid to avert a disastrous atomic confrontation during the Cold War era.

Sales of perfume named after M75 rocket soar in Gaza

A Gazan cosmetics company names a perfume after the Palestinian rockets shot at Israel during war. (File photo)Press TV: A local cosmetics company in Gaza has named a citrus-scented perfume after the rockets that Palestinians fired on the Israeli cities during the eight-day offensive.

Rajaey Odwan, director of Gaza's Continental Style perfume company said on Wednesday that the sales of
M-75 perfume have soared since it was named in honor of the rocket that for the first time landed in Tel Aviv.

Odwan added that he thought he would give customers a chance to smell victory and "turn it into a perfume,” adding, "Sales have gone through the roof."

He further said that “the fragrance is pleasant and attractive, like the missiles of the Palestinian resistance.”

Ahmed Hassan, a customer from neighboring Egypt, who bought M-75 from a shop in Gaza as a souvenir, said that, "I hope the smell is strong enough for them to whiff in Tel Aviv and remind the Jews of the Palestinian victory."