Telling the truth has become a revolutionary act, so let us salute those who disclose the necessary facts.
ALTERNATIVE NEWS
20 Jul 2013
Confessions Of A Keynesian Debt Serf
Submitted by Tyler Durden: Our keenly attuned absurdism/farce/idiocy meter
was buzzing while reading the following piece from Yahoo Finance, yet
despite our best efforts to discern the thinnest thread of sarcasm or
self-deprecating humor, it appears that the author of the article was
dead serious. Which is what makes this piece all the more deliciously funny.
We present it without commentary as it speaks for itself, and
because the author's delusion is a grand testament for why nothing can
ever change until the endless bubble boom-bust cycle finally ends with the elimination of central-planning
banking once and for all, which can only happen after a full systemic
reset (and which is why instead of urging change from the disastrous
course the US and the entire world is currently on, the only reasonable
option as this point is to encourage its acceleration).From Yahoo Finance
Why I’m Draining My Savings to Stimulate the Economy
For several years,
the economy limped along because of me. I scrimped on everything, did
it myself if I could do it myself, and hoarded money out of fear that
the recent recession had another dip or two left in it.
Things are different now. I’ve turned my savings into spending, rung
up thousands of dollars’ worth of purchases on my credit cards and in
the process paid a lot more in taxes. And I’ll probably keep spending like this until I nearly run out of money.In other words, I’ve bought a house.
Enough Oz-Economics… Let’s Get Back To Kansas-Reality
Submitted by Ben Tanosborn: We
simply don’t get it; better yet, we simply don’t want to get it! For
all our proud puffing of an academic structure in economics second to
none, coupled with business expertise we continuously claim to be the
envy of the world, we’ll soon be proving ourselves as nothing but an
inflated yokel with our pants down, squatting behind a pyrite-dust
sprinkled curtain in a fantasyland we’ve created and nostalgically view
as the United States of Oz. And by soon, one can predict it to be
within a short generation… two decades, at most, by all indications.
Rampant predatory business and limitless unrestrained greed have made our free enterprise system during the past three decades nothing but a joke in bad taste… for our system is neither free, nor does it reward enterprise. Ours has become a system of maximized spoils serving exclusively those who hold what has become the primordial factor of production or wealth creation: capital.
Although the game “rock-paper-scissors” is gradually coming into disuse in the folklore of our current youth, I vividly recall it as an American childhood staple, even if its roots had been transplanted from Asia; one certainly preferable to the flipping of a coin.
Rampant predatory business and limitless unrestrained greed have made our free enterprise system during the past three decades nothing but a joke in bad taste… for our system is neither free, nor does it reward enterprise. Ours has become a system of maximized spoils serving exclusively those who hold what has become the primordial factor of production or wealth creation: capital.
Although the game “rock-paper-scissors” is gradually coming into disuse in the folklore of our current youth, I vividly recall it as an American childhood staple, even if its roots had been transplanted from Asia; one certainly preferable to the flipping of a coin.
Simulations, Smoke & Mirrors - VIX manipulation and Quantitative Easing - Max Keiser with Wolf Richter
Fox News Interviews Freedom Hero Adam Kokesh from Jail
World's Biggest Virus May Have Ancient Roots
By Geoff Brumfiel: Researchers have discovered the largest virus ever, and they've given it a terrifying name: Pandoravirus.
In mythology, opening Pandora's Box released evil into the
world. But there's no need to panic. This new family of virus lives
underwater and doesn't pose a major threat to human health.
Central Banksters Make the Best Terrorists
By Richard (Rick) Mills: Ahead of the Herd - As a general rule, the most successful man in life is the man who has the best information
From the minutes of the Federal Reserve meeting April 30th - May 1st 2013…
"Many
participants indicated that continued (job market) progress, more
confidence in the outlook, or diminished downside risks would be
required before slowing the pace of purchases."
On May 22nd Federal Reserve Chairman Ben Bernanke told Congress that a decision could be made, at any of the next few Fed meetings, to scale back the $85 billion in bonds the Fed is buying each month if the economy
looked set to maintain momentum. The S&P 500 closed 0.8% lower, the
dollar hit a three year high and the bond market sold off with yields
on the 10 year Treasury notes jumping above 2%.
Speaking
at a Boston economic conference Bernanke backtracked saying the Fed
would continue to pour stimulus into the US economy, so long as
inflation stays low, below 2.5% and until unemployment improves to below
6.5%.
Our "As You Wish" Markets Have Reached the Cliffs of Insanity
By Adam Taggart: In the classic fantasy rom-com The Princess Bride,
the beautiful maid Buttercup orders the farm boy Westley to perform
numerous tasks to test his servitude. No matter the magnitude of the
request, Westley simply answers "As you wish" and makes it so. Buttercup eventually comes to view Wesley with similar devotion, and true love is born.
Similarly, investors have fallen back in love with the capital
markets, whose continual response their increasingly irrational hopes
has been "As you wish." Slumping GDP & Revenues
For example, U.S. GDP growth is awful – it's slow and getting slower. It grew 1.8% in Q1 (lower than initially thought) and now analysts are tripping over themselves in a rush to lower their target estimates for Q2; some to as low as 0.3% (Morgan Stanley).The Shanghai Gold Surprise
By David Baker and David Franklin: The
physical gold market continues to develop in the most wonderfully
counterintuitive way. While the paper gold price languishes below
US$1,300 per ounce, physical demand out of China is now reaching
previously unforeseen levels. If you’ve heard this story before, it’s
more of the same, except that the demand tonnage is now so high as to be
almost comical.
According to data released by the Shanghai Gold Exchange, the amount of gold contracts settled for physical delivery on its exchange reached a staggering 1,098 metric tonnes year-to-date as of the end of June.1 This is an astoundingly large amount of physical gold. For perspective, 1,098 tonnes represents approximately 40% of the entire estimated global gold mine production in 2013. It also represents roughly 1/8th of the US Treasury’s official gold reserves, and over 100% of China’s stated official gold reserves. If the rate of physical delivery on the Shanghai Gold Exchange continues at current levels, it will deliver the equivalent of over 100% of global mine production by the end of this year… all through one exchange.
According to data released by the Shanghai Gold Exchange, the amount of gold contracts settled for physical delivery on its exchange reached a staggering 1,098 metric tonnes year-to-date as of the end of June.1 This is an astoundingly large amount of physical gold. For perspective, 1,098 tonnes represents approximately 40% of the entire estimated global gold mine production in 2013. It also represents roughly 1/8th of the US Treasury’s official gold reserves, and over 100% of China’s stated official gold reserves. If the rate of physical delivery on the Shanghai Gold Exchange continues at current levels, it will deliver the equivalent of over 100% of global mine production by the end of this year… all through one exchange.
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