- Summers Quit Fed Quest After Democrats Spurned Obama Favorite (BBG)
- Geithner Still Not Interested in Fed Chair Slot (WSJ)
- Gross’s Trade Sours as Bonds Lose Faith in Fed Guidance (BBG)
- Bob Diamond calls for bank rules shake-up (FT)
- Russia says may be time to force Assad's foes to talk peace (Reuters)
- Iran Dials Up Syria Presence (WSJ)
- Kerry Seeks to Sell Syria Deal (WSJ)
- Shutdown of Japan’s Last Nuclear Reactor Raises Power Concerns (BBG)
- Emerging Stocks Rise to 3-Month High as Bonds Gain on Fed (BBG)
- Bernanke’s Maradona swerve hits bonds (FT)
If there’s one country in the world that you might not think would be at the top of the outsourcing list and the place to send orders to be fulfilled from the West, it would probably have to be North Korea. The world’s most closed economy, that Communist dictatorship.
A SmartKnowledgeU Exclusive Interview with World Bank Whistleblower Karen Hudes: "The World Will Reject Central Bankers"Submitted by smartknowledgeu on 09/11/2013 23:29 -0400
An exclusive SmartKnowledgeU interview with World Bank Whistleblower Karen Hudes, in which we discuss the growing adoption of competitive currencies to fiat such as gold and silver, the reasons why the masses still largely remain ignorant of banking criminality, and the turniing tide against immoral Central Banking activities.
Just three weeks ago, Goldman Sachs cried 'uncle' when their market-making options algo-machine exploded in a fit of guilt causing the firm to face hundreds of millions of dollars losses (should the exchange not have DK'd the deals). Nanex has investigated the rogue algo and here are the findings... "As soon as option quotes in the affected symbols began exceeding theoretic economic values by some threshold, quotes (and therefore liquidity) on other options exchanges for those contracts would immediately disappear - bid/ask prices would go to zero at other exchanges. Within 10 seconds of starting, one algo, in effect, completely destroyed the concept of the National Market System and obliterated liquidity..." As they sadly conclude, what was the fine for shutting down an options exchange, and destroying liquidity in hundreds if not thousands of options contracts? There was no fine. Worse, they were able to get the trades busted. As in, pretend we didn't just do that. Pretty shocking. Until there are financial consequences for firms that turn on market disrupting algos, the markets, will continue to be disrupted.
- Opposition figure: major decisions on Syria expected within hours (Al Arabiya)
- Syria challenges U.S. to "produce the evidence" that Assad regime launched chemical attack (CBS)
- British PM says world must act on Syria, weighs response (Reuters)
- U.S. Treasury to Hit Debt Limit in Mid-October (WSJ)
- U.S. could look beyond U.N. Security Council in any Syria strike (Reuters)
- Nasdaq, NYSE at odds on outage cause as SEC seeks facts (Reuters)
- Ackman’s J.C. Penney Sale Ends Failed Saga to Agitate for Change (BBG)
- Zandi, LaVorgna, Blinder, Rattner all is one con puff piece (BBG)
- Best Buy Founder Schulze Plans Stock Sale to Diversify Assets (BBG) - "diversify assets" = dump overpriced junk
- Zero Worship: Credit-Card Firms Compete With No-Interest Transfers (WSJ)
- Len Blavatnik wins $50m in JPMorgan lawsuit (FT)
- Danone Finds Yogurt’s All Greek as Oikos Chases Chobani (BBG)
First Signs of Hyperinflation Have Arrived: US National Debt Can Travel From the Earth to the Sun and Back a Stunning 83 Times!Submitted by smartknowledgeu on 08/26/2013 10:44 -0400
If one were to lay $1 bills side by side, the current US National Debt would reach from the earth to the moon 32,358 TIMES AND BACK and to the sun 93 million miles away 83 times AND BACK.
Perhaps in an effort to numb themselves of the daily grind of a delusional dictator amid widespread starvation, North Koreans have turned en masse to the 'bingdu' or ice. As the WSJ notes, a study in the Spring of 2013 found that "Almost every adult in that area (of North Korea) has experienced using ice and not just once," and the author noted that "at least 40% to 50% are seriously addicted to the drug." Unsurprisingly for the closed nation, there is no official data, but as poppy fields disappeared in the nation, meth dealers were quick to step in and 'Heisenberg' the people's needs. Now "doing ice is a social thing; it is a lot of fun," as the 'epidemic' has spread from mid-ranking officials and police officers in 2004-2008 to the general population of students and youth now.
Since the end of last April, registered gold held at the COMEX depositories has collapsed from a total of 2,147,398 ounces to just 852,930 ounces. That is a collapse of 60% of the registered gold inventory in less than 4 months.
- JPMorgan Nears Settlement With SEC on London Whale Loss (BBG)
- Without even a wristslap: Iksil to face no U.S. charges in 'Whale' probe (Reuters)
- China’s Credit Expansion Slows as Li Curbs Shadow Banking (BBG)
- China slowdown shows signs of abating (FT), even as...
- Australia central bank Lowers Growth Outlook as Economy Transitions From Mining (BBG)
- SAC Business Plan Goes to Judge, Plan Would Allow Firm to Maintain Business Operations but Restrict Its Ability to Move Assets (WSJ)
- Another buyer of Herbalife? - Norway’s oil fund plans to turn active (FT)
- Mark Carney plays down scepticism over interest rate policy (FT)
- Orders Evaporate for Celebrity Perfumes (WSJ)
As we have exhaustively noted, given the various macro factors bringing influence to bear on the yellow metal, the bizarre price action of the last six months has run counter to most logical assumptions and has been a source of great frustration to many - including Grant Williams. Cyprus should have been a hugely positive tailwind for gold. But it wasn't. The ongoing money printing should have provided support for gold. But it hasn't. The talk of tapering should have had a minor but noticeable effect on gold, given its healthy recent correction. But it didn't. Sustained data suggesting a voracious appetite for the physical metal not only in Asia but in Western countries, too, should have led to a bounce on the COMEX. But it hasn't. The whole thing is as baffling as Kim Kardashian's fame. When the need to own gold jumps again - and it will; this is a long way from over - all the pieces of this jigsaw puzzle of the weird and wonderful forest of gold manipulation that we have dropped onto the table will slot neatly into place. What if, when that happens, there just isn't enough gold to go around?
The aging 'me' generation is still putting itself first...
Whether or not you believe PMs will serve as the ultimate store of wealth as the global fiat monetary system collapses should have absolutely no bearing on making the intelligent decision to remove your financial assets from under the domain and inevitable confiscation of global bankers and their State-run tyrannies. Independence Day is a fine day to start the process of taking back our freedoms from the tyrants that rule over us.
While hardly coming as news to anyone who could have read the tea leaves as soon as Snowden boarded the plane from Hong Kong to Moscow, the flashing red headline that the NSA whistleblower has just applied to be Depardieu's neighbor, has just escalated the great US foreign policy snafu that started a month ago with the NSA spying revelations, and has since developed into a huge scandal involving Europe, Russia, China, Hong Kong, and virtually every other country (not to mention US citizens) that the US government is spying on.
- SNOWDEN ASKS FOR RUSSIAN POLITICAL ASYLUM: IMMIGRATION OFFICIAL
- SNOWDEN ASYLUM APPLICATION RECEIVED YESTERDAY: RUSSIAN OFFICIAL
And with Putin saying there is no chance he will return Snowden to the US, in response to Obama's demands, suddenly the balance of power shifts to Russia's favor (which by now it is almost certain, knows everything that Snowden does). Ball is now in Putin's court. Just where he likes it.
Edward Snowden is no longer in Hong Kong. About an hour ago, the Hong Kong Authority released a statement which says that the NSA whistleblower has left Hong Kong today "on his own accord through a lawful and normal channel" which was yet another slap in the face of the US, saying the US provisional arrest warrant "did not fully comply with the legal requirements under Hong Kong law." In fact, not only did the HK authority defy the US arrest warrant, but it officially demands that the US clarify its own hacking of Hong Kong computer systems:"Meanwhile, the HKSAR Government has formally written to the US Government requesting clarification on earlier reports about the hacking of computer systems in Hong Kong by US government agencies." Having been given the blessing of HK to defy the US, Snowden is now supposedly en route to Moscow, from where he is said to continue further to Iceland.
Over the course of decades we have allowed ourselves to be corrupted by the love of material possessions, the lure of a debt based faux wealth, the money for nothing entitlement promises of dishonorable politicians, the evil of currency debasement, the effectiveness of mass media propaganda, and the belief that we could sacrifice freedom and liberty for promises of safety and security made by a cabal of powerful rich men. Power has been concentrated into the hands of the few, who operate in secrecy and despise the people. They don’t want transparency or open debate. Freedom of speech is nothing but a thorn in their side. They believe they are smarter than the serfs and have no morality when it comes to committing illegal acts and disregarding the Constitution. They are not acting in the public interest. Their abuse of power and looting of the national wealth have put us on a path towards a bloody revolution. This is not a time for conformity, obedience or submission. It’s time to stand up and expose the evil doers. It’s time to rally around those who care about this country. Who are the real traitors? You know the answer.