Archive for May 16th, 2012

by Tyler Durden ZeroHedge.com 05/16/2012 As US weak hands keep piling out of gold whether to make space for the Facebook IPO tomorrow, or just to load up on paper currencies in advance of central banks printing much more, two things have happened: China is now on its way to becoming the biggest source... »

By Sheriff Jim R. Schwiesow, Ret. May 16, 2012 NewsWithViews.com One can liken the days leading up to the pending collapse of this nation to an appointment with an endodontic for a root canal procedure, the time unto the appointment seemingly lapses with unnerving quickness while the horrific hour and a half in the... »

by Charles Hugh Smith ZeroHedge.com 05/16/2012 Medicare is an example of an unsustainable system that will go away in the decade ahead. Here are the sobering facts about the number of workers and those drawing Social Security, Medicare and Medicaid entitlements in the U.S. While the government claims to have a “trust fund” to... »

A.M. Freyed Infowars.com In China, ghost cities are starting to pervade the landscape like some kind of cancerous growth, void of human presence … They are not abandoned towns reflecting ghosts of the past. Instead, they are large abandoned cities reflecting ghosts of times that would never come. – TopSecretWriters (5/1/2012) China cuts reserve... »

Blasts illegal use of “plastic drones” to spy on Americans in their backyards Steve Watson Prisonplanet.com May 16, 2012 Judge Andrew Napolitano has warned Congress not to act “like potted plants” regarding the increased use of unmanned surveillance drones without warrants over US skies by military, government, and law enforcement agencies. Echoing the recent... »

SteveQuayle.com May 15, 2012 Steve, The warning shots have begun. I will tell you that this week has been heavy in the financial world, as I predicted that it would be from my last update till the winter. The reverberations of the JP Morgan $2 Billion dollar derivative trade loss is playing out and... »

By Greg Hunter USAWatchdog.com 16 MAY 2012 The $2 billion loss of JP Morgan in derivatives trading is signaling, once again, the enormous risks big banks take with taxpayer backing. All U.S. banks are covered by the FDIC, and if a loss is big enough, it could threaten the financial system just as it... »

Implode-Explode.com 2012-05-15 Jim Willie of the Hat Trick Letter (at GoldenJackass.com) has forwarded some tantalizing informant correspondence on the Western banks being cleaned out of physical gold by Eastern interests in recent months on price weakness: 5000 METRIC TONS GONE FROM WEST TO EAST SINCE FEB 29TH RAID The gold cartel is mortally wounded,... »

As Greece erupts, Italy is moving into the eye of the storm. Its economy is contracting at speeds not seen since the depths of the slump in 2009 as draconian austerity bites, greatly increasing the risk of social revolt and a banking crisis. By Ambrose Evans-Pritchard TelegraphUK 15 May 2012 With the world’s third... »

RawStory.com Wednesday, May 16, 2012 Moody’s is set to ‘significantly’ downgrade 21 Spanish banks within a week, following a cut of credit ratings on Italian banks, the Spanish economic daily Expansion said on Wednesday. “Sources in the Spanish financial sector are convinced that the agency will lower in a significant manner the ratings of... »