Archive for July 15th, 2011

As the twin pillars of international monetary system threaten to come tumbling down in unison, gold has reclaimed its ancient status as the anchor of stability. The spot price surged to an all-time high of $1,594 an ounce in London, lifting silver to $39 in its train. By Ambrose Evans-Pritchard Telegraph.co.uk On one side... »

Graham Summers SilverBearCafe.com The Fed must literally be about to pee itself. The $600 billion in QE 2 bought at best roughly three months’ worth of improved economic data. Granted, it was heavily massaged economic data (US economic data is now largely a work of fiction), but for simplicity’s sake, we’ll say that the... »

By CalculatedRisk.com From MarketWatch: S&P warns on U.S. debt, 50% chance of downgrade Standard & Poor’s Ratings Services said late Thursday it has placed U.S. sovereign credit ratings on watch for possible downgrade, saying the action “signals our view that, owing to the dynamics of the political debate on the debt ceiling, there is... »

Why the U.S. could use a strategic default By Jeff Reeves MaeketWatch.com July 14, 2011 ROCKVILLE, Md. — It is a sad situation when hard-working CEOs and money managers who make this country great must watch a bloated federal budget waste our hard-earned money. Millions of Americans claim they are old, sick or laid... »

The blatant social injustice of macro-economic policy by Damien Millet and Eric Toussaint Global Research July 15, 2011 One of the avatars of the financial sector crisis that began in 2007 in the United States and spread like wildfire to Europe, is the enthusiasm shown by Western European banks (especially German and French banks,... »

EndOfTheAmericanDream.com In the United States today, young children are taught from the moment that they first enter school that they are to blindly follow orders. By the time most Americans have become adults, if they are told that something “is policy” then they just accept it. Decades of conditioning have trained us to do... »

EconomicCollapseBlog.com For decades, the U.S. government has had a AAA rating. On the scales used by the big three credit rating agencies, that is the highest credit rating that a government can get. Moody’s scale actually uses lettering that is a little different from the other two big agencies (“Aaa” instead of “AAA”), but... »

by Peter Schiff LewRockwell.com I have been forecasting with near certainty that QE2 would not be the end of the Fed’s money-printing program. My suspicions were confirmed in both the Fed minutes on Tuesday and Fed Chairman Ben Bernanke’s semi-annual testimony to Congress yesterday. The former laid out the conditions upon which a new... »

Raising it means a blank check for militarism by Justin Raimondo LewRockwell.com The “ticking time bomb” gambit is a sure way to establish when someone is trying to pull the wool over your eyes. You’ll recall this was how the advocates of torture argued: what if the terrorists had a nuclear device designed to... »

by Simon Black Sovereignman.com Thessaloniki, Greece Last night I had quite an unexpected surprise. You see, at my hotel here in Thessaloniki, there’s a delegation from some group of the European Parliament called the Committee on Regional Development. They’re here to help… Hey, isn’t that what they always say? The Committee wants to supervise... »