Stacy Summary: Looks like China is unhappy with commodity speculators costing them so much money! Right, now I am off to go record this week’s episode. It’s a bit of a special as there are so many big economic and financial headlines that we have Michael Hudson on to discuss these for the full half hour.
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@Youri:
Sorry for the rant then!
@frances snoot
I am talking about both cause the ECB has also followed the dark Bernanke path of throwing money at the banks which doesn’t reach customers at all. Today we’ve seen this phenomenon also in Europe that’s why I made this comparison.
@Frances Snoot
That’s Bob Chapman, the “ex” military intelligence guy pushing gold, a regular guest on AJ’s show.
BTW, listen to the last bit of the (boring) video on this page:
http://www.abovetopsecret.com/forum/thread462055/pg1
That’s pure Bill Hicks losing it (you know, the comedian-in-career-crisis who “died” just before AJ came out of nowhere).
Patriot Radio was set up by Gehlen’s boys, and istill only uses spooks or chipped truthers. Linda Kennedy sets out her first-hand experiences with well-known players:
http://www.wbflegalreform.com/wbftableofcontents.html
Look at II B & C.
Come to think of itl, show biz has always been controlled.
@Mother Earth:
Snooty wants my go with Madame Pelosi, please.
Remember: avoid collisions with other grapples!
@MotherEarth
LOL! Which Chapman are you referring to? I thought La Rouche was a communist?
European, just like the U.S. Banks, sitting on their money. A New €316 billion ECB “deposit facility” Record FROM: Banks sit on their money (Part II) by Mathijs Bouman (Google translation from dutch) http://tinyurl.com/n7c25g
I propose we all get turns picking an apple of the head of Paulson, Geithner and Bernake with this
http://www.youtube.com/watch?v=v1AJ_OBJUpY
The comment above was supposed to say
Scotiabank
Any of you guys holding precious metal certificates at Schotia bank? Better check out their bakcing:
http://ispeakofpeak.blogspot.com/2009/06/scotiabank-and-real-silver.html
Imho Chapman and Larouche are old farts maintaining their following, instilling fear and a sense of inferiority. Max and Stacy (apart from not being old farts) at least have a better sense of humor
To all doomsayers, those messages are intended to make you sympatise with the faltering system. I just prepare for what comes next..
@Frances,……..NEVER!! planned you say,..tut!
@anythingbutgreen:
Yes, you are a lone nut for you think freely. That is a GOOD thing!
I was thinking about Ockham’s razor today and how we could apply it to the economic debate. The blather of rhetoric is astonishing. Especially Mr. Krugman’s call for more debt at this time. It almost seems planned…
Charter school movement supported by billions in stimulus money has this secondary agenda:
http://www.alternet.org/story/141034/the_military_invades_u.s._schools:_how_military_academies_are_being_used_to_destroy_public_education/?comments=view&cID=1250988&pID=1250105
@Dedo: So I’m not a lone nut. Whew!
@Frances Snoot:
Freaky urls. Thanks.
Sorry I don’t have any useful suggestions on what to do, BTW.
@Youri,……and if it only takes ten yrs to double at 7% , and, and, the recession is forcast to last for decades,…then no more jobs for anyone,…….yipeeeee!!
http://www.globeinvestor.com/servlet/story/GAM.20090706.RCURRENCY06ART1940/GIStory/
France joins China, India and Russia in calling for a new reserve standard on the eve of the G8 summit.
“But this is not happening cause banks still don’t trust each other so they only use this stimulus money to crank up their balancesheets whitout the real economy getting any incentive from it. So, this whole money expansion politics has become a blunt knive and deflation is becomming more likely.”
@Youri:
Were you talking about US stimulus money? Team Pelosi had plans for a new society based on profits for cronies out of San Fran and Bush retreads. 100B to US schools sounds great. Reality is here:
http://www.blackagendareport.com/?q=content/obama-ordering-states-close-5000-failing-schools-chicago-lies-go-national
And here:
http://www.nytimes.com/2009/07/06/opinion/06mon1.html?_r=1
There are teacher layoffs in many states. Stimulus was not earmarked to save the economy or current employment for teachers. It was designed to remake America on the lines of Bush on a tight schedule.
The lies about the stimulus are incredible. The mandate for states to accept money to get more people on Fed assistance without adequate future funding; the barbeque parties in the press for those politicians who stood up and refused stimulus; and now the realization that employment and the economic growth were not the intended agenda of Pelosi’s dreams for America.
Here is the US transportation sect. admitting an agenda to get American’s out of their cars:
http://www.americanthinker.com/blog/2009/05/transportation_secretary_coerc.html
Why haven’t we heard Romer apologize about her lies concerning job growth through the Economic stimulus? Instead we get Krugman: more stimulus more more: http://www.nytimes.com/2009/07/03/opinion/03krugman.html
reminds me of this..(economy has a fever, Krugman says more…):
http://www.youtube.com/watch?v=_Mie9hhQTUM
Do the deflationists ever mention the US Treasury market collapse? We can’t sell the bonds we need to sell this year, and now the Nobel prize winners want us to issue more? Ridiculous. The growth didn’t happen: now the two options left for American according to Simon Johnson are default or hyperinflation:
“If you value America’s political strength, this is the wrong time to be loading the country up with debt as part of a wait–and-see policy. There are only three ways out of excessive debt: rapid growth (which, sadly, seems unlikely), high inflation (which is completely undesirable), or default (which leads to many other problems).
It would be much better not to take on so much government debt. But the only way to do that is to take on the bankers.”
http://economix.blogs.nytimes.com/2009/04/23/irreversible-damage-why-little-action-on-banking-can-do-great-harm/
Bob Chapman about unemployment rates on AJS:
2009 20%+ (Exactly what the Stat says)
2010 20% – 30%
2011 30% – 50%
2012 A lot of Roque Rednecks, Helter Skelter & Satanic ritualz. (Exactly what Celente says)
@anything but green,………touche on larouche!!
@Sharon
re Larouche
The opinion is based on listening to his audio recordings on the net. He’s a megalomaniac wanting to emulate FDR; he’s pure NWO.
All the same, he’s an excellent source of quality tidbits.
True unemployment rate already at 20% http://tinyurl.com/mkko35
The Esperanto currency http://r.reuters.com/baq48c
China’s dollar delusion http://tinyurl.com/lhht94
China Closes its Wallet http://aweber.com/b/26Bxg
China officials call for displacing dollar, in time http://r.reuters.com/jus38c
China to allow renminbi trade payments http://tinyurl.com/nycegv
One of the most read articles on FT today:
‘Copyright laws threaten our online freedom’
http://www.ft.com/cms/s/0/87c523a4-6b18-11de-861d-00144feabdc0.html
Thought that my interest you Max.
Shocking to realize that since december 2008 when we were talking about why the stimulus money from the government doesn’t reach customers, nothing, absolutely nothing has changed!
Money expension normaly should counter deflatonairy trends but only if this money really is being picked up and spend in the real economy! But this is not happening cause banks still don’t trust each other so they only use this stimulus money to crank up their balancesheets whitout the real economy getting any incentive from it. So, this whole money expansion politics has become a blunt knive and deflation is becomming more likely.
This is exactly what is happening now in the ECB where for the first time in history stimulus money was given (1%rate) to the banks but they don’t pass it on to the real economy. They just sit on it or give it back!
The same with the low interest rates for the banks which are not passed on to the consumers so de facto blunting these political measurements too. Above all, lower interest rates means less profit for savers and pension funds so less purchaching power for the people.
So, since december 2008 the ECB and the FED absolutely learned notin! No wonder the FED is not afraid of Inflation cause they know nobody is getting any money only the banksters gangsters Brotherhood does.
Speaking of China,
It looks like they are chipping away at the dollar by allowing more trade with Vietnam in Yuan:
http://www.bloomberg.com/apps/news?pid=20601109&sid=aqA9QhRSNeqM
Max & Stacy,
This story mentioned by Frances Snoot is unexpected:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aW2cTXW6tFTk
China unable to borrow? We’ve all been expecting Treasury Auction failures in the US and UK, but what’s the significance of this. The Yuan of course is also fiat, but doesn’t seem likely to collapse given that China isn’t massively in debt like the US is.
@ETF : GLD
Did anyone notice the fast take-down at the open today ?
Moved from 90.70 to 90.10 in 2 seconds.
The price of physical Gold didn’t move like that this morning.
FWIW
http://www.marketskeptics.com/2009/07/understanding-us-treasury-market.html
Mr. deCarbonnel’s easy-to-understand explanation of the US Treasury Market. Also he mentions the Mambo Curve video!
Oh boy, it’s like round 2 of the cold war.
Meanwhile, the whole she-bang is in this one article – G8 hiding away in a remote earthquake zone, coming economic collapse, riots in China
http://www.guardian.co.uk/politics/2009/jul/08/global-economy-g8-leaders
ARGGH: I meant NC, Naked Capitalism…the article is from Bloomberg
I found this link at NK by a poster name “A”:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aW2cTXW6tFTk
Profoundly disturbing, to say the least. Reminds me of the article by Eric deCarbonnel back in January:
http://www.gold-eagle.com/editorials_08/decarbonnel012009.html
@Stacy: My prior posts commenting on the OTE show suggested that the “slow burn” is continuing and if the powers that be can keep on track and not cause an abrupt upheaval then they will be content with all the unemployment and factory/industry closings,sate government meltdowns,etc…..Max’s viewpoint that it is the speculators v. the savers is true yet the component members in the savers category IMHO don’t realize it’s all out ( financial) war!!!!!!!!!!!!!As long as destruction occurs incrimentally then for some unknown reason the masses don’t connect the dots…As I see it the banks are hiding the wealth and demanding the tithing from the masses in forms of higher fees and taxes…further exasperating the desperation of the masses…who then forget to look to the true culprits and divert their anger on the least suspecting ( in America how long has it been that the Repubs always stated that the troubles are all caused by the many poor– and the subsidies provided as welfare and such??? ) Thus their success in giving so much to the power elite in tax benefits, etc….what a psyops ???? And it still works…Trillions if not 100′s of trillions to the banking cartels…And yes it appears that the #1 BIZ is collecting the payments for the governmental debt…..thus what we used to call the productive economy is a distant second…and headed for collapse….So Rise up!!! The savers element needs to convert the language of the Repubs to convey that the new devil in the mix is not the poor by the wealthy investor class ( GS etc..) …You mission if you accept the challenge is to further this reversal…good luck..I know you have it in you….
@veritas
Yeah it’s amazing what you can find when you dig in the rubble……..(ha)
http://www.youtube.com/watch?v=skFWsc_-i14
@Mother Earth
I don’t doubt that a collapse of the current fraudulent system would be a good thing – in the long run – but I’m refering to the intermediary period of time between the old and new systems. What about peoples’ jobs, feeding families, social order/unrest etc. I don’t expect after the current system dies that a new system will just jump out from behind the wardrobe and scream TA DAAAAA!!!!
But I do agree with you. The current structure (or lack of) is hazardous and morally criminal as well as totally.
Maybe worth mentioning that Europe is doing exactly the same as the FED has done namely using bogus accounting rules to keep the toxic dirt hidden under their carpet.
What’s remarkable about the commodities market is that China is the only one buying! Big problem for China is that all the traders get on their back to get a fee ride by increasing the commodity prices. That’s why China is keeping it’s wallet http://www.aweber.com/b/26Bxg
After listening to the July 4th show, which was enormously cheeky, I really think that nevertheless you two need to learn about the effect of diseases on indigenous Americans.
Europeans brought diseases to both coasts that natives were especially susceptible to because of their blood type.
But there is evidence that diseases came over from Asian about 1000 years earlier. How do we know? First there was a similar die-off then, second Chinese pottery has been found in native America graves from that period.
This is anthropology… which tries to find more truth than political correctness will allow.
@ anything but green…………….Pity he’s a fascist sicko globalist.
How do you mean? He never struck me as fascist (never heard him say anything that would suggest this). And he is the opposite of a globalist – he insists that there should be nation, soveriegn states that retain their cultures. Sicko….why?
I’m not an apologist for Larouche, I just listen to what he says and it seems to make sense, but if you know something about him that I don’t I’d be grateful if you could enlighten me.
@danny It would be great if the system collapsed, because it would mean the (lie based) control structure it enables would contract, perhaps even trigger the force majeur for CDSses (another thing of beauty). Societies are build bottom up, so I don’t think it will become a huge mess if the top is chopped off..
China backs out of the G8, but my bets on war are actually less because the US has been moving their aircraft carrier back to the middeteranian, either that of China has already chased them out.
BTW, it isn’t all doom and gloom, providing the British Empire is taken down and that basically means the international bankers need to be removed and Obama needs to change his policies. Will this happen? Who knows?
@ stacy,
Problem is the world is now very different especially in terms of global interdependence – THAT has never happened before, ie. the world is structured in a way now that bears no comparison to previous structures. Larouche does cover this.
@Stacy
Greetings and salutations from the armed madhouse.
Below is a link to a Department of Defense assessment of Twitter and other social networking sites. I thought that it might assist you in your research.
http://www.fas.org/irp/eprint/mobile.pdf
The title page of the document reads as follows:
Supplemental to the 304th Ml Bn Periodic Newsletter
Sample Overview: al Qaida-Like Mobile Discussions & Potential Creative Uses
By 304th Ml Bn OSINT Team
October 16, 2008
This is a draft FOUO product
It is quite informative.
Additionally, for some of the best near real-time updates about the Goldman saga, please consider going to http://www.zerohedge.com or http://www.zerohedge.blogspot.com. They have broken many stories about GS and the NYSE (particularly regarding PT and SLP traders) over the past few months and are, like you and Max, a daily source of great information. As an aside, I am not associated with them in any way.
Thank you for your tireless efforts. Keep up the great work!
Larouche provides excellent info on history and fishy business. If you are curious about an organization such as, for example, Amnesty International, Larouche gives the lowdown… kind of like a high-brow Sherman Skolnik.
Very useful source.
Pity he’s a fascist sicko globalist.
@ Sharon
Yeah, we’re all caught in a rock and a hard-place. we want an end to American hegemony but I think most people are unclear what will happen if that empire falls; a massive vacuum would be created which would have enormous consequences for us all.
Thats question for Michael Hudson. What happens to the rest of the world if America crumbles?
Speaking of dirty tricks, have you been paying attention?
One of the actors who helped get us where we are today:
http://www.youtube.com/watch?v=azURaXAe2mY
So simple!
IN terms of a ‘whole world collapse’ – it has never happened before; well it has but only when a giant asteroid has hit the planet and that was before humans; and during times of great global strife there is always some area that benefits from major collapse, catastrophe or plague elsewhere; IF the western financial system completely collapses, another system will then be able to grow; whether or not that system will be better or more stable, only time will tell
@ Danny
Re: your 1st post on US economic collapse being imminent. According to Lyndon Larouche, if this happens then the whole world will collapse. He believes that the only way to prevent a total wipe out of all nations in the world (which will result if Amercia goes down) would be be to destroy the British Empire and that if that doesn’t happen then we’ve got no chance, no matter where in the world we are. He says that China and Russia will not survive and neither will any other country. I assume that when he says British Empire he means the crown and the international bankers associated with that. He even suggested that London should be bombed. I can’t dismiss this guy completely because he seems to be right on everything else and his knowledge of history is 2nd to none – he says you have to undersand history to understand what is going on today, I agree.
@stacey
I get the software (and now also what a quant should mean), what I don’t get is the execution of the trade. In an environment where naked short selling is possible (due to delayed trade resolution of what you call it) who would be able to close sales as fast as necessary for computerized trading? Because if those trades are not real, or only balanced with the real market at intervals, then how can its effect on price be continuous or real? Are these stupid questions?
Economic Fragility Underestimated – Collapse May Be Imminent
http://seekingalpha.com/instablog/439656-arbitrary-vote/11018-economic-fragility-underestimated-collapse-may-be-imminent
No Amount of Stimulus Will Work
http://globaleconomicanalysis.blogspot.com/2009/07/no-amount-of-stimulus-will-work.html
Who Killed California’s Economy?
http://www.forbes.com/2009/07/06/economy-pension-environment-business-opinions-columnists-california.html
Goldman Says Morgan Is All Wrong About Fed’s Quantitative Exit
http://www.bloomberg.com/apps/news?pid=20601087&sid=aXE_NxcOLRXc
Baltic Exchange made changes in calculating BDI
http://steelprices-india.com/news/index/2009/07/03/OTM4NQ%253D%253D/Baltic_Exchange_made_changes_in_calculating_BDI.html
Yes, as more info comes in the GS Source Code Row seems to less and less be from the security-intelligence connections I know of, that are also not Americans either …
However, let it be said that GS’s luck in ruling the roost will not last if they become too rich a target in terms of what the global security-intelligence community considers targets.
And don’t forget the Peter Principal as well …
I suspect that without internal military like organization GS will self destruct in ways very unanticipated.
FULL COVERAGE Rio Tinto Employees Detained in China (Newstin) http://tinyurl.com/lxz9zv
Aussie Rio Tinto executive ‘a spy’ (Newstin) http://tinyurl.com/m7268k
Rio arrests: Joyce raises Chinalco deal link (ABC) http://tinyurl.com/klrsyw
Rio Tinto workers held in China (The Financial Times) http://tinyurl.com/mekwmj
Rio Tinto Says China Has Detained Four Workers (The Wall Street Journal) http://tinyurl.com/nes4za