Batista’s OGX Files Bankruptcy: Largest Ever In Latin American History

In line with what we discussed last night, once cajillionaire Eike Batista’s net wealth has now collapsed to less than -$746.5 Million according to Bloomberg as Veja notes, his “take over the world” company OGX has declared bankruptcy following the breakdown of restructuring talks with bondholders:

  • *OGX FILES FOR BANKRUPTCY PROTECTION IN RIO, BATISTA LAWYER SAYS
  • *BATISTA’S OGX EXTENDS DECLINE TO 30% AFTER BANKRUPTCY FILING
  • *BATISTA LAWYER BERMUDES COMMENTS ON FILING BY PHONE FROM RIO

The filing puts $3.6 billion of bonds into default – the largest corporate debt debacle on record for Latin America.

As of this morning his net worth was already -$745 million..

Source

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THIS is where our Monetary System is Headed

(Zerohedge)   I’ve never been trapped in a fire before and trust me, I have had plenty of opportunity. Yes, I was THAT kid, the one who played with fire. The trick was, and still is to steer clear of the flames, to anticipate what and where. Fire is however notorious for doing what it wants and once its out of control even the best firefighters don’t stand a chance.

  Each day that passes we come closer to the arrival of a monetary fire that threatens to dwarf anything in our collective living memories. Watching the Australian bush fires in New South Whales recently made me think of our monetary system. Funny that.

The Australian bush has been burning long before the Brits began exporting their best and brightest to the “lucky country.” Right now the fires are raging. It was inevitable. Like the business cycle nature too abhors excess and steps in to correct it, clear the dead wood and prepare for rebirth.

Financial markets are NO different. The dry brush of excessive credit, monetary stimulus, rampant fraud, and government interference, which has caused the largest sovereign bond bubble the world has ever seen, has not been cleared or burned to allow for regeneration. In contrast we’ve actually been ADDING to it, doing the exact opposite of the “controlled burn.”

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The likely outcome is that we’re heading deep into asset confiscation mode. Government meddling will fail, it always has and it always will. The playbook from throughout history tells us that governments will steal anything and everything from the most productive before they default.

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How Will Your Teen Behave When The SHTF?

This article was written by Daisy Luther and originally published at The Organic Prepper

Will your teen behave like…well, a teen…when the SHTF?

I watched the National Geographic show American Blackout on Sunday night with a friend.  This part in particular got us thinking about the psychology of teenagers and young adults.

Let’s be realistic about teenagers.

If you have one, know one, or have been one, you know that they are a breed apart.  Most of this is a mixture of biology and psychology, and it affects different kids to different degrees.

Some merely find their parents to be rather embarrassing, others think mom and dad are complete idiots, and then you have teens who are outright rebels.

If your child attends a public school, watches television, hangs out with other kids, or has any exposure to popular culture whatsoever, you can be assured that society is trying to create kinder, gentler children, aka sheep who will be easily led to slaughter.  They are taught to fear the very word “gun” through the ridiculous zero tolerance policies, like the one at a Texas school which recently punished a student for wearing a t-shirt with a Bible verse and the words, “God, Guns, Country” on the sleeve, because it might “incite fear” among the students.

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Welcome To The Non-Recovery: ADP Payrolls Miss Big, Plunge To Lowest Since April

As we mentioned earlier, if there was one thing that would guarantee an 1800 print in the Stalingrad and Propaganda 500 index today, it was a 0 or negative ADP print. Well, it wasn’t that bad. But it was close: with a paltry 130K private jobs created in October, this was a monthly plunge in private (i.e. non-government) payrolls, well below expectations, and substantially lower than the September 166K print which also was revised lower to 145K. It was also the 4th consecutive monthly decline starting with a 190K print in June, and it’s all downhill from there. Finally, this was the 7th ADP miss in the past 8 months. We can’t wait as the spinmasters do all they can to explain how private payrolls were affected by a government shutdown.

Broken down by jobs, while there was finally a pick up in manufacturing (+5K), and Construction (+14K) jobs, this was more than offset by the best paying jobs of all, Financial Activities, which dipped by 5K in October, in line with the wholesale termination of every banker dealing with the mortgage banking loss center.

Blame Obamacare: the small firms showed the smallest job gain in 10 months, medium-sized firms: smallest gain in 14 months.

Report highlights:

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Paul Ryan Rips Medicare Chief at ObamaCare Website Hearing

httpv://www.youtube.com/watch?v=qXn7tb5YDJg

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Dem Congressman Blows Up At GOP During Obamacare Hearing, ‘Are You Really Serious?’

httpv://www.youtube.com/watch?v=ktuVswJXEhY

This is what passes for government?

David DeGerolamo

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Cairo bids for brand-new Russian SS-25 ballistic missiles in major arms transaction with Moscow

Russia's SS-25 road mobile ICBM

Russia’s SS-25 road mobile ICBM

Lt. Gen. Vyacheslav Kondrashov, Russian Deputy chief of staff and head of GRU military intelligence, spent the first day of his visit to Cairo, Tuesday, Oct. 29, with Egyptian military chiefs, going through the list of Russian military hardware items they want to buy in their first major arms transaction with Moscow in more than three decades, DEBKAfile’s military sources report. The Egyptians asked Moscow to supply the sort of advanced weapons withheld by the United States, and topped their shopping list with medium-range intercontinental ballistic missiles that cover Iran and most of the Middle East.

They told the Russian general that Moscow’s good faith in seeking to build a new military relationship between the two governments would be tested by its willingness to meet this Egyptian requirement.

They are most likely after the brand-new SS-25 road-mobile ICBM which has a range of 2,000 km., which the Russians tested earlier this month.

Russia is not entirely comfortable with this demand, having signed a mutual agreement with the US to stop manufacturing medium-range ballistic missiles. And so the sale of SS-25 ICBMs to Egypt could get the Russians in hot water in Washington.

Gen. Kondrashov told his hosts that their list would receive serious scrutiny and, in the meantime, Moscow is prepared to offer Cairo long-term credit on easy terms to finance the package. This would relieve cash-strapped Egypt of the need to find the money to pay for the arms and save its leaders having to turn to Saudi Arabia and the Arab Emirates for funding.

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UNMANNED: America’s Drone Wars

httpv://www.youtube.com/watch?v=u7j8JudYOGI

Robert Greenwald’s newest full-length feature is being released on October 30th, 2013. The documentary will only be available to stream online for a limited time. Sign up today to get your link to see the film for free.

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This feature is brought to you by the same man who released “Koch Brothers Exposed”:

httpv://www.youtube.com/watch?v=UTwqkl8BqSc

Expect a leftist viewpoint on these stories.

David DeGerolamo

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Raleigh Capitulates, Next Stop: Wilmington!

Raleigh City Council to finally remove illegal signs in parks while Wilmington continues to stall…

GRNC is pleased to announce victory in Raleigh as the Mayor and city council have agreed to immediately remove all of the signs which illegally ban handguns carried by those with a NC Concealed Handgun Permit (CHP) posted in city parks. An announcement released by the Mayor’s office states that all of the illegal signs will be removed by tomorrow, October 30th.

In the past several weeks, GRNC has leaned hard on Raleigh in order to have them fully comply with laws that were recently passed, as well as laws that were passed almost two years ago. GRNC recently launched a campaign to have these illegal signs removed while Raleigh decided to drag their feet, citing costs of the removal and resting on a rather odd idea that the laws might change back in years to come, so why bother? Finally, today, Raleigh has decided that they also must comply with current law. It’s nice to have them aboard.

Next stop, Wilmington!

In much the same manner as Raleigh, the city of Wilmington has also been dragging their feet on this issue. As incredible as it may seem, Wilmington has still yet to remove or alter in any way most of their signs in city-owned parks. In a letter sent to Wilmington Mayor Bill Saffo dated October 21st, 2013, GRNC President Paul Valone noted:

“In its 2011-2012 Session, the North Carolina General Assembly passed House Bill 650 (S.L. 2011-268), which restricted the ability of municipalities to prohibit the lawful carry of concealed handguns in municipal parks to a limited number of “recreational facilities” within those parks. In 2013, the legislature passed House Bill 937 (S.L. 2013-369), which further narrowed the definition of recreational facilities as follows:

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Gun rights group wants Raleigh park signs removed faster

A gun rights group says the City of Raleigh is not moving fast enough to remove city park signs that say concealed guns are not allowed.

North Carolina’s newly expanded concealed carry gun law allows gun owners to carry their weapons onto playgrounds with children.

In a response to a lawsuit threat by gun rights group Grass Roots North Carolina, Raleigh city officials announced they would start removing signs that explicitly ban firearms, concealed or displayed. But the city says its multi-rule signs telling visitors they can’t possess firearms are too costly to replace.

Grass Roots NC is responding by says it’s willing to help by supplying duct tape to the city.

“So they’re gonna come out here to clean up the park, whatever they do, maintenance – so these guys can bring a roll of duct tape and just cover up the part that’s not right – just fix it – I mean how hard is that?” asked Tom Rhyne with Grass Roots NC.

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Greece Riots 100,000 Fight Against Harsh Cuts In Athens Protests

httpv://www.youtube.com/watch?v=XqPaiMtRSm0

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Ted Cruz Tells Trayvon’s Mother Why Stand Your Ground Laws Can’t Possibly Be ‘Racist’

httpv://www.youtube.com/watch?v=cQAr47xF21k

From YouTube:

Sybrina Fulton, the mother of Trayvon Martin, who was shot and killed by George Zimmerman in early 2012, appeared on Capitol Hill Tuesday for a hearing regarding the controversial “Stand Your Ground” laws. When it came time for Sen. Ted Cruz (R-TX) to speak at the hearing, he informed the still-grieving mother that Stand Your Ground laws actually benefit African-Americans as much as, if not more than, they do whites.

Cruz began by offering his condolences for Fulton’s loss, but quickly moved on to defend the trial by jury process that found Zimmerman not guilty of murder. He also noted, correctly, that the “subject of this hearing, the Stand Your Ground laws, was not a defense that Mr. Zimmerman raised. So this entire hearing–the topic of this hearing–is not the issue on which that trial turned.” Though Zimmerman’s defense team did not end up using Stand Your Ground, it did come out during the trial that Zimmerman was likely aware of the law’s protections when he shot Martin.

“We know that some in our political process have a desire to exploit that tragic, violent incident for agendas that have nothing to do with that young man who lost his life,” Cruz continued. “We have seen efforts to undermine the verdict of the jury and, more broadly, to inflame racial tensions that I think are sad and irresponsible.”

Then, Cruz got to one of his primary points, which concerned that effect of Stand Your Ground laws on African-American communities. He rejected the notion, put forward earlier in the hearing that “no one could reasonably believe that Stand Your Ground laws protect those in the African-American communities who are victims of violent crimes.” He found that idea particularly remarkable since “a great many African-Americans find themselves victims of violent crime and have asserted this defense to defend themselves, defend their families, defend their children.”

Cruz also cited the fact that “in 2004 a state senator in Illinois by the name of Barack Obama co-sponsored an expansion of Illinois’ law providing civil immunity for those who use justifiable force to defend themselves” as evidence that similar laws could not possibly be racially biased. “The notion that stand your ground laws are some form of veiled racism may be a convenient political attack,” he said, “but it is not borne out by the facts remotely.”

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10 Signs That Obamacare Is Going To Wreck The U.S. Economy

Obamacare Line

It is hard to find the words to adequately describe how much of a disaster Obamacare is turning out to be.  The debut of Healthcare.gov has been probably the worst launch of a major website in history, millions of Americans are having their current health insurance policies canceled, millions of others are seeing the size of their health insurance premiums absolutely explode, and this new law is going to result in massive numbers of jobs being lost.  It is almost as if Obamacare was specifically designed to wreck the U.S. economy.  Not that what we had before Obamacare was great.  In fact, I have long argued that the U.S. health care system is a complete and total train wreck.  But now Obamacare is making everything that was bad about our system much, much worse.  Americans are going to pay far more for health care, the quality of that care is going to go down, they are going to have to deal with far more medical red tape, and thousands upon thousands of U.S. employers are considering getting rid of the health plans that they offer to employees altogether due to Obamacare.  If the U.S. health care system was a separate nation, it would be the 6th largest economy on the entire planet, and now Obamacare is going to absolutely cripple it.  To say that Obamacare is an “economic catastrophe” would be a massive understatement.

Pretty much everything that Obama told us when he was selling us on his plan has turned out to be a lie.

So what can we expect from Obamacare moving forward?  The following are 10 signs that Obamacare is going to wreck the U.S. economy…

#1 It is being projected that millions upon millions of Americans are going to lose their current health insurance plans thanks to Obamacare.  Most will be faced with the choice of either purchasing much more expensive health insurance or going uninsured.  This will put even more stress on a middle class that is already disintegrating rapidly.  The following is from the recent NBC News investigation mentioned above…

Four sources deeply involved in the Affordable Care Act tell NBC News that 50 to 75 percent of the 14 million consumers who buy their insurance individually can expect to receive a “cancellation” letter or the equivalent over the next year because their existing policies don’t meet the standards mandated by the new health care law. One expert predicts that number could reach as high as 80 percent. And all say that many of those forced to buy pricier new policies will experience “sticker shock.”

#2 The health insurance premium increases that some families are experiencing are absolutely mind boggling.  According to Mike Adams of Natural News, one family in Texas just got hit with a 539% rate increase…

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THE REPTILE

You don’t have to look too long or too deeply into this face to see the countenance of the type of creature that has been busting the heads of people like Galileo with clubs for millennia… although, to be fair, maybe he’s just not used to the indoor plumbing.

Yes, infamous reptile Alan Grayson called the Tea Party – you know, those people calling for the end to the ruinous spending that allows people with the IQ of a carrot to buy votes from others by enslaving them to a life of government dependency, which will last until the world economic collapse brought about by this out-of-control, filthy addiction — Grayson called the Tea Party the equivalent of the KKK – repeatedly – and it’s just another in a long line of attempts by these Progressive mudskippers to demonize their political opponents in the face of the flaming wreckage that their economic and political policies always bring about.

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International Monetary Fund Recommends Stealing Americans’ Wealth Now!

By now, most Americans realize what they have earned, built and own, no longer belongs to them. It will be taken unlawfully in the blink of any eye. Much like Washington, global parasites now want more of your income and wealth. The international elitists are coming for your stuff and many in our government—Democrat and Republican—are entertaining closed-door schemes designed to, once again, relieve Americans of their property.

On October 9, 2013, from its perch in Washington D.C., the International Monetary Fund (IMF) released a report outlining its recommendations for immediate global wealth confiscation—specifically American wealth—and new capital controls and exit regulations.

The report titled “Taxing Times,” calls for the confiscation of household assets by a “capital levy” on citizens with a “positive net wealth” to reduce advanced economies debt to GDP ratios and stabilize global bond markets.

In other words, Global redistributionist’s, at the IMF, recommend increasing taxes and instituting new capital controls and exit regulations for seizing Americans investment equity, IRA’s and 401K’s to pay down outstanding debt to pre-crisis 2007 levels. According to the IMF, this move will restore global debt sustainability, which is to say, our government will be free to run up more debt again and debt-ceiling fights in Washington will not cause future bed-wetting at the International Monetary Fund.

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