Nigel Farage seems to be one of the few politicians left in the world who is a statesman unafraid to point out the corruption evident in the European union. Imagine if we had some politicians in the United States with a spine willing to stand up for the 53% paying the bills instead of supporting the 47% draining this country’s resources and future.
David DeGerolamo
The French credit downgrade has been postponed almost as long as the United States’ downgrade has been postponed. Expect to see S&P’s downgrade of France next. Moody’s seems to be playing politics with their downgrades but then Warren Buffet is a major stockholder in this “credit rating” company.
Anyone care to guess why S&P’s downgrade of banks after the close of the bell yesterday has now resulted in gains of over 6% today for major US banks? The Fed’s bailout of the EU appears to be another TARP bailout of our banks’ leverage of EU derivatives. The collapse of the EU will collapse our dollar: this action by the Fed only assures it will happen faster.
David DeGerolamo
The definition of transparency in the Obama administration has always been understood to be a “lack of transparency”. This administration is operating without any oversight by Congress or the Supreme Court. History will not be kind to this administration or to our nation’s apathy to this insult to our Liberty.
David DeGerolamo
“Could this be a cover-up on the part of the “most transparent” administration in history? Continue reading
From Zerohedge.com:
Ok, what the hell is going on? This is the first POMO ever cancelled in QE/Lite/Twist history. As a reminder, today the Fed was supposed to sell $8 billion in 2013 bonds: a liquidity withdrawing operation. Just how little liquidity is there in the “system”?
The Federal Reserve along with the European Central Bank, Bank of Canada, Bank of Japan, Bank of England, and the Swiss National Bank are all lowering their U.S. dollar swap rates by 50 basis points! This is going to create massive worldwide monetary inflation and flood the world with U.S. dollars!
The Fed claims that these coordinated actions will enhance their capacity to provide liquidity support to the global financial system in order to “ease strains in financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses and so help foster economic activity.”
More on the need for a “Liberty Summit”.
Monday, November 28, 2011
Posted by T.L. Davis
I have in the past few days had an opportunity to be contacted by some very interesting individuals. They were interested in the Liberty Summit and had different ideas about what should be done there and what they had attempted over the past several decades. They were kind to point out the pitfalls and difficulties with attempting this endeavor. It has all been done before, you see. Yes, it has.
And yet, we do not live in a state of liberty that any of us would recognize. Is this because there is a fine line between demanding one’s rights and engaging in insurrection? One might think so, but actually even the violent overthrow of the United States government is a right that any and all of us retain. It is written eloquently by Paine and Jefferson that our government is a guarantor of our rights. Any other function of this government is by definition treason.
So it cannot be treasonous to oppose treason. Continue reading
That which was inevitable has now come. Like the decks of the Titanic, so are the economies of Europe now pitching as the behemoth which is the Eurozone founders…
The bond sales in Italy this week, and the vote for the ECB Bailout funding by Germany and France next week, are the last moves in the ‘dance of death’ we have all been witnessing. This is all but a dress rehearsal for the collapse of the US Economy, as well as the priming for our implosion event.
It is an unwritten axiom that if you are successful in your business, you will always be guaranteed to have the product that you make or the supply of the product that you distribute. If you are a cobbler, you and your children will have shoes in any cycle of the economy. If you are a banker, you will always have money in your personal account. Or should we ask John Corzine about bankers and securities traders to see if this axiom is true in an economic collapse?
We are entering a period where this axiom will not be valid for a period of time. As the stock markets have risen this week on hopeful retail sales, we can look under the covers to see what is coming. If the banks have no money, then no one will have money.
The following graphs showing a one year change ending today (November 29th, 2011) give a good picture about what is about to befall not just the United States but the entire world:
Continue reading
httpv://www.youtube.com/watch?v=Cj-0B_60Nkk#!
How can we return to a gold standard if we cannot audit the gold reserves in the United States?
httpv://www.youtube.com/watch?v=f6TYegabREQ
The Canadian equivalent of Occupy Wall Street has been cleansed from the streets of Toronto. Do you think this “librarian” has read the Communist Manifesto?
Janet Napolitano and Eric Holder in Paris together. Is it possible to pay France to keep them?
David DeGerolamo
For Immediate Release
Office of the Press Secretary
Contact: 202-282-8010
“Secretary of Homeland Security Janet Napolitano will travel to Paris on Dec.1-2 to join her counterparts at the G6+1 Ministerial Meeting and discuss the Department’s efforts to combat transnational crime, secure cyberspace and ensure a more safe, secure and resilient global supply chain. The G6+1 groups together the Interior Ministers of France, Germany, Italy, Poland, Spain, and the United Kingdom (the G6) with the United States.
Coke has launched a campaign to save the polar bears. They obviously did not get the memo that polar bears are not cuddly teddy bears but the largest land predator in the world. The polar bear is listed as a threatened species due to global warming (not climate change) and “An Inconvenient Truth”. I will not purchase Coke in white cans this Christmas.
David DeGerolamo
Egan-Jones Ratings Co. cut the sovereign debt rating of Italy to double-B from double-B-plus, the company confirmed Monday.
The downgrade came as Italian bond yields have soared in recent weeks, which could have long-term repercussions on the country’s ability to finance itself and manage through a potential slowdown in its economy. The Italian Treasury sold EUR567 million of 2023-dated inflation-linked bonds, known as BTPei, against EUR500 million to EUR750 million planned, at a yield of 7.30%.
A double-B rating is considered speculative grade.
The following articles tell a tale of two housing markets. Reuters is reporting good news as new homes sales rose 1.3% in October. The report speculates that this can be seen as a bottoming out of the housing market. The second article outlines a different picture as the price of new homes has lost all gains since 2003. The graph below shows the sales of new homes in a different way than what is being reported:
I would like to also propose that this same manipulation of data by the media is responsible for the “rally” today on Wall Street. Continue reading
