Daily Archives: October 30, 2010

The Founding Fathers’ Vision of Prosperity Has Been Destroyed

“I believe that banking institutions are more dangerous to our liberties than standing armies…The issuing power should be taken from the banks and restored to the Government, to whom it properly belongs.” – Thomas Jefferson

http://www.zerohedge.com/article/founding-fathers-vision-prosperity-has-been-destroyed

What Civil Rights: DHS Formalizes Military Role in ‘Civilian Cybersecurity’

Department of Homeland Security chief Janet Napolitano announced that the National Security Agency and the US Cyber Command will be used in civilian cybersecurity matters, insisting it was perfectly appropriate to give the military this role.

http://news.antiwar.com/2010/10/28/civil-rights-concerns-as-dhs-formalizes-military-role-in-civilian-cybersecurity/

Imminent Big Bank Death Spiral

Unfortunately, the title database has no legal standing, as declared by several state courts, including some supreme courts. Banks or financial firms holding the mortgage notes cannot team with the title database and force eviction during the…

http://news.goldseek.com/GoldenJackass/1288209233.php

U.S. on track for “fiscal train wreck”: Roubini

The U.S. economy is a “fiscal train wreck” waiting to happen that risks ushering in a period of stagnation featuring by minimal growth, high unemployment and deflationary pressure, U.S. economist Nouriel Roubini wrote on Friday.

http://www.reuters.com/article/idUSTRE69S0ZJ20101029

High Frequency Traders Might Be Manipulating Multiple Markets

We know that high frequency trading is used to manipulate the stock market. The prevalence of high frequency trading in other markets means that it might be used to manipulate those markets – perhaps virtually all markets – as well.

http://www.washingtonsblog.com/2010/10/high-frequency-traders-might-be.html

Foreclosure-Gate Explained: Big Banks on the Brink

One foreclosure expert estimates that just 6 to 7 percent of the loans made in the last three years can produce properly recorded title transfers from borrower to final lender. Legally assigning, or recording title transfers was much too slow… 

http://www.truth-out.org/foreclosuregate-explained-big-banks-brink64621

 

Backstop Benny and his Lollipop Gang: Hyperinflation Is Arriving

A beggar-thy-neighbor monetary policy works for small countries getting out of a hole of their own making: It doesn’t work for the world’s largest single economy with the world’s reserve currency, in the middle of a Global Depression.

http://gonzalolira.blogspot.com/2010/10/signs-hyperinflation-is-arriving.html

Actual U.S. Government Debt is $200-Trillion – 840 Percent of Current GDP

Boston University economist Laurence Kotlikoff says U.S. government debt is not $13.5-trillion (U.S.), which is 60 per cent of current gross domestic product, as global investors and American taxpayers think, but rather 14-fold higher: $200-trillion.

http://www.theglobeandmail.com/report-on-business/commentary/neil-reynolds/the-scary-actual-us-government-debt/article1773879/

The Fed’s ‘tax on the consumer’

Since Bernanke’s comments in August, the dollar index has dropped 7%, while commodities — which are priced in dollars — have surged. Crude oil has jumped 14%, while gold has spiked 8%. Prices for cotton, corn, sugar, wheat…

http://money.cnn.com/2010/10/28/news/economy/quantitative_easing_consumer_impact/index.htm?hpt=Sbin

No Mr. President, Larry Summers Did Not Resolve the Financial Crisis for a Pittance, He Just Papered Over the Problem

I passed up the obvious title: “Heckuva Job Larry!” That was the moment of President Obama’s appearance on The Daily Show with Jon Stewart that set all Americans cringing. Yes, he really said that Summers “did a heckuva job.”

http://www.huffingtonpost.com/william-k-black/no-mr-president-larry-sum_b_775307.html

Bill Black Lands A Knockout Punch on Obama and Wall Street Corruption

Third, integrity is important. I really shouldn’t have to explain this. It depresses me that I have to argue that it is wrong to lie. Our democracy, our economy, our society, and our souls depend on restoring our integrity and the rule of law.

http://market-ticker.org/akcs-www?post=170581

Illegal Profits: $JPM, HSBC Sued For Silver Market Manipulation

In the suit, the plaintiff allege that JPM and HSBC in August 2008 held 85% of the net short position in silver and by the first quarter 2009 held $7.9 billion in precious metal derivatives.

http://www.zerohedge.com/article/jpm-hsbc-sued-conspiracy-keep-silver-price-low-reaping-billions-illegal-profits

Stunning Chart: The Real State of Inflation

On its face, viewing the government’s official numbers, the uninformed observer would assume that inflation really is under control, and that the immediate threat, as touted by mainstream economist is deflation. 

http://www.economicpolicyjournal.com/2010/10/stunning-chart-real-state-of-inflation.html

 

How $GS Goldman Sachs Took Over The American Economy

The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like…

http://www.prosebeforehos.com/article-of-the-day/06/29/how-goldman-sachs-took-over-the-american-economy/