Infinite Unknown

- Godfrey Bloom of UKIP: Central Bankers Should be Arraigned as “War Criminals” (Liberty Blitzkrieg, May 7, 2013):

Coming off the heels of a fantastic performance in recent local elections, the UKIP under the leadership of Nigel Farage continues to make waves in both the UK and the Continent itself. In this case, I refer to a recent powerful performance at the European Parliament courtesy of Godfrey Bloom (UKIP), member of the European Parliament.

For many years, I have stated that Ben Bernanke was and is committing crimes against humanity, and would one day stand trial much like the war criminals at Nuremberg. It appears I am no longer alone in echoing such sentiments, as Mr. Bloom has just done so before the European Parliament.

I once said that Nigel Farage is Category 5 political hurricane.  That hurricane has landed.

Tags: Bank of England, Banking, Central Bank, Cyprus, Economy, EU, Euro, Europe, Fed, Federal Reserve, Global News, Godfrey Bloom, Government, Mario Draghi, Neuroscience, Nigel Farage, Politics, Quantitative Easing, U.K., UKIP

- This Is The S&P With And Without QE (ZeroHedge, May 6, 2013):

…

One final point: for all those who say the Fed’s QE has “been successful”, or the stock market is sufficiently strong and does not need any more forced liquidity injections, here is a simple suggestion: just end it.

…

Tags: Economy, Fed, Federal Reserve, Global News, Quantitative Easing, S&P 500, Stock Market

YouTube Added: 03.05.2013

Tags: Banking, Barack Obama, Ben Bernanke, Bonds, Central Bank, Collapse, Debt, Dollar, ECB, Economy, EU, Europe, Fed, Federal Reserve, Gerald Celente, Global News, Government, Inflation, Ireland, Jean-Claude Trichet, Mario Draghi, Obama administration, Politics, Quantitative Easing, Retailers, Society, U.S., Unemployment

- Federal Reserve Blows More Bubbles (The Free Foundation, by Ron Paul):

Last week at its regular policy-setting meeting, the Federal Reserve announced it would double down on the policies that have failed to produce anything but a stagnant economy. It was a disappointing, but not surprising, move.

The Fed affirmed that it is prepared to increase its monthly purchases of Treasuries and mortgage-backed securities if things don’t start looking up. But actually the Fed has already been buying more than the announced $85 billion per month. Between February and March, the Fed’s securities holdings increased $95 billion. From March to April, they increased $100 billion. In all, the Fed has pumped more than a half trillion dollars into the economy since announcing its latest round of “quantitative easing” (QE3) in September 2012.

Continue reading »

Tags: Barack Obama, Bonds, Bubble, Collapse, Debt, Economy, Fed, Federal Reserve, Global News, Government, Great Depression, Obama administration, Politics, Quantitative Easing, Ron Paul, U.S., Unemployment

- Bartiromo Vs Schiff: The (Soft) Money-Honey Against The Golden Boy (ZeroHedge, May 4, 2013):

Perfectly summarizing the cognitive dissonance of the mainstream media (and their drone-like viewers), this duel of the Soft-Money-Honey Maria B and Hard-Money Golden Boy Peter Schiff was a tragic farce. Maria comes out swinging, “whether this is a manufactured market or not, you’ve got no alternative but stocks – where’s my yield?” Schiff counters, “there are alternatives” – summarily scoffed at (a-la his-housing appearances in 2006/7) by Mariaremember…

- “we have a completely phoney economy driven 100% by cheap money; the minute you take it away, the whole thing implodes.” And while the ‘fight’ moves on, we are left thinking they are in two different rings since whatever point is made by Schiff is summarily ignored for the status quo.

“QE will be here until we have a USD crisis and the Fed can’t get away with it anymore,” Schiff reminds, adding, “There is no exit strategy… the Fed is bluffing; exit is impossible.”

The glancing blows continue deep into the late rounds. “The reality is we are living in a bubble; and all bubbles burst,” (reminding us of Sam Zell’s comments to the very same CNBC anchor a few weeks back), “it’s unfortunate we didn’t learn that lesson in 2008 but we’re about to learn a much bigger lesson.” Disingenuous laughter follows at Schiff’s suggestion at holding Gold with Maria’s anchoring bias loud-and-proud – “I’m looking for alternatives to stocks, and I can’t find any.”

Schiff notes, “the next crisis will be the USD,” to which Maria incomprehensibly asks “what currency am I going to own if not the USD?” And this is where the fireworks begin as Schiff dares to suggest “you could just have real money Maria” (just as Marc Faber warned her “you don’t own gold, you are in great danger” a few months back).

Continue reading »

Tags: Collapse, Dollar, Economy, Fed, Federal Reserve, Global News, Gold, Marc Faber, Maria Bartiromo, Peter Schiff, U.S.

FYI.

Yesterday, on CNBC’s Squawk Box, Peter Schiff explained how the Fed’s stimulus has only delayed the real recession that will ultimately trigger a dollar collapse, and why Japan is stewing in the same brew of bad money.

“The bottom will drop out of the dollar. The US dollar is going to lose a lot of value. Not only against goods, but against other fiat currencies. The dollar is going to go down, that’s going to push prices up higher in the United States, consumer prices. Eventually the Fed is going to have to turn off the presses in order to save the dollar and that’s when the real fun begins, because that’s when this whole bubble economy implodes…”

Tags: Barack Obama, Bonds, China, Collapse, Debt, Economy, Fed, Federal Reserve, Global News, Government, Inflation, Japan, Nuclear, Peter Schiff, Politics, U.S.

YouTube Added: 29.04.2013

Commentary:

“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. … This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”
- Alan Greenspan

“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”
- John Maynard Keynes

Quantitative easing = printing money = creating money out of thin air = increasing the money supply = inflation = hidden tax on monetary assets = theft!

Tags: Bank of England, Ben Bernanke, ECB, Economy, EU, Europe, Fed, Federal Reserve, Global News, Mario Draghi, Mark Carney, Quantitative Easing, U.S.

Flashback:

- JPMorgan Employee Who Invented Credit Default Swaps is One of the Key Architects of Carbon Derivatives, Which Would Be at the Very CENTER of Cap and Trade

- Will JPMorgan’s “Enron” Be The End Of Blythe Masters? (ZeroHedge, Mai 3, 2013):

One year after the infamous Jamie Dimon “tempest in a teapot” fiasco, which promptly turned out to be the biggest TBTF prop-trading desk debacle in history, things were going well for JPMorgan.

On one hand, the chairman of the TBAC (and thus US Treasury advisor and policy administrator), and former LTCM trader, Matt Zames, was just recently promoted to the sole second in command post at the biggest US bank (and 2nd biggest in the world) by assets, and first in line to take over from Jamie Dimon. On the other hand, one of Mary Jo White’s former co-workers, and a JPM defense attorney from Debevoise just became head of the SEC’s enforcement division, in theory guaranteeing that the US government would never do more than slap the wrist of JPM in perpetuity. Continue reading »

Tags: Banking, Blythe Masters, Enron, Fed, Federal Reserve, Global News, Gold, Government, JPMorgan, Politics, SEC, Silver

- Fed Keeps Interest Rates Low, Continues Bond Buying Program (CNBC, May 1, 2013):

The Federal Reserve held fast to its ultra-accommodative monetary policy Wednesday, solidified by what board members described as an economy weakened by fiscal policy.

Interest rates will remain at historically low levels while the U.S. central bank will not alter its $85 billion a month asset purchasing program, the Fed’s Open Markets Committee decided at this week’s meeting.

…

Tags: Banking, Debt, Economy, Fed, Federal Reserve, Global News, U.S.

- 20 Signs That The Next Great Economic Depression Has Already Started In Europe (Economic Collapse, April 29, 2013):

The next Great Depression is already happening – it just hasn’t reached the United States yet.  Things in Europe just continue to get worse and worse, and yet most people in the United States still don’t get it.  All the time I have people ask me when the “economic collapse” is going to happen.  Well, for ages I have been warning that the next major wave of the ongoing economic collapse would begin in Europe, and that is exactly what is happening.  In fact, both Greece and Spain already have levels of unemployment that are greater than anything the U.S. experienced during the Great Depression of the 1930s.  Pay close attention to what is happening over there, because it is coming here too.  You see, the truth is that Europe is a lot like the United States.  We are both drowning in unprecedented levels of debt, and we both have overleveraged banking systems that resemble a house of cards.  The reason why the U.S. does not look like Europe yet is because we have thrown all caution to the wind.  The Federal Reserve is printing money as if there is no tomorrow and the U.S. government is savagely destroying the future that our children and our grandchildren were supposed to have by stealing more than 100 million dollars from them every single hour of every single day.  We have gone “all in” on kicking the can down the road even though it means destroying the future of America.  But the alternative scares the living daylights out of our politicians.  When nations such as Greece, Spain, Portugal and Italy tried to slow down the rate at which their debts were rising, the results were absolutely devastating.  A full-blown economic depression is raging across southern Europe and it is rapidly spreading into northern Europe.  Eventually it will spread to the rest of the globe as well.

The following are 20 signs that the next Great Depression has already started in Europe… Continue reading »

Tags: Bonds, Children, Collapse, Debt, Deutsche Bank, Economy, EU, Europe, Fed, Federal Reserve, GDP, Global News, Government, Great Depression, Greatest Depression, Greece, Italy, Politics, Portugal, Spain