Where Progressive Thinkers and Truth Seekers Gather to be active Public Citizens and Peacfully Pursue Social Justice and engage in conversation and debate about Truth about Government and the Economy and Investing and where Freedom, Justice, Equality and Fairness aren’t just slogans but foundational Principles of Free and Humane Citizens who care about their brothers and sisters on this Earth. Civil Debate and Solution oriented thinking and educational resources and an intellectual community are welcome here. This is designed to be the ultimate town hall and resource for information and education and opinion to counter balance the increasingly homogeneous establishment news media and spin. In the spirit of JFK, RFK and MLK, this site seeks the path of peaceful resistance to injustice and the pursuit of freedom, justice, social justice and the Spirit of the real America.

Short comment on Interest rates and such. . . Prompted by Paul Krugman. .

Popping in just for a quick “Told you so!” which is bolstered by one of the more favored economists on the O&G list. . . at this time a “johnnie-come-lately” to use an older phrase.

"Everything Is Rigged: The Biggest Price-Fixing Scandal Ever" - Matt Taibbi - Rolling Stone

Another elucidating piece from Matt Taibbi. He nails it on the head and shows the level of complicity and corruption in the regulatory and judicial branches of government in doing little of substance to halt this behavior which is a form of out right thievery.

Everything Is Rigged: The Biggest Price-Fixing Scandal Ever

excerpt:

The Secret World of Gold

I have remained quite on this subject for the most part. I have a little commentary and then I am linking the video for "The Secret World of Gold." Part III is the most interesting and germane to the current manipulations in the market.

Here are my thoughts in simplified terms in regard to the massive attack on gold and silver that has been ongoing for over 2 months and hit full force this week.

"Comex Gold Inventories Collapse By Largest Amount Ever On Record" - Nick Laird

While the MSM and the primary dealers and bullion banks (who have been manipulating the prices lower in a ferocious manner the last few months) have been selling the idea that bull market in gold has ended, in the meantime, the rate at which physical gold is exiting the COMEX vaults is at the all time highest record. Has the manipulation been a cover to allow those trying to make good on their lease and swap options able to buy at lower prices? How much longer can the masquerade that QE is not long run causing monetary push inflation be sold?

"Helicopter QE will never be reversed" - Telegraph - Ambrose Evans-Prtichard &quotesmonetary theorist Professor Michael Woodford

What I've been saying all along. His solution is interesting.

Excerpt:
Helicopter QE will never be reversed
Readers of the Daily Telegraph were right all along. Quantitative easing will never be reversed. It is not liquidity management as claimed so vehemently at the outset. It really is the same as printing money.
By Ambrose Evans-Pritchard
7:49PM BST 03 Apr 2013

Columbia Professor Michael Woodford, the world’s most closely followed monetary theorist, says it is time to come clean and state openly that bond purchases are forever, and the sooner people understand this the better.

Interview with John Williams of Shadow Stats by Greg Hunter - "Congress Triggers Early Stages of Hyperinflation"

It is clear that Western Central Banks are panicking, using every trick to hammer gold and silver while pumping stocks through the primary dealers, even as economic fundamentals suggest that stocks are very expensive on a forward earnings basis and I would argue on a current earnings basis. There are of course exceptions. Any opportunity to listen to John Williams is one I will take as he provides data.

"The Fed Is Printing Money, But Where Is It Going? They Know But Will Not Say" - Its going to Banks not Mainstreet.

This article definitely has heuristic value. Basically it says the Fed is printing boat loads of money and it is going to banks that (had they to mark their assets to market) and not been the recipient of this massive Fed give away, they would be insolvent. He is also saying the reason we don't see any inflation to speak of is because the money never enters the real economy, doesn't spur growth. In fact, stagflation benefits the largely unregulated banking sector because while inflation remains low, they can keep printing money indefinitely to Wall Street's benefit.

My Take on the Global Financial Situation, Markets, Gold and Silver

The first thing I want to say is that I have no idea about timing in the markets. I want to give a brief summary of my current world view on the global financial markets. There is a lot of talk about the breadth of the recent rally in the US equity markets. There has also been a lot of talk about the gold and silver bull markets being over.

"The Fracked-up USA Shale Gas Bubble" - The Haliburton Loophole

This article is a rare gem of truth on this subject:

The Fracked-up USA Shale Gas Bubble

excerpt:

"In major policy shift, scores of FDIC settlements go unannounced" - When Transparency is Lost, Free Markets lose credibility

It is clear that we are seeing a studious attempt to mask the entropy of corruption. This article points out just one example.

FDIC settlements go unannounced - LA Times

excerpt:

"...Critics describe the FDIC's current practice of low-profile deal-making as a major departure from the S&L crisis.

"China's Extreme Real Estate Bubble: Globalization Is a Fraud, a Castle Built On Sand" - Jesse's Cafe Americain

Much of the talk of a stronger global economy centers around China. What is studiously ignored most of the time is the fact that China has patterned a major portion of their "growth" strategy around real estate development and much if not most of that real estate sits empty, even as wages in China have not seen the kind of growth that would enable these "real estate investments" to bear fruit. I'll post the link to this very visual and compelling 60 Minutes piece (commercials included unfortunately) and then Jesse's lucid commentary.

"Supreme Court once again undermines the search for Justice. Supreme Court Ruling a Blow for Future Financial Crisis Cases"

After watching the PBS Frontline documentary, the untouchables (see a recent post on this site), we now have given the those who profited so well from their fraud, deception and sociopathic greed and hubris in the events leading up to 2008 a clean slate and they are free to continue pillaging and corrupting government and the Supreme Court injustices have carved their legacy of fascism into stone.

Bureau of Labor Statistics and good news - Controlling Statistics by process

Of particular interest lately are the manipulated statistics indicating a downturn in new applications for unemployment.

"Trade protectionism looms next as central banks exhaust QE" - Ambrose Evans-Pritchard - The Telegraph

Here is a lucid article from Ambrose. Again, he is one of the few mainstream journalists writing about such issues.

excerpt:

"... A new paper for the US Monetary Policy Forum and published by the Fed warns that the institution's capital base could be wiped out "several times" once borrowing costs start to rise in earnest.

And, THEN! . . .FDIC urges you to help banks. . at the bountious interest rate of. . . ZERO!

This was receive via email this AM and is reproduced here without comment other than to point out sensitivity to common problems of the common wage earner is not a universally distributed attribute.

Four Largest Banks Are Now Almost As Big As US GDP: Accounting Hides Risks - Taleb on Fragility

While this is not news to many of us here, it is worth remembering why our government is beholden to the Banks and the Federal Reserve:

Four Largest Banks Are Now Almost As Big As US GDP




Global Dynamics at the Zero Lower Bound – A Working Paper From the St Louis Federal Reserve Bank

The ZLB does more harm than good - for several reasons.

Bubbles, Drones and the destruction of the Constitution - Interview with Frmr Asstnt Treasury Secretary Dr. Paul Craig Robert

To hear a former high level civil servant talking in these terms should be a wake up call. This excellent interview by Greg Hunter with former Assistant Treasury Secretary Dr. Paul Craig Roberts spells out the severity and challenge to liberty we now face.

"Fed Has Bought More U.S. Gov’t Debt This Year Than Treasury Has Issued" - Is this possible?

It is hard for me to understand how this is possible. The Fed is the buyer of only resort it would seem. What else is possible? How can it get better than this?

Fed Has Bought More U.S. Gov’t Debt This Year Than Treasury Has Issued, CSN News

excerpt: "...By the close of business on Wednesday, Feb. 6, according to the U.S. Treasury, the total federal debt had climbed to $16.4799 trillion—an increase of $47.2 billon for the calendar year.

The Untouchables - Frontline PBS - No Accountability, No Justice, The end of civilization

If you haven't seen this you will want to. After you've seen it, pass it on.

PBS Frontline - The Untouchables

The fix is in. HSBC is another blatant example of the level of corruption in Banks and the justice system.

Outrageous HSBC Settlement Proves the Drug War is a Joke - Rolling Stone

Sweden and the US – Another opinion paper from a Swedish economist Final Edit now posted

Lars E. O. Svensson, a board member of the Sveriges Riksbank, Sweden’s central bank, and a professor at Stockholm University, had a paper published in the Brookings Papers on Economic Activity Fall 2011 issue, Practical Monetary Policy: Examples from Sweden and the United States”.

Senator Rand Objects to Voting on Legislation that has not been read by anyone in Congress

The insanity of the current system is illustrated in this straight forward talk. If our own government is voting on legislation it doesn't even read, how can there be any order, planning or management. What can we become aware of, do and be to bring a higher consciousness to the country and the world?

Real GDP vs. MOPE GDP - Inflation and Currency

How can we have a different outcome than what is projected here? What else is possible? Everything is energy and we are souls only occupying bodies. Can we not exercise dominion over the energy we occupy?

Interview with Egon von Greyerz on King World News (click to see charts (they are astonishing!)

Global Pressure is increasing - Banks under fire and regulators prodded by commentators New blog entry

Global Pressure is increasing - a new blog entry by O&G Jan. 23, 2013.

A lead-in to a new blog entry - The rich are saved, now what about the poor?

For those who may be interested in an evaluation which references a statement tossed off sometime ago, - Recession within a recession has been posted in the O&G blog site.

Ex-Congressman touting means of escaping from the US!

Stumbled across this ad. There's no shortage of plans to abandon the mess created her in the US. After all, the recent failed presidential campaign of Romney-Ryan was built around the personal beliefs of the GOP candidates that we were failing and the two had no faith in US money or banks. But here's an open solicitation from an ex-Maryland Representative who pulled out of his re-election campaign back in 1980.

How offshore investments and remote tax havens can save you from the fangs of the IRS and protect you from...

"The Vampire State"

Two Days in January . . . 2013

This entry has been updated and revised as of Jan. 8, 2013

A Review of developments of two eventful days - January 3, 2013 and January 4, 2013.

There have been significant changes in the relative values of global currencies overnight.

Systemic Risk from Global Financial Derivatives: A Network Analysis of Contagion & Its Mitigation with Super-Spreader Tax - IMF

The subject upon which much of the most detailed analysis and thoughtful, solution oriented thinking done by Old and Gray is finally being publicly recognized by the IMF (even if somewhat timidly) as actually embodying the economic and moral hazards of the so called "shared risk" between banks as it pertains to derivatives and in particular the new breed of financial amalgamations referred to as Systematically Important Financial Institution (SIFI's). The article also uses the acronym TITF which translates to "Too Important to Fail Risk".

After Wednesday’s booster rockets died out, what can we predict for US’s main economic engine?

According to CNBC’s Andrea Tse’s article on The Street’s site this AM,

Julia Coronado, chief North American economist at BNP Paribas”, said the "two parties are yet again starting miles apart" on this issue, with Republicans having already indicated that they believe the tax side of fiscal policy has been addressed for now and their focus will be on spending.
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