Monday, May 6, 2013
No Bank Deposit is Safe ~ Rick Ackerman
All Depositors Everywhere Should be Scared for their Money-Rick Ackerman
Ackerman of RickerAckerman.com fears confiscation of bank deposits and says, "All depositors everywhere should be scared for their money. Cypress should have spooked the whole world, and it did! I think it makes the likelihood of some sort of black swan event even greater." Join Greg Hunter as he goes One-on-One with trader and forecaster Rick Ackerman.
Sunday, May 5, 2013
Kim Jong-un has at least U.S.$1 Billion at Secret Accounts in European Banks
(AriangNews) Meanwhile, a U.S. daily says North Korean leader Kim Jong-un and his family are secretly holding at least one billion U.S. dollars in European bank accounts.
Citing intelligence officials, The Washington Times reported that Kim has secret accounts in several banks in Switzerland, Austria and Luxembourg.
North Korea is known to have debts worth some 14 billion dollars in over 30 countries.
It owes Japan some 400 million dollars, Sweden 330 million, and Iran 300 million.
The newspaper emphasized that these countries should increase pressure on Pyongyang to pay back what it owes, as that could further squeeze the finances the regime uses to develop missiles and nuclear arms.
Number of Homeless Americans Rising
In 2010, US President, Barack Obama promised to end homelessness for children within a decade. Three years later, the number of families living on America's streets is on the rise. Many people blame the state of the economy, but other factors are making the problem worse.
Ron Paul ~ The Federal Reserve Blows More Bubbles
Ron Paul's Texas Straight Talk 5/6//13: Federal Reserve Blows More Bubbles
Federal Reserve Blows More Bubbles
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.
Although many were up in arms when the Fed said it would buy $600 billion in government debt outright for the previous round, QE2, all seems quiet about the magnitude of QE3 because it doesn't come with huge up-front total price tag. But by year's end the Fed's balance sheet could hit $4 trillion.
With no recovery in sight, where's all this money going? It is creating bubbles. Bubbles in the housing sector, the stock market, and government debt. The national debt is fast approaching $17 trillion, with the Fed monetizing most of the newly issued debt. The stock market has been hitting record highs for the past two months as investors seek to capitalize on the Fed's easy money. After all, as long as the Fed keeps the spigot open, nominal profits are there for the taking. But this is a house of cards. Eventually, just like in 2008-2009, the market will discipline the bad actions of the Fed and seek to find the real normal.
In the meantime, real families are suffering. While Wall Street and the government take advantage of access to the Fed's new "free" money, the Fed claims there is no inflation. But who hasn't paid higher prices at the grocery store, the gas pump, for tuition, for insurance? It's bad enough that household incomes have stagnated, but real purchasing power has declined so much that one in seven Americans, 47.3 million people, are on food stamps. Five million are collecting unemployment insurance with 21.5 million afflicted by unemployment according to the government's own figures. That's 13.9 percent -- close to double the 7.5 percent unemployment number reported last week.
We are certainly not in a recovery. We don't see the long unemployment and soup kitchen lines like in the Great Depression, but that's just because the lines are electronic now.
It is not surprising the Fed has decided to hand the American people more of the same failed policies. But it is disappointing. We know what the real solution is: allow the marketplace to work. Allow entrepreneurs the chance to create instead of stifling innovation with arbitrary regulations. Allow interest rates to rise to equal the risks in the economy. Allow bad debts to be liquidated so we can build on a firm foundation. Stop printing money to benefit the government and big banks. Restore sound money to the economy and the American people. Sound money is the bedrock for prosperity and the best check on big government and crony capitalism.
Federal Reserve Blows More Bubbles
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.
Although many were up in arms when the Fed said it would buy $600 billion in government debt outright for the previous round, QE2, all seems quiet about the magnitude of QE3 because it doesn't come with huge up-front total price tag. But by year's end the Fed's balance sheet could hit $4 trillion.
With no recovery in sight, where's all this money going? It is creating bubbles. Bubbles in the housing sector, the stock market, and government debt. The national debt is fast approaching $17 trillion, with the Fed monetizing most of the newly issued debt. The stock market has been hitting record highs for the past two months as investors seek to capitalize on the Fed's easy money. After all, as long as the Fed keeps the spigot open, nominal profits are there for the taking. But this is a house of cards. Eventually, just like in 2008-2009, the market will discipline the bad actions of the Fed and seek to find the real normal.
In the meantime, real families are suffering. While Wall Street and the government take advantage of access to the Fed's new "free" money, the Fed claims there is no inflation. But who hasn't paid higher prices at the grocery store, the gas pump, for tuition, for insurance? It's bad enough that household incomes have stagnated, but real purchasing power has declined so much that one in seven Americans, 47.3 million people, are on food stamps. Five million are collecting unemployment insurance with 21.5 million afflicted by unemployment according to the government's own figures. That's 13.9 percent -- close to double the 7.5 percent unemployment number reported last week.
We are certainly not in a recovery. We don't see the long unemployment and soup kitchen lines like in the Great Depression, but that's just because the lines are electronic now.
It is not surprising the Fed has decided to hand the American people more of the same failed policies. But it is disappointing. We know what the real solution is: allow the marketplace to work. Allow entrepreneurs the chance to create instead of stifling innovation with arbitrary regulations. Allow interest rates to rise to equal the risks in the economy. Allow bad debts to be liquidated so we can build on a firm foundation. Stop printing money to benefit the government and big banks. Restore sound money to the economy and the American people. Sound money is the bedrock for prosperity and the best check on big government and crony capitalism.
The Alex Jones Show - Sunday, May 05, 2013 (Full Show)
On the Sunday, May 5 edition of the Alex Jones Show, Alex covers the outrageous Israeli strike on Syria, and the total Twilight Zone-like bizarreness of Syria being unable to retaliate or defend itself due to the dilemma that any form of reprisal would likely give a green light for a full scale military assault by the US and Israel. Alex also breaks down how the West is committing war crimes by funding and arming the Al-Qaeda-led Syrian rebels, and examines the "It can't happen here" mentality comforting naive Americans. On today's show, Alex will also analyze the persecution of Christians in the military and recently at a high school in Texas, and get into how the Boston bombing suspects being denied legal counsel is complete defiance of the Sixth Amendment of the Bill of Rights.
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