Mike Mish Shedlock ~ Hedging Emerging Market Volatility

The Fed money is pouring -- right back into the US. Over the last few years, Bernanke's cheap quantitative easing money flowed outward into developing countries. But countries such as India, Indonesia and Thailand have seen currency devaluation of up to 40%. Hedge funds are losing massive amounts of money on QE bets. Just last week India's currency, the rupee, sank to a record level, prompting the Indian Prime Minister's attempt to reassure markets, stating "There is 'no question' of India going back to an economic crisis experienced in 1991, as its rupee currency is now linked to the market and foreign exchange reserves are adequate." Nothing is confirmed until officially denied. Bob speaks with Mike Shedlock, author of Mish's Global Economic Trend Analysis, about the decline in India's rupee and emerging markets. And, Perianne breaks down inflation. There's more to it than meets the CPI -- which, by the way has been changed twenty times over the last three decades. Finally Bob duels Sam Sacks over public private partnerships and the so-called privatization of prisons.

And according to the S&P Case Shiller report released this morning, Las Vegas and Phoenix are in yet another property boom -- dare we say bubble. Only five years ago, prices had begun plummeting, and foreclosed houses were scooped up by private equity groups and hedge funds. But, as we've discussed, they're cashing out.

Also, in July, Detroit's city manager re-calculated the two pension fund's future obligations to retirees. And the number he came up with -- a $3.5 billion shortfall -- suggests the pension funds are in much worse shape than thought. Now, there's a showdown in Federal bankruptcy Court -- and all we can say is Meredith Whitney was just a few years early on her muni meltdown prediction.

Countdown to Financial Collapse ~ G. Edward Griffin

Stefan Molyneux and G. Edward Griffin discuss the basics of the central banking scheme, past examples of honest banking, theft through inflation, monetarily enabling the military industrial complex, false patriotism and how long it will be until the collapse of the current system.

Bankruptcy of America ~ Prophecy in The News

We are, as a nation, truly already bankrupt...like us ordinary folks ("OF")...we run that credit as far as it will go, till we need to see an attorney. The government unlike us OF's can print money based on the OF's future productivity and secured by the OF's birth certificate. That is why becoming an american citizen is not a cakewalk ...you are swearing up yourself and your progeny to the nations debt. Debt owned by China, Japan, Britain, etc.

War on Whistelblowers ~ British Government forces the Guardian to destroy Snowden files

The British government has given the Guardian newspaper an ultimatum: delete all data on Edward Snowden's leaks or risk getting shut down. A few months ago, Guardian reporter Glenn Greenwald revealed the NSA's massive surveillance program through the media outlet and now many see the government's move as retaliation for the leaks. Alan Rusbridger, editor for the Guardian, justified why they chose to comply with the government's request, and Josh Levy, Internet campaign director for Free Press, joins us with his take on the British government's request.

Glenn Greenwald ~ POLICE STATE UK Government Spooks Force Journo's To Destroy Snowden NSA Data

The British government's attempts to stem the tide of articles on mass surveillance have gone beyond intimidating the journalist behind the publications. Just a day after Glenn Greenwald's partner was detained at Heathrow airport, The Guardian's editor came forward describing how the authorities pressured the newspaper to destroy documents provided by NSA leaker Edward Snowden. The UK government has reportedly confirmed the move was sanctioned by the Prime Minister himself.