Filed under: 1st amendment, 2nd Amendment, 4th amendment, ACLU, Al Gore, Barack Obama, Big Banks, Carbon Tax, China, Co2, Congress, Credit Crisis, DEBT, DHS, Dictatorship, DoD, Dollar, Economic Collapse, Economy, Empire, FBI, Fascism, Federal Reserve, Global Warming, Great Depression, Greenback, Gun Control, HR 1966, Hoax, Homeland Security, House, Inflation, NWO, Nazi, New World Order, Oppression, Pentagon, Police State, Ron Paul, Senate, Stock Market, TSA, Taxpayers, US Constitution, US Economy, Wall Street, War On Terror, anti gun, bailouts, barbara boxer, bernanke, cap-and-trade, carbon dioxide, carbon regulation, climate bill, defense department, eco-nazis, economic depression, environmental taxation, free speech, global economy, global government, global tax, hate crime, health and environment, hr 1207, hyperinflation, internet police, mao, maurice strong, nanny state, obama, s 909, s.787, socialism, sovereignty, stasi, tax bill, terrorist watch list, thought crime, water regulation, world government | Tags: america dead, america dying, death of america, Local Law Enforcement Hate Crimes Prevention Act, Matthew Shepard Hate Crimes Prevention Act, Megan Meier Cyberbullying Prevention Act
RED ALERT: The Total Takeover Of America Enters Its Final Phase
Paul Joseph Watson
Prison Planet.com
June 29, 2009
The wholesale looting of America and the transfer of wealth and power over to a private banking elite who are setting up a world government, along with the complete obliteration of any remaining freedom to protest, resist, or even speak out against this agenda, is now entering its final phase as numerous different pieces of the jigsaw puzzle fall into place and portray a clear picture of tyranny.
We are about to sound the death knell for the United States if every one of the following attacks on our liberty, free speech, sovereignty, and right to not be ruled over by an unelected banking dictatorship is not fiercely opposed and crushed.
RED ALERT 1
The passage of the “Climate Bill” by the House and its likely approval by the Senate represents the entrée for the complete and total subjugation of any freedoms we had left and the beginning of nightmare regulation and suffocating control over every aspect of our personal lives by millions of green stasi tasked with enforcing impossible to attain goals of 80% carbon dioxide reduction – all based on the manufactured threat of global warming.
This bill will also sink the economy and create a new great depression, effectively obliterating America’s first world status. It represents a transfer of power and wealth from both the U.S. government and the American taxpayer over to the system of world government and global regulation now being erected by means of the climate change hoax.
This is far worse than just a “new tax” as Republicans are complaining – this is the total takeover of the American economy by private banking interests through the carbon trading system.
As we have attempted to warn, the major beneficiaries of the climate bill will be the elitists who own the carbon trading systems that will be used to handle the ‘cap and trade’ program, namely Al Gore and Maurice Strong, two figures intimately involved with a long standing movement to use the theory of man made global warming as a mechanism for profit and social engineering.
We must rally now to lobby members of Congress who voted for the legislation and demand they change their vote before July 2nd. Failing that, we must demand that the Senate does not rubber stamp this nightmare legislation. Failing that, we must support and organize to craft more legislation based on the example of Arizona, who recently passed state Senate legislation refusing to comply with insane climate laws coming from the federal level.
RED ALERT 2
The seemingly endless economic “bailouts” represent the wholesale looting of the American taxpayer and the grand theft of trillions of dollars by private banking interests who refuse to even disclose where the money went.
Not satisfied with stealing tens of trillions, under the Obama administration’s new regulatory reform plan, the Federal Reserve is now trying to enrich itself with dictator powers that will give it complete control over the U.S. economy, handing them the authority to “regulate” and shut down any company whose activity it believes could threaten the economy and the markets.
We must rally now and lobby more members of Congress to support Ron Paul’s H.R. 1207 bill to audit the Federal Reserve and highlight the fact that Bernanke is spewing financial terrorism when he threatens an economic collapse should the Fed be opened up to scrutiny.
RED ALERT 3
Federal hate crimes legislation, which in reality would criminalize “thought crimes,” has cleared the House and now faces the Senate as S.909, the Matthew Shepard Hate Crimes Prevention Act (officially, the Local Law Enforcement Hate Crimes Prevention Act).
S.909 is a direct violation of the First Amendment. It allows the federal government to prosecute people involved in “hate speech” transmitted over television, radio, and the internet. The House version of the bill states:
“Whoever transmits in interstate or foreign commerce [radio, TV, internet] any communication, with the intent to coerce, intimidate, harass, or cause substantial emotional distress to a person, using electronic means to support severe, repeated, and hostile behavior, shall be fined under this title or imprisoned not more than two years, or both. (HR 1966, SEC 3, Sec. 881a)”
In other words, if a talk show host engages in “hostile” speech against a person or persons of the above mentioned federally protected group that talk show host will face federal prosecution and the prospect of a two year prison term.
The Megan Meier Cyberbullying Prevention Act would similarly criminalize free speech on the Internet if it can be deemed in any way to have been “harmful” to an individual. This represents the end of political blogging and free speech on the world wide web.
If both bills are not opposed and thrown out then the First Amendment will become nothing more than a relic of a bygone age.
RED ALERT 4
The Senate bill S.787, otherwise known as the Clean Water Restoration Act (CWRA), would replace language in the regulatory act currently using “navigable waters” with “waters of the United States.”
What this means is that “the government would essentially be able to regulate everything from standing water in floodplains to creeks that run behind business and residences,” according to an Environmental Leader report.
This represents a complete takeover of private land and waterways by the federal government, a total assault on private property rights and a complete federalization of America’s land and water.
“In a letter to Senate Environment and Public Works Chair Barbara Boxer and ranking member James Inhofe, the American Farm Bureau Federation said that the proposed law would “extend to all water — anywhere from farm ponds, to storm water retention basins, to roadside ditches, to desert washes, to streets and gutters, even to a puddle of rainwater,” stated the letter. “For the first time in the 36-year history of the act, activities that have no impact on actual rivers and lakes would be subject to full federal regulation.”
If this bill becomes law, it will empower the federal government to seize private property on a whim, using similar powers that Communist China employed during Chairman Mao’s “great leap forward,” where landowners had their property violently confiscated and stolen by the government.
If this bill passes the Senate, private property rights in the United States are effectively null and void and the federal government would legally have the power to bulldoze families from their homes as routinely happens in Communist China.
RED ALERT 5
Amongst the myriad of assaults on the Second Amendment rights of American citizens undertaken by the Obama administration during the course of its first year in office, the one that stands out as the most alarming is the attempt to ban people who appear on the terrorist watch list from buying guns.
But isn’t stopping terrorists from buying guns surely a sensible measure to take? The problem is that the terrorist watch list, sometimes called the no fly list, is not a list of likely terrorists, it is a sprawling database of of innocent people that contains the names of over one million Americans. This is a rise of 32% since 2007 alone.
Members of Congress, nuns, war heroes, reverends, the former assistant attorney general, toddlers and children, the ACLU administrator, people with difficult names and all American names like Robert Johnson and Gary Smith, have become caught in the vast tentacle of this list, documents the ACLU.
Moreover, once a person is included on the terrorist watch list it is virtually impossible to get off it.
The terrorist watch list is an ever-expanding tool with which to deny Americans basic rights as well as to strip them completely of the Fourth Amendment.
Now it is being used to prevent law-abiding citizens from purchasing firearms. Legislation sponsored by the The Government Accountability Office seeks to “close the gap” and prevent victims of the terrorist watch list from being able to purchase firearms.
This represents a new end run around the Second Amendment and a concerted effort on behalf of the federal government to classify millions of innocent Americans as potential terrorists, thus stripping them of their Constitutional right to own firearms.
This represents a new end run around the Second Amendment and a concerted effort on behalf of the federal government to classify millions of innocent Americans as potential terrorists, thus stripping them of their Constitutional right to own firearms.
RED ALERT 6
Our right to protest against any of the egregious assaults on the Constitution that are listed above is itself being removed by new law enforcement and Pentagon training manuals and guidelines that define protesting as domestic terrorism.
Current Department of Defense anti-terrorism training course material states that the exercise of First Amendment rights in the U.S. constitutes terrorist activity.
Over the last few years we have documented countless examples of security assessment reports from the likes of the Department of Defense, the Department of Homeland Security and the FBI, as well as police training manuals, which state that anti-war protesters, gun owners, veterans, Ron Paul supporters and those who merely cite the Constitution should be equated with extremists and domestic terrorists.
The fact that the government is now treating people who merely criticize its conduct as domestic terrorists is the clearest signal possible that the United States has entered a period in history similar to Germany in the early 1930’s and that it can only be a matter of time before the right “emergency” provides the justification for dissidents to be targeted for round-ups and mass imprisonment.
No one can claim now that this is merely a paranoid delusion – the government itself is training its law enforcement and military arms that protesters and people who use their First Amendment rights are domestic terrorists. The last time this happened was under King George shortly before the American Revolution.
ONE MINUTE TO MIDNIGHT
If we don’t stand up in unison and exercise our right to protest and free speech now more than ever before, while pointing out that the real terrorists are those who would seek to destroy the freedoms enshrined in the Bill of Rights, then we may find ourselves doing our protesting behind the barbed wires and the concrete blocks of an internment camp.
The hour is late, the clock stands at one minute to midnight, and the federal government, through all the examples documented above, is on the verge of implementing nothing less than a total environmental, financial and societal dictatorship and killing what once was the United States of America.
Almost identical programs of total enslavement are also being pushed through in almost every other major western country at the same time.
If we don’t stop obsessing about the minutia of life and actually concentrate on the imminent destruction of the very principles of our livelihoods, the bedrock freedoms that allow us to operate in relative comfort on a daily basis and be reasonably secure in our own homes, being able to pay our bills, put food on the table, earn money, and air our grievances when government threatens to impinge on those basic freedoms, then there will be nothing left but a rotten hollow carcass and a memory of what America once strived to be – land of the free, home of the brave – not land of the thief, home of the slave.
Filed under: Anton Chaitkin, Australia, Barack Obama, Britain, CDC, Credit Crisis, DEBT, DHHS, DHS, Dictatorship, Dollar, Dr. Ezekiel Emanuel, Economic Collapse, Economy, Empire, Eugenics, Europe, Ezekiel Emanuel, Fascism, Genocide, Great Depression, Greenback, Hitler, Homeland Security, Inflation, Nazi, Population Control, Stock Market, US Economy, United Kingdom, Wall Street, avian flu, bird flu, catastrophic event, depopulation, economic depression, eugenicist, euthanasia, flu pandemic, global economy, health and enrironment, health and environment, health care, healthcare rationing, hyperinflation, london, medical care, nazi germany, obama, pandemic virus, patients, ration, rationing, swine flu
Obama To Deny Health Care To Elderly, Very Sick & Poor People
LPAC
June 22, 2009
In October 1939, Nazi Leader Adolf Hitler issued an order, written in his own hand, ordering the extermination of those who were considered “unworthy of life.” The order, entitled “The Destruction of Lives Unworthy of Life,” stated that patients “considered incurable according to the best available human judgment of their state of health, be accorded a mercy death.”
Hitler’s murder spree started with the mentally ill, the terminally ill, invalids, and the disabled, and eventually spread to millions of Jews, Gypsies, and other “undesirables”—worked to death or exterminated in concentration camps.
This monstrous program was initially sold as an economic measure: “The economic burden represented by people suffering from hereditary diseases is a danger for the State and society,” Nazi Dr. Gerhard Wagner said at the Nazi party congress in 1934. The Nazis required all state institutions to report on patients who were chronically ill, and used those reports as the basis to decide which patients should be killed.
Today, the Obama Administration is beginning to descend down that same road, promising to make the “tough choices” to cut entitlement programs such as Medicare and Social Security to save money—at precisely the time in which an increasing number of Americans are forced to depend on them as the economy slides deeper into Depression. Obama is willing to spend trillions of dollars to bail out the financial markets, and pay for it by slashing programs which keep ordinary Americans alive.
Think we’re exaggerating? Take the case of a paper entitled “What Are the Potential Cost Savings from Legalizing Physician-Assisted Suicide?” It sounds like something that might have been written by Jeremy Bentham, or Aldous Huxley, or maybe Nazi doctor Karl Brandt, but it was actually co-authored in 1998 by “bio-ethicist” Ezekiel Emanuel, brother of White House Chief of Staff Rahm Emanuel, a leading advisor to Obama’s budget director Peter Orszag, and a member of the 15-person Federal Coordinating Council on Comparative Effectiveness Research, the group which has been designated to prepare the list of which medical procedures will henceforth be permitted, and which will not. Emanuel’s co-author, Margaret Battin, has written other papers promoting suicide and selective refusal of medical treatment. The pair are really just echoing Karl Brandt’s defense of euthanasia at Nuremberg: “Death can mean deliverance. Death is life—just as much as birth. It was never meant to be murder.” But it was.
Lyndon LaRouche warned:
The Hitler program has been revived by the Obama Administration. This is straight Nazi stuff. It’s not a quibble; it’s not an interpretation. This is a direct copy of the philosophy of the Nazis. You cannot duck that issue. This is Nazi stuff, it’s explicit. We know all this stuff from Hermann Göring and so forth in the 1920s, and after that with their international connections, like certain Wall Street firms. We have been warned, and we act accordingly. People who condone this are criminals, because they either knew, or should have known, what they are doing. They either knew, or should have known.
This is mass murder. Obama has adopted Hitler’s program. There is no reason to hold one’s tongue. When the President of the United States has adopted Hitler’s program, that’s the time to unleash. This is exactly what I warned about on April 11th in my webcast. Obama has a Nero complex. Obama is the new Nero. This is exactly what is happening. This is Hitler’s policy now being echoed by Obama. Let’s not allow any compromise. You have to attack this directly. He has adopted Hitler’s genocidal health policy.
Doctors and Feds list who won’t get care in flu pandemic
YOUR NEW REALITY
May 25, 2008
When the bird flu pandemic comes, and medical centres and hospitals are overloaded with the sick and the dying, not everyone is going to find the help they need.
In fact, there are tens of millions of people in the United States alone who will be denied help simply because they happen to fit into one of the following categories :
• People older than 85.
• Those with severe trauma, which could include critical injuries from car crashes and shootings.
• Severely burned patients older than 60.
• Those with severe mental impairment, which could include advanced Alzheimer’s disease.
• Those with a severe chronic disease, such as advanced heart failure, lung disease or poorly controlled diabetes.
The Centre For Disease Control, the Department of Health and Human Services and the Department of Homeland Security were all involved in selecting the categories under which people will be left to die.
The above categories are almost exactly the same as the “Leave Them To Die” health care rationing plans prepared by governments in Australian, South East Asia, the UK and most of Europe.
“If a mass casualty critical care event were to occur tomorrow, many people with clinical conditions that are survivable under usual health care system conditions may have to forgo life-sustaining interventions owing to deficiencies in supply or staffing,” the report states.
To prepare, hospitals should designate a triage team with the Godlike task of deciding who will and who won’t get lifesaving care, the task force wrote. Those out of luck are the people at high risk of death and a slim chance of long-term survival.
If followed to a tee, such rules could exclude care for the poorest, most disadvantaged citizens who suffer disproportionately from chronic disease and disability, he said. While health care rationing will be necessary in a mass disaster, “there are some real ethical concerns here.”
While the notion of rationing health care is unpleasant, the report could help the public understand that it will be necessary, Bentley said.
Devereaux said compiling the list “was emotionally difficult for everyone.”
Particularly for 86 year old car accident victims with mental health problems and limited lung capacity.
http://www.infowars.com/the-population-reduction-agenda-for-dummies/
Program Pays Young Girls $1 A Day To Not Get Pregnant
http://www.wxii12.com/health/19843503/detail.html
Filed under: Ahmadinejad, BRIC, Bank of England, Barack Obama, Britain, China, Credit Crisis, DEBT, Dictatorship, Dollar, Economic Collapse, Economy, Empire, Europe, Fascism, Federal Reserve, Globalism, Great Depression, Greenback, IMF bonds, India, Inflation, Iran, Kazakhstan, Medvedev, Mongolia and Afghanistan., NWO, New World Order, One World Government, Pakistan, Russia, SCO, SDR, SDRs, Stock Market, Tajikistan and Kyrgyzstan, UN, US Economy, US Treasury, United Kingdom, Uzbekistan, Wall Street, bilderberg, carl bilt, economic depression, european union, g20, global currency, global economy, global elite, global government, gordon brown, hyperinflation, imf, internationalist, internationalists, jim tucker, london, obama, rothschilds, single currency, socialism, sovereignty, super currency, united nations, world currency, yuan
Global Currency Becoming a Reality
Noworldsystem.com
June 22, 2009
BRIC leaders (Brazil, Russia, India and China) held their first-ever summit in Yekaterinburg Russia last week to discuss ways to complete the New World Order by reforming a better and “more diversified international monetary system” (IMF) that will issue a new global ’super currency’ that will eventually replace all other currencies of the world.
A global ’super currency’ created by the International Monetary System (IMF) is the New World Order plan that will eventually control all sovereign nations of the globe and will issue their own bonds called Special Drawing Rights (SDRs). This is a big step towards a One World Government where a United Nations agency (the IMF) would print the world’s currency instead of sovereign countries having control of their own monetary system.
The New World Order is all about centralization of power, they seek to control every aspect of the world’s society in a dictatorial-manner where everything is filtered through them, the internationalist oligarchs. They think we are nothing more than indentured servants on their global plantation, that we will willingly bend with the wind of the globalist’s agenda to create a one world socialist dictatorship.
At the Bilderberg group in Greece, investigative journalist Jim Tucker reported that regular attendee Carl Bilt “made a speech advocating turning the IMF into a world department of treasury under the auspices of the United Nations.”. Tucker warned this is a giant leap towords the completion of a World Government. He also warns the Bilderberg members will stress to the public that the problem of global economic crisis is the justification for the centralization of power. [Source]
These are the same internationalist elite that created the world economic crisis in the first place through inflation and deflation of currencies through federal reserves of the world. Bilderberg sources say the globalists want an “intense-but-shorter depression that paves the way for a new sustainable economic world order, with less sovereignty but more efficiency”. Tucker’s Bilderberg sources agree saying “Treasury Secretary Geithner and Carl Bildt touted a shorter recession not a 10-year recession….partly because a 10 year recession would damage Bilderberg industrialists themselves”. [Source]
Brazil, Russia and China before the BRIC summit contributed over $70 billion to the IMF in hopes the system will reform and push the new global super currency (SDR bonds). [Source] The Brazilian government currently has around $200 billion in international reserves to invest in IMF bonds to issue debt to developing nations.
BRIC nations have called out for the death of the US dollar and its long held dominance as the main currency in the world financial market. Russian President Medvedev praised the New World Order: “BRIC should create the conditions of a fairer World Order” and called for a “more diversified international monetary system”. Brazilian President before the BRIC meeting said that the global economic crisis has created the conditions for a New World Order: “After the crisis, everyone has become similar. We have the possibility to create a New World Order and together we should improve our relations”.
The BRIC leaders ended the summit to attend another summit of the Shanghai Co-operation Organization (SCO) in Yekaterinburg. The SCO consists of leaders from Russia, China, Kazakhstan, Uzbekistan, Tajikistan and Kyrgyzstan, Iran, Pakistan, India, Mongolia and Afghanistan.
Iran President Ahmadinejad had strong words against the U.S. at the SCO Summit: “Western-style capitalism is falling apart, marking the end of the age of Imperialism” and that the New World Order should be less US-centric because “Washington’s many political and economic woes show that its judgement can no longer be trusted”. [Source]
The BRIC leaders plan to further discuss policies that will create this new global monetary order at the next G20 summit held in the US in September. Obama and Gordon Brown alluded to a New World Order and talks of a new global super currency at the last G20 London summit of 2009:
http://in.reuters.com/article/businessNews/idINIndia-40228820090610
BRIC Nations Call For A Multipolar World Order
http://www.timesonline.co.uk/tol/news/world/us_and_americas/article6514737.ece
Ahmadinejad: We Need New World Order
http://sweetness-light.com/archive/ahmadinejad-we-need-new-world-order
Time for ‘new world order’: Brazilian President
http://www.breitbart.com/article.php?id=CNG.db1c3a82d0827b5cdf05eea3ba146af8.511&show_article=1
BRIC by BRIC: Leaders Summit in Russia
http://www.as-coa.org/article.php?id=1708
London Telegraph Admits Plan For Bank Of The World, Global Currency
http://www.prisonplanet.com/london-telegraph-admits-plan-for-bank-of-the-world-global-currency.html
Cash to become extinct as chips take off
http://www.news.com.au/technology/story/0,28348,25637102-5014239,00.html
G-20 Shapes New World Order With Lesser Role for U.S., Markets
http://www.bloomberg.com/apps/news?pid=20601103&sid=axEnb_LXw5yc&refer=news
G20 will seek new international framework for global financial regulation
http://news.bbc.co.uk/1/hi/business/7957862.stm
Filed under: 9/11 Truth, Barack Obama, Credit Crisis, DEBT, Dictatorship, Dollar, Economic Collapse, Economy, Empire, Europe, FCC, Federal Reserve, Fox News, Globalism, Great Depression, Greenback, Inflation, Media, NWO, New World Order, Sean Hannity, Stock Market, US Economy, United Kingdom, Wall Street, dick morris, economic depression, european union, g20, global economy, global elite, global government, gordon brown, hyperinflation, imf, internationalist, internationalists, london, obama, one world currency, single currency, world government
Hannity: Conspiracy Theorists Are Right About Global Currency
Filed under: DEBT, Dollar, Economic Collapse, Economy, Great Depression, Greenback, Inflation, Stock Market, US Economy, Wall Street, dubai, economic depression, global economy, gold, gold shortage, hyperinflation, redit crisis
Gold Runs Out In Dubai
Gulf News
October 27, 2008
Dubai: A massive rush at jewellery shops has led to a shortage of gold at some outlets, prompting some shopkeepers to overcharge customers, Gulf News has learnt.
Jewellers are seeing a huge rush of buyers as gold prices are currently at a two-year low.
Shopkeepers said the rush, a combined result of the Hindu festival of Diwali and lower prices. has resulted in a shortage of gold bars. But they denied any hoarding by outlets.
“There is enough gold available in the market and sales are at their peak over the last couple of days with the market falling drastically,” jewellers said across the emirate.
Gulf News received complaints from readers who encountered jewellers charging more than the market price.
A buyer who asked not to be named said: “The price of gold prompted me to visit the Gold Souq in Sharjah. However, most retailers claimed they were sold out. Outlets where gold was available were openly overcharging. They said it was in short supply. The price of 24 carat stood at Dh88.75 but they were openly charging Dh92.50. This is clearly an unfair practice.”
Shubash Golati, a buyer, said: “It is a tradition to buy gold during the four-day Indian festival of Diwali. I bought 22 carat jewellery worth Dh5,000. I wanted to buy a 100 gramme gold bar but was told that it is out of stock.”
Shortage
H.R. Bafna, financial controller from Siroya Jewellers, said a physical shortage of gold is happening worldwide.
He said: “It is matter of physical delivery. It might take a day or two to replenish the stocks. But I am sure that there is no hoarding by jewellers because the market rate has dropped. This has resulted in a tremendous rush of buyers and so the gold bars are out of stock.”
In reply to buyers’ complaints that gold outlets are cashing in on the limited stocks and buyer rush, Bafna said: “There is a possibility, but I can’t confirm this.”
A counter salesman at the Joy Alukkas outlet in Bur Dubai said for the last couple of days there have been no fluctuations in gold prices.
He said: “From a customer’s point of view this is an excellent time to buy.”
He too denied any hoarding taking place. “If the demand for gold is high it is but obvious that some stocks will run out. Some retailers take advantage of this.
Filed under: Credit Crisis, DEBT, Dollar, Economic Collapse, Economy, Great Depression, Greenback, Inflation, Stock Market, US Economy, Wall Street, comex, economic depression, global economy, gold, gold shortage, hyperinflation, manipulated economy, manipulated prices, market manipulation, price fixing, silver, silver shortage | Tags: john embry, kitco, paper investment
Physical Gold Remains Over +1,000 an Ounce
Gold buffalo 1oz coins are trading between 300 to 400 over spot price on ebay.
Market Oracle
October 24, 2008
It appears that there is a common refrain going around the investment community. It goes something like this:
“Gold should be doing better, and, since it isn’t, I am not going to buy it”
Investors who believe this are making the mistake of thinking COMEX gold is the same as real physical gold. It is not.
COMEX gold is a form of debt. It involves one party promising to produce gold (money) to another at a future date. Like all forms of debt, a COMEX futures contract is only as good as the counterparty behind the contract. Right now, because of low margin requirements, sellers of gold futures only have enough gold to cover 10% of outstanding contracts stored in COMEX warehouses. Considering that the biggest sellers of gold futures contract are insolvent financial institutions, it is obvious that COMEX gold has enormous counterparty risks . If even a quarter of outstanding contracts asked for physical delivery, it would be enough to guarantee a default. Since a financial collapse would actually creates the risk total default (insolvent banks can’t produce the gold or cash), COMEX gold fails miserably as a safe haven . This is why COMEX gold prices are falling, while physical gold is disappearing from the market place
Because of scarcity, physical gold is selling at an enormous premium to gold spot price (which is set by COMEX). How big a premium? Well, on eBay 2008 gold buffalo are trading between 300 to 400 over spot price. That is a 50% premium. The enormous premiums being paid in the physical market means that a large number of December gold contract holders are likely to request delivery. A volume, whether it causes defaults or not, is likely to change the marketplace perception of gold and cause a rush of into a physical gold plagued by shortages. Gold will skyrocket over 2000 in a matter of days.
I am not the only person who believes COMEX gold futures are on the verge of collapse. I urge you to watch this video (skip to 11 minute mark) and read the extract below to see what others are saying about paper gold:
http://noworldsystem.com/2008/10/26..-is-down-when-it-should-be-up/
Demand For Gold Soars
http://www.telegraph.co.uk/financ..-gold-soars-has-price-tumbles.html
Fitch says gold price will hold up reasonably well over 12-18 months
http://www.mineweb.net/mineweb/vie..=Detail
Filed under: CNBC, Credit Crisis, DEBT, Dollar, Economic Collapse, Economy, Federal Reserve, Great Depression, Greenback, Illuminati, Inflation, NWO, New World Order, Paulson, Stock Market, US Economy, Wall Street, economic depression, global economy, henry paulson, hyperinflation
Filed under: 2008 Election, 9/11 Truth, Afghanistan, Bill Clinton, Colin Powell, Coup, DHS, Dictatorship, Economic Collapse, Economy, Empire, FBI, False Flag, George Bush, Great Depression, Homeland Security, Hugo Chavez, Iran, Israel, John McCain, Lebanon, Madeleine Albright, Martial Law, Military, Mossad, NWO, Neolibs, New World Order, Nuke, OFK bombing, Russia, State Sponsored Terrorism, Syria, Taliban, Tehran, US Economy, Venezuela, WW3, War On Terror, World Trade Center, airstrikes, al-qaeda, barrack obama, biden, catastrophic event, economic depression, egypt, food crisis, food marke, food riots, food shortage, inside job, joe biden, michael chertoff, middle east, military strike, nation building, neocons, obama, occupation, palestine, us military, ww4 | Tags: Emad A. Salem, Ramzi Yousef, cuban missile crisis, Augeas, Heracle, greek, roman, international crisis
Biden Predicts “International Crisis” Within First 6 Months Of Obama Presidency
Kurt Nimmo
Infowars
October 20, 2008
In a striking moment of candor, Joe Biden tells us would-be president Obama will face “an international crisis within his first six months in power and he will need supporters to stand by him as he makes tough, and possibly unpopular, decisions,” Matthew Jaffe reports on ABC News’ Political Radar blog. Speaking at a Seattle fundraiser, Biden said this “test” would likely unfold in the Middle East or Russia. It would likely be coupled with the economy.
“Gird your loins,” Biden told the crowd. “We’re gonna win with your help, God willing, we’re gonna win, but this is not gonna be an easy ride. This president, the next president, is gonna be left with the most significant task. It’s like cleaning the Augean stables, man. This is more than just, this is more than – think about it, literally, think about it – this is more than just a capital crisis, this is more than just markets. This is a systemic problem we have with this economy.”
It is interesting Biden would mention Greek mythology to make his point. Augeas, one of the Argonauts, is best known for his stables, which housed the single greatest number of cattle in the country and had never been cleaned until the great hero Heracles came along. Apparently Biden would have us believe Obama is Heracles, the son of Zeus, know for his extraordinary strength, courage, ingenuity, and sexual prowess with both males and females. Biden also put the senator from Illinois in the same league as John F. Kennedy.
Biden said Obama, if elected, will do something extremely unpopular within the next year and will trend down in the polls. “I promise you, you all are gonna be sitting here a year from now going, ‘Oh my God, why are they there in the polls? Why is the polling so down? Why is this thing so tough?’ We’re gonna have to make some incredibly tough decisions in the first two years. So I’m asking you now, I’m asking you now, be prepared to stick with us. Remember the faith you had at this point because you’re going to have to reinforce us,” said Biden.
Paul Joseph Watson
Prison Planet
October 22, 2008
Joe Biden’s “guarantee” that an “international crisis” will unfold shortly after President Obama takes office conjures up several different possibilities, but it seems the likely outcome will revolve around an announcement that Iran has developed a nuclear bomb, prompting a potential military attack.
“It will not be six months before the world tests Barack Obama like they did John Kennedy,” Biden told an audience in Seattle this past weekend.
“Remember I said it standing here if you don’t remember anything else I said. Watch, we’re gonna have an international crisis, a generated crisis, to test the mettle of this guy.”
The assured tone with which Biden delivered his forecast was staggeringly convincing, and left the observer in no doubt that there will be a major world crisis shortly after Obama takes office. “Mark my words, mark my words,” Biden stressed, adding that “tough” and “unpopular” foreign policy decisions will have to be made.
“I promise you it will occur,” Biden added, “As a student of history and having served with seven presidents, I guarantee you it is going to happen.”
Biden’s use of the word “generated” is even more startling. One of the dictionary definitions we find for the word “generated” is “to bring into existence; cause to be; produce,” which begs the question, will this be another staged and manufactured crisis like the 9/11 attacks, which occurred less than 8 months after Bush took office?
Or will it be something even more serious, a nuclear conflagration involving Russia or Iran?
John McCain raised the specter of nuclear war yesterday when he warned that the United States faces “many challenges here at home, and many enemies abroad in this dangerous world,” before mentioning the 1962 Cuban Missile crisis.
Echoing Biden’s comments, McCain said the next president “won’t have time to get used to the office” and “I know how close we came to a nuclear war and I will not be a president that needs to be tested. I have been tested. Senator Obama has not.”
What is the test to which McCain and Biden refer, and how can they be so sure that it will arrive shortly after Obama takes office should he win the election as expected? What was Colin Powell referring to on Meet The Press when he said, “There’s going to be a crisis which will come along on the 21st, 22nd of January that we don’t even know about right now.”
The most likely scenario seems to revolve around Iran announcing, or the U.S. government claiming, that they are ready to build their first nuclear bomb.
Indeed, the Mossad front news outlet Debka File reported yesterday that “Iran will be ready to build its first bomb just one month after the next US president is sworn in.” The very next sentence of the report ties this in with Biden’s promise of an international crisis immediately after Obama takes office.
“DEBKAfile’s military sources cite the new US timeline: By late January, 2009, Iran will have accumulated enough low-grade enriched uranium (up to 5%) for its “break-out” to weapons grade (90%) material within a short time. For this, the Iranians have achieved the necessary technology. In February, they can move on to start building their first nuclear bomb,” according to the report.
Of course, the legitimacy of these claims are likely to be completely fabricated – the official U.S. National Intelligence Estimate concluded in December that Iran had suspended its nuclear weapons campaign in late 2003 – but the Israelis may be laying the groundwork for a propaganda offensive similar to the “weapons of mass destruction” scam that preceded the invasion of Iraq.
Will the military assault on Iran occur not under the highly unpopular Bush administration, as many had predicted, but under an Obama presidency? Riding into office on a wave of popular approval and support, Obama will have the political capital to get the country behind the attack if the threat of imminent danger is cited – or at least stand by and allow Israel to do the dirty work.
Will a nuclear flash point on the scale of the Cuban Missile Crisis turn out to be the “international crisis” that Biden so vehemently promised? Or will the event take on a different characteristic.
Bush exploited 9/11 to realize the pre-set agenda of his Neo-Con masters months after he was inaugurated and Bill Clinton seized upon the Oklahoma City Bombing shortly into his second term to expand federal power. What will Obama’s crisis be that enables him to offer his contribution to building the American police state?
- A terror attack, or a series of attacks, on major American cities, possibly involving crudely designed nuclear bombs or dirty bombs?
- A complete economic collapse and a new great depression leading to food riots and the imposition of martial law?
- A military showdown with Russia should Russia attempt to invade Georgia or another pro-U.S. Russian satellite country?
- A nuclear showdown with Russia should Russia start a nuclear war with Ukraine, as has been threatened?
- The necessity for another military attack on Afghanistan should the Taliban continue to regain control of the country?
- A confrontation with Venezuela should it be revealed that Hugo Chavez is receiving nuclear bomb technology from Russia or Iran?
- A new escalation in the Middle East should Israel deploy its nuclear arsenal to attack Iran, Syria Lebanon, or even Egypt?
Whatever the new “international crisis” that we have been guaranteed turns out to be, you can bet your bottom dollar that the response to it will ultimately lead to more carnage and a further assault on the fast-disappearing freedoms that we still enjoy – and in that sense under an Obama presidency, the more things “change,” the more they will stay the same.
National Intelligence Spooks Promise Terror Attack For New President
Both Clinton and Bush exploited bombings within first year of taking office, Obama or McCain likely to enjoy the same opportunity
Prison Planet
May 27, 2008
National intelligence spooks are all but promising that history will be repeated for a third time running, and the new President of the United States – likely Barack Obama or John McCain – will be welcomed into office by a terror attack that will occur within the first year of his tenure.
“When the next president takes office in January, he or she will likely receive an intelligence brief warning that Islamic terrorists will attempt to exploit the transition in power by planning an attack on America, intelligence experts say,” according to a report in the Washington Times.
“Islamic terrorists bombed the World Trade Center in February 1993, in Mr. Clinton’s second month as president. Al Qaeda’s Sept. 11 attacks came in the Bush presidency’s first year….The pattern is clear to some national security experts. Terrorists pay particular attention to a government in transition as the most opportune window to launch an attack.”
Naturally, the Washington Times article makes out as if a terror attack within the early stages of a new presidency is a bad thing, but both Clinton and Bush exploited terror in America to realize preconceived domestic and geopolitical agendas.
The 1993 World Trade Center bombing was an inside job from start to finish – it did not come as a “surprise” to the U.S. government since they ran the entire operation, having cooked the bomb for the “Islamic terrorists” that they had groomed for the attack.
In 1993 the FBI planted their informant, Emad A. Salem, within a radical Arab group in New York led by Ramzi Yousef. Salem was ordered to encourage the group to carry out a bombing targeting the World Trade Center’s twin towers. Under the illusion that the project was a sting operation, Salem asked the FBI for harmless dummy explosives which he would use to assemble the bomb and then pass on to the group. At this point the FBI cut Salem out of the loop and provided the group with real explosives, leading to the attack on February 26 that killed six and injured over a thousand people. The FBI’s failure to prevent the bombing was reported on by the New York Times in October 1993.
“Islamic terrorists bombed the World Trade Center in February 1993, in Mr. Clinton’s second month as president. Al Qaeda’s Sept. 11 attacks came in the Bush presidency’s first year….The pattern is clear to some national security experts. Terrorists pay particular attention to a government in transition as the most opportune window to launch an attack.”
Naturally, the Washington Times article makes out as if a terror attack within the early stages of a new presidency is a bad thing, but both Clinton and Bush exploited terror in America to realize preconceived domestic and geopolitical agendas.
Powell Warns Of Coming Crisis “which will come along on the 21st, 22nd of January that we don’t even know about right now”. Steve Watson Speaking on meet the press two days ago, Powell officially endorsed Obama and also made the following statement: “The problems will always be there and there’s going to be a crisis which will come along on the 21st, 22nd of January that we don’t even know about right now. So I think what the President has to start to do is to start using the power of the oval office and the power of his personality to convince the American people and convince the world that America is solid, that America is going to move forward, we are going to fix our economic problems, we’re going to meet out overseas obligations.” Watch Powell make the comment at 2.35 into the following video:
Echoes Biden comments that Obama will be tested in early days of his term
Infowars.net
October 21, 2008
Colin Powell has made bizarre comments that echo the recent declaration by Democratic VP candidate Joe Biden that there will be an “international crisis” early into Barack Obama’s presidency that will test the new president by forcing him to make unpopular decisions.
Is Colin Powell referring to a theoretical crisis that could occur at any time? If so why does he choose a specific date, within the first two days after the inauguration? Also why does he refer to general problems that the new president will have to deal with in a separate context? We are already in an economic crisis, everyone knows that, so what new crisis is Powell talking about?
Chertoff: Change In President Fuels Vulnerability
Bloomberg
October 21, 2008
Homeland Security Secretary Michael Chertoff said the U.S. may be vulnerable to a terrorist attack during the next six months, with violent groups more likely to try to take advantage of a new president and administration.
“Any period of transition creates a greater vulnerability, meaning there’s more likelihood of distraction,’’ Chertoff said in an interview. “You have to be concerned it will create an operational opportunity for terrorists.’’
Albright Agrees with Biden: Obama Will Face Unexpected Test
http://blacklistednews.com/news-1974-0-20-20–.html
Obama Wants U.S. Troop Surge In Afghanistan
http://www.theglobeandmail.com/se..AM.20081022.wcampaign_speech23
Low priority for Palestinian issue if Obama elected US president
http://www.debka.com/headline.php?hid=5655
Filed under: Credit Crisis, DEBT, Dollar, Economic Collapse, Economy, Great Depression, Greenback, Inflation, Russia, Stock Market, US Economy, Wall Street, economic depression, food crisis, food market, food prices, food shortage, global economy, hyperinflation, putin
Russian Grocery Shelves Increasingly Empty
London Telegraph
October 17, 2008
For a generation of Russians who queued daily in the snow for the most basic of staples, the symbolism of a bare supermarket shelf is so powerful that it could potentially destroy the reputation of Vladimir Putin, the prime minister, as saviour of the world’s largest country.
The shortages are not yet widespread. Even so, goods have begun to vanish from dozens of Moscow supermarkets over the past fortnight.
At a branch of the supermarket chain Samokhval in southwestern Moscow, a handful of shoppers pushed their trolleys through empty rows of shelves that once groaned under the weight of imported wares.
The deep freezes hummed, although there was nothing to freeze. Only a row of baked beans, a few jars of olives and sealed cupboards filled with vodka and cheap wine interrupted the void.
Filed under: 2008 Election, Alex Jones, Amero, Australia, BP, Britain, Canada, China, Control Grid, Credit Crisis, DEBT, Dollar, Economic Collapse, Economy, Europe, Federal Reserve, Globalism, Great Depression, Greenback, Inflation, Iran, Japan, John McCain, Lindsey Williams, Mexico, New World Order, North American Union, OPEC, Oil, Petrol, Saudi Arabia, Stock Market, US Economy, United Kingdom, Wall Street, asia, dubai, economic depression, european union, exxon mobil, gas prices, global economy, global elite, global government, hyperinflation, internationalist, internationalists, kuwait, london, manipulated economy, manipulated oil prices, manipulated prices, market manipulation, middle east, muslims, neocons, price fixing, single currency | Tags: arab, alyeska pipeline, Stanley Monteith, shell, oil bourse, t-bills, globalization, one world currency, global currency, global currency system, arabs, oil cut, Bank of Australia, Mohammad Ali Khatibi, the energy non crisis
Lindsey Williams Predicted Oil Will Be $50 a Barrel
Insider of the Global Elite was told: “Price of crude oil is going down to $50 a barrel. . . gas will be $2 to $2.50 a gallon” (1st video @ 7:11). “The entire Arab world will be bankrupt” (2nd video @ 7:34) “. . . you are going to shout and dance on the street at $2 a gallon and mark my words within 3-4 weeks time you are going to shutter in your boots because the dollar is going to go to zero, they’ll have an excuse to bring in the North American Union, they will be able to issue a new currency . . .” (3rd video)
Lindsey Williams on Alex Jones Show, October 26, 2008
Oil falls to $63, OPEC plans on cutting supply of oil
AP
October 26, 2008
Oil prices fell to 17-month lows at $63 a barrel Monday in Asia as investors weighed Friday’s OPEC output cut against growing evidence of a severe global economic slowdown that would undermine crude demand.
Light, sweet crude for December delivery fell 32 cents to $63.83 a barrel in electronic trading on the New York Mercantile Exchange by midday in Singapore.
Investors brushed off a 1.5 million barrel-a-day cut announced by the Organization of Petroleum Exporting Countries on Friday, focusing instead on falling crude demand as economies across the globe reel from the impact of a credit crisis.
On Friday, oil fell $3.69 to settle at $64.15. Prices have plunged 57 percent from a record $147.27 on July 11.
“The mood is fairly negative reflecting worry about the international economic outlook,” said David Moore, a commodity strategist at Commonwealth Bank of Australia in Sydney. “If there is further weak economic data in the U.S. or Europe, prices could come under more downward pressure.”
Iran’s OPEC governor Mohammad Ali Khatibi said Sunday a reduction in production “will be considered” at the group’s next meeting in Algiers in December — a meeting that might even be held early if necessary.
“I thought the OPEC cut was a fairly decisive act, but concerns of recession in the major economies remain dominant,” Moore said. “OPEC’s cut does take a step toward tightening the market.”
http://www.reuter..dName=domesticNews&rpc=22&sp=true
Oil Can Fall to $50-$60 if Credit Stays Tight
http://www.cnbc.com/id/27160853
Oil down 50pc from July high
http://www.telegraph.co.uk/finance/finance..-July-high.html
Filed under: 2008 Election, Amero, Bank of America, Big Banks, Britain, C-Span, CFR, CNBC, Canada, Carroll Quigley, China, Congress, Credit Crisis, DEBT, Dictatorship, Dollar, ECB, Economic Collapse, Economy, Empire, Europe, Fascism, Federal Reserve, France, George Bush, Germany, Globalism, Great Depression, Greenback, Habeas Corpus, Hitler, House, Inflation, John McCain, Martial Law, Media, Nazi, New World Order, Paulson, Police State, Posse Comitatus, Sarkozy, Senate, Stock Market, Taxpayers, US Economy, US Treasury, United Kingdom, WW2, Wall Street, World Bank, Zimbabwe, angela merkel, asia, bailout, brad sherman, central bank, civil liberties, civil rights, corporations, corporatism, economic depression, european central bank, european union, g8, glenn beck, global economy, global elite, global government, gordon brown, henry paulson, hyperinflation, imf, interest rate cuts, internationalist, internationalists, job market, liquidation, london, middle class, morgan stanley, mortgage, national socialism, nationaliation, paris, peter schiff, rate cut, single currency, socialism, sovereignty, tax, unemployment, us sovereignty | Tags: A.W. Clausen, Bretton Woods, centralization, Ewald Nowotny, fiat currency, global currency, global currency system, global financial order, globalists, globalization, international order, Jean-Claude Trichet, Jeffrey Garten, John Mack, José Manuel Barroso, new global monetary authority, one world currency, Timothy Geithner, weimar republic, world economic crisis, world financial system, world monetary system, world money system, world order
Globalists Exploit Financial Meltdown In Move Towards One World Currency
Paul Joseph Watson & Kurt Nimmo
Prison Planet
October 20, 2008
The swift and ruthless exploitation of the economic meltdown on behalf of globalists and central banks revolves around their drive to move towards a one world currency system and an unprecedented centralization of global financial power.
Statements on behalf of world leaders and central banks over the past two weeks have made it clear that the agenda to further collate economic power and control of currencies into the hands of the few is rapidly accelerating – all in the name of solving a financial crisis that was caused as a result of the same fiat money system that the elite themselves created and maintained.
The original Bretton Woods agreement in 1944, spurred by the depression of the 1930s and the second world war, created the International Monetary Fund, the World Bank and laid down common standards for markets around the world. Now with the current financial crisis EU leaders see another opportunity to impose global regulations on sovereign economies.
As the crisis reached its peak at the end of September, British Prime Minister Gordon Brown led the call for “a new global financial order” in which the world financial system would be built around a centrally coordinated policy of international regulation.
Morgan Stanley Chief Executive John Mack has also called for a new global body to oversee the financial crisis, warning that it is like nothing he’s ever seen before.
The sentiment echoes those of elite figures such as CFR member Jeffrey Garten and Timothy Geithner, president of the Federal Reserve Bank of New York, who have both recently called for a “new global monetary authority”, a de-facto global financial dictatorship, operating across borders and forcing nations and corporations to register and adhere to strict monitoring and regulations.
European Central Bank council member Ewald Nowotny told Bloomberg yesterday that the centrality of the U.S. dollar was in question and that a “tri-polar” global currency system is in development between the U.S., Asia and Europe to replace it.
This followed a call by French President to question whether a “worldwide currency system” should be introduced in response to the financial crisis.
“Another subject in tomorrow’s world is that of the great currencies. How many should there be? What should the agreement between these great currencies be? Should we organize a discussion? Should a country like India one day have a global currency?” Sarkozy told a news conference, reports Reuters.
Any discussion would be purely academic, as the ruling elite long ago decided to force a global currency down our throats. In fact, a global currency is at the very core of their plan to dominate the world. Control money and you control the destiny of states, you eliminate national sovereignty. “The control of money and credit strikes at the very heart of national sovereignty,” A.W. Clausen, president of Bank of America once observed.
As Georgetown professor and CFR historian Carroll Quigley noted, the goal of the banking families and their minions consists of “nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole… controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences.”
It remains to be seen if the EU will realize its “solution” to the world economic crisis. In 2007, Robert Mundell, “the father of the euro,” noted that “international monetary reform usually becomes possible only in response to a felt need and the threat of a global crisis.”
Certainly, the elite cooked up an appropriate global crisis, now they will engage in a full court press to establish a global currency and eventually a global government.
EU Leaders Call for Global Currency
Kurt Nimmo
Infowars
October 18, 2008
If we are to believe the Washington Post, French president and current EU leader Nicolas Sarkozy has pledged to save us from nameless “freewheeling bankers and traders” who get the blame for the current economic crisis.
Sarkozy, Gordon Brown, and EU honcho José Manuel Barroso are talking up an international summit to discuss an “urgent overhaul of the world’s financial architecture,” that is to say a new Bretton Woods to establish a brand spanking new international economic order. Sarkozy has managed to grab George Bush’s ear and he will travel to Washington on Saturday to lay the groundwork for a conference.
In 1944, 44 allied nations met at a resort in Bretton Woods, New Hampshire, to fiddle with monetary standards, fix exchange rates, and create the IMF and World Bank. “Launching a remake of this old model — particularly in such a short time, with so many new participants — would represent a daunting challenge at any time, but particularly during the twilight of the Bush presidency and the crisis that is still jolting banks and stock markets around the world,” reports the Post.
Sarkozy and the EU leaders would have us believe this new Bretton Woods will call for “globally coordinated regulation of the financial industry, elimination of tax havens and a compensation system in which traders are not rewarded for dangerous risk-taking,” among other things.
It was the demise of Bretton Woods in 1971, insists European Central Bank president Jean- Claude Trichet, that led to the abandonment of regulation and subsequent market turmoil. “The explosion of the first Bretton Woods in a way could be interpreted as a rejection of discipline,” said Trichet, reports Bloomberg.
Gordon Brown, the former Chancellor of the Exchequer, wants to fix that turmoil with a new spate of regulations aimed at international finance. On October 13 in London, Brown said “we must devise new rules for a world of global capital flows” just as the founders of Bretton Woods “devised rules for a world of limited capital flows.”
“We now have global financial markets but what we do not have is anything other than national and regional regulation and supervision,” Brown lamented from Brussels.
All of this is nonsense. It should be obvious by now the bankers engineered the current crisis in order to consolidate their hold on the global economy and all the talk about rogue traders, tax havens, and over-compensated executives is merely that — talk, or more specifically a sales pitch, a slick parlor trick devised to fool the commoners.
Glossed over in all the corporate media coverage is the global elite demand that a global currency be established. “Europe wants to present a blueprint for a new worldwide currency system,” reports the AFP in the video here.
“Another subject in tomorrow’s world is that of the great currencies,” Reuters reported Sarkozy musing on October 16. “How many should there be? What should the agreement between these great currencies be? Should we organize a discussion?”
Glenn Beck On One World Currency
“There is a global meltdown coming, it is a global depression, a One World Currency and One World Financial System is the ENDGAME! China said last week said they want One Global Currency, France said yesterday or the day before that they want One World Order a New World Order at the end of this event!” - Glenn Beck
CNBC: The New World Order is in effect on wall street
http://www.prisonplanet.com/calls-for-new-global-financial-order-increase.html
Tri-Polor Global Currency A Possibility
http://www.bloomberg.com/apps..&sid=apjqJKKQvfDc&refer=home
http://www.nationalpost.com/news/story.html?id=885494
G-8 Announces Global Summit On Financial Crisis
http://news.yahoo.com/s/a..t=Ah6wNwIX5KlE5B1m5eFoDXlbbBAF
Bush & Allies Pledge Joint Action On Economy
http://www.youtube.com/watch?v=InFBnX87lzU
Brown: Use This Crisis To Create New Financial World Order
http://www.prisonplanet.com/..new-financial-world-order.html
Filed under: Big Banks, Credit Crisis, DEBT, Dollar, Economic Collapse, Economy, Great Depression, Greenback, Inflation, Oil, Petrol, Stock Market, US Economy, Wall Street, comex, economic depression, food crisis, food market, food prices, food shortage, gas prices, global economy, gold, gold shortage, hyperinflation, manipulated economy, manipulated prices, market manipulation, nationalization, price fixing, silver, silver shortage | Tags: bank run, kitco, paper investment, run in banks
Why Gold Is Down When It Should Be Up
Alex_Wallenwein
The Market Oracle
October 13, 2008
Why is gold dropping right now when anyone in their sane mind would expect it to rise? The simple answer to this question is, “because Comex-gold isn’t gold” – and because it deceptively pretends to be ‘the’ price-setter for real gold.
Gold is gold, paper is paper, and “Comex gold” is nothing but paper masquerading as gold while simultaneously pretending to be the price-setting medium for actual gold in the world. Now, finally, Comex-gold is in the process of being unmasked.
The real supply and demand determinants for Comex gold are not actual gold investors but fund managers . Fund managers are inextricably intertwined with the world of contract-based credit instruments. They use bet on Comex gold contracts to hedge their other (currently horrendously losing) bets with something they all, in their in-bred belief in paper markets, believe will ‘go up’ in value while everything else is going down.
However, these very same fund managers and their paper-bound investment psychology are the exclusive reason why Comex gold is dropping in these times when everyone (including fund managers) expects gold to rise. As already stated, though, and as they now finally realize to their own dismay, Comex-gold just isn’t gold – and that causes even further selling.
Two Losing Bets, Compounded
Fund managers’ other bets are losing money fast, now, so they need to raise cash to keep up the overall value of their respective funds, so they can earn their management bonuses and avoid getting booted for lack of relative performance. Guess what they cash in on? The very same Comex paper-gold they mistakenly bought as a ‘hedge’, of course.
Meanwhile, real investors in real gold are enjoying their shopping spree – except that the spree turned into a treasure hunt as the shelves and display cases of gold dealers look more and more like the supermarket shelves in the old Soviet Union – bare.
This is the only ‘bare-market’ in real gold the world will see for a long, long time to come.
With this split, this disconnect, between Comex illusion and gold reality, one thing or the other will have to give, and it won’t be physical gold that gives.
The system built up around the reputation of Comex-gold as being a price-setting mechanism for real gold plays right into the hands of the financial establishment. The establishment depends for its (now increasingly meager) existence on the illusion that gold “isn’t living up to its promise” as a real inflation and disaster hedge. The implication, of course, is that investors might as well stay in the computer blip and paper world.
As the Comex gold price illusion drops, many retail investors are still persuaded to keep their money circulating in the paper world, and that ultimately feeds the system. Of course, by now that ‘feeding’ mechanism looks more like life-support, but try and unhook someone who is on life-support. The results are dramatic, inevitable, immediate – and final.
Yet, even on life-support, the system is deteriorating at a catastrophic pace. It would be hilarious to watch if it wasn’t for the fact that we are all depending on this phony system for our real-life support. Without credit freely circulating through the commercial paper universe, for example, grocery stores won’t have food on their shelves, there won’t be gas a the gas station, and your bank will be shut. Cash doesn’t transfer very well without the bank settlement process.
That’s the problem.