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SATURDAY - JULY 11, 2009 071109(3)_IF
P. O. Box 510518, Punta Gorda, FL 33951-0518 An international financial, economic, political and social commentary. Published and Edited by: Bob Chapman
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For the best in pricing and service for gold and silver coins, call Melody at 1-800-3754188. Be sure to listen to DGSTC with Bob Chapman live on Short-wave 7.415Mhz M-F 4:00PM ET, Replays Tuesday thru Friday 8pm RT 7.465Mhz 3.215 MHz M-F 11PM ET and weekly archives at discountgoldandsilvertrading.net JOHN STADTMILLER – Republic Broadcasting Network www.republicbroadcasting.org – every Tues. at
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ALEX JONES - GCN.live.com -Noon on shortwave 1st hour: WWCR 9.985 and 2nd & 3rd Hour: Every Friday – noon CST. WWCR 9975 - Here are some of the recent Alex Jones shows that Bob has appeared on. Mon thru Fri Noon to 4 pm EST, 12160 http://www.youtube.com/watch?v=JIQ1Qrv_AUE RAYELAN ALLAN – July 15, 2009 BUTCH PAUGH – Thursday, July 16th, 2009 9 p.m. EST - Also on your computer on www.gcnlive.com <http://www.gcnlive.com/> . LIVE FM STATIONS 9:00 PM EST.-88.3 FM ROTX Campbell, TX- 92.7 FM Lexingon TN-102.9 FM in Lutz, FL-89.7 FM Nettie, WV-89.7 FM North Branch, MN-91.9 FM Kerrville, TX97.5 FM Dallas, TX-91.1 FM Austin, TX-97.5-91.1 FM Austin, TX-91.7 FM Fredericksburg, TX-91.7 FM Johnson City, TX-90.1 FM Round Rock, TX-90.1 FM Austin, TX-96.3 FM Austin, TX-95.7 FM Dallas, TX93.3 FM Valparaiso, IN-90.7 & 88.5 FM Cosby, TN-88.3 FM Meadsville, PA-100.3 FM Kamia, ID-89.7 FM Presque Isle ME-97.7 FM Greenville, SC-107.1 FM Oklahoma City, OK-90.1 FM Gatlinburg, TN-102.7 FM Tampa, FL-KGGM 93.5 FM Delhi, LA LIVE AM STATIONS 9:00 EST.-WIJD 1270 AM Mobile, AL, KIOU 1480 AM Shreveport, LA,WFAM 1050 AM Augusta, GA-WELP 1360 AM Greenville, SC-WCPC 940 AM Tupelo, MS-WROL 1340 Providence, RI-WITK 1550 AM in Scranton/Wilkesboro, PA-WNNY 1090 AM Pensacola, FL-WARL 1320 AM Attleboro, MA-1380 WLRM AM Chattanooga, TN-WYYC 1250 AM York, PAWNVY 1070 AM Pensacola, FL-KGEZ 1600 AM Kalispell, MT REBROADCAST FM STATIONS- 91.9 FM Macon, GA 7:00 AM-91.9 FM Freedom radio Jones City, GA 8:00 AM Est. REBROADCAST AM STATIONS-KCKN AM 1020 Roswell, NM 10 PM Est.-KMET 1490 AM 11 AM Pst. - WASB 1590 AM Brockport, NY 5-6 PM Est.- WRSB 1310 AM Canandaigua, NY 5-6 PM Est.-WBCR 1470 AM in Alcoa, TN 78 AM Est.-WVOG 600 AM New Orleans, LA 5:00 PM Est. ALAN STANG: radio show, The Sting of Stang, airs from 11 a.m. to 1 p.m. Central, M-F, via Republic Broadcasting Network. Call him on the air at (800) 313-9443. To listen, go to republicbroadcasting.org and click on Listen Live. If you can't listen at that time, do so via the archives. I'll be talking about the various manifestations of the conspiracy for world government, its tactics, such as the illegal alien invasion, its purposes and its players, from Jorge W. Boosh on down.] ERSKINE: Thursday, - every 3rd Thursday – 2:00 pm CST GCN.live.com Drew Raines: - Every Thursday
Those of you interested in the latest input concerning the world financial interest and what to do during these times of financial unrest . TODAY AND EVERY THRUSDAY we have for your pleasure Mr. Bob Chapman founder/editor of "The International Forecaster" http://www.theinternationalforecaster.com 4pm-5pm Chicago time zone USA listen live www.amd.elequity.com "Clilck on "Current Show / Listen Live" this show is accessible as current show for 20 hours after production and on demand from the archive direct link and as "Archives & on Demand" any Thursday date is Mr. Bob Chapman's show. *** all shows are FREE to access & download *** 2nd Hour Colorado, Al and Drew discuss the perspective of News & Events around the world and the attacks on our Constitutional Rights to live in Liberty growing our Organic Foods and Herbs for our safety & our health also available on 11 international phone bridges around the world USA: 347-308-8047 -bridge code 48334. Drew can be reached at 501-565-1833.
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Lets Get Real With Reuben Torres " is an open forum where topics on politics, immigration, health, education, and other global issues, that affect our country and the world at large, are discussed and debated at local, national, and global levels. "Lets Get Real With Reuben Torres "airs every Tuesday evening from 9:00 pm to 10:00 pm unless otherwise noted. - Next appearance: July 14th.
Farren Shoaf –June 9th, 2009–The Real News Radio http://www.blogtalkradio.com/derekdreamer/2009/07/15/interview-wbob-chapman Bob Chapman (frequent guest on the Alex Jones Show) will be back on to tackle current events. July 15, 2009
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<http://www.youtube.com/watch?v=trbfxyVJ1iY&feature=channel_page> Radio Liberty part 1 <http://www.youtube.com/watch?v=lZRH2CtEu2k> RBN Part 1 <http://www.youtube.com/watch?v=iZ-aBsFdJpY> http://www.youtube.com/user/TheBobChapmanChannel http://www.youtube.com/watch?v=cYjLAgKfLrM
For a Few Bailout's More http://www.youtube.com/watch?v=qq8-HydyftA&feature=channel_page
Billions more needed for financial rescue http://www.youtube.com/watch?v=3lLkq7P2BXM&feature=channel_page http://www.clipser.com/profile.php?member=TheBobChapmanChannel Our show with; Stephen Lendman - Easy to download the program. Go to Republic Broadcasting.org, then archives, then login User ID - stephen lendman Password - 817sl http://www.youtube.com/profile?user=Kgallagher01&view=videos&query=chapman ***** The link to the Political Pistachio Radio Revolution episode you appeared on is: http://www.blogtalkradio.com/politicalpistachio/2009/06/28/Political-Pistachio-RadioRevolution Thank you, Douglas V. Gibbs www.blogtalkradio.com/politicalpistachio, Host, Producer www.politicalpistachio.com, Founder www.americandailyreview.com, Co-Founder, Senior Writer ***** SCHEDULED ISSUES Wednesday, July15, 20009 Saturday, July 18, 2009
Wednesday, July 29th, 2009 NOTICE – NOTICE – NOTICE There will NOT be an issue of the FORECASTER on SATURDAY, July 25, 2009
US MARKETS The latest Treasury auction of $19 billion of 10-year notes was at a yield of 3.365%. The bid to cover was 3.28 to 1, the highest ever. This was the third of four sales this week totaling $73 billion. Consumer credit fell $3.23 billion in May, as credit fell 1.5% to $2.5196 trillion from $2.522 trillion in April. Four monthly declines matches June-December of 1991. Big loans fell $400 million, or 0.3%. Revolving credit fell $2.9 billion, or at a 3.7% rate. We are now al most six months into the depression approaching a 1932 scenario. America is now the world’s biggest debtor. The US has had a fiat currency for 38 years and major trade deficits for more than 30 years. Is it any wonder we are in depression? Is it any wonder the dollar is under pressure even though our government supports it at every turn in the market? The world is looking aghast at the dollar as the Treasury runs short of money to fund its deficit beyond revenues of $1 to $3 trillion and as the Fed monetizes trillions of dollars. What would you think if you had 64.5% of your foreign exchange in US dollars? That is almost $1.8 trillion. Some of these buyers have ceased buying and if that continues interest rates will head higher and the cost of carrying such debt will increase. As a result the dollar, of course, would move lower. Higher yields on 10-year T-bills translate into higher mortgage rates as real estate inventory continues to grow, a terrible formula for the economy. We estimate fiscal 2009 to have a deficit of more than $2 trillion and incoming revenues will only make up less than half of that. In spite of the protestations of our Treasury Secretary Tim Geithner that the deficit will be reduced, our president guarantees $1 trillion annual deficits as far as the eye can see. Cuts will never come and the dollar will fall because that is the way the elitists want it to be. Only from the ashes of economic and financial collapse can the new world order rise. Our government says one thing and does another. They want to maintain confidence and trust, but at the same time proceed with the destruction of the monetary and financial system. We are told that next month the monetization will end, when in fact the Fed will not have completed its $3 trillion monetization of Treasuries and Agencies and bank toxic garbage. Europeans, the Japanese and the British all want their currencies lower in value versus the dollar, believing that a cheaper currency is somehow a magic elixir for trade and, of course, that isn’t always the case. In fact, the latest efforts to subdue the euro haven’t been very successful. The dollar has been incapable of breaking up and out of 81 on the USDX. At the same time, for now the euro has retreated from $1.42 to just above $1.38, but it won’t last. Simply, the US is in worse trouble than the eurozone. The latest madness to come out of CNBC/Wall Street and Washington is Rebuild America Retirement bonds. This idea is being foisted on us by none other than the resident CNBC shill Jim Cramer. These bonds do not as yet exist, and Cramer’s proposal regarding them is a trial run to gauge investor reaction. The idea was proposed on “Mad Money,” which we found appropriate. These bonds supposedly would strike a medium between risk, safety and income. They certainly wouldn’t offer growth with the dollar falling in value. Cramer said investment options are somewhat limited today, and that he didn’t want to see people falling prey to investment scams. He probably had his friend Bernie Madoff in mind.
This “Mad Man Cramer” has called upon the Treasury Department to issue 30year, 5% bonds. As you know our Treasury has so much paper to sell that it has had to ask the Fed to monetize, create money out of thin air, to fund $3 trillion in treasuries, Agencies (Fannie –Freddie-FHA, etc.), and toxic garbage securities from America’s biggest elitist banks. Inadvertently, the secret Fed refuses to divulge what they are paying for such garbage. These 30-year, 5% Treasuries would be offered as a way to help families, who are desperate after having lost some 50% of their investments in the market to recover their savings. You might call them modern day Continentals. This newest monstrosity is designed specifically for 401(k)’s, IRA’s and 529 college savings plans. They’d be commission free and the 5% would compound. Cramer tells us they’d double in 14.5 years. Supposedly these funds would go toward economic recovery. How can that be when the Treasury is struggling to cover a $1 trillion plus budget shortfall? What Cramer and the elitists are trying to do is entice the average American into funding the administrations out of control spending. Don’t forget our president has told us we’ll have annual budget shortfalls of $1 trillion or more as far as the eye can see. Fools and their money are soon parted. This is another scam to keep the American economy afloat. Anyone who invests in US government paper is stupid and they deserve to lose their money. This shows you how the elitists totally control CNBC to do their bidding. July 3 MBA Mortgage Applications rise 10.9%. About $29 billion from President Barack Obama’s $787 billion economic stimulus package has been provided to state and local governments, a pace slightly ahead of schedule, according to congressional auditors. Most of the money is allocated for health care and education and makes up about 60 percent of the stimulus funding states and local governments will get for fiscal 2009, the Government Accountability Office said in a report obtained by Bloomberg News. More than 90 percent of those funds are being used to maintain benefits under Medicaid, the government health-care plan for low-income Americans, and to shore up education programs, the report said. Many states are using money allocated for highway improvements on repaving projects because they put people to work quickly, it said. State officials said bids are coming in below estimates because so many contractors are looking for work. The analysis was based on information from 16 states and the District of Columbia, which represent about 65 percent of the U.S. population. The $3.5 trillion commercial real estate market is a ticking “time bomb” that may lead to a second wave of losses at large U.S. banks, congressional Joint Economic Committee Chairwoman Carolyn Maloney said. About $700 billion in commercial mortgages will need to be refinanced before the end of 2010 and “doing nothing is not an option,” Maloney, a New York Democrat, said at a committee hearing today. This “looming crisis” may lead to significant losses for banks, force shopping center and hotel owners into bankruptcy, and impede economic recovery, she said. The response by banks to this “growing threat has been slow and inadequate,” said James Helsel, a partner at RSR Realtors in Harrisburg, Pennsylvania, and treasurer for the National Association of Realtors. “The lack of liquidity and banks’ reluctance to extend lending are also becoming apparent in the increasing level of delinquent properties.” There were 5,315 commercial properties in default, foreclosure or bankruptcy at the end of June, more than twice the number at the end of last year, with hotels and
retail among the most “problematic,’ Real Capital Analytics Inc. said in a report yesterday. Losses on commercial mortgage-backed securities, or CMBS, will total 9 percent to 12 percent of the market, or as much as $90 billion, said Richard Parkus, a research analyst for Deutsche Bank Securities in New York. Government insured home loans jumped to 36 percent of all U.S. mortgage applications in June, the highest since 1990, the Mortgage Bankers Association said. Federal Housing Administration and Veterans Administration loan applications increased in market share from 25.7 percent in May and from 27 percent a year earlier, the Washington-based trade group said today in a statement. Borrowers are turning to government backing to offset stricter lending by banks. About 50 percent of banks tightened requirements for prime borrowers in the first quarter, asking for bigger down payments and more savings, the Federal Reserve said in June. “Credit standards are tightened so much, home-buyers have turned to the government,” said Michelle Meyer, economist for Barclays Capital. “I think that as the financial markets normalize and credit markets heal, you’ll start to see the share of conventional mortgages increase again.” The Mortgage Banker’s index of applications to purchase a home or refinance a loan rose 11 percent to 493.1 in the week ended July 3. Purchase applications rose 6.7 percent while requests to refinance gained 15 percent. The number of Americans filing claims for unemployment benefits fell last week to the lowest since January, as early automotive plant closures altered the timing of layoffs that typically happen at this time of year. Initial jobless claims fell by 52,000 to 565,000, a lower level than forecast, in the week ended July 4, from a revised 617,000 the prior week, the Labor Department said today in Washington. Meanwhile, the number of people collecting unemployment insurance jumped to a record in the prior week. Manhattan apartment rents fell as much as 18 percent in the second quarter from a year earlier as rising unemployment curbed demand. The median price dropped 3.1 percent to $3,100 a month, appraiser Miller Samuel Inc. and broker Prudential Douglas Elliman Real Estate said today. Studio prices fell 18 percent to $2,000; one-bedrooms declined 13 percent to $2,795; twobedrooms were down 5.1 percent to $4,550 and three-bedrooms dropped 4 percent to $7,673. A separate report from broker Citi-Habitats Inc. showed average rents fell 8 percent for studio and one- bedrooms and 11 percent for two- and three-bedrooms. U.S. wholesale inventories fell again in May as distributors kept working to clear their shelves of excess supply built up by the reduced demand of the recession. Wholesalers lowered inventories 0.8% to a seasonally adjusted $402.2 billion, the Commerce Department said Thursday. April inventories fell 1.3%, revised from an originally reported 1.4% drop. A gauge of excess supply, the inventory-to-sales ratio, fell a second straight month, indicating wholesalers were slowly getting inventories under control. The sales of these middlemen of the economy crept up 0.2% in May to a seasonally adjusted $311.3 billion, after staying flat in April. April sales were originally seen down 0.4%. For the year, sales in May were 19.9% lower. Year over year, inventories were down 7.6%. The nation’s retailers were already reeling from the new consumer frugality but in June, incessant rain and rising unemployment further dampened sales. Stores that had made strides in recent months reverted to double-digit declines. Overall, the industry posted a 6.7 percent decline in sales for the month, in contrast to a 3.9 percent increase a year ago, according to the Goldman Sachs Retail
Composite Index. Wal-Mart, which had been a bright spot in the retailing world and helped lift the overall industry number, is no longer reporting monthly sales. Retailers are also facing challenging year-over-year sales comparisons because this June there were no tax rebate checks to help bolster shopping. The US Treasury on Wednesday pushed ahead with scaled back plans for public- private partnerships to buy toxic assets, naming nine fund managers and allocating $30bn of public funds, but without securing any further backing from the Federal Reserve. Officially, the US central bank is still considering providing additional financing for investors buying bubble-era residential mortgage-backed securities, but its decision not to announce anything on Wednesday strongly suggests that it does not intend to take this step. Government insured home loans jumped to 36 percent of all U.S. mortgage applications in June, the highest since 1990, the Mortgage Bankers Association said. Federal Housing Administration and Veterans Administration loan applications increased in market share from 25.7 percent in May and from 27 percent a year earlier, the Washington-based trade group said today in a statement. Borrowers are turning to government backing to offset stricter lending by banks. About 50 percent of banks tightened requirements for prime borrowers in the first quarter, asking for bigger down payments and more savings, the Federal Reserve said in June. “Credit standards are tightened so much, home-buyers have turned to the government,” said Michelle Meyer, economist for Barclays Capital. “I think that as the financial markets normalize and credit markets heal, you’ll start to see the share of conventional mortgages increase again.” The Mortgage Banker’s index of applications to purchase a home or refinance a loan rose 11 percent to 493.1 in the week ended July 3. Purchase applications rose 6.7 percent while requests to refinance gained 15 percent. In June, the government-insured share of purchase applications climbed to 38.6 percent from 27.8 percent a year earlier, the MBA said. The federally backed share of refinance applications increased to 33.6 percent. It touched a record high 38.4 percent in October, according to the MBA. Home loan rates climbing from a record low 4.78 percent in April are one reason buyers are looking for other ways to reduce costs. The 30-year fixed U.S. mortgage rate was 5.2 percent this week, according to McLean, Virginia-based Freddie Mac. “A primary reason government-insured loans have retained a high share of the purchase market is that these loans typically require lower down payments than conventional loans,” said Orawin Velz, associate vice president of economic forecasting for MBA. “In addition, lending standards tend to be tighter for conventional loans, especially for loans that require private mortgage insurance.” God help Goldman if this is true and the government goes after them. This would constitute massive unlawful activity. Indeed, the allegation is that Goldman alone was given this access! God help our capital markets if this is true and is ignored by our government and regulatory agencies, or generates nothing more than a "handslap." Nobody in their right mind would ever trade on our markets again if this occurred and does not result in severe criminal and civil penalties. There apparently is reason to believe that Sergey might have been involved in exactly this sort of coding implementation. Specifically, look at the patent claims cited
on DailyKos; his expertise was in fact in this general area of knowledge in the telecommunications world. This is precisely the sort of thing that a Unix machine, sitting on a network cable where it can "see" traffic potentially not intended for it, could have an interface put into what is called "promiscuous mode" and SILENTLY sniff that traffic! ASSUMING THE TRAFFIC IS PASSING BY THE MACHINE ON THE WIRE THIS IS TRIVIALLY EASY FOR ANY NETWORK PROGRAMMER OF REASONABLE SKILL TO DO. IF THAT TRAFFIC IS EITHER UNENCRYPTED OR IT IS EASY TO BREAK THE ENCRYPTION. Folks, I have no way to know what the code in question does, but if there's anything to this - anything at all - there is a major, as in biggest scam of the century scandal here - something much, much bigger than Madoff or Stanford. Trade at international ports is on track to drop more than 10% this year, one of the steepest declines ever, according to a new maritime industry report. Cargo ships will carry 27 million fewer containers by year's end than they did in 2008 -- a reduction roughly equivalent to all of the cargo containers handled by the five busiest U.S. seaports in a typical year, according to London-based Drewry Shipping Consultants' Container Forecaster Report. “There has never been a decline like this before. We have never seen numbers like these," said Neil Dekker, editor of the Drewry report. "The container industry is looking at a $20-billion black hole of losses. We can expect a lot of casualties." Nationally, 24% of consumers say the economic conditions in the United States are getting better, down five points from the end of last week. Fifty-two percent (52%) of adults say the economy is getting worse. The Rasmussen Investor Index, which measures the economic confidence of investors on a daily basis, fell to its lowest level in three months. At 70.3, investor confidence is down fourteen points over the past week and fifteen points over the past month. The Rasmussen Reports daily Presidential Tracking Poll for Wednesday shows that 32% of the nation's voters now Strongly Approve of the way that Barack Obama is performing his role as President. Thirty- seven percent (37%) Strongly Disapprove giving Obama a Presidential Approval Index rating of –5. A new Rasmussen Reports national telephone survey shows that 41% would vote for their district’s Republican congressional candidate while 38% would choose the Democratic candidate. A record 33.8 million people received food stamps in April, up 20 percent from a year earlier, as unemployment surged toward a 26-year high. The Bloomberg consensus for AA earnings was -.38. AA reports -.47 but -.26 after adjustments - and everyone says earnings were better than expected?!?!? Hope & hype are eternal on The Street. Average rates for 30-year mortgages fell for the second straight week, but still remained above record lows reached earlier this year, Freddie Mac said yesterday. The average rate for a 30-year fixed home loan was 5.2 percent this week, down from 5.32 percent last week, Freddie Mac said. At this time last year, the average rate for a 30-year fixed mortgage averaged 6.37 percent. Rates on 30-year mortgages fell to a record low of 4.78 percent earlier this year, spurring refinance activity. But rates then rose as high as 5.6 percent in June after yields on long-term government debt, which are closely tied to mortgages rates, climbed as investors
worried that the huge surplus of government debt hitting the market could trigger inflation. Since then, the yield on the 10-year Treasury note has fallen back from an eight-month high of 4.01 percent reached in June to 3.38 percent yesterday. The American Bankers Association reported that the number of home equity loans 30 days or more delinquent rose to a record high of 3.52 percent in the first quarter, Nothaft noted. This week, the average rate on a 15-year fixed-rate mortgage fell to 4.69 percent, down from 4.77 percent last week, according to Freddie Mac. The rates do not include add-on fees known as points. The nationwide fee for 30-year and 15-year fixed rate mortgages averaged 0.7 point. CIT Group Inc. shares tumbled on concern that the Federal Deposit Insurance Corp. won’t give the commercial lender access to its Temporary Liquidity Guarantee Program. The Group of Eight nations approved $20 billion in aid over three years to help poor farmers in developing nations grow and sell more food. The G-8 will work with international organizations such as the World Bank to fund the program, President Barack Obama told reporters on the final day of a G-8 summit in L’Aquila, Italy. The initiative aims to cut the number of malnourished people from about 1 billion today. The G-8 agreed to add $5 billion to an earlier proposal for a $15 billion program, Obama said. The U.S. trade deficit unexpectedly narrowed in May to the lowest level in almost a decade as exports jumped while imports of crude oil and auto parts declined. The gap between imports and exports decreased 9.8 percent to $26 billion, the smallest deficit since November 1999, from a revised $28.8 billion in April that was lower than previously estimated, the Commerce Department said today in Washington. Imports fell while exports rose the most since July 2008. A shrinking deficit signals trade will contribute more to U.S. gross domestic product as exports to emerging economies such as Brazil increase. Meanwhile, U.S. demand for imported auto parts was held down in May by production cutbacks and factory shutdowns by Detroit-based General Motors Corp. and Chrysler LLC, based in Auburn Hills, Michigan, two of the nation’s three largest automakers. “Trade looks like it’s going to be a big plus for second quarter GDP,” said James O’Sullivan, a senior economist at UBS Securities LLC in Stamford, Connecticut. “It looks like the plunge in exports is over, which is of course consistent with the goal of the economy starting to stabilize after a dramatic collapse.” Prices of goods imported into the U.S. rose in June for a fourth straight month as oil costs jumped by the most in a decade. The 3.2 percent gain in the import price index followed a revised 1.4 percent increase the month before that was larger than previously estimated, according to a Labor Department report today in Washington. While prices excluding fuels rose 0.2 percent, they were down a record 6.5 percent from June 2008. [Of course there is no inflation]. President Obama's signing statement, tacked onto last month's war supplemental bill, claimed he could ignore Congress's mandate to pressure the World Bank on labor and environmental standards. Consumer confidence levels dropped hard in the middle of July. Released Friday, the Reuters/University of Michigan preliminary July consumer sentiment index moved to 64.6, from 70.8 in June. It had been expected to stand at 70.0. The preliminary current conditions index was 70.4, from 73.2, while the expectations index was 60.9, from the prior month's 69.2.
On the price pressure front, the one year inflation reading was 3.0%, from June's 3.1%, while the five year inflation reading was 3.1%, from 3.0% The Federal Reserve's latest weekly money supply report Thursday shows seasonally adjusted M1 fell by $16.2 billion to $1.653 trillion, while M2 fell $36.2 billion to $8.349 trillion. The figures are preliminary estimates for the week extending through June 29 and are subject to revisions. More details on the report, along with weekly information on the Fed's custody holdings, repurchase agreements, Treasury portfolio and free reserves, can be found on the Internet at http://www.federalreserve.gov/releases/. The U.S. trade gap narrowed unexpectedly to $26 billion in May, the smallest since November 1999, as exports rose and domestic demand for foreign goods slumped, government data on Friday showed. The Commerce Department said exports increased 1.6 percent in May, while imports declined by 0.6 percent. Economists said the drop in imports signaled continued weakness in the recession-mired U.S. economy. Zero Hedge (May 5, 2009): Previously Zero Hedge observed the rather curious integration of Goldman Sachs within the fabric of the NYSE's program trading environment, which, by their own admission, has everything to do with Goldman being the (monopoly) actor in the NYSE's Supplemental Liquidity 2 Provider program. I highlighted that the program was set to expire on April 30. Today, unsurprisingly, the NYSE posted a notice of a proposed rule change extending the SLP program another six months, until October 1, 2009 (this does not change my commitment to providing weekly NYSE program data). I appreciate our readers' existing and future feedback in this matter. The full text of the comments by Jeffrey S. Davis of the NASDAQ Stock Market LLC is presented below, but here are some very relevant snippets. NYSE fails to explain why proprietary liquidity is more valuable than agency liquidity, or why proprietary liquidity should be favored over agency liquidity. NYSE claims that the proposal is designed to prompt liquidity provision but it simultaneously disqualifies large liquidity providers. In NASDAQ's view, these irregularities reveal that NYSE's true motivation for the SLP Proposals is to discriminate among its members and to burden some members' ability to compete with NYSE. And who is the one and only beneficiary of this rampant disregard for almost 80 years of market regulatory practice? Who is it that has now become the de facto provider of "market liquidity" which however has much more sinister connotations when reading through the comments of not just some blogger but the NASDAQ Stock Market itself? http://zerohedge.blogspot.com/2009/05/more-observations-onsupplemental.html When a firm has an 87.5% trading accuracy record, something unnatural is occurring. And we wonder why the buy side has been so docile and malleable when the money is being derived from them! Over the past decade the move to electronic trading and pricing in pennies was heralded by Street insiders as a means to improve liquidity for clients. This appears to be a deception. Virtually every facility benefitted proprietary trading at a select few firms. Who’s the patsy? Anyone with a modicum of industry experience understands that ‘providing liquidity’ is at best a euphemism for front-running order flow. Anyone that regularly ‘provides liquidity’ will go broke.
GS jumped yesterday on this: (BN) Goldman Sachs Trading Revenue May Beat 2007 Record, Moszkowski Note Says Goldman Sachs Group Inc. is on track to beat its 2007 trading-revenue record, enabling it to boost compensation by an estimated 64 percent from last year, according to Bank of America Corp. analyst Guy Moszkowski. Goldman Sachs has ``unmatched risk-taking/risk-management skills in a market that strongly rewards these because of decline in competitor risk appetite,''…Six months ago, Goldman Sachs was supported by $10 billion from the U.S. Treasury and relied on government guarantees to issue debt. Moszkowski predicts the company will reap $26.45 billion from trading this year, a gain from $25.36 billion in 2007 when the firm shattered Wall Street profit records. Remember this BN story from May? Goldman Sachs’s $100 Million Trading Days Hit Record Goldman Sachs Group Inc. reaped more than $100 million in trading revenue on a record 34 separate days during the first three months of 2009, up from the previous peak of 28 in last year’s first quarter. The first-quarter number was almost double the total for all of 2005. Zero Hedge: Citadel Joins the Program Trading Industrial Espionage Fray, Sues Malyshev And Teza The gloves are now completely off in the escalating program trading fiasco that was started by Goldman's former Sergey Aleynikov. Oddly, while Zero Hedge was fully expecting the Teza injunction to come from Goldman, it seems Griffin was more than happy to burden himself with that task. Hopefully Citadel is not faced with a case of reverse discovery and forced to document the 40% returns that it generated compliments of Malyshev when all its other groups on average lost around 50% in 2008. http://zerohedge.blogspot.com/ Citadel Investment Group LLC, the $12 billion hedge fund firm founded by Ken Griffin, sued three former executives and the firm they founded, Teza Technologies LLC, claiming violation of noncompetition agreements. Teza described itself in a July 6 e-mail as a “formative” firm that is neither trading nor investing. Named after a river in western Russia, the Chicago-based firm was co-founded by Misha Malyshev, Jace Kohlmeier and Matt Hinerfeld. All were named in the complaint… Malyshev worked at Citadel for almost six years and until February was its head of high-frequency trading. He was on the team that ran a $1.8 billion tactical trading fund that uses computer model to make trades every few seconds. The fund climbed 40 percent last year, while its main funds tumbled 55 percent. American International Group is preparing to pay millions of dollars in bonuses this month to several dozen top corporate executives after an earlier round of payments four months ago set off a national furor. [Revolucion!] China has launched its highest-profile criticism of the dominant role of the US dollar as a global reserve currency at a meeting of the world’s biggest economies. Dai Bingguo, Chinese state councillor, raised the issue on Thursday when he joined the leaders of four other emerging economies for talks with the leaders of the Group of Eight industrialized nations The Treasury Department apparently made a change in early June in the way how they compute indirect bids. No one seems to have a definite answer as to what changed, but Indirect Bidder percentage in Treasury Auctions in June has been significantly higher in most cases, prompting the speculation by the traders of manipulation or massaging of the numbers so that the market sees high indirect bids (considered to be the proxy for foreign interest in Treasuries).
Top officials in China and Russia have expressed unease about the growing U.S. budget deficit, slated for a record $1.75 trillion in fiscal 2009 alone. This means that traders pay extra close attention to foreign demand figures. The Treasury's changes, contained in a June 1 entry to the Federal Register, relate to what it considers a "guaranteed bid." Under the previous arrangement, once a primary dealer offered securities at a prespecified level to its customer, that bid was considered to be the dealer's own. "We are not precisely sure what this all means," said Ward McCarthy, managing director at Stone & McCarthy Research Associates in Princeton, New Jersey. "We spoke with some very seasoned market players with decades of experience on dealer trading floors who were similarly unsure what to make of the contents of the Federal Register." To no one’s surprise Fed insiders are protesting that a Congressional audit of its operations will compromise its independence. Only the most gullible or ignorant believe the Fed has independence. And once again we must warn that Americans are exhausting their unemployment benefits at a record rate (49.17% as of 5/31). And when one draws ‘extended benefits’ they drop off the jobless claims roles. Rasmussen: Just 27% Favor Second Stimulus Plan This Year, 60% Oppose. It’s not just economic and financial data that is purposely corrupted to depict a better than reality picture. The LA Times: LAPD's public database omits nearly 40% of this year's crimes. http://www.latimes.com/news/local/la-me-lapd-crimemap9-2009jul09,0,909582.story Up To 10,000 Illinois Prisoners May Be Released; Gov. Pat Quinn: Release Of Inmates Could Save Taxpayers $125 Million. In the realm of electronic trading, systems are being fed into prop desks so traders can see all real money flows into and out of stocks and groups. Recent revelations at Goldman Sachs show there is major automated frontrunning going on. The sources for this illegal activity finding orders loaded into the system and trading against them; and discovering and then front-running electronic orders by a penny or more by exploding the lag in execution. Firms grabbing pennies are making billions of dollars a day. The Street has been and is furious that the media regulators and our duly elected are not even discussing what could be the second biggest scam and abuse of our times. The biggest is the suppression of gold and silver prices. Worse yet, few people realize that exchanges actually pay firms to trade against order flow when they act as a “supplementary Liquidity Provider.” Exchanges pay firms ¼ of a penny if they provide liquidity when an order appears in the system. This is extra incentive to front-run order flows. Can you imagine that this is a policy of the NYSE led by the pirates of Goldman Sachs? The Treasury is supposedly putting the clamps on derivatives yes, and we have a bridge for sale. The CFTC says it will move aggressively to rein in excessive speculation in energy and metals. Let’s see if they force the banks to cover some of naked shorts in gold and silver. This is a major development because of the concentrated positions of JPM, HSBC and Goldman in gold and silver. We could finally get a break – let’s see what happens. It could also be that the Comex gold and silver inventories are a scam and something has to be done about it now.
In the FDIC Friday Night Financial Follies: Bank of Wyoming, with $70 million of assets and $67 million of deposits, was closed by the state’s Department of Audit, Division of Banking and the Federal Deposit Insurance Corp. was named receiver, the FDIC said today in a statement. Central Bank & Trust in Lander, Wyoming, will assume the deposits and the failed bank’s only office. AIG has been talking with the Obama administration's compensation czar, Kenneth Feinberg, about paying out about $235 million in bonuses, which are due to be paid on July 15 to about 400 employees in that group, according to published reports. The Washington Post first reported the story this morning. AIG does not actually need Feinberg's approval to pay out the bonuses -- he has to review only payments that were contracted beginning in 2009 -- but AIG wants him to review the bonuses so as to avoid the public uproar that took place in March when AIG paid out $135 million in bonuses to employees of its financial products division. The $235 million in bonuses was contracted in 2008. A firestorm of criticism surrounded AIG after it disclosed the March bonuses, causing some employees to return chunks of their payouts, with several resigning. AIG lost $99 billion last year, most of which came from derivatives written by that unit. The Treasury is supposedly putting the clamps on derivatives yes, and we have a bridge for sale. The CFTC says it will move aggressively to rein in excessive speculation in energy and metals. Let’s see if they force the banks to cover some of naked shorts in gold and silver. This is a major development because of the concentrated positions of JPM, HSBC and Goldman in gold and silver. We could finally get a break – let’s see what happens. It could also be that the Comex gold and silver inventories are a scam and something has to be done about it now. ***** STOP THE PASS ACT S.1261 REAL ID ACTION ALERT: The Senate Committee on Homeland Security and Governmental Affairs will be having hearings on the PASS Act S. 1261. The PASS Act WILL NOT REPEAL REAL ID as it is being billed. It will only repeal certain portions like Title ii and in the end be worse than REAL ID once the PASS Act is inserted. REAL ID will REMAIN Federal law and will be stronger than before if passed. Both the ACLU and the ACLJ are opposing the Real ID Act and the PASS Act. (The ACLU and the ACLJ are the most prominent legal organizations on the "left" and "right" respectively.) Special interests groups are trying to force Democrats, Independents and Republicans to support this legislation. States have been and are working to ensure driver's licenses are secure documents and have document integrity. The federal government, in spite of the states, wants to set international standards that are not needed. The federal government wants control of your state driver's license. The federal government is bribing states to go along with its plans. Our freedom and our rights are not for sale. Some governors want to take the bribe money. The First, Fourth and Tenth Amendments are under attack. The Second Amendment will follow. This is not a partisan issue. All Americans must take action now.
The PASS Act does not repeal the Real ID Act. It does repeal provisions of the Real ID Act; those provisions that are included in Title II of the Real ID Act 2005. The Real ID Act is still intact and is federal law. The PASS Act contains many of the most egregious aspects of the Real ID Act; including the requirement for a digital facial image/photograph that will be mandated to be internationally facial recognition compatible. There is not a federal law that prohibits the simultaneous use of CCTV/surveillance cameras and facial recognition technology in real time. The PASS Act will do nothing to provide a higher level of National security. Under the provisions of the PASS Act the documents used to obtain a driver's license are not authenticated. These documents are called "breeder" documents. Although requirements for new databases and the linking of databases are not part of the PASS Act the fact remains through aamva.net and NLETS states can still have information contained in their state Department of Motor Vehicles made available to both federal and international law enforcement agencies without a court order. Two international agencies (AAMVA and the ICAO, an agency of the United Nations) were involved in U.S. policy and law - the Real ID Act 2005 and the newly proposed PASS Act. DHS has called AAMVA the "hub" and "backbone" of the Real ID Act. On AAMVA's own web-site it proclaims it is an international organization that serves law enforcement and motor vehicle administrators. Both the Real ID Act and the PASS Act result in Americans being enrolled into a single global biometric identification system that links a person's body to their ability to buy and sell.
The Senate Committee on Homeland Security and Governmental Affairs will be considering the legislation very soon. The committee members and their phone numbers are listed below. Ask your neighbors, friends, co-workers, relatives and everyone else you have contact with to make the calls as well. 16 CALLS, 16 MINUTES, FOR YOUR FREEDOM AND FUTURE GENERATIONS FREEDOM. Senator Bennet Senator Lieberman 202-224-5852 202-224-4041 Chairman Senator Burris 202-224-2854 Senator Collins 202-224-2523 Senator Carper Senator Akaka 202-224-2441 202-224-6361 Senator Coburn 14
202-224-5754 Senator Ensign 202-224-6244 Senator Graham 202-224-5972 Senator Landrieu 202-224-5824 Senator Levin 202-224-6221
Senator McCain 202-224-2235 Senator McCaskill 202-224-6154 Senator Pryor 202-224-2354 Senator Tester 202-224-2644 Senator Voinovich 202-224-3353
FOR MORE ON REAL ID, THE PASS ACT, BIOMETRICS, & INTERNATIONAL LAWS/REGS AND DATABASES GO TO www.stoprealidcoalition.com <http://www.stoprealidcoalition.com/> they have an action packet as well as several other pieces of information you can review. ***** [It was 14-months ago that we received over 100 complaints regarding Pat Kiley’s operation, which led to those investors terminating their investment with Mr. Kiley’s company. We expressed our misgivings about the veracity of his investments. It looks like our worst suspicions maybe affirmed. Thank goodness we saved all those people a lot of grief. This revelation could lead to prison, but it won’t get the investors who stayed or wouldn’t listen their money back.] Twin Cities advisers accused of fraud, mismanagement http://www.startribune.com/business/50309367.html?page=1&c=y ***** [This is a fantastic article, describing how every bank account holder is getting screwed by the banks.] Banks' 'courtesy' loans at soaring rates irk consumers http://www.usatoday.com/money/perfi/credit/2009-07-08-banks-overdraft-fees_N.htm ***** Breaking: FBI Arrest Opens Goldman-Sachs' Pandora's Box http://www.dailykos.com/story/2009/7/6/750420/-Breaking:-FBI-Arrest-OpensGoldman-Sachs-Pandoras-Box ***** **FLASH** Goldman Code Theft BOMBSHELL? http://market-ticker.denninger.net/archives/1192-FLASH-Goldman-Code-TheftBOMBSHELL.html ***** INFLUENCE IS ALL IN THE BAG FOR 'GOVERNMENT SACHS'
http://www.nypost.com/seven/07092009/business/influence_is_all_in_the_bag_f or_governme_178298.htm ***** Goldman Sachs Loses Grip on Its Doomsday Machine: Jonathan Weil http://www.bloomberg.com/apps/news?pid=20601039&sid=aFeyqdzYcizc& ***** In-Depth Look - Stealing Secrets from Goldman Sachs - Bloomberg http://www.youtube.com/watch?v=lrlQSMCxaE&eurl=http%3A%2F%2Fzerohedge%2Eblogspot%2Ecom%2F&feature=player_emb edded
House Overwhelmingly Rejects Signing Statement by: Walter Alarkon http://www.truthout.org/071009C?n Part 1: 07/08/09 Freedom Watch 22 w/ Ron Paul, Jim DeMint, Rand Paul, more http://www.youtube.com/watch?v=Cnx6a5mlM9M#t=4m21s ***** Craig Roberts, Former Assistant Treasury Secretary has interesting comments on the bailouts… Mish http://www.24hgold.com/english/news-gold-silver-craig-roberts-formerassistant-treasury-secretary-has-interesting-comments-on-the-bailouts.aspx?article=2181427090G10020&redirect=false&contributor=Mish ***** Kohn warns Congress on meddling in Fed's affairs http://www.reuters.com/article/companyNewsAndPR/idUSN0945907120090709 ***** Two Authorities on Fed Advise Congress Against Expanding Its Power http://www.nytimes.com/2009/07/10/business/economy/10fed.html?_r=2&ref=business ***** Home Sellers in U.S. Cut Prices by $27 Billion, Trulia Says http://www.bloomberg.com/apps/news?pid=20601103&sid=agq0NRuqLW38 By Daniel Taub ***** Has Capitalism Failed? By Ron Paul http://www.24hgold.com/english/news-gold-silver-has-capitalism-failed.aspx?article=1199920708G10020&redirect=false&contributor=Ron+Paul ***** Dear Bob, Eliminate the evidence, cover your tracks! First the M3, then the creative accounting shift to 'mark to model' to help zombie banks be less stressed and now the decommissioned DPTR so we can all stay uninformed about daily trading activity. Goldman has to love this! 16
http://apps.nyse.com/commdata/PubInfoMemos.nsf/AllPublishedInfoMemosNyseCom/ 85256FCB005E19E8852575DF006D4F66/ What's next, shut off all communications and use pony express? Just waiting to see how far they can push - certainly the next stimulus request should be welcome with open arms? In California, home of the Terminator [what a great name] Best regards, ***** Schumer: Immigration Bill to Be Ready by Labor Day http://www.truthout.org/070909E?n ***** Bill Gives Attorney General Power To Designate Gun Owners, Tax Protesters As Terrorists Amendments to H.R. 2647 empower Holder to demonize law-abiding American citizens as “extremists” under definitions already established by Homeland Security http://www.prisonplanet.com/bill-giv...errorists.html <http://www.prisonplanet.com/billgiv...errorists.html> Paul Joseph Watson Prison Planet.com Monday, July 6, 2009 Amendments to the 2010 National Defense Authorization Act, which has already been passed by the House, would empower the Attorney General Eric Holder to define gun owners, anti-abortion activists and tax protesters as domestic terrorists in light of recent federal reports that classify millions of Americans as “extremists”. Former impeached Florida judge and now Democratic Congressman Alcee Hastings has introduced amendments to H.R. 2647: National Defense Authorization Act for Fiscal Year 2010, which would give Holder dictator powers to demonize legitimate protest groups as being affiliated with violent race hate organizations. The bill is ostensibly aimed at preventing race “extremists” and gang members from joining the Army, but since the Army already hires felons, criminals, racists and gang members, the real purpose behind the legislation is to codify the move to label gun owners, “anti-government” activists and tax protesters as domestic terrorists, a process that has been ongoing since at least the start of the decade. The bill’s definition of “people associated or affiliated with hate groups” include, “Groups or organizations that espouse an intention or expectation of armed revolutionary activity against the United States Government,” or “Other groups or organizations that are determined by the Attorney General to be of a violent, extremist nature.” The evidence required to show that such an organization is affiliated with a violent hate group includes people possessing tattoos identifying them with the group, individuals who attend conferences or rallies sponsored by a “hate group,” people who engage in
online discussion forums of an “extremist” nature, people who possess documents, books or photographs or simply “related materials as defined by the Attorney General” that represent “hate propaganda.” The amendments introduced by Hastings were passed by the House and the bill now moves on to the Senate for approval before it is signed by the President. ***** Why Banks Prefer Foreclosures over Mortgage Modifications http://seekingalpha.com/article/147570-why-banks-prefer-foreclosures-over-mortgagemodifications?source=email ***** Judge asks if US govt would shut UBS in tax fight http://in.reuters.com/article/fundsNews/idINL849735520090708?sp=true ***** China demands currency reform, France backs debate http://www.reuters.com/article/asianCurrencyNews/idUSPEK20673520090709 ***** HR 2749: A Stealth Agribusiness Empowering Act by Stephen Lendman http://sjlendman.blogspot.com/ ***** From a Fellow Subscriber: Hi, Bob: Check this out. seized bonds probably genuine <http://www.asianews.it/index.php?l=en&art=15648&geo=&theme=&a mp;size=A> http://www.asianews.it/index.php?l=en&art=15648&geo=&theme=&size=A The other big story is the apparently irretrievable loss of Goldman Sachs' trading software. I wonder how they found out it had been stolen. Perhaps they noticed someone front running their trades? Were I really cynical, I'd say that the situation now calls for a catastrophe to hit Wall Street, as camouflage for the collapse of Goldman Sachs and other large financial institutions it is connected to. Meanwhile, NASA apparently intends to bomb the Moon, supposedly to find out whether there is any water there. This not only violates a treaty, it is sure to annoy the ETs who have a base there. Perhaps NASA is seeking to gin up a war in which it can be on the front lines. Warm regards, ***** From a Fellow Subscriber: http://ia301538.us.archive.org/1/items/MaxKeiserRadio-TheTruthAboutMarkets08July2009/tamnz-080709-full.mp3
About an inch in is Keiser's analysis today of the "micro seconds programmed trading scams front running all trades by monopolistic cartel player that is plugged into govt., playing for themselves that killed Capitalism". He says it in ways entertaining and easy to understand. ***** From a Fellow Subscriber: Help stop the Cap & Trade bill that will cost all Americans dearly in lost jobs and huge expense by reading and signing the following petition to your Senators before they vote... http://www.campaignforliberty.com/campaigns/hr2454petition.php There is more and more evidence that the Earth is beginning a cooling trend and global warming caused by man's activities is a fallacy. American industry has nearly been completely off-shored to other countries and this bill will finish the job if passed. You can do something today to help save America and stop the trend of centralized global government. ***** From a Fellow Subscriber: I heard Obama say in reverse speech "He will seal his house up"; in forward speech Obama said US and Russia agree to joint missile defense. Good insight --to me it means Russia is going to secure its borders and Obama was told in no uncertain terms Russia will not allow US missiles in Georgia, etc. The openly declared oil price manipulation probably is in retaliation against Russia for its stance. Medev is how Obama first pronounced then corrected himself Medvedev--his highness Obama's magical charm was nothing to Medvedev, petty Obama's little swipe--big swipe drive down oil but the enemies of America are uniting through SCO--India recently you know threw its hat in with China and Russia on need for change in world's reserve currency. In spring or summer of 2007 I heard Bernanke say in reverse speech "if the economy is still alive". Reverse speech does give insight. ***** From a Fellow Subscriber: Hi Bob, hope your doing o.k. and applaud your continued efforts. Thought you may be interested to hear final outcome of my refi which began in March. After bumbling mistakes, I obtained my refi money. Shortly thereafter I received a letter from Fannie Mae stating that they owned the loan and BOA would handle it on their behalf. It struck me that the gov't is in the process of owning all homes which have a mortgage. When the entire economy collapses they can redistribute the gigantic home ownership as they see fit. God Bless you and your work. ***** From a Fellow Subscriber: Hi Bob: This story may not seem like much but this story scares the S%@@ out of me. It looks as though they are ramping up the training of local police along side federal police BIG TIME!!! It seems to me they are getting the Local police used to being "federalized".
This statement stands the hair up on my neck. "Operation FALCON, which stands for Federal and Local Cops Organizing Nationally" . That says it all !!! If that is not Orwellian I don't know what is. We are in for BIG TROUBLE my friends, and the sheeple don't even connect the dots. 35,000 arrests nationwide !!!!! Yikes, and this is just with the us marshals, what if they used the FBI, the National Guard, FEMA police and the troops stationed here with NorthCom along with all the local police, State troopers, and Sheriffs nationwide. If they were to use all these resources at once they could round up millions upon millions in a day !!!! EASY !!! All you local police, state troopers, sheriffs , national guard and Military that get this letter PLEASE SPREAD THIS NEWS , and inform all within your command what is going on in front of your noses. Please help stop the insanity. DO NOT GO ALONG WITH THE NEW WORLD ORDERS PLAN!!! STAND UP AGAINST THIS TYRANNY PLEASE !!!!THANK YOU.May God help us all !!! http://www.mercurynews.com/ci_12800491 U.S. Marshals operation nets more than
The U.S. Marshals Service has arrested more than 35,000 fugitives, including in the Bay Area, in a month long operation that involved cooperation by federal, state and local law enforcement agencies. Operation FALCON, which stands for Federal and Local Cops Organizing Nationally, arrested 35,190 fugitives nationwide between June 1 and June 30, according to Chief Deputy U.S. Marshal Tommy Thompson, who was the commander of the operation. In the Northern District of California, which includes the nine Bay Area counties along with Monterey, Santa Cruz, San Benito, Mendocino, Lake, Humboldt, and Del Norte counties, law enforcement agencies arrested 106 fugitives on 121 warrants, Thompson said. ***** From a Fellow Subscriber: I had a hard time keeping a straight face after reading this piece. The people in LA out to be out there with pitchforks, hunting down the politicians that put their stamp of approval on THIS debacle. What's wrong with that Jackson family paying for this? It, after all, was their damn circus. There appears to be plenty of money in that estate; easily there is 1.4 million. Send these freaks the bill!!! Margo http://new.music.yahoo.com/michael-jackson/news/michael-jackson-memorial-cost-la1-4-million--61991315 ***** Mr. Chapman, I am the former Marine here in the big apple. My former c.o. asked me to send this on to you per your request on his show tonight. Thank you sir for getting the word out to all the jarheads, there are 45 of us here at our VFW listing intently; we feel Drew will lead us when the rubber hits the road. We may not reply or sound off to often, especially those of us on active duty or active reserves but rest assured Sir, you are well respected, and you have no better man promoting you in our ranks. God Bless.
Semper Fidelis WABC radio reports S.E.C predicts that there are more arrest coming soon. The Link: http://www.ft.com/cms/s/ffee34b8-6be7-11de-932000144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fc ms%2Fs%2F0%2Fffee34b8-6be7-11de-9320-00144feabdc0.html&_i_referer= <http://www.ft.com/cms/s/ffee34b8-6be7-11de-932000144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fc ms%2Fs%2F0%2Fffee34b8-6be7-11de-9320-00144feabdc0.html&_i_referer=> ***** Arkansas State Health Department: Mandatory Vaccines Are Constitutional http://www.prisonplanet.com/arkansas-state-health-department-mandatory-vaccinesare-constitutional.html ***** BORN IN THE USA? News sites swap Obama's birthplace like magic UPI, Snopes change location within hours of WND report http://www.wnd.com/index.php?fa=PAGE.view&pageId=103465 ***** Six Syllables to a Savage Truth, by Stewart Dougherty
On December 9, 2008, $65 billion of investor money was at peace. On the fear / greed seesaw that is said to characterize investor emotion, fear was down on the ground, while greed was high in the sky, having all the fun. Greed was earning a steady 1% per month, making fear look like an over-cautious fool. On December 10, 2008, six simple syllables transformed that greed into lead, sending it crashing to earth while launching fear to the moon. The syllables were these: "It's all just one big lie," and they were spoken by Bernard Madoff, in an admission that his investment fund was nothing but an illusion and a fraud. They represented a savage truth that would wipe out the savings of thousands, and toll the bell for the rest of the world's investing public. Those six syllables possessed powers far beyond their size. They forced $65,000,000,000.00 to vanish back into the thin air from which they had materialized. Thin air has been busy these days, as you will see. The fact that a mere six syllables could cause a multi-year, $65,000,000,000.00 fraud to implode is testament to the truth's simplicity and power. The truth represents intellectual gravity, and sooner or later, all things fall into its arms, whether they want to or not. The truth does not need phalanxes of lobbyists, czars, public relations personnel, pundits, pontificators, propagandists, pollsters, or politicians to express itself. Rather, it represents magnetic north, toward which the human consciousness is naturally inclined. In the beginning of the revelation of a truth, only those with courage can see it; in the end, it is clear to everyone. [Reader's note: In this article, we will express numbers in digits. The government, financial "services" industry, and television talking heads, to name a few, are currently bombarding society with the terms "billions" and "trillions." The constant repetition of these terms has given people a false sense of familiarity with them, and made them appear "normal" and "everyday." These colossal sums are anything but normal and everyday. They are monsters that are tearing apart our fiscal, financial and monetary systems. Those who casually throw around a
trillion here and trillion there, such as the steady parade of CNBC commentators, try to act as if they understand the magnitude and implications of these sums, but they don't, because the sums are incomprehensible and their systemic consequences are totally unknowable and unpredictable. This is patently obvious given the extreme financial crisis afflicting our nation and the world. Also, only "two" of something, such as trillions, doesn't seem like very much to most, whereas the written expression of that same number, in this case $2,000,000,000,000.00, does.] Compared to current fiscal, monetary, economic and financial reality in the United States, Madoff's losses were modest, and even quaint. The USA's fiscal year 2009 federal loss ("deficit") will exceed $2,000,000,000,000.00, more than 30 times Madoff's $65,000,000,000.00 loss. (Keep in mind that it took Madoff a professional lifetime to lose that money; the United States will lose $2 trillion in just one year, and according to official budget projections will continue losing hundreds of billions more, annually, for decades to come. (More on this in a minute.)) The cost of the government's financial-crisis-related bailouts and guarantees currently exceeds $13,500,000,000000.00, which is 200 times larger than the Madoff scandal. And the nation's unfunded contingent liabilities, for programs such as Social Security, Medicare, Medicaid, government pensions and the like stand at $75,000,000,000,000.00, 1,150 times larger than Madoff's fraud. They should let Madoff out of jail and put him in charge of the Treasury. Maybe America would get some relief. Of course, these numbers make laughable the government's righteous indignation and shocked disbelief that a "Ponzi scheme!" as "large" as Madoff's could have operated in the United States. The government's response is a textbook example of the intelligence industry's attention-diverting technique known as misdirection. In June, 2009, the Congressional Budget Office, a government entity, issued its "Long Term Budget Outlook" for the period 2010 through 2080. The executive summary begins with these words: "Under current law, the federal budget is on an unsustainable path -- meaning that federal debt will continue to grow much faster than the economy over the long run." While that statement might seem stark, it is the verbal equivalent of morphine compared with the actual numbers in the CBO's long term budget projection, which are nothing short of terrifying. According to the CBO, over the next SEVENTY fiscal years, the federal government will NEVER have a surplus. Rather, the United States will continue to suffer massive, escalating, multi-hundred billion dollar losses (deficits) each and every year for the next SEVEN DECADES, which is when the budget projection stops. Under both CBO budget scenarios (catastrophic and worse-than-catastrophic), losses in fiscal year 2080 will be the largest of the entire 70 year series, meaning that the budget crisis will continue well beyond 2080. In the best case, the 2080 loss will be 17.8% of GDP; in the worst case, it will be 42.8% of GDP. To put this in context, the 2009 federal budget loss is projected to be 11.9%, in this, the worst financial crisis in American history. So 2080 will be 50 - 300% worse than now. Who the CBO thinks will fund these trillions of dollars' worth of forever losses, they do not say. Apparently, America is headed back to the Stone Age, thanks to our profligate politicians and corrupt financial elite.) The United States has already reached the point where it is arithmetically impossible for it to pay its debts or keep its promises, unless it devalues its currency to the point where it impoverishes its citizens and creates international financial chaos. And even devaluation as a means of ending the country's budget nightmare will be difficult, given that so many government programs have cost of living escalators, making inflation a No Exit horror story. This is not subjective opinion, but rather objective, arithmetic fact, now supported even by
government agencies themselves, such as the Congressional Budget Office. As John Williams of shadowstats.com has observed, even if personal incomes were taxed at 100%, the United States still could not pay its bills. Astonishingly, given this fiscal context, the government now proposes to effectively nationalize the nation's health care industry, with projected additional losses (deficits) of $1,000,000,000,000.00, a number we can be 100% certain will prove to have been grossly understated. Additionally, it has created $13,500,000,000,000.00+, so far, to bail out Wall Street, at the direct expense of America's citizens, adding to the nation's debt misery and hopelessness. (All the while, government has looked on with apparent admiration, envy and awe as Goldman Sachs announced that despite America's financial catastrophe and despite the fact that it gorged earlier this year at the feed trough of taxpayer bailout money, they will reward their staff with record bonuses in 2009, totalling some $20,000,000,000.00. They are taking the taxes paid by everyday people such as nurses, teachers, auto workers and fast food clerks, and stuffing their pockets with it. Of course, that is just the tip of the iceberg. The rest of Wall Street will lavish itself with taxpayer-funded bonuses, too.) Even more astonishingly, on June 26, 2009, in the midst of America's employment and economic meltdown, Congress approved $108,000,000,000.00 in loan-guarantee funding for the International Monetary Fund (IMF), so the IMF can provide financial assistance to "poorer nations." No citizens on earth are as indebted as Americans, given the nation's $11,500,000,000,000.00 federal debt, and more than $85,000,000,000,000.00 of combined federal debt and unfunded contingent liabilities. So how the world's most indebted nation proposes to provide assistance to "poorer" nations is a fiscal mystery, the solution to which is known only to the spendthrifts in Washington. Unless, of course, the money is slated to return to the United States as "foreign aid," but that is not the plan. What arrogance, callousness and conceit on the part of our government, to strap this added tax burden onto the backs of American citizens, who are already the most debt-enslaved people in the world. The IMF funding is in ADDITION to the government's June 26, 2009 $106,000,000,000.00 supplemental war appropriations bill, which was supposedly meant to pay for continuing military operations in Iraq and Afghanistan, but which includes U.S. taxpayer gifts of $660,000,000.00 for Gaza, $555,000,000.00 for Israel, $310,000,000.00 for Egypt, $300,000,000.00 for Jordan, $420,000,000.00 for Mexico, and $889,000,000.00 for the United Nations, for so-called "peacekeeping" missions. War is peace. Orwell must be laughing himself sick, six feet under. Congress is in such massive denial about the fiscal and financial crisis they have already created that their spending orgy continues without restraint. In fact, the out-of-control spending is now so outrageous that one can seriously argue that Congress, the Treasury and the Fed are deliberately trying to destroy the United States. Bob Chapman (www.theinternationalforecaster.com), a brilliant analyst and publisher of one of best newsletters in the world, has long argued that what is happening is part of a systematic plan to bring this country to its knees so a one-world government-for-profit, owned and operated by global power brokers, can be implemented. His ideas deserve deep and thoughtful consideration, because his track record thus far has been nearly perfect. The fact is that the United States is suffocating in what has become an airless House of Lies. Social Security is a promise that cannot be kept with anything even remotely resembling America's current "money," and is therefore a lie. Medicare and Medicaid are promises that cannot be kept, and are also lies. SSI benefits cannot be paid into the future, and are lies. The federal debt cannot be paid, and is a lie. Government pensions cannot be paid, and are lies. The prescription drug program is unaffordable, and is a lie. Food stamps and other forms of welfare are unaffordable, and are lies. And the list goes on and on.
Arnold Toynbee wrote, "An autopsy of history would show that all great nations commit suicide." This is exactly what we are witnessing today in the United States: fiscal and economic suicide. As America's "leadership" injects financial poison into the country's veins, the citizens stand by and watch, having not a clue about what to do to stop the destruction. Today's unavoidable reality is that tens of millions of American citizens are going to die financially before they die physically, thanks to government losses and crony payoffs that enrich and empower a small, shameless, greed-stricken minority at the expense of the entire nation. (The latter point is amply demonstrated by Washington racing to Wall Street's defense in the recent bailout with trillions of taxpayer dollars handed over to centimillionaires, while for the past 20 years, it stood by and did nothing as the lives of millions of American workers were turned upside down when they lost jobs that migrated overseas thanks to state-sponsored globalization, another moronic market intervention.) Despite the CBO's calm outline of the next seven decades' worth of ceaseless, staggering American operating losses, plus surging debt, we are fast approaching endgame. One of the greatest prize fights in all of history is about to begin. In one corner of the ring will be a scrawny, sick-looking contender called The Lie, coached by Wall Street and Washington, D.C. In the other corner will be a 250 pound, aerobically perfect, experienced fighter called The Truth, coached by the collective wisdom, experience and technique of Time. Once the fight starts, it will be over in a second. The same way Madoff's fund was knocked out with one punch, once he put his Lie into the ring with The Truth. Speaking once again of Madoff, as a citizen, you must ask yourself this: what if an official at the Federal Reserve or the Department of the Treasury wakes up one morning, seized by his or her conscience? What if this official cannot continue to lie about America's finances? What if, in a moment of personal honesty and catharsis, that official repeats in public, say, at a Congressional hearing, those six simple syllables spoken by Madoff? What if someone in authority admits, "It's all just one big lie"? What would happen to the bond market? The stock market? The financial system? Your local bank? The Federal Reserve Note? It seems logical that all of these would all suffer, probably mightily. And the prices of gold and silver? Wouldn't they go up, potentially by an order of magnitude, as millions scrambled for financial sanctuary? The financial laws of gravity are exactly that: laws. The narcotics of hope and denial cannot repeal them, just as they cannot make a butterfly turn into a 747, convert lead into gold, make America's debt disappear, or transform Bernanke into a mangod who can make the consequences of gross fiscal and economic dereliction go away, just because he says so. The financial laws of gravity say that it is impossible to indebt a society into prosperity, or moneyprint everyone rich. In fact, reality says the exact opposite: endless debt and money creation impoverish and enslave a people, while enriching to a grotesque degree a relatively few opportunistic, immoral, greedy, insider manipulators, just as we have seen and continue to see. If government were genuinely trying to fix this mess, then perhaps we could have some hope, even though we are already beyond the fiscal point of no return. But recent actions, such as the June, 2009 $108,000,000,000.00 ($108 BILLION) added funding for the IMF, and the proposed nationalization of health care, to cite just two relatively minor examples, demonstrate that Washington is, at best, incapable of recognizing the seriousness of the country's circumstances, or, at worst, is spending us into oblivion on purpose. (Collectively, could they really be this reckless, stupid and destructive? Is that conceivable? Or is something far more evil and diabolical at work?) Pinning one's hopes to "change" is an act of insanity given the situation. The only change in America is the total lack of it.
There is a solution: It is called the Truth. The United States government must irrevocably admit that its wanton, escalating experiment with socialism has catastrophically failed, just as it has failed every other time throughout history that it has been attempted. And the people must be told that this nation can return to greatness only if they and their government will return to the virtues that made it great in the first place: honesty, responsibility, restraint, ingenuity, hard work, self-reliance, morality, character, dignity, patriotism and an abiding belief in something greater than ourselves. Each reader can make his or her own decision as to whether America and its "leadership" will have the strength to face the truth, or not. If they do not, then we will soon enter a period of personal and financial survivalism. If you believe that the nation will not face reality, then you must immediately begin to put your affairs in order. Those who think ahead will be able to survive the whirlwind denial will unleash. But those who stand before that tornado, unprepared, have poor and more likely tragic prospects. The odds that you, the reader of this article, will find a way to prevail are good. But unfortunately for your fellow citizens, you are in a small minority. You are distinguished by courage, thoughtfulness, an ability to face facts, resourcefulness, and a genuine concern not just for yourself, but for all who are dear to you. Those virtues were required to read this difficult article. Those same virtues will save you as the flag of the future unfurls. July 10, 2009 ********** Stewart Dougherty is a specialist in inferential analysis, the practice of identifying patterns and trends from specific, contemporary events, and then extrapolating their likely effects upon the future. Dougherty was educated at Tufts University (B.A.) and Harvard Business School (MBA and an academic Fellow). He can be reached at: email@example.com. He is not affiliated with or compensated by those he references or recommends. This article may be shared by the reader as the reader desires, as long as the article remains unchanged and the author is acknowledged. Copyright 2009 by Stewart Dougherty, with all rights reserved. ***** From a Fellow Subscriber:
Mr. Chapman: If you will allow me, an ordinary modest American, to make some comments on an essay from a recent International Forecaster newsletter, I would be appreciative. In your June 20th issue, as usual, there were several interesting and informative narratives and commentaries of the “From a Fellow Subscriber” sections. I was particularly struck with the essay beginning with “The United States has entered the third and final stage….” I was puzzled at the writer’s choices for the stages and his/her time period designations of these stages. He/she virtually ignores the Old Republic era, aka the ante bellum, pre Civil War period, which includes the Revolutionary War, as being of any significance. This period is not even designated as a “stage” but is merely referred to as “ a marginal nation of settlers, explorers, farmers, entrepreneurs, and religious refugees to become the world’s richest and most powerful….” (My underscore) ‘Marginal?
But I should have not been surprised at this description. The initial stage was comprised of the land, the rural regions, the farmers, you know, the food producers, both large and small, the towns, and with the wise constitutional balance where neither rural nor urban dominated the other. Alas, this foundational period is currently, and truthfully, over much of the last century, described by mainstream sources and institutions as an era and philosophical mindset to be virtually ignored and frowned upon, and even some alternative media will rarely mention, or as Orwell would phrase it as ‘to be pushed down the memory hole.’ (Funny, that practice is reminiscent of the line by which the Bolsheviks and their successors forced Russia to regard her past. But as you know, Lenin described it very well.) Then came disruptive measures of special interests that destroyed this delicate balance of political strength and mutual respect, such as the Morrill Act, which had been preceded by the largely censored and totally misunderstood South Carolina nullification efforts. Morrill was a New Hampshire steel manufacturer who desired legislation that would benefits his business. Measures and special interests that, as forewarned, did result with the agrarian southern states, and subsequently, the west being reduced to the status of mere economic satellites of rich northern interests; in truth, the Morrill Tariff would have economically wrecked the South. The cry “States Rights!” had nothing to do with the institution of slavery, but newspeak, lying propagandists for the victors rewrote history. And of course, the victors in a war always demonize the losing side. The Bill of Rights also suffered during the ‘second war for independence‘, which was lost. Consider the actions, attitude, and statements of many Lincoln administration officials. From very good sources, such as, Excerpts from author and general editor, John J. Dwyer’s The War Between the States--America’s Uncivil War. “The Lincoln Administration expressed great concern over Northerners who did not exhibit what it considered sufficient loyalty, or sufficiently enthusiastic loyalty, to the Union and its war effort. After suspending the constitutionally guaranteed writ of habeas corpus early in the War, the President and his lieutenants shut down over 300 Northern newspapers in the course of the struggle, throwing many of their editors and publishers in jail or prison without trials and often without charges. Approximately 14,000 other Northern citizens met the same fate.” “Only one of numberless examples was that of Dennis A. Mahoney, editor of the Dubuque (Iowa) Herald newspaper. He was taken from his home in the middle of the night and freighted across the country to Washington’s Old Capitol Prison. His offense? The Lincoln Administration considered him disloyal because he had challenged the Constitutionality of some their actions in his newspaper.” Consider the following remarks and attitudes of top Lincoln officials: “I can touch a bell on my right hand, and order the arrest of a citizen of Ohio [Clement Vallandigham]. I can touch the bell again, and order the imprisonment of a citizen in New York: and no power on earth, except that of the President, can release them.
Can the Queen of England do so much?” -- Secretary of State William Seward “If I tap that little bell, I can send you to a place where you will never hear the dogs bark.” -- Secretary of War Edwin Stanton And as you know, I believe it was Mr. Stanton who boasted, “States Rights died at Appomattox.” Yes, many in that administration knew what they had done. The delicate balance of power between local, state and federal jurisdictions had been severely damaged, if not, done away with. These are a just a few examples, for the sake of brevity, of the severe damage sustained by the Constitution and Bill of Rights during the Civil War and afterwards. This breakdown continued in the late 19th century and early 20th century with additions to the original Constitution, as you know. The delicate balance of power initiated by our Founders was deteriorated, if not abandoned, by the tremendous growth of the Federal bureaucracy, increasing military aggression, the growth of towns and cities, particularly the financial sector, which subsequently devoured more and more of the country’s wealth. The rural regions and small towns grew poorer as the large cities absorbed the lifeblood, the money and talent, from the provincial areas. Constitutional apportionment was soon out the window certainly by the early 20th century. And our troubles were only beginning. The Old Republic was soon replaced by an unstable, warlike, buttinsky, polyglot democracy, mobocracy, which as you know, is now being replaced by a tyrannical, destructive dictatorship of global proportions. Thank you for your time. ***** From a Fellow Subscriber: Hi Bob—I do not know this—but Goldman might have been given Promise software by the US gov't, which means that every other trading platform was 100% transparent to Goldman in real time—they would be able to see everyone buy and sell orders in “real time” as they traveled across computer networks between brokers-stock exchanges— and even between individual customers—rumor has it that Promise software can hack and read everyone’s numbered bank accounts in places like Switzerland and the Caymans—as per your reporting they made billions—because they could read everyone else’s cards in the casino as they held them in their hands—this is a quantum leap beyond just plunge protection-type intervention scams by the fed and treasury—Promise software cannot be bought commercially—and if it has been stolen or it’s source code has been stolen or copied from Goldman—then there will be a black market for it—and Goldman—the Fed—the Treasury—and all the intelligence agencies world wide can be spied on cart blanche— by anyone who has a copy of Promise software—it was originally stolen by lawyer criminal Ed Meese on behalf of the US gov't—from the original owners and original developers—so
What goes around comes around—I do not know any of the above—but as a computer guy if I had to guess my guess is what I wrote above—if Goldman reads any or all of the above they will freak—since the criminal advantage they had being the only one using Promise software to rip off the whole planet is “PRICELESS”—also if the named perpetrator was given bail by the judge—it will be very difficult for Goldman to prove a dollar loss for software they got for “free” and which they were using to give themselves a criminal advantage over everyone else—the guy who did it might walk. PS—all grey market satellite dishes are down indefinitely in North America—MexicanCaribbean-Central America—the sat companies are changing their encryption from nagra 2 to nagra 3—they are now in transition some channels are on the old nagra 2 encryption and some channels have migrated to nagra 3—the sat companies—Rupert Murdoch have hired the guy who hacked their nagra 2 encryption system—which it is rumored he was able to do in less than 2 weeks—this is the guy that they are rumored to have paid a 7 figure sum—to design their nagra 3 encryption system—so if I was going to bet money—I would say that all the sat receivers that were running on nagra 2 are now all paper weights—indefinitely. PS-in case you have not seen it yet a guy in Florida, Ross Mandel age 52-a coreligionist of Bernie Madoff has ripped of clients for $150 mil--another guy down under Simon Feldman age 42--also a co-religionist took Aussie investors for $160 million. *****
COMMODITIES Crude oil inventories fell 2.9 m/b, gas rose 1.9 m/b and distillates rose 3.74 m/b. The EIA reports natural gas inventories up 75 bcf. The half-wit pedophile known as British PM Gordon Brown at the G-8 conference will try to win support for new international market rules to ban speculative trading in oil, which he and France’s President Sarkozy are fully behind. Mussolini would be proud of both of them. GOLD, SILVER. PLATINUM AND PALLADIUM The volume of mining production in South Africa fell 14.5% on the year in May, official data released Thursday showed. The slump follows a 10.6% decline the month before. Gold output fell by 10.5% on the year, and production of other minerals dropped by 15.1%, Statistics South Africa said. Mineral production between March and May was down 9.8% on the same period last year, with weaker output of platinum group metals the main contributor, the statistics agency's data showed. Mineral sales for April, the most recent figure available, were 19.4% down on a year earlier at 20.56 billion rand ($2.5 billion), as a 23.8% fall in the value of non-gold sales offset a 6.5% rise in gold sales, Statistics SA said. Wednesday was not a good day for gold and silver, as our government spent the last four days making sure they were non-entities. Spot gold fell $20.10 to $909.00, as August traded $0.40 lower. Spot silver fell $0.39 to $12.84, as the outside contract traded $0.05 higher. Gold open interest fell 1,632 contracts to 372,985, as silver OI fell 619. The HUI fell 14.35 to 312.98 and the XAU fell 4.21 to 129.30.
The ECB indicated a 5-million euro sale of gold or 0.23 tons by one central bank last week. The yen rose .0283 to $.9239; the euro fell .0093 to $1.3843; the pound fell .0144 to $1.6014; the Swiss franc fell .0043 to $1.0924; the Canadian dollar fell .0048 to $.8540 and the dollar index, USDX, fell .05 to 80.66. Oil fell again, off $2.75 to $60.17. It has fallen for 7 of 8 days from $70.32. This is certainly not normal. It stinks of government interference. Gasoline has fallen from 1.90 to yesterday’s $1.64, off $0.09 and natural gas fell $0.01 to $3.64. Copper fell $0.05 to $2.17; platinum fell $35.60 to $1,100, and palladium fell $6.50 to $234.00. The CRB fell 5.34 to 231.21. Thursday was somewhat of a disappointment. Spot gold rose $6.90 to $915.90 and the August month was about the same. Gold rose $9.50 and was weaker in the thin access market as a result of government selling. Spot silver closed at $12.92, up $0.08, but it closed $0.14 lower in September. As a result the shares gave up most of the gains of earlier in the day. As a result the HUI rose 1.32 to 314.30 and the XAU rose .99 to 130.24. In just 6 weeks gold has been taken down from $980 and silver from $16.00. Gold open interest rose 1,058 to 374,043, as silver OI rose 515 to 100,981. The yen was unchanged at $.9239; the euro rose .0201 to $1.4040; the pound fell .0154 to $1.6014; the Swiss franc fell .0046 to $1.0924; the Canadian dollar fell .0078 to $.8618 and the dollar index fell .15 to 79.93. Oil rose $0.24 to $60.41; gas rose $0.02 to $1.66 and natural gas fell $0.23 to $3.41. Copper was $2.24, up $0.07; platinum was 1,100.50 up $.50 and palladium rose $1.75 to $235.75. The CRB was 234.53, up 3.32. Friday was as we expected it to be, it was a flat day. Spot gold fell $3.50, as the August month was off $3.40. Silver fell $0.30 to $12.62 as JPM again slammed silver. The September contract fell $0.27, a little less. As the University of Michigan Confidence Index fell from 70.8 to 64.6 the market and the dollar rallied and gold fell $10.00, exactly the opposite of what they should have done. That is your Orwellian government at work. Gold open interest fell 7,134 contracts to 366,909, as silver OI dropped 2,082 to 98,809. Lots of room on the upside. The COT commercials reduced shorts by a net 6,511 contracts. The HUI fell .41 to 313.49 and the XAU fell .30 to 129.99. AEM fell 0.49%, or $0.24 to $49.11; GG rose 0.03%, or $0.01 to $32.99; SSRI fell 2.98%, or $0.52 to $16.94 and MFN fell 0.97%, or $0.07 to $7.16. In the first six months of the year the US Mint sold 680,500 one-ounce American Eagle gold bullion coins, up from 180,000 yoy. The yen rose .0081 to $.9231; the euro fell .0088 to $1.3956; the pound fell .0171 to $1.6194; the Swiss franc fell .0062 to $1.0838; the Canadian dollar fell .0017 to $.8601 and the dollar index, the USDX rose .45 to 80.32. Oil fell again, off $0.66 to $59.75; gas fell $0.01 to $1.64 and natural gas fell $0.01 to l$3.38. Copper fell $0.02 to $2.22; platinum fell $1.50 to $1,100.00 and palladium fell $0.20 to $235.45. The CRB Index fell 1.02 to 233.51. ***** Catching The Gold Bug http://online.wsj.com/article/SB10001424052970203577304574275953355412882.htm l ***** Gold, the U.S. Dollar, and the Chinese Yuan http://www.marketoracle.co.uk/index.php?name=News&file=article&sid=11928 *****
Industry worries haste could hurt CFTC reform http://www.reuters.com/article/ousiv/idUSN1052575320090710 ***** DISCOUNT GOLD & SILVER TRADING 1800 375 4188 For the best in pricing and service for gold and silver coins, call Melody at 1-800375-4188. Be sure to listen to DGSTC with Bob Chapman live on Short-wave 7.415Mhz M-F 4:00PM ET, Replays Tuesday thru Friday 8pm RT 7.465Mhz 3.215 MHz M-F 11PM ET and weekly archives at discountgoldandsilvertrading.net The Undefined Dollar If you pick up a paper $50 bill in your left hand, you’ll see a picture of President Grant in the center and text along the bottom of the bill that reads, “FIFTY DOLLARS”. If you simultaneously pick up a recently-minted one-ounce “Gold Eagle” in your right hand, you’ll see an inscription on the coin that reads, “1 OZ. FINE GOLD – 50 DOLLARS”. Both the paper $50 bill and the gold $50 coin are declared by law to be “legal tender”. Both are apparently worth “$50”. But it currently takes about twenty of the paper “FIFTY DOLLAR” bills to purchase one “50 DOLLAR” gold coin. So, here’s the $50 question: What, exactly, is a “dollar”? Answer: Nobody really knows because the modern dollar is undefined. And therein lies the foundation for our current economic predicament. The UK Telegraph recently published an article by Edmund Conway entitled “Is this the death of the dollar?” In that article, Mr. Conway wrote: “When US Treasury Secretary Tim Geithner tried to insist at a university lecture in Beijing in June that "Chinese financial assets [US bonds denominated in dollars] are very safe," he drew floods of laughter from the audience. He wasn't playing for laughs, but the irony of the situation is plain to see. If there were a textbook list of actions one could take to weaken a currency, the US (alongside most other developed nations) would be following it to the letter.” The gov-co’s object is not to “weaken the dollar,” per se. Such “weakening” will take place, but as a means rather than an object. I.e., it doesn’t really matter much if inflation causes the current price of gasoline doubles from $2.50/gallon to $5.00/gallon if wages simultaneously double from $20/hour to $40/hour. In fact, there’s no fundamental reason why our undefined “dollar” (now worth 3 cents as compared to 100 cents 70 years ago) couldn’t fall in value to 0.3 of a cent or even 0.003 of a cent and continue to function. Why? Because the modern dollar is undefined. What’s the difference between 0.3% and 0.003% of a “dollar” if the “dollar” has fixed definition and meaning? The differences are only relative; they have no tangible meaning or objective consequence. If government caused 100% inflation, it would cause prices and wages to simultaneously increase by 50%. So long as both prices and wages increased uniformly, there’d be little adverse effect on the average American. But—the same 100% inflation would be ruinous to existing debts and existing paper “assets” (promises to pay). For example, suppose I loaned $100,000 to Bob
when gas was $2.50 and Bob gave me a promissory note promising to repay $100,000. And suppose that before the note was due, we suffered 100% inflation. Then Bob would indeed repay me “$100,000,” but the 100% inflation would wipe out 50% of the purchasing power of the $100,000 that I’d loaned. Thus, by means of inflation, Bob’s existing debt would be largely repudiated and I would have lost 50% of the purchasing power of my paper “asset”. Given that our current, total American debt is too great to ever be repaid in full, it’s a virtual certainty that the object of inflation is to repudiate much of the existing debt rather than “weaken” the dollar. Mr. Conway also wrote: “Like everything else, the currency's fate depends on how well the US authorities manage the crisis.” Exactly. The dollar is not about a measure of value; it’s about management and even manipulation of public confidence. If public confidence can be sustained, the dollar lives. If public confidence is lost, the dollar dies. The purchasing power of our dollar is primarily based on psychology rather than tangible and objective reality. Paper, irredeemable, fiat currency is nothing more than a measure of public confidence; public psychology. The public will maintain confidence in the fiat currency/psychology so long as the purchasing power of the currency doesn’t change too rapidly. In other words, the problem is not the total amount of inflation but rather the rate at which the purchasing power of the dollar changes. For example, over the past 70 years, the dollar lost 97% of its purchasing power. But who noticed? Almost no one. More, despite a 97% loss, the dollar seems more or less alive and well. But what if the dollar lost 97% of its purchasing power in just one year? The public would scream, lose confidence in the dollar, and the dollar would die. Cumulative inflation won’t kill the dollar—but a hyperinflationary rate of inflation just might. Mr. Conway: “Rather like the brinksmanship on display throughout the Cold War, China’s problem with an overload of dollars is a dilemma which applies itself to game theory. . . . If you are the Chinese it is in your interest to play the game—you've got a lot of dollars at stake—but in the long run you surely want to reduce your holdings and diversify them at the margins.” In other words, by “saving” over $1 trillion of our undefined dollars, China found itself in a “dollar trap”. China knows the dollars are fundamentally worthless. China knows that the dollar will be inevitably recognized by the world as intrinsically worthless. So China would very much like to dump its $1 trillion. But China also knows that if they try to dump their $1 trillion, the will cause “confidence” in the dollar to fall faster than China can get rid of its dollars and thereby cause the value of dollars to plummet dramatically. Suppose China’s attempt to dump dollars caused the relative value of the dollar to fall by 50%. China’s $1 trillion would suddenly be worth only $500 billion. China is caught in a “dollar trap” wherein they’re “darned” if they do and “darned” if they don’t. If they keep the dollars, they lose. If they dump the dollars, they lose. What a predicament, hmm? But it’s China’s own fault. They were dumb enough to take undefined dollars in payment for their exports. Soon, they’ll have to pay the price for that stupidity and greed. More, Mr. Conway’s reference to “game theory” to describe China’s predicament is also a perfect analogy for modern economics since the modern dollar
has no more tangible value than Monopoly money. The whole system is nothing but a “game”—and a “con-game,” at that. The “world's reserve currency” is the standard against which all other currencies and major commodities are denominated and defined. It is the de facto international unit of account in trade and finance. The world’s major currencies are currently denominated/defined against the dollar—but the dollar has no definition. This lack of definition creates a kind of madness. To illustrate the problem, suppose you asked someone how far it is to New York City and they answered “40 gorks”. “Uhh, OK—but how long is a ‘gork’?” “Umm—it’s exactly ten ‘deci-gorks”.” “OK. OK. . . . so how long is a ‘deci-gork’?” “Well, it’s one-tenth of a ‘gork,’ silly. Didn’t they teach you any new math at public school?” You can see that measuring a distance with a unit of measure that has no fixed definition is futile, frustrating and maddening. The same is true with money and even an economy measured in undefined “dollars”. Today, there’s no fundamental monetary reality other than rates of relative change. In the same sense (Mr. Silly) that a “deci-gork” is one-tenth of a “gork,” the whole monetary system is “relative”; it has no fixed tangible reality. The English pound is always falling. So is the Japanese yen. But they are falling relative to the dollar which, presumably, is also “falling”—but who can say for sure, since the dollar has no tangible definition? Without tangible definition and fixed point of reference, what is up, down or sideways? Without definition, how can the rise or fall of the dollar’s purchasing power be accurately measured relative to other currencies which also have no fixed definition? The problem of “valuing” a currency is not whether the purchasing power of any currency is falling—they’re all constantly and intentionally falling. The problem is discovering whether a particular currency is falling (or rising) much faster than the other currencies. As a result, the entire global financial system has become undefined, un-measurable, and as irrational as a Monopoly game where each player starts with $100 trillion and gets $200 trillion every time he passes Go. Without a tangible foundation based on some fixed definition, every economy measured in dollars has become as surreal as a painting by Salvador Dali. It may be true that the U.S. Gross Domestic Product (GDP) is up from $12 trillion to $13 trillion, but what does that information mean so long as the dollar is undefined? Look! Up in the sky! Is it a bird? Is it a plane? Nope. It’s about $1 quadrillion in total world debt that has somehow been spawned by a world whose annual GDP is only about $55 trillion per year. How can the whole world be in debt for 20 times the world’s annual gross? In a rational world, you’re more likely to see a squadron of UFOs land in your back yard than $1 quadrillion in debt. But, so long as the dollar is undefined, we don’t live in a rational world. Without definition, reason is impossible. At bottom, the creation of $1 quadrillion in debt must be based on the undefined dollar. So long as the dollar remains undefined, what’s the difference between $1 quadrillion, $1 trillion, or $1 billion—except some zeroes and commas? None of it finally makes sense—except as nonsense to impress and beguile the yokels. Result? All economics becomes irrational, unreasonable and based on “public confidence” rather than substance.
The undefined dollar is part of the reason that economic statistics are routinely fabricated. But “fabricated” economic statistics aren’t really lies since, without a defined dollar, there is no truth. Of course, the government fabricates economic statistics. Given that the economy is based on our collective “psychology” rather than objective reality, government is essentially obligated to deceive the great unwashed into believing that the “economy” is strong or stable or at least not falling like a stone. If the only reality is public psychology, why shouldn’t gov-co lie to support that psychology? But in the end, it is the human instinct to seek meaning, value, rationality and stability that will compel the world to return to a gold-based monetary system. (How can there be “stability” without fixed definitions? What’s the difference between a GDP of $10 trillion, $20 trillion and $100 trillion if the dollar is undefined?) I very much doubt that we, as rational men and women, can long endure the irrationality of a world where it takes twenty $50 bills to purchase one $50 Gold Eagle. Which brings us back to gold (or maybe silver, or platinum or even crude oil). Sooner or later we will abandon the paper, fiat dollar—if only to escape the mindnumbing questions raised by an undefined dollar. Sooner or later, we will define dollars (or whatever currency replaces dollars) in terms of some fixed, physical mass of some thing. That something will almost certainly be gold. The system may try a few other alternative “definitions” for dollars, but in the end the only rational definition for money for most of 5,000 years has been a particular mass of gold, and inevitably, our money will again be defined in terms of gold. The modern “dollar” will die. Not because it’s been “weakened” by inflation, but because it is undefined and therefore irrational, unreasonable and conducive to madness. Buckle up. email us at: firstname.lastname@example.org Discount Gold & Silver Trading Co. provides all forms of precious metals including gold, silver platinum and palladium whether you are buying or selling. Our inventory includes but not limited to the American Gold, Silver, Platinum Eagle and numismatic products including rare, investment and circulated coins. Silver dollars, silver bars, rounds are on hand for the silver investor. Foreign gold is also available. Call for information regarding your precious metal gold and silver IRA. 1 800 375 4188 CANADA Housing starts rise in June to 140.7K. Canadian increases its International Merchandise Trade deficit to 1.42B New Housing Price declines 0.1% in May, unemployment rate rose 8.6%, less than expected. EUROPE Ireland will hold a second vote on the European Union’s new governing treaty on Oct. 2 after the government secured guarantees from the EU on issues such as neutrality, taxes and ethics, Prime Minister Brian Cowen said. Irish voters rejected the Lisbon treaty in a June 2008 referendum, jeopardizing the EU’s plans to deepen economic integration and broaden its global profile. All EU member states must give their backing to the revamp.
“A ‘yes’ vote puts us at the heart of Europe, a ‘no’ vote does marginalize us and put us at the periphery,” Foreign Minister Micheal Martin told reporters in Dublin today after Cowen announced the date of the second vote in parliament. A June 5 opinion poll by Lansdowne Market Research for Irish state broadcaster RTE showed that 54 percent of the country’s voters now favor the treaty and 28 percent oppose it. Spain is planning to extend benefits paid to the country's growing legions of unemployed as part of a government-brokered labor market reform agreement between employers and unions, Finance Minister Elena Salgado said Wednesday. "It [the agreement] will include the extension of benefits, a new type of benefit linked to training programs," Salgado told journalists on the sidelines of a conference. Salgado said she thought employers and unions will reach a labor market reform agreement this month or next, but couldn't say what other provisions it would include. Employers have been pushing to lower their payments into the country's social security system as well as to reduce the high redundancy costs they pay, but unions are adamantly opposed to such changes. Spain had an 18.7% unemployment rate in May, nearly twice the 9.5% rate for the wider euro zone. Germany May Industrial Production up 3.7% MoM, down 17.9% YoY. EU First Quarter GDP falls 2.5% QoQ and 4.9% YoY. German corporate insolvencies rose 7.1% in April, compared with the same period last year, Germany's Federal Statistics Office said Wednesday. However, an accurate comparison with all the German states isn't possible due to incorrect statistics filed in 2008 by the the state of Nord-Rhine Westphalia. Statistics for this state aren't included. A total of 2,979 companies filed for insolvency in April, compared with 2,781 in April 2008, according to statistics office data. From January to April 2009, corporate insolvencies rose 12.1% to 10,691, compared with the corresponding period last year. In April, household or consumer insolvencies fell 5.7% to 8,251 compared with the previous year. In the year to the end of April, household insolvencies fell 3.7% to 32,357. Total insolvencies in April, including those from businesses, consumers and formerly self-employed, fell 3.4% to 13,676 and from January to April insolvencies fell 0.6% to 52,680. Switzerland June Unemployment Rate s.a. up to 3.8% vs 3.5%. Ireland's consumer price index fell more than expected in June, dropping 5.4% on the year and 0.3% on the month, mainly due to lower mortgage costs, the Central Statistics Office said Thursday. The CPI was expected to fall 5.0% on the year and remain unchanged on the month in June, according to a Dow Jones Newswires survey of five economists. In May, CPI fell 4.7% on the year and dipped 0.5% on the month. However, excluding mortgage costs, Ireland's CPI fell only 1.6% on the year in June. Clothing and footwear costs fell 12.2% on the year in June, while petrol prices rose 5.1% on the month, but fell 11.5% on the year, while diesel rose 2.3% on the month, but plummeted 27% on the year. The Netherlands' annual inflation rate dropped to 1.4% in June, from 1.6% a month earlier, the Dutch Central Bureau for Statistics said Thursday. Russia's gold and foreign exchange reserves fell by $1.4 billion to $409.1 billion in the week to July 3, the central bank said Thursday. The drop follows a $3.4 billion rise recorded in the previous week. Germany June CPI up 0.4% mom and 0.1% yoy.
French President Nicolas Sarkozy called for a revamp of the global currency system, saying Thursday that the dollar's supremacy is outdated. Russian President Dmitry Medvedev illustrated his call for a supranational currency to replace the dollar by pulling from his pocket a sample coin of a “united future world currency.” “Here it is,” Medvedev told reporters today in L’Aquila, Italy, after a summit of the Group of Eight nations. “You can see it and touch it.” The coin, which bears the words “unity in diversity,” was minted in Belgium and presented to the heads of G-8 delegations, Medvedev said. The question of a supranational currency “concerns everyone now, even the mints,” Medvedev said. The test coin “means they’re getting ready. I think it’s a good sign that we understand how interdependent we are.” Medvedev has repeatedly called for creating a mix of regional reserve currencies as part of the drive to address the global financial crisis, while questioning the U.S. dollar’s future as a global reserve currency. Russia’s proposals for the G-20 meeting in London in April included the creation of a supranational currency. The annual decline in Spanish consumer prices continued to accelerate in June due to slack demand in a deep recession, data from Spain's National Statistics Institute, or INE, showed Friday. Spain's June consumer price index fell by 1% on the year but was up 0.4% on the month, the INE said in a statement. The monthly increase was due to a spike in fuel and tobacco prices ahead of tax increases effective July 1. On a European Union-harmonized basis, Spanish consumer prices fell 1% on the year in June, matching the estimate the INE gave June 29. June fuel and energy prices showed the biggest year-on-year declines, falling by 21% and by 14%, respectively, due to a sharp fall in international oil prices over the same period. Stripping out volatile oil and fresh food prices, underlying Spanish consumer prices increased year-on-year, though they continued to ease as unemployment spirals higher and consumers rein in spending. Annual underlying inflation was 0.8% in June, down from 0.9% in May. "We expect this downward trend to gain even more momentum in July and August," BNP Paribas economist Luigi Speranza said in a note to investors, adding he expects bigger-than-usual discounts during the summer retail sales season and a slack summer tourism campaign. In May, Spanish CPI fell by 0.9% on the year and was flat on the month. Spanish consumer prices have been posting annual rates of decline since March. For the wider euro zone, consumer prices fell by an 0.1% annual rate, acording to the flash estimate, the first fall since records began in January, 1997. The annual decline in Spanish consumer prices continued to accelerate in June due to lower energy prices and a sharp drop in economic activity, data from Spain's National Statistics Institute, or INE, showed Friday. Spain's June consumer price index fell by 1% on the year but was up 0.4% on the month, the INE said in a statement. In May, Spanish CPI fell by 0.9% on the year and was flat on the month. Stripping out volatile oil and fresh food prices, underlying Spanish inflation was 0.8% in June, down from 0.9% in May. On a European Union-harmonized basis, Spanish consumer prices fell 1% on the year in June, matching the estimate the INE gave June 29 Danish annual inflation continues to decline, data showed Friday.
The year-on-year rate for the European Union-harmonized index of consumer prices fell in June to 0.9% from 1.1% in May, while the monthly rate for June was 0.2%. France's current account deficit narrowed in May from April due to an increase in the services surplus and revenue, data published Friday by the Bank of France showed. The current account deficit totaled EUR2.2 billion in May, compared with a revised EUR3.5 billion in April, which had been initially estimated at EUR3.1 billion. In May, the goods balance deficit narrowed to EUR3.6 billion from EUR4.4 billion in April, while the services balance surplus increased slightly to EUR1.4 billion from a revised EUR1 billion a month earlier, previously estimated at EUR1.1 billion. Revenue in May increased to EUR2.2 billion from a revised EUR2.1 billion a month earlier, previously estimated at EUR2.2 billion, the central bank said. Foreign direct investment in France during May increased to EUR12.6 billion from EUR3.7 billion in April, while the direct investment deficit narrowed to EUR3.1 billion from EUR5.7 billion a year earlier. German Wholesale Price Index rises 0.9% in June; falls 8.8% YoY. Italian industrial output in May slowed on the month-earlier period, as production of investment and durable goods slipped, after rising for the first time in a year, Italian statistics office Istat said Friday. Industrial production was flat on the month compared to an upwardly revised on-month rise of 1.2% in April. When adjusted seasonally and for the number of working days, industrial production fell 19.8% on the year-earlier period, compared with a downwardly revised annual fall of 24.3% in April. ***** "We need to ask the question: shouldn't a world that is politically multi-polar correspond to a multi-monetary world economically?" The said in a news conference during a summit of world leaders in L'Aquila, Italy. Sarkozy compared an overhaul of the global currency system to the enlargement of the Group of Eight structure to encompass fast-growing emerging economies, which were invited to join the Italian summit. He said the supremacy of the dollar belongs to the post-Second World War era when America was the predominant world power both economically and politically. "Even if it's a difficult topic, I hope that in the coming months we will talk about currencies and the international monetary system," he said. "There has to be a debate." Leaders of rich and developing nations agreed not to resort to currency devaluation to gain a competitive advantage, but -- with the absence of the Chinese President Hu Jintao, who returned home to deal with violence in western Xinjiang -- the final statement didn't mention the dollar's status as the world's reserve currency. "We will refrain from competitive devaluations of our currencies and promote a stable and well-functioning international monetary system," said the leaders of the G-8 industrialized nations, together with Brazil, China, India, Mexico, South Africa and Egypt. One of the reasons often cited as to why the 1930s Great Depression lasted so long
was that countries acted independently to protect their own interest by undermining their currencies. A cheaper currency boosts exports. Christine Lagarde, France's finance minister, was particularly vocal earlier this year about how Britain was gaining an advantage by doing nothing to stem the sharp fall in the pound against the euro. Though the dollar was not mentioned in the declaration, its future as the world's reserve currency is likely to remain a topic for debate over the coming months or years, as China, Russia and India have expressed their desire to see long-term changes in the international monetary system. But they have been careful to not push their desire for change too far -- in case the dollar slumps and the value of their large dollar-denominated investments plummet. China said its officials raised the issue in Italy at a working lunch on Thursday lunch, but British Prime Minister Gordon Brown said he it was not on the formal agenda. "There was not a serious discussion about this," Brown told reporters. "In this present situation as we're trying to get out of a deep recession, I don't want to give the impression that there's some major change about to happen round the corner that suggests that the present arrangements are destabilized." White House press secretary Robert Gibbs said that the dollar was not brought up in bilateral talks on Thursday with U.S. President Barack Obama and Brazil President Luiz Inacio Lula da Silva, despite a lengthy conversation on the economy. "I think that despite whatever talk you might hear, I don't see that there's any movement away from the notion of the dollar being that currency," Gibbs told reporters. A sliding dollar would be bad for global growth as it introduces uncertainty into the financial markets and would raise the prices of commodities, such as oil, that are priced in dollars. It would also make it far more difficult for the U.S. to fund its deficits as investors would be wary of buying up U.S. Treasury debt. AP reporters Charles Babington and Jane Wardell in L'Aquila and Michael Bushnell in London contributed to this report. http://www.businessweek.com/ap/finan.../D99B5IQ80.htm ***** ENGLAND House prices fell in June although the annual decline continued to ease, lender Lloyds Banking Group said Wednesday. According to HBOS, now owned by Lloyds, the Halifax house price index declined 0.5% from May and was 15.0% lower than a year earlier. That compares with a 2.6% month-on-month rise in May and a drop of 16.3% on the year. Jewish schools are guilty of racial discrimination if they reject children on the grounds of their parentage, a British court has ruled.
In a decision that has shocked the country’s 300,000-strong Jewish community, the Court of Appeal held that ongoing personal acts of faith, rather than birth or conversion, must define who is a Jew. In doing so, the court overturned an earlier high court judgment upholding the decision of the JFS in London (the oldest and largest Jewish school in Britain) to deny a boy admission because it did not recognize his mother’s conversion. The three judges, one of them Jewish, ruled that any selection criteria that gives ethnic priority to a Jew is showing racial discrimination. They cited the Race Relations Act 1976, which was introduced to prevent discrimination on the grounds of race. The ruling means that Jewish schools of any denomination, whether privately or state funded, will be barred from giving priority to children who are born Jewish or who convert, and instead must consider how the children and their families practice their Judaism. The move throws into disarray the admissions arrangements for Britain’s 97 Orthodox schools and may force them to introduce “faith tests” — like church schools, which require fortnightly attendance at Sunday services. Such a radical intervention — unprecedented since the time of Oliver Cromwell — calls into question the relationship between church (or synagogue) and state. The United Synagogue, the denominationto which JFS belongs, already has spent almost $250,000 in legal costs to fight the case, and is now planning a challenge at the highest court in the land, the House of Lords. The boy’s mother had converted under the auspices of an independent progressive synagogue but JFS rejected his application in line with its admissions policy, which prioritizes children recognized as Jewish by the Office of the Chief Rabbi. Despite representing its largest religious Jewish denomination — the Modern Orthodox United Synagogue — the Chief Rabbi is not a religious representative of all British Jewry. The father of the boy — for legal reasons identified only as Child M — challenged the school at the high court, claiming the school’s actions had been racist and illegal. He lost. But, after two years of legal wrangling, the Court of Appeal found in his favor on 25 June. The judges said: “The motive for discrimination, whether benign or malign, theological or supremacist, makes it no less and no more unlawful.” They held that it was lawful to discriminate between Jewish and non-Jewish children on religious grounds, but not on what they called racial grounds. Atalia Cadranel, spokeswoman for the Board of Deputies, an elected body representing all Jews in the United Kingdom, said: “This is a landmark judgment that has major ramifications for every Jewish school in the U.K. The ruling says that the school’s actions were ethnically inspired — and in contravention of the Race Relations Act of 1976. In fact, all Jewish schools base their admissions criteria on religious law and not ethnic criteria. “Unless the judgment is overturned, schools admissions will be on the basis of a faith test. “It could be dependent on things like shul attendance, but will be determined by the relevant rabbinic authority of the given school. The concern is that this is a retrograde step and could end up with families feigning observance in order to secure school places. Likewise, some families may be denied the chance to give their children a Jewish education.” Rabbi Tony Bayfield, head of the Movement for Reform Judaism, strongly disagrees with the JFS admissions policy but remains opposed the court’s intervention. He said: “JFS denies Jewish status to converts from Reform, Liberal and
Masorti, and we abhor that… But we are also extremely worried about the state interfering in our right as a Jewish community to define for ourselves who is a Jew.” Jack Rabinowicz, a Jewish lawyer and expert in education law, said: “It’s the first time since the resettlement of Jews in this country more than 350 years ago that the state has intervened in the question of who is a Jew. That’s quite a remarkable thing. “Jews have benefited over the last several decades from the Race Relations Act. You have had Jewish policemen, for example, who have claimed discrimination if they’re asked to work on Shabbos. The court accepted you can have discrimination on the basis of faith. The difficulty for schools, old-age homes and other institutions is that if you have discrimination on the grounds of religious practice, then that’s very much more difficult. You can a have a Reform Jew who is very careful about their practice and an Orthodox Jew who is very much more lax.” Rabinowicz suggests the House of Lords may take the view that the ruling goes too far in terms of state intervention, and reverse it. The Liberal movement is the only denomination to welcome the ruling. Rabbi Danny Rich, chief executive of Liberal Judaism, said: “We have taken the most clear and outspoken position on this. Judaism is transmitted not by birth, but by identity and upbringing.” He further noted that it was not proper for a state-funded school to decide its admissions based on the status of the child’s mother and with reference to only one British Jewish religious authority. Joshua Rowe, chair of governors at Manchester’s King David High School, the largest state-funded Orthodox school outside London, said: “The selection process at JFS and other denominational schools is based on religion, not race. The test of birth is a religious test, not a racist one. It is a test utilized to define who is a Jew, and it is a test which is intended solely to preserve the religious character of the school and the right to preserve ‘difference.’ To the extent that it might be argued that Judaism is itself racist (because it defines membership on the basis of birth), the rebuttal must surely lie in the fact that anyone who is not Jewish by birth is nevertheless entitled to join the faith.” JFS itself has issued a brief statement saying it is disappointed and believes the ruling will undermine its ethos. It said it was still unclear how the ruling would affect admissions for the new school year in September, but declined to comment further. Chief Rabbi Sir Jonathan Sacks said: “Ethnicity is irrelevant to Jewish identity, according to Jewish law. Education has been the crucible of Judaism throughout the millennia, and the development of Jewish faith schools is one of Anglo Jewry’s greatest achievements.” Sharper-than-expected U.K. factory gate price deflation in June signals a period of below-target consumer price inflation over the coming months, suggesting the Bank of England still has more work to do. Output producer prices fell 0.2% on the month in June and by 1.2% on the year, the Office for National Statistics said Friday. Economists had forecast a 0.3% monthly increase and a 0.8% annual decline. That was the first monthly decline since November last year and compared with a 0.4% rise in May. In annual terms, it was the second straight yearly fall and the sharpest drop since December 2001 when it also fell 1.2%. ONS said the drop was last greater in November 2001 when it fell 1.5%. The data compare with a 0.3% fall on the year in May. The ONS also said annual producer output price inflation has been slowing for 11 straight months in June from a peak of a 10.8% in May last year. UK June Input PPI rises 1.5%; collapses 11.0% YoY.
***** CHINA Domestically made auto sales up 36% yoy. JAPAN Japanese consumers became less pessimistic about the nation's economy over the past three months for the first time in two years, a Bank of Japan survey released Wednesday showed, adding further evidence to claims that the nation's economy has hit bottom. The consumer sentiment diffusion index of the BOJ's household survey of economic conditions for June came in at minus 81.4, slightly higher than minus 88.9 its record low - in the previous survey for March. The latest reading marked the first improvement since June 2007. Japan June Corp Bankruptcy Cases Up 21.5% On Year. Japan's June CGPI fell 6.6% yr/yr, higher than the expected -6.4%. On the month it was down 0.3%, once again higher than the forecast -0.1%. USDJPY up 5 pips. MEXICO Across Mexico, desperation is increasing among the millions of families who depend on money sent home by relatives in the United States. With many immigrants out of work because of the recession and stepped-up immigration enforcement, those money transfers suffered an unprecedented drop in May, falling nearly 20 percent from a year earlier to $1.9 billion, according to Mexico's central bank. The consequences have been particularly devastating in rural towns such as Pacula that are known as "pueblos fantasmas," or ghost towns, because so many men have left to work in the United States, often illegally. AUSTRALIA AND NEW ZEALAND Australia's Department of Employment said Wednesday that its leading indicator of employment has fallen to a negative 0.788 in July from a negative 0.748 in June. That was the 19th consecutive monthly fall, confirming a slowdown in the pace of employment growth below a downwardly revised long-term trend of 2.1% a year. The number of housing-finance approvals in Australia rose a seasonally adjusted 2.2% in May from April, the Ausralian Bureau of Statistics said Wednesday. An index of consumer sentiment in Australia rose 9.3% in July from June to reach its highest level since December 2007, as shoppers' spirits were lifted by government cash handouts, upbeat views on the domestic economy and still-resilient employment levels. The index rose to 109.4 points in July in seasonally adjusted terms from 100.1 points in June, compilers Westpac Banking Corp. and the Melbourne Institute said in a statement. In annual terms, the consumer sentiment index rose a seasonally adjusted 38.5% in July. In trend terms, the index rose 5.4% from June, contributing to a 25.7% annual increase. HEALTH HOW TO DROP CHOLESTEROL UNDER 200 (PART 1)
If you are among the 107 million in the US with cholesterol over 200 you will want to know how YOU can naturally drop your cholesterol level to under 200 within a year. Just think of it, no more cholesterol drugs, no more jabs to the arm to analyze your blood fats, no more time lost with expensive office visits, no more risk to your liver with toxic drugs and you feel better with less anxiety about heart disease. If the Asians can have cholesterol levels below 100 because of their diet, so can you. THE BIG PICTURE Because of unhealthy lifestyle choices we live with the threat of cardiovascular collapse, liver failure and other health problems. There are approximately over 98 million Americans with cholesterol levels of 200. Over a third of these individuals (38 million) have levels of 240 or higher placing them in the high risk category. More women over 45-years-of-age have higher cholesterol levels than men. We are making the manufacturers of cholesterol drugs wealthy with 30 million prescriptions written each year at the tune of $20 billion. The number one drug sold ($10 billion) is a statin drug – Lipitor. Why? The other number one statin drug, Baycol, was taken off the market due to toxic and deadly effects. Doctors know that lifestyle changes (with no drugs) will lower cholesterol by at least 40%. So, that would mean if your cholesterol level was 240 and you made some healthy changes to your diet you could lower your cholesterol to 144 or lower. The Asians have average blood cholesterol levels of less than 95 mainly due to their diet, which contains low animal fat. CHOLESTEROL MUG SHOT What is cholesterol really? Our villain has a yellow, waxy makeup often described as fat. It likes to hang around your blood and as it multiplies it deposits itself on the main arteries flowing through your body. When you get enough cholesterol loitering about it gangs up to narrow the passages and can even create a road block shortening your route to heart failure. Of course we are describing the evil twin known as LDL cholesterol. The trick is to root out the LDL properties while keeping the good, HDL cholesterol. SOME STUDIES Dr. Daniel Steinberg at the University Of California School Of Medicine says there is a way to slow atherosclerosis by 70% and even reverse it. Medicine likes to do this by pumping up the HDL cholesterol, which is supposed to help reduce the LDL cholesterol. It is extremely important to have a healthy liver if you intend to accomplish this. In order to destroy the bad cholesterol the liver cannot be sick in order to remove cholesterol toxins. Dr. Steinberg recommends eating foods with antioxidants to prevent LDL cholesterol. BEAN POWER Some of the foods, which can help you accomplish your goal are dried beans (known as nature’s cheapest fix to reducing cholesterol). According to Dr. James Anderson of the University Of Kentucky College Of Medicine, by eating a cup of cooked dried beans each day it helps suppress LDL cholesterol by 20%. How fast will this happen? About 3 to 4 weeks. What kind of beans? All kinds seem to work; navy, black, pinto, kidney, lentils, chickpeas and soybeans. Eating beans will also boost up the HDL cholesterol to help protect you from congested arteries. WHAT ABOUT OATS?
I think everyone has seen the box of Cheerios® and other breakfast cereals stating that oats help lower cholesterol. Recently the FDA informed manufacturers promoting oats as a heart aid to cease and desist. There have been over 25 studies on the healing power of oats. According to Dr. Michael Davidson of cardiology at RushPresbyterian St. Luke Medical Center in Chicago it takes about 1 cup of dried oats to produce a 16% reduction in LDL cholesterol. How does this work? Dr. Davidson reports that it is the beta glucans (a fiber) that blocks bad cholesterol production and helps remove bad cholesterol that is pre-existing in the blood. Of course you don’t want to eat beans and oats along with your fast food and expect to improve your cholesterol levels. A healthy lifestyle is required. Also, you will want to get a quality oat and prepare it correctly or your results will vary. I like to use organic, rolled oats. I add them to bran muffins or eat it as a cereal. When I prepare oats as a cereal I boil a pot of water, I add 1 cup of oats, cover and remove from heat. I let the oats soak in the boiled water for 3 to 4 minutes. Anytime over 5 minutes will make the oats sticky. Therefore, you just want to tenderize the oats not cook them into a gluey, sticky mess that will reduce the nutrition and hinder digestion. THE PERFECT HERB Is there an herb to help fight bad cholesterol? You betcha! Garlic is awesome and there have been over 20 studies done on the power of garlic to help fight high cholesterol. Dr. Robert Lin, chairman of International Health, reports that 3 cloves of garlic per day helps to reduce cholesterol by 10 to 15%. A controlled study at LTM Medical College in Bombay showed that 50 subjects reduced their cholesterol by 15% and improved their blood clot factor by eating 3 cloves of garlic daily. Bastyr College in Seattle used garlic oil and produced a 7% reduction in cholesterol. What about onion? Onion is cousin to garlic and Dr. Victor Gurewich of Harvard Medical School reports that ½ cup of raw onion increases good HDL cholesterol by 30%. The study showed that raw onions had more benefit than cooked. So, if you pair the garlic and onion together in your lifestyle you will block the production of bad cholesterol and increase the good cholesterol. ANOTHER ALLY It is always good to have allies. You will want to call on your good ally omega-3 fatty acid. Fatty fish such as your salmon and mackerel contain the fatty acids you will need to fight bad cholesterol and improve good cholesterol by 10%. A study done by Dr. Gary Nelson of the US Dept. of Agriculture Western Human Nutrition Research Center in CA found that by eating as much as a pound of salmon daily had a dramatic effect in cholesterol levels in just 20 days. Of course the average person isn’t going to eat a pound of salmon a day but eating some salmon, or tuna or some herring or sardines several times a week will provide the omega-3 fatty acids to boost the good HDL cholesterol to protect your health. If fish doesn’t appeal to you stock up on olive oil to cut the level of bad cholesterol and boost good cholesterol. Many studies have discovered that olive oil is superior to corn, soybean, safflower and sunflower oils. Dr. Steinberg found that olive oil defeats toxic oxidation of the LDL cholesterol and researchers from Israel agreed. Olive oil will also reduce the negative effects of fatty foods protecting your arteries from becoming clogged. PROTECT YOURSELF Protect yourself with a healthy lifestyle and make sure you cleanse the organs of toxins twice a year. A liver cleanse will be necessary if cholesterol is a problem and it is a good preventative measure for all kinds of disease. Before you cleanse the liver it
is important to have cleansed the bowel opening up the elimination channel so that the liver (and gallbladder) can purge toxins and regenerate. Use Milk Thistle herb to help the liver regenerate quickly and Barberry bark to cleanse the gallbladder. You will also need fresh citrus and virgin olive oil to do a proper liver and gallbladder cleanse. To help strengthen the cardiovascular system use herbs designed to balance blood pressure, help purge the blood of existing cholesterol and plaque and strengthen the heart muscle. Look for Heart/Cholesterol/BP herb liquid formula and Celtic Sea salt (will not promote high blood pressure) at Apothecary Herbs. For more information on organ cleansing and the tools you will need call the experts in organ cleansing, call Apothecary Herbs 866-229-3663, International 704-875-8010 online http://www.thepowerherbs.com. EMERGENCY ALERT!! The WHO has upgraded their pandemic alert for the swine/bird flu to level 6. If you haven’t gotten your Pandemic Kit from Apothecary Herbs now is the time. UPGRADED PANDEMIC KIT – Call Apothecary Herbs 866-229-3663, International 704-875-8010 or http://www.thepowerherbs.com each kit contains 8 products for 2 adults for 10-day pandemic in a handle travel case for just $175.00. Use does by weight for children, see instructions. CUSTOMIZED YEAR’S SUPPLY OF HERBAL MEDICINE – Stock up with over 90 products designed to protect your immune system, cleanse the body and address what ails you. NOW SAVE 15% on this package with the STIMULUS DISCOUNT. Call Apothecary Herbs 866-229-3663, International 704-875-8010 http://www.thepowerherbs.com. Or ask about ordering a customized Year’s Supply for your particular family needs. EXTRA HEART ATTACK PREVENTION In addition to the heart strengthening therapies above, while you have some extra prevention on hand for the onset of a heart attacks. For a combo of five potent formulas in a handy carry pack for emergencies especially when you can’t get medical attention - look for the Heart Attack Pack (just $99.00) at Apothecary Herbs http://www.thepowerherbs.com 866-229-3663, International 704-875-8010. OUR VERSION OF THE ECONOMIC STIMULUS – Apothecary Herbs is offering 15% off your total order before shipping when you print off your shopping cart order online or fill out the catalog order form and mail in your order with your check or money order. Get prepared, healthy and save – what could be better than that? International orders can send an International Money Order and save 15%. Apothecary Herbs, P.O. Box 918, Huntersville, NC 28070 USA. SURVIVAL ITEMS – STAND-UP FOOD POUCHES (NOW SAVE 15% CALL NOW) Order your convenient and compact, dehydrated food in the stand-up pouch for food emergencies or recreational camping. Light weight food pouches have a long shelf life, are easy to store for your rainy day food shortages and don’t cost a lot to ship. We have several meals to choose from in single and double serving sizes to avoid waste. Mix and serve in the stand-up pouch and avoid the need for extra utensils and cleanup. Order single serving or double serving meals by the case and for a hot meal, don’t forget the reusable Flameless Oven for just $13.00. Call Apothecary Herbs 866229-3663, International 704-875-8010 or order online http://www.thepowerherbs.com.
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***** From a Fellow Subscriber: For the subscriber with the toenail infection tell him to try vinegar, we use apple cider vinegar, it works on infections, cured my daughters wart and athletes foot. Trying it now for their allergies taken internally it is suppose to provide relief, no conclusion yet for allergies. For the athlete’s foot we found a flat Tupperware container that fit the foot. Place the foot in the container and fill with vinegar until it covers the foot. Soak for 5 – 10 minutes 2 - 3 times a day. Do not throw out the vinegar, set the container aside for the next use. Discard when healed. Vinegar can burn if exposed to the skin for a long time. We put some on gauze and used a bandage to hold it on a wart overnight and after the second night it started burning the skin. There are many other uses for vinegar. ***** I have no way of verifying if this is valid information but it is worth checking out before taking any vaccine. Boy this is scary. Andy VACCINE HORROR From Neurosurgeon Russell Blaylock, M.D. Neurosurgeon Russell Blaylock, M.D. wrote a new, more horrifying event is soon to take place that will potentially kill thousands and cripple tens of millions more. He says a new vaccine has been created using an immune adjuvant called squaline, that has been shown to produce devastating neurological injuries in animals and has been strongly linked to the Gulf War syndrome and the 200% increase in the fatal disease ALS in soldiers receiving the anthrax vaccine. Here is the information he sent: <
http://www.mpwhi.com/the_truth_about_the_flu_shot.pdf > http://www.mpwhi.com/the_truth_about_the_flu_shot.pdf He says the information is critical, so please pass it on. Dr. Blaylock is the author of Excitotoxins: The Taste That Kills and the Blaylock Wellness Report: < http://www.russellblaylockmd.com/ > www.russellblaylockmd.com He is also a specialist in bioterroism. Below is more information on the subject. Canada is to vaccinate the entire population. You can be sure America is going to be next. It's not if but when. *Mass vaccinations will be administered in Norway November 2009 - H1N1 possibly containing deadly H5N1 strain **see:* < http://www.youtube.com/watch?v=gkj2BU9oxXo > http://www.youtube.com/watch?v=gkj2BU9oxXo Dr. Blaylock wrote this article on Gulf War Illness and vaccinations: < http://www.rense.com/general67/vacc.htm > http://www.rense.com/general67/vacc.htm He also discusses vaccines in detail in Health & Nutrition Secrets to Save Your Life, < http://www.russellblaylockmd.com/ > www.russellblaylockmd.com The Antrax vaccine given to the troops was not approved by the FDA. Dr. Michael Friedman, acting FDA Commissioner at the time simply said to use it. Friedman, you may remember defended Monsanto on 60 Minutes when Dr. John Olney made world news on aspartame and brain tumors in 1996. He became Vice President of Searle a few years later at about a half a million a year. What a reward. I told him the FDA didn't need a revolving door any more; they could build a bridge to take up the traffic. In the case of ALS or Lou Gehrigs this also can be triggered by aspartame, which interacts with vaccines. Talk about a double whammy. Dr. James Bowen has Lou Gehrigs from aspartame and he is quoted in this article I wrote about it: < http://www.wnho.net/aspartameandgulfwar.htm > http://www.wnho.net/aspartameandgulfwar.htm Aspartame interacts with toxins. It causes chemical hypersensitization. In a conversation with Dr. Bill Deagle he said he considered aspartame more dangerous than depleted uranium because of its ubiquitous nature in food. Vaccines are discussed in Dr. H. J. Roberts new book just published, "A Manifesto For American Medicine". < http://www.sunsentpress.com/ > www.sunsentpress.com He talks about the widespread concern over this issue among American parents and says: "These are the current facts: (a) the Centers for Disease Control and Prevention recommend that children receive 28 doses of vaccine (for 14 diseases) by the age of two...more than double the number required in the 1970s; (b) 77 per cent of kindergartners have completed their immunization; and (C) children between the ages of birth and seven will receive 47 doses of vaccines -- and 67 or more by the age of 18 - if the current vaccination schedule of the Advisory Committee on Immunization Practices of the CDC is followed." He says further, "The justification for this practice is reinforced by a major societal consideration referred to as the herd-immunity effect. It conveys the belief that a highly immunized population is more likely to resist penetration by serious pathogens. The magnitude of the issue is reflected by the estimated 5,000 families with autistic children seeking damages from a federal program to compensate for alleged harm caused by vaccines." Consider also aspartame triggers autism. Today children don't have a chance. Imagine how these amounts of vaccines destroy the children's immune system before
they get into school. Then pediatric vitamins, over-the-counter drugs and prescription drugs have aspartame in them. Particularly important about flu shots and Alzheimer's: Dr. Russell Blaylock MD has issued the following warning concerning this and other toxic metals in vaccines: "The aluminum and the mercury used in vaccines are significant neurotoxins, which play a major role in all neurological disorders. It is also important to remember that both of these metals accumulate in the brain and spinal cord. This makes them much more dangerous than rapidly excreted toxins. Numerous studies have shown harmful effects when aluminum accumulates in the brain, including Alzheimer's disease and possibly Parkinson's disease and ALS (Lou Gehrigs disease). This may also explain the ten-fold increase in Alzheimer's disease in those receiving the flu vaccine five years in a row." In the case of Gulf War Illness the troops never had a chance. Between vaccines, aspartame and depleted uranium friendly fire killed more than the enemy. From Dr. Blaylock's book, "Health and Nutrition Secrets to Save Your Life": "So in the case of diet drinks in aluminum cans, the very toxic brain aluminum fluoride compound co-exists with multiple toxins found in aspartame, thus creating the most powerful government-approved toxic soup imaginable. With the strong association between aluminum, excitotoxins, aluminum fluoride complexes and Alzheimer's disease, it would be completely irresponsible to encourage people to consume this toxic mixture." The troops discussed how these diet drinks sat on pallets for as long as 9 weeks in the hot Arabian sun, and they drank them all day long. Aspartame breaks down at 86 degrees or moderate temperature. The methyl alcohol breaks down to formaldehyde. The entire molecule breaks down to diketopiperazine, a brain tumor agent. Meanwhile they were vaccinated. Add a bit of depleted uranium. With this information you can now understand Gulf War Illness in full. If anyone tries to rebut the issue of vaccines being dangerous, ask them to explain these references: < http://www.mpwhi.com/references_proving_vaccines_are_deadly.htm > http://www.mpwhi.com/references_proving_vaccines_are_deadly.htm Dr. Ken Stoller, pediatrician and founder of the New Mexico Aspartame Detox Center, tried to have mercury removed from vaccines in New Mexico. It's a battle against industry when everyone knows mercury is poison. He lectures on aspartame and vaccines and autism. We testified before the Senate and House in New Mexico trying to get aspartame banned, a bill sponsored by Senator Gerald Ortiz y Pino. Stephen Fox, Mission Possible New Mexico worked tirelessly on this effort. Dr Stoller told the Senate: "How are we going to get anywhere with you sitting here drinking Diet Coke, but at least have mercy on the children." They didn't and the capital was saturated with lobbyists, front groups and those assisting industry to keep this poison on the market. The horror stories on vaccines are endless but here is the worst. My friend Julie Kelly's son, Bryant, was waiting to see a physician at the VA Hospital. He sat at a physician's desk and read a letter. Shocked at the contents he took the letter home and showed it to Julie. A physician went to Africa to vaccinate children, and they died. The doctor did an analysis on the vaccine and found the AIDS virus. The MD at the VA had written back the children were going to die anyway from starvation. It may be hearsay but she saw the letter and it's a scary situation. It makes me think of Psalm 37:12-14: "The wicked one is plotting against the righteous one. At him he is grinding his teeth. Jehovah himself will laugh at him. For he certainly sees that his day will come. The wicked ones have drawn a sword itself
and have bent their bow to cause the afflicted and poor one to fall, to slaughter those who are upright in their way." In the news only today on Africa and vaccinations: < http://www.theoneclickgroup.co.uk/news.php?start=2740&end=2760&view=yes&id=35 57#newspost > http://www.theoneclickgroup.co.uk/news.php?start=2740&end=2760&view=yes&id=35 57#newspost A movie on the subject is "Constant Gardener". . When the New World Order was first announced years ago it included the necessity to depopulate the world. Nobody can say they didn't warn of what they were intending. They were right up front with the information. I live in Atlanta, Georgia and 100 miles from me, in Elberton, Ga, the Georgia Guide Stones were erected in 1980. Four gigantic granite slabs in which are cut Guides for a better world in eight languages. The first "Guide" is: Maintain Earth's population at 500 million, in perfect balance with nature. There are 13 times those numbers now, so someone wants to kill off 92% of humanity. 75 miles in the other direction, in Madison County, Ga half a million plastic burial vaults wait for corpses. Cemeteries in Houston, Phoenix and Newcastle California have thousands of concrete burial vaults side-by-side, empty and waiting. Google Georgia Guidestones & Mass Graves to confirm. Now consider the two killers, aspartame and vaccines, which even interact. If the plague of aspartame disease by itself is not horrific enough, today they are constantly adding this toxin to the very drugs used to treat the problems it causes. As an example, headache is #1 on the FDA list of 92 symptoms. Merck makes Maxalt for headache and adds aspartame. So a small study was done on aspartame and Maxalt, which shows using this drug, makes headaches worse. Merck refuses to remove it. Consider aspartame can precipitate Parkinson's and interacts with L-dopa. So they made Parcopa and added aspartame. Schwarz Pharmaceuticals refuses to remove it: < http://www.wnho.net/schwarz_pharma_letter.htm > http://www.wnho.net/schwarz_pharma_letter.htm Please read "The Truth About the Flu Shot by Dr. Tenpenny, Dr. Blaylock has sent. < http://www.mpwhi.com/the_truth_about_the_flu_shot.pdf > http://www.mpwhi.com/the_truth_about_the_flu_shot.pdf Forward these reports to all your lists, to physicians who can educate thousands, send it to loved ones, office employees and anywhere you can save a life. It should also be translated in other languages. Dr. Leonard Coldwell sent this report from a Dr. King: We should all be more concerned about the 25 MILLION doses of LIVE-VIRUS vaccine that MedImmune is making BECAUSE it will give ALL who are inoculated with it a "case" of the "swine flu" as well as, through "shedding" the live virus in many instances will cause a secondary infection and infect the non vaccinated since the livevirus recipients are not required to self-quarantine. Do you remember that in 1976" the swine flu campaign? It was a fiasco causing death and permanent debility. They had to stop the vaccine program in its tracks after 3 weeks of injury. . This may sound strong, but essentially to deploy Live-Viruses, MedImmune and the CDC/FDA will be guilty of participation in the manufacture and deployment of a bioterrorism agent!
Pregnant women, who are carrying the next generations of Americans are particularly at risk. The CDC pushes the annual flu shot on pregnant women without discriminating between Thimerosal (mercury) and Thimerosal-free. It was the Thimerosal in the Rhogam shot that caused women to give birth to autistic children. The manufacturer, on their own, removed Thimerosal from the vaccine. RH negative Rhogam recipients was a minor demigraphics. NOW THE ENTIRE POPULATION OF PREGNANT WOMEN stand to get injected with mercury from the annual flu shot as well as the swine flu vaccine. AND furthermore, stand susceptible in getting the flu infection from those who receive the LIVE VIRUS VACCINE and are shedding for a few weeks. NO manufacturer will be held "liable" for the harm caused by this untested vaccine under the "Bioterrorism 3" provisions. FLU VACCINE RECOMMENDATIONS FOR ALL PREGNANT WOMEN (CDC) The Advisory Committee on Immunization Practices (ACIP): Vaccination of pregnant women is recommended by the Centers for Disease Control Advisory Committee on Immunization Practices (ACIP). < http://www.cdc.gov/vaccines/pubs/vis/default.htm#flu > http://www.cdc.gov/vaccines/pubs/vis/default.htm#flu FDA approved manufacturers package insert: Manufacturers warnings Sanofi Pasteurs Fluzone package insert, WARNING http://www.vaccinesafety.edu/package_inserts.htm>www.vaccinesafety.edu/package_i nserts.htm 8.1 Pregnancy Category C: Animal reproduction studies have not been conducted with Fluzone vaccine. It is also not known whether Fluzone vaccine can cause fetal harm when administered to a pregnant woman or can affect reproduction capacity. Fluzone vaccine should be given to a pregnant woman only if clearly needed. 8.2 Nursing Mothers: It is not known whether Fluzone vaccine is excreted in human milk. Because many drugs are excreted in human milk, caution should be exercised when Fluzone vaccine is administered to a nursing woman. 13.1 Carcinogenesis, Mutagenesis, Impairment of Fertility: Fluzone vaccine has not been evaluated for carcinogenic or mutagenic potential, or for impairment of fertility. NOTE: CDC does not require providers to inform pregnant women of the Thimerosal (mercury) content. Regards, Dr. KingDr Leonard Coldwell Board Certified NMD DNM PHD LCHC CNHP DIP.PHC < http://www.drleonardcoldwell.com > www.drleonardcoldwell.com www.instinctbasedmedicine.com After reading this I couldn't help but remember a trip to Italy a couple of years ago. We spent the afternoon with a couple on back to back cruises. They mentioned before leaving they both got the flu shot. I said, "It can give you the flu!" The lady replied, "As a matter of fact on the first cruise we did both suffer the flu, and we would never tale the shot again, but you're safe because we are over it." By the time we reached Atlanta both of us also had the flu. So take the above report seriously. To show you the grave circumstances consider that a journalist has filed charges against WHO and the UN for Bioterrorism and Intent to Commit Mass Murder. < http://www.naturalnews.com/z026503_pandemic_swine_flu_bioterrorism.htm > http://www.naturalnews.com/z026503_pandemic_swine_flu_bioterrorism.htm Virologist Bill Deagle, MD was approached by the CIA a few years ago wanting his help to develop a weaponized flu, and weaponized vaccine for population control
purposes. After pouring over their documents he REFUSED to help them and at risk to his life became a WHISTLEBLOWER. He has been working very hard via his website, radio show, and articles to alert all Americans to refuse the coming mandatory swine flu vaccine. < http://www.youtube.com/watch?v=5SvxwvWHTsA > http://www.youtube.com/watch?v=5SvxwvWHTsA Unfortunately 80% of the population will be like lambs to the slaughter rolling up their sleeves because they were told to do so. Please become educated on the issue to save your life and help to educate others by spreading far and wide. The FDA who has betrayed the public trust has shown their loyalty is only to industry. They have actually threatened to seize all natural products that dare to mention H1N1 Swine Flu. Dr. Betty Martini, D.Hum, Founder Mission Possible International 9270 River Club Parkway Duluth, Georgia 30097 770 242-2599 <http://www.mpwhi.com/ >www.mpwhi.com, www.dorway.com and <http://www.wnho.net/ >www.wnho.net Aspartame Toxicity Center, < http://www.holisticmed.com/aspartame > www.holisticmed.com/aspartame ***** SCHEDULED ISSUES Wednesday, July15, 20009 Saturday, July 18, 2009
Wednesday, July 29th, 2009 NOTICE – NOTICE – NOTICE There will NOT be an issue of the FORECASTER on SATURDAY, July 25, 2009
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