Stock Market SELL OFF -186!!! – The Bernanke Rally Is Already Collapsing! (BIG BOYS GETTING OUT)

If you thought gold was bad, look at silver – down 5.7%
http://www.businessinsider.com/gold-is-getting-slammed-20-2013-9
Gold And Silver Battered By Bullard’s Bernanke Rebuttal

http://www.zerohedge.com/news/2013-09-20/gold-and-silver-battered-bullards-bernanke-rebuttal
Ben Bernanke Continues To Crush It As Most Hedge Funds Underperform: Complete Hedge Fund Performance Update
http://www.zerohedge.com/news/2013-09-20/ben-bernanke-continues-crush-it-most-hedge-funds-underperform-complete-hedge-fund-pe
The Bernanke rally is already collapsing
http://www.businessinsider.com/the-bernanke-rally-is-already-collapsing-2013-9
Stocks Fall: Here’s What You Need To Know
http://www.businessinsider.com/stocks-fall-heres-what-you-need-to-know-2013-9
First comment from there:
Given the rally on Bernanke’s comments on Wednesday and the sell off on Bullard’s toady, anyone who still claims that stocks are trading based upon fundamentals now looks like a complete idiot.
Dow Slumps Most In 3 Weeks; Erases All Fed Gains
http://www.zerohedge.com/news/2013-09-20/dow-slumps-most-3-weeks-erases-all-fed-gains
The days of easy money may be over
Commentary: New indicator says the time to sell is here
http://www.marketwatch.com/story/the-days-of-easy-money-may-be-over-2013-09-20?siteid=rss

BlackBerry says it will fire 4,500 employees, lost nearly $1 billion last quarter, stock collapses 20%!
http://www.businessinsider.com/blackberry-cutting-4500-jobs-2013-9
http://www.businessinsider.com/blackberry-shares-halted-2013-9

Luis

Hundred-Thousand Investors Told “Sorry, We Can’t Pay You” Just the Beginning?

By Michael Lombardi, MBA for Profit Confidential
Major cities across the U.S. economy are struggling. Yes, we saw great cities like Detroit go bankrupt. But don’t for a second believe it’s all over. The reality is we will have more situations like Detroit.
Take the City of Los Angeles, for example. In his budget proposal to the city council, the mayor of the city, Antonio Villaraigosa, said Los Angeles will have a budget deficit of $216 million in the current fiscal year. (Source: City of Los Angeles, April 20, 2013.)
But Los Angeles isn’t the only problem city in California. When I look at San Francisco, it shows even more trouble for the municipal bonds market. The city’s controller says the budget deficit will increase from $283 million last year to $829 million by fiscal 2015/2016. (Source: City of San Francisco, Office of the Controller web site, last accessed September 16, 2013.)
Minneapolis, Minnesota was downgraded by Moody’s Investors Service recently. This puts the city’s $679 million worth of general obligation municipal bonds on the line. (Source: Moody’s Investors Service, July 29, 2013.) A couple of the reasons for the downgrade by Moody’s were that property values in the city have declined and it has a pension liability of 4.3 times the operating revenue it received in fiscal 2012!
Risks are growing in the municipal bonds market. Let’s not forget: in Detroit, over 100,000 municipal bond investors were told, “Sorry, we can’t pay you.”
What we are seeing with U.S. cities sinking in debt should alarm us, but just like other crisis situations, like auto loans and student debt, no one wants to talk about it.
Municipal bonds continue to be issued at a rapid pace; in the second quarter of 2013, 8.9% more municipal bonds were issued than in the previous quarter. California, where we have been seeing a significant number of municipalities posting budget deficits, raised $13.6 billion worth of bonds in the second quarter. (Source: “Municipal Bond Credit Report,” Securities Industry and Financial Markets Association web site, last accessed September 16, 2013.)
The more I look into the municipal bonds market and how cities across the U.S. are registering budget deficits, the more I really wonder if it’s a safe place to be. My conclusion is that the municipal bonds are becoming dangerous. There are too many troubles with the cities backing the municipal bonds, which can’t be easily solved. Caution is the best option for those who are involved in the municipal bonds market.
Michael’s Personal Notes:
Last week, I attended the Toronto Resource Investment Conference, which is organized by Cambridge House International. This annual conference features companies involved in the resources sector, mainly gold bullion and silver explorers and producers.
To say the very least, the sentiment at the conference was dismal, and the “hope factor” just wasn’t there. After attending this annual conference for a few years, you tend to get an idea about what you will see and what kinds of opinions you will hear. This time was different. Attendance was way down, as were the number of gold companies exhibiting.
Those who pitched gold explorers, and gave their tips, were saying, “But you have to be really careful.” The “feeling” was gold bullion producing companies, be they senior miners or junior miners, face an anemic future ahead. And for those companies that explore for the precious metal, the “feeling” was that they will have trouble raising money.
But one thing all the speakers did agree on was that demand for the precious metal is increasing. I heard China is buying gold bullion; demand for the precious metal in India is robust; production at mints around the world is in overdrive mode; and so on. This is what I have already been writing about in these pages.
It was unusual to see the regular gold bugs actually being cautious on where the gold prices are going next. They were very clear that the damage that took place in the most recent sell-off would take some time to recover. They were concerned the price of gold bullion is being manipulated.
To me, all of this is negative sentiment—something I haven’t seen in years—is a bullish signal for gold prices. Attending the conference reminds me of what the “buy when there’s blood on the street” saying actually means.
Yes, it’s a time of elevated pessimism for gold bullion. Can it get worse? After all, we are hearing once again how The Goldman Sachs Group, Inc. (NYSE/GS) is calling for lower gold bullion prices ahead—even saying it could fall below $1,000 an ounce.
When I look at gold prices, I don’t look at daily fluctuations; I look at the big picture. When I do just that, I see the precious metal is still trending higher, as you can see in the chart below.

Chart courtesy of www.StockCharts.com

I remain bullish on gold bullion. I’m very interested to see if Goldman’s recent “sell recommendation” on gold pushes the metal’s price down again. And I like all the growing negativity surrounding gold bullion. Are we getting to the point we were at in 2001, when bearishness for gold bullion reigned? To me, these are all bullish signs.
What He Said:
“I see a deal when it’s a deal. And right now there’s a good ‘for sale’ sign flashing on gold bullion and gold producer shares. In fact, after peaking at the $690 an ounce level earlier this year, gold could be a bargain at its current price of around $650 per ounce. As a reader, you are undoubtedly aware of my negative stance on the general stock market and the U.S. economy. As the economic problems that continue to brew in the U.S., as these problems develop into others, and as they are finally exposed, what other investment but gold will worldwide investors turn to?” Michael Lombardi in Profit Confidential,March 14, 2007. Gold bullion was trading under $300.00 an ounce when Michael first started recommending gold-related investments. Many gold stocks recommended in Michael’s advisories gained in excess of 100%.

The U.S. Economy Is Close To Imploding

Having allowed a couple of days for the tidal wave of mainstream, post-“tapering” nonsense to subside; it’s now time to look at the facts, as once again The Boy Who Cried Exit Strategy got in front of microphones to say “just kidding.”
At the time that B.S. Bernanke originally began his musings now known as “tapering”; it had already been observed that the U.S. pseudo-recovery was “longer than average duration” – i.e. it was already past its expiry-date. After stalling for 4 ½ years, and failing to deliver on all his previous promises of an “exit strategy” – while the U.S. economy was relatively “strong”(?) and supposedly growing – no rational government (or central bank) would ever time the withdrawal of stimulus to coincide with the end of a growth-cycle.
“Tapering” was always a hoax.

Simply talking about tapering caused interest rates (i.e. borrowing costs) on U.S. ten-year Treasuries to nearly double; and naturally/inevitably those higher borrowing costs filtered through the entire U.S. economy. Thus in simply talking about tapering for seven months; the Banksters created so much economic “drag” on the U.S. economy that if Bernanke had actually, finally delivered on (yet another) “exit strategy” promise, it could have only been interpreted as deliberate economic suicide.
“Tapering” was always a hoax.
There is a delicious irony here. The “latest rounds of QE” – the current, $1 trillion per year of totally gratuitous U.S. money-printing – are not actually “new” money-printing at all. These infinite stacks of Bernanke-bills were being conjured into existence just as quickly before these “announcements”, it simply wasn’t being reported/declared.
It was counterfeit money, in every sense of the word. This was explained in a previous commentary. The original problem? No buyers (anywhere) for U.S. Treasuries – at “all-time record prices”. The solution? Counterfeit money.
Secretly print-up $trillions in counterfeit Bernanke-bills, and use that counterfeit money to “buy” U.S. Treasuries in auctions which (conveniently) had just been made totally opaque. Readers have seen or heard my description of the new-and-improved “Treasuries auction” previously.
A stack of Treasuries is placed on a table. The lights go out. (Sounds of paper-shuffling are heard.) The lights come back on. The stack of Treasuries is gone. “Auction” complete.
This cheap ‘magic trick’ was the Perfect Crime, and then Reality ruined everything. With the U.S. pseudo-recovery already beginning to obviously sag (in its old age); the call went out to the Fed for “more stimulus” – given the fact that the U.S. Treasury is totally empty (save for the IOU’s).
So B.S. Bernanke and Co. simply began reporting the “new money” they had already been counterfeiting previously, and presto! One $trillion per year in new, so-called “stimulus.” Now (suddenly) there was an actual “reason” for U.S. Treasuries to be improbably perched at all-time record prices – despite the fact the U.S. economy is obviously bankrupt: the Federal Reserve wasopenly monetizing all debt.
“The Truth shall set you free”? Not if you’re a central banker at the Federal Reserve. Then it’s a nasty ball-and-chain which (you discover to your horror) you can never remove.

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House Passes CR Defunding Obamacare Puts Senate In Position To Shut Government – Lou Dobbs

House Passes CR Defunding Obamacare Puts Senate In Position To Shut Government – Lou Dobbs

'All you can do is pray': What poverty in America really looks like

Damaris Alecia / Witnesses to Hunger

Boarded-up houses in North Camden, N.J., as photographed by Damaris Alecia, a single mother and participant in the "Witnesses to Hunger" project. "If they fixed this, people probably would be better and be less motivated to do bad stuff," says Alecia, who calls this photo "Negative Motivation."

By Barbara Raab, Senior Producer, NBC News
When the U.S. Census Bureau released its latest data on poverty in America earlier this week, many experts opined about the statistics and their significance. Less present in the conversation were the voices behind the numbers: the voices of the poor.
“Witnesses to Hunger,” a project of the Center for Hunger-Free Communities, a non-profit organization based at Drexel University School of Public Health in Philadelphia, seeks to change that. Launched in 2008, the advocacy and research project invites parents and caregivers of young children who have experienced poverty and hunger to document their lives through photographs and stories -- and to advocate for changes that could help break the cycle of poverty.
"Witnesses" started in Philadelphia and has since branched out to other cities, including nearby Camden, N.J. Once the proud home to companies like RCA Victor, and the biggest shipbuilding company in the world, Camden is now better known for poverty, violence and blight. According to the new Census data, the overall poverty rate in the city is 39.3 percent; more than half of Camden's children, 53.3 percent, live below the poverty line. 
This week, the photos of 10 “Witnesses to Hunger” participants in Camden, all women, are featured in a groundbreaking exhibit at an art gallery there. The participants were given point-and-shoot digital cameras and encouraged to capture images related to the health and well-being of their families and community, problems they want to change, and anything else they want the public or policymakers to be aware of regarding poverty and their lives. The images are on display at a Camden art gallery, Eleven One, through Saturday.
Damaris Alecia, a single mother, took several photos (like the one at top) documenting her frustration with the high number of abandoned, derelict buildings in Camden and the lack of decent housing options. "If [people] have affordable housing and they have heat," she says, "then maybe there would be less violence. There would be less people on the block selling drugs and stuff like that."

Kathy / Witnesses to Hunger

In this photo, called "The Search Continues," Kathy documents her frustrating search for affordable housing. "I'm on the list through Section 8," she said, "and they told me that I might not get called for three years, maybe five."

Another Witness to Hunger participant, Kathy (she declined to provide her last name), also a single mother, chose to depict what it was like to search for affordable, subsidized housing. After more than three months in a shelter with her two children, she says, she found an apartment for $850 a month, and moved in, but her social services caseworker told her she had to find housing at a lower price.
"I don't know where I'm going to find a two-bedroom for a lower price," Kathy says. "All the housing that's low-income is like a year waiting list or more." And her photo shows the response she got when she tried calling a long list of landlords: no answer. Kathy and her family now live with a relative.
Camden resident Anisa Davis was coming home from the store when she was struck by the image of three friends paying tribute to "Hollywood," a man who had been shot to death in the streets of Camden.

Anisa Davis / Witnesses to Hunger

Anisa Davis took this photo, entitled "Violence is Everywhere." Her teenage son has been caught in two shoot-outs, she says. "We had a shooting the other day and they locked the school down."

She says her 19-year-old son "has already been caught up in two shootouts. "All you can do is pray and try and keep them off these streets." She says "there are guns everywhere," and amid the "senseless murders going on in this city, I needed that picture. There was so much love on that step that day."

Tanya Smith / Witnesses to Hunger

Tanya Smith shot this image of one her family's staple foods. "Oodles of Noodles, essential," she says.

Tanya Smith photographed a box of Oodles of Noodles, "the favorite end of the month meal," she laughed, when her $200 monthly food stamps allowance is gone. "If there's nothing else, you've got the noodles."
Smith, who has been working as a secretary, says she hopes the photo exhibit will show that "people out here are really struggling. They should build more places to feed people and places to sleep."
Alecia, who photographed her two children, 5-year-old Yonell and 7-year-old Amaya, says the only way up may be out. She has applied for low-income housing in another town about 100 miles away from Camden, where she says her kids could get a better education than they're getting in Camden.
"I wish I could move," she says.

Damaris Alecia / Witnesses to Hunger

Alecia says she would like to leave Camden so her two children, Yonell and Amaya, pictured here, could get a better education.

Too Big To Fail Is Now Bigger Than Ever Before

By Michael Snyder

The too big to fail banks are now much, much larger than they were the last time they caused so much trouble.  The six largest banks in the United States have gotten 37 percent larger over the past five years.  Meanwhile, 1,400 smaller banks have disappeared from the banking industry during that time.  What this means is that the health of JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley is more critical to the U.S. economy than ever before.  If they were “too big to fail” back in 2008, then now they must be “too colossal to collapse”.  Without these banks, we do not have an economy.  The six largest banks control 67 percent of all U.S. banking assets, and Bank of America accounted for about a third of all business loans by itself last year.  Our entire economy is based on credit, and these giant banks are at the very core of our system of credit.  If these banks were to collapse, a brutal economic depression would be guaranteed.  Unfortunately, as you will see later in this article, these banks did not learn anything from 2008 and are being exceedingly reckless.  They are counting on the rest of us bailing them out if something goes wrong, but that might not happen next time around.
Ever since the financial crisis of 2008, our politicians have been running around proclaiming that they will not rest until they have fixed “the too big to fail problem”, but instead of fixing it those banks have rapidly gotten even larger.  Just check out the following figures which come fromthe Los Angeles Times…

Just before the financial crisis hit, Wells Fargo & Co. had $609 billion in assets. Now it has $1.4 trillion.Bank of America Corp. had $1.7 trillion in assets. That’s up to $2.1 trillion.
And the assets of JPMorgan Chase & Co., the nation’s biggest bank, have ballooned to $2.4 trillion from $1.8 trillion.

We are witnessing a consolidation of the banking industry that is absolutely stunning.  Hundreds of smaller banks have been swallowed up by these behemoths, and millions of Americans are finding that they have to deal with these banking giants whether they like it or not.
Even though all they do is move money around, these banks have become the core of our economic system, and they are growing at an astounding pace.  The following numbers come from a recent CNN article…
-The assets of the six largest banks in the United States have grown by 37 percent over the past five years.
-The U.S. banking system has 14.4 trillion dollars in total assets.  The six largest banks now account for 67 percent of those assets and the other 6,934 banks account for only 33 percent of those assets.
-Approximately 1,400 smaller banks have disappeared over the past five years.
-JPMorgan Chase is roughly the size of the entire British economy.
-The four largest banks have more than a million employeescombined.
-The five largest banks account for 42 percent of all loans in the United States.
As I discussed above, without these giant banks there is no economy.  We should have never, ever allowed this to happen, but now that it has happened it is imperative that the American people understand this.  The power of these banks is absolutely overwhelming…

One third of all business loans this year were made by Bank of America. Wells Fargo funds nearly a quarter of all mortgage loans. And held in the vaults of JPMorgan Chase is $1.3 trillion, which is 12% of our collective cash, including the payrolls of many thousands of companies, or enough to buy 47,636,496,885 ofthese NFL branded toaster ovens. Thanks for your business!

A lot of people tend to focus on many of the other threats to our economy, but the number one potential threat that our economy is facing is the potential failure of the too big to fail banks.  As we saw in 2008, when they start to fail things can get really bad really fast.
And as I have written about so many times, the number one threat to the too big to fail banks is the possibility of a derivatives crisis.
Former Goldman Sachs banker and best selling author Nomi Prins recently told Greg Hunter of USAWatchdog.com that the global economy “could implode and have serious ramifications on the financial systems starting with derivatives and working on outward.” You can watch the full video of that interview right here.
And Nomi Prins is exactly right.  Just like we witnessed in 2008, a derivatives panic can spiral out of control very quickly.  Our big banks should have learned a lesson from 2008 and should have greatly scaled back their reckless betting.
Unfortunately, that has not happened.  In fact, according to the OCC’slatest quarterly report on bank trading and derivatives activities, the big banks have become even more reckless since the last time I reported on this.  The following figures reflect the new information contained in the latest OCC report…
JPMorgan Chase
Total Assets: $1,948,150,000,000 (just over 1.9 trillion dollars)
Total Exposure To Derivatives: $70,287,894,000,000 (more than 70 trillion dollars)
Citibank
Total Assets: $1,306,258,000,000 (a bit more than 1.3 trillion dollars)
Total Exposure To Derivatives: $58,471,038,000,000 (more than 58 trillion dollars)
Bank Of America
Total Assets: $1,458,091,000,000 (a bit more than 1.4 trillion dollars)
Total Exposure To Derivatives: $44,543,003,000,000 (more than 44 trillion dollars)
Goldman Sachs
Total Assets: $113,743,000,000 (a bit more than 113 billion dollars – yes, you read that correctly)
Total Exposure To Derivatives: $42,251,600,000,000 (more than 42 trillion dollars)
That means that the total exposure that Goldman Sachs has to derivatives contracts is more than 371 times greater than their total assets.
How in the world can anyone say that Goldman Sachs is not being incredibly reckless?
And remember, the overwhelming majority of these derivatives contractsare interest rate derivatives.
Wild swings in interest rates could set off this time bomb and send our entire financial system plunging into chaos.
After climbing rapidly for a couple of months, the yield on 10 year U.S. Treasury bonds has stabilized for the moment.
But if that changes and interest rates start going up dramatically again, that is going to be a huge problem for these too big to fail banks.
And I know that a lot of you don’t have much sympathy for the big banks, but remember, if they go down we go down too.
These banks have been unbelievably reckless, but when they fail, we will all pay the price.

Ron Paul ~ It’s The Monetary System We Need To Deal With Not The Particular Manager

Poverty Rate Reveals Just How Little the Fed’s Helping Main Street

By John Whitefoot for Daily Gains Letter
After five years of pumping trillions into the U.S. economy, the average American really is no better off than before the Federal Reserve initiated its unprecedented economic stimulus efforts. This is in spite of Federal Reserve chairman Ben Bernanke’s claims that the Fed’s efforts at encouraging U.S. economic growthare helping Main Street more than Wall Street.
Bernanke may claim to be focused on helping the average American, but the U.S. economic numbers suggest his steely gaze is trained elsewhere. For example, even though unemployment numbers improved from 7.4% in July to 7.3% in August, the vast majority of those jobs were created in low-wage-paying industries. On top of that, more and more have given up looking for work and are no longer considered unemployed, so they’re removed from the equation. Voila, better numbers.
What about housing prices? While a slightly improving U.S. economy has lifted housing prices 13% over the last year and a half, they’re still down 25% from their 2007 pre-Great Recession highs. It’s also important to remember that any increase on the back of an improving U.S. economy, while a welcome sign, is only on paper.
At the same time, 7.1 million homes, or 14.5% of all residential properties with a mortgage, still have negative equity. Of the 41.5 million residential properties with positive equity, one quarter (10.3 million) have less than 20% equity. Borrowers with less than 20% equity could have a difficult time getting new financing. Interestingly, 1.7 million residential properties have less than five percent equity, meaning they are at risk of negative equity if the markets turn and home prices slide. (Source: “CoreLogic Equity Report: Second Quarter 2013,” CoreLogic web site, September 16, 2013.)
While the S&P 500 has improved 150% since March 2009, U.S. poverty rates have not fared as well. In 2007, before the Great Recession, the U.S. poverty rate was 12.5%; over the ensuing five years, it would soar 20%. In 2009, at the start of the Great Recession, the U.S. poverty rate was 14.3%. In 2012, about 46.5 million, or 15% of Americans, were living in poverty in 2012, slightly more than the 46.2 million living in poverty in 2011.
While an unabashed optimist would say the poverty rate held steady at 15% for two years, I think a realist would say it’s been stuck at 15% for the second straight year. According to the United States Census Bureau, income gains made after the recession ended in 2009 have gone to the top five percent of earners; those in the bottom 80% are making considerably less. (Source: “Income, Poverty and Health Insurance Coverage in the United States: 2012,” U.S. Census Bureau web site, September 17, 2013.)
Sadly, the U.S. economy has been in recovery mode for almost five years, and despite the trillions of dollars in economic stimulus, more Americans are actually worse off. Unless jobs, housing, and poverty levels are indicative of an improving U.S. economy and the Federal Reserve looking out for Main Street more than Wall Street, then things are not going according to plan.
Instead of looking at companies that provide products and services people want, it might be a better idea to consider those companies that provide products and/or services people need, such as a utility exchange-traded fund (ETF) like Utilities Select Sector SPDR (NYSEArca/XLU)
It may not be popular right now, but with the U.S. economy on dubious footing, it’s a good idea to keep precious metal ETFs on your radar, like the Power Shares DB Precious Metals(NYSEArca/DBP) ETF.
Despite the so-called improving U.S. economy, investors looking to add depth to their retirement portfolio might want to do the opposite of what the Federal Reserve is implying.

This Time Around the Fed IS The Bubble

by Phoenix Capital Research

Market tops always involve insanity. And today we have that in abundance.
On Wednesday the Fed surprised the world by not announcing a QE taper. Stocks and all “risk” assets exploded higher. Today, a mere 48 hours later, Fed President Bullard says the Fed should taper soon. Stocks collapse.
For the markets to react so significantly to such issues is a tell-tale sign that we are near a major top. The reliance on Fed stimulus has never been greater with even a hintof Fed policy actually having more impact that the policy itself.
Rumors, whispers and threats dominate trading. This is the sign of market mania.
The most important element is that this mania has been driven by the Fed, not some new technology (the Internet in the tech bubble), new asset growth (housing), but the Central Bank.
In the past, the Fed has been the fuel for bubbles. This time around, the Fed IS the bubble itself, with its balance sheet expansion driving ALL assets higher.
So when this bubble bursts, it will be truly catastrophic because no one can bail out the Fed. Interest rates are already at Zero. QE is already running non-stop. There will literally be nothing the Fed can do.
I cannot say the top is in today, nor can I say it will be here in a week. But THE top is forming. And it will be absolutely awful when it’s done. We’ve now had three SERIAL bubbles in the markets in the last 13 years. Each bubble’s bursting has been worse than the last. The next one will be THE biggest one yet.

For more market insights and commentary, visit us at:
www.gainspainscapital.com
Best Regards
Graham Summers

QE-3 Continues, What Is Bernanke Afraid Of? Maybe There Is A Bigger Problem Out There?

This morning, the S&P 500 Index e-mini futures (ES-U3) are trading higher by just 4.50 points to 1729.00 per contract. Yesterday, the Federal Reserve bank decided not to taper its $85 billion a month QE-3 program. Stocks, and commodities both soared higher after the announcement by the central bank. Traders and investors have to now wonder why the Federal Reserve did not begin to taper since they brought up the idea of a taper in May 2013. Can the Federal Reserve just continue to print money forever? What is Ben Bernanke afraid of? Eventually we will find out the answers to these questions.

The World’s Most Evil Corporation Issues A Dire Warning

Dave Hodges
Activist Post

Goldman Sachs is the epitome of the word “evil.” If one wants to know what the evil central bankers are up to, one only needs to pay attention to the actions of Goldman Sachs. The power elite residing inside of this country does not begin and end with the Federal Reserve; that privilege is reserved for the interrelationship between Goldman Sachs, the Federal Reserve, the corrupt World Bank and the IMF.

And now Goldman Sachs is running the European financial system into the ground as another Goldman Sachs boy, “Super” Mario Monti, has taken over Italy to finish off what is left of the Italian financial system. Monti is also the head of the European Trilateral Commission as well as a Bilderberg member.

And yet another Goldman Sachs boy is finishing off the job in Greece. It is the mission of Goldman Sachs to implode the global economy with massive debt arising from the failed derivatives market, in which the debt totals 16 times the total GDP of the planet and that debt has been passed on to the governments of the world. There is no way that any country will ever pay off this debt. The world’s financial system will be collapsed and then reorganized under the Bank for International Settlements. Goldman Sachs is merely the grim reaper in this unholy process.

The Goals of Goldman Sachs

The purpose of this article is to expose the three pronged attack, directed at the American people, by Goldman Sachs, and its partners at the Federal Reserve, the US Treasury Department, the IMF and the World Bank.

These central banker controlled institutions are engaged in a plot which is designed to accomplish the following:

• The destruction of America’s domestic economy through the introduction of derivative debt which is 16 times greater than the world’s GDP. This goal has been accomplished as evidenced by the fact that America now has more workers on welfare (101 million) as opposed to actual full-time workers (97 million).
• Setting the chessboard in such a way that WWIII is a foregone conclusion. This is near completion as the US and Israel are poised to go to war with China and Russia, over Syria and Iran, in order to preserve the Petrodollar.
• Initiating a false flag event which will culminate in martial law and the elimination to all opposition to both the coming WWIII and the imposition of a tyrannical world government as well as a one world economic system.

It is no secret that Goldman Sachs runs Wall Street. After the first bailout, Goldman Sachs cut the head off of Shearson Lehman and several other Wall Street competitors when they used their undue influence to determine winners and losers after the first round of TARP. Even Ray Charles could see that Goldman Sachs is in near complete control of our government as evidenced by the former Goldman Sachs gangsters who have run our economy into the ground (e.g., Clinton’s Secretary of Treasury Goldman Sachs’ Rubin, Bush’s Secretary of Treasury Goldman Sachs’ “too big to fail” Hank Paulson, etc.). Make no mistake about it, the introduction of the massive derivatives debt was a power consolidation move designed to collapse the economy and hand over essential control to Goldman Sachs and its partners.

History Repeats Itself

Today’s events parallel the imperialists of the early 20th century which resulted in World War I. The Wall Street-led depression of the 1930s led to the rise of political extremism and ultimately to World War II. Today, Goldman Sachs and their fellow Wall Street cronies are currently running, or dare I say ruining the global economy. The consequences are going to result in the culmination of World War III from which these same gangster banksters will profit from the buildup, the death and destruction of billions of innocent people as well as profiting from the lucrative clean up which follows every war.

The ultimate prize for the coming war will be the ruination of the planet in order that the power structure of the earth can be reinvented in a manner that not even George Orwell could have imagined. Remember, as the globalists like to say in reference to their favorite Hegelian Dialectic quote, “Out of chaos comes order.” Of course, it won’t be Goldman Sachs’ money that pays for the destruction of humanity in the coming world war. This coming war and its subsequent blood money will be your money and my money. It goes without saying that it won’t be the executives of Goldman Sachs' children who are pressed into military service and will be eventually sacrificed on the battlefields of WWIII. It will be your children and my children who will be sacrificed in the name of furthering the bottom line of the Goldman Sachs Mafia and their masters at the Bank for International Settlements. Meanwhile, the Goldman Sachs children who will be safely tucked away as the world’s final chapter plays out as we know it.

Goldman Sachs Destroying the American Middle Class

This swath of international destruction being promulgated by Goldman Sachs is also being visited upon the daily lives of the American public here at home. Courtesy of the Goldman Sachs gangsters, there are no more safe financial havens for American citizens. Your bank account, your pension fund, your investment accounts and your home mortgages are no longer safe. These collective funds are not in jeopardy because of the risk of falling victim to the failing economy as much as these funds are subject to confiscation by Goldman Sachs and its shell corporations along with the complicit support of the federal government. Most of these public officials are former Goldman Sachs employees. A clear case in point lies in what happened with MF Global.

MF Global, a shell corporation beholden to Goldman Sachs, was led to the slaughter by the former Goldman Sachs executive and former New Jersey Governor and senator, Jon Corzine. Corzine’s criminal actions directly victimized 150,000 Americans by stealing an estimated $900 million dollars of his clients’ money from their supposedly secure private accounts. There is also another $600 million missing dollars from MF Global which is still unaccounted for today. Meanwhile, Corzine avoids sharing a prison cell with Bernie Madoff by purchasing a “get-out-of-jail free card” through the sponsorship of a $35,000 per plate fundraiser for that great Wall Street puppet, Barack Hussein Obama.

And what are the government watch dogs doing to protect our money from this new generation of robber barons? The short answer is that key federal officials are actually partners with Goldman Sachs in this monumental violation of the public trust. Take Gary Gensler, a former Goldman Sachs executive partner, who like so many other Goldman Sachs gangsters, has been placed into a key governmental oversight position in order to protect the Goldman Sachs co-conspirators from prosecution as they continue their reign of terror upon the global economy.

Gary “the gangster” Gensler is the former Undersecretary of the Treasury (1999-2001) and Assistant Secretary of the Treasury (1997-1999) and the current director of the Commodity Futures Trading Commission. In his position at the time of the MF Global debacle, Gensler had the authority to go after Corzine for his role in the MF Global theft of customer funds and order restitution. However, Gensler has decided to protect a fellow member of the Goldman Sachs Mafia by not looking into the massive fraud and theft by Corzine and his cronies. Your tax dollars, paying the salary of federal officials, are overseeing the most massive illegal private transfer of wealth in the history of the planet. And this debt is payable to Goldman Sachs and their criminal enterprise partners.

You may not be one of the current 150,000 Goldman Sachs/MF Global victims. However, this Robin Hood-in-reverse-scenario, in which the rich are plundering what’s left of the middle class, will soon be visited upon your bank account, your home mortgages and your pensions. Whether it is the MERS mortgage fraud or the theft being perpetrated upon Federal employee retirement accounts, these criminal banksters are in the process of stealing it all and what are you going to do about it? Our nation of entrenched sheep will do nothing. The American citizens are going to lay down and take their beating in the face of the largest unfolding criminal syndicate in human history.

While you and the rest of America are trying to collectively remove your “deer in the headlight” glaze, you, as an American, have far more serious issues to concern yourself with and you are not going to have to wait long to have your worst fears to be borne out.

Something Wicked This Way Comes

Some, who have heard my expressed sense of outrage, have asked me if I favor a violent overthrow the United States Government. To that question, I answer in the negative. However, show me a way to be involved in the overthrow of the gangsters who have hijacked my country’s government, and I will be the first in line. However, before that day arrives, we have some very formidable obstacles to face with regard to what is looming just around the corner.

Goldman Sachs Is the Financial Kingpin of False Flag Attacks

If one wants to predict the next false flag attack, one merely has to watch the actions and the money movements of Goldman Sachs.

In the days leading up to the attacks on 9/11, Goldman Sachs “shorted” the sale of airline stocks which plummeted in the aftermath of the attacks. Just a coincidence you say?

In the days leading up to the housing bubble, Goldman Sachs shorted housing stocks which ignited the bubble. The Federal government fined Goldman Sachs, but in typical fashion nobody went to jail. Just another coincidence you say?

As I documented in my seven-part series, The Great Gulf Coast Holocaust, Goldman Sachs executed a “put option” for preferred insiders invested in Transocean stock, thus protecting the profits of these preferred insiders on the morning of the explosion. Transocean was the owner of the ill-fated oil rig. Goldman Sachs also sold the lion’s share of its stock less than two weeks before that fateful day on April 20, 2010. Nalco was the subsidiary of Goldman Sachs and BP at the time of the explosion. Who is Nalco? Nalco was the exclusive manufacturer of the deadly oil dispersant, Corexit. Corexit has done more to wreck the ecology of the Gulf as well as the health of the Gulf Coast residents than the oil spill itself. Again, this is all documented in my seven-part series. By the way, I count another three coincidences in this paragraph alone and if you are keeping score, we are looking at a total of five amazing coincidences. But wait, there is more!

The moral of this story is clear: if there is to be a significant false flag event, the financial actions of Goldman Sachs will prove to be the key. And Goldman Sachs’ actions have signaled yet another oncoming false flag. As I reported in April, Goldman Sachs instructed its brokers to sell short on gold stocks. And then after the bulk of the gold market panicked and the price of gold plummeted in a massive sell off, the Goldman Sachs boys did it again. The Goldman Sachs brokers began to purchase gold in massive amounts, for its elite clients, at a greatly depressed price. By the way, Goldman Sachs employed the EXACT same strategy with regard to the Gulf Oil tragedy. When Goldman Sachs sold off BP stock in the days before the explosion, they purchased massive amounts of BP stock at a greatly reduced price in June of 2010. The coincidence meter is now up to seven.

Why Goldman Sachs Cornered the Gold Market

The global elite would only want massive amounts of gold because something bad is about to happen to the dollar. When the dollar collapses, the elite, courtesy of the Goldman Sachs brokers will be sitting in a great position in which they hold the only sustainable medium of exchange following the collapse. But when will the collapse come? What form will it take?

As I reported, less than two weeks ago, the Bank for International Settlements ordered the central banks, including the Federal Reserve, to greatly decrease loans as a protection to the coming bad financial times. So, now we are getting warned and the narrowing down of where this is leading, is getting easier to predict.

It is important to remember that Goldman Sachs and the rest of the international banking community desperately want to wage war in Syria and eventually Iran over the demise of the Petrodollar caused by Iran in which they are selling oil for gold to India, China and Russia. There is also big money to be made by the banks in an upcoming global conflict. More importantly, and just as the world witnessed in the aftermath of WWII, consolidation of power can be achieved following a major war. Additionally, Goldman Sachs and the rest of the international bankers are not about to let China and Russia thumb their noses at the prevailing economic system. Gold will not be allowed to be used as a medium of exchange for nation states, because a nation on the gold standard, is a nation that controls its debt levels and financial security. This is unacceptable to the central bankers who kill national leaders, such as Gadaffi and Saddam Hussein, for daring to break from the plan and achieve financial independence.

What the globalists also need is a game-changing event which will destroy all opposition to the coming war. And the financial intentions of Goldman Sachs clearly speaks to the fact that a false flag attack is imminent which will implicate Syria and Iran and provide the pretext for the US and Israel to attack.

The Nature of the Coming False Flag Attack

The coming false flag attack which will plunge America into martial law, for our own protection of course, will result in WWIII. The false flag event could take two forms. It was reported two weeks ago, that the US was missing a nuclear weapon from a military base in Texas. This prompted Senator Lindsay Graham to state that the harbor in Charleston, SC. would be nuked if the US did not attack Syria. This is the first scenario.

The other scenario, and the far more likely one, has the power grid going down on November 13th. The Grid Ex II drill being conducted by DHS, FEMA, 150 corporations and the 50 governors, will simulate a power grid take down by terrorists on that same date. How many times have we witnessed a drill which turns into a false flag attack? This happened with 9/11, the 7/7 bombings and the Boston Marathon. There is a good chance it is going to happen here.

In this scenario, once the grid is taken down, a banking collapse can be instituted and most will not notice because by the third day of a blackout, total chaos will ensue and nobody will be paying attention to the banks. Martial law will be imposed and Syria and Iran will be blamed.

The CEO of Goldman Sachs, Lloyd Blankfein, is on the record stating that an economic collapse is imminent. Need I say more?

Conclusion

Regardless of the form that an upcoming false flag event will follow, Goldman Sachs has tipped their false flag hand. A false flag event is coming and it is a safe bet that it will culminate in martial law. This would certainly explain DHS’ collecting of 2.6 billion rounds of ammunition and 2700 armored personnel carriers. There is also going to be a resulting third world war. The globalists know humanity is waking up. They are running out time and they are desperate. This could all be over in a few months. Do you not feel the collective sense of dreaded anticipation that has overtaken the country? At the unconscious level, we all know what is coming.

The November power grid drill is worth watching and I predict in the upcoming weeks, there will be many articles written about how to survive the coming events. I would advise all to pay attention, but most of all, I would advise people to get their spiritual affairs in order. We come into the world with nothing and all we leave with is the sum total of our spiritual experiences. It is time to attend to that detail in the present time

Dave is an award winning psychology, statistics and research professor, a college basketball coach, a mental health counselor, a political activist and writer who has published dozens of editorials and articles in several publications such as Freedoms Phoenix, News With Views and The Arizona Republic.

The Common Sense Show  features a wide variety of important topics that range from the loss of constitutional liberties, to the subsequent implementation of a police state under world governance, to exploring the limits of human potential. The primary purpose of The Common Sense Show is to provide Americans with the tools necessary to reclaim both our individual and national sovereignty.

Largest Bank In World Announces Crash

The Bank for International Settlements, the most powerful bank in the entire world, has just announced ‘the crash’ according to this story below translated below from Germany. Is this why the US Federal Reserve has just decided on QE infinity? We appear to have reached a new era in the collapse of the US economy and our country, they aren’t even going to try to hide nor stop this any more. The crash has been announced by BIS.

 

The decision by the U.S. Federal Reserve to continue indefinitely to print money (here ) might have fallen on ”orders from above”.

Apparently, the central banks dawns that it is tight.

Very narrow.

The most powerful bank in the world, the Bank for International Settlements(BIS) has published a few days ago in its quarterly report for the possible end of the flood of money directly addressed – and at the same time described the situation on the debt markets as extremely critical. The “extraordinary measures by central banks” – aka the unrestrained printing – had awakened in the markets the illusionthat the massive liquidity pumped into the market could solve the fundamental problems (more on the huge rise in debt - here ).

This clear words may have meant that Ben Bernanke and the Federal Open Market Committee, the Fed got cold feet. Instead, as expected, which is now formally announcing the end of the flood of money, the Fed has decided to just carry on as before. If one is to the BIS experts believe that no single problem is solved. All problems are only increasing.

Because the BIS but apparently does not know how they get the genie back in the bottle, it pays to listen to those who were part of the system – but now have no official functions and therefore more able to find clear words. The former chief economist of the Bank for International Settlements (BIS), William White, was also reported to be parallel to the BIS word. His statements are nothing more and nothing less than an announcement of the big crash.

Shocker: New Survey Finds Nearly Every Federal Employee Rejects ObamaCare

Who knew that when President Obama promised, “If you like your health care plan, you will be able to keep your health care plan.  Period,” he was only referring to federal employees … and himself?
A new survey of 2,500 federal employees and retirees found that 92.3 percent believe federal workers should keep their current health insurance and not be forced into ObamaCare.  Only 2.9 percent say they should become part of the new health insurance exchanges.
I suspect a similar percentage of private sector employees would also like to keep their coverage, but most won’t get that option.  What I’d like to know is how many of those federal employees so eager to avoid ObamaCare themselves supported forcing everyone else in it.
There’s more.  The survey, conducted by FedSmith.com, “an information portal for sources of information impacting the federal community and those interested in the Federal Government’s activities,” found that 96.1 percent think federal retirees should be able to stay with their retirement health insurance.  Only 3.9 percent think they should get “Medicare in lieu of their current option.”
To put it simply: Federal employees and retires almost unanimously prefer to stay in their generous taxpayer-funded health insurance program, known as the Federal Employees Health Benefit Plan (FEHBP), rather than being dumped into liberalism’s two greatest monuments to government-run health insurance, ObamaCare and Medicare.
Speaks volumes, doesn’t it?
Of course, we already knew that Internal Revenue Service employees don’t want ObamaCare.  Their union, the National Treasury Employees Union (NTEU), with 150,000 members, is urging members of Congress to reject a bill introduced by House Ways and Means Committee Chairman Dave Camp, which would require all federal employees to enroll in ObamaCare.
And those mostly Democratic members of Congress hearing from the NTEU will certainly be sympathetic to the union’s message, since the members and their staffs have been whining for their own exemption from the law—which they recently got.  The Obama administration has conveniently discovered an exemption in the language of the legislation—as if anyone ever had any doubt they would.
While members of Congress and their staffs will still be in ObamaCare exchanges, the federal government will continue to provide the same level of subsidies it has for years, about three-fourths of the cost of coverage, which means the government will chip in roughly $4,900 for individuals and $10,000 for families.
The problem was that highly paid members of Congress and their staffs make too much money to qualify for taxpayer-provided subsidies under ObamaCare, and therefore they would have had to foot the whole health insurance bill themselves, easily costing $15,000 to $20,000 or more for a family policy.
However, all of those private sector taxpayers who make good salaries without access to employer-provided coverage and newly found sugar-daddy exemptions from the law will have to cough up that same price for coverage out of pocket.  But that’s their problem for not having a good government job.
And federal employee unions aren’t the only ones complaining.  Several non-government unions are being forced to renegotiate their health benefits packages because of provisions in the law, especially the one capping the tax break for very expensive plans.  Those unions are not happy about having to reduce their hard-won benefits.  They too believed Obama’s promise and got snookered.
This kind of hypocrisy goes a long way toward explaining why the American people have become so cynical about politics.
But we’re not done yet.  Senate Majority Leader Harry Reid just revealed what lots of people believed all along: the real goal is a single-payer, government-run health care system.

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Bullard Says Taper Possible After Close Call QE Decision

Federal Reserve Bank of St. Louis President James Bullard, a voter on policy this year who has backed record stimulus, said the Fed may make a small cut to bond purchases in October after its narrow decision this week not to reduce accommodation.
“That was a borderline decision” after “weaker data came in,” Bullard said yesterday on Bloomberg Television’s “Bloomberg Surveillance” with Tom Keene and Sara Eisen. “The committee came down on the side of, ‘Let’s wait.’”
Bullard called October a “live meeting,” because “it’s possible you could get some data that change the complexion of the outlook and could make the committee be comfortable with a small taper in October.”
The Fed this week unexpectedly refrained from reducing its $85 billion in monthly asset purchases, saying it needs to see more signs of sustained labor market gains. Chairman Ben S. Bernanke said Sept. 18 the central bank would decide on whether to taper purchases based on “what’s needed for the economy.”
The Fed will be able to weigh the September jobs report and revisions of prior months as well as updated housing reports at its Oct. 29-30 meeting, Bullard said in a separate interview at Bloomberg’s headquarters in New York. “This was a very close call so maybe the information would come in in a way that would change the complexion” of the outlook, he said.
Markets shouldn’t have been surprised by the decision because Federal Open Market Committee members have repeatedly said the decision to slow, or taper, would be “data dependent,” Bullard said.

Slightly ‘Dismayed’

“I’m a little dismayed at those in markets that are saying they’re surprised by this,” Bullard said. The Fed said that, “if the economy was going to improve in the second half of the year, and if we saw that improvement, we would taper.”
Kansas City Fed President Esther George, who has consistently dissented against additional stimulus, said the central bank missed an opportunity to begin reducing bond purchases because markets were primed for such a move.
“Costly steps had been taken to begin to prepare markets for an adjustment in the pace of asset purchases,” George said yesterday in a New York speech. “This week’s decision by the Fed to taper expectations and not bond buying surprised many, disappointed some like me.”
George has voted this year against all six decisions by the FOMC to press on with bond buying, saying the program risks creating imbalances in the economy and financial markets and pushing up long-term inflation expectations.

Possible Timetable

Bernanke’s remarks earlier this year on the prospect for tapering sent bond yields as much as a percentage point higher. Yields on the benchmark 10-year Treasury note climbed as high as 2.99 percent on Sept. 5 from 1.93 percent on May 21, the day before Bernanke first outlined a possible timetable for a reduction in the asset purchases.
This week’s FOMC decision not to taper helped reverse that rise and pushed back expectations for a tightening of monetary policy. The yield on the benchmark 10-year Treasury note fell yesterday 0.02 percentage point to 2.73 percent in New York, according to Bloomberg Bond Trader prices. The yield earlier rose 0.03 percentage point after Bullard said the FOMC may trim bond buying next month.
Most economists surveyed say the Fed will begin curtailing asset purchases in December. Twenty-four of 41 economists surveyed Sept. 18-19 said the Fed will now wait until December before taking the first step in dialing down monthly bond purchases, according to a Bloomberg survey. The median estimate in an Aug. 9-13 poll projected the Fed would begin paring at this week’s meeting.

Tapering Odds

Investors see a 43 percent chance policy makers will increase the federal funds rate target to 0.5 percent or more by January 2015, based on data compiled by Bloomberg from futures contracts. The odds were 68 percent two weeks ago.
“Rates went up a lot over the summer” and “for many on the committee that was a surprise,” Bullard said. It wasn’t a “surprise for me because I’ve said the flow of QE matters a lot.”
So “when we threatened to pull that back, markets naturally” sent yields higher, he said. Bullard during the past two months has urged the Fed to hold off on adjusting so-called quantitative easing, saying any change should depend on whether inflation moves toward the Fed’s 2 percent target. Policy shouldn’t rely on central bank forecasts for the economy that have proven too optimistic in the past three years, he said.
“We got some weaker data, so that put the committee in a position where we could delay,” he said. With inflation low, Bullard said “we can afford to be patient.”

Adjust Guidance

The FOMC might also want to adjust its guidance on rates, Bullard said. A “more likely” scenario than lowering the 6.5 percent unemployment threshold is introducing an inflation floor, Bullard said. The threshold would be something like “so long as inflation was running below 1.5 percent,” the Fed wouldn’t raise interest rates, he said.
Bullard said he thought 1.5 percent was a good level because it’s “symmetric” with the 2.5 percent threshold on the “high side” of the central bank’s 2 percent goal for price increases. Bullard said he doesn’t see the Fed lowering its unemployment threshold.
“I don’t think that’s going to happen,” he said. “If you move that threshold” it “loses meaning” as “markets would rightly think” the Fed could move them around “for convenience.”
The Fed’s preferred measure of inflation, the personal consumption expenditures index, showed prices rising 1.4 percent in the 12 months ended in July.

‘See Evidence’

Bullard, referring to inflation in remarks prepared for a speech in New York, said he wants “to see evidence” of “an increase before endorsing less accommodative policy action.”
Bullard dissented from the FOMC’s June 19 policy statement, saying the panel should “signal more strongly its willingness to defend its inflation goal.” He dropped the dissent at the following meeting when the FOMC added language saying persistently low inflation posed risks to the economic outlook.
Bullard said he disagreed with the committee indicating a plan to taper bonds buying at that point, including stopping purchases in the middle of next year.
“It was premature to lay out the road map” for tapering in June, Bullard said. “I do think it was a mistake.”
“We should defend our inflation target from the low side,” Bullard said.

Ron Paul on U.S. Fed QE: Prepare for the Destruction of the Dollar

Today’s AM fix was USD 1,355.25, EUR 1,002.18 and GBP 845.39 per ounce.
Yesterday’s AM fix was USD 1,363.50, EUR 1,005.90 and GBP 848.16 er ounce
Gold fell $1.10 or 0.08% yesterday, closing at $1,365.20/oz. Silver dropped $0.08 or 0.35%, closing at $23.01. At 3:41 EDT, Platinum fell $3.70 or 0.3% to $1,458.80/oz, while palladium rose $13.85 or 1.9% to $730.59/oz
Gold edged off since its rally after the U.S. Federal Reserve decided to maintain its current stimulus program. The yellow metal added nearly 3% for the week and is on track for its biggest gain in five weeks. Gold bullion rallied 4.1% on September 18th after the Fed cited it needed to see more examples of economic recovery before it reduces the $85 billion-a-month of bond buying.
Bernanke clearly stressed that the quantitative easing program was "not on a preset course". The "no tapering" was a surprise to the market as bullion fell almost 20% this year in anticipation of a wind down in bond buying, but it has now gained from technical buying and short covering since the news.

Gold In U.S. Dollars, 5 Days - (Bloomberg)
Dr. Ron Paul, a former republican member of U.S. Congress from Texas discussed the Fed decision on Fox Business News segment, After the Bell.
David Asman: What do you think about the Fed’s decision to continue money printing?
Dr Paul: I think it’s a very bad sign I think it means the Fed is really worried.
David Asman: Worried about what?
Dr Paul:  About the economy. They are always bragging that things are really well, employment is up.
The seed of deception that they put out there is that things are really good. So now they are saying no, now it isn’t good and we have to keep inflating. So I think it's a bad sign but the markets liked it.
David Asman: The markets are doing well but the average American’s income is flat, plus add in even the little bit of inflation that the Fed is willing to admit to and frankly it is more than that because they are not including food and gas. Even then they lose value as a result of their income being stagnant.
Dr Paul: Think about it in a moral sense even if he gets his 2%? What right does the Fed have to take away 2% of their purchasing power automatically? What right does they have to punish the elderly who save money? I asked Bernanke and Greenspan the question and they throw their hands up and say that they feel some people will benefit by this.
David Asman: What happens now? If it’s Yellin she'll be like Bernanke on steroids. What does that mean for our economy?
Dr Paul:  Prepare for the destruction of the dollar and the crash of the bond market one day. The bond bubble is weakening although the interest rates have doubled in the last year.

Gold In Euro, 5 Days - (Bloomberg)
David Asman: The bond rates have fallen tremendously today 16 basis points (2.69%).
Dr Paul:  Yes. But you wait and see the trend will be zig zagging up. The prices are going up and standard of living is going down. The worst political problem we have is the discrepancy between the poor and middle class and the wealthy.
David Asman: I feel I have to defend the Fed because the housing market has benefitted from these low interest rates.
Dr Paul: Well yes some places yes, but I don’t know if it’s because of all good investment, since they get the signal from the Fed not their own savings. I hear adverts on the tv that you can still renew your mortgages with nothing down.
David Asman: Harkening back to the financial crisis.
Dr. Paul: Yes, but as long as the interest rates are artificial you get mal-investment or misdirected investment but you don’t know it’s a problem until the crisis comes.
David Asman: What about Congress anyone there on it? Anyone following in your footsteps?
Dr. Paul: Sure there are a few people in the house and my son. It's amazing I was at a book signing last night and someone wanted to talk about the Fed. I said, “how old are you?” and the answer was 14. So money is a big issue!
David Asman: Will it be a big issue in the next presidential election?
Dr. Paul: Yes it will continue to be a subject. People recognize that the Fed doesn't give us nirvana or perfect economies and it can’t do much now to get us out of problems.
David Asman: Will you run for office again?
Dr. Paul: I will try to influence young people and energize the movement. Our campuses are alive and well. They are interested free markets, liberty and in the National Security Agency and our privacy. There is a lot to be optimistic about in the long run but in the short run we are in going to have to go through some tough times.

"Not Lifting The Debt Limit Is Unleashing A Torrent! A River Of NO RETURN!" Nancy Pelosi

Cancer charities ripping off donors

Another Earnings Season Suggests Another Quarter of Slow Growth Ahead

Another earnings season is upon us and there are already some solid benchmark stocks reporting decent numbers. It remains, however, a very slow-growth environment, and this expectation should be with every equity market investor going forward. The days of three-percent-plus real growth in U.S. gross domestic product (GDP) are gone for the foreseeable future.
FedEx Corporation (FDX) is a worthy benchmark stock. For its first quarter 2014 (ended August 31, 2013), the company did a solid job of increasing its earnings with lackluster revenue growth. Total global sales grew two percent to $11.0 billion. Earnings grew seven percent to $489 million, and the company reaffirmed its full-year outlook with earnings-per-share growth of between seven and 13% over last year’s adjusted results.
Oracle Corporation (ORCL), which is still a good benchmark among blue-chip technology stocks, reported anemic revenue growth, similar to that of FedEx, of two percent to $8.4 billion for its fiscal 2014 first quarter (ended August 31, 2013). Earnings grew eight percent to $2.2 billion. The company’s sales for the quarter were below consensus.
Oracle is still a solid dividend-paying technology stock, but near-term, it’s potential for high single-digit sales growth is stalled.
Also recently reporting was Steelcase Inc. (SCS), with its results for its fiscal 2014 second quarter (ended August 23, 2013). This company manufactures furniture, chairs, walls, and doors, mainly for corporate and government customers. Consolidated sales for its latest fiscal quarter grew only 1.7% to $758 million. Earnings fell to $27.6 million from $29.5 million in the comparable quarter last year. Diluted earnings per share fell to $0.22 from $0.23.
General Mills Inc. (GIS) reported decent first-quarter 2014 (ended August 25, 2013) earnings that were in line with Wall Street consensus. Revenues slightly beat the Street, and the company reiterated its previous outlook for fiscal 2014.
And finally, Adobe Systems Incorporated (ADBE) beat just slightly with its third-quarter earnings results. The company’s been in transition to a cloud-based, subscription revenue generator. Investors bid the shares after the numbers. The stock is at an all-time record high.
But if there is one immediate trend that stands out from early reporting companies, it’s that sales growth is once again anemic. Even those corporations that are beating Wall Street revenues estimates are only doing so by a slight margin, and we’re still mostly talking about top-line growth in the low single digits.
Like last quarter, there’s not much to be excited about with current earnings reports. Once again, the action in the markets is looking low and slow for the foreseeable future. (See “Why Key Stock Indices Can Still Advance in Wake of New Monetary Policy.”)
And still, the stock market is at an all-time high, which (as it’s been all year) is such an odd metric for mediocre financial growth. The monetary expansion continues with no regard to its consequences. As it rarely pays to fight the Fed, this is an equity investor’s market with a monetary backdrop favorable for stocks.
The Fed’s decision to maintain current quantitative easing is a catalyst for near-term gains in equities. But I wouldn’t be loading up on stocks because of it. I’d stick to what corporations say about their businesses. The trend is that business is steady, but barely growing.

Ron Paul on U.S. Fed QE: Prepare for the Destruction of the Dollar

by GoldCore
Today’s AM fix was USD 1,355.25, EUR 1,002.18 and GBP 845.39 per ounce.
Yesterday’s AM fix was USD 1,363.50, EUR 1,005.90 and GBP 848.16 er ounce
Gold fell $1.10 or 0.08% yesterday, closing at $1,365.20/oz. Silver dropped $0.08 or 0.35%, closing at $23.01. At 3:41 EDT, Platinum fell $3.70 or 0.3% to $1,458.80/oz, while palladium rose $13.85 or 1.9% to $730.59/oz
Gold edged off since its rally after the U.S. Federal Reserve decided to maintain its current stimulus program. The yellow metal added nearly 3% for the week and is on track for its biggest gain in five weeks. Gold bullion rallied 4.1% on September 18th after the Fed cited it needed to see more examples of economic recovery before it reduces the $85 billion-a-month of bond buying.
Bernanke clearly stressed that the quantitative easing program was “not on a preset course”. The “no tapering” was a surprise to the market as bullion fell almost 20% this year in anticipation of a wind down in bond buying, but it has now gained from technical buying and short covering since the news.

Gold In U.S. Dollars, 5 Days – (Bloomberg)
Dr. Ron Paul, a former republican member of U.S. Congress from Texas discussed the Fed decision on Fox Business News segment, After the Bell.
David Asman: What do you think about the Fed’s decision to continue money printing?
Dr Paul: I think it’s a very bad sign I think it means the Fed is really worried.
David Asman: Worried about what?
Dr Paul:  About the economy. They are always bragging that things are really well, employment is up.
The seed of deception that they put out there is that things are really good. So now they are saying no, now it isn’t good and we have to keep inflating. So I think it’s a bad sign but the markets liked it.
David Asman: The markets are doing well but the average American’s income is flat, plus add in even the little bit of inflation that the Fed is willing to admit to and frankly it is more than that because they are not including food and gas. Even then they lose value as a result of their income being stagnant.
Dr Paul: Think about it in a moral sense even if he gets his 2%? What right does he have to take away 2% of their purchasing power automatically? What right does he have to punish the elderly who save money? I asked Bernanke and Greenspan the question and they throw their hands up and say that they feel some people will benefit by this.
David Asman: What happens now? If it’s Yellin she’ll be like Bernanke on steroids. What does that mean for our economy?
Dr Paul:  Prepare for the destruction of the dollar and the crash of the bond market one day. The bond bubble is weakening although the interest rates have doubled in the last year.
David Asman: The bond rates have fallen tremendously today 16 basis points (2.69%).
Dr Paul:  Yes. But you wait and see the trend will be zig zagging up. The prices are going up and standard of living is going down. The worst political problem we have is the discrepancy between the poor and middle class and the wealthy.
David Asman: I feel I have to defend the Fed because the housing market has benefitted from these low interest rates.
Dr Paul: Well yes some places yes, but I don’t know if it’s because of all good investment, since they get the signal from the Fed not their own savings. I hear adverts on the tv that you can still renew your mortgages with nothing down.
David Asman: Harkening back to the financial crisis.
Dr. Paul: Yes, but as long as the interest rates are artificial you get mal-investment or misdirected investment but you don’t know it’s a problem until the crisis comes.
David Asman: What about Congress anyone there on it? Anyone following in your footsteps?
Dr. Paul: Sure there are a few people in the house and my son. It’s amazing I was at a book signing last night and someone wanted to talk about the Fed. I said, “how old are you?” and the answer was 14. So money is a big issue money?
David Asman: Will it be a big issue in the next presidential election?
Dr. Paul: Yes it will continue to be a subject. People recognize that the Fed doesn’t give us nirvana or perfect economies and it can’t do much now to get us out of problems.
David Asman: Will you run for office again?
Dr. Paul: I will try to influence young people and energize the movement. Our campuses are alive and well. They are interested free markets, liberty and in the National Security Agency and how our privacy. There is a lot to be optimistic about in the long run but in the short run we are in going to have to go through some tough times.

Gold In Euro, 5 Days – (Bloomberg)

Ron Paul: To Continue To Destroy Our Currency Is Always Bad, It Destroys The Middle Class