Euro Bail-out Fund Won't Work

With virtually all the countries involved up to their eyeballs in debt, who is left to bail out those going under? The magic of socialism and its (enabling) fiat currency is being exposed as merely an illusion.
Wolfgang Schauble admits euro bail-out fund won't halt crisis - Telegraph:: www.telegraph.co.uk/finance/financialcrisis/892446....html
http://chumly.com/n/e5ad19

World's Financial System's Inherent Instability

The world’s financial system is like a pyramid standing on its tip. It’s inherent instability is becoming obvious. Chunks are starting to fall off. The crumpling tip it rests on is the full faith and credit of governments and the integrity of big businesses like Goldman. It is composed of men like Corzine, Bernanke, Weiner, and Soros. They have developed something like a big casino with no legal oversight. The only risk for the"house” is that the gamblers and those that work the business for them (the citizens) realize how rigged the game is, and they lose control. They create their worthless paper certificates at will with no labor, and the people slave away to collect a few of them. The complex labyrinth of derivatives and debt is a load that the rotten tip of the pyramid cannot hope to support.

To create a stable system you must build the financial system on honest money, money that cannot be created"ex nihilo”. The unit of exchange then can only come into existence through human labor, and has integrity from the start. Such a system does not lend itself to the top-heavy growth of government and big business if a free market is allowed to discipline the corrupt and inefficient. Such a system once existed in America when men still believed in the critical truth upon which the"rule of law” existed. They believed that there was a supreme Ruler and Lawgiver before whom all men, even those in government stood equally accountable. The Natural Law these men confessed in our founding documents did not originate with men, and therefor no man was above the law. Once that foundation is abandoned the only option you are left with is that men are the source of the law, and in every case where that is true, those same men will make the law begin to serve their own interests. The broad base of distributed power designed by our Founding Fathers has been completely replaced by a system of concentrated power residing with corrupt, selfish men. My hope is that as this pyramid crumbles those men at the tip will be crushed in its fall. I pray we will once again build a system with a broad base of distributed power and sound money carrying a small load of government commissioned with no more or less than preserving justice based on a Christian ethic. If that happens the pyramid will be set on its base.
http://chumly.com/n/e4cadb

Godfather of Newsletter Writers Warns of Financial Storm

My Blog:: kingworldnews.com/kingworldnews/KWN_DailyWeb/Entri....html
http://chumly.com/n/e4ca10

Goldman Sachs Conquers Europe

It should be obvious after the AIG bailout that Goldman pulls the important strings in the USA. Their tentacles in Europe are equally impressive. The thing to remember? It is our politicians/elected representatives who have welcomed this tramp into the most intimate corners of their governmental chambers. When the stewards of our freedom spend the resources they have been entrusted with on services like this, it is time to replace them. They supply the market for the Goldman and company brothel.
What price the new democracy? Goldman Sachs conquers Europe - Business Analysis & Features - Business - The Independent:: www.independent.co.uk/news/business/analysis-and-f....html
http://chumly.com/n/e3f266

Obama Taking US to Brink of War With Russia

This address by Russian president Dmitry Medvedev is chilling. It has been observed that desperate governments turn to war to rally their people around their insolvent currencies, policies and administrations, now our Nobel Peace Prize winner is acting more recklessly with our lives and the lives or our children than any before him.
Russia Retaliates Against US: Puts Radar Station On Combat Alert, Prepares To Take Out European Missile Defense Systems | ZeroHedge:: www.zerohedge.com/news/russia-retaliates-against-u...ssile
http://chumly.com/n/e3e78e

More Than Just PIIGS in Trouble

Anyone willing to take their head out of their WSJ will have to admit that we are in a multi-year global debt crisis. Debt equals risk. Every part of the system is loaded down with too much debt created by a fractional reserve banking system and undisciplined, unaccountable central bankers. Fiat currencies themselves are ponzi schemes that sponsor booms and busts, the timing of which is far more dependent on faith and perception rather than a strict relationship between currency inflation and price inflation.
Hungary turns to IMF as stress mounts in Eastern Europe - Telegraph:: www.telegraph.co.uk/finance/financialcrisis/890547....html
http://chumly.com/n/e297ed

Time to Toss Central Bankers in the Boston Harbor?

There is never a bad time to toss Central Bankers, but seriously, don't assume the Dollar strength we see as investors flee the Euro is a long term trend. Sometimes rats fleeing a burning ship end up on a sinking scow.
ECONOMIST: Bernanke Is Going To End Up Bailing Out All Of Europe:: www.businessinsider.com/economists-ben-bernanke-is...11-11
http://chumly.com/n/e29021

The Run Continues

Last week I called the run on European banks, this week the run is so obvious the main stream financial press is seeing it. Actually abandoning debt denominated in the Euro is a run on the Euro as a currency. After the Euro gets its due, how long will the dollar last? Money must both store value and facilitate trade. When it ceases to be a store of value, it is just a matter of time before its other function is in question.
The Run On Europe Begins As Global Investors Head For The Hills...:: www.businessinsider.com/the-run-on-europe-begins-a...11-11
http://chumly.com/n/e28eb6

Nigel Farage in the European Parlament

Nigel rakes the Eurozone leaders over for replacing the governments of Greece and Italy with Eurozone Technocrats, and ending democracy in those countries. This is well worth the couple minutes.
Watch Nigel Farage Dance On The Euro's Grave | ZeroHedge:: www.zerohedge.com/news/watch-nigel-farage-dance-eu...grave
http://chumly.com/n/e09a76

Barnhardt Capital Management Warns Clients and Shuts Doors

Ann Barnhardt advised her clients the following: "The futures and options markets are no longer viable. It is my recommendation that ALL customers withdraw from all of the markets as soon as possible so that they have the best chance of protecting themselves and their equity." Read her letter. It is fantastic. If what she is saying is true, then the 600 Trillion in derivatives worldwide are going to implode as credit defaults and fraud feed on themselves and consume the innocent and guilty alike.
Barnhardt.biz - Commodity Brokerage:: barnhardt.biz
http://chumly.com/n/e09675

Federal Debt Eclipses GDP

Even as Europe shows us where it leads, our debt level has passed limits which have always resulted in debt/currency crisis throughout recent world history. But this one promises to be the biggest and most widespread. We have always been there to orchestrate a transition when other smaller countries threatened the stability of world trade. What happens when the dollar gets its own discipline?
Federal debt tops $15 trillion - Washington Times:: www.washingtontimes.com/news/2011/nov/16/federal-d...age=1
http://chumly.com/n/e00251

In Case You Missed it Congress' Insider Trading

Congress: Trading stock on inside information? - 60 Minutes - CBS News:: http://www.cbsnews.com/video/watch/?id=7388130n&tag=contentBody;storyMediaBox
http://chumly.com/n/dfb386

Short Honest Commentary on the Euro

BBC News - Hardtalk - 'Only massive debt restructuring can save EU':: http://news.bbc.co.uk/2/hi/programmes/hardtalk/9639507.stm
http://chumly.com/n/dfb12f

European Financial Stability Fund Funding Itself

The printing presses running overtime in Europe to save us all.
European Ponzi Goes Full Retard As EFSF Found To Monetize... Itself | ZeroHedge:: www.zerohedge.com/news/european-ponzi-goes-full-re...tself
http://chumly.com/n/df248a

Energy

I believe this article states the problem well, the solution it offers, however, is idiotic. Handing more control over to the central planners would just give us more ethanol, wind farm and solar boondoggles. How about taking their manipulating hands off the market, and let the best products win. Products like clean burning natural gas and natural gas liquids. By the way, have you noticed that anytime a recovery is expected in the US economy, oil prices take off? If we actually had a recovery, how long would it be before skyrocketing oil prices nipped it in the bud?
No Growth in Oil Production for 7 Years - Will Alternatives Arrive Soon Enough? at Oil Price:: oilprice.com/Energy/Crude-Oil/No-Growth-in-Oil-Pro....html
http://chumly.com/n/ddddc4

US Money-Market Funds Pull Out of Europe

Sounds like the corporate equivalent of a bank run. The banks may be insolvent because of worthless government debt, but don't worry, they are backed by government guarantees that will protect depositors.
U.S. Prime Money-Market Funds Pull $8 Billion From Deutsche Bank - Bloomberg:: www.bloomberg.com/news/2011-11-11/blackrock-among-....html
http://chumly.com/n/dddd73

Jim Rickards and James Grant Interview

This interview is well worth the ten minutes.
Rickards on Fed Policy, U.S. Economy, Gold Standard - Video - Bloomberg:: www.bloomberg.com/video/79944740
http://chumly.com/n/dd3d21

More on the Euro

With the world's second most prominent fiat currency receiving multiple shots from the defibrillator, how long will it be before the world turns its attention to the #1 currency, the dollar, and examine its fundamentals? The question for us is when will histories largest and most distorted bubble burst, and what will be the consequences?
Gold and bonds are all that's left - Yahoo! Finance:: beta.finance.yahoo.com/news/gold-bonds-thats-left-....html
http://chumly.com/n/dcbee9

Financial Catastrophe Not a Product of Capitalism

The liberal press loves to blame capitalism for socialism's excesses. But Italy is proving everyone's debt is no-one's debt, and no-one will pay it honestly. When politicians can borrow with no personal liability and be rewarded by those being led to financial slaughter, you get unsustainable piles of debt. Debt without liability, what a concept.
My Blog:: kingworldnews.com/kingworldnews/KWN_DailyWeb/Entri....html
http://chumly.com/n/dcac78

A Little Free-Market Shows Up in the AMA?

Gotta love Tom Woods.
Need Inexpensive Surgery? Go Free Market | Tom Woods:: www.tomwoods.com/blog/need-inexpensive-surgery-go-...hread
http://chumly.com/n/da5e21

Iran Situation

If war breaks out in the Middle East our domestic energy policy will come back to bite us hard. How much would doubling or tripling gas prices hurt the economy? And please don't fall for the economic fallacy that wars boost economies.
Iran attack 'drawn up by UK and US' as Middle East tensions rise | Mail Online:: www.dailymail.co.uk/news/article-2056873/Iran-atta....html
http://chumly.com/n/d9987d

Peter Schiff on Fed and Economy

Economist Peter Schiff points out that the Fed is probably already quietly engaged in monetary easing, which can be accomplished by simply lending to the banks knowing that they will turn around and buy Treasuries, making a cool 2-3 percent profit in the risk free deal and providing an apparent lender to the government at the same time. Twisted.
My Blog:: kingworldnews.com/kingworldnews/KWN_DailyWeb/Entri....html
http://chumly.com/n/d96afa

Socialism's financial Plan Unravels in Europe

With Europe's elites deciding to deal with too much debt by creating a leveraged rescue fund, it is just a question of how it will all unravel and how fast, not "if". The mistake was too much borrowing and debt, and was made in the past, and is well beyond reversal. We in the US as well are already committed to a crisis by our own elites who have spent far more that can ever be repaid honestly. Our grandkids will not be paying this debt. We are right behind the PIIGS with similar debt to GDP ratios and even less discipline when it comes to cutting spending and shrinking the public sector.
Greek vote sets off 'pandemonium', engulfs Italy - Telegraph:: www.telegraph.co.uk/finance/financialcrisis/886367....html
http://chumly.com/n/d8b2d2

Seventh Largest Bankruptcy in US History

Another former Goldman executive turned politician shows what they're made of. Just a medium sized domino, but what will it bump?
Corzine's MF Global collapses under euro zone bets | Reuters:: www.reuters.com/article/2011/10/31/us-mfglobal-idU...early
http://chumly.com/n/d8119d

A Little Cartoon on the Euro Debt Crisis

Xtranormal Explains The European Non-Bailout Best - With A Cartoon | ZeroHedge:: www.zerohedge.com/news/xtranormal-explains-europea...rtoon
http://chumly.com/n/d8101e