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Mar 18, 2010

Tenth Amendment: The Last Hope

by Fred Reed


Washington is out of control. It does as it likes, without restraint. It spends American money and American lives to fight remote wars for which it cannot provide a plausible reason. It determines what our children will be taught, who we can hire and fire, to whom we can sell our houses, whether we can defend ourselves, even what names we can call each other. The feds read our email and track the web sites we visit, make us hop around barefoot in airports at the command of surly unaccountable rentacops. They search us at random in train stations without even a pretense of probable cause. We have no influence over them, no way of resisting.

Except, perhaps, to ignore them.

Washington has learned to insulate itself from interference by the population. Huge impenetrable bureaucracies beyond public control make regulations that amount to laws, spending God knows how much money to do God knows what for the benefit of the interest groups that run the government. These bureaucrats cannot be fired and usually cannot be named. Congress, like the bureaucracies, serves not the United States but the big lobbies. The looters of Wall Street wreck the lives of millions, and get millions in bonuses for doing it instead of the end of a rope.

Continued

Central Banks Rapidly Accumulating Gold: What's the Message?

Bloomberg News reported this morning that Central Banks globally in 2009 increased their gold reserves for the first time since 1988 at the fastest pace since 1964. Moreover, 2009 saw a general movement of investment globally into gold: “There’s clearly been a renaissance of gold in central bankers’ minds,” said Nick Moore, an analyst at Royal Bank of Scotland Group Plc in London. “It’s not just been central banks taking on gold, but a general shift for physical gold in the investment sector” (LINK).

We know that China, Russia and India are hoovering gold. And we know that the European Central Bank system has not sold any gold for several weeks and is on track to fall well short of its yearly sales quota of 400 tonnes. We don't know what the U.S. Fed is doing with its gold, as there is absolutely no transparency on this matter. The U.S. gold reserves have not been independently verified or audited since Eisenhower was President and every attempt to obtain information about the gold using the Freedom Of Information Act has been denied by the Fed. A lawsuit by GATA seeking to force the Fed's hand is currently pending in the U.S. district court in DC.

I believe that the massive accumulation of gold by Central Banks represents a gradual movement from a global currency system that is based on fiat - "full faith and credit" (i.e. "trust us") - to one which will be based on a currency system with some kind of hard asset backing, and that the hard asset will be gold. I'm not alone with this view, and as nauseating as it is for me to quote Dennis Gartman, he is of the similar view as me (from the Bloomberg link above): “
Gold is quietly, at the edge, becoming the world’s second reservable currency, supplanting the euro and rivaling the dollar," Dennis Gartman, a Suffolk, Virginia-based economist and hedge-fund manager, said in his Gartman Letter today. “The trend shall continue months, if not years, into the future."

It will take some time and a considerably higher price of gold in order to accomplish a gold-backed currency system. Historically, when the world has operated under such a system - which was really up until the Bretton Woods Agreement in 1944, Central Banks held 40% of their currency reserves in gold. Consider now that most CB's hold well under 10% of their reserves in gold. Given the declining output in gold -something which can be partially remedied by a much higher price of gold, which would stimulate more exploration and production - it will take a significantly higher valuation price for gold in order to achieve this historical 40% reserve metric.

Thus, the message of the market with respect to gold is clear: smart investors should shift a considerable portion of their investment portfolio into gold (and silver and mining stocks) and the price of gold is going to go much higher for several years. If you think I'm whacked out in my view, please take a few minutes to read this essay on using gold as a currency backing written by none other than Alan Greenspan in 1966:
GOLD AND ECONOMIC FREEDOM

Sign Copenhagen; Sign Cap N Trade; Give us that $2 trillion dollar market based on meaningless paper permits, and funded by consumers everywhere!

By Joanne Nova | March 15, 2010

Six months ago, Deutsche Bank was overcome with concern about the planet—bless its soul–and launched this 70 ft. vision of climate doom opposite Madison Square Gardens, New York. You can feel relieved. The bank paid for the carbon credits (no doubt through one of its own funds), so the 40,960 low-energy light-emitting diodes are “carbon-neutral.”

Kevin Parker for Deutsche Asset Management said: “We hope with this sign that it is going to foster a sense of urgency about the problem, raise public awareness, create a need for education and really spur a call for action”

Spurring action indeed. “Sign Copenhagen; Sign Cap N Trade; Give us that $2 trillion dollar market based on meaningless paper permits, and funded by consumers everywhere. Please!”

In a more candid moment, Parker said: “Well, what we’d like to see is a price on carbon. That is absolutely foremost in everyone’s minds involved in the climate change debate. The governments around the world have to get on with regulations…”

Yes, the real agenda is the legislation: forced payments from citizens. We all know we aren’t going to see the Deutsche Bank Top-Soil Clock coming soon highlighting the problem of erosion, or the Deutsche Bank Falling Fish Stock Clock…or the Deutsche Bank program to save the spotted owl.

In a brazen ambit, Parker suggested we all might like to invest more in renewable energy: $45 trillion more (over 40 years), and that’s only going to solve half the problem”. There is no end to the audacity.

Is this anything other than blatant advertising for a Cap N Trade scheme? Ponder if Exxon launched a similar billboard with the “costs” of carbon mitigation, it would be vandalized, scorned, and disparaged even by august associations like the Royal Society.

A NASA official would call for corporate heads to be jailed for crimes against humanity.

It’s ok for bankers managing $695 billion-dollar funds to take sides in a science debate…. That’s not the same as corporations trying to influence policy.


Related: Climategate: Two More Bricks Fall Out Of The IPCC Wall Of Deceit

The bottom line is the actual statistics, conceded even by warmists: since 1970 the world’s polar bear population has “declined” from 5,000 to 25,000. Some of us would term that a quintupling, but obviously we do not share the same mathematical skills as those who predicted the imminent loss of the Himalayan glaciers. The IPCC and the whole scam it promotes is now irreversibly on the slide. If you have no devastated rainforests and those pesky polar bears keep on doing what polar bears do on cold Arctic nights, you have lost the schoolchildren – and they were almost the last supporters of man-made global warming.

source

Meet the US Worldwide Gulag Network & its Horrors

by Stephen Lendman / March 17th, 2010

On January 28 in TomDispatch.com, Anand Gopal headlined, “Night Raids, Hidden Detention Centers, the ‘Black Jail,’ and the Dogs of War in Afghanistan,” recounting unreported US media stories about killings, abductions, detentions, interrogations, and torture in “a series of prisons on US military bases around the country.” Bagram prison, for example, is “a facility with a notorious reputation for abusive behavior,” including brutalizing torture and cold-blooded murder.
Even worse is the “Black Jail,” a facility consisting of individual windowless concrete cells with bright 24-hour lighting, described by one former detainee as “the most dangerous and fearful place” in which prisoners endure appalling treatment.

The pattern is predictable. US/NATO convoys are attacked or reports of Taliban forces are received. Americans respond accordingly, rounding up suspects, mostly innocent civilians, and detaining them for interrogations, torture, abuse and degrading treatment – not just in Afghanistan but in secret black sites globally, according to a January 26 UN Human Rights Council (HRC) report detailing practices engaged in by various countries including America, by far the world’s worst offender in its war on terror — one waged against humanity for unchallengeable power and total global dominance.

Besides Guantanamo, Afghanistan and Iraq, HRC said the CIA runs scores of offshore secret prisons in over 66 countries worldwide for dissidents and alleged terrorists — in Egypt, Algeria, Jordan, Morocco, Syria, Libya, Tunisia, India, Pakistan, Russia, Uzbekistan, Sudan, Zimbabwe, Ethopia, Djibouti, Kenya, Poland, Romania, Bosnia, Kosovo, Thailand, Diego Garcia, and elsewhere.

Post-9/11, “the United States embarked on a process of reducing and removing various human rights and other protection mechanisms” through numerous laws and administrative acts including..." Read all

EU Selling Torture Equipment

BRUSSELS – Equipment designed for torturing prisoners is still being exported from European Union (EU) countries despite a four-year-old ban on such trade, according to a new report by Amnesty International. Source



Blaming Iran: The Next False Flag ‘Terrorist Attack’

The next step will be a staged “terrorist attack,” a “false flag” operation as per Operation Northwoods, for which Iran will be blamed. As Iran and its leadership have already been demonized, the “false flag” attack will suffice to obtain US and European public support for bombing Iran. The bombing will include more than the nuclear facilities and will continue until the Iranians agree to regime change and the installation of a puppet government. The corrupt American media will present the new puppet as “freedom and democracy.”

source

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Protect Your ASSets: Buy Gold or Silver NOW - If you wait you will be late.
(He who panics first, just may salvage something.