Wednesday, May 23, 2012

ABSOLUTE BULLSHIT





“All propaganda must be popular and its intellectual level must be adjusted to the most limited intelligence among those it is addressed to. Consequently, the greater the mass it is intended to reach, the lower its purely intellectual level will have to be.” –Adolf Hitler

US unemployment data is a lie....the entire country knows it...and the Fed not only believes the data is accurate, but they base their monetary policy decisions on it too?  



“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.” -- Joseph Goebbels




Fed’s Kocherlakota:Higher Inflation Means Economy Closer To Max Employment
By Steven K. Beckner

(MNI) – Minneapolis Federal Reserve Bank President Narayana
Kocherlakota Wednesday warned there may be less slack in the labor
market than the employment data suggest, potentially resulting in more
inflation to which the Fed would have to respond.

The Fed’s policymaking Federal Open Market Committee is charged
with seeking “maximum employment” along with “price stability,” but
Kocherlakota said the FOMC faces “especially large uncertainty” about
the maximum level of unemployment that monetary policy can actually
achieve.

He said the maximum employment level the Fed can expect to attain
through monetary stimulus may well have been reduced (or the
unemployment rate increased) because of a “considerable deterioration”
in labor market efficiency.

Citing the increased difficulty firms are having filling job
openings in the face of reduced labor force participation, Kocherlakota
said some of the high unemployment may be “persistent,” not
“reversible.” If that is the case, he suggested, there is less
justification for further monetary accommodation.

Kocherlakota, who twice dissented against easing measures last
year, said above-target inflation is suggesting that the economy is
closer to “maximum” employment than many think and said the Fed “should
be responsive to such signals.”

Other policymakers, he acknowledged, believe that the kind of
“structural” labor market problems he mentioned are minimal and that
most unemployment is “reversible” and hence are more inclined to support
further monetary easing.

Kocherlakota pointed out that, in its statement of longer-run goals
and monetary policy strategy issued in January, the FOMC said it could
not set an unemployment target because “the maximum level of employment
is largely determined by nonmonetary factors that affect the structure
and dynamics of the job market.”

Kocherlakota emphasized that “the FOMC has no control over these
nonmonetary factors,” including such things as “population trends, the
incentives built into the tax system, the incentives built into social
insurance safety nets, the returns to human capital accumulation for
young people, and simply social norms.”

And he said changes in such nonmonetary factors “generate
fluctuations in the level of maximum employment achievable through
monetary policy — fluctuations that are often hard to gauge on a
real-time basis.”

And so, he said, the FOMC “currently faces an especially large
amount of uncertainty about the level of maximum employment that it can
hope to achieve.”

By way of illustration, Kocherlakota pointed to “a sharp decline”
in the employment/population ratio and to an “accelerated” decline in
the labor force participation rate.

Whereas firms usually hire more workers in a recovering economy, in
the recent period there has been “a decline in the ability of the labor
market to form mutually beneficial matches between workers and firms.”

“In that sense, the labor market is less efficient,” he said.
“Firms can’t fill their available job openings as readily as we would
have expected in light of the high unemployment rate.”

As a result, “labor market outcomes do remain notably worse than
prior to the recession,” he said.

Although the unemployment rate has come down, so has the labor
force participation rate, and there has been “considerable deterioration
in labor market matching efficiency,” he said.

Kocherlakota pointed to research showing that Sweden has suffered a
“permanent” increase in unemployment since its “triple crisis” of the
early 1990s and said “Sweden’s experience forces us to contemplate the
possibility that the erosion in labor market performance that we’ve seen
in the United States over the past five years may be highly persistent,
even under appropriate monetary policy.”

There are important policy implications for the Fed, he said.

The debate over whether labor market changes are “largely
reversible under appropriate monetary policy” or are “likely to be
highly persistent” means that “the FOMC is confronted with an unusually
high degree of uncertainty about the level of ‘maximum employment’ it
can achieve,” he said.

“This uncertainty translates directly into a corresponding
uncertainty about the appropriate approach to policy,” he continued. “In
particular, policymakers who see the deterioration in labor market
performance as reversible using monetary policy will typically favor
more accommodative policy than those who view the deterioration as more
protracted.”

Kocherlakota said that, for him, the inflation rate is key to
determining how close the Fed is to the maximum achievable level of
employment or the minimum achievable level of unemployment. And the
signals are not good, he suggested.

“Inflation was distinctly higher in 2011 than in 2010 and continues
to run above the FOMC’s target of 2%,” he noted. “Even core measures of
inflation, which strip out energy goods and services, and food, went up
notably.”

“I see these changes as a signal that our country’s current labor
market performance is much closer to ‘maximum employment,’ given the
tools available to the FOMC, than the post-World War II U.S. data alone
would suggest,” he said.

And he added, “appropriate monetary policy should be responsive to
such signals.”
___________________________

ABSOLUTE BULLSHIT!!!
___________________________


NDAA 2013: Congress approves domestic propaganda



Propaganda is the transfer of information, ideas or rumors to purposely help or harm a person, and governments use such tactics to manipulate people’s thoughts and opinions. The United States spends approximately $4 billion per year for propaganda efforts in countries such as Iraq and Afghanistan, but now a new defense bill is hoping to increase the budget to implement propaganda in America. Lucy Steigerwald, associate editor for Reason Magazine, joins us with her thoughts on the issue.
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Ask yourself:  Is Greece really the biggest threat to the World Economy?

No, but the TPTB [The Powers That Be] are determined that you believe this is so.

Why?

Because the biggest threat to the World Economy is the TPTB themselves.  Why else is the unraveling of JP Morgan's $70 TRILLION derivatives position being kept in the dark while we are bombarded 24/7 with the   "horrific prospect" of Greece leaving the Euro?

Did you know that there are 27 countries in the European Union, and ONLY 17, the Euro Zone, of them "presently" use the Euro as their currency?

European Union

The European Union (EU) i/ˌjʊrəˈpənˈjnjən/ is an economic and political union or confederation[10][11] of 27 member states which are located primarily in Europe.[12] The EU traces its origins from the European Coal and Steel Community (ECSC) and the European Economic Community (EEC), formed by six countries in 1958. In the intervening years the EU has grown in size by the accession of new member statesand in power by the addition of policy areas to its remit. The Maastricht Treaty established the European Union under its current name in 1993.[13] The latest amendment to the constitutional basis of the EU, the Treaty of Lisbon, came into force in 2009.

The EU operates through a system of supranational independent institutions and intergovernmental negotiated decisions by the member states.[14][15][16] Important institutions of the EU include the European Commission, the Council of the European Union, the European Council, the Court of Justice of the European Union, and the European Central Bank. The European Parliament is elected every five years by EU citizens.

The EU has developed a single market through a standardised system of laws which apply in all member states. Within the Schengen Area (which includes EU and non-EU states) passport controls have been abolished.[17] EU policies aim to ensure the free movement of people, goods, services, and capital,[18] enact legislation in justice and home affairs, and maintain common policies on trade,[19] agriculture,[20] fisheries and regional development.[21] A monetary union, the eurozone, was established in 1999 and, as of January 2012, is composed of 17 member states. Through the Common Foreign and Security Policy the EU has developed a limited role in external relations and defence. Permanent diplomatic missions have been established around the world. The EU is represented at the United Nations, the WTO, the G8 and the G-20.

With a combined population of over 500 million inhabitants,[22] or 7.3% of the world population,[23] the EU generated a nominal GDP of 16,242 billion US dollars in 2010, which represents an estimated 20% of the global GDP when measured in terms of purchasing power parity.[24]

Eurozone

The eurozone ( pronunciation (help·info)), officially called the euro area,[7] is an economic and monetary union (EMU) of 17 European Union (EU) member states that have adopted the euro (€) as their common currency and sole legal tender. The eurozone currently consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. Most other EU states are obliged to join once they meet the criteria to do so. No state has left and there are no provisions to do so or to be expelled.

Monetary policy of the zone is the responsibility of the European Central Bank (ECB) which is governed by a president and a board of the heads of national central banks. The principal task of the ECB is to keep inflation under control. Though there is no common representation, governance or fiscal policy for the currency union, some co-operation does take place through the Euro Group, which makes political decisions regarding the eurozone and the euro. The Euro Group is composed of the finance ministers of eurozone states, however in emergencies, national leaders also form the Euro Group.

Since the late-2000s financial crisis, the eurozone has established and used provisions for granting emergency loans to member states in return for the enactment of economic reforms. The eurozone has also enacted some limited fiscal integration, for example in peer review of each other's national budgets. The issue is highly political and in a state of flux as of 2011 in terms of what further provisions will be agreed for eurozone reform.

On occasion the eurozone is taken to include non-EU members who use the euro as their official currency. Some of these countries, like San Marino, have concluded formal agreements with the EU to use the currency and mint their own coins.[8] Others, like Kosovo and Montenegro, have adopted the euro unilaterally. However, these countries do not formally form part of the eurozone and do not have representation in the ECB or the Euro Group.[9]

The probability that the expulsion of Greece from the Euro Zone will cause the demise of the World Economy is ABSOLUTE BULLSHIT!

Greece is a smokescreen, the ultimate in PROPAGANDA.  Greek debt pales in comparison to the debt bombs residing behind the curtains of the like of JP Morgan, Goldman Sachs, Citi Bank, Morgan Stanley, and Bank Of America.

Stop and consider for just a moment:

Why should the people of Greece...or Spain, Portugal, Italy, Ireland...yada-yada...be forced to make good on the losses of banks Dumb enough to loan people money they knew couldn't pay it back?

Why have American Taxpayers been forced to bail out banks dumb enough to loan people money to buy homes they knew couldn't afford to pay those loans back?

The only way to end and overcome the Global Financial Crisis is for the people of the world to give the banks the one finger salute!


Austerity has failed. You won’t see that in any of the headlines from the media propaganda machine, and for a very good reason: our intellectually bankrupt governments have no "Plan B." … Jeff Neilson
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Bill Holder: [ http://lemetropolecafe.com ] [SUBSCRIBE TO PLANET GATA]

Who you gonna believe?

To all; the simple answer to the title?...The Austrians. Why? Because they have been right since before 1999 (really since 1913) AND for all the correct reasons. Yes, it was the Austrians who screamed "bubble" in 1998 and '99 about technology, it was the Austrians screamed "bubble" from 2004 to 2006 about real estate and it has been the Austrians screaming at the top of their lungs about the debt bubbles engulfing the globe. The thing is, the Austrians (like Ron Paul) have been demeaned, slandered and laughed at for years and years while all the while being absolutely correct (many times quite early) for all the right reasons.

Right now, we are exactly "where" the Austrians said we would arrive. The banking system is upside down, individuals are either bankrupt, going bankrupt or cannot and will not take on more debt. Sovereign governments have literally bankrupted themselves over the last 5 years trying to prolong and continue a system that in fact is a Ponzi scheme and cannot survive. It has been and still is the Austrian schoolers (scholars) that maintain that the problem is "the money" or the fact that the "money" that is used today is fake and in the end, utterly worthless. It was the Austrians who foretold of today's economic agonies, not the Keynesians, not the Monetarists, not CNBC's cheerleaders, no, just the Austrians and those who use just plain common sense.

So why do point this out and toot the horn of Austrian economics? Because what is happening now will affect you and your families fortunes for several generations and you need to follow the words of those who have been right for the right reasons and forecast the current endgame. If you did nothing else other than scratching the surface to find out the investment of choice currently of the Austrians it would be worth it. As you know, their "investment of choice" is Gold and Silver. They choose Gold and Silver because they ARE money in it's truest and most raw form.

Today, the Dollar is trading up versus the Euro which historically puts price pressure on commodities and sometimes Gold and Silver because at times they are viewed as commodities. With where we are and what is happening currently, Gold and Silver are NOT commodities. They are monies and the only monies that will save "investors" from what is happening. Europe is now in a currency crisis. This will be followed by Britain, Japan and let's not forget the "root of the problem", Dollars.

I am writing this because short term ANYTHING can happen from here and you MUST NOT be fooled into giving up your insurance. Truly, the ONLY monetary assets today that have true intrinsic value are Gold and Silver, NOTHING else does. Not Dollars, not Euros, Pounds, Yen or soon to be Drachmas, not certificates of deposit, not T-Bills or any other sovereign paper, NOTHING. Even if through paper games and margin calls, were Gold to trade down $200-300 or more, you cannot give it away for ANYTHING paper. Paper everything and anything can and will default either outright or through debasement, metals cannot and will not.

For Gold and Silver to be "down" based on the possibility that a bankrupt country may or may not exit a bankrupt currency union is a joke. A joke especially when the "chosen" alternative is another currency that is even more bankrupt and more fraudulent. Everything that "we" (Austrians) have told you all along have come true (given some patience), this final chapter where Gold and Silver become "re-monetized" during sovereign defaults will be no different. Have patience, have conviction and relax, don't let yourself get panicked out of the only assets that will save your butts when the current monetary system collapses into worthlessness. Regards, Bill H.
__________________________

Key Comex Dates For Gold In the Next Two Weeks

Here are some key dates on the Comex for the Gold Futures and Options.

Tomorrow is the June Gold Options Last Trade and Settlement Date

Next week is the Last Trade and Settlement for the Gold futures contract.

This is historically a heavy physical delivery period for gold and silver.

I suspect that this latest price action is less about Europe and Greece, and more about Chicago and New York.


May 24
OG - June 2012 Gold American Options - Last Trade Date
OG - June 2012 Gold American Options - Settlement Date


May 29
QO - June 2012 COMEX miNY Gold - Last Trade Date
QO - June 2012 COMEX miNY Gold - Settlement Date
GC - May 2012 Gold - Last Trade Date
GC - May 2012 Gold - Settlement Date


May 31
GC - May 2012 Gold - Last Delivery Date
GC - June 2012 Gold - First Notice Date


June 1
GC - June 2012 Gold - First Delivery Date
http://jessescrossroadscafe.blogspot.com/2012/05/key-comex-dates-for-gold-in-next-two.html
____________________________


Got Gold You Can Hold?

Got Silver You Can Squeeze?

IT'S NOT TOO LATE TO ACCUMULATE!!!

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