Economy

(Guardian) – Michele Bachmann, queen of the right

She says Obama is making the US ‘a nation of slaves’ – and her campaign is raking in millions. So just how far can Michele Bachmann go? Read More Here

(GlobalFire) – Bernanke must print 40 Trillions now, 100 Trillion next year, 200, 500, 1000 …

Game is over. In 2009 US-debt (55 Trillion Dollars) matched with GWP (Gross World Product, 58 Trillion). It is incomprehensible but true: America’s total money supply (M3) is around $15 trillion while the US national and private debt total around $55 trillion. How is America paying an existing $55 trillion in debt with a total of $15 trillion money supply? The US is short $40 trillion only this year. Where will that money come from? Read More Here

(DailyFinance) – The Jobless Effect: Is the Real Unemployment Rate 16.5%, 22%, or. . .?

Raghavan Mayur, president at TechnoMetrica Market Intelligence, follows unemployment data closely. So, when his survey for May revealed that 28% of the 1,000-odd households surveyed reported that at least one member was looking for a full-time job, he was flummoxed. Read More Here

(AmericanFederal) – Rare Coin Reporting Legislation PASSES

ICTA (The coin industry government watchdog) released a statement stating “As of January 2012, you will be required to report ALL goods and services in excess of $600 on a 1099 form.” “this is not merely proposed – this provision is already law as part of the massive Health Care Reform Act.”

UNDER THIS LEGISLATION RARE COINS ARE NO LONGER EXEMPT FROM REPORTING Read More Here

(NYTimes) – Video: Changing Stance, Administration Now Defends Insurance Mandate as a Tax – Video Link Here

(NumismaticNews) – $600 Sale? Get Ready for Tax Form – Read More Here

(AlterNet) – How the Sneaky Hands of the Big Banks Are Working Overtime to Rip You off

The economy is crumbling and consumers are in trouble. So banks are hitting them with $38 billion a year in deceptive fees. Read More Here

(BusinessInsider) – The Global Double Dip Has Arrived

The global economy, artificially boosted since the recession of 2008-2009 by massive monetary and fiscal stimulus and financial bailouts, is headed towards a sharp slowdown this year as the effect of these measures wanes.

Worse yet, the fundamental excesses that fueled the crisis – too much debt and leverage in the private sector (households, banks and other financial institutions, and even much of the corporate sector) – have not been addressed. Read More Here

(Telegraph) – Mystery trader buys all Europe’s cocoa

Even Willy Wonka might struggle to use this much chocolate. Yesterday, somebody bought 241,000 tonnes of cocoa beans. Read More Here

REPOST (Guardian) – Police could lose ‘up to 60,000 officers’ – Read More Here

(Telegraph) – Arizona turns off speed cameras

Arizona has turned off every speed camera on its highways after complaints that they violated privacy and were designed to generate revenue rather than promote road safety. Read More Here

(MailOnline) – Drivers clobbered: Fines could rocket to fill massive gap in Ministers’ spending plans

Officials want to raise the controversial Victims’ Surcharge, which is added to court fines for speeding and other minor offences, from £15 to as much as £30. Read More Here

(ZeroHedge) – Rust Discovered On Bank Of Russia Issued 999 Gold Coins – Tyler Durden

Here’s a head scratcher: as everyone knows from elementary chemistry courses, gold is the most inert metal in the world – it does not rust, nor corrode. Yet this is precisely what Russian commercial precious metal trading company, International Reserve Payment System, discovered on thousands of (allegedly) 999 gold coins “St George” (pictured insert) issued by the Central Russian Bank. Read More Here

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