Economy

(Vlog) – Video: Peter Schiff – Income Tax vs Consumption Tax – Video Link Here

(RevolutionaryPolitics) – Why Are Silver Sales Soaring?

The U.S. Mint just reported another record, but this time it wasn’t for gold. The Mint sold more Silver Eagles in March and in the first quarter of the year than ever before. A total of 9,023,500 American Silver Eagles were purchased in Q110, the highest amount since the coin debuted in 1986. Read More Here

(MarketWatch) – Paulson & Co. not charged in SEC suit against Goldman

Paulson & Co. became enmeshed in a Securities and Exchange Commission civil lawsuit filed Friday against Goldman Sachs Group Inc. But the hedge-fund giant wasn’t charged. Read More Here

(Breitbart) – California jobless rate swells to 12.6 percent

California’s unemployment rate hit a modern record of 12.6 percent in March, though it rose only a fraction over the previous month, the state Employment Development Department reported Friday. Read More Here

(GlobalResearch) – The Economic Crisis in the UK: Inflation and Debt Default Bankruptcy – Read More Here

(RealNews) – Video: Can US Dollar Remain World’s Currency? – Video Link Here

(InfoClearingHouse) – Housing Crash Update: There’s A World of Pain Ahead – Mike Whitney

The brief period of stabilization in housing appears to be over and the next leg-down has begun. Mortgage rates are edging higher, foreclosures are on the rise, and the government programs that supported the sector, are being phased out. Read More Here

(Bloomberg) – Goldman Sachs Sued by SEC for Fraud on Mortgage-Backed CDOs

Goldman Sachs Group Inc. was sued by U.S. regulators for fraud tied to packaging and selling collateralized debt obligations that contributed to the worst financial crisis since the Great Depression. Read More Here

(WRH) – Vote Fraud and the Bankruptcy of the United States

Note: This article first appeared as a post written by myself(Michael Rivero) at Free Republic in late 2000. I was surprised to learn that it was copied re-posted at dozens of sites around the world. So, it seems only fitting that the article should re-appear here on my own web site. Read More Here

(MyBudget360) – The Great American Bank Heist – On the Day we Reach a Monthly Foreclosure Filing Record Banks Announce Record Profits and the Stock Market is up 80 Percent – Read More Here

(WashingtonsBlog) – Yet Another Reason To Break Up The Big Banks – Read More Here

(RawStory) – Wamu bankers sang ‘I like big bucks and I cannot lie’ before bank failed – Read More Here

Video: Ron Paul vs. Ben Bernanke at JEC Hearing April 14, 2010 – View Video Here

(Reuters) – Markets could be derailed again, warns Soros

Railway porter-turned-billionaire financier George Soros delivered a stark warning last night that the financial world is on the wrong track and that we may be hurtling towards an even bigger boom and bust than in the credit crisis. Read More Here

(CommodityOnline) – Silver prices to zoom if manipulation is proved

As the CTFC begins to investigate claims by a whistle blower that the precious metals markets have been manipulated by several large US banks, investors are left to ponder: “What will happen to silver if manipulation is found?” Can you say, payday? Read More Here

(ZeroHedge) – March Foreclosures Surge To Absolute Record, At 369,491, 19% Jump from February

RealtyTrac reports the next catalyst that will surely take the Dow to 12,000 by 9:31 am tomorrow. “Foreclosure filings were reported on 367,056 properties in March, an increase of nearly 19 percent from the previous month, an increase of nearly 8 percent from March 2009 and the highest monthly total since RealtyTrac began issuing its report in January 2005.” And people were wondering where consumers get all their money from. Read More Here

(USDepartmentofLabor) – Unemployment Insurance Weekly Claims Report

In the week ending April 10, the advance figure for seasonally adjusted initial claims was 484,000, an increase of 24,000 from the previous week’s unrevised figure of 460,000. The 4-week moving average was 457,750, an increase of 7,500 from the previous week’s unrevised average of 450,250. Read More Here

(ZeroHedge) – Morgan Stanley Warns Germany May Decide To Secede From EMU

A fantastic overview of all the game theory aspects embedded in the European crisis, from Joachim Fels, head of Euro research at Morgan Stanley.

* Somewhat paradoxically, the show of solidarity for Greece by other euro area members and the ECB raises the risk that the euro will break apart eventually.
* Seceding from the euro area to devalue is very costly and risky. But seceding to revalue and introduce a harder currency is easier. Germany might opt to do so one day.
* The road to such a break-up scenario leads through even more fiscal profligacy and divergence in the euro area, a politicisation of monetary policy, and a weaker currency. Recent events suggest that the trip down this road has started.
Read More Here

(CNBC) – Video: Eric Sprott on the Economy, the Markets, and the PHYS Gold Trust

Economy

(CNN) – Jobless claims up 12% in past 2 weeks

The number of Americans filing for initial unemployment insurance surged to just below the 500,000 level last week, and have climbed more than 12% over the past two weeks, the government said Thursday. Read More Here

(HuffingtonPost) – The IMF Destroys Iceland and Latvia

The International Monetary Fund operates primarily as a banker bailout machine. They cajole and tempt and confuse and threaten the leaders of governments worldwide to pay off the failed bets of the big bankers using the taxpayer funds of their countries. This has been going on a long time, at least since the early 1980s. Read More Here

(Fox) – New Jobless Claims Jumped to 496,000 as Heavy Snow Caused Rise in Layoffs

In addition, many state agencies in the mid-Atlantic and New England regions that process the claims were closed due to the storms and are now clearing out backlogs, a Labor Department analyst said. Read More Here

(SeekingAlpha) – Something Very Strange Is Happening With Treasuries

There are times in life when one witnesses something so outside the scope of normal experience, that at first you don’t see it. Read More Here

(SydneyMorningHerald) – British lender RBS plans huge bonuses despite losses

Losses at Royal Bank of Scotland narrowed sharply last year, the state-rescued lender said Thursday as it prepared to dish out bonuses reportedly totalling 1.6 billion pounds (1.8 billion euros, 2.4 billion US dollars). Read More Here

(Reuters) – EMU could collapse if one member defaults -Germany

A debt default by one euro zone member could end the single currency union but this is unlikely, the head of the German debt management agency said on Thursday. Read More Here

(Reuters) – Tax officials caught over unpaid fines

There were some embarrassed faces at Bulgaria’s tax office on Thursday after an investigation found more than 400 tax inspectors had failed to pay their traffic fines. Read More Here

Video: EMU Part 1 – If any of this surprises you, then you have been living under a rock for ten years

(LondoBell) – For some context I think I’ll open with the old classic video of Mr. Barroso denying that there has been any loss of national sovereignty for the member states of the European Union. He refers to it as a ‘pooling of sovereignty’. Various newspapers and assorted ‘normal people’ who you will have the displeasure of seeing daily in the streets continue to parrot this belief in one way or another.