Video: Paul Watson – Fed Leads America “To The Brink Of Collapse” – Alex Jones Tv

August 12, 2010 –

Video: Gerald Celente on Freedom Watch

A Plea for Freedom

(Infowars) – We are broke.

On June 5th, 1933, Franklin Delano Roosevelt signed into law the Emergency Banking Act which declared America bankrupt and insolvent.  Twenty years after the 1913 Federal Reserve Act authorized a private central bank to loan money to the government at interest, the country declared its bankruptcy.  Twenty years after the Federal Reserve Act was passed, Congress enacted House Joint Resolution 192, to “Suspend the Gold Standard and Abrogate the Gold Clause” and the nation became insolvent.  Just twenty years after the Federal Reserve Act became law, gold at twenty dollars an ounce was inflated by FDR to twenty-nine dollars an ounce, confiscated with the passing of the Gold Reserve Act in 1934, and then inflated again to thirty-five dollars an ounce.

Video: Gerald Celente on RegularGuys Radio – Why We are in a big hole

(RegularGuysRadio) – August 4, 2010 –

The first four steps toward our fight to win back the Republic

(TGBReport) – Government from Federal all the way down to the local level has been transformed from the elected officials working for us to us working for them.  We need to send a message this election season that it is not about Republican or Democrat, Conservative or Liberal, it is about Insiders vs “We the People”.  We must first ans foremost  start by understanding our Constitutional duty to be informed on what are the President, Senators, Congressman, Governors, State Assembly, County and Township elected officials.

HR 1207 Hall Of Shame

(C4L) – The following U.S. representatives cosponsored H.R. 1207 but voted against Audit the Fed on a motion to return the Dodd-Frank Financial Reform bill to committee and add back in the thorough Audit. View More Here

Video: Ron Paul – Washington D.C. Out of Touch with The American People

Part 1 of 2

Economy

(ABC) – Factory Orders Drop More Than Expected – Read More Here

(CNNMoney) – Job recovery hits a wall – Read More Here

(Independent) – Johann Hari: How Goldman gambled on starvation

Speculators set up a casino where the chips were the stomachs of millions. What does it say about our system that we can so casually inflict so much pain? Read More Here

(ATR) – Six Months to Go Until The Largest Tax Hikes in History

Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below Read More Here

(ABCNews) – Walmart CEO Pay: More in an Hour Than Workers Get All Year? – Read More Here

(Telegraph) – Middle class families face a triple whammy

You don’t usually expect radical neo-Marxism from the International Monetary Fund – the last great bastion of capitalism, spreading the gospel about the free market to the furthest reaches of the world. And yet, hidden away in an obscure IMF report a few years back is a short sentence that explains precisely the problems that Britain, and the rest of the Western world, have been sleepwalking towards for years.

The claim made by the IMF’s Financial Stability Report in 2005, in a seemingly throwaway remark, was that households had become the financial system’s “shock absorber of last resort”. In other words, whereas in previous eras, much of the pain of recession and financial crisis was borne by businesses or governments, with families afforded some degree of protection by the pensions system or welfare state, it was now households who were far more likely to face the music. Read More Here

(HuffingtonPost) – Expired Unemployment Benefits Causing Panic, Desperation: ‘I’m Drowning Fast’

Debra Rousey of Gainesville, Georgia, says that she received an unemployment check of $194 last week, half the usual amount she receives, along with a letter announcing that this check would be her last. She is now in a complete panic over what to do next. Read More Here

(DailyCrux) – Doug Casey: Going to these colleges serves no useful purpose whatsoever

There is no point at all in going to a college today, unless you’re looking to learn a trade. Or, perhaps, because the people you meet in college might be of some future benefit to you. In other words, it’s pointless unless it’s Harvard, Princeton, Yale, or the like. Because of the classes? No. It’s because the kids that go to such schools are the most intelligent and ambitious “up and comers” – so the connections you make and the patina you get at these places can open a lot of doors. Read More Here

(FoxNews) – Pelosi: Unemployment Checks Fastest Way to Create Jobs“It creates jobs faster than almost any other initiative you can name.” Read More Here

(July 1) – Video: Alex Jones Tv – Dollar Plunges After UN Call To Ditch Greenback! – Video Link Here

(July 1) – Video: Ron Paul – 114 Flip Flop on Audit The Fed Causing Bill to Fail 229 – 198

(AFP) – US jobless claims surge more than expected – Read More Here

(Bloomberg) – Goldman Sachs Pressed By Born for Derivatives Data

Goldman Sachs Group Inc. refused a request from the Financial Crisis Inquiry Commission to reveal how much it makes trading derivatives, saying the bank doesn’t separate the figure from other businesses. Read More Here

(CNNMoney) – House passes unemployment benefits extension

After a failed attempt earlier this week, the House voted to extend the deadline to file for federal jobless benefits Thursday. But the bill will be stuck in limbo as Congress takes a weeklong summer break.

The bill would extend the deadline to file for extended unemployment benefits through November, and would retroactively pay out claims to those who saw their benefits expire in May. Read More Here

(LRCBlog) – Audit-the-Fed Goes Down, 229-198

This is no surprise. Neither party wants to audit the counterfeiting enterprise that is at the dark heart of the regime. Read More Here

(EconomicCollapseBlog) – Mortgage Horror Stories: The U.S. Housing Industry Will Never Recover If Qualified People Can’t Get A Home Loan – Read More Here

(IrishTimes) – One million protest against Italy’s austerity cuts

About 100,000 people, according to union estimates, demonstrated in the central city of Bologna, capital of a traditionally leftist area with a strong labour movement. Read More Here

(TheHill) – Top Republican: Raise Social Security’s retirement age to 70

Boehner, the top Republican lawmaker in the House, said raising the retirement age by five years, indexing benefits to the rate of inflation and means-testing benefits would make the massive entitlement program more solvent. Read More Here

(USAToday) – National debt soars to highest level since WWII

The federal debt will represent 62% of the nation’s economy by the end of this year, the highest percentage since just after World War II, according to a long-term budget outlook released today by the non-partisan Congressional Budget Office. Read More Here

Climategate

(WattsUpWithThat) – New Zealand’s Prime Minister: Climate Change bill a “load of rubbish” and “hoax”

Via Andrew Bolt in email, some surprising revelations about New Zealand’s Prime minister and his previous opinion of the ETS. It appears he has done a complete about face from his very strong opinions of 2005. Read More Here

(WattsUpWithThat) – Climate Craziness of the Week: The AGU peddles a mammoth climate change theory – Read More Here

Video

(RawStory) – Video: MSNBC’s Ratigan – Stock market an ‘obviously corrupt’ fraud

On his afternoon show Tuesday, MSNBC host Dylan Ratigan explained why he believes the usual explanations given in the media for why the stock market went up or down on a given day are nonsense.

“Seventy percent of the volume [of trades on the stock market] is computers that are run by the banks playing ping pong with stocks for 10 seconds at at time,” Ratigan said.

Video: Coast to Coast AM with Jim Marrs

Author and investigative journalist Jim Marrs talked about why he believes the International Elite are using economic collapse, man-made disease, and erosion of civil liberties to take down America. He referred to the US as a “zombie nation” because citizens and the country itself are trillions of dollars in debt. JFK ended up dead not longer after he issued $4.2 billion in currency that was printed by the Treasury instead of the Federal Reserve (in reality, a group of 12 banks that charge interest), he noted.

“They’re setting us up for a really big fall– because the United States has been a free nation and a republic,” and the biggest stumbling block to their plan for a New World Order– a global socialist state broken into three economic blocks (as George Orwell predicted in 1984), Marrs laid out. Rather than conservatives or liberals, Democrats or Republicans, he said the Global Elite is made up of various wealthy individuals– many Cabinet members of the last four administrations have been members of the CFR (Council on Foreign Relations), he added.

Economy

(FoxBusiness) – Video: Ron Paul, Judge Andrew Napolitano on Money Rocks – Financial Reform – View Video Here

(CSPAN) – Video: Ron Paul on Audit the FED – Video Link Here

(FoxBusiness) – Video: Ron Paul on FOX Business News on the Fed – Video Link Here

(PaulWatson) – Dollar Plunges After UN Call To Ditch Greenback

U.S. economy enters “total freefall” as double-dip recession looms Read More Here

(Telegraph) – Time to shut down the US Federal Reserve? – Read More Here

(Forbes) – Why The Greater Depression Still Lies Ahead

If policymakers do not understand the real cause of a problem, they will in all likelihood be unable to provide a genuine solution. Read More Here

(AP) – May pending home sales tumble without tax credits

The National Association of Realtors said Thursday its seasonally adjusted index of sales agreements for previously occupied homes dropped 30 percent in May from April. The index fell to 77.6 from 110.9. May’s reading was the lowest dating back to 2001. Read More Here

(AP) – 1.3 million unemployed won’t get benefits restored – Read More Here

(LondonTelegraph) – Prices rise as New Zealand passes emissions trading scheme

Petrol and power prices have risen sharply in New Zealand after the government introduced a controversial emissions trading scheme. Read More Here

(TheHill) – Waxman to Push Carbon Tax in Conference if Senate Falls Short – Read More Here

(RealClearPolitics) – Video: “Stop Spending!”: CNBC’s Santelli Warns Liesman “November 2nd Is The Day”

“I want this government to stop spending! Stop spending! Stop spending! Stop spending! STOP SPENDING! That’s what we want! Stop spending,” Rick Santelli yelled from the floor of the Chicago Board of Traders. Read More Here

(RussiaToday) – Video: Gerald Celente go for the Gold – Video Link Here

Also: Video: Gerald Celente With Jim Blasingame – June 22 2010 – Part 1 – Part 2

Video: Peter Schiff on Wall St. Unspun – Part 1 of 6 Here

(McClatchy) – Video: Goldman admits it had bigger role in AIG deals – Video Link Here

(Rense) – Who Will Pay – Wall Street Or Main Street? – The Tobin Tax Of The VAT? – Ellen Brown

Wall Street banks have been saved from bankruptcy by governments that are now going bankrupt themselves; but the banks are not returning the favor. Instead, they are engaged in a class war, insisting that the squeezed middle class be even further squeezed to balance over-stressed government budgets. All the perks are going to Wall Street, while Main Street slips into debt slavery. Wall Street needs to be made to pay its fair share, but how? Read More Here

(LATimes) – With federal stimulus funds running out, economic worries grow

Much of the $787-billion stimulus has been spent, creating jobs and extending jobless benefits. But with lawmakers reluctant to approve more funding, concerns are rising about staving off another recession. Read More Here

(Reuters) – Nearly 1 in 3 first-quarter home sales a foreclosure: report – Read More Here

(BusinessInsider) – RBS: Equity Investors Are The “Worst Cult In History,” Prepare For The “Cliff Edge” – Read More Here

(WebOfDebt) – “Deficit Terrorism” and Economic Warfare – Ellen Brown

All the Perks are going to Wall Street, while Main Street slips into Debt Slavery Read More Here

(GlobalResearch) – Stimulus or Austerity: The People vs. the Banks – Shamus Cooke

The most powerful nations in the world met recently at the G-20 in Toronto and managed to agree on only one thing of significance: the need to reduce deficits, “half by 2013.” Implied by the statement is the need to lower deficits via “austerity,” meaning eliminating or reducing social programs.

Why does every mainstream political pundit or corporate CEO fanatically agree that reducing deficits is the most important thing to do now? Let Obama explain: Read More Here

(InternationalForecaster) – Struggling and Faltering to Manage Economic Recovery – Bob Chapman

No Austerity, full steam ahead, Faltering markets, threats to social stability, Europe struggling with PIIGS, No end in California, economic disasters in the making, an oil soaked letter in Louisiana, consumer spending is uninspiring, Read More Here

25 Signs That Almost Everyone Is Expecting An Economic Collapse In 2010

At times like these, it is hardly going out on a limb to say that we are headed for hard economic times.  In fact, it seems like almost everyone in the financial world is either declaring that a recession is coming or is busy preparing for one.  The truth is that bad economic signs are everywhere.  Consumer confidence is plummeting, big banks are hoarding cash, top financial experts are issuing recession warnings and it seems like almost everyone is trying to accumulate as much gold as possible.

Video: Alex Jones Sunday Edition – USA Going into Receivership!!

(June 27) – Alex covers the latest financial news and discusses how america is headed for receivership like Greece!

Economy

(GunsNButter) – Audio: On the Destructive Nature of the Global Economic System – Bonnie Faulkner Interviews Michel Chossudovsky – Audio Link Here

(NYTimes) – NY Times’ Krugman: We Are Entering The Third Depression

We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted by the absence of jobs — will nonetheless be immense. Read More Here

(CNN) – Video: Clinton – U.S. Budget Is Broken – View Video Here

(LondonTelegraph) – RBS tells clients to prepare for ‘monster’ money-printing by the Federal Reserve

As recovery starts to stall in the US and Europe with echoes of mid-1931, bond experts are once again dusting off a speech by Ben Bernanke given eight years ago as a freshman governor at the Federal Reserve. Read More Here

(LewRockwell) – Suiting Up for a Post-Dollar World

The global financial crisis is playing out like a slow-moving, highly predicable stage play. In the current scene, Western governments are caught between the demands of entitled welfare beneficiaries and the anxiety of bondholders who fear they will be stuck with the bill. As the crisis reaches an apex, prime ministers and presidents are forced into a Sophie’s choice between social unrest and bankruptcy. But with the “Club Med” economies set to fall like dominoes, the US Treasury market is not yet acting the role we would have anticipated. Read More Here

(StarAdvertiser) – Huge tent city takes root

Homeless camps cover 50 acres, from Waipio Point, around Middle Loch to Pearl City Read More Here

REPOST – (WSWS) – Senate Democrats and Obama abandon the jobless

Senate Democrats gave up efforts to extend unemployment benefits for millions of jobless workers after the third vote on overcoming a Republican filibuster failed. The final vote Thursday was 57 to 41, three votes short of the 60 necessary to cut off debate, with one Democrat, Ben Nelson of Nebraska, joining a unanimous Republican opposition. Read More Here

(Bloomberg) – Merkel Warns European Crisis is Far From Over, Wall Street Journal Reports – Read More Here

(GlobalResearch) – BOOK LAUNCH: The Global Economic Crisis: The Great Depression of the XXI Century – Michel Chossudovsky and Andrew Gavin Marshall – Read More Here

(EurasiaReview) – Europe’s Fiscal Dystopia: The “New Austerity” Road – Michael Hudson

Europe is committing fiscal suicide – and will have little trouble finding allies at this weekend’s G-20 meetings in Toronto. Despite the deepening Great Recession threatening to bring on outright depression, European Central Bank (ECB) president Jean-Claude Trichet and prime ministers from Britain’s David Cameron to Greece’s George Papandreou (president of the Socialist International) and Canada’s host, Conservative Premier Stephen Harper, are calling for cutbacks in public spending. Read More Here

(BBC) – Romania plans big VAT rise to secure bail-out funds – Read More Here

(RegionalTimes) – IMF stops next tranche of loan to Pakistan till imposition of VAT Read More Here

Climategate

(LATimes) – Senate Democrats poised to start energy bill

With the gulf oil spill creating political opportunity, Senate Democrats will begin crafting a sweeping energy bill this week that could include a first-ever, though more modest, cap on global-warming pollution, believing they must act now despite differences within their ranks and political jitters in an election year.

(Guardian) – Gillard bids to revive Australia’s stalled carbon trading scheme

Australia’s new prime minister, Julia Gillard, today moved to revive a stalled carbon trading scheme, pledging more consultation with industry and voters to win support for an issue that has divided the nation. Read More Here

Economy

(MercuryNews) – Defeat of jobs bill in Senate costly to California

Hundreds of thousands of jobless residents will see their unemployment checks cut off. The deficit-plagued state budget stands to lose billions of desperately needed dollars. And a tax credit for research and development, long prized by the tech industry, appears to be on life support. Read More Here

(Telegraph) – Ben Bernanke needs fresh monetary blitz as US recovery falters

Federal Reserve chairman Ben Bernanke is waging an epochal battle behind the scenes for control of US monetary policy, struggling to overcome resistance from regional Fed hawks for further possible stimulus to prevent a deflationary spiral. Read More Here

(InfoClearingHouse) – Mission Accomplished:The Reagan Occupation and the Destruction of the American Middle Class – Read More Here

(WoodTV) – 400k unemployed in MI to lose benefits

Comes on heels of GOP killing Senate extension Read More Here

(WeAreChange) – We are Change Plans End the Fed protest on Independence Day

We Are Change groups from MD, VA and DC have joined togeather to hold an End The Fed protest in Washington DC in honor of Independence Day. The event will be on Saturday, July 3rd and the permits are already in. Read More Here

(KDVRDenver) – Bank of America, Freddie Mac Sell Homes Without Notice – Read More Here

(USAToday) – Obama Gets “Financial Reform” Bill as He Heads for G20

“We are poised to pass the toughest financial reform since the ones we created in the aftermath of the Great Depression,” Obama said at the White House as he prepared to leave for the G-20 summit in Canada. Read More Here

(WPost) – New Financial Overhaul Gives Government Broad New Powers To Seize Financial Firms – Read More Here

(BusinessInsider) – These 8 Members Of Congress Are Under Investigation For Fundraising During The Financial Reform Debate – Read More Here

(FoxNews) – Senate Republicans Defeat Jobless Aid Measure Over Deficit Fears

The Senate has failed to reach an agreement to extend weekly jobless benefits, leaving more than a million out-of-work Americans without an unemployment check by week’s end.

The 57-41 loss was a major blow for President Obama and Democrats. They needed three more votes — for a total of 60 — to stop a GOP filibuster. Read More Here

(TampaBay) – Pinellas to lay off 211 county workers

The layoffs run through virtually every department, affecting everything from parks and street repairs to customer service and health care. Read More Here

Economy

(InternationalForecaster) – Central Banking in Crisis: Some Twenty Countries on the Verge of Insolvency – Bob Chapman

Market Volatility as the Debt Implosion Continues Read More Here

(GlobalResearch) – Financial Crisis Conducive to Instability of Asia’s Currency Markets: South Korea Imposes Currency Controls – Read More Here

(GlobalResearch) – “Dying Detroit”:: The Impacts of Globalization. Social Decay and Destruction of an Entire Urban Area – Read More Here

(GlobalResearch) – The Gold Market: When Will the SEC Prosecute for Market Rigging? – Read More Here

(Telegraph) – Lord Rothschild fund joins World Gold Council to put £12.5m into BullionVault

Tim Levene of Augmentum Capital, a fund backed by Lord Rothschild’s RIT Capital Partners, said the investment was not a bet on the gold price but on “the future growth of the BullionVault platform”, which stores physical gold for private clients in London, New York and Zurich. RIT currently has 9pc of its assets in physical gold. Read More Here

(FoxBusiness) – New Home Sales Fall 33% in May to Record Low

The U.S. housing market is in crisis.

A day after a disappointing read on the market for existing homes, the government said Wednesday that sales of new homes fell to their lowest level on record last month, a potentially crushing blow for an economy that is still looking for its footing. Read More Here

(PragCap) – Russell: This is One of the Largest Tops in Stock Market History

Mr. Russell thinks we might be on the verge of a terrible collapse:
“We’re now in the process of building one of the largest tops in stock market history. The result, I think, will be the most disastrous bear market since the ‘30s, and maybe worse. Read More Here

(VoiceInTheWilderness) – Is America Destined to Starve?

Americans are no longer prepared to take care of their basic needs without the involvement of the federal government. The majority of Americans have relinquished the responsibility of their future survival to bureaucrats. How and when did we, as an intelligent and formerly self-reliant populace, decide to become wards of the state? Read More Here

REPOST – (LATimes) – Video: California city to lay off all city employees, dismantle Police Department – Video Link Here

(Reuters) – World’s rich got richer amid ’09 recession: report

A stock market rebound helped the world’s ranks of millionaires climb 17 percent to 10 million, while their collective wealth surged 19 percent to $39 trillion, nearly recouping losses from the financial crisis, according to the latest Merrill Lynch-Capgemini world wealth report. Read More Here

(DealBook) – Despite U.S. Plea, European Bank Pushes Austerity – Read More Here

Climategate

(RoySpencer) – The Global Warming Inquisition Has Begun – Read More Here

(FinancialTimes) – Obama to push climate change on back of BP spill

Barack Obama will on Wednesday make a renewed push to spur the US Senate into action on climate change, saying the BP oil spill underlines the urgency for the country to lessen its dependence on fossil fuels. Read More Here

The New World Order Government Take-Over is Well Underway

(WRH) – The New World Order Banker Cartel takeover starts with the destruction of the economic might of the United States. To accomplish this task as follows:

1) Creation of the private Federal Reserve Bank in 1913. He who prints the money controls the government. Prior to this period, whenever congress over spent, it lead to inflation or devaluation of the currency. The people reacted by voting out big spending congressmen. The Federal Reserve Bank allowed congress to spend while shielding them from voter retaliation by the people.
2) Initiate free trade agreements to bleed out the industrial might of the United States to third world countries. Trilateral Commission sponsored GATT, NAFTA and World Trade Organization.

Economy

(SteveWatson) – Gold Prices Heading For Record Highs

Gold futures surged toward record highs Thursday as the stock market and the U.S. economy continued to flounder, leaving investors seeking a safe haven in hard assets. Read More Here

(BusinessInsider) – CHART OF THE DAY: Food Prices Are About To Explode – Read More Here

(Leap2020) – Global systemic crisis / Second half of 2010: The global system’s four single points of failure

Each day the news confirm the extent to which the global systemic crisis has now entered into the phase of global geopolitical dislocation, even if the media only timidly begin to interpret the historic upheavals which unfold before our own eyes. For LEAP/E2020, the second half of 2010 will thus correspond to a new step in the global geopolitical dislocation, characterized by an acceleration in the process of strategic, financial, economic and social convulsions centered on four single points of failure Read More Here

(MSNBC) – Home builders won’t lift the economy this time

Homebuilders are sending a message: They won’t be able to contribute much to the economic recovery now that government home-buying incentives have vanished. Read More Here

(InterForecaster) – Federal Reserve Purchases U.S. Sovereign Debt – Bob Chapman

We believe an inflationary depression began in February of 2009, and little has changed. Since then factory output has increased, as have inventories and other outward signs, such as retail sales. We believe that one-year spurt is ending, unless a new stimulus program is put in place. Read More Here

(ZeroHedge) – 100 Italian Economists Say Austerity Will Destroy Europe

The Telegraph’s Ambrose Evans-Pritchard points to a letter signed by 100 Italian economists (technically Keynesianites, but in the great Ponzi, the two have become synonymous) in which they note that “the austerity strategy imposed by Brussels/Frankfurt risks tipping Europe into a self-feeding downward spiral. Read More Here

(TheStreet) – Gold Prices Reach for $1,254

Gold prices were gunning to break their record high Thursday as an uncertain stock market fueled demand for gold as a safe haven asset. Read More Here

(CNNMoney) – Out-of-work job applicants told unemployed need not apply

The last thing someone who is unemployed needs to be told is that they shouldn’t even apply for the limited number of job openings that are available. But some companies and recruiters are doing just that. Read More Here

(Reuters) – More Than 90 Banks Miss TARP Payments – Read More Here

(June 16) – Video: Alex Newman Reveals Fed Manipulations & ‘Bernanke’s Trillions’ on Alex Jones Tv

New American journalist Alex Newman talks with Alex about his latest article, Fed Manipulations in the Crosshairs. “It turns out that under the guise of “stabilizing” the economy, the Federal Reserve banking cartel had set in motion a series of actions that would eventually transfer trillions to the bankers at taxpayers’ expense, all while decimating the investments of countless average Americans,” writes Newman. Alex also covers the news and takes your calls.

Food and Depopulation: Rockefeller Family

(Infowars) –  The purpose of this article is to give a brief outline of how the elites, and the Rockefellers in particular, are using food as a weapon.

Since the Rockefeller family came to power (especially after gaining a monopoly with Standard Oil) they have manipulated our government into ruining our financial system by way of the Federal Reserve, energy through oil dependency and food with GMOs (Genetically Engineered Organisms).  The intention is to rob us blind and kill us.  It’s time to wake up.

The official name of this program is Agenda 21 Sustainable Development.

Economy

(SteveWatson) – Gold Surges As Euro Continues To Collapse

Highest gain for four weeks on fears of disintegration of Euro zone Read More Here

(Maclver) – Wisconsin Borrows $1.4 Billion from Feds for Unemployment Funds

Wisconsin’s loans place the state as one of the largest Unemployment Reserve debtors in the country. Read More Here

(Money&Markets) – The Biggest Shock of All

Why did the specter of collapse in far-away Hungary help sink the Dow by 323 points on Friday?

And why did similar scenarios in Greece, Spain, and Portugal trigger the Dow’s 1,000-point Flash Crash one month earlier? Read More Here

(ITN) – Impact of cuts will be enormous, warns PM

In a major speech on the economy, the Prime Minister will say the proposed cuts programme will affect “our whole way of life” and could be felt for decades, such is the scale of the debt problem. Read More Here

(WSJ) – Tax Hikes and the 2011 Economic Collapse – Read More Here

(Globe&Mail) – Canada wins key fight against bank tax

Proponents of such a tax ­ including the United States and Europe ­ are free to go it alone, but the new plan allows the rest of the G20 to avoid the controversial idea and find other ways to reduce banking risks. Read More Here

(DailyReckoning) – Government Desperate. Gold Tax Imminent?

The thrust is that, as Mr. Steer says, “Adrian floats the disturbing possibility that governments, looking around for easy sources of revenue, may decide to tax the private ownership of gold.” Read More Here

(EconomicCollapse) – U.S. National Debt 2010 – Read More Here

(Economicrant) – By Christmas 50,000,000 Americans will be eating at the government trough

Other presidents get the picture on paper currency. Obama should have his picture on food stamps. There are now 40 million Americans who choose to have the government feed them rather than feed themselves. This is almost 1 in 7 people who depend on government food. Now do you see how totally and completely hopeless things are? Read More Here

(BusinessWeek) – Fed Denies Bernanke Attended Bilderberg – Read More Here

(CNSNews) – U.S. Will be Like Greece in ‘Seven to 10 Years,’ Say Congressmen, Experts

Sen. Judd Gregg (R-N.H.), along with other members of Congress and leading financial experts, is warning that the United States is in danger of being in the same dire situation as Greece – national bankruptcy — in seven to 10 years if the nation doesn’t slash its debt and control spending, unless the federal government radically curtails spending. Read More Here

(ZeroHedge) – On The Imminent US Debt To GDP Parity – Tyler Durden

One of the most recurring and troubling topics on Zero Hedge is the imminent US Debt to GDP parity: even as the US economy is starting to roll over from a temporary sugar high into a double dip, the hangover effect of $2.1 trillion in debt incurred since March 2009 will linger for a long, long time. Read More Here

(BusinessInsider) – In 5 Years, UK Will Be Spending More On Interest Than Schools, Climate, And Transport Combined

Based on the calculations of the last government, in five years’ time the interest we are paying on our debt is predicted to be around £70bn. That is a simply staggering amount. No wonder the previous government refused to publish the information. Read More Here

(EconomicCollapse) – College Students This Is Your Future: High Unemployment And Student Loan Hell

Hundreds of thousands of college students all over the United States have just graduated and are getting ready for their first taste of the real world. Unfortunately for them, the real world is not always easy and it is not always fair. Read More Here

(Bloomberg) – U.S.’s $13 Trillion Debt Poised to Overtake GDP Chart of Day

President Barack Obama is poised to increase the U.S. debt to a level that exceeds the value of the nation’s annual economic output, a step toward what Bill Gross called a “debt super cycle.” The CHART OF THE DAY tracks U.S. gross domestic product and the government’s total debt, which rose past $13 trillion for the first time this month. Read More Here

(Fox) – Video: Peter Schiff on Fox Business News

Economy

(Fox) – Video: Ron Paul on FOX Business News about Gold – Video Link Here

(BeforeItsNews) – Into the Abyss: The Cycle of Debt Deflation

One of the most famous quotations of Austrian economist Ludwig von Mises is that “There is no means of avoiding the final collapse of a boom brought about by credit expansion. Read More Here

(ZeroHedge) – US Mint Out Of Not Only Silver But Gold American Eagles As Well – Tyler Durden

Update: After following up with the Mint, any shipments and deliveries of American Eagle 2010 edition both gold and silver are TBD and the mint has no idea on when these will be received if at all this year. A small shipment of American Buffalo gold coins will go on sale on June 3 at noon. The mint expects these to sell out promptly. Read More Here

(PaulWatson) – Bilderberg 2010: Globalists Panic Over Euro Collapse

Elite to seek reassurances from Spanish leaders that ultimate agenda for global currency will not be derailed Read More Here

(RawStory) – Goldman Sachs sold $250 million of BP stock before spill

Firm’s stock sale nearly twice as large as any other institution; Represented 44 percent of total BP investment Read More Here

Goldman Sachs Sold 44% of its BP stock three weeks before the Deepwater Horizon explosion – View Stocks Here

US MINT OUT OF SILVER

From the US Mint:

Production of United States Mint American Eagle Silver Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Silver Bullion Coins. Currently, all available silver bullion blanks are being allocated to the American Eagle Silver Bullion Coin Program, as the United States Mint is required by Public Law 99-61 to produce these coins “in quantities sufficient to meet public demand . . . .”

The United States Mint will resume the American Eagle Silver Proof and Uncirculated Coin Programs once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products.
Update: Due to the continued, sustained demand for American Eagle Silver Bullion Coins, 2009-dated American Eagle Silver Proof Coins will not be produced.

(ZeroHedge) – US Mint Sells More Gold Coins In May Than Any Month Since January 1999 – Tyler Durden

If anyone wants to know the reason why PHYS is once again trading at about a 10% premium to NAV all over again (yes mere days after the follow on offering) look no further than the US mint. Reuters reports that “The U.S. mint sold 190,000 1-ounce American Eagle gold coins in May, the largest number since January 1999, and the most in any month so far in 2010, according to a spokesman for the U.S. agency.” At least the mint still has gold coins to satisfy record demand. Buyers in Europe unfortunately are not so lucky, which is why in Greece recently an oz of sold for as high as $1,700. Read More Here

(ZeroHedge) – Another Blatant EUR Intervention Leads To 150 pip EURUSD Move In Seconds

With all the grace of a drunk Keynesian at an Austrian economists meeting, the Central Banks once again kill the EUR shorts and intervene to prop it up, for a ridiculous 250 pips intraday move. Read More Here

(CNBC) – Euro to Go Under $1.20 ‘Almost Certainly’: Gartman – Read More Here

(PaulWatson) – Iran To Dump 45 Billion Euros For Gold Bullion & Dollars

The Central Bank of Iran is set to dump a whopping 45 billion euros in exchange for gold bullion and dollars as Gulf states also prepare to flee from the ailing single currency amidst debt turmoil in Europe that threatens to disintegrate the entire region.

According to the Iranian state website Press TV, Iran’s central bank has already begun converting its euro reserves into gold and dollars as a response to the “downward spiral” of the euro, in the first of a three phase movement to flee from the currency. Read More Here

REPOST – (Blacklistednews) – 25 Questions To Ask Anyone Who Is Delusional Enough To Believe That This Economic Recovery Is Real

If you listen to the mainstream media long enough, you just might be tempted to believe that the United States has emerged from the recession and is now in the middle of a full-fledged economic recovery. In fact, according to Obama administration officials, the great American economic machine has roared back to life, stronger and more vibrant than ever before. But is that really the case? Read More Here

(LVRJ) – Problems continue in high-rise condo market

It really didn’t take a $40,000 study from the Sierra Club to determine that Las Vegas was overbuilt, putting a strain on natural resources. Just look at the vacant buildings. Read More Here

(BusinessInsider) – How The U.S. Is Faced With Both Rocketing Inflation And Deflation At The Same Time

Calafia Beach Pundit shows how the U.S. has been experiencing both long-term inflation and deflation at the same time. Essentially, the cost of services has been rocketing higher, just as the cost of durable goods has been rocketing lower: Read More Here

(Neithercorp) – REPOST – Warning Signs Of Full Spectrum Collapse Are Everywhere

The sovereign debt crisis in Greece and many other European nations has, at least for the moment, opened a gap in the wash of financial disinformation that has prevailed in the mainstream media for the past year. The average American is now more aware of the terrible costs of living in an artificially driven and widely manipulated “global economy”, and has also been exposed (at least for the moment) to the very real frailties in our own markets, which have been hidden or downplayed by the government as well as disingenuous establishment economists. Read More Here

(June 1) – Video: Webster Tarpley Details TIm Geithner’s “America is Finished” Comment to China on Alex Jones Tv

Alex also talks with researcher and author Webster Tarpley. Alex also covers the latest news following the holiday and takes

Giant

America: 1776-1913

A towering figure casts his shadow over the gravesite of our once great Republic.  In his hand is the murder weapon he used to seal his victim’s fate:  ‘The Federal Reserve Act of 1913.’

At his feet are the tiny, crawling vestiges of life that scramble aimlessly about the burial heap, eking out a meager existence upon the remains of what was once a vibrant and robust living organism.  He looks about the graveyard.  His victims are everywhere.  Their headstones are engraved with the names of the fallen: England, France, Spain and Germany—all of them dead.  He killed every last one.  Throughout the world he is known by many aliases:  The Elite, The Illuminati and the New World Order.

Economy

(CNBC) – Video: Nouriel Roubini – Double Dip Recession – Video Link Here

BREAKING – (TheFightOfYourLife) – Bob Chapman flashed a high priority Intel report today 05/22/10 at 1700EDT

According to high placed sources withing the Federal Reserve they will take the economy down and force all but 4 banks out of existence no later that December 31, 2010 and possibly by mid November. Read More Here

(CSPAN2) – Video: The US Government Is In Dire Physical Condition! – Senator McConnell

(NYTimes) – Cuts to Child Care Subsidy Thwart More Job Seekers – Read More Here

(FoxBusiness) – The Next Bailout: $165B for Unions

Taxpayers could be on the hook for another $165 billion if a bill to bail out private union pension funds makes it through Congress. Read More Here

(CaseyResearch) – Fact vs. Fiction on Today’s Economy

There is a lot of “noise” being tossed out by the politicos and their preferred pundits about how the U.S. economy is on the mend. Thus it is important to try and separate fact from fiction about where things really stand.
FICTION: Though sporadic, the U.S. economy will continue to improve.
FACT: The U.S. is headed for a currency crisis.
Read More Here

(Bloomberg) – Speculators Grab Gold Faster Than Mines Can Produce It

Speculators are buying gold faster than the world’s biggest producers can mine it as analysts forecast a 27 percent rally that may extend the longest run of annual gains since at least 1920. Read More Here

(Express) – Gordon Brown ‘first choice’ for top job at IMF – Read More Here

(MyBudget360) – America’s wealthiest 25 percent of households own 87 percent of all U.S. wealth. How the middle class face growing income inequality in the new era of the psychopath corporatocracy Read More Here

(MarketWatch) – Bank of Spain seizes control of savings bank CajaSur – Read More Here

(IrishTimes) – Burden of Irish debt could yet eclipse that of Greece

It is no longer a question of whether Ireland will go bust, but when. Unlike Greece, our woes do not stem from government debt, but instead from the government’s open-ended guarantee to cover the losses of the banking system out of its citizens’ wallets. Read More Here

(InternForecaster) – Dysfunctional Markets That Change Every Hour – Bob Chapman

Keeping up with today’s dysfunctional markets is very difficult because they change hour by hour. The problems of Europe have stolen center stage from US problems. The focus is on Europe, but we all should remember trillions of dollars have been injected into the US financial system since mid-2007. Read More Here

(WashingtonPost) – One false move in Europe could set off global chain reaction

If the trouble starts — and it remains an “if” — the trigger may well be obscure to the concerns of most Americans: a missed budget projection by the Spanish government, the failure of Greece to hit a deficit-reduction target, a drop in Ireland’s economic output. Read More Here

(BusinessInsider) – Louisiana Realtor: Oil Is Having “Horrible, Just Horrific” Effect On Sales

Carolyn Angelette said around 100 clients have canceled summer rentals in Grand Isle, LA. Other clients have postponed plans to buy a home until they see the full extent of oil damage. At this rate, she warns, her Century 21 office will go out of business. Read More Here

Video: California is planning to bankrupt itself

Jim Puplava talks about insane law proposals in California recorded on May 22nd 2010

(GlobalResearch) – The Banks Call the Shots on Financial Reform: The Sovereign Debt Crisis is Sweeping the World with another Credit Crunch – Danny Schechter – Read More Here

(GlobalResearch) – A “Fix” to the Economic Recession: Undermine the Rights of Public Sector Workers – Shamus Cooke

In the state of Oregon, the most widely distributed paper, the Oregonian, announced on its front page that the state should expect “Ten Years of Pain.” The perpetrator: the budget crisis — $2.5 billion in the coming two-year budget cycle, with $2 billion projected deficits until 2019. Sadly, these depressing numbers assume that the economy will recover, a belief lacking any credible evidence.

How to fix Oregon’s woes? The Oregonian answers: Read More Here

(InfoClearingHouse) – Merkel’s Savage Blitz through Euroland – Mike Whitney

Angela Merkel has let a minor brush-fire on the periphery turn into a raging inferno that’s sweeping across the continent. Absent Berlin’s fumbling diplomatic effort and its ferocious attachment to Hooverian economics, the Greek matter would have been over by now. Instead, the fire continues to burn while the German Chancellor pushes the eurozone closer and closer to the cliff. And what for; to prove that prodigal spending by the member states (Greece) mustn’t go unpunished? Is that what this is all about? Is Merkel really willing to break up the EU just to prove her point and to accommodate her towering sense of self righteousness? Read More Here

(TruthDig) – The Greeks Get It – Chris Hedges

Here’s to the Greeks. They know what to do when corporations pillage and loot their country. They know what to do when Goldman Sachs and international bankers collude with their power elite to falsify economic data and then make billions betting that the Greek economy will collapse. Read More Here

(CSPAN) – Video: Why should taxpayers be on the hook? – Ron Paul

On Thursday, Congressman Paul spoke at the House Financial Services subcommittee hearing on The Role of the International Monetary Fund and Federal Reserve in Stabilizing Europe.

He also questioned Federal Reserve Board of Governors member Daniel Tarullo and observed how continual bailouts help the big banks and the well-connected at the expense of the taxpayer.

Economy

Video: Max Keiser – GLOBAL BREAKDOWN: Gerald Celente’s latest trends – Video Link Here

Video: Schiff & King Discuss Gold & Silver: Panic Gold buying in Germany – Video Link Here

(L.A.City) – Controller Greuel Releases Audit Showing City Can’t Find 45% of Items Purchased with Taxpayer Funds – Read More Here

(Telegraph) – Hedge funds bet big on the falling euro

Hedge funds that made millions from the implosion of America’s subprime market are betting on a similarly dramatic collapse of the euro. Read More Here

(Infowars) – The 750 Billion Euro Bluff

The Germans recently approved their portion of the €750bn European bailout fund, and I think that’s all the money we will see. It’s highly unlikely that the EU has the capital to pull off the entire thing, unless the ECB starts printing money à la full-blown quantative easing. They are just trying to bluff the speculator vultures, so that they won’t start circling Portugal, Ireland and other weak EMU economies. But I think eventually the vultures will smell blood. Read More Here

(ABC) – Video: Clarke and Dawes ask the million dollar questions

John Clarke and Bryan Dawe calculate the cost of the European debt crisis. – Video Link Here

(BusinessInsider) – Will Trichet Let A Deflationary Depression Happen So He Can’t Be Accused Of Bailing Out Greece? – Read More Here

(Telegraph) – City fears of ‘Great Depression Mark II’

Leading City experts have started raising the prospect of “Great Depression II” amid worries that the European economic crisis could trigger a deeper bout of chaos. Read More Here

(EconomicPolicyJournal) – 32 States Have Borrowed from the Federal Government to Make Unemployment Payments; California Has Borrowed $7 Billion

EconomicPolicyJournal.com has learned that 32 states have run out funds to make unemployment benefit payments and that the federal government has been supplying these states with funds so that they can make their payments to the unemployed. In some cases, states have borrowed billions. As of May 20, the total balance outstanding by 32 states (and the Virgin Islands) is $37.8 billion. Read More Here

(SFGate) – Courts quash cuts, add to state’s budget woes

Designated cuts to health and human services that were rejected by federal courts alone have resulted in $4.5 billion in lost savings over the past three years, according to Gov. Arnold Schwarzenegger’s administration. Read More Here

(TIME) – Florida Braces for Oil Spill, Impact on Tourism Industry

Like an environmental version of the hurricanes that ravaged the Gulf States in 2005, the epic spill from the Deepwater Horizon rig seems almost certain to foul every coastal corner it can. After paralyzing Louisiana’s commercial fishing industry, it is threatening Florida’s $60 billion tourism business. Read More Here

(WSJ) – AIG Executives Won’t Face Criminal Charges

The decision brings to a close a criminal investigation that, while mostly under wraps, was widely followed. The September 2008 bailout of AIG was one of the biggest and most shocking of the financial crisis, as trading by a noninsurance unit brought down one of the most iconic financial companies world-wide. Read More Here

FLASHBACK – (TIME) – Scandals The Looting of Greece

The plot was an audacious one. To create the pool of crooked money, PASOK leaders had for three years ordered state-managed corporations such as the Post Office, the Organization of Urban Transportation and the State Pharmaceutical Co. to transfer large bank deposits — the country’s money, in effect — out of the big national banks into the Bank of Crete, then the / smallest private bank in the country. There, Koskotas says, he arranged for the government deposits to draw an exceptionally low rate of interest, only 2% or 3%. Bank savings accounts in Greece routinely draw 15% interest. The excess interest earned on the government deposits was siphoned off and went straight to the politicians, he says. In addition, protected and encouraged by Papandreou, Koskotas secretly plowed Bank of Crete funds into his magazines and newspapers. Read More Here

(LewRockwell) – Sell in May and Run Away . . . Fast

Stock markets all over the world are falling. The first market to begin falling was China’s. It peaked in early August of 2009. It struggled back, though not to its August peak, but is now falling. The decline is accelerating. It is down by about 25% in 2010. Read More Here

(MoneyAndMarkets) – Massive Currency and Debt Devaluations Lie Ahead

The run-up in the stock market from March 2009 until last month was sharp and rewarding … for some. But there was one problem, it came with disproportional risk. You see, the stock market rose to an extent that it was pricing in perfection … a V-shaped recovery … a return to normal.

That overly optimistic view on the world can make for an ugly ending Read More Here

(WashingtonsBlog) – The Giant Banks, Federal Reserve and Treasury Have All Blackmailed America

As I wrote last October:

Congressmen Brad Sherman and Paul Kanjorski and Senator James Inhofe all say that the government warned of martial law if Tarp wasn’t passed. And Rahm Emanuel famously said:

Never let a serious crisis go to waste. What I mean by that is it’s an opportunity to do things you couldn’t do before.

Last year: Read More Here

(RTTNews) – Massive Demonstration In Romania Protesting Austerity Measures

The demonstration by some 20,000 people, who gathered in front of the government headquarters in capital Bucharest to protest planned government wage-cuts, was one of the largest mass protests that the Eastern European country witnessed since the fall of Communism in 1989. Read More Here

(Examiner) – CAFR: US agencies have billions, trillions in investments while crying budget deficits

Gerald Klatt and Walter Burien are unrecognized heroes. These individuals are national leaders who have communicated how government agencies conceal American taxpayers’ money in surplus accounts that collectively total trillions of our dollars. The data is found in government agencies’ Comprehensive Annual Financial Reports (CAFRs). Read More Here

(SofiaEcho) – Greece prepares for massive new strike

Massive general strikes by the Greek public sector will all but paralyse much of the country as Greek trade unions launch another 24-hour general protest against planned additional austerity measures. Read More Here

(GardenHarvest) – Severe Poverty Growing Rapidly

The percentage of Americans living in severe poverty – with incomes less than half of the federal poverty line – has reached a 32-year peak. A recent analysis of 2005 census data by McClatchy Newspapers found nearly 16 million Americans living in deep or severe poverty, defined as a family of four with income of $9,903 a year or less and an individual living on less than $5,080 a year. Read More Here

Economy

(GlobalResearch) – Latin America’s New Middle Class Rulers: Stabilization, Growth and Inequality – Prof James Petras – Read More Here

(WebOfDebt) – Taking Back the Money Power: How Hidden Pools of Government Money Could Help Save the Economy – Ellen Brown

For over a decade, accountant Walter Burien has been trying to rouse the public over what he contends is a massive conspiracy and cover-up, involving trillions of dollars squirreled away in funds maintained at every level of government. His numbers may be disputed, but these funds definitely exist, as evidenced by the Comprehensive Annual Financial Reports (CAFRs) required of every government agency. If they don’t represent a concerted government conspiracy, what are they for? And how can they be harnessed more efficiently to help allay the financial crises of state and local governments? Read More Here

(Fox5Vegas) – Las Vegas Unemployment Rate At 14.2 Percent – 193,000 Out Of Work Statewide – Read More Here

(DailyKos) – A perfect storm for unemployment in June

While there is plenty of talk about the economic recovery, there is barely a whisper about what is just a few weeks ahead. It’s not any one thing. It’s a combination of three (and possibly four) different events that will deliver devastating body-blows to the economy. Read More Here

(InfoClearingHouse) – Great Depression 2.0. Bet on it – Mike Whitney

Deficits create demand. Demand generates spending. Spending generates economic activity. Economic activity generates growth. Growth generates jobs, increases government revenues, reduces deficits and ends recessions.

Simple, right? Read More Here

(Telegraph) – Whatever Germany does, the euro as we know it is dead

“Money can’t buy you friends, but it does get you a better class of enemy” – Spike Milligan
For Angela Merkel, leader of the eurozone’s richest country, a queue is forming of high-quality adversaries. As she tips German Geld und Gut into the furnace of a rescue package for the euro, while going it alone in a misguided ban on market “manipulators”, the brass-neck Chancellor has infuriated domestic voters, angered her EU partners (in particular the French) and invited the so-called wolf pack of global traders to do its worst. Read More Here

(TheFluCase) – Germany’s Parliament Votes to Give 66% of Country’s Annual Income Tax Revenue to Banks

Germany’s parliament today passed a bill that will mean that about 66 per cent of the country’s income tax revenue each year will go to banks in the form of interest payments on souvereign dent bonds held by Greece, Portugal and other eurozone nations. Read More Here

(OftWoMinds) – “Two Scoop Special”: Double-Dip Recession Guaranteed

Whether you believe the U.S. economy ever exited recession or not, a further decline is already baked in by numerous macro factors. Read More Here

(May 21) – Video: Bob Chapman’s Friday 5/21/2010 Economic Report on Alex JonesTv

Bob Chapman, publisher of the International Forecaster, a compendium of information on business, finance, economics and social and political issues worldwide. – Part 1 – Part 2 – Part 3 – Part 4 – Part 5

(May 20) – Video: Author Ellen Brown Details How to Have A State Own Bank Like N. Dakota on Alex Jones Tv

Alex also welcomes to the show attorney and author Ellen Brown. Her latest book, Web of Debt, documents the Federal Reserve and “the money trust” and shows how this private cartel has usurped power to create money from the people themselves and how we the people can get it back. Brown is the author of several other books, including Forbidden Medicine, Nature’s Pharmacy for Children: Drug Free Alternatives for More Than 160 Childhood Ailments.

Video: Ron Paul’s Texas Straight Talk

You Can Thank The Federal Reserve For The Coming Hyperinflation

See Also:

(RussiaToday) – Video:Rand Paul wins in a “Randslide” – Interview with Adam Kokesh – View Video Here

(RussiaToday) – Video: Rallying behind Rand – Interview with Shelly Roche – View Video Here

(Fox) – Video: 2010 – Year of the Political Outsider – Ron Paul and Rand Paul on Fox News – View Video Here

(SteveWatson) – Video: DNC Chairman – Rand Paul Is A Far Right “Extreme Candidate”

Commenting on Rand Paul’s historic victory in the Kentucky primary, the Democratic National Committee Chairman Tim Kaine called the would be Senator an “extreme candidate”, while other Democrats suggested Paul would be an easy target for them in the November general election.View Video Here

Video: Rand Paul’s victory speech (full) – View Video Here

(LondonTelegraph) – Rand Paul’s win could be bad news for Republicans

The biggest loser from Rand Paul’s win in the Kentucky Republican Senate primary is Mitch McConnell. Read More Here

(Politico) – Rand Paul: “We have come to take our government back” – Read More Here

(CBSNews) – Video: Rand Paul – Tea Party Ready to “Flex Some Muscle”

While critics cast the Tea Party movement as a fad and a flash in the pan, Tuesday’s Republican Senate primary in Kentucky might prove to naysayers that they indeed are a legitimate force and their backing of Dr. Rand Paul has propelled him as the front-runner for what is usually a ho-hum race. Read More Here

(RussiaToday) – Video: Rand Paul – Perfect storm, people want change

RTs Dina Gusovsky is in Kentucky to find out what she can about Rand Paul’s, son of Congressmen Ron Paul, senate campaign and the pivotal primary elections that are taking place. The primaries for the midterm elections will offer a clearer look at whos shaping up to be a powerful force in 2010 and whos struggling to stay relevant in the long midterm cycle. Dina interviewed Rand Pauls family and says that the latest polls have Rand Paul ahead by about 18%.

Monetary Dictatorship

(CampaignForLiberty) – If you’re an American taxpayer, you should expect to receive a thank-you note from dole recipients in Greece fairly soon. The reason is that Barack Obama, working with his cohorts at the Federal Reserve, is using your money to bail out the Greek welfare state, thereby enabling dole recipients in Greece to continue receiving their dole.

The problem is that for decades the Greek government has been doing what the U.S. government and many other regimes have been doing: borrowing to the hilt to fund dole payments to welfare recipients. In the hope that Euro officials would not discover how bad things were in Greece, Greek officials were falsifying their financial reports. Unlike the U.S. government which has a Federal Reserve central bank, the Greek government couldn’t simply print up the money to pay off its debts. That’s because it’s part of the Euro zone, where German officials have traditionally opposed such a policy.

MSM: Tomorrow, A Major Political Event Is Coming, As The Rand Paul Era Begins

(BusinessInsider) – Tomorrow Rand Paul will take a major step towards being the highest ranking “Tea Party” politician in the country.

Rand — whose father Ron Paul is well-known and beloved by money –appears to be a shoo-in to win his Primary contest in Kentucky.

Current polls have him solidly leading establishment rival Trey Grayson, who was endorsed by sitting Kentucky Senator Mitch McConnell. That didn’t help much.

A quick look at his big issues should be familiar to anyone whose follow Ron Paul: Inflation, debt, sovereignty, guns, and ending bailouts. – Source: Business Insider

Economy

(BusinessInsider) – Schwarzenegger Warns Of “Terrible Cuts, Absolutely Terrible Cuts” Coming In California – Read More Here

(RumormillNews) – 27 Reasons Why You Should Buy Silver NOW

The following is a list of facts and reasons to switch all your Gold investments into Physical Silver: Read More Here

(CounterPunch) – The May 6 Stock Crash Revisited – “Over My 21 Years on Wall Street, I Never Saw Anything Remotely So Suspicious” – Read More Here

(Breitbart) – Bankers jailed, sued as Iceland seeks culprits for crisis

Four former Kaupthing executives, who all live in Luxembourg, have meanwhile been arrested in Iceland in the past week and Interpol has issued an international arrest warrant for that bank’s ex-chairman, Sigurdur Einarsson. Read More Here

(ZeroHedge) – Panic Buying Of Physical Gold In Europe Threatens Depletion Of Austrian Mint – Tyler Durden

When global governments refuse to act responsibly toward their currency, the people will create their own currency. Welcome gold.

( NAW ) 05/12 08:57AM AUSTRIAN MINT SAYS SOLD 243,500 OZ GOLD IN COINS AND BARS IN LAST 2 WEEKS, MORE THAN IN ENTIRE Q1

( NAW ) 05/12 08:58AM AUSTRIAN MINT SAYS GOLD ORDERS COMING ENTIRELY FROM EUROPE IN LAST FEW WEEKS, SIGNS OF “PANIC BUYS”

(MarketTicker) – Record Deficit For An April – Read More Here

(HeraldScotland) – Economy ‘worse than Spain’

The UK’s economy is in worse shape than Spain, and may not be able to bear the deep spending cuts proposed by the Conservatives, one of Scotland’s leading fund managers has told The Herald. Read More Here

(VancouverSun) – Canadians spend their way to top of debt heap, report says

Helped by rock-bottom interest rates, consumers have been borrowing at unprecedented levels and now owe a record $1.41-trillion, putting Canada in the number one spot among OECD nations in terms of consumer debt to financial assets, says a study by the Certified General Accountants Association of Canada. Read More Here

(USAWatchdog) – Gold Is Money

The Western financial world is officially in full panic mode. A nearly $1 trillion bailout of Greece confirms that fact. Our very own Federal Reserve is providing billions to the effort, but this is much more than a bailout for Greece. It is a bailout for banks holding Greek debt and the debt of other European nations teetering on default. Read More Here

(ZeroHedge) – Here Comes The Bailout Bailout: European Cental Banks Gobbling Up Portuguese, Irish And Greek Government Bonds

And so the European private banks win the overnight battle with the Central Banks again: after shorting the EURUSD all the way to almost 1.25, they have forced the European Central Banks to buy ever more of their worthless Government bond holdings. Reuters reports that overnight CBs have been aggressive buyers of Greek, Portuguese and Irish Sovereign (if there is such a laughable concept as sovereign any more) bonds, which in turn has forced a quick short covering spree in the EURUSD and the EURJPY, which in turn has forced futures to go from 10 handles down to up 4. In other words, Central Banks now are fighting tooth and nail to prevent the market from going down ever again. Read More Here

(CNBC) – Video: Peter Schiff on CNBC – Gold to $10,000/oz!

(RussiaToday) – Video: Adam Kokesh on RT – The Fed is under audit – Video Link Here

(BigEye) – 62 Obvious Traitors – To be removed from public office

The below traitors in the U.S. Senate have now shown how corrupt they are. They voted to prevent a full audit of the Federal Reserve Bank. By this action, they have conspired to continue secretly hiding the theft of taxes taken from the incomes of America’s workers.

By voting as the paid-off traitors they obviously are, they are pushing America into further financial disaster. Read More Here

(MailOnline) – ‘Vampire Squid’ Goldman Sachs confesses it is being investigated for helping Greece hide its debts

The controversial Wall Street bank – nicknamed the Vampire Squid because its tentacles stretch far and wide – is accused of having profiteered out of a complex currency deal that helped Greece massage its finances. Read More Here

(SMH) – Spain cuts salaries as Europe faces up to crisis

Spain announced dramatic cuts to public sector salaries and Greece received its first injection of an IMF bailout on Wednesday as Europeans faced up to the reality of their massive debt crisis. Read More Here

(EarthTimes) – Romanian retirees protest against pension cuts – Read More Here

(OnlineJournal) – What is good for Goldman Sachs is bad for the world – Read More Here

(HuffingtonPost) – The Real Misery Index April 2010: Underemployment Woes Lead To Two-Tier Economy

The unemployment crisis continues to stymie a full economic recovery, with ripple effects from credit card delinquencies and rising food stamp participation indicating new hardships for millions of Americans, according to the latest update of Huffington Post’s Real Misery Index. Read More Here

(RawStory) – US trade deficit biggest in more than two years – Read More Here

(CNNMoney) – Video: We Will Have Even More Crises in the Future: Nouriel Roubini – View Video Here

(LATimes) – Welfare system could cause Israel to collapse, economist warns

Nearly one in five Israeli men between the ages of 35 and 54 do not work, including Arabs and ultra-Orthodox Jews, says Dan Ben-David. As their numbers rise, so does the economic peril, he says. Read More Here

(Kitco) – Comex Gold Hits All-Time Record High in After-Hours Trading

Comex gold futures Tuesday afternoon hit a new all-time record high of $1,232.50 an ounce. The previous record high of $1,227.50, basis nearby futures, was set in December of 2009. Gold continues to benefit from safe-haven buying interest amid the European Union’s sovereign debt crisis, and on building bullish technical momentum. With gold prices now in uncharted territory, traders should look for higher volatility both on the upside and on the downside, but with a continued upside bias. Source: Kitco

(Rense) – Financial ‘Reform’ Bill Will Guarantee More Stealng The Fruits Of OUR Labor

The Congress has been busy. Why, haven’t you seen all these stern looking professional politicians from both sides on cable news networks jockey for their “solution” to our dire economic situation?

It’s all a load of highest grade manure. Read More Here

(AP) – Federal Stimulus Money Used To Demolish Houses Read More Here

(NYTimes) – 4 Major Banks Manipulate Market For Perfect Months Of Trading

It is the Wall Street equivalent of a perfect game of baseball — 27 up, 27 down, the final score measured in millions of dollars a day.

Despite the running unease in world markets, four giants of American finance managed to make money from trading every single day during the first three months of the year. Read More Here

(PaulWatson) – Alan Grayson: “We Beat The Fed”

While many are expressing disappointment and even despair that the Senate voted down Ron Paul’s audit the Fed bill while passing a weakened version, Congressman Alan Grayson is confident that the stronger provisions of the original House amendment can be added in Committee, ensuring the Federal Reserve doesn’t get off the hook, as Congressman Paul has warned. Read More Here

(RussiaToday) – Video: Two for one – Auditing Ft. Knox and the Fed

The American Public is demanding for it and they may be getting a two for one deal. An audit of the Federal Reserve will be conducted; specifically its dealings with financial institutions right before and after the financial crisis. This audit will also be conducted on Fort Knox; the audit is taking place in order to determine where money is going and seek some transparency about who received money from the Federal Reserve.

Economy Part 2

(C-Span) – Video: Ron Paul I Am Very Concerned About What’s Going To Happen!

(Reuters) – U.S. Senate rejects broader Fed audit amendment: May 11

The U.S. Senate rejected an amendment on Tuesday that would have exposed the Federal Reserve to broader scrutiny by Congress, which critics said would extend to monetary policy decisions. Read More Here

(DailyCrux) – Porter Stansberry: The U.S. dollar is about to implode – Read More Here

(DailyMail) – Unions warn of Greek-style riots in Britain against public sector cuts after court victory over capping of redundancies

Militant unions today sent a chilling warning of Greek-style strikes and protests after winning a major legal victory for civil servants made redundant.

The warning raises fears of months of chaos triggered by a furious public sector who refuse to accept painful changes to tackle Britain’s financial crisis. Read More Here

(Reuters) – FOREX-Euro falls as market doubts rescue package

The euro fell on Tuesday as the relief rally unleashed by an emergency aid package to prevent the spread of a euro zone debt crisis dissipated and the focus switched back to structural problems plaguing the bloc. Read More Here

(WashingtonsBlog) – The Second Leg of the Great Depression Was Caused by European Defaults

Many Americans know that the Great Depression was started by the bursting of the giant Wall Street bubble of the 1920’s (fueled by the use of bank deposits on speculative gambling, which is why Glass-Steagall was passed) , which in turn caused a run on American banks. Read More Here

Video: Gerald Celente on The Tommy Schnurmacher Show

Senate Votes 96-0 For One Time Audit Of Federal Reserve

(C4L) – The Washington Post’s Ezra Klein (who has not come out either for, or against, an audit of the Fed) raises the same question many of us at Campaign for Liberty had when looking at the Sanders amendment…

The amended version of Audit the Fed passed the Senate 96 to 0 today. A version that was closer to the original — that is to say, it would’ve created a regular audit rather than a one-time audit — lost, 37 to 62. I’m a bit confused by a world in which 96 senators think we need to know what the Fed did in 2008 and 2009 but only 37 think we’ll need to know what the Fed did in 2012 and 2013.

What the Sanders amendment really called for was a mere one-time disclosure of some emergency lending powers used by the Federal Reserve during the most recent fiscal crisis, not an audit.

Video: When Will Greek Contagion Hit the U.S.? – Marc Faber

(FoxBusiness) – May 10 – The Gloom, Boom and Doom Report Publisher Marc Faber weigh in on the future of the global and U.S. markets.

Video: Freedom Watch with Judge Andrew Napolitano

(Fox) – Various segments from Judge Andrew Napolitano’s show May 10th – Topics: Continuing Bush’s Foreign Policy; Drug Bust Gone Awry; Gary Johnson Shrank Government; Dealing with Fiscal Emergencies; Concerns for the Fed with guest Ron Paul –

How the Illuminati Create Unlimited Money – Mark Dice

(Infowars) – Perhaps you have noticed that frequently the largest and most extravagant buildings in most cities (and even small towns) are banks. It’s fascinating how banks make money off interest, which is one of the most lucrative businesses known to man. While most businesses build a product or provide some kind of service involving manual labor or specialized knowledge, banks make enormous profits through the seemingly magical practice of lending people money and collecting interest on the loans.

Video: Food Crisis 2010 and US Dollar Impact

(SicSemperTyrannis) – There has been lots of talk about a coming food crisis due to the massive looting of the nations under the cover of an “economic crisis”. Recently, a report published by The Trumpet has shown food prices spinning out of control.

In the article it shows some of the most startling year-over-year price increases in the U.S. markets:

Video: Ron Paul – Euro Bailout Will Lead To Currency Collapse

(PaulWatson) –  As Europe is bailed out to the tune of nearly $1 trillion dollars, Congressman Ron Paul warns that the constant monetization of debt, allied with taxpayer-funded bailouts, will inevitably lead to runaway inflation and the collapse of paper currencies.

Under the terms of the Federal Reserve’s credit swap deal with the EU – in addition to an additional IMF bailout of which U.S. taxpayers will be picking up 20 per cent ($57 billion dollars) of the tab, Paul pointed out that not just taxpayers but “anybody that buys anything” will be funding the European bailout because of the attendant inflationary consequences.

Economy

(CNBC) – Video: Jim Rogers, Stock Plunge is Just the Beginning! – Video Link Here

(EconomicPolicyJournal) – Fed Set to Go Nuke to Help Bailout Europe

Needless to say this is complete and utter madness. It is extremely inflationary on a global scale.What’s more, outside of banksters, no one in America will benefit from this move. Every one in America will suffer from the ultimate inflationary consequences. Read More Here

(WashingtonTimes) – Stock market time bomb?

Even the world’s most savvy stock-market giants (e.g., Warren E. Buffett) have warned over the past decade that derivatives are the fiscal equivalent of a weapon of mass destruction (WMD) – potentially lethal. Read More Here

(InfoClearingHouse) – Was the Market Pushed? – Danny Schechter

The Wall Street Journal headline on the day after we almost lost the U.S. stock market reported that the wise men on the Street were “baffled” by the big drop Thursday. The Financial Times called the event “Shambolic” as if only a shaman can decode it. Read More Here

(ZNet) – Can the Euro be Saved? – Joseph Stiglitz

The Greek financial crisis has put the very survival of the euro at stake. At the euro’s creation, many worried about its long-run viability. When everything went well, these worries were forgotten. But the question of how adjustments would be made if part of the eurozone were hit by a strong adverse shock lingered. Fixing the exchange rate and delegating monetary policy to the European Central Bank eliminated two primary means by which national governments stimulate their economies to avoid recession. What could replace them? Read More Here

(GlobalResearch) – The Second Wave of the Financial Tsunami – Matthias Chang

I wrote on 23rd November 2009:
“The wave is gathering force and is most likely to hit the global economy between the first and second quarter of 2010. Count on it… The US economy will be spiraling out of control in the coming months and will reach a critical point by the end of the 1st quarter 2010 and implode by the 2nd quarter.” Read More Here

(InternationalForecaster) – Sovereign Debt Crisis: Washington Complicit in Massive Financial Fraud on Wall Street – Bob Chapman

It was 7 years ago we said Fannie Mae and Freddie Mac were bankrupt. Most everyone within the beltway knew it, but no one would say anything about it. This as it now turns out they were the poster companies, which led to sovereign debt problems, but also showed that they were involved in massive fraud over several years and many in Washington knew it. Earnings were fabricated in order to create conditions, so that the officers could collect millions of dollars in bonuses. Part of this scam was engineered by Goldman Sachs, which pushed more than $100 million in earnings into future years. Earnings were structured so that they justified larger payouts for executives. Read More Here

(InfoClearingHouse) – Shadow Inventory – A “Lost Decade” Ahead For Housing – Mike Whitney

In its effort to rescue the housing market, the Obama administration has created a Frankensystem which neither allows the market to clear nor solves the intractable social problems of lost equity and foreclosure. Read More Here

(ABCNews) – $18M Being Spent to Redesign Recovery.gov Web Site

For those concerned about stimulus spending, the General Services Administration sends word tonight that $18 million in additional funds are being spent to redesign the Recovery.gov Web site. Read More Here

(WashingtonsBlog) – Americans Have Been Bailing Out Foreign Banks for Years … And We’re Getting Ready To Do It Again

As the Wall Street Journal points out, the Federal Reserve might open up its “swap lines” again to bail out the Europeans: Read More Here

(AFP) – Britain says it will not back European bailout fund

Britain said on Sunday that it will refuse to underwrite a European Union bailout fund worth some 60 billion euros that finance ministers want to agree at emergency talks in Brussels. Read More Here

(BullFax) – Goodbye, stimulus. Hello, state budget cuts

Think states have made deep spending cuts? You ain’t seen nothing yet. Read More Here

(NoWorldSystem) – Video: Bilderberg Manipulated Stock Market Crash

Many theories have sprung up in regards to what exactly happened on Thursday that would cause a 1,000 point drop in the DOW. Some say that it was a computer or human error that caused the trillion-dollar collapse, but few have theorized the possibility of an engineered collapse that would purposefully create more instability in the United States.

Here’s CNBC’s Maria Bartiromo calling the crash in the DOW a manipulated event.

“That is ridiculous”, Bartiromo replied. “I mean this really sounds like market manipulation to me. This is outrageous.” – Video Link Here

(Telegraph) – British taxpayers ordered to bail out euro

Britain faces paying out billions of pounds under a European Union deal intended to prevent another financial crisis like the one in Greece. Read More Here

(CharlieVLog) – Video: JOBS SCAM – Quick -We Need Some Good News – View Video Here

(CharlieVLog) – Video: Time Is Running Out

(Solari) – The Biggest 2010 Health Care Act Change You Never Heard About – Catherine Austin Fitts Blog

Is the goal to so overload small business with compliance costs that you put them out of business? We think so. They will not succeed, but add this to a long list of economic hits from Washington in 2010. Read More Here

(Reuters) – 39 pct of Greeks plan to take part in protests-poll

A large majority of Greeks oppose austerity measures agreed by the government in exchange for financial aid and 39 percent say they are ready to participate in protests against the cuts, a poll showed on Saturday. Read More Here

(VisionVictoryVlog) – Video: Breaking News! Greekman Brothers Moment, Shady Reporting by the BLS exposed, and the Dow Jones

Economy

(CampaignForLiberty) – Is Sovereign Debt Crisis Contained to Subprime? – Peter Schiff

As Americans observe the chaos in Greece, most assume that the strength of our currency, the credit worthiness of our government, and the vast expanse of two oceans, will prevent a similar scene from playing out in our streets. I believe these protections to be illusory. Read More Here

(IsraelFinancialExpert) – The Euro Crisis and the Euro Collapse- A run on the banks is Imminent – Read More Here

(BullionBullsCanada) – The Silver Price Spiral, Part III: tomorrow

In Part I of this series, I introduced readers to the idea that the price of silver could soar to levels which would even surprise most silver-bulls. In Part II of this series, I pointed out that when our “paper inventories” of silver are exposed that this, alone, sets up the silver market for an enormous price-shock. In Part III of this series, I will discuss how silver has perhaps the most-bullish demand fundamentals of any commodity in history Read More Here

(AZFamily) – Video: Hundreds seek to fill vacant positions at Pro’s Ranch Market

Job hunters turned out in the hundreds to fill recently-vacant positions at Pro’s Ranch Market stores, where a federal audit led to the firing of some 300 workers. View Video Here

(CityWire) – Would You Put Up With What is Being Asked of the Greek People?

Want to know exactly why public anger in Greece is running at such explosive levels? Then take a look at the austerity measures currently being debated by the Greek parliament. Read More Here

(Slate) – Shadow Banking: Keeping the Fed Honest – Eliot Spitzer

Why is the Federal Reserve so afraid of openness and accountability? – Read More Here

(GlobalResearch) – Financial Manipulation and Inside Information: Did the Stock Market Drop Or Was It Pushed? – Danny Schechter

The Wall Street Journal headline on the day after we almost lost the market reported that the wise men on the Street were “baffled” by the big drop Thursday. The Financial Times called the event “Shambolic” as if only a shaman can decode it. Read More Here

(BusinessInsider) – Wealth And Inequality In America: The Rich are getting Richer and the Poor are getting Poorer – Gus Lubin – Read More Here

(FinancialTimes) – Plunge in US equities remains a mystery

The day after $1,000bn was briefly wiped off the market value of US equities, traders were still trying to work out what caused share prices to plunge and then rebound so dramatically in a matter of minutes. Read More Here

(ComingDepression) – Unmentioned: USA slaps more tariffs on China

“The U.S. Department of Commerce said yesterday that it has set preliminary anti-dumping duties on refined Chinese and Mexican copper pipe worth hundreds of millions of U.S. dollars.”
Unless we wake up in the West to what has happened with China monopolizing the world manufacturing sector and supplying easy credit to keep buying their products, we’ll end up like Greece too. China is acting on emotion to sustain its country because if the people there are jobless, we stop buying their stuff – they will collapse into civil strife. Read More Here

(Spiegel) – Huge National Debts Could Push Euro Zone into Bankruptcy

Greece is only the beginning. The world’s leading economies have long lived beyond their means, and the financial crisis caused government debt to swell dramatically. Now the bill is coming due, but not all countries will be able to pay it. Read More Here

(HuffingtonPost) – Stock Market Collapse: More Goldman Market Rigging? – Ellen Brown

Goldman and Wall Street reign. Congress appears helpless to discipline the big banks, just as the European Central Bank appears helpless to prevent the collapse of the European Union. . . . Or are they? Read More Here

(Current) – Thomas Jefferson – Banks more Dangerous than Armies

Banking institutions, paper money, and paper speculation are capable of undermining the nation’s stability and could be a danger in time of war. The Constitution does not empower the Congress to establish a National Bank. Rather than trust the nation’s currency to private hands, the circulating medium should be restored to the nation itself to whom it belongs. Read More Here

(TheAtlantic) – Revised Senate Fed Audit Amendment Lacks Bite

Perhaps no other force had as much to do with stabilizing the financial system during the crisis as the Federal Reserve. And no other influence is shrouded in so much mystery. Although its tactics were hugely successful, the Fed has become incredibly controversial due to its secrecy. It has some politicians on both sides of the aisle calling for an audit to enhance transparency. But the Senate amendment — sponsored by Sen. Bernard Sanders (I-VT) — changed significantly on Thursday and lost much of its bite. Read More Here

(AP) – FDIC shuts banks in Fla., Minn., Ariz., Calif.

Regulators on Friday shut down banks in Florida, Minnesota, Arizona and California, bringing the number of U.S. bank failures to 68 this year. Read More Here

(TheComingDepression) – Mortgage fraud in Canada highlights tumbling market

“The Bank of Montreal has been hit by a huge mortgage fraud in Alberta that may cost it $30 million, a report said. The bank is suing hundreds of people in connection with the scam, including lawyers, mortgage brokers and four of its employees, CBC News said, citing legal documents.”
The case may be the largest mortgage fraud in Canadian history, generating about $140 million, with funds channeled as far as Lebanon, India – Read More Here

Video: Rep. Alan Grayson: You Own the Red Roof Inn, Thanks to the Fed

Rep. Alan Grayson discussed the Federal Reserve’s purchase of debt from Bear Stearns, including debt from recently foreclosed Red Roof Inn’s.

Video: A Dire Warning from Dr. Ron Paul

Economy

(RussiaToday) – Video: World economies in depression – Webster Tarpley – View Video Here

Video: Letterman – Brian Williams On The Stock Market Collapse – View Video Here

(Fox) – Video: Ron Paul on FOX News – “This is a currency crisis” – Video Link Here

Video: Senate Sellout Threatens Ron Paul’s Audit the Fed Bill – View Video Here

(AFP) – Merkel blasts ‘treacherous’ banks in Greek crisis

German Chancellor Angela Merkel on Thursday slammed “treacherous” practices by banks during the Greek crisis and said governments must crack down on speculators hunting profits in the turmoil. Read More Here

(GlobalResearch) – The Global Economic Crisis, The Great Depression of the XXI Century – Michel Chossudovsky

The following text is the Preface of The Global Economic Crisis. The Great Depression of the XXI Century, Michel Chossudovsky and Andrew Gavin Marshall (Editors), Montreal, Global Research, 2010, which is to be launched in late May.

Each of the authors in this timely collection digs beneath the gilded surface to reveal a complex web of deceit and media distortion which serves to conceal the workings of the global economic system and its devastating impacts on people’s lives. Read More Here

(C-SPAN) – Video: Ron Paul – Money Isn’t Worth What It Used To Be! – View Video Here

(Infowars) – Video: Bankers Laughing All the Way to the Bank

The ‘Audit the Fed’ bill has been watered down by Senator Bernard Sanders right at the last minute (a common strategy: pretend to be a populist, then at the last minute, the politician “gives in” in the spirit of compromise). The Audit the Fed bill could go to vote in the Senate any day now. View Video Here

(Infowars) – Video: Greg Palast Tells How The IMF Set-Up Iceland & Greece on Alex Jones TV – View Video Here

(StraitsTimes) – Romania braces for austerity

ROMANIA braced on Friday for a wave of protests after the president unveiled austerity cuts in public sector wages and pensions to meet a deficit target set by the IMF and avoid a Greek emergency scenario. Read More Here

(CNSNews) – Sen. Shelby: Financial Reform Violates Privacy

Sen. Richard Shelby (R-Ala.), senior Republican on the Senate Banking Committee, said that provisions in the new financial regulatory bill violate privacy rights by allowing the government to collect any financial information it wants from any financial institution it wants. Read More Here

(GlobalResearch) – Economic Slash and Burn: Greece’s Deadly Austerity Measures

The Greek government, and its citizens, are feeling the economic pinch. A brutal reaction to protestors who fear the winding back of the country’s social system has stunned visitors and the public alike. A general strike has been in progress that has crippled schools, hospitals, airline flights and ferries. Protestors have swarmed around the central square in front of Parliament. Read More Here

(USAWatchdog) – The Canary is Dead

In the early days of coal mining, canaries acted as a warning that odorless poisonous gas was present. If there was a dangerous gas build-up, the canary would be the first to keel over. You can use the “canary in a coal mine” metaphor to describe the situation in today’s financial world. Greece is the canary. Read More Here

(BusinessInsider) – The “Real” Unemployment Rate Jumps To 17.1%

The BLS’s U-6 number, which is sometimes called the “real” unemployment rate, because it takes into discouraged workers who aren’t looking for work ticked up in April from 16.9% to 17.1%. Read More Here

(Bloomberg) – SEC Probes Whether Shock Stock Plunge Exploited Illegally

U.S. regulators plan to examine whether securities professionals triggered yesterday’s stock- market plunge or exploited the turmoil to profit illegally, two people with direct knowledge of the matter said. Read More Here

(Xinhua) – Greek protesters encircle parliament as new austerity measures approved

Tens of thousands of Greek citizens marched in the center of Athens on Thursday afternoon, encircling the parliament building, while inside the bill on the new austerity measures was approved. Read More Here

(BusinessInsider) – Amazing Audio From The S&P 500 Pits As The Market Goes Into Complete Collapse – Audio Link Here

(PrisonPlanet) – Audit the Fed Amendment Modified – Allows Fed To Keep Secrets

Ron Paul just posted the following message on Facebook:

Ron Paul: “Bernie Sanders has sold out and sided with Chris Dodd to gut Audit the Fed in the Senate. His “compromise” is what the Administration and banking interests want: they’ll allow the TARP and TALF to be audited, but no transparency of the FOMC, discount window operations or agreement with foreign central banks. We need to take action and stop this!” Read More Here

(Neithercorp) – Economy Kept On Life Support While Global Governance Is Organized

While the mainstream media puts on the recovery song and dance, the fundamental problems of the collapse remain the same, and in some cases are growing ever more precarious. Subsections of the public, unaware of the real issues at hand, are holding a misguided jubilee in the tranquil eye of a hurricane, wrongly assuming that the storm has passed. Read More Here

(FireDogLake) – As Dow Swings, Obama To Come Out Against Audit the Fed Today – Read More Here

(Bloomberg) – Video: Marc Faber On Dow Plunge

“The governments are all bankrupt and they can only survive by printing money” – View Video Here

(PaulWatson) – EU Is Collapsing Like Tower Of Babel

But World Bank and IMF vultures are lying in wait to feed on the remains of Greece

Oil Spill

(Telegraph) – Video: Gulf of Mexico oil slick hits wildlife reserve beaches

The first tentacles of the giant Gulf of Mexico oil slick have washed up on beaches that are part of a wildlife refuge off the Louisiana coast. Read More Here

(Guardian) – Shell reports record oil spillages in Nigeria

Royal Dutch Shell plc spilled nearly 14,000 tons of crude oil into the creeks of the Niger Delta last year, the company has announced, blaming thieves and militants for the environmental damage.

The amount of oil spilled by Shell’s Nigerian subsidiary was more than double the amount poured into the delta in 2008, and quadruple what was spilled in 2007 – highlighting the worsening situation the oil company faces in Nigeria. Read More Here

(Rense) – Deepwater Horizon – Capturing The Planet! – Jim Kirwan

The day has finally come for the literal confrontation with the Corporation-States of the planet. When the Deepwater-Horizon project did what it was supposed to do in order to make all that much more money for the criminals; by massively failing to bring in their well in the Gulf of Mexico-the final chapter in relations between the hostile elites and the rest of us took center stage.

“New York: In what is looming as another public-relations predicament for Goldman Sachs, the banking giant admitted that “it made a substantial financial bet against the Gulf of Mexico” one day before the sinking of an oil rig in that body of water.

The new revelations came to light after government investigators turned up new emails from Goldman employee Fabrice “Fabulous Fab” Tourre in which he bragged to a girlfriend that the firm was taking a ‘big short’ position on the Gulf.

Economy

(RollingStone) – The Feds vs. Goldman

The government’s case against Goldman Sachs barely begins to target the depths of Wall Street’s criminal sleaze – Read More Here

(EconomicCollapseBlog) – Will The Gulf Of Mexico Oil Spill Be An Economic Disaster That The Gulf Coast Will Never Recover From? – Read More Here

(EconomicCollapseBlog) – How Is The U.S. Economy Supposed To Succeed When Our Politicians And The Big Banks Are Making Billions Of Dollars Betting Against It?

Most people around the globe think of America as a great “capitalist” economic machine, but the truth is that the U.S. financial system is essentially one massive betting parlor at this point. In fact, there has been a whole lot of easy money made in this betting parlor over the past several years by our politicians and by the big financial players down on Wall Street. So how did they make all of this money? They did it by betting against America. Read More Here

(GlobalResearch) – Covert Economic Agenda Beneath Immigration Reform – Shamus Cooke

How convenient for Goldman Sachs. Just as most working people were demanding that the Goldman bosses and other Wall Street criminals either be massively fined, jailed or worse, the nation’s attention is suddenly forced to react to the racist immigration law in Arizona. And although the two incidents are not directly related, they represent a trend that is likely to increase in the months and years ahead. Read More Here

(YahooFinance) – Video: Congress Refuses to Outlaw Insider Trading For Lawmakers

Even a cynic can find Washington’s hypocrisy shocking at times. The Wall Street Journal reports today a House bill that would force lawmakers to make greater disclosures on financial transactions and disallow them from trading on nonpublic information is going nowhere fast.

That’s right. Members of Congress are currently allowed to profit on insider trading! View Video Here

(WashingtonPost) – Illegal Immigrants cost feds more than $10 billion a year

A report that found that illegal immigrants in the United States cost the federal government more than $10 billion a year — a sum it estimated would almost triple if they were given amnesty — has drawn criticism from immigration advocacy groups. Read More Here

(WashingtonPost) – Effort to expand audits of Fed picks up steam in Senate

A contentious effort to expand audits of the Federal Reserve that sailed through the House despite heavy criticism appears to be picking up steam as the Senate considers broad new financial regulations. Read More Here

(GlobalResearch) – Cutting Public Debt: Economic Science or Class War?

In The Bullet no.345, Ingo Schmidt showed how the credit rating agencies have sparked an assault by international bondholders on the sovereign debt of Greece, where workers are being made to pay heavily for the fiscal crisis of the state. Read More Here

(WashingtonsBlog) – The Fed Must Be Audited: The Fraudulent Practices of the Federal Reserve

In March 2004, when Alan Greenspan was Fed chairman, he suppressed the opinions of those Fed officials who knew that there was a housing bubble.

Congressman Alan Grayson points out that – because the Fed unilaterally decided to hand out half a trillion to foreigners without any Congressional oversight, and that Bernanke testified that he didn’t know who got the loot – the Fed must be subject to an audit. Read More Here

(GlobalResearch) – Greece: Poverty and Social Implosion in the Wake of the Financial Bailout – Finian Cunningham

“This is not our debt, but we are being made to pay for it,” said one angry Greek worker, explaining why he like thousands of other Greeks are taking to the streets in protest at their country’s bail-out plan.
The so-called rescue package of €110 billion ($143 billion) facilitated by the European Union and International Monetary Fund (IMF) is not just aimed at shoring up Greece from total economic collapse. At stake too is the solvency of several other Eurozone countries – Belgium, Ireland, Italy, Portugal and Spain – and even the euro currency itself. Read More Here

(USAWatchdog) – Inflation and Bailouts Go Hand in Hand

Pick a financial fire and you can be sure the U.S. government will hose it down with gallons of money. AIG, General Motors, Chrysler, insolvent states, FDIC, Fannie, Freddie and all the banks are just a few of the blazes Uncle Sam has sprayed money on

Now, the Federal Reserve is printing up another $105 billion to send to Greece to help with its debt problem. Is the bailout cycle getting ready to take another turn bailing out the Banks? Read More Here

(CNBC) – European Union, Currency Are Headed for Collapse: Gartman

The current European debt crisis likely will not end until the euro collapses as a currency and takes the entire European Union with it, said Dennis Gartman, hedge fund manager and author of “The Gartman Letter.”
“I think the whole thing will go down to defeat, the whole thing will eventually unravel,” Gartman said in an interview with CNBC.com. Read More Here

(SmirkingChimp) – US Government Now 96.5% of the Mortgage Market Q1, 2010

If You Were NOT Paying for Your Neighbor’s Mortgage, How Many Home Sales Would There Be?

The US government IS the US housing market. Read More Here

(ABC30) – Video: City of Fresno Declares Fiscal Emergency

The city of Fresno is facing a $30.6 million budget shortfall and the mayor announced she wants to cut hundreds of city jobs. Video Link Here