Daily Archives: September 15, 2012

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In The News Today « Jim Sinclair’s Mineset

In The News Today « Jim Sinclair’s Mineset.

Jim Sinclair’s Commentary

Could it be that Romney erred in pre-firing Bernanke?

Remember the picture of the clients of Walmart? They are the people who elect a president, not you and I.

Gold is going to and through $3500.

Obama Erases Romney’s Edge on Economy

President Obama has taken away Mitt Romney’s longstanding advantage as the candidate voters say is most likely to restore the economy and create jobs, according to the latest poll by The New York Times and CBS News, which found a modest sense of optimism among Americans that White House policies are working.

But while the climate for Mr. Obama has improved since midsummer, and Mr. Romney has failed to shift sentiment decisively in his favor, the poll found that the presidential race is narrowly divided.

With their conventions behind them and the general election fully engaged, the Democratic Party is viewed more favorably than the Republican Party. The poll also found more likely voters give an edge to Mr. Obama on foreign policy, Medicare and addressing the challenges of the middle class. The only major issue on which Mr. Romney held an advantage was handling the federal budget deficit.

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Jim Sinclair’s Commentary

If you believe this is happening as a protest to a movie, I will sell you a nice bridge from Brooklyn to Manhattan for cash, cheap.

Pravda was more honest under Stalin than MSM in the West today.

West urges end to film protests
14 September 2012 Last updated at 20:40 ET

Western countries have appealed for an end to violent protests targeting their embassies, sparked by a film mocking the Prophet Muhammad.

The EU urged leaders in Arab and Muslim countries to “call immediately for peace and restraint”.

The US is sending marines to defend its embassy in Khartoum and has called on Sudan to protect foreign diplomats.

At least seven people died in protests in Khartoum, Tunis and Cairo on Friday and there are fears of further unrest.

US embassies have borne the brunt of the attacks after clips of the film – which was made in the US – were distributed online.

Protest timeline – main flashpoints

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11 September

1. US embassy in Cairo attacked, flag torn down and replaced with black Islamist banner

2. Mob attacks US consulate in Benghazi, US ambassador Chris Stevens and three other Americans killed

13 September

3. Protesters break into the US embassy compound in Sanaa, Yemen, amid clashes with security forces

14 September

4. Sudanese protesters attack US, German and UK embassies in Khartoum and clash with police. Three killed

5. One person killed in Lebanon in protest at a KFC restaurant

6. Protesters in Tunis attack the US embassy, with a large fire reported and shots heard. Two killed

7. Riot police in Cairo clash with protesters near US embassy. One person killed

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Jim Sinclair’s Commentary

Here is a thought for your consideration. Romney invited Bernanke to make his move yesterday by pre-firing him.

Jim Sinclair’s Commentary

It happened exactly as anticipated, including the monthly characteristic, yet to infinity.

QE to infinity here and there, the USA and Euroland.

https://i0.wp.com/i.imgur.com/XaiUx.gif

Jim Sinclair’s Commentary

Are you warm and cozy with your wealth in Street Name?

More Americans opting out of banking system
By Danielle Douglas, Published: September 12

In the aftermath of one of the worst recessions in history, more Americans have limited or no interaction with banks, instead relying on check cashers and payday lenders to manage their finances, according to a new federal report.

Not only are these Americans more vulnerable to high fees and interest rates, but they are also cut off from credit to buy a car or a home or pay for college, the report from the Federal Deposit Insurance Corp. said.

Released Wednesday, the study found that 821,000 households opted out of the banking system from 2009 to 2011 and that the so-called unbanked population grew to 8.2 percent of U.S. households.

That means that roughly 17 million adults are without a checking or savings account. Another 51 million adults have a bank account, but use pawnshops, payday lenders or rent-to-own services, the FDIC said. This underbanked population has grown from 18.2 percent to 20.1 percent of households nationwide.

The study also found that one in four households, or 28.3 percent, either had one or no bank account. A third of these households said they do not have enough money to open and fund an account. Minorities, the unemployed, young people and lower-income households are least likely to have accounts.

Stubbornly high unemployment and underemployment have placed millions of Americans in precarious financial positions, leaving them unable to absorb overdraft charges or minimum-balance fees.

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Violent protests across Middle East target embassies, Pope visit to Lebanon
Published September 14, 2012
FoxNews.com

Anti-American violence flared Friday across North Africa and the Middle East, with Muslim mobs reportedly scaling the walls of the U.S. Embassies in Tunisia and Sudan, breaking windows and setting fires.

A Marine team, meanwhile, was on the ground in Yemen Friday as a “precautionary measure” in the wake of violence and protests in the capital city of Sanaa, a Pentagon spokesman confirmed to Fox News.

Protesters reportedly broke into the German Embassy in Sudan — pulling down its emblem and raising the Islamic flag — and demonstrators in Lebanon burned Kentucky Fried Chicken and Arby’s restaurants while chanting against the pope’s visit to Lebanon.

At least one protester was killed and 25 were injured in the northern Lebanese city of Tripoli after clashes between police and protesters over an anti-Islam film, security officials said.

In Egypt, protesters in Ciaro’s Tahrir Square could be seen carrying a 4-foot-tall poster of Usama bin Laden, and graffiti reportedly found on the U.S. Embassy there read: “Take care America. We have 1.5 billion bin Ladens.”

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Leave the Fed Alone

Leave the Fed Alone

September 15th, 2012   Submitted by Davi Barker

For months now I’ve been experiencing some serious cognitive dissonance. I think it actually started over a year ago while I was staying at the Occupy San Francisco encampment set up in front of the Federal Reserve. I was invited, among others, to speak about the history and function of the Fed. In 2003 Edward Griffin’s book, “The Creature from Jekyll Island” set a brush fire in my mind, and I have largely used his arguments against the Fed, specifically that the Federal Reserve is not Federal, and not a reserve. Griffin adds that the Federal Reserve System is not a system, but that distinction really only carried weight at a time when calling it a “system” obfuscated the fact that it’s a central bank. These days most people don’t mind a central bank the way they did in 1913, but hearing for the first time that the Federal Reserve is not Federal can be jarring for people, and often it gets their attention long enough to explain that it’s actually a cartel of private banks issuing a debt based fiat currency. But at Occupy San Francisco I learned that there’s a whole different way that some people look at the problem.

One group, we’ll call them “Gold Bugs,” tends to focus on the “Reserve” part of the lie, railing against the folly of fiat money, and advocating a gold backed national currency. But there’s another group, which I’ve since learned are called “Green Backers” who focus on the “Federal” part of the lie. In their view paper isn’t the problem, and gold isn’t the answer. Private profit is the problem, and nationalizing the Fed so that the issuance of fiat paper is controlled by Congress is the answer.

Now, I’ve learned enough along the way to know that “nationalize” is a dirty word, but because of Edward Griffin and all the Gold Bug talking points I’d picked up I was accustomed to arguing that the Fed being privately held was at least part of the problem. So, that contradiction bounced back and forth in my head like tennis ball for about a year. But now, thanks to Ben Stone from Bad Quaker Dot Com I think I’ve reconciled my thinking.

Ben recently did an episode of the Bad Quaker Podcast titled “Do Libertarians Want Government to Fix Government” in which he discusses a wide variety of issues in his delightful meandering way. In it he asserts, in no uncertain terms, that the Federal Reserve is a private corporation, and libertarians have no business asking Congress to audit or abolish privately held companies. Well, that scratched my brain right where it itched.

For some reason, even though libertarians trumpet that the Fed is a private banking cartel, we’ve been treating the problem as if it was a government agency, just as we’ve advocated the abolition of the IRS, or the Department of Education or the CIA. In reality we should take the same approach we take with all corporations. We should be dissolving the public/private partnership. The problem is not profit. The problem is not bureaucracy. The problem is not even economics. The problem is aggression. The problem is the monopoly privilege granted to the Fed by the State through legal tender laws. That is why Senator Nelson Aldrich was invited to that meeting of bankers on Jekyll Island in 1910. If they’d just wanted to form a cartel they wouldn’t have needed a Senator. They needed Aldrich because they needed the color of law.

Fundamentally I don’t care if they audit the Fed. There is nothing Congress could tell me about the Federal Reserve that would convince me to support it. But now I’m thinking I don’t really care if they abolish the Fed either. Why shouldn’t Ben Bernanke print as much paper as he wants? It’s no crime to put ink to paper. Destroying the value of paper by overprinting is no more a tax than destroying the value of iPods by over manufacturing would be. But we wouldn’t demand a congressional audit of Apple. The same economics applies. The Federal Reserve’s product is dollars. What business is it of Congress how much product a private company produces, or what they sell it for, or who they lend it to?

The act of aggression in the Federal Reserve System is not the printing of money, or the inflation of prices. It’s the enforcement of legal tender laws, and the stifling of competition by the State. It’s the fact that the State demands taxes in dollars, so even if the counter economy had sufficient labor, commodity and capital to sustain without transacting in the dollar economy the Feds would still come after us demanding dollars. It’s the fact that the State goes after almost every viable alternative currency whether it’s the Liberty Dollar or the Gold Dinar and finds some pretense to shut them down. Without this aggression from the State the value of paper would be subject to natural market forces and the Federal Reserve would be little more than a novelty certificate printing company.

So, I’m going to keep wearing my End the Fed t-shirt, and so should you if you’ve got one. But when people ask me what it means I’m not going to go into a long rant about the history and function of the Federal Reserve. I’m going to tell them what I really want deep down. I want to abolish the Federal Government.

Leave the Fed Alone – Daily Anarchist.

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Investors in US Stockmarkets Set Up To Be Elected… by Clive Maund

Investors in US Stockmarkets Set Up To Be Elected… by Clive Maund http://lewrockwell.com/maund/maund13.1.html

Sent from my iPad

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That Villaraigosa Moment by Justin Raimondo — Antiwar.com

That Villaraigosa Moment by Justin Raimondo — Antiwar.com
http://original.antiwar.com/justin/2012/09/09/that-villaraigosa-moment/

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Tomgram: Engelhardt, Washington Invested in War | TomDispatch

Tomgram: Engelhardt, Washington Invested in War | TomDispatch
http://www.tomdispatch.com/blog/175592/tomgram%3A_engelhardt,_washington_invested_in_war/

Sent from my iPad

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Marc Faber: Fed’s QE forever is ludicrous; no country has become rich from consumption – Business Intelligence Middle East – bi-me.com – News, analysis, reports

Marc Faber: Fed’s QE forever is ludicrous; no country has become rich from consumption – Business Intelligence Middle East – bi-me.com – News, analysis, reports http://www.bi-me.com/main.php?id=59324&t=1&cg=4

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