(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. Read the rest of this entry »

See Also: (Globe&Mail) – How the gushing oil in the Gulf will ripple around the world – Read More Here

Also: (Telegraph) – BP chief Tony Hayward sold shares weeks before oil spill - Read More Here
Also: (Gas2) – Societal Collapse Due to Peak Oil ‘Inevitable,’ According to Researcher – Read More Here

(Infowars) – The Obama Administration, in keeping with Rahm Emmanuel’s philosophy of “never letting a serious crisis go to waste” is using the BP oil calamity to its advantage. In order to understand the scope of the problem, we must begin by looking at a brief history of BP and how deeply energy markets affect politics. Last week, Obama pretended to accept responsibility for the oil spill, but then ridiculously claimed that he didn’t know that the ties of corruption between the oil companies and politicians would extend past Bush’s administration into his time in office.(1) This is completely absurd, given the long history of oil and energy corruption in America. Read the rest of this entry »

(Cato@Liberty) – Costly IRS Mandate Slipped into Health Bill

A few wording changes to the tax code’s section 6041 regarding 1099 reporting were slipped into the 2000-page health legislation. The changes will force millions of businesses to issue hundreds of millions, perhaps billions, of additional IRS Form 1099s every year. It appears to be a costly, anti-business nightmare. Read More Here

(DailyMail) – Greek police and protesters clash as fury over economic chaos spills on to streets – Read More Here

(NYTimesBlog) – Where All That Money Went

“We’ve lost almost $11 trillion of household wealth in the last 17 or 18 months,” lamented Senator Christopher J. Dodd, the Connecticut Democrat, on last Sunday’s “Meet the Press,” as he urged Congress to proceed with speedy deliberations on a finance reform bill.
Eleven trillion dollars! That’s over three-quarters of our current gross domestic product. Read More Here

(BusinessInsider) – Here’s Why US GDP Growth Is Unsustainable

The US turned in a fairly robust quarter in Q1 2010, with real GDP growth meeting expectations at 3.2% annualized. This comes on the back of a very robust annualized 5.6% growth in the previous quarter. This is the best growth two-quarter growth we have seen since 2003.

However, when one digs deeper, it is obvious this growth is unsustainable because it is predicated on a reduction in savings rates and a releveraging of the household sector. As a result, I expect weak GDP growth in the second half of 2010. Read More Here

(HuffingtonPost) – Goldman Sachs Reveals it Shorted Gulf of Mexico (SATIRE)

In what is looming as another public relations predicament for Goldman Sachs, the banking giant admitted today 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. Read More Here

(HoweStreet) – The Welfare State Meets Mathematics

The simple matter is that many nations have been living beyond their means and investors are beginning to doubt governments are good credit risks. That’s saying something, when governments can simply confiscate from the public the money needed to pay bond holders. But debt-to-GDP levels are now so high across the Western world that bond investors (and ratings agencies) are having serious doubts. Read More Here

(ZeroHedge) – With $2 Trillion In 3 Year Funding Needs By the PIIGS, The IMF Is Helpless To Do Anything But Sit Back And Watch

Total PIIGS funding needs (defined as the sum of debt maturities and budget deficits) over the next 3 years amount to $2 trillion. Total PIIGS funding needs in 2010 alone amount to $600 billion. Total IMF bail out capacity: around $700 billion. Sorry – it simply does not compute.

Below is a table summarizing the funding needs of just the PIIGS. Read More Here

(WashingtonsBlog) – If We Broke Up Standard Oil, We Can Break Up the Giant Banks – Read More Here

(BizJournals) – Honolulu foreclosures soar 123% in Q1 – Read More Here

(CNBC) – Spain Jobless Rate Surpasses 20%

Spain’s jobless rate has surpassed 20 percent for the first time since 1997, the government said Friday as it offered more dismal news for a recession-plagued economy that is being dragged into Europe’s debt crisis. Read More Here

(BizJournals) – Florida has highest private student loan delinquency rate – Read More Here

(MercuryNews) – San Jose council cuts its own pay 10 percent

The city is trying to close a record $116 million operating deficit for the upcoming budget year and hundreds of layoffs are anticipated. Read More Here

(BizJournals) – Report: Tech industry dumps 246,000 jobs in 2009

The job losses likely will be much higher in the 2011 report (which will have 2009 state stats) reflecting the full weight of the recession. Read More Here

(knightNews) – UCF Tuition and Fees Could Soar 23% Combined Under Legislative Deal

State lawmakers gave the greenlight for the University of Central Florida and other state schools to hike fees by 15 percent and raise tuition by another 8 percent — while at the same time slashing funding for the Bright Futures scholarship program. Read More Here

(BizJournals) – Report: Alabama manufacturing jobs down 7% in last year – Read More Here

(AP) – Mortgage fraud incidents rise 7 pct last year

Incidents of residential mortgage fraud increased last year, a sign that scammers are still targeting the industry despite more diligent efforts to find and report such activity. Read More Here

(YouTubeVlog) – Video: Peter Schiff – How an Economy Grows & Why it Crashes Read the rest of this entry »

(DailyMail) – The scientist at the heart of the ‘Climategate’ row over global warming hid data ‘because it was standard practice’, it emerged today. Read the rest of this entry »

(RussiaToday) – Marc Faber, author of Gloom Boom and Doom Report says many Western governments would eventually follow the US ‘inevitable’ default suit. Outspoken investor and writer Marc Faber doesnt give America much time before it goes bust. Read the rest of this entry »

Presented by Douglas French at the 2009 Mises University. Recorded 28 July 2009 at the Ludwig von Mises Institute; Auburn, Alabama. Read the rest of this entry »

(C4L) – The purpose of the following is to argue that the “gold standard,” as understood by most of the public, did not cause or worsen the Great Depression as current FED Chairman Ben Bernanke has based many of his papers, speeches, and, to a large extent, his entire career on. Read the rest of this entry »

(C4L) – The purpose of the following is to argue that the “gold standard,” as understood by most of the public, did not cause or worsen the Great Depression as current FED Chairman Ben Bernanke has based many of his papers, speeches, and, to a large extent, his entire career on. Read the rest of this entry »

(Fox) – October 4th, 2009 – (Take Note) – Fox Anchor says, “We Believe You Now” Read the rest of this entry »

Bankers in charge of our economies makes as much sense as candy makers being in charge of our diets Read the rest of this entry »

In December 14, 2008, in his interview on the CBS sixty minutes show, Whitney Tilson an investment fund manager predicted that the subprime collapse was only half way of the total real estate bubble, and that the second half will begin take place around 2010 and will continue until about the year 2013. Tilson also discussed the two fancy Wall Street terms for bad mortgages namely Alt-A (Alternative-A paper) and option arms mortgages. These loans lured borrowers with teaser rates that will begin to reset this year. Read the rest of this entry »

“Paper money eventually returns to its intrinsic value —- zero.” – Voltaire
I’ve read and witnessed various pundits during the Presidential campaign describe Ron Paul as crazy. The corrupt tax and spenders in Congress know their days would be numbered if they followed his vision of government. After reading his tremendously sane rebuke of Ben Bernanke and the policies of his Federal Reserve, I’m reminded of a classic scene from Seinfeld. Read the rest of this entry »

The masquerade is over! The “public option” is … dead.

Health care reform is now a private option: WHICH FOR PROFIT INSURANCE COMPANY DO YOU WANT? You have to choose. And you have to pay. If you have a low income, under HR3200 government will subsidize the private insurance companies and you will still have to pay premiums, co-pays and deductibles. Read the rest of this entry »

The statistics are shockingly grim. As Congress relentlessly works to pile on more and more big spending programs, deficits near $2 trillion. Meanwhile, government revenues are plummeting, with Treasury reporting a 57% drop in corporate income tax revenue since 2007. An 18% drop in tax revenue is expected for the year overall, the biggest annual decline since the Great Depression. Read the rest of this entry »

A Short History of Why We Eat Oil, Can’t Smoke Pot and Assault Weapons Are So Expensive in Our Hour of Need … Read the rest of this entry »

Goldman Sachs Group’s record second-quarter earnings report this week just generated more enmity toward the Wall Street titan, if more is even possible at this point. Read the rest of this entry »

Out of the economic and [supposed] environmental catastrophes that we face, global governance is being presented as a solution. Whether or not the global elite did in fact engineer the current economic crisis, which evidence does point toward, it is being used as a catalyst to launch a host of globalist initiatives. Read the rest of this entry »

A political-economic oligarchy has taken over the United States of America. This oligarchy has institutionalized a body of law that protects businesses at the expense of not only the common people but the nation itself. Read the rest of this entry »

(Bloomberg) – Executives at U.S. companies are taking advantage of the biggest stock-market rally in 71 years to sell their shares at the fastest pace since credit markets started to seize up two years ago. Read the rest of this entry »

Harry Browne, the former Libertarian Party candidate for president, used to say: “the government is great at breaking your leg, handing you a crutch, and saying ‘You see, without me you couldn’t walk.’” That maxim is clearly illustrated by the financial industry regulatory reforms proposed this week by the Obama Administration. Read the rest of this entry »

It makes no sense in a single-currency zone if one country does its own thing Read the rest of this entry »

It makes no sense in a single-currency zone if one country does its own thing Read the rest of this entry »

Russia has become the first major country to call for a partial restoration of the Gold Standard to uphold discipline in the world financial system. Read the rest of this entry »