France, Germany at Odds Over Pace of EU Bank Reform
German diplomats are skeptical about allowing the European Central Bank to have authority to supervise all 6,000 banks in the euro zone. The French, being the recipients of any such move to help their struggling economy, are all for it. This reform requires the approval of the 27 member states. Guess the French could tell the Germans, in for a penny, in for a pound. That will calm things down… Not!
Middle East Mayhem: Congrats Obama,You Built That
In 2011, Obama stated that “freedom lovers” in Egypt and Libya needed our help to establish democracy in their lands. Well, it turns out that those “freedom lovers” were bat crap crazy. Of course, we should have thought something was not right right back then when they were burning were burning the American Flag, looting the pyramids, and raping female correspondents. But we must remember folks. He didn’t build this situation by himself. He had help, and it was the complicit, non-questioning, mainstream media. Not to mention the central bankers that profited nicely off the mayhem.
Does Quantitative Easing Mainly Help the Rich?
Last month, the Bank of England issued a report describing its policies of quantitative easing – similar to the Fed’s – as benefiting mainly the wealthy. QE drives up the prices of financial assets. Most Americans have about 50% of their wealth tied up in their houses. The top 5 percent have only 10 percent of the wealth tied up in homes with one-third to 40 percent in financial assets. So, the wealthy will get the lions share of the benefits. What a surprise.
10 Shocking Quotes About QE3
Here are a few…
1. From Ron Paul… “It means we are weakening the dollar.”
2. From Donald Trump… “People like me will benefit from this.”
3. John Williams of Shadowstats… “That’s absolutely nonsense. The Fed is just propping up the banks.”
4. From me… “After preparing, keep stacking physical.”
Okay, I was saying that long before the QE3 announcement.
Silver Price Explosion Driven by Physical Shortage
Eastern countries and non-G-6 Central Banks have been accumulating tons of gold. In addition, China could be considering to back its currency up by gold. With that said, John Embry believes that most people tend to overestimate the physical gold and silver market; in that, the market is already tight. As central planners keep on flooding the markets with easy money, they stimulate at the same time the demand for precious metals and this will cause their value to skyrocket.
A Glimpse of Near Future Headlines
This video shows some very possible headlines from Zerohedge to the LA Times, that we may see in the not-so-distant future. I thought the ad saying “Gold: You are too late” was interesting; however, the one stating President Romney declaring Martial Law was pretty scary.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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