Germany’s Constitutional Court
Despite a plea from a member of the German Parliament, Germany’s Constitutional Court will rule on the ESM today. If the court does not uphold the ESM in its ruling, it will plunge the euro-zone deeper into turmoil and hasten the euro’s demise. If the court approves the bailout fund and budget package, it will come with tough conditions that will most likely ignored. The court ruled to uphold the ESM.
Germany Says U.S. Debt Levels “Much Too High”
In private, German officials often express concern about U.S. debt levels and the inability of politicians to reach a consensus on how to reduce it. They wonder how the U.S. will deal with high levels of government debt after the November election. Well to answer that, that may be what the 1.4 billion hollow point bullets, purchased by the Department of Homeland Insecurity, are for. How else, does one get rid of those people dependent upon government? No more Social Security, Food Stamps or Medicare spending; thus, the debt is solved. For some, this could be dream come true.
Moody’s Expects to Cut US Rating
Moody’s, is looking for the following from the U.S. Government…
1. Good budget negotiations in Washington. Forget about it.
2. A Downward trend in debt-to-GDP ratio. Forget about it.
3. Relatively orderly process to increasing the debt limit. Forget about it.
No QE3 Coming, Gold and Silver to Crash
Jeffrey Christian, of the CPM Group, states that the Fed will not announce QE3 and he expects gold to immediately crash to $1550. You know, he may be right; in that, the FED may not officially announce QE3 since they have already are doing it under the table. If gold and silver does crash, then it will be another buying opportunity folks.
$100 Silver Soon
According to Bill Murphy, from GATA, he is not surprised that JP Morgan has been dishonest with its oversight of the SLV ETF. Because of the manipulation, and the upcoming JP Morgan scandal that is about to break, silver may soon see $100 an ounce because of the tight supply of physical out there. In fact, JP Morgan is short 3 times the amount that is in the deliverable supply in the COMEX alone.
Silver is a Toxic Threat to the Environment
Demand for silver is taking on historical new proportions from an informed public. With that said, public health officials and regulators are crying for increased regulation and a general crackdown on the use of silver in the environment. In addition, Keynesian environmentalists believe that we could have a silver plague. If you also feel that having physical silver is dangerous, please send all of your physical silver to me and I will stack err… dispose of if properly. For a small fee of course.
Well, it appears that dozens of senior-level government officials will fall on the sword for Holder and Obama as a report, to be released, accuses them of pursuing an ill-conceived and poorly managed operation that has resulted in hundreds of deaths. Needless to say, these officials will most likely either end up with a promotion, transfer, or they will have a fatal accident.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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