Thursday, March 24, 2011

Debasement has never been so obvious

Become US President, Declare War!

Just as each new Emperor in Rome launched a new military campaign........

From: RussiaToday | Mar 23, 2011

The first U.S. air strike on Libya was actually carried out 25 years ago during the Reagan administration - and has since been followed by a number of other U.S.-led military campaigns. And now with Obama's involvement in Libya, it seems that conflict and the American Presidency, once again, go hand-in-hand. RT's Kristine Frazao looks back at a controversial timeline.

Japan nuclear update

From: AlJazeeraEnglish | Mar 24, 2011

Russia has joined the growing list of countries to impose a ban on Japanese food imports, as the country continues to struggle to cope with both a humanitarian crisis and the threat of a nuclear disaster.

On Thursday, two workers at the Fukushima Daiichi nuclear power complex were taken to hospital after being exposed to radiation. A third worker who was exposed did not require hospitalisation.

White smoke has been seen coming from four of the plant's six reactors, with national broadcaster NHK reporting that this is the first time reactor number one has emitted such smoke.

Libyan air strikes: Armed Forces minister admits there is no exit strategy

From the UK Telegraph:

Nick Harvey, the Armed Forces minister, was asked how long Britain would be involved in the military operation in north Africa. He replied: “How long is a piece of string? We don’t know how long this is going to go on for.”

His admission, three days into the intervention, came as ministers faced mounting pressure to set out the limits of Britain’s involvement and explain their eventual exit strategy.

MPs were becoming increasingly concerned that Britain would be “sucked in” to a prolonged conflict.

Adding to the sense of uncertainty, France and Britain remained at odds over a plan for Nato to take over command of military operations when the US winds down its involvement, a transition expected in on

Ireland - Call for test cases to claim for ‘reckless lending’

From The Irish Examiner:

A POTENTIALLY groundbreaking test case claiming banks and the former government are directly responsible for the financial ruin of tens of thousands of homeowners and property investors is set to be taken against the State.

The Irish Property Council (IPC) has confirmed it is seeking individuals badly damaged by 100% mortgages, "reckless lending" and "a lack of regulation" as part of a planned case seeking mass compensation.

Notices due to be published in newspapers tomorrow will argue that people’s lives have been ruined by the system that created the Celtic Tiger-era property bubble.

As a result, the IPC — which mainly represents small-scale builders, developers and property investors — will ask some of those affected to put their names forward as part of a test case seeking to force compensation from the state and the banking sector.

"The destruction of the property market has been caused by the reckless lending of our banks, lack of regulation by our government and the disregard of prudent advice on fiscal policy by the Government in power," the notice will on

Silver powers to new 31yr high in NY trade

Gold futures to a record high and silver to a fresh 31-year high

From Goldcore:

(Dow Jones)--Investors clamoring for safe places to put their money sent gold futures to a record high and silver to a fresh 31-year peak Wednesday.

The precious metals were shining in their roles as havens as euro-zone debt worries resurfaced, increasing the hand wringing among market participants already jittery about $106 oil, fighting in Libya and the nuclear crisis in Japan.

"The safe-haven mentality is growing," said George Gero, vice president with RBC Capital Markets Global Futures. "This is a global fear of inflation and upheaval."

The most-actively traded gold contract, for April delivery gained $10.40, or 0.7%, to settle at a record $1,438 a troy ounce on the Comex division of the New York Mercantile Exchange. Thinly traded March gold also rose $10.40, to $1,437.90, a front-month record settlement.

"It would be hard to imagine a more bullish scenario for gold and silver given the real macroeconomic and geopolitical uncertainty and risk in the world today," a note from Dublin-based bullion dealer GoldCore said.

Japan nuclear update

Osborne Lowers U.K. Growth Forecast, Increases Borrowing

This will be a boon for precious metals investors purchasing in GBP, even if Gold & Silver prices remain static, which of course they wont ~ TOTM

From Bloomberg:

Chancellor of the Exchequer George Osborne said the British economy will grow more slowly than forecast in 2011 and the U.K. will need to borrow more than previously thought in the next five years.

The Office for Budget Responsibility predicts 2011 growth of 1.7 percent, down from the 2.1 percent forecast in November, Osborne said in his budget speech in the House of Commons in London today. The government will borrow 122 billion pounds ($198 billion) next year compared with an earlier forecast of 117 billion pounds. The chancellor said he will stick to his plan to eliminate the bulk of the deficit by on