Thursday, November 3, 2011
Next Financial Crash: Buy Here Pay Here Used-Car Dealers
According to a
report in the LA Times "Private equity firms are investing in chains of
used-car lots, and auto loans are being packaged into securities much
like subprime mortgages. They're attracted by the industry's average
profit of 38% for each car sold...". Guest hosts Richard Eskow and Brian
Unger discuss on The Young Turks.
Derivatives Destroying the World
Interview with 'Ranting Andy' Hoffman about Derivatives, the MF Global debacle, silve & gold and current events.
A military war of nerves against Iran
From Debkafile:The sudden rush of military news Wednesday, Nov. 2, was part of an orchestrated Western performance to persuade Tehran that the US, Britain and Israel are on the verge of a military operation against its nuclear installations. The show, directed from Washington, was meant to warn Iran that military punishment was in store unless it gives up its drive for a nuclear weapon. If Tehran continues to hold out, President Barack Obama may decide to strike Revolutionary Guards Corps, the bulwark of the Islamic regime, as well as its strategic infrastructure, thereby removing key props holding up the regime of the ayatollahs.
Contributing to the menacing climate hanging over Iran were four headline events involving Israel – all on the same Wednesday: Israel conducted a successful test launch of a new intercontinental ballistic missile, Jericho 3, which foreign sources report is capable of carrying a nuclear warhead 7,000 kilometers.
After that, the IDF released photographs of Israeli Air Force squadron leaders reporting from Italian air base runways to the media on joint exercises they had conducted in long-range maneuvers with the Italian air force "and other NATO nations," to familiarize the IAF with NATO military tactics.
The inference was clear: The Israeli Air Force was strengthening its cooperation with Western allies in preparation for a NATO assault on Iran. The IAF also got a chance to study the lessons Western alliance air force tacticians had drawn from the eight-month Libyan operation which ended on Oct. 31.
Next, the IDF's Home Command announced a large-scale anti-missile exercise in central Israel starting Thursday morning, Nov. 3.
Finally, Defense Minister Ehud Barak left for an unscheduled trip to London shortly after a secret visit to Israel by the British chief of staff General Sir David Richards earlier this week as guest of Israel's top soldier Lt. Gen. Benny Gantz.
If the British general was in Israel only this week, why was Barak is such a hurry to visit London?
The answer came from the British media, which reported as soon as he arrived that the Ministry of Defense in London had accelerated and upgraded its contingency planning for participation in a US-led assault on Iran. They carried an account of plans for deploying large naval units including submarines to the Persian Gulf.
The UK was reported to have asked Washington for permission to station its fighter-bombers on the Indian Ocean island of Diego Garcia for launching bombing sorties against Iran.
This whirlwind of military activity was said to have been prompted by the approaching publication of the International Atomic Energy Agency's Iran report next Tuesday, Nov. 8 and the conclusion the nuclear watchdog had reached: Inside 12 months, Iran will have tucked all its nuclear and ballistic missile facilities away in deep underground tunnels where they will be invulnerable to attack......read on
Alex Jones - The Green Light is on to Strike Iran?
Alex breaks down
the Greek economic implosion and the possibility the Mediterranean
nation will hold a referendum and may not pay the debt it is claimed
they owe to international bankers.
http://www.infowars.com/
http://www.infowars.com/
Rick Rule on the Euro vs US$
Chinese Silver Investment Going Parabolic
By Dan Collins
When 1.3 Billion people start investing in something…you might want to pay attention.
Chinese investment in silver has exploded since last year, with the trading volume going exponential. The China Daily reported today that the trading volume of silver forwards on the Shanghai Gold Exchange (SGE), China's only exchange for the precious metal, surged 751 percent year-on-year in 2010. Meanwhile, the volume in September of this year was more than six times that of the same period in 2010.
Chinese commercial banks are now selling silver to investors in the hundreds of tons. One example is the Industrial and Commercial Bank of China Ltd (ICBC), China's biggest lender which launched paper silver trading for individual investors in August of last year. The other large Chinese Banks have also introduced silver trading. The trading volume of ICBC's paper silver products alone reached 300 tons in the first half of 2011, almost four times the figure for the whole of 2010. That's right, one Chinese bank alone sold 300 tons or over 10.5 million ounces of silver in only 6 months. In only their first year of trading, ICBC bank alone will sell over 20 million ounces of silver which alone would represent over 2% of the total amount of silver mined on earth for the entire year.....read on
G-20 leaders detached from reality?
Tomorrow the G-20
summit will take place in France. Globally people are facing economic
adversity and feel these leaders aren't doing what's in the people's
best interest. Already tens of thousands of protesters have gathered to
show their dissatisfaction towards the state of the world economy.
Anissa Naouai is on the ground in Cannes to give us the latest.
Nomi Prins: "Governments Throwing Money at Banks to Gloss Over Ticking Time Bomb"
So how does what's
going on across the pond in Europe, with Greece and the Eurozone affect
Americans?
Well, US banks are a great place to start. They've reportedly sold a lot of insurance against credit losses to holders of risky Eurozone debt -- the number went up from $80 billion to $518 billion in the first half of the year according to the Bank of International Settlements. And Bank of America has taxpayers behind more than %53 trillion in derivatives via the FDIC as their positions keep rising. We talk with Nomi Prins -- senior fellow at the think tank Demos, author of Black Tuesday, and former managing director of Goldman Sachs -- about how we got here, and where we're headed.
here is the full episode of the Capital Account
Well, US banks are a great place to start. They've reportedly sold a lot of insurance against credit losses to holders of risky Eurozone debt -- the number went up from $80 billion to $518 billion in the first half of the year according to the Bank of International Settlements. And Bank of America has taxpayers behind more than %53 trillion in derivatives via the FDIC as their positions keep rising. We talk with Nomi Prins -- senior fellow at the think tank Demos, author of Black Tuesday, and former managing director of Goldman Sachs -- about how we got here, and where we're headed.
here is the full episode of the Capital Account
UK military steps up plans for Iran attack amid fresh nuclear fears
Britain's armed forces are stepping up their contingency planning for potential military action against Iran amid mounting concern about Tehran's nuclear enrichment programme, the Guardian has learned.
The Ministry of Defence believes the US may decide to fast-forward plans for targeted missile strikes at some key Iranian facilities. British officials say that if Washington presses ahead it will seek, and receive, UK military help for any mission, despite some deep reservations within the coalition government.
In anticipation of a potential attack, British military planners are examining where best to deploy Royal Navy ships and submarines equipped with Tomahawk cruise missiles over the coming months as part of what would be an air and sea campaign.
They also believe the US would ask permission to launch attacks from Diego Garcia, the British Indian ocean territory, which the Americans have used previously for conflicts in the Middle East.....read on
Al Jazeera World - Fighting in the Fifth Dimension
It has been called
the 'fifth dimension of warfare'. Along with land, sea, air and space -
the cyberworld is a new frontline. Innovations in technology are
changing the tactics of modern-day conflict, introducing new tools to
the world's arsenal.
'Let Eurozone collapse! Greeks, get out now!'
It's been confirmed
the Greek Prime Minister's proposed referendum on the latest EU bailout
will go ahead. George Papandreou's call shocked EU leaders, and sparked
chaos on world markets. It even came as a shock to Greeks themselves,
with pro-bailout MP's calling for his immediate resignation. The PM is
now due to fly to the G20 meeting in Cannes to explain his actions to
German Chancellor Angela Merkel and French President Nicolas Sarkozy,
the chief sponsors of Greece's financial life-support machine. Anthony
Wile is the founder and editor-in-chief of http://thedailybell.com welcomes the possible Eurozone collapse.
France tells Greece to hurry up on debt deal
http://www.euronews.net/
A Greek crisis meeting has been held in Paris with French Finance
Minister Francois Baroin, Prime Minister Francois Fillon, the governor
of the Bank of France, Christian Noyer, and the heads of the country's
top commercial banks who have lent Athens billions.
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