Wednesday, August 1, 2012

David Morgan - Silver $35 - $40 by the end of the year, Gold $1,850

Jul 31, 2012 by silver guru

Obama's 'License To Kill' Being Questioned By Congress

Jul 31, 2012 by TheYoungTurks

"Congress is finally standing up to President Barack Obama on targeted killing. Almost a year after three American citizens were killed in US drone strikes, legislators are pushing the administration to explain why it believes it's legal to kill American terror suspects overseas. Congress is considering two measures that would compel the Obama administration to show members of Congress what Sen. Chuck Grassley (R-Iowa) calls Obama's "license to kill": internal memos outlining the legal justification for killing Americans overseas without charge or trial...".* The Young Turks host Cenk Uygur breaks it down.

John Hathaway on Fed & ECB easing

John Hathaway discusses the recent rally in gold prices and the possible easing of monetary policy the Fed and ECB. Listen to the KWN interview here

Facebook fiasco hits UBS profit

More Paper Cuts for UBS

Jul 31, 2012 by Euronews UBS has suffered a surprise slump in profit. The Swiss bank's second-quarter net profit more than halved to the equivalent of 354 million euros.

Tuckwell tips gold to hit $3,000


The gold price could surge to $US3,000 an ounce as the United States prints money to try to stimulate jobs growth, one of Australia’s most successful financial entrepreneurs ­predicts.

Graham Tuckwell, founder of ETF Securities in the United Kingdom, has an estimated fortune of $775 million and was the wealthiest debutant on the 2012 BRW Rich List.

He said the reluctance of Western governments such as the US to rein in their spending would leave them no choice but to print money and drive down the value of their currencies to repay debt.

“In US dollar terms, the [gold] price could go up substantially,” Mr Tuckwell said. Gold was at $US1,618 an ounce ­yesterday but could reach $US3,000, he added.

Read in full here

The Spanish Economic Crisis

Jul 31, 2012 by GoldMoneyNews

What caused the Spanish economic crisis, and how safe is your money in banks? Maria Blanco, economist and member of the Instituto Juan de Mariana; Doctor in Economics Juan Castaneda; Marion Mueller, founder of; and journalist Miquel Roig discuss this and more over coffee at Madrid's Café Gijón.

Spain Reports Record Capital Flight

From Spiegel Online

Original source

Capital outflows from Spain more than quadrupled in May to €41.3 billion ($50.7 billion) compared with May 2011, according to figures released on Tuesday by the Spanish central bank.

In the first five months of 2012, a total of €163 billion left the country, the figures indicate. During the same period a year earlier, Spain recorded a net inflow of €14.6 billion.

The outflow has resulted from domestic banks sending money abroad, foreign lenders pulling out cash and mostly non-resident investors dumping Spanish assets. The steep rise was likely due to Bankia, the banking conglomerate, having requested a bailout in May.

Over the last 11 months, funds equivalent to 26 percent of gross domestic product exited the country, Tuesday's data from the Bank of Spain showed.

Power Outages in India affect up to 600 Million

And fortune 500 companies want to offshore all IT work to India? Hope they sent some caterpillar diesel generators with all those jobs.

From Bussiness Insider


After a massive power outage that impacted 370 million people on Monday. North, east, and north-east India were impacted by a second blackout today that hit 600 million people.

While these power cuts were blamed on agri-rich states that drew more power than was allocated to them, India's corruption problems and lack of reforms have deterred investments in the country's power sector.

Read more:

Traffic chaos in Delhi as signals fail

Jul 31, 2012 by AssociatedPress

India's energy crisis cascaded over half the country Tuesday when three of its regional grids collapsed, leaving 620 million people without government-supplied electricity for several hours in, by far, the world's biggest blackout. 

Capital Account - Mike Maloney tells Ben Bernanke to "Quit and Close the Federal Reserve!"

Loving Mike's 999.9 tie

Jul 31, 2012 by CapitalAccount

The FOMC's two day meeting starts today and the ECB will meet later this week, amid the heightened expectations that the central banks are moving toward new actions. But, according to the Wall Street Journal, doubts linger as to whether central banks even have the tools to fix the economic problems they face. A lot of the money the Fed has tried to pump into the economy has wound up right back at the Fed. We will talk to Mike Maloney about what the Fed's actions mean for the lives of average people.

Sweden rejects offer to meet Assange

Jul 31, 2012 by RussiaToday

Sweden has rejected a request by Ecuador to interview Julian Assange in the South American country's embassy in London - that's according to Wikileaks Twitter feed. The whistleblower has been holed up in the embassy for the past six week seeking asylum in Ecuador. Assange wants to avoid being extradited to Sweden over sex crime allegations and fears he will then be sent to the US.

Keiser Report: Virtual Virtual Economy

Jul 31, 2012 by

In this episode, Max Keiser and Stacy Herbert discuss the virtual virtual economy getting hit by a dustbowl and there are no gully washers or toad stranglers on the horizon to bring reliefe; meanwhile out in the virtual real economy it's all the bath-salts and beer you can drink and scalps for sale in California as eminent domain falls into the hands of private bankers. In the second half, Max interviews Teri Buhl about the possibility of San Bernardino county using eminent domain to seize mortgages from one set of rich private investors to give them to another set of rich private investors.