Wednesday, February 27, 2013

Gold Jumps Most in 3 Months on Bernanke Testimony

Large meteor fragment found in Russia

From AlJazeeraEnglish

Titanic II

An eccentric Australian wants to build an exact replica of an Irish made ship in China so fat Americans can pretend they are part history - hmm.

From AssociatedPress

Army won't drop charges against Bradley Manning

From RTAmerica

Jim Rogers on the UK Ratings Downgrade and Currency Debasment

From JimRogersChannel

Monti pays price for austerity policy

From PressTVGlobalNews

Jim Grant - Fed action will prompt a return to the Gold Standard

Italian election deadlock spooks market

Text from

Original Source

GLOBAL investors have returned to the edge of their seats as a knife-edge Italian election has raised fears the eurozone debt crisis could resurface.

Australia's share market lost 1 per cent on Tuesday after Italy's election saw disgraced PM Silvio Berlusconi locked in the lead with former comedian Beppe Grillo.

This stoked fears among investors and initially wiped 1.5 per cent from the value of the bourse. Despite staging a fightback through the day the bourse closed 1 per cent lower overall.

The jitters came as the Reserve Bank warned the cash rate could be used to offset the impact of a high Australian dollar.

These comments, and suggestions the RBA could intervene in currency markets if conditions demanded it, drove the dollar down to below US102.5¢.

Robert Rennie, Westpac's chief currency strategist, said Italy's deadlocked election result would rattle financial markets because it heralded a deterioration in European politics.

"The idea that Berlusconi was finished will now need to be rethought,'' he said.

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Gold Surges back over $1600

Gold overnight surged back over the $1600 level on renewed concerns of EU stability in the wake of Italian election results and comments from Easy Ben in testimony to Congress.

Chart from
  From AssociatedPress

Keiser Report - Media Moron Mockery

In this episode of the Keiser Report, Max Keiser and Stacy Herbert notice that the mainstream media mocks the jury in the UK dismissed for being too stupid to understand basic concepts of jury trial like 'guilt beyond a reasonable doubt;' when, in fact, the same media takes financial regulators seriously when they say they can find no evidence of financial crime. They spot Gary Gensler, Chairman of the Commodities Futures Trading Commission, on BBC News seemingly incapable of understanding that Libor rigging is 'fraud' and not merely a 'fiction' as he suggests.

In the second half of the show, Max Keiser talks to renowned mathematician and monetary scientist, Professor Antal Fekete, about the gold basis - cash versus the nearest futures contract and why that the cash price for gold is never reported is by design. They also discuss gold repatriation from Germany as a trial balloon, to see how much demand there is for cash gold and how it is that permanent backwardation means internal bleeding in the monetary system.

From RussiaToday

Sea Shepherd battles on in the Southern Ocean

I was fortunate to be on Sydney Harbour when the SSS Steve Irwin sailed under the Harbour Bridge, and past several idle and significantly larger Australian Navy vessels moored at Garden Island naval base, on its way to the Southern Ocean. I thought at the time whilst that ship is impressive it is smaller than even the passenger ferry from the CBD to Manly and they are going to the Southern Ocean in that? But I didn't think they would be getting smacked by plate steel as well as 40' waves.

Australia sends the Navy out to rescue boats that can't even get past the horizon of foreign countries yet it will not dispatch the Navy to capture foreign govt. sponsored ships illegally entering our waters and endangering our citizens, even when the majority of the people call for it. It seems trade concerns with the world's no. 3 economy outweigh any sovereignty or environmental concerns that this current govt. may have.

From Euronews