Bullshit Artists

Justice Department to review DEA’s mass surveillance program

"The Justice Department is reviewing a U.S. Drug Enforcement Administration unit that passes tips culled from intelligence intercepts, wiretaps, informants and a large telephone database to field agents, White House Press Secretary Jay Carney said Monday. 'It’s my understanding… that the Department of Justice is looking at some of the issues raised in the story,' Carney said during his daily briefing at the White House on Monday. Carney referred reporters to a Justice Department spokesman, who confirmed that a review was under way, but declined further comment." Continue reading →

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A Helping Hand for Bernanke and Co.

"Especially in the spirit of Mr. Bernanke’s commitment to transparency and accountability, his concluding remarks surely encourage the prospects for passage of the pending legislation introduced by Rep. Kevin Brady (R-TX), chairman of the Joint Economic Committee, to constitute a Centennial Monetary Commission, HR 1176. The legislation’s purpose: 'To establish a commission to examine the United States monetary policy, evaluate alternative monetary regimes and recommend a course for monetary policy going forward.' The duties set forth for the commission fully coincide with Mr. Bernanke’s public call." Continue reading →

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Ron Paul: Why Won’t They Tell Us the Truth About NSA Spying?

"The Senate Judiciary Committee yesterday heard dramatic testimony from NSA deputy director John C. Inglis. According to the Guardian, the NSA has previously claimed that 54 terrorist plots had been disrupted ‘over the lifetime’ of the bulk phone records collection and the separate program collecting the internet habits and communications of people believed to be non-Americans. On Wednesday, Inglis said that at most one plot might have been disrupted by the bulk phone records collection alone. We do not have to accept being lied to – or spied on -- by our government." Continue reading →

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Long Term US Interest Rates Hit Two Year High

"Long-term interest rates are on the climb again in the United States. Below is a chart showing the interest rate of the 10-year Treasury note since June, 2011. The rate hit a 2-year high today. This despite Fed bond purchases. In the EPJ Daily Alert, I have forecast that this is the start of a multi-year climb in rates. Despite absurd comments by members of the Fed that price inflation is below target, the MIT billion prices index shows price inflation is above target at around 2.5%. Buckle your seat belt." Continue reading →

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Senator Chambliss: NSA program helped gather current ‘terror chatter’

"'There is an awful lot of chatter out there,' Senator Saxby Chambliss, the top Republican on the Senate Intelligence Committee, said on NBC’s 'Meet the Press.' He said 'chatter' – electronically monitored communications among terrorism suspects about the planning of a possible attack – was 'very reminiscent of what we saw pre-9/11.' Chambliss said one of the surveillance programs revealed by former spy agency contractor Edward Snowden had helped. Those programs 'allow us to have the ability to gather this chatter,' he said. 'If we did not have these programs then we simply wouldn’t be able to listen in on the bad guys.'" Continue reading →

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John Kerry hopes drone strikes end ‘soon,’ State Dept thinks otherwise

"After nearly two years of rocky relations, Secretary of State John Kerry went to Pakistan to begin to repair ties between the US and its ally. Pakistani officials were outraged over the impunity of US drone strikes in the Muslim nation and RT's Erin Ade has more Kerry's comments regarding the matter." Continue reading →

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Indianapolis “Officer of the Year” attacks man in under 16 seconds of conversation

"Brian Hudkins was disputing with hotel staff over the fact that unauthorized people had entered his hotel room. He was upset but not in any way aggressive. He even clasped his hands behind his back. That's when 'Officer of the Year' T. Michael Wilson and Brian Hudkins began interacting. Video shows that in only 16 seconds of talking to Hudkins, he inexplicably grabs him by the shoulders and tackles him violently to the ground. Hudkins had his hands behind his back during the entire body-slam maneuver. Hudkins suffered cuts and bruises, an injured shoulder, was denied medication, and has had his business and reputation suffer." Continue reading →

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Indian central bank has debased the rupee 99% vs the dollar; no hope in next Guv too

"The rupee has lost almost 99 percent of its value against the US dollar since 1947 when the rupee was at parity with the dollar. The dollar itself has been no great paragon of virtue and has lost 98 percent of its value against gold in the same period ($35/ounce in 1947 to around $1,330 today). So to state the the RBI has decimated the value of the rupee would actually be an understatement of sorts. But it continues to amaze me when I see the RBI Governors being extolled to the realm of divinity by the media. 'Headless Chicken' would be a much more appropriate description of how they have performed over the last few decades." Continue reading →

Continue ReadingIndian central bank has debased the rupee 99% vs the dollar; no hope in next Guv too

Top 10 gold miners: cash cost reporting comes home to roost

The full absurdity of cash cost reporting for gold miners is really coming to the fore with the latest batch of quarterly and half yearly reports from the world’s leading gold mining companies. On a cash costs basis virtually all the world’s significant gold miners would appear to be profitable – most highly so, yet as we foreshadowed ahead of them on Mineweb the latest quarterly and half yearly profit figures coming out of the gold mining sector are, virtually without exception, dire. One might have been forgiven from asking in the past why reported earnings have invariably worked out as being way below the optimistic estimates suggested by cash cost reporting." Continue reading →

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The ‘new GDP’ methodology: What you need to know

"The Commerce Department has made changes to how it calculates gross domestic product, designed to have the data better reflect the so-called knowledge economy. The U.S. government adjusted data all the way back to 1929, and other countries have or are about to make similar changes to their data. At the same time, the government also went back and revised data for the past five years.What’s the upshot? The rate of growth hasn’t changed all that much, though there are big shifts in a few time periods. But the level of output is higher — $559.8 billion larger, with $526 billion of that amount due to definitional changes." Continue reading →

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