News Commentary

Investors Say: “Mises Was Right!”

"Bernanke made a comment about the possibility of changing this policy later in 2013, but only if the economy continues to grow. The financial media headlined this statement. Stock markets immediately tanked. Why? Because investors believe that the world’s economic recovery is dependent on the $1 trillion counterfeiting operation, no matter what the general economic statistical indicators say. They do not trust the FOMC’s judgment in assessing these indicators. They do not trust anything except counterfeit money. In short, they are becoming implicit Austrian School economists. They see that mass monetary inflation has rigged the capital markets." Continue reading →

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Bill Bonner: All Hell Breaks Loose!

"The Dow fell -353 points. Gold lost $87 an ounce. What does this tell us? It shouts a warning: Ben Bernanke is losing control. He desperately wants inflation. He's getting deflation instead. He wants low interest rates; yet rates are rising. Bernanke is now getting the worst kind of deflation – sluggish price increases against a backdrop of rising interest rates. This is the exact opposite of what the Fed wants... and needs. Its strategy is to hold interest rates down while it pushes up consumer and asset prices. Instead, the debt gets heavier as yields rise. Backs ache. Legs buckle. Nerves crack." Continue reading →

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Welcome to the Real World

"Bond holders were rudely awakened, but other sources of yields took major hits as well, such as REITs and utilities, which have been down over 10% in the last two months. Higher rates are doing those investors a favor – this is officially fair warning of things to come. I'd rather take a 10% loss on bonds or a utility stock now than take an even bigger loss when the Fed pulls rates higher. If you haven't already gravitated to shorter-term maturity bonds, it's time to seriously consider it. The party isn't quite over yet for long-maturity bonds, but the bartender is making the last call. It's time to get out of the bar before you get kicked out." Continue reading →

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“Stalin Would Love This…”

"There are dark, unspoken consequences of lists and information gathering. We’ve seen this before. While President Obama dismissed concerns about his administration’s domestic spying operations as 'minor intrusions' on our liberties, the truth is quite different if one actually takes the time to think about the potential implications of such massive data gathering. And can we really be accused of overreacting with the IRS abuse of targeted groups and the government leaks of late? No one but the self-deluded thinks that our data is unfailingly safe and in the hands of the most competent and trustworthy among us." Continue reading →

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Edward Snowden and the Wolf Who Cried Plant

"At some point, an emerging police state stops trying to hide or justify its nastiness and starts emphasizing and flaunting that nastiness — although it may do so subtly or indirectly instead of openly. Its minions no longer worry about convincing you they’re right. They’re content to just bully, threaten and scare you into submission. Naomi Wolf’s hypothesis is that the Snowden revelations may be an intentional instance of the latter — perhaps timed to distract attention from the trial of real whistleblower Bradley Manning — rather than an accidental failure of the former. Is she right? I don’t know. But the idea is far from outrageous, and should be taken seriously." Continue reading →

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This One Group of Bankers Can Help You Predict the Markets

"Fifty-eight of the world’s largest central banks are members of the Bank for International Settlements (BIS), a group that meets every two months behind closed doors in Basel, Switzerland. At their bi-monthly dinner meetings, the central bankers supposedly discuss monetary policy, the global markets and international money flows. But we don’t really know, because the meetings are private — no transcripts, no minutes and no journalists allowed. Even staff members are barred from the room. What is certain is that any major policy decisions made by any of the world’s large central banks are cleared through the BIS first. Its latest warning is a doozy." Continue reading →

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They Think You’re Naïve…

"When it comes to the financial markets, Bernanke is, without a question, the most powerful man in the world. On May 22, he suggested that the Fed may soon reduce the size of its money-printing program, known as QE. Since then, the market has experienced a small meltdown. More than $2.5 trillion has already been erased from the value of global equities. Some analysts think the Fed announcing the end of QE would be a good thing. They think it would indicate the Fed is confident the economy is strong enough to operate without stimulus. The only problem is the Fed is thinking about ending QE for a reason that has nothing to do with healthy economic growth." Continue reading →

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NSA Snooping on Americans Is Unconstitutional and Outrageous

"Even after 9/11, an American’s chance of being killed by terrorists is about the same as that of being killed by an asteroid and less than that of being struck down by lightning. President Obama recently gave a speech seemingly shining a light on the end of the tunnel in the war on terrorism. Apparently, that didn’t apply to snooping on Americans in that war. As a candidate prior to becoming president, Obama argued that no tradeoff existed between security and America’s unique and sacred liberties; yet after these government spying programs were leaked, he contradicted his early stance and opined we couldn’t have 100% security and 100% liberty." Continue reading →

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German Government Takes Off Mask, Emerges As Fascist Dictatorship

"The Greek national broadcaster was taken off air in the middle of a programme on Tuesday night without warning, without a public debate or a debate in parliament. A brave group of journalists have rebelled and keep a skeleton service going as a pirate station cheered on by supporters in scenes worthy of a fascist dictatorship. A poll shows two thirds of the Greeks oppose the closure of their national broadcaster, paid for by their taxes. The ERT was shut down by the police following a decree — considered illegal by many — by the EU/ECB/IMF Troika puppet, Greek Prime Minister Antonis Samaras. The move was greeted with applause by the German government." Continue reading →

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Cost to Store All US Phonecalls Made in a Year in Cloud Storage so it could be Datamined

"Because of recent news reports, I wanted to cross check the cost feasibility of the NSA’s recording all of the US phonecalls and processing them. These estimates show only $27M in capital cost, and $2M in electricity and take less than 5,000 square feet of space to store and process all US phonecalls made in a year. The NSA seems to be spending $1.7 billion on a 100k square foot datacenter that could easily handle this and much much more. Therefore, money and technology would not hold back such a project– it would be held back if someone did not have the opportunity or will." Continue reading →

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