Brazil and the Global Payments Forum

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“Bitcoin, when compared to not only CNY but any national currency, is far less burdened by restrictions on its use. In fact, it has not one. While it’s still a tiny niche, Bitcoin is now in a race with other monies to outcompete them in the global market. And while these other currencies have a massive head start, as well as ‘government legitimacy,’ it remains to be seen how long these fiat currencies can outcompete a newcomer with so little regulatory, transitory, and technical burden. While the other runners might have fancy outfits sponsored by Team America and Team Europe, all are wearing shackles.”

http://blog.bitinstant.com/blog/2012/9/15/brazil-and-the-global-payments-forum.html

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Peter Schiff: ‘Operation Screw: The Fed goes all-in on QE’

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“The geniuses at the Federal Reserve have concocted a bold new plan to revive the U.S. economy — print a bunch of money, loan it to Americans at super low interest rates so they can speculate on rising real estate prices, extract the appreciated equity and spend it on consumer goods. In other words, build an economy of real estate, by real estate, and for real estate. The only problem is we’ve been there and done that. The last time it almost destroyed the U.S.economy. I guess almost isn’t quite good enough for the Fed, so now it’s determined to finish the job.”

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US Credit Rating Cut by Egan-Jones to AA-

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“In its downgrade, the firm said that issuing more currency and depressing interest rates through purchasing mortgage-backed securities does little to raise the U.S.’s real gross domestic product, but reduces the value of the dollar. In turn, this increases the cost of commodities, which will pressure the profitability of businesses and increase the costs of consumers thereby reducing consumer purchasing power, the firm said. Moody’s Investors Service currently rates the United States Aaa, Fitch rates the country AAA, and Standard & Poor’s rates the country AA-plus. All three of those ratings have a negative outlook.”

http://www.cnbc.com/id/49037337

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David Galland: Paradigm Collapse

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“The point is that the government of this degraded democracy – and of most of the world – is careening out of control. Worse, not only are the brakes of fiscal restraint broken, the government and its minions at the Fed are trying to fix the situation by pressing hard on the monetary gas pedal. And so it is that just yesterday, The Bearded One announced they are going to continue with Quantitative Easing to the tune of about $50 billion a month. Furthermore, as advertised, for the first time ever they are going to keep the taps open until, in their estimation, the economy has improved. It’s going to take a while.”

http://www.caseyresearch.com/cdd/paradigm-collapse

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Detlev Schlichter: Stimulus, to infinity and beyond

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“QE is no longer unconventional. It is the new normality. The central bank not only manipulates – persistently and systematically – short term interest rates and the supply of bank reserves so that credit remains constantly cheap, it now also manipulates the shape of the government yield curve, the cost of state borrowing, and risk premiums in the mortgage market. All of this requires ongoing balance sheet expansion at the Fed and open-ended money printing. And there is no exit strategy. This will end badly.”

http://papermoneycollapse.com/2012/09/stimulus-to-infinity-and-beyond/

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Argentines Turn Cash Into Condos in Miami

Posted on by Freedomwat.ch Staff

“Economic and political uncertainty around the globe are benefitting real estate in the United States, especially in Miami and New York, the two ‘safe haven’ American cities foreign investors usually look to first. In Argentina, a weakening peso and 25% inflation have spurred many affluent Argentines to move their money into American real estate by expensive and sometimes illegal means. Some Argentines have been willing to pay a black-market premium of up to 40% to convert their money into dollars at home, and a commission of up to 7% to transfer funds abroad through a currency exchange house, an illegal transaction.”

http://www.nytimes.com/2012/09/16/realestate/argentines-turn-cash-into-condos-in-miami.html?_r=1&pagewanted=all

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Well-to-do get mortgage help from Uncle Sam

Posted on by Freedomwat.ch Staff

“In Santa Clara County, the center of the global tech industry and one of the wealthiest places in the United States, most home buyers get help from the government. The same is true in other wealthy enclaves such as Nassau County, outside New York, and Arlington County, outside Washington, the analysis of more than 50 million loans finds. It is no secret that the U.S. government propped up the housing market after the financial crisis. What the analysis by Reuters makes clear is the extent to which government programs have helped some of the nation’s most well-to-do communities.”

http://in.reuters.com/article/2012/09/13/us-fanfred-lending-idINBRE88C0CY20120913

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The Fed Has Failed, Failed, Failed

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“If anything the Fed has done in the past four years had actually had a positive consequence in the real economy, Bernanke would have identifed that policy and expanded it in a measured response. Instead he went all-in, emptying the Fed’s toolbox in one big dump: unlimited money-printing, unlimited propping of the mortgage market, unlimited support of low Treasury rates and three more years of zero-interest rate policy (ZIRP).”

http://charleshughsmith.blogspot.com/2012/09/the-fed-has-failed-failed-failed.html

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Faber’s ‘Fed Counterfeiting’ Remark is Unusual but Not Extreme These Days

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“‘This unlimited QE (quantitative easing), buying mortgage-backed securities (MBS) and continuing operation twist has the implication of simply having asset prices go up and the money flows down to the Mayfair economy,’ Faber said. A Mayfair economy is one which benefits the wealthier and better off in society. ‘QE helps rich people whose asset prices go up and whose net worth then increases but it doesn’t flow to the man on the street who is faced with higher costs of living with price rises. You just have a small economy that is booming but the majority of the economy is damaged by QE.'”

http://www.thedailybell.com/4307/Fabers-Fed-Counterfeiting-Remark-is-Unusual-but-Not-Extreme-These-Days

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QE3: A Risky Ploy to Solve the Problems of Bad Fiscal Policy with Bad Monetary Policy

Posted on by Freedomwat.ch Staff

“For all intents and purposes, Bernanke has said that the Fed is going to relentlessly focus on the variable it can’t control (employment) at the risk of causing bad news for the variable it can control (inflation). Since that hasn’t worked in the past, it presumably won’t work in the future. For those of us who worry about the pernicious impact of inflation, it’s possible that the Fed will soak up all this excess liquidity at the right time. But don’t hold your breath.”

http://danieljmitchell.wordpress.com/2012/09/14/qe3-a-risky-ploy-to-solve-the-problems-of-bad-fiscal-policy-with-bad-monetary-policy/

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The Freedom Watch

International Intelligence for the Resistance

Monthly Archives: September 2012

Brazil and the Global Payments Forum

Peter Schiff: ‘Operation Screw: The Fed goes all-in on QE’

US Credit Rating Cut by Egan-Jones to AA-

David Galland: Paradigm Collapse

Detlev Schlichter: Stimulus, to infinity and beyond

Argentines Turn Cash Into Condos in Miami

Well-to-do get mortgage help from Uncle Sam

The Fed Has Failed, Failed, Failed

Faber’s ‘Fed Counterfeiting’ Remark is Unusual but Not Extreme These Days

QE3: A Risky Ploy to Solve the Problems of Bad Fiscal Policy with Bad Monetary Policy