Monthly Archives: April 2013

EMU plot curdles as creditors seize Cyprus gold reserves

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“First they purloin the savings and bank deposits in Laiki and the Bank of Cyprus, including the working funds of the University of Cyprus, and thousands of small firms hanging on by their fingertips.  Then they seize three quarters of the country’s gold reserves, making it ever harder for Cyprus to extricate itself from EMU at a later date.  The people of Cyprus first learned about this from a Reuters leak of the working documents for the Eurogroup meeting on Friday.  This seemed to catch the central bank by surprise. Officials said they knew nothing about it. So who in fact made this decision?”

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100023990/emu-plot-curdles-as-creditors-seize-cyprus-gold-reserves/

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Obama Budget Contains Middle Class Income Tax Hike

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“Chained CPI means the Obama budget contains a tax increase on 100 percent of middle class taxpayers (anyone who pays the federal income tax).  Many other tax provisions—the standard deduction, the personal exemption, PEP and Pease, IRA and 401(k) contribution limits, and many others—are also tied to how CPI is measured. Chained CPI as a stand-alone measure (that is, not paired with tax relief of equal or greater size) is a tax increase and a Taxpayer Protection Pledge violation. Various reports peg the tax increase amount as exceeding $100 billion over the next decade.”

http://libertycrier.com/forum/obama-budget-contains-middle-class-income-tax-hike/

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Obama Will Become First President to Spend $4 Trillion in One Year

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“In the historical tables it released along with President Barack Obama’s fiscal 2014 budget proposal this morning, the White House Office of Management and Budget revealed that in fiscal 2016, under the president’s budget proposal, it expects Obama to become the first president in the nation’s history to preside over a federal government that spends more than $4 trillion in one year.  The OMB’s historical tables also reveal that the White House does not expect this administration to ever run an annual deficit as low as $458.5 billion, which was the deficit the government ran in fiscal 2008, the last fiscal year completed before Obama took office.”

http://cnsnews.com/news/article/omb-obama-will-become-first-president-spend-4t-one-year

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Bill Bonner: $10,000 each in two suitcases

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“Price controls didn’t work for the Romans. They didn’t work for the Germans. They didn’t work for the Zimbabweans or any of the other hundreds of governments that have tried them. But who knows? Maybe they’ll work for the Argentinians.  But inflation is just getting started here. The rate is officially about 10%. Unofficially, it’s 30%. Officially, you can trade a dollar for 5.4 pesos. Unofficially, you’d be a fool to do so. The black market rate is eight to the dollar – and more.  So what do we do? Every time we come to Argentina we bring the maximum – $10,000 each – in $100 bills. Then, when we need to buy things, we trade our dollars on the black market.”

http://www.moneyweek.com/news-and-charts/economics/global/bill-bonner-ten-thousand-dollars-two-suitcases-63511

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Jim Rogers: ‘I Suspect They’ll Take the Pension Plans Next; I’m Taking Preparations’

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Jim Rogers: ‘I Suspect They’ll Take the Pension Plans Next; I’m Taking Preparations’

“I was able to reconnect for an interview with legendary Quantum Fund manager and commodities bull, Jim Rogers. This was an especially groundbreaking interview, as Jim shared thoughts on what governments around the world will be taking next, and what he’s doing right now to protect his personal bank accounts following the Cyprus collapse.  With respect to which assets governments will likely be coming for next, Jim said, ‘401k plans, IRA’s, and pensions plans which the government knows about [may be next]…They’re rationale would be, ‘Well most people haven’t been doing well in their IRAs and pension plans for the past several years, so we’re going to help you.'”

http://lewrockwell.com/rogers-j/rogers-j182.html

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David Nghiem: Living Through Financial Collapse

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David Nghiem: Living Through Financial Collapse

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History’s Hidden Engine

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“Chronicling the new and revolutionary science of socionomics, History’s Hidden Engine is the result of more than three years of research and dedicated filmmaking by David Edmond Moore. In just 59 minutes and with the help of pop songs, news footage and cultural images, this documentary explores how social mood drives trends in movies, music, fashion, economics, politics, the media, and even the stock market. Moore traveled North America to capture the insights of 17 brilliant minds at the vanguard of socionomic research, and the results are nothing short of astonishing.”

http://www.socionomics.net/hhe-part-1/

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Meet the Bitcoin Millionaires

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“Many Bitcoin tycoons are devoting themselves to expanding the currency’s reach. Yifu Guo was a digital media student at New York University when he began mining some of the first coins, occasionally cashing in a few to help pay his rent. After he recognized Bitcoin’s potential, he quit school and founded a company called Avalon, which sells hardware built solely for the purpose of mining Bitcoins. Tony Gallippi is CEO of BitPay, a payment processor he co-founded in 2011 that enables online merchants to accept Bitcoins. He says he includes Bitcoins in his investment portfolio along with stocks, bonds, and real estate.”

http://www.businessweek.com/articles/2013-04-10/meet-the-bitcoin-millionaires

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Dad Finds 4th-Grader’s Crayon-Written Paper: ‘I’ll Give Up Constitutional Rights To Be Safer’

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“The words are written in crayon, in the haphazard bumpiness of a child’s scrawl.  ‘I am willing to give up some of my constitutional rights in order to be safer or more secure.’  They’re the words that Florida father Aaron Harvey was stunned to find his fourth-grade son had written, after a lesson in school about the Constitution.  Harvey’s son attends Cedar Hills Elementary in Jacksonville, Fla. Back in January, a local attorney came in to teach the students about the Bill of Rights. But after the attorney left, fourth-grade teacher Cheryl Sabb dictated the sentence to part of the class and had them copy it down, he said.”

http://www.theblaze.com/stories/2013/04/12/dad-furious-after-finding-this-crayon-written-paper-in-florida-4th-graders-backpack-i-am-willing-to-give-up-some-of-my-constitutional-rights/

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