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Wednesday, 23 March 2011
Coming to a stock market near YOU! Egypt Stock Market Opens, Plunges, Triggers Circuit Breakers, Closes
So much for that $25 million EGPT ETF as being a leading indicator. AP dscribes what can only be summarized as the funniest plunge-protection free market reopening in history: "Shares on Egypt’s stock exchange plunged Wednesday as the market reopened after being shut for nearly two months because of the mass protests that toppled former President Hosni Mubarak. Egypt’s finance minister was on hand as men dumped confetti on the trading floor to mark the resumption of trading. But within seconds of the opening, trading was once again halted as an intense sell-off drove shares below pre-set limits put in place to slow any sharp declines. The market reopened half an hour later. The benchmark EGX 30 index was trading down 9 percent at 5,137 points by early afternoon, recovering slightly from a drop of nearly 10 percent earlier. Finance Minister Samir Radwan called on investors not to panic." Of course, where some see panic, others may see responsible selling of liquid assets as the clusterflock of black swans is now flying high in the troposphere and following the Gulfstream.
Central Banking is a blight on humanity
The financial commentator and GATA consultant Rob Kirby talks in the following exclusive interview about “the rotten state“ of the precious metal markets, the highly questionable activities of central banks, why gold/silver are in no bubble at all, and his thoughts on a One World Currency.
"Silver historically should be 1/10th to 1/15th the price of gold. This means that silver should NOW be priced at $140+ per oz. Silver is likely the most mispriced asset on the planet today."
"Silver historically should be 1/10th to 1/15th the price of gold. This means that silver should NOW be priced at $140+ per oz. Silver is likely the most mispriced asset on the planet today."
U.S. rescue chopper shoots six Libyan villagers as they welcome pilots of downed Air Force jet
'Six Libyan villagers are recovering in hospital after being shot by American soldiers coming in to rescue the U.S. pilots whose plane crash-landed in a field.
The helicopter strafed the ground as it landed in a field outside Benghazi beside the downed U.S. Air Force F-15E Eagle which ran into trouble during bombing raid last night. And a handful of locals who had come to greet the pilots were hit - among them a young boy who may have to have a leg amputated because of injuries caused by a bullet wound.'
Russia urges immediate Libya ceasefire
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"Russia wants to see an immediate ceasefire in Libya and the start of political negotiations," Defense Minister Anatoly Serdyukov told visiting US Defense Secretary Robert Gates on Tuesday.
"We are convinced that the shortest path to the safety of peaceful civilians is through an immediate ceasefire and the start of dialogue," Serdyukov added. The call comes after Russia's prime minister denounced a UN Security Council resolution authorizing a military offensive against Libya.'
“The Ultimate Recipe For Revolution.”
Prepare for… “The Ultimate Recipe For Revolution.”
Let’s just go over some statistics here:
Let’s just go over some statistics here:
· 59 Million people without health care
· 52 Million in poverty
· 44 Million on food stamps
· 30 Million in need of work
· 7 Million foreclosed on
· 5 Million homes over 60 days late on mortgage payments
· $1 Trillion in student debt
- Read more: UPDATED WITH TRANSCRIPT – Empire State Rebellion: An Idea Whose Time Has Come (A99 Video)
Fukushima Smoking Gun Emerges: Founding Engineer Says Reactor 4 Has Always Been A "Time Bomb", Exposes Criminal Cover Up
It was only a matter of time before someone grew a conscience, and disclosed to the world that in addition to the massive cover up currently going on with respect to the true extent of the Fukushima catastrophe, the actual plant itself, in borrowing from the BP playbook, was built in a hurried way, using cost and labor-cutting shortcuts, and the end result was a true "time bomb." Bloomberg has just released a report that if and when confirmed should lead to the prompt engagement of harakiri by the Hitachi executives responsible for this unprecedented act of treason against Japan's citizens. Quote Bloomberg: "One of the reactors in the crippled Fukushima nuclear plant may have been relying on flawed steel to hold the radiation in its core, according to an engineer who helped build its containment vessel four decades ago. Mitsuhiko Tanaka says he helped conceal a manufacturing defect in the $250 million steel vessel installed at the Fukushima Dai-Ichi No. 4 reactor while working for a unit of Hitachi Ltd. in 1974. The reactor, which Tanaka has called a “time bomb,” was shut for maintenance when the March 11 earthquake triggered a 7-meter (23-foot) tsunami that disabled cooling systems at the plant, leading to explosions and radiation leaks....“Who knows what would have happened if that reactor had been running?” Tanaka, who turned his back on the nuclear industry after the Chernobyl disaster, said in an interview last week. “I have no idea if it could withstand an earthquake like this. It’s got a faulty reactor inside.” What follows is the harrowing tale of a criminal cover up at the only reactor that luckily was empty when the catastrophe occurred. We can only imagine what comparable horror stories will emerge in the next several days as other whistleblowers emerge and disclose that Reactors 1 through 3 (which unfortunately do have radioactive fuel in their reactors) passed the same "rigorous" quality control process that makes them the same time bombs just waiting or the signal to go off (and probably already have... but since the truth is the last thing the public will uncover one can only speculate).
US Inflation On Track To Hit 8.3% In 2011
Chasing all the fluttering glow in the dark swans over the past month has put some of the key issues facing the US economy on the backburner. But just like today's surging inflation update in the UK confirmed, there is only so long that any given crisis can be used a distraction from the real problems at hand. And here is where we stand: per a quick check with the recently released and constantly updated MIT billion price project, which just happens to correlate 93% with the CPI, 2011 inflation in the US is trending at an 8.3% annual rate of increase. This is only comparable to China, which just happens to have a growth rate (presumably that is double that of the US), and is almost three times higher than the latest inflation data released by... Zimbabwe. Below is the most recent inverse disinflationary data confirmation from MIT (and plotted by John Lohman). By now we hope readers are honing their iPad eating skills.
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