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Michigan Says Enough To Fed: Takes Matters Into Own Hands As It Starts Using Own Currency...And Gold
Either in anticipation of QE2 which will cut the value of the dollar by another 50% once another $2 trillion in toxic crap becomes the "assets" backing the viability of the dollar, or just because they are sick of Fed policies, mid-Michigan has taken monetary matters into their own hands, and in one simple act, completely bypassed the destabilizing influence of the domestic currency printers. As ConnectMidMichigan reports, "New types of money are popping up across Mid-Michigan and supporters say, it's not counterfeit, but rather a competing currency. Right now, you can buy a meal or visit a chiropractor without using actual U.S. legal tender.. » read more
Rust Discovered On Bank Of Russia Issued 999 Gold Coins
Here's a head scratcher: as everyone knows from elementary chemistry courses, gold is the most inert metal in the world - it does not rust, nor corrode. Yet this is precisely what Russian commercial precious metal trading company, International Reserve Payment System, discovered on thousands of (allegedly) 999 gold coins "St George" (pictured insert) issued by the Central Russian Bank. The serendipitous discovery occurred after various clients of the company had requested that their gold be stored not in a safe, but in a far more secure place: "buried under an oak tree." As the website of IRPS president German Sterligoff notes: once buried, "the coins began to oxidize under the influence of moisture." And hence the headscratcher: nowhere in history (that we know of) does 999, and even 925 gold, oxidize, rust, stain, spot or form patinas, under any conditions.. » read more
Hell Has Come to South Louisiana
Clint Guidry is a shrimper from Lafitte, Louisiana. As we sit together, he shows me a picture of his house with 18 inches of water in it as a result of Hurricane Ike in 2008. In his deep voice, he looks me in the eye and says, “My fear is repeating this situation, but with this water with oil on top of it.” Guidry represents all the shrimpers in Louisiana, given that he is the Shrimp Harvester Representative on the Louisiana Shrimp Task Force that was created by the state’s governor. Prior to this fishing season, he, like the rest of Louisiana’s fishermen, was excited for good season, with the price of shrimp per pound finally weighing more in their favor.. » read more
Gold reclaims its currency status as the global system unravels
We already know that the eurozone money markets seized up violently in early May as incipient bank runs spread from Greece to Portugal and Spain, threatening the first big sovereign default of our era. Last week gold surged to an all-time high of $1,258 an ounce Photo: Alamy A further 323,000 US families were hit with foreclosure notices last month Photo: Bloomberg News Recent protests in Greece over austerity measures. The country's public debt will rise from 120pc to 150pc of GDP under the IMF-EU plan Photo: AFP Jean-ClaudeTrichet, the president of the European Central Bank (EC), talked days later of "the most difficult situation since the Second World War, and perhaps the First". The ECB’s latest monthly bulletin gives us some startling details. It reveals that the bank’s "systemic risk indicator" surged suddenly to an all-time high on May 7 as measured by EURIBOR derivatives and stress in the EONIA swaps market, exceeding the strains at the height of the Lehman Brothers crisis in September 2008.. » read more
What does the BP "escrow" deal really mean?
People all around the country have put so much pressure on the Obama administration that it had to “do something” to look like it was standing up to BP. The announcement today of a so-called $20 billion escrow fund from BP would never have happened without mass pressure. But does this fund truly respond to the needs of the people in the Gulf Coast states? Too much is at stake for people to let down their guard and accept the “feel good” sound-bite version of what took place today in the meeting between President Obama and BP’s executives. The White House and BP are creating a mythology, or "spin," on what the tentative agreement signifies. It is noteworthy that BP's executives are very happy with the new agreement.. » read more
BP Official Admits to Damage BENEATH THE SEA FLOOR
As I noted Tuesday, there is growing evidence that BP's oil well - technically called the "well casing" or "well bore" - has suffered damage beneath the level of the sea floor. The evidence is growing stronger and stronger that there is substantial damage beneath the sea floor. Indeed, it appears that BP officials themselves have admitted to such damage. This has enormous impacts on both the amount of oil leaking into the Gulf, and the prospects for quickly stopping the leak this summer. On May 31st, the Washington Post noted: Sources at two companies involved with the well said that BP also discovered new damage inside the well below the seafloor and that, as a result, some of the drilling mud that was successfully forced into the well was going off to the side into rock formations.. » read more
Iran To Dump 45 Billion Euros For Gold Bullion & Dollars
Gulf states also begin to flee from collapsing single currency The Central Bank of Iran is set to dump a whopping 45 billion euros in exchange for gold bullion and dollars as Gulf states also prepare to flee from the ailing single currency amidst debt turmoil in Europe that threatens to disintegrate the entire region. According to the Iranian state website Press TV, Iran’s central bank has already begun converting its euro reserves into gold and dollars as a response to the “downward spiral” of the euro, in the first of a three phase movement to flee from the currency. The report also claims that Gulf states are also beginning to switch their euro reserves into dollars and gold as some forecast the single currency could sink to parity with the U.S. dollar by next year.. » read more
Customer stuck with counterfeit money form the post office
“The police said the $100 bills were actually $5 bills that had been bleached and altered,” recalls L.A. resident David Lipin. “They showed me how you could hold them up to the light and see Abraham Lincoln’s face." (Brian van der Brug, Los Angeles Times) Business inadvertently gives you counterfeit money — are you stuck with it? In most cases, yes.. » read more
Weekly Geopolitical News and Analysis100524: France, Germany and Holland are planning new currency to follow the demise of the Euro
The collapse of the Euro is now inevitable and as a result the French Rothschilds, who control France, Holland and Belgium (via the Freemason Grand Lodge de L’orient) and the German Freemasons are planning a new currency. Meanwhile the owners of the Federal Reserve Board have been caught trying to cash bogus financial instruments on three different continents in a desperate last minute push to save themselves. The new financial system should dawn soon and humanity will be free.. » read more
Glenn Beck and Rep. Anthony Weiner: A Fight for the Gold
The end is near, buy gold. That's been right-wing talker Glenn Beck's advice to those who listen to his syndicated radio show and watch his Fox News show. You need to "think like a German Jew in 1934, maybe 1931," he has said -- and that means loading up on the yellow, shiny stuff, so that when economies and currencies collapse, you'll be able to buy food (or letters of transit). Beck is free to give whatever economic advice to his fans, but he has blended his analysis with self-serving commerce, promoting a particular gold coin retailer called Goldline, which has too often ripped off customers by peddling coins at much higher prices than their true value and selling them as solid financial investments. Not coincidentally, Goldline is a major sponsor of Beck's radio and TV shows.. » read more
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