Obama in Austin (and Not at the Border)

112
Fri, Jul 11, 2014 - 4:00pm

Obama was in Austin, Texas on July 10, 2014, so I went to downtown to protest. I would highly recommend getting off your computer and getting involved. When you are actually out in the thick of things, you see and experience things that you won't otherwise through the media filter.

The protest group was a mix of mostly conservatives and libertarians. Most were there over the border issue, but one independent protester displayed a sign admonishing Obama to stop making "killer robots" (i.e., drones). I did not carry my own sign, because I wanted to take photographs, but if I had my own sign of grievances, it probably would have needed to be 10 feet high.

My primary concern? That Obama is serving an elite plan to take down America and replace it with a soft dictatorship. The border invasion is just one piece of a much larger puzzle that includes malevolent market manipulation, a weakening dollar, and a strained American infrastructure.

The protest was unfortunately a bit disorganized due to its last minute nature and conflicting start times being shared. By the time we got to the Capitol, most of the group had already gone to the Paramount Theatre where Obama was speaking.

We walked down Congress towards the Paramount, and were told by a local police officer that we had to go stand at the opposite side of the street where a large crowd had formed. I said (a bit facetiously): "Oh, you mean the free speech zone over there, but this is not a free speech zone here?"


He said it was more of an issue with security, not free speech. He was nice about it and seemed sympathetic and amused. I gave him my thanks for being so good-natured in response to my "ball-busting." (Note, however, that after a half-hour or so, the side of the street he'd directed us away from was also filled with lookers-on.)

Most of the crowd waiting for the arrival of Obama's motorcade were not protesters, but they also did not seem like strong Obama supporters either. I saw no pro-Obama signs, hats, t-shirts, or even buttons. (And this is Austin, which is filled with idealistic young progressives.) Mingled among the crowd, however, were people who were clearly not fans of Obama, including this veteran who allowed me to take his picture (apologies for my fingers being in the way, I was borrowing a phone):

This man was quiet and soft-spoken, so his shirt yelled for him.


The mood was oddly subdued among the crowd. It seemed that most people were there just out of curiosity and perhaps happened to be passing through. No-one (other than a reporter) approached our group. There were no arguments, no impassioned supporters of amnesty looking for a verbal fight, unlike at this event in Murrietta, California:

Murrieta Immigration Rally black americans debating July 4th

However, I am not sure if the passivity of the crowd in Austin was a good thing. Perhaps it was the excessive heat, but people seemed almost catatonic. When we were walking across the street and reached the curb where the crowd was, two people standing in front of us were so spaced out that they didn't budge to let us pass, even though there was plenty of room.

I wonder if some people were actually eager to get a glimpse of Obama, but they realize that he's becoming more and more unpopular, so they were not as "in your face" about it as they might have been in 2008. But my overall sense was that these people were simply lookie-loos for the most part, and not enthusiastic supporters. From my vantage point, I would guess that Obama's "mandate" to govern right now is simply more of a facade by the media.

When you carry a sign at an event like this, be prepared to speak to the media. A reporter from KVUE stopped my friend and asked her to speak, and she passed the mike to Adam Cahn, who did an excellent job speaking clearly and calmly to the reporter (you can see him speak in the clip below):

What's missing from the news broadcast is the part where the reporter asked him what he thought Obama should do, and after Adam gave some ideas, the reporter countered with some sort of excuse for Obama (which I could not hear very well as I was standing behind her). It was something along the lines of: "But what can Obama do, with blah blah blah blah." Adam - chomping at the bit to call her out with a loud "BULLSHIT!" - wracked his brain and found another B-word to substitute emphatically:

"BALDERDASH!"

I was so delighted with this word that I am going to keep it in my arsenal.

Now, the interesting thing about this is that the lookie-loos definitely outnumbered the protesters. At the point where the media intercepted us, three of us were walking through the crowd and only one of us had a sign. But the local media was interested in adding some spice to the newscast.

The lesson here is that, if you show up, and you demonstrate, even with a very small number you can get some attention and possibly a microphone.

Unfortunately, we were in the wrong spot when Obama finally showed up. He did not come down the main street, but a side street, and all I saw of his motorcade was a parade of motorcycles with lights parading around the corner. You could tell when Obama appeared, however, because all of a sudden a group of loud male voices near the intersection started yelling and booing. (I heard no cheers.)

I was only able to get a shot of the press core following Obama inside:



And that was it. Unlike Pope Francis, Obama does not eschew his own "Popemobile" to go shake hands with the masses without protection.

Now, I'd like to mention that most of the people I spoke with from the protest were very aware that the immigration crisis had the potential to take the country down. Most were women, and they were actually quite compassionate and concerned about the welfare of the children being used as "pawns" in this process.



When I mentioned my theory that this border crisis was a prelude to setting up a North American Union, designed to destroy American sovereignty, most people had not heard of this but were quite intrigued.

After I wrote my last article on the immigration crisis, citing its potential to majorly backfire on Democrats, particularly with social issues, it occurred to me that the Democrats at the top probably did not actually care if these new voters were Democrats in the long-run. Look at how a backlash is growing among the black community:

The black vote was used to put Obama in office, but what has he done for the black community? Nothing. Why? Because he doesn't care, and now that he's in his second term, he doesn't need them anymore.

But even if more blacks start voting GOP because they know that amnesty is going to destroy their jobs, do the Democrats in power really care? Where we're headed, national political parties like the Democrats and Republicans might be totally thrown out the window for new "international" versions, or simply neutered into window dressing as the real power will be in the seat of the new Union, where politicians are not elected but appointed like in Brussels.

You know what? I'd be totally for an "American Union" if it meant that we were exporting our Constitution, with its protections for freedom of speech, freedom of religion, and free markets in place. Unfortunately, we're not exporting freedom but importing tyranny.

For two different perspectives on this, I highly recommend listening to the archives of the Clyde Lewis radio show (available free as a podcast) from July 7, 2014. He ingeniously relates the border clashes we are experiencing here in America with the ones in Ukraine and Israel. He theorizes that the new manufactured "war" is the border skirmish.

I also stumbled across this interview with a former military officer, Retired U.S. Army Command Sergeant Major Dan Page. Disclaimer: The host of this radio show is an end-times Christian, so please try to set aside any biases about that. Once you get into the meat of the interview, it's mostly about government's plans for not just a "North American Union," but a union stretching all the way down to Panama:

TRUNEWS 7/10/14: SGT MAJOR DAN PAGE "THE COMING GLOBAL REGIME"

(Start the media at about 12 minutes in to skip the intro and get to the interview.)

Some of what this guy says is truly "tin foil hat" (as in, he briefly mentions technology that can project images and even thoughts into our heads), but given his conservative nature, I just don't see that this guy is some psychotic making things up. But as with everything, be skeptical and take it with a grain of salt.

If, what some alternative media pundits are saying is true, the border crisis helps the elites whether the border is secured or not: If the invasion continues unabated, we may experience a "Cloward and Piven" style collapse of our infrastructure. If the NeoCons are put back in place as the puppets du jour, and the police state is ramped up to stop the illegal immigration, the elites still benefit.

Some say this cannot be stopped. Given the lack of demonstrated enthusiasm for Obama in hippie Austin, however, I feel that we still have a chance to turn things around. But it's a very slim chance. According to Sgt. Major Page, as long as American men are more interested in sports than politics, there's not much hope. Take a look at all the ladies in this picture:

Where are all the men? Men, stand up now, or risk being forever silenced.

Disclaimer: Opinions presented here are my own and not necessarily that of the management or any other writers here. 

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About the Author

  112 Comments

Grublux
Jul 11, 2014 - 4:00pm

Furst

Gotta do it!

chrtoo
Jul 11, 2014 - 4:11pm

Thanks Stephanie!

A good read and important ideas, all around.

It's wake-up time!

2nd.

CHR.

OceanX
Jul 11, 2014 - 4:25pm

Nice Article.

Austin used to be a very political city -I guess that's before it turned into Dallas.

Great article, glad I was not there, lol...

Mudsharkbytes
Jul 11, 2014 - 4:37pm

Would've been 4th.…

…if I claimed it when I got here, but decided to read the article first.

Looks like I'm still 4th, for whatever that's worth anymore. 

Mudsharkbytes
Jul 11, 2014 - 4:38pm

Delete

this stupid double post. 

AlienEyes
Jul 11, 2014 - 4:41pm

Great Post !!!

I want one of those red tee shirts like the old guy has on. smiley smiley smiley

NW VIEW
Jul 11, 2014 - 5:13pm

Side Note:

I remember when I obtained my first real estate license in 1974. For several years we had many California buyers invading the Thurston County, Wa. area and most around Olympia, Tumwater and throughout the county. Those buyers had fiat and were ready to buy. Well in time, that slowed down and after the housing plunge, it dried up. We are now in a new era. I see those people that were with Stephanie, loading up their vans and moving into our area again. CALIFORNIA DREAMING IS OVER!

WE were able to control the influx of migration by letting everyone know that it rained in western Washington all year long. Now with the water shortages, that is what the new people are looking for. Prices are right at the point of a large boom again. Our family owns a local real estate company and we are swamped. It may be that we can deflect some to Montana. 

Johnny Cash - Goin' By The Book
lakedweller2
Jul 11, 2014 - 5:13pm

Austin People Minds Destroyed

I have lived in Austin in the past and this passive crowd must be from California or Waco. My guess they do not consider Obama an authority figure that could possibly help with the situation. After all they have grown up with Bush and Rick Perry and have no clue what a real leader looks like. Of course, at this point, neither do the rest of us.

SILVER STACKER
Jul 11, 2014 - 5:24pm

I was wondering

how they were getting through Mexico.

https://market-ticker.org/akcs-www?post=229183

illegal immigrants

It would be a long walk otherwise. The one guy is using his "Obama phone" to let Obama know, they are on the way.

DayStar
Jul 11, 2014 - 5:34pm

Stephanie, thanks for the

Stephanie, thanks for the boots on the ground report from Ground Zero.

You mentioned Rick Wiles interview with Sgt Major Dan Page and how Wiles is an end-times Christian, but you recommended the interview with Sgt Page. It turns out in Page's interview he said the federal authorities define terrorists to be white Christian males, 22-65, 2nd-amendment rights defenders, and believers in the Second Coming. The thing you were warning us of which we are not to let our bias get in the way is what the authorities define as "terrorist". smiley Of course, the definition fits both Page and Wiles and many of us here. They have redefined "good" as "evil" and "evil" as good, just as God warned they would. 

Sgt Page was in psychological warfare NCO while he was in the Army, and he said they had devices that could affect people's thinking. Dave Hodges mentioned there are electronic devices that can affect mood. Do you think it's possible they had "mood machines" working that would account for part of the lethargy at the event?

DayStar

Gold Dog
Jul 11, 2014 - 6:13pm

Thanks S!

Were the men working instead of shooting pool and drinking beer in the middle of the day like a Stalinist would?

I have spent some period of time now apologizing to Millennials about right minded Boomer's lethargy and inaction that has allowed our dear, dear Country to come to it's current state of affairs. My fault for not finding the discipline to do anything more than write some checks and convert some friends around to the small government mind set.

The last and only time I protested anything in public over the last almost 40 years was a trip to Springfield, IL to stand around with about 100 other business owners to discourage a Gross Receipts Tax in Illinois about six or seven years ago. (We all had our picture taken on the Capital steps, looked kind of like a 30th reunion at St. Paul's Academy.)

Of interest during our day of unrest was that there was a small union matter that was coming to a vote and there were dozens of busses disgorging SEIU people all with printed signs and tee shirts. When I engaged a couple of them to inquire about what they were fighting for they had no idea. They were also told by some bossy lady not to talk to us. (My regimental tie must have offended her!) They were on the 10:00 news, we were not.

I think it may be time for me and my fellow "Idlers Club" members to start donning our Brooks Brothers suits of armor and making some signs to make up for lost time!

DICK NIXON BEFORE HE DICKS YOU

Your friend,

Dog

lakedweller2
Jul 11, 2014 - 6:14pm

Balderdash

Great article Stephanie!

Magpie
Jul 11, 2014 - 6:34pm

'nuf said

US Constitution Article IV


Section. 4.


The United States shall guarantee to every State in this Union a Republican Form of Government, and shall protect each of them against Invasion; and on Application of the Legislature, or of the Executive (when the Legislature cannot be convened), against domestic Violence.

FreddyKrugerrand
Jul 11, 2014 - 6:39pm

@ Stephanie - Austin

Thanks for the photos. I've never been to Austin but last week my brother (who works in IT and who lived here in the San Francisco Bay Area for about 25 years) moved to Austin. He's accepted a job paying way less than he was making here (help desk support) but he claims that his costs will be less, especially for rent. (Right now renters in SF are in a house of pain.) Also, he's hoping for less overall aggravation. My guess is that if he can adjust to the heat, and the winters, he'll do all right.

Hammer
Jul 11, 2014 - 8:22pm

Here's another for you

Here's another for you all.........."poppycock" Add that to "balderdash."

opticsguy
Jul 11, 2014 - 8:30pm

My wife was stuck on the Dallas North Tollway for 90 minutes

as the emperor's procession traveled around Dallas. Hundreds of thousands of dollars of Dallas police overtime that I will have to pay for, so that a politician that can't run for office RAISES MONEY.

I don't see how a child from South Chicago can't be seen as an economic and political refugee fleeing violence and if that same child showed up in Brownsville without ID it would be home free.

Backfire is certainly possible.

DayStar
Jul 11, 2014 - 8:35pm

GoldDog, I read an article

GoldDog, I read an article recently that said there is so much estrogen in the water supply from excreted birth control medication that it has chemically castrated the American male. Men are suffering from low testosterone and hence low aggression and low assertiveness. Also, Americans are afraid if they rock the boat, their government entitlements upon which they depend for a living will be gone, and they will be up the polluted tributary without sufficient means of locomotion. smiley

Hammer, you could also add "rubbish", said with a sufficient degree of disdain, of course. smiley

DayStar

El Gordo
Jul 11, 2014 - 9:05pm

NSA Inquiry

I was only able to get a shot of the press core following Obama inside:

Too bad about that.

AC_Doctor
Jul 11, 2014 - 10:09pm

This pre-planned immigration is to make cover for new FEMA camps

This pre-planned immigration event also serves to give cover to the construction of hundreds of new FEMA camps to

serve the Patriots of this country once the illegals are released to cause havoc in the populace... AC

Alert: FEMA camps to pop-up up like wildflowers nationwide under new DoD authorization

 July 10, 2014 2:45 pm EDT

By Shepard Ambellas

Influx of illegal aliens used as excuse to furnish and activate hundreds of new FEMA camps nationwide under REX 84 protocols — martial law nearing

BIG FLATS, NY (INTELLIHUB) — The U.S. Department of Defense (DoD) in conjunction with the Department of Homeland Security (DHS) and the Federal Emergency Management Agency (FEMA) are now scouting for unused facilities, such as massive airport hangars and other structures, to be converted into FEMA camps as soon as possible to accommodate the massive influx of illegal aliens being shipped across the border via U.S. funded operations.

According to WENY News:

Red flags were raised When FEMA set its sights on the vacant Sikorsky airport hangar in big flats to house thousands of undocumented immigrants from Central America.

Ann Crook, manager of the Elmira Corning RegionalAirport says turning the building into a processing center would be a breach in safety.
With the facilities complete access to the tarmac and runways, it would be against the Federal Aviation Administration rules.

“Everyone that works at the airport has to have this background criminal check and their fingerprints taken,” said Crook. “So now all of a sudden, opening that up to all of these undocumented immigrants changes all of that.”

https://www.intellihub.com/alert-fema-camps-pop-like-wildflowers-nationwide-new-dod-authorization/

Spartacus Rex
Jul 11, 2014 - 11:22pm

Jul 11, 2014 - 11:42pm

As Ron Paul points out we

As Ron Paul points out we already live under an authoritarian regime. President makes decisions without the input of congress invoking executive privilege whenever he farts.

Anyway, all this talk about immigration got me thinking. It’s worse than it appears. So many great examples of how the US caused this mess through it’s global manifest destiny. I guess our favorite example is Mexico although it shouldn’t be the only in our sights. 

This is a map of Mexico. (Yes, a very sexy politically charged ad for absolute vodka too) before the United States took 1/2 of their land with the treaty of Guadalup of Hidalgo. (I love me some history)

Some of you live in what used to be Mexico if you Live in California, New Mexico, Arizona, Nevada, Utah and parts of Colorado and Wyoming. And we didn’t pay an awful lot of it. We gave all the Mexicans two choices. Return to your home (well, your new annexed home) or we’ll give you citizenship.

This is the map of Mexico today. 

At least 1/4 of Mexico especially below the Rio Grande is not under control by the Mexican government and military. It is owned and operated by the Mexican Drug Cartel. Who owns, operates and funds the Drug Cartel? That’s right. CIA. With HSBC being their bankers. The drug wars are funded by us. That shouldn’t be news to anybody who reads the alternative media. 

Fuhget the Mexican’s. What about those Puerto Rican’s.

I like to live in America. I like to live in America. Maria I met a girl named Maria. We invaded the small little island of “Tropical Diseases” in 1898. Corporatized it and Militarized it. Owned suckers.

Haiti. Over 500,000 Haitians a year enter this country. You remember Vietnam, Korea but do you remember that the United States invaded and occupied Haiti for over 20 years and took it’s rich resources and took over it’s rich agribusiness.

Woodrow Wilson ordered the United States Marines to invade and occupy Haiti from 1915 to 1934. pg

We also didn’t like Germany running that small Island we put a choke hole on the Germans and Haitians and took that mug over. Of course, our involvement in that country goes back to the 1860’s when we engaged 17 times in Military disputes in open water. 

And then Bill Clinton invaded Haiti with 20,000 troops with Operation Return Democracy. Whoo Whoo Whoo! 

 Remember Hiliary Clinton and Bill Clinton Honeymooned in Haiti.

I could go on Chile, Nicaraguan, Argentina was a beauty supporting a regime that killed over 30,000 people. Let’s see Cuba, Panama and quite a few other worth mentioning but I won’t.

Let’s turn the tables on Mexico and go into a parallel reality. Let’s say they annexed half of our union, and then manned and armed a narcotic industry and military. Would you run over the fence and head for Cancun to piss on their beach? 

This is a refuge crisis created by Uncle Sam.

The solution to the immigration problem is the same solution as the money problem. Get rid of government and get back to a Constitution and stay out of other people's property. 

How's that for a different spin?

Spartacus Rex
Jul 11, 2014 - 11:50pm

@ Green Lantern, Seriously?

"Get rid of government"? Why is that? Oh yeah I forgot:

"Because Like, Anarchy Totally ROCKS Dude"!

Cheers, S. Rex

Pattaya7
Jul 11, 2014 - 11:58pm

46 illegal aliens were temporarily sheltered at..wait for it....

FONTANA -- 46 illegal aliens were temporarily sheltered at St. Joseph's Catholic Church on Thursday, where they waited to be driven to bus stations after being released at around 6:45 p.m. 

Although the immigrants' final travel destinations could not be confirmed, San Bernardino Diocese spokesman John Andrews told Breitbart News that the church provided "travel cash" to those headed on long journeys east toward New York or New Jersey. 

Andrews also said the church was helping the illegal immigrants--32 children and 14 women--buy bus tickets, and helping them navigate the complex bus transportation system. 

"The Catholic Church welcomed us," an immigrant named Bianca told CBS Los Angeles. "We are here, we are okay."

Meanwhile, protesters in Murrieta, who succeeded in turning around three rounds of buses of illegal aliens bound for the local Border Patrol station, waited all day for a new round of buses to come, but they never showed up. Border Patrol had announced on Wednesday afternoon that a flight carrying another 140 illegal aliens to San Diego scheduled for Thursday had been cancelled, as well as all future flights, although those same flights had resumed after being cancelled in the past.

One of the organizers of the Murrieta protests, Diana Serafin, told Breitbart News that protesters would remain outside the Border Patrol station for as long as necessary.

"We can't let our guard down now," she said.

Safety Dan
Jul 12, 2014 - 12:13am

The article The Fed’s Stealth

The article The Fed’s Stealth Tightening was originally published at caseyresearch.comRead to understand what the Fed is doing now.. <sarc on> Of course to help John Q Public <sarc off>. Question for you - why would the Feds be building a 'rainy day' fund? Bud's article was printed 2 days prior to last estimate of 1q 2014 of GDP -2.9%. Read on-

The Fed’s Stealth Tightening

Bud Conrad, Chief Economist

As expected, the Fed tapered its purchases of mortgage-backed securities on Wednesday to $15 billion per month and its purchases of longer-term Treasury securities to $20 billion per month.

That means total monthly purchases, which were $85 billion last year, are now down to $35 billion. That’s a significant cut.

The Fed also cut the range of its full-year 2014 real GDP growth forecast, from 2.8% – 3.0% down to 2.1% – 2.3%. That was no surprise, considering that GDP in Q1 was negative 1%, and it may have been a bit of a warning.

Those who are familiar with my work know my no-confidence stance on Fed prognostication. But just to make my opinion clear: I think the Fed is in the business of obscuring the truth. Official inflation numbers vastly understate actual price rises:

  • Housing in California is back to its pre-crisis peak;
  • Stocks are at record levels;
  • Food prices jumped 0.7% in May alone; and
  • Anyone who drives knows that a tank of gas is far more expensive than it was a year ago.

The Fed’s claim that inflation is contained and that there is no need to raise interest rates is just a show put on for people who believe the government. If we applied a more accurate inflation rate to GDP calculations, real GDP would not be growing at all.

My point is that the Fed and the media tell us things are better than they actually are. Meanwhile, the Fed is taking secret actions that reveal where Yellen and friends really think the economy might be headed.

The Fed’s New Tool: Reverse Repo

Traders have used Repurchase Agreements ("repos") for decades. A repo is essentially a collateralized loan. A borrower sells government securities to a lender and buys them back later at an agreed-upon date and slightly higher price. The lender takes on very little risk to earn a small amount of compensation while it holds the government securities as collateral.

Repos can last for any amount of time, but they are often ultra-short-term. Overnight repos are the most common.

The Fed has announced that it’s using “reverse repos” as a new tool to manage monetary policy. Don’t let “reverse” confuse you: Reverse repos are just a way the Fed soaks up cash from financial institutions. The Fed is the “borrower,” swapping its Treasuries for banks’ cash. You might call it the opposite of quantitative easing: reverse repos drain money from the financial system.

The Fed can also use repos to add money to the system, as it did in the early stages of the 2008 Credit Crisis:

By netting repos with reverse repos, we can see their combined effect on monetary policy over time:

As you can see, the Fed is quietly using reverse repos to drain the money supply. Remember, this is on top of the taper. Net, the Fed is being less accommodative than most are aware of.

How Repos Fit into the Fed’s Balance Sheet

The following chart illustrates how the Fed’s liabilities (sources of funding) changed dramatically during the financial crisis.

The Fed funded and continues to fund its quantitative easing programs with bank deposits. Here’s the rundown on how that works:

  1. The Fed creates cash from thin air.
  1. The Fed buys Treasuries and mortgage-backed securities (MBS) from banks with that freshly minted cash.

The Fed pays banks 0.25% interest as an incentive to keep the new cash on deposit at the Fed.

That huge $2.8 trillion in deposits is a risk source, because the financial institutions could withdraw those funds at any time, if they think they can generate better returns than the 0.25% interest that the Fed pays.

Reverse repos are also a source of funding for the Fed: they provide cash for the Fed to continue purchasing Treasuries and mortgage-backed securities.

Though reverse repos are only a small portion of the Fed’s balance sheet, they are important. As the growth of the yellow “deposits” has trailed off, reverse repos have picked up much of the slack.

In effect, the Fed has sopped up $200 billion in the last nine months in “stealth tightening.” I use the word "stealth," because most investors, and even most Fed watchers, aren’t aware of the effects of reverse repos.

You’re probably wondering, "What’s the Fed’s ultimate plan here?"

I think that the Fed is using reverse repos to build up a hidden source of funding so that it can unwind its tightening quietly, if need be. The Fed now has $200 billion in “ammunition” that it can deploy without much (or any) fanfare, because nobody is following this closely. “Reverse Repos” isn’t the headline grabber that “Quantitative Easing” is.

As a side note, notice that the Fed’s capital is so small that you can barely see it. If the Fed were a bank subject to market forces, the slightest negative surprise would render it insolvent. But of course, it has a monopoly over the printing press, so it needn’t worry about such things.

One last reason the Fed might be secretly building a rainy-day fund: As my analysis in the newest issue of The Casey Report demonstrates, foreigners have recently stopped lending money to the US. That’s a huge problem for a country that had a $111.2 billion trade deficit in the first quarter alone, and will spend half a trillion more dollars than it takes in during 2014.

As I said earlier, the Fed has been very quiet about this repo program, so we can only surmise what its true motivations are. But as the US government’s lender of last resort, the Fed may be raising this source of cash so it can lend more money to the US government as foreign lending continues to dry up.

In conclusion, the credit crisis of 2008 changed our financial system in many ways. Whether this latest repo experiment is just another Band-Aid on the money balloon or something more, it’s well worth keeping an eye on.

You can find my data-driven analysis in every single edition of The Casey Report. Start your 90-day risk-free trial now to read the current issue plus two more, access all of the current stock picks, and peruse the archives before deciding if The Casey Report is for you. If it’s not, no problem—just call or email for a full and prompt refund. Click here to start your no-risk trial subscription to The Casey Report straightaway.]

June 23, 2014 10:16am

​Connect the dots... lower GDP and recession staring us in the face.. Next step is depression; US Gov Debt increases with depression, opposite of inflation. John Q Public's money increases in purchasing power without taxation in depression. I'm sure the Fed's have overlooked this benefit John Q Public, or they would stop stealth tightening. wink

tyberious
Jul 12, 2014 - 12:30am

Thanks Stephanie!

My question is who goes to see this tool!! 

If the dems dont get some balls to impeach this guy, they are all headed to FEMA Camp 6!

A Libertarian Tea Party. Free Pot and Tea, I hope someone brings edibles!

Spartacus Rex
Jul 12, 2014 - 2:18am
erewenguy
Jul 12, 2014 - 5:19am

Brics to Open Alternatives to

Brics to Open Alternatives to World Bank, IMF

10.07.14

........

The project will see each of the Brics contribute €1.4 billion to the bank’s funds over the next seven years, with the bank’s maximum capital set at €73 billion. The bank will fund mainly infrastructure projects.

Other countries that want to join will be able to do so once the new bank opens for lending, in 2016, the minister added.

It will be a small rival to the €163 billion-strong World Bank, but it marks the departure of a US and Europe-dominated international financial system.

Siluanov also confirmed plans for a separate Brics project: an alternative to the International Monetary Fund (IMF).

This would be set up as a joint contingency pool between the five Brics countries to the tune of €73 billion.

"We have reached an agreement that, in the current conditions of capital volatility, it is important for our countries to have this buffer a so-called “mini-IMF” - a financial organisation which could quickly react to capital outflow, providing liquidity in hard currency, in particular in US dollars,” Siluanov said.

The pool will become available in 2015 and will see each of the Brics countries putting in as much of a proportion of the total capital as it would be allowed to withdraw, except for China (the largest donor) and South Africa (the smallest), which will be allowed to withdraw half and double their contributions, respectively.

Brics nations have grown increasingly frustrated at the priorities of the IMF, particularly during the euro-crisis, where a disproportionate amount of the fund's money went to bailouts in southern Europe.

https://euobserver.com/economic/124920

garimpiero
Jul 12, 2014 - 8:47am

Like Sheep to the Slaughter

"However, I am not sure if the passivity of the crowd in Austin was a good thing. Perhaps it was the excessive heat, but people seemed almost catatonic. " Perhaps they were simply chemtrail-addled. It would have been nice, when the reporter from KVUE said "But what can Obama do, blah, blah, blah" if someone asked, "Well, he keeps an eye and an ear open to everyone's emails and phone calls- why can't he keep track of the handful of trains entering the country?" (widely published photos show people literally hanging from the sides and on the roofs; a recent derailment left over 1000 of them stranded in Mexico)

Strongsidejedi garimpiero
Jul 12, 2014 - 10:31am

@garimpiero - sheep

Photo to go with the message at 5:47 AM from garimpiero

​Not a big HuffPo fan, but I found a posting from April on Huff Po about the train and migrants.

https://www.huffingtonpost.com/2014/04/11/honduran-immigrants-mexico_n_5...

Note also the photo essay in the posting on violent crime in Latin America.

DayStar
Jul 12, 2014 - 10:50am

Harvey's Up! (TFMR)

Harvey's Up! https://www.tfmetalsreport.com/comment/620450#comment-620450

Mark O'Byrne (GoldCore): Silver outperformed yesterday again, surging to as high as $21.575 and ended with a gain of 1.28%. Silver is heading for a sixth consecutive week of gains, something it has not done since its price surge in 2011. Gold retained sharp overnight gains to trade near a 16-week high today and was poised to post its sixth weekly rise in a row, as troubles at one of Europe’s largest banks hammered equities and bonds and led to safe haven demand for bullion. Gold and silver saw gains yesterday on concerns about instability in the Middle East and the risk of contagion coming from Espirito Santo, the large Portuguese bank. A possible default has sent government bonds of Europe’s most indebted nations and bank and other stocks tumbling, showing how fragile confidence in the Eurozone banking system and sovereign debt markets is. Meanwhile, India surprised bullion markets by keeping the import duty on gold and silver unchanged at 10% in its budget. 

Harvey: Gold trading for the past 24 hours: I would call today a victory as the bankers tried to suppress our two precious metals and they failed. The bankers signaled an attack yesterday when gold and silver equities sank despite the higher gold/silver metal price..usually a good sign that an attack is imminent. Gold was hit in the access market at 6 pm est last night and dropped to $1333 and that was the low point. At midnight it was at $1338.00 having crawled all the way back to the unchanged level. Then after the first London gold fix (at 3 AM) gold was hammered again to a low of $1334 where it held its ground, and the bankers could not advance their case lower from there. From that point until closing, gold advanced in baby steps to basically end the day unchanged. Silver on the other hand held its ground all day. The first London fix was around $21.50 and from there the bankers pressed but were foiled. Silver's low point was at around 9 AM EST at $21.37 and from that point it advanced and closed at the Comex closing time at $21.41 and in the access market at $21.44. In another great sign our gold/silver equity shares reversed course from last night and advanced smartly. The silver OI at the Comex advanced to 164,676 contracts. If silver can clear $22.40, I can see possibility of a commercial failure. 

Harvey on news moving paper: Fighting intensifies in Israel, and they fight the Hamas in the Gaza strip by sea and by land. Today Israel has advanced their call up to 30,000 reservists and no doubt a ground attack will commence shortly. The Israelis are quite concerned that Hamas had acquired many long range missiles. Japan has to deal with another 6.8 earthquake close to Fukushima. Already there have been tsunami warnings.

GoldCore on Silver: Silver has been one of the top performing markets in recent months. Silver has risen to $21.41/oz and is up more than 10.3% year to date. It is important to remember that silver rose to a recent nominal closing high $48.41/oz on April 28, 2011. This means that silver is nearly 60% below its record nominal high of just over three years ago. After more than 3 years of a brutal correction and subsequent consolidation, we believe silver is set to rise above that record nominal high in the coming months. We continue to be bullish on gold, platinum, palladium and particularly silver. We believe that silver will likely surpass its non inflation adjusted high near $50 per ounce and its real high or inflation adjusted high of some $140 per ounce in the coming years. At the start of the year, silver was trading at $19.41/oz and most analysts were calling for further price falls. Sentiment today remains very poor. Very few market participants and investors know about silver’s outperformance as silver gets little or no media attention. There is a huge focus given to the record highs in U.S. and some other stock markets. Therefore, silver remains the preserve of relatively few contrarian investors and store of wealth buyers.

Zero Hedge: A few days ago we reported that the World Gold Council was actively preparing to announce the replacement to the existing gold/silver fix, a system that had allowed the rigging of precious metals for 117 years. Confirming that said rigging would only continue was our report that the person who chaired said WGC "round table" meeting was none other than the former Bank of England Chief Manager of Reserves (which included gold of course), and who was at his post when Gordon Brown dumped half of England's gold at ridiculous prices merely to bail out one or more banks that were short physical metal (curious how that is such a recurring theme) and were scrambling to obtain the delivery. That's where Brown and the BOE came in.
Today we learned just what said "fixing" replacement will look like after reports that the CME Group Inc. and Thomson Reuters, largely as had been expected, will run the replacement for the 117-year-old silver-fixing benchmark that’s ending in August, the London Bullion Market Association said. Confirming that the "selection process" was nothing but yet another rigged farce, designed solely to preserve continuing of manipulation, was this disclosure (ironically, coming out of Reuters, the same company picked to continue the fixing).

Alasdair Macleod: In the past a bullion bank's risk to a rising gold price either went unhedged, or was managed through derivatives, using forwards futures and options. Therefore, so long as systemic risk is not regarded as a material factor, the bullion banking community can absorb significant gold demand from investors by expanding unallocated accounts without any physical buying required. However, the investing public's greater awareness of risk to bank deposits from bail-ins could change this in future. And it was only this week that wealthy German citizens were reminded of deposit risk when its government approved the introduction of bail-in procedures for bank insolvencies. Increasing awareness of systemic risk by the rich and ultra-rich is likely to lead to a preference for allocated accounts or for vaulted gold held outside the banking system, over unallocated accounts.

Chris Powell: The Perth Mint's Bron Suchecki sees the Indian government's new gold swap -- the release of central bank gold in India simultaneous to the bank's acquisition of gold (or gold paper) in London -- as a mechanism for taking pressure off the domestic gold market without worsening the government's foreign exchange position. But, Suchecki adds, "as we are dealing with central banks, where transparency even on simple matters is rare to come by, we just don't know what the real motivation is and thus have to resort to speculation."

Tyler Durden: Silver closes at a 4-month high as the grey metal closes green for the sixth week-in-a-row. This is the longest winning streak since the highs reached in April 2011 as safe-haven buying and CCFD unwinds are squeezing the shorts and dragging Silver +10% year-to-date (just behind gold).

Zero Hedge: Following yesterday's peripheral European poundage over fears of what a Banco Espirito Santo failure could mean to the nation, and to the Eurozone, but most importantly to depositor confidence everywhere, today has been one epic damage control session, with one sellside penguin after another, most notably Goldman (which until hours ago had the cratering bank at a Buy rating, only to switch to Neutral this morning), rushing to release half-baked notes promising that "all is well, please to keep calm" and that nobody should certainly withdraw their deposits from insolvent European banks. This is happening after Banco Espirito Santo itself sought to reassure investors by revealing its exposure to related companies after a missed payment on short-term debt by a member of the Portuguese group roiled global markets. 

Zero Hedge: At 4:22 AM local time, a major 6.8 magnitude quake struck eastern Japan, off the Fukushima coast. FLASH:M6.8 QUAKE JOLTS OFF FUKUSHIMA, JAPAN, TSUNAMI ALERT. EARTHQUAKE EARLY WARNING ISSUED FOR JAPAN, OFF FUKUSHIMA:JMA. TSUNAMI WARNING ISSUED AFTER JAPAN QUAKE: AP. It was a magnitude 6.8, 151 km ESE of Namie, Japan.

All this and more on...

The Harvey Report! indecision

https://www.tfmetalsreport.com/comment/620450#comment-620450

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