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18 сентября 2013, 00:13

Nancy Gibbs to replace Stengel at 'Time'

Veteran Time magazine writer Nancy Gibbs has been appointed top editor of the magazine, effective immediately, Time Inc. announced on Tuesday. Gibbs will replace Richard Stengel, who has been selected to serve as Under Secretary of State for Public Diplomacy and Public Affairs. The White House announced Stengel's nomination on Tuesday afternoon. Gibbs has been with Time since 1985 and currently serves as deputy managing editor. One of the most published writers in the magazine's history, she has long been seen as Stengel's successor and has effectively served in the managing editor role since he began talking to the State Dept. in mid-July. (Also on POLITICO: Harry Reid, Mitch McConnell to John Boehner: Send us something) In an interview, Gibbs said she looked forward to continuing Time's legacy of great journalism while exploring new ways to deliver content via digital and mobile, including through the relaunch of the magazine's website later this year. Describing Time as a "mobile-first" publication that still has tremendous influence in print, Gibbs praised the magazine's ability "to set the agenda" while continuing the conversation in real-time online." "Time was founded because people were busy, they wanted a source of news that they could trust and that respected their time. That's even more true now," she told POLITICO. "Our goal is to do for the minute, hour, and day what we've always done for the week." (Also on POLITICO: Obama calls for personnel review) Stengel, who became managing editor in 2006, said Gibbs had "all the knowledge, experience, poise and equanimity" required to lead the magazine into the future. "She's basically been editing the magazine since the middle of July and she's done a great job," he told POLITICO. "She more than anyone has a sense of what it takes to preserve what we do that's great and how to innovate and move ahead into the future. I feel great about it." Stengel declined to comment on his State Department appointment. The position will put him in charge of U.S. public diplomacy outreach, including "cultural programming, academic grants, educational exchanges, international visitor programs, and U.S. Government efforts to confront ideological support for terrorism," according to the State Department's website. (PHOTOS: Shooting at Navy Yard) In a memo to staff, Time Inc. EIC Martha Nelson noted that Stengel joined "a long line of TIME journalists moving into public service. Presidents Eisenhower, Nixon, Carter, Reagan, Clinton, George W. Bush and Obama have turned to our leading editors for counsel and to hold positions in diplomacy and communications." Stengel will remain based in New York and will commute to Washington each week. Until his Senate confirmation hearing, he will continue to assist Nelson on editorial matters related to the company's upcoming spinoff. UPDATE (4:20 p.m.): The full memo from Time Inc.'s Martha Nelson, after the jump. Follow @politico !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src="//platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); September 17, 2013 To: Time Inc. Colleagues From: Martha Nelson Re: Staff Announcement I am pleased to announce the appointment of Nancy Gibbs as the new Managing Editor of TIME. She succeeds Rick Stengel, who President Obama announced today is his nominee to be Under Secretary of Public Diplomacy and Public Affairs at the Department of State. I cannot think of a more perfect person than Nancy to lead TIME. She has done an outstanding job running TIME since July, when I asked Rick to assist me with corporate matters related to our upcoming spin off. Her cover stories in the past weeks on Syria, collegiate sports and child-free couples have been huge successes with readers and in the media, and, in the same period, she launched TIME's Martin Luther King Jr. anniversary special issue in tandem with a new documentary film unit, Red Border Films, that is expanding the way TIME tells stories through video online. Nancy has a long history at TIME, serving most recently as deputy managing editor. She is one of the most published writers in the history of the magazine, having been an essayist and lead writer on virtually every major news event of the past two decades, including four presidential campaigns and the September 11 attacks. She is the co-author, with TIME's Michael Duffy, of two best-selling presidential histories: The President's Club: Inside the World's Most Exclusive Fraternity (2012) and The Preacher and the Presidents: Billy Graham in the White House (2007). She has written more cover stories for TIME than any other writer in its history and won the National Magazine Award for her cover story of TIME's black-bordered September 11, 2001, special issue. As deputy managing editor, Nancy oversaw TIME's transition to a fully digital newsroom. This year, she led a working group to develop the framework for TIME.com's mobile-based relaunch this fall, and she has been responsible for hiring nearly two dozen new reporters and editors in recent months as part of that effort, including a number of well-known digital journalists. Nancy was born and raised in New York City. She graduated summa cum laude from Yale, with honors in history, and has a degree in politics and philosophy from Oxford, where she was a Marshall scholar. She joined TIME as a fact checker in 1985 and worked as a writer and editor before holding senior management positions. She has twice served as the Ferris Professor at Princeton, where she taught a seminar on politics and the press. Gibbs lives in Westchester County, New York, with her husband, and they have two daughters. I would be remiss not to take note of another milestone: Nancy becomes the first woman to hold the Managing Editor title at TIME. With her at the helm, I expect TIME to continue to flourish and grow on every platform. Nancy inherits a thriving TIME thanks in no small part to Rick's superb leadership and vision over the past seven years--the longest service of any TIME editor since the 1980s. Rick revived and rejuvenated TIME and made it part of the national conversation even as the magazine's longtime competitors were falling away. He redesigned and refocused the magazine, moving its delivery date from Monday to Friday; he took TIME.com to historic traffic levels; he launched TIME's iPad edition, one of the first magazines to appear on Apple's tablet; and he has made TIME a leader in social media among news brands. In 2008, he started TIME's national-service issue with a summit on the topic that brought together then Senators Obama and McCain for their only joint appearance outside an official presidential debate. Under Rick's leadership, TIME has won numerous awards. In 2012, TIME was named Magazine of the Year at the National Magazine Awards, the industry's highest honor and a first in TIME's history. In 2013, TIME received the National Magazine Award for Design, also a first. TIME also won two Emmy awards, another first for the brand: in 2010, for its Iconic Photo Series and, in 2012, for Beyond 9/11: Portraits of Resilience, a multimedia website, print issue, documentary film and museum exhibition. In addition, TIME has won major photography awards, including World Press Photo of the Year, the industry's top honor, for the magazine's arresting 2010 cover photo of Aisha, an Afghan woman mutilated by the Taliban. This year, in another first for TIME, Rick published a single issue devoted to one story, "Bitter Pill," a months-long investigation into health care pricing by Steven Brill that has changed the health care debate and directly inspired policy change in Washington. Working with the Carnegie Corporation of New York, Rick also helped establish the annual TIME Summit on Higher Education. During his tenure, Rick has interviewed and written about world leaders and newsmakers of every imaginable stripe, including President Obama, Mahmoud Ahmadinejad, Benjamin Netanyahu, Hillary Clinton, Mohamed Morsi, Julian Assange and Vladimir Putin. Having collaborated with Nelson Mandela on his autobiography Long Walk to Freedom, Rick wrote a 2008 cover story on Mandela for TIME that led to Rick's most recent book, Mandela's Way: Lessons on Life, Love, and Courage. With his move to the State Department, Rick joins a long line of TIME journalists moving into public service. Presidents Eisenhower, Nixon, Carter, Reagan, Clinton, George W. Bush and Obama have turned to our leading editors for counsel and to hold positions in diplomacy and communications. Until his Senate confirmation hearing, Rick will continue to assist me on editorial matters related to our upcoming spin off. Please join me in congratulating Nancy and Rick and wishing them the best in their new roles. M.N.

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17 сентября 2013, 01:08

Biden to raise more cash for DCCC

Fresh off his appearance at Iowa Sen. Tom Harkin's steak fry, Vice President Biden's set the next event on his political calendar: a high-dollar fundraiser for the Democratic Congressional Campaign Committee. The Oct. 7 event in Baltimore will be co-hosted by all the Democrats in Maryland's congressional delegation, as well as House Minority Leader Nancy Pelosi. Tickets are available at the $32,400 "speaker's cabinet" level, or $10,000 each for guests. This will be the second time since his re-election that DCCC Chair Steve Israel's gotten Biden to headline a fundraiser for the group, following one in March in New York. The event's a luncheon at a private home, but no word on whether Biden will show off his skills working the grill like he did in Indianola over the weekend. DV.load("//www.documentcloud.org/documents/787520-10-7-13-vpotus-invite.js", { width: 605, height: 783, sidebar: false, container: "#DV-viewer-787520-10-7-13-vpotus-invite" }); 10 7 13 VPOTUS INVITE (PDF) 10 7 13 VPOTUS INVITE (Text)

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03 сентября 2013, 20:25

McCain shames Fox's Brian Kilmeade

Sen. John McCain criticized Fox & Friends's Brian Kilmeade on Tuesday after the co-host said he had "a problem with helping out" members of the Syrian opposition who were shouting "Allahu Akbar" as rockets rained down in a government-held district of Homs. During an interview with Sen. McCain, Kilmeade played the clip of the Syrian opposition fighters in order to suggest that McCain's plan to deliver weapons to opposition groups could ultimately backfire, putting rockets in the hands of terrorists. (WATCH: McCain fears '535 commanders in chief') "I have a problem helping out those people screaming that after a hit," Kilmeade said. Sen. McCain fired back, "Would you have a problem with an American person saying 'Thank God! Thank God!'?" "That's what they're saying. Come on!" Sen. McCain said. "Of course they're Muslims, but they're moderates. I guarantee you that they are moderates. I know them and I've been with them. For someone to say 'Allahu Akbar' is about as offensive as someone saying 'Thank God.'" (h/t Think Progress) Follow @politico !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src="//platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs");

07 марта 2013, 12:52

Governments Worldwide are Implementing Orwellian Gold Confiscation Today. You Just Haven’t Realized it Yet.

Bankers Have Flipped Monetary Truth Upside Down Bankers have flipped the paradigm of monetary truth upside down today. People believe in fiat digital money that is, by definition of the term, counterfeit and have zero belief in money that is real, and thus lasted over 5000 years of global history. In fact so few people today have an understanding of monetary history and truth that when I tell them that all money in wide use and circulation today is the equivalent of counterfeit money, even though this is true, they look at me like my beliefs, not their beliefs, are crazy. Hopefully this article will finally open some eyes and answer the question, "What is money and what is not?"   Executive Order 6102 Was Passed to Force Americans to Use Counterfeit Instead of REAL Money In 1933, US President Franklin D. Roosevelt betrayed America and signed Executive Order 6102 into law, making physical possession of more than $100 of gold illegal and punishable by a $10,000 fine and 10 years of prison, to bail out the private Rothschild banking family that controlled and owned the Bank of England, because the Rothshchilds had counterfeited the Pound Sterling to finance World War I. Pre-WWI, the pound was 15% backed by gold reserves. Post-WWI, because the Rothschilds had created pounds of thin air backed by nothing and failed to maintain the gold standard, the pound was only 7% backed by gold reserves. Yet, the Rothschilds and the Bank of England refused to revalue the gold/pound exchange rate. However, back then, unlike today, people understood how money works, called the Rothschilds on their scam and started converting their heavily counterfeited and devalued pounds into gold at the pre-WWI gold/pound exchange rate, knowing that they were receiving more gold per pound than the gold reserves (backing the pound) held by the Rothschilds should dictate.   This is why the thought of a return to a monetary system of gold and silver money absolutely terrifies the criminal banking cartel so much. Note that this is completely different than the criminal banking cartel fearing gold ownership for themselves. They are snapping up as much physical gold as possible right now. They just don't want YOU to own any. A 100% gold backed monetary system (the only kind of gold standard I support) allows the people to punish the bankers and take their wealth when they try to cheat us. A counterfeit fiat digital system, the kind we all use today, however, allows bankers to perpetually steal wealth from all of us. Under our current counterfeit monetary system of fiat digital currencies, of course we can still choose to convert our counterfeit digital money backed by air into the real money of physical gold and silver, but so few people choose to do this. So let's explore why. In order to stop their gold losses, the Bank of England asked the US Federal Reserve to start counterfeiting US dollars to weaken the dollar against the pound. With heavy devaluation of the two major global currencies at hand and the ongoing collapse of the German mark, when the Reichsbank hyperinflated marks to such a degree that the largest denominated note increased from just 1000 marks to an insane 100,000,000,0000 marks in short time (yes, there was a 100 billion mark note back then, probably the inspiration for Paul Krugman's idiotic suggestion of printing ONE TRILLION dollar coins to pay off the REAL US national debt of $200+ trillion), many people justly and rightfully preferred converting their treasonous devaluing paper fiat money into the real money of gold.   So the ongoing counterfeiting of the world’s major currencies eventually led President Franklin D. Roosevelt to betray all Americans and choose to serve his money masters instead of serving the people (all governments only give lip service to serving the people but in reality, always serve the interest of their money masters only). To save his masters, the bankers, Roosevelt passed Executive Order 6102, an EO that literally stole gold from American citizens, gave it to the bankers, and gave Americans devaluing counterfeit money instead. Before you tune out, if you believe my labeling of US dollars as counterfeit money is "unpatriotic", I will prove to you that all fiat money today is counterfeit money beyond a shadow of a doubt, and that in fact, a true patriot would despise the digital US dollar backed by nothing and the bankers that have created them. Today, with massive devaluation of all global currencies, with the Yen falling an astounding 24% against the Euro in just a few months, one would think that everyone in the world would learn from Executive Order 6102 that the way to preserve their wealth against the criminal amoral banking class is to convert not 5%, not 10%, and not even 30%, but as much of their fiat and digital currency as humanly possible into physical gold and physical silver.   However, there was one massive difference between citizens of the early 1900s and citizens today that prevents people from grasping this realization and that required bankers to outright steal private citizen’s stores of gold back then through the mandate of a Presidential Executive Order - the widespread knowledge of monetary truth.   All through the 1800s until 1879 in the United States, a bi-metallic standard existed in which physical gold and silver and paper notes backed by gold and silver were used as money. However, back then, paper notes backed by gold, though they were in circulation and even issued by the US Treasury, were not even considered “legal tender”. In 1879, the bimetallic gold and silver standard in the US was changed to a gold standard that remained in effect until 1933. Thus throughout the 1800s and the early-to-mid 1900s, nearly 100% of Americans understood that only gold and silver were ever to be trusted as money and that paper notes, if not backed by gold or silver, were just that, paper and nothing more. Even the vast majority of the middle-class and poor in the US that did not have enough resources to accumulate physical gold and physical silver still understood that they should accept only gold and silver as real money and that all else should be considered as fake or counterfeit money. It was this widespread understanding and knowledge of monetary truth that caused bankers to panic after they started counterfeiting money in masse during World War I and led them to order President Roosevelt to confiscate people’s gold in 1933, the year the gold standard effectively ended in the US.     People Don't Have the Knowledge to Wage War Against the Bankers & Win Today Because Bankers Have Nearly Purged All Truth About Money From History Books & Education However, today, we have a completely different scenario because of this massive gap in knowledge about money between 1800 and 1900 America and 2013 America. In the 80 years since the bankers ceased convertibility of bank notes into gold in 1933, the bankers have worked furiously to purge all history of monetary truths from school books in the same manner that brutal dictators Chairman Mao and Pol Pot chose to purge the cultural history of their nations from the memories of their citizens. After all, today's people can’t miss monetary freedom if they lack the knowledge of their ancestors and never knew it existed in their recent history, even when monetary freedom (v. the monetary enslavement of today) existed less than one generation ago. This mission of the bankers in America was to purge from the memories of all Americans the history of stable economic growth and widespread prosperity realized under a gold standard, and they, by and large, succeeded. If I tell people today that the global banking system is a Ponzi scheme that runs on counterfeit money, even “educated” people (though they are more properly labelled as the re-educated and miseducated) look at me like I have lost my mind. This is how I know that the bankers have successfully purged almost all knowledge of monetary truth from the memories of today’s citizens. Thus the situation today is nearly the exact opposite of what existed less than a century ago. Back then, nearly 100% of people understand that no money was to be accepted except gold and silver and certainly never to accept paper backed by nothing. Today, you would be hard pressed to find one person out of 100,000 that understands this.   The US Federal Reserve Turns REAL Money In Widespread Circulation Into COUNTERFEIT Money In fact, ever since private bankers created the US Federal Reserve in 1913 and then turned money from REAL money into COUNTERFEIT money in 1933, they have continued to commit the same degradation of fiat currencies that they committed during WWI, but only on an exponentially more rapid timeline. In other words from 1800 to 1929, the price index in America was about the same after 130 years under a gold standard (though there were volatile periods in between)! However, it is important to note that the periods of upward volatility in the price index were created only during periods when bankers willfully abandoned the gold standard and counterfeited US dollars, as was the case during the US Civil War, when banker Elbridge G. Spaulding convinced President Lincoln to issue the infamous Greenback, backed by nothing, to fund the war. During the Civil War, prices soared due to inflation, but a return to the gold standard after the war ended brought post-war prices back in line with pre-war prices once again. This is what REAL money does - it regulates economic growth in a sustainable manner, disallows massive price distortions that counterfeit money encourages and keeps prices constant over long periods of time. So anytime you read about banking shills that argue against a gold standard because they point to periods of massive inflation that existed under a gold standard, you will discover that during these periods, bankers were either diluting the gold standard and cheating the people, or that a PSEUDO, and not a TRUE, gold standard, i.e. Bretton Woods, was in use. COUNTERFEIT money, on the other hand, devalues money over long periods of time, and thus, has a built-in component of forever creating more and more poverty. That is why today, in New York City, the words “Give me your tired, your poor” that appear on the Statue of Liberty are unfortunately more apropos than ever, as our acceptance of the use of counterfeit money has caused conditions of homelessness in NYC to now approach the miserable conditions that existed during the Great Depression. Yes, you have your friendly neighborhood banker to thank for this, and if you still don’t understand, please keep reading.   After Roosevelt passed the treasonous Executive Order 6102 that confiscated gold, and he caved in to the bankers’ plan to turn the world’s REAL money into 100% COUNTERFEIT money, the price index nearly doubled in the next 20 years, and then increased 400% over the subsequent 40 years. This is what counterfeiting money achieves. Cheap imitation copies of the original product (1973 dollars) devalues all existing original product (1933 dollars). Thus, the situation that caused people to fear the banker’s criminality in the 1930s and led to an overwhelming desire to hold physical gold versus paper has actually worsened at an exponential pace ever since Executive Order 6102. But thanks to the re-education camps of modern academics today, the situation accepted by no Americans in the 1920s is now not only willingly accepted by nearly 100% of Americans today but also accepted by nearly 100% of the 7 billion people populating this earth (with the exception of the Japanese, Indians, Chinese, and Middle Eastern peoples).   Bankers Have Already Been Running Executive Order 6102-Like Interference in South Korea and in India And this is why instead of confiscation today, banker-controlled and run Western governments (as detailed in "The Quiet Coup", by Simon Johnson) only need to concentrate on pre-emptive strikes that convince people NOT to buy gold and silver today. By besieging the people with psychological warfare, the bankers' pre-emptive strikes achieve the exact same mission as the gold confiscation mandate of Executive Order 6102 by keeping gold (and silver) out of the hands of the people. As I’ve made reference to this above, in regions of the world where the citizenry has NOT been brainwashed into ignorance about monetary truth by banker-controlled re-education curricula, governments have resorted to chicanery and legislation to confiscate and steal the people’s gold and to prevent them from buying more. For example, during the 1997 SE Asian Tigers banking crisis, the banker-controlled S. Korean government tricked people into giving up their gold by using the political angle of patriotism.   The Korean government launched a “Collect Gold for the Love of Korea” campaign and recruited the help of three major Korean corporations, Samsung, Daewoo and Hyundai, to trick all Korean citizens into believing that if they didn’t turn over their gold to the government, they were “unpatriotic”. Shame on Samsung, Daewoo and Hyundai for tricking their own people like this. In fact, the most patriotic thing Korean citizens could have done was defy the government, buy guns with their gold, and round up and jail the criminal banking class that destroyed the won from an exchange rate of 800 won per USD to a pathetic exchange rate of 1,700 won per USD during this crisis. Had Koreans done this instead of falling victim to this banker driven scam, South Korea would perhaps not be suffering from monetary and economic distresses today. Instead, incredulously the bankers were able to scam well over 100,000 citizens, including even my grandmother back then, as Koreans cumulatively donated more than 20 tonnes of gold to the bankers (the exact amount remains unknown today because the government stopped reporting official numbers after the donations ran in excess of 20 tonnes). Today, at a price of $1,580 a troy ounce, those 20 tonnes represent more than $1 billion of wealth stolen by bankers through their use of simple propaganda. So in 1997, South Koreans received and responded to Executive Order 6102 delivered under the guise of “patriotism”.   In India, scams of “Give Up Your Gold for the Love of India” would never work because Indians in general, as one of the largest private holders of gold in the world, understand that gold is real money and that rupees are counterfeit money. This is why, even the poor in India will convert their rupees into gold whenever possible. Thus to achieve the mission of Executive Order 6102 in India, bankers need to legislate Indian’s gold buying habits because psychological warfare, effective in other countries, will have no effect in India. When gold is raided in paper markets by bankers and the price drops, Westerners may panic sell in fear, but not Indians. Indians will correctly see the drop as a significant buying opportunity and buy more gold. Furthermore, despite gold’s more than 500% ascent from $250 an troy ounce to $1580, Indians understand that a 500% increase in price does not make gold expensive, but understand that only over valuation can make gold expensive and since gold is still severely undervalued, that it is still a bargain after a 500% increase in price. Thus, the criminal banking class has to assert itself differently in India to accomplish the mission of EO 6102. To stop gold buying, bankers that control India have jacked up the import tax on gold from 1% in December of 2011 to 6% and are discussing a further increase to 8% right now, a move that would represent a 700% increase of the tax on gold in little over a one-year period. Welcome to the pre-emptive strike I discussed above and the Indian equivalent of the tyrannical US Executive Order 6102.   How Is The Current Administration Achieving the Goals of Executive Order 6102 in the US Today? Through Psychological Warfare Finally, what methods are the Rockefellers, the Rothschilds and their agent bullion banks in the US employing to re-enact Executive Order 6102 in the United States? Again, since re-education about the monetary and banking system has been completed in America and only a tiny percentage of Americans understand that only gold and silver are money, and all US dollars are nothing but credit (aka counterfeit money), ownership of physical gold (and silver) by the masses is accordingly low. Thus, bankers have also decided to use pre-emptive psychological strikes of irrational fear against the people to accomplish the mission of Executive Order 6102. If the bankers can keep Americans from buying physical gold and physical silver and keep Westerners invested in hugely devaluing dollars, Euros, Pounds, and yen in the form of the global stock markets, then they have achieved their mission of perpetuating our massive fiat counterfeit money bubble. Why do we have a counterfeit money bubble? Because the intrinsic value of all counterfeit money is zero. Thus, when this counterfeit money bubble pops, fiat money millionaires will be welcomed to poverty.   In order to keep people “fearful” of gold, bankers have deliberately introduced massive artificial volatility into the price of spot gold and spot silver through their manipulation of paper derivative products along with these three additional techniques I explain in this article.   Remember by keeping people fearful of buying gold NOW with massive propaganda, then there is no need for bankers to confiscate peoples’ gold LATER. When the bankers finally massively revalue gold in coming years as they did in 1933, when the revalued gold by 69% higher AFTER confiscating it from the people, they will own the most gold and will benefit the most of all peoples, and cause enormous losses of wealth among all people that they have convinced to hold on to fiat counterfeit paper money like the US dollar, the Euro, the Pound Sterling and the Yen. To summarize, bankers have initiated pre-emptive strikes against Western citizens using rigged volatility in gold and silver markets to create and foster fear among Westerners regarding a collapse of physical gold and physical silver prices that simply will not happen. The end effect of these tactics are the exact same as Executive Order 6102: a citizenry that continues to store his wealth in a paper fiat currency that buys less and less every year and almost zero amounts in real money, physical gold and physical silver.   A Simple Example That Should Make It Crystal Clear That ALL Fiat Currency Today is COUNTERFEIT Money I leave you with a very simple fact-based story to conclude this article. If you had kept $20,000 in a bank savings account since 1913, you would still only have $20,000 dollars in your bank account. But remember that in 1913, one would have been able to buy a very large house with $20,000 whereas today, one can not even buy a decent new car with $20,000. Obviously, the nominal amount of dollars has no meaning and accumulating significantly more dollars does not make one richer as many American foolishly believe today. To buy the same $20,000 house one could buy in 1913, since bankers have destroyed 98% of the purchasing power of the 1913 dollar with their counterfeiting efforts over the last 100 years, one would now need 50X the amount of 1913 $20,000 dollars today, or a whopping $1,000,000 2013 dollars just to buy the same house that $20,000 could have afforded you in 1913.   Another way of stating that is even if you had $999,999 2013 dollars versus only $20,000 1913 dollars, you would still be poorer today than you were in 1913, an astounding fact. Now imagine you had converted your $20,000 into gold in 1913. In 1913, gold was priced at $18.92 an ounce. Therefore $20,000 would have bought 1,057 ounces of gold. Instead of holding $20,000 in the bank since 1913, had you converted this COUNTERFEIT money in the form of US dollars into the REAL money of gold and simply held 1,057 ounces of gold in a vault (granted one outside of the US) since 1913, your 1,057 ounces of vaulted gold would now be worth 1,057 ounces * 1,580 an ounce = $1,670,060 2013 dollars. And when gold reaches $5,000 an ounce, these 1,057 ounces will increase from $1,670,060 2013 dollars to $5,285,000 future-year dollars. I’ve actually told a class full of 10-year old children that hadn’t yet been exposed to the re-education process this very example and asked them what would they want today given the following choice: $20,000 of USD or $20,000 of gold? 100% of them answered $20,000 of gold because this example makes the decision so clear and so simple.   What is money? Something that holds its value over 80 years and increases 83X in value (gold) against the “thing” (USD) we call money today, or something (USD) that plummets to 1/50th of its value in 80 years?   This example alone should be able to convince 100% of people of what is REAL money and what is COUNTERFEIT money and that the bankers' objectives are to keep you from owning REAL money and to keep you holding COUNTERFEIT money. The lunacy of bankers’ re-education campaigns, in which they have instructed people to believe that COUNTERFEIT money is REAL money and REAL money is COUNTERFEIT money, is that most people that would never consider buying gold today or turning their paper COUNTERFEIT money into REAL gold money or REAL silver money have heard about the US government stealing gold from American citizens through Executive Order 6102 in 1933. And most people understand that you would not steal something that has NO VALUE and give people something in exchange that has MORE VALUE. Yet when the bankers stole people’s gold in 1933, they gave them fiat COUNTERFEIT US dollars in exchange for their REAL money of gold. Yet today, people cannot connect the simple dots and still choose to hold FIAT CURRENCIES that have LESS VALUE and GUARANTEE THEM LESS WEALTH in the future instead of simply exchanging it for something of MORE VALUE that GUARANTEES THEM MORE WEALTH in the future. The definition of a counterfeit good is something that looks like the original but is of lesser value than the original or dilutes the value of the original. That is exactly the definition of all fiat money today. In the example above, a 2013 dollar is only worth 1/50th of the value of a 1913 dollar because every additional COUNTERFEIT dollar the Central Banking families creates dilutes the value of that original 1913 dollar.   The funny thing is, as I’ve explained in this article, governments and bankers worldwide are successfully imposing the end goals of Executive Order 6102 on us with impunity and without as much as a single whimper out of us due to our utter failure to understand the artificial rigging mechanisms bankers use to set spot gold and spot silver prices. Thus whenever the criminal banking cartel utilizes these rigging mechanisms to game gold and silver prices lower and release through the media and banks that they own that gold and silver are bubbles that have just burst, this is sufficient to keep millions of Westerners from ever buying their first physical ounce of gold or silver. Or even worse yet, bankers have shuttled people into phony ETFs like the GLD and SLV that likely own COUNTERFEIT gold and silver. I am still amazed today, that when I tell people to convert as much of their fiat paper into physical gold and physical silver as possible to protect their wealth, that the majority, not the minority of people, still view gold as the risky asset and fake COUNTERFEIT fiat money as the safe asset even though I have informed them that the US dollar that has lost 98% of its value and purchasing power since 1913! Yes, all those suits at the big global commercial investment firms are wildly wrong when they inform you that you should have 5% or 10% of your physical assets in gold. At SmartKnowledgeU, I’ve been telling our clients to own gold since $580 an ounce and silver since less than $11 an ounce because of the indisputable facts of monetary history. In my 2008 article, in which I explained why $800 gold was still cheap, the media was trying to sell the people an idea that $800 gold was massively expensive and signs of the existence of a gold bubble back then, furthering this notion with the lie that “gold [was] at 27-year highs.” In this article, I deliberately used the grossly under-reported US “official” inflation statistics to determine an inflation-adjusted gold price to illustrate why gold was still a great value at $800 an ounce, as in 2008, trying to cram 100% truth down the throats of an unwilling-to-listen populace by using the real inflation statistics of Shadowstats would have been a near impossibility. How To Protect Your Wealth Against the Counterfeiting Racket of Central & Commercial Banks Worldwide The conversion of 5% to 10% of your assets into physical gold (remember, never buy paper gold) will be insufficient to protect your wealth when hyperinflation arrives due to the legalized counterfeiting racket known as the Central Banking and Commercial Banking system. You should be converting as much of your fiat currency into physical gold (and silver) as possible, even 90% or more, if that is possible for you to do. As far as those that say doing so is impractical, research the avenues to do this that now exist, use the grey matter inside your head called your brain, and you will find that technology has rendered the accumulation of REAL MONEY today as very practical. History already tells us what is coming in the future and what is the right thing to do. Even so, due to the mass media spreading 1000 articles of lies and propaganda about gold and silver for every one article of truth that surfaces in the independent media, the vast majority of people will still ignore history and insist on subjecting themselves to massive wealth destruction by holding on to their fiat COUNTERFEIT money and self-inflicting Executive Order 6102 upon themselves when no one is forcing them to do so. Of course, if people would only understand the monetary truths and could digest the monetary facts contained in this article without regurgitating them to make room for the brainwashing propaganda of bankers, we already would have overthrown the corrupt criminal global banking cartels years, or perhaps decades ago, through peaceful means. If you don’t understand what this statement means, simply re-read this article and the solution to defeating the bankers’ systematic mission of bankrupting the world’s citizens will soon become clear. What we know from history, especially in the banking world, is that unfortunately we are destined to repeat the same mistakes of our ancestors despite being presented with indisputable historical evidence that should move us to action. Thus, I’m leaving it up to each one of you to spread the monetary truth of this article to everyone you know until understanding of monetary truth becomes as common today as it once was throughout the 1800s and early 1900s.   Arguments Against the Re-Implementation of a Gold Standard Are ALL Without Merit Though I have not discussed how counterfeit money allows bankers to rig the prices of all markets and immorally and unfairly hoard all wealth for themselves, as this is a topic beyond the scope of this article, please refer to the below video titled “Wealth Inequality in America” to see a visual representation of just how obscene wealth distribution in America has become. Also you can read this excerpt from my recent book The Golden Gift, that explains why these arguments are without merit.       I imagine this wealth distribution pattern to be just as obscene in many EU nations as well. In addition, I believe that the top 1% of the wealthiest in America currently also own the lion’s share of all physical gold and physical silver in the United States. Because this top 1% benefits the most from rigged financial markets and truly understand the rigging games as opposed to the masses, they are the most likely to have been converting their COUNTERFEIT fiat paper money into REAL money like physical gold and physical silver. Now I want to make it crystal clear that my intent is not to demonize the top 1% of the wealthiest people in any country as surely there are some entrepreneurs among this group that earned their wealth honestly. However, those that earned their immense wealth through immorally rigging markets, like the LIBOR market, the gold and silver market, and so forth, are the ones for whom I have much disdain.   Stay tuned for Part 2 next week on my blog, theUndergroundInvestor, as I’ll discuss more of the psychological warfare tactics that bankers have employed against us in their (not our) academic system that have led us down the path to weak convergent thinking (v. enlightened divergent thinking) that ultimately is responsible for our failure to understand a reality of our monetary system that is very different than the one bankers have taught us to believe. Here’s some food for thought in the meantime before my next article: I have found it much easier to teach home-schooled teenagers to understand the reality of our Counterfeit monetary system today than teenagers that attend traditional schools in the public/private education system. Why do you think the fable of “Curiosity killed the cat” is so widely known and popular among children? Instead of teaching kids how to find Waldo (Wally), parents should be teaching their kids how to spot counterfeit money and to replace it with real money.  Would you accept counterfeit Louis Vuitton bags, counterfeit Coach wallets and counterfeit Samsung Galaxy S2 phones as payment for your work? If not, then you certainly shouldn't be accepting counterfeit Euros, Yen, Dollars, or Pounds as payment for your work without converting it immediately into REAL money.  About the author: JS Kim is the founder and Managing Director of SmartKnowledgeU, a fiercely independent research and consulting firm that focuses on wealth building through the accumulation of gold and silver assets with a mission of returning the world to the use of REAL MONEY once again. To learn more about the topic of this article, including how a return to a TRUE gold standard (Bretton Woods was not a true gold standard) could return the world to a time of economic prosperity and help eradicate poverty, consider JS’s latest book, The Golden Gift, of which he will be donating 100% of all profits from first-year sales to orphanages around the world and bookmark our blog www.theundergroundinvestor.com here to read our articles as soon as they are released. Follow us on Twitter @smartknowledgeu and on our SmartKnowledgeU YouTube channel.

07 марта 2013, 12:50

Governments Worldwide are Implementing Orwellian Gold Confiscation Today. You Just Haven’t Realized it Yet.

Bankers Have Flipped Monetary Truth Upside Down Bankers have flipped the paradigm of monetary truth upside down today. People believe in fiat digital money that is, by definition of the term, counterfeit and have zero belief in money that is real, and thus lasted over 5000 years of global history. In fact so few people today have an understanding of monetary history and truth that when I tell them that all money in wide use and circulation today is the equivalent of counterfeit money, even though this is true, they look at me like my beliefs, not their beliefs, are crazy. Hopefully this article will finally open some eyes and answer the question, "What is money and what is not?"   Executive Order 6102 Was Passed to Force Americans to Use Counterfeit Instead of REAL Money In 1933, US President Franklin D. Roosevelt betrayed America and signed Executive Order 6102 into law, making physical possession of more than $100 of gold illegal and punishable by a $10,000 fine and 10 years of prison, to bail out the private Rothschild banking family that controlled and owned the Bank of England, because the Rothshchilds had counterfeited the Pound Sterling to finance World War I. Pre-WWI, the pound was 15% backed by gold reserves. Post-WWI, because the Rothschilds had created pounds of thin air backed by nothing and failed to maintain the gold standard, the pound was only 7% backed by gold reserves. Yet, the Rothschilds and the Bank of England refused to revalue the gold/pound exchange rate. However, back then, unlike today, people understood how money works, called the Rothschilds on their scam and started converting their heavily counterfeited and devalued pounds into the pre-WWI gold/pound exchange rate, knowing that they were receiving more gold per pound than the gold reserves held by the Rothschilds dicatated.   This is why the thought of a return to a monetary system of gold and silver money absolutely terrifies the criminal banking cartel so much. Note that this is completely different than the criminal banking cartel fearing gold ownership for themselves. They are snapping up as much physical gold as possible right now. They just don't want YOU to own any. A 100% gold backed monetary system (the only kind of gold standard I support) allows the people to punish the bankers and take their wealth when they try to cheat us. A counterfeit fiat digital system, the kind we all use today, however, allows bankers to perpetually steal wealth from all of us. Under our current counterfeit monetary system of fiat digital currencies, of course we can still choose to convert our counterfeit digital money backed by air into the real money of physical gold and silver, but so few people choose to do this. So let's explore why. In order to stop their gold losses, the Bank of England asked the US Federal Reserve to start counterfeiting US dollars to weaken the dollar against the pound. With heavy devaluation of the two major global currencies at hand and the ongoing collapse of the German mark, when the Reichsbank hyperinflated marks to such a degree that the largest denominated note increased from just 1000 marks to an insane 100,000,000,0000 marks in short time (yes, there was a 100 billion mark note back then, probably the inspiration for Paul Krugman's idiotic suggestion of printing ONE TRILLION dollar coins to pay off the REAL US national debt of $200+ trillion), many people justly and rightfully preferred converting their treasonous devaluing paper fiat money into the real money of gold.   So the ongoing counterfeiting of the world’s major currencies eventually led President Franklin D. Roosevelt to betray all Americans and choose to serve his money masters instead of serving the people (all governments only give lip service to serving the people but in reality, always serve the interest of their money masters only). To save his masters, the bankers, Roosevelt passed Executive Order 6102, an EO that literally stole gold from American citizens, gave it to the bankers, and gave Americans devaluing counterfeit money instead. Before you tune out, if you believe my labeling of US dollars as counterfeit money is "unpatriotic", I will prove to you that all fiat money today is counterfeit money beyond a shadow of a doubt, and that in fact, a true patriot would despise the digital US dollar backed by nothing and the bankers that have created them. Today, with massive devaluation of all global currencies, with the Yen falling an astounding 24% against the Euro in just a few months, one would think that everyone in the world would learn from Executive Order 6102 that the way to preserve their wealth against the criminal amoral banking class is to convert not 5%, not 10%, and not even 30%, but as much of their fiat and digital currency as humanly possible into physical gold and physical silver.   However, there was one massive difference between citizens of the early 1900s and citizens today that prevents people from grasping this realization and that required bankers to outright steal private citizen’s stores of gold back then through the mandate of a Presidential Executive Order - the widespread knowledge of monetary truth.   All through the 1800s until 1879 in the United States, a bi-metallic standard existed in which physical gold and silver and paper notes backed by gold and silver were used as money. However, back then, paper notes backed by gold, though they were in circulation and even issued by the US Treasury, were not even considered “legal tender”. In 1879, the bimetallic gold and silver standard in the US was changed to a gold standard that remained in effect until 1933. Thus throughout the 1800s and the early-to-mid 1900s, nearly 100% of Americans understood that only gold and silver were ever to be trusted as money and that paper notes, if not backed by gold or silver, were just that, paper and nothing more. Even the vast majority of the middle-class and poor in the US that did not have enough resources to accumulate physical gold and physical silver still understood that they should accept only gold and silver as real money and that all else should be considered as fake or counterfeit money. It was this widespread understanding and knowledge of monetary truth that caused bankers to panic after they started counterfeiting money in masse during World War I and led them to order President Roosevelt to confiscate people’s gold in 1933, the year the gold standard effectively ended in the US.       People Don't Have the Knowledge to Wage War Against the Bankers & Win Today Because Bankers Have Nearly Purged All Truth About Money From History Books & Education However, today, we have a completely different scenario because of this massive gap in knowledge about money between 1800 and 1900 America and 2013 America. In the 80 years since the bankers ceased convertibility of bank notes into gold in 1933, the bankers have worked furiously to purge all history of monetary truths from school books in the same manner that brutal dictators Chairman Mao and Pol Pot chose to purge the cultural history of their nations from the memories of their citizens. After all, today's people can’t miss monetary freedom if they lack the knowledge of their ancestors and never knew it existed in their recent history, even when monetary freedom (v. the monetary enslavement of today) existed less than one generation ago. This mission of the bankers in America was to purge from the memories of all Americans the history of stable economic growth and widespread prosperity realized under a gold standard, and they, by and large, succeeded. If I tell people today that the global banking system is a Ponzi scheme that runs on counterfeit money, even “educated” people (though they are more properly labelled as the re-educated and miseducated) look at me like I have lost my mind. This is how I know that the bankers have successfully purged almost all knowledge of monetary truth from the memories of today’s citizens. Thus the situation today is nearly the exact opposite of what existed less than a century ago. Back then, nearly 100% of people understand that no money was to be accepted except gold and silver and certainly never to accept paper backed by nothing. Today, you would be hard pressed to find one person out of 100,000 that understand this.   The US Federal Reserve Turns REAL Money In Widespread Circulation Into COUNTERFEIT Money In fact, ever since private bankers created the US Federal Reserve in 1913 and then turned money from REAL money into COUNTERFEIT money in 1933, they have continued to commit the same degradation of fiat currencies that they committed during WWI, but only on an exponentially more rapid timeline. In other words from 1800 to 1929, the price index in America was about the same after 129 years under a gold standard (though there were volatile periods in between)! However, it is important to note that the periods of upward volatility in the price index were created only during periods when bankers willfully abandoned the gold standard and counterfeited US dollars, as was the case during the US Civil War, when bankers printed the infamous Greenback, backed by nothing, to fund the war. During the Civil War, prices soared due to inflation, but a return to the gold standard after the war ended brought post-war prices back in line with pre-war prices once again. This is what REAL money does - it regulates economic growth in a sustainable manner, disallows massive price distortions that counterfeit money encourages and keeps prices constant over long periods of time. So anytime you read about banking shills that argue against a gold standard because they point to periods of massive inflation that existed under a gold standard, you will discover that during these periods, bankers were either diluting the gold standard and cheating the people, or that a PSEUDO, and not a TRUE, gold standard, i.e. Bretton Woods, was in use. COUNTERFEIT money, on the other hand, devalues money over long periods of time, and thus, has a built-in component of forever creating more and more poverty. That is why today, in New York City, the words “Give me your tired, your poor” that appear on the Statue of Liberty are unfortunately more apropos than ever, as our acceptance of the use of counterfeit money has caused conditions of homelessness in NYC to now approach the miserable conditions that existed during the Great Depression. Yes, you have your friendly neighborhood banker to thank for this, and if you still don’t understand, please keep reading.     After Roosevelt passed the treasonous Executive Order 6102 that confiscated gold, and he caved in to the bankers’ plan to turn the world’s REAL money into 100% COUNTERFEIT money, the price index nearly doubled in the next 20 years, and then increased 400% over the subsequent 40 years. This is what counterfeiting money achieves. Cheap imitation copies of the original product (1973 dollars) devalues all existing original product (1933 dollars). Thus, the situation that caused people to fear the banker’s criminality in the 1930s and led to an overwhelming desire to hold physical gold versus paper has actually worsened at an exponential pace ever since Executive Order 6102. But thanks to the re-education camps of modern academics today, the situation accepted by no Americans in the 1920s is now not only willingly accepted by nearly 100% of Americans today but also accepted by nearly 100% of the 7 billion people populating this earth (with the exception of the Japanese, Indians, Chinese, and Middle Eastern peoples).     Bankers Have Already Been Running Executive Order 6102-Like Interference in South Korea and in India And this is why instead of confiscation today, banker-controlled and run Western governments (as detailed in "The Quiet Coup", by Simon Johnson) only need to concentrate on pre-emptive strikes that convince people NOT to buy gold and silver today. By besieging the people with psychological warfare, the bankers' pre-emptive strikes achieve the exact same mission as the gold confiscation mandate of Executive Order 6102 by keeping gold (and silver) out of the hands of the people. As I’ve made reference to this above, in regions of the world where the citizenry has NOT been brainwashed into ignorance about monetary truth by banker-controlled re-education curricula, governments have resorted to chicanery and legislation to confiscate and steal the people’s gold and to prevent them from buying more. For example, during the 1997 SE Asian Tigers banking crisis, the banker-controlled S. Korean government tricked people into giving up their gold by using the political angle of patriotism.   The Korean government launched a “Collect Gold for the Love of Korea” campaign and recruited the help of three major Korean corporations, Samsung, Daewoo and Hyundai, to trick all Korean citizens into believing that if they didn’t turn over their gold to the government, they were “unpatriotic”. Shame on Samsung, Daewoo and Hyundai for tricking their own people like this. In fact, the most patriotic thing Korean citizens could have done was defy the government, buy guns with their gold, and round up and jail the criminal banking class that destroyed the won from an exchange rate of 800 won per USD to a pathetic exchange rate of 1,700 won per USD during this crisis. Had Koreans done this instead of falling victim to this banker driven scam, South Korea would perhaps not be suffering from monetary and economic distresses today. Instead, incredulously the bankers were able to scam well over 100,000 citizens, including even my grandmother back then, as Koreans cumulatively donated more than 20 tonnes of gold to the bankers (the exact amount remains unknown today because the government stopped reporting official numbers after the donations ran in excess of 20 tonnes). Today, at a price of $1,580 a troy ounce, those 20 tonnes represent more than $1 billion of wealth stolen by bankers through their use of simple propaganda. So in 1997, South Koreans received and responded to Executive Order 6102 delivered under the guise of “patriotism”.   In India, scams of “Give Up Your Gold for the Love of India” would never work because Indians in general, as one of the largest private holders of gold in the world, understand that gold is real money and that rupees are counterfeit money. This is why, even the poor in India will convert their rupees into gold whenever possible. Thus to achieve the mission of Executive Order 6102 in India, bankers need to legislate Indian’s gold buying habits because psychological warfare, effective in other countries, will have no effect in India. When gold is raided in paper markets by bankers and the price drops, Westerners may panic sell in fear, but not Indians. Indians will correctly see the drop as a significant buying opportunity and buy more gold. Furthermore, despite gold’s more than 500% ascent from $250 an troy ounce to $1580, Indians understand that a 500% increase in price does not make gold expensive, but understand that only over valuation can make gold expensive and since gold is still severely undervalued, that it is still a bargain after a 500% increase in price. Thus, the criminal banking class has to assert itself differently in India to accomplish the mission of EO 6102. To stop gold buying, bankers that control India have jacked up the import tax on gold from 1% in December of 2011 to 6% and are discussing a further increase to 8% right now, a move that would represent a 700% increase of the tax on gold in little over a one-year period. Welcome to the pre-emptive strike I discussed above and the Indian equivalent of the tyrannical US Executive Order 6102.     How Is The Current Administration Achieving the Goals of Executive Order 6102 in the US Today? Through Psychological Warfare Finally, what methods are the Rockefellers, the Rothschilds and their agent bullion banks in the US employing to re-enact Executive Order 6102 in the United States? Again, since re-education about the monetary and banking system has been completed in America and only a tiny percentage of Americans understand that only gold and silver are money, and all US dollars are nothing but credit (aka counterfeit money), ownership of physical gold (and silver) by the masses is accordingly low. Thus, bankers have also decided to use pre-emptive psychological strikes of irrational fear against the people to accomplish the mission of Executive Order 6102. If the bankers can keep Americans from buying physical gold and physical silver and keep Westerners invested in hugely devaluing dollars, Euros, Pounds, and yen in the form of the global stock markets, then they have achieved their mission of perpetuating our massive fiat counterfeit money bubble. Why do we have a counterfeit money bubble? Because the intrinsic value of all counterfeit money is zero. Thus, when this counterfeit money bubble pops, fiat money millionaires will be welcomed to poverty.     In order to keep people “fearful” of gold, bankers have deliberately introduced massive artificial volatility into the price of spot gold and spot silver through their manipulation of paper derivative products along with these three additional techniques I explain in this article.     Remember by keeping people fearful of buying gold NOW with massive propaganda, then there is no need for bankers to confiscate peoples’ gold LATER. When the bankers finally massively revalue gold in coming years as they did in 1933, when the revalued gold by 69% higher AFTER confiscating it from the people, they will own the most gold and will benefit the most of all peoples, and cause enormous losses of wealth among all people that they have convinced to hold on to fiat counterfeit paper money like the US dollar, the Euro, the Pound Sterling and the Yen. To summarize, bankers have initiated pre-emptive strikes against Western citizens using rigged volatility in gold and silver markets to create and foster fear among Westerners regarding a collapse of physical gold and physical silver prices that simply will not happen. The end effect of these tactics are the exact same as Executive Order 6102: a citizenry that continues to store his wealth in a paper fiat currency that buys less and less every year and almost zero amounts in real money, physical gold and physical silver.     A Simple Example That Should Make It Crystal Clear That ALL Fiat Currency Today is COUNTERFEIT Money I leave you with a very simple fact-based story to conclude this article. If you had kept $20,000 in a bank savings account since 1913, you would still only have $20,000 dollars in your bank account. But remember that in 1913, one would have been able to buy a very large house with $20,000 whereas today, one can not even buy a decent new car with $20,000. Obviously, the nominal amount of dollars has no meaning and accumulating significantly more dollars does not make one richer as many American foolishly believe today. To buy the same $20,000 house one could buy in 1913, since bankers have destroyed 98% of the purchasing power of the 1913 dollar with their counterfeiting efforts over the last 100 years, one would now need 50X the amount of 1913 $20,000 dollars today, or a whopping $1,000,000 2013 dollars just to buy the same house that $20,000 could have afforded you in 1913.   Another way of stating that is even if you had $999,999 2013 dollars versus only $20,000 1913 dollars, you would still be poorer today than you were in 1913, an astounding fact. Now imagine you had converted your $20,000 into gold in 1913. In 1913, gold was priced at $18.92 an ounce. Therefore $20,000 would have bought 1,057 ounces of gold. Instead of holding $20,000 in the bank since 1913, had you converted this COUNTERFEIT money in the form of US dollars into the REAL money of gold and simply held 1,057 ounces of gold in a vault since 1913, your 1,057 ounces of gold in vault would now be worth 1,057 ounces * 1,580 an ounce = $1,670,060 2013 dollars. And when gold reaches $5,000 an ounce, these 1,057 ounces will increase from $1,670,060 2013 dollars to $5,285,000 future-year dollars. I’ve actually told a class full of 10-year old children that hadn’t yet been exposed to the re-education process this very example and asked them what would they want today given the following choice: $20,000 of USD or $20,000 of gold? 100% of them answered $20,000 of gold because this example makes the decision so clear and so simple.     What is money? Something that holds its value over 80 years and increases 83X in value (gold) against the “thing” (USD) we call money today, or something (USD) that plummets to 1/50th of its value in 80 years?     This example alone should be able to convince 100% of people of what is REAL money and what is COUNTERFEIT money and that the bankers objectives are to keep you from owning REAL money and to keep you holding COUNTERFEIT money. The lunacy of bankers’ re-education campaigns, in which they have instructed people to believe that COUNTERFEIT money is REAL money and REAL money is COUNTERFEIT money, is that most people that would never consider buying gold today or turning their paper COUNTERFEIT money into REAL gold money or REAL silver money have heard about the US government stealing gold from American citizens through Executive Order 6102 in 1933. And most people understand that you would not steal something that has NO VALUE and give people something in exchange that has MORE VALUE. Yet when the bankers stole people’s gold in 1933, they gave them fiat COUNTERFEIT US dollars in exchange for their REAL money of gold. Yet today, people cannot connect the simple dots and still choose to hold FIAT CURRENCIES that have LESS VALUE and GUARANTEE THEM LESS WEALTH in the future instead of simply exchanging it for something of MORE VALUE that GUARANTEES THEM MORE WEALTH in the future. The definition of a counterfeit good is something that looks like the original but is of lesser value than the original or dilutes the value of the original. That is exactly the definition of all fiat money today. In the example above, a 2013 dollar is only worth 1/50th of the value of a 1913 dollar because every additional COUNTERFEIT dollar the Central Banking families creates dilutes the value of that original 1913 dollar.     The funny thing is, as I’ve explained in this article, governments and bankers worldwide are successfully imposing the end goals of Executive Order 6102 on us with impunity and without as much as a single whimper out of us due to our utter failure to understand the artificial rigging mechanisms bankers use to set spot gold and spot silver prices. Thus whenever the criminal banking cartel utilizes these rigging mechanisms to game gold and silver prices lower and release through the media and banks that they own that gold and silver are bubbles that have just burst, this is sufficient to keep millions of Westerners from ever buying their first physical ounce of gold or silver. Or even worse yet, bankers have shuttled people into phony ETFs like the GLD and SLV that likely own COUNTERFEIT gold and silver. I am still amazed today, that when I tell people to convert as much of their fiat paper into physical gold and physical silver as possible to protect their wealth, that the majority, not the minority of people, still view gold as the risky asset and fake COUNTERFEIT fiat money as the safe asset even though I have informed them that the US dollar that has lost 98% of its value and purchasing power since 1913! Yes, all those suits at the big global commercial investment firms are wildly wrong when they inform you that you should have 5% or 10% of your physical assets in gold. At SmartKnowledgeU, I’ve been telling our clients to own gold since $580 an ounce and silver since less than $11 an ounce because of the indisputable facts of monetary history. In my 2008 article, in which I explained why $800 gold was still cheap, the media was trying to sell the people an idea that $800 gold was massively expensive and signs of the existence of a gold bubble back then, furthering this notion with the lie that “gold [was] at 27-year highs.” In this article, I deliberately used the grossly under-reported US “official” inflation statistics to determine an inflation-adjusted gold price to illustrate why gold was still a great value at $800 an ounce, as in 2008, trying to cram 100% truth down the throats of an unwilling-to-listen populace by using the real inflation statistics of Shadowstats would have been a near impossibility.   How To Protect Your Wealth Against the Counterfeiting Racket of Central & Commercial Banks Worldwide The conversion of 5% to 10% of your assets into physical gold (remember, never buy paper gold) will be insufficient to protect your wealth when hyperinflation arrives due to the legalized counterfeiting racket known as the Central Banking and Commercial Banking system. You should be converting as much of your fiat currency into physical gold (and silver) as possible, even 90% or more, if that is possible for you to do. As far as those that say doing so is impractical, research the avenues to do this that now exist, use the grey matter inside your head called your brain, and you will find that technology has rendered the accumulation of REAL MONEY today as very practical. History already tells us what is coming in the future and what is the right thing to do. Even so, due to the mass media spreading 1000 articles of lies and propaganda about gold and silver for every one article of truth that surfaces in the independent media, the vast majority of people will still ignore history and insist on subjecting themselves to massive wealth destruction by holding on to their fiat COUNTERFEIT money and self-inflicting Executive Order 6102 upon themselves when no one is forcing them to do so.   Of course, if people would only understand the monetary truths and could digest the monetary facts contained in this article without regurgitating them to make room for the brainwashing propaganda of bankers, we already would have overthrown the corrupt criminal global banking cartels years, or perhaps decades ago, through peaceful means. If you don’t understand what this statement means, simply re-read this article and the solution to defeating the bankers’ systematic mission of bankrupting the world’s citizens will soon become clear. What we know from history, especially in the banking world, is that unfortunately we are destined to repeat the same mistakes of our ancestors despite being presented with indisputable historical evidence that should move us to action. Thus, I’m leaving it up to each one of you to spread the monetary truth of this article to everyone you know until understanding of monetary truth becomes as common today as it once was throughout the 1800s and early 1900s.   Arguments Against the Re-Implementation of a Gold Standard Are ALL Without Merit Though I have not discussed how counterfeit money allows bankers to rig the prices of all markets and immorally and unfairly hoard all wealth for themselves, as this is a topic beyond the scope of this article, please refer to the below video titled “Wealth Inequality in America” to see a visual representation of just how obscene wealth distribution in America has become. Also you can read this excerpt from my recent book The Golden Gift, that explains why these arguments are without merit.         I imagine this wealth distribution pattern to be just as obscene in many EU nations as well. In addition, I believe that the top 1% of the wealthiest in America currently also own the lion’s share of all physical gold and physical silver in the United States. Because this top 1% benefits the most from rigged financial markets and truly understand the rigging games as opposed to the masses, they are the most likely to have been converting their COUNTERFEIT fiat paper money into REAL money like physical gold and physical silver. Now I want to make it crystal clear that my intent is not to demonize the top 1% of the wealthiest people in any country as surely there are some entrepreneurs among this group that earned their wealth honestly. However, those that earned their immense wealth through immorally rigging markets, like the LIBOR market, the gold and silver market, and so forth, are the ones for whom I have much disdain.     Stay tuned for Part 2 next week on my blog, theUndergroundInvestor, as I’ll discuss more of the psychological warfare tactics that bankers have employed against us in the academic system that have led us to down the path of convergent v. divergent thinking that ultimately is responsible for our failure to understand a reality of our monetary system that is very different than the one bankers have taught us to internalize through their, not our, academic system. Here’s some food for thought in the meantime before my next article: I have found it much easier to teach home-schooled teenagers to understand the reality of our Counterfeit monetary system today than teenagers that attend traditional schools in the public/private education system. Why do you think the fable of “Curiosity killed the cat” is so widely known and popular among children? Instead of teaching kids how to find Waldo (Wally), parents should be teaching their kids how to spot counterfeit money and to replace it with real money.          About the author: JS Kim is the founder and Managing Director of SmartKnowledgeU, a fiercely independent research and consulting firm that focuses on wealth building through the accumulation of gold and silver assets with a mission of returning the world to the use of REAL MONEY once again. To learn more about the topic of this article, including how a return to a TRUE gold standard (Bretton Woods was not a true gold standard) could return the world to a time of economic prosperity and help eradicate poverty, consider JS’s latest book, The Golden Gift, of which he will be donating 100% of all profits from first-year sales to orphanages around the world. Follow us on Twitter @smartknowledgeu.

19 февраля 2013, 22:24

Should There Be Warning Labels On Coke?

Last week, a New Zealand coroner linked the 2010 death of Natasha Harris, a 31-year-old mother of eight, to health complications brought on by her excessive consumption of Coca-Cola. The coroner, David Crerar, did not hold the Coca-Cola company responsible for the woman's death. However, he recommended that warning labels be placed on soft drinks in an effort to educate the public about the health risks associated with overconsumption of sugary, caffeinated beverages. The suggestion is now facing criticism from both sides of the debate. While Coca-Cola and beverage industry associations have rejected the use of such labels as unfair, some critics of sugary drinks think that warnings alone might not be enough to impact public health. In a Feb. 13 statement, Katherine Rich, chief executive of the New Zealand Food & Grocery Council, an industry association, said that "No regulatory system can legislate for extreme cases" such as Harris'. According to depositions submitted to the coroner's inquest, Harris drank more than 2 gallons of Coke every day. Due to her habit, Crerar estimated that the woman's intake of caffeine was almost double the daily amount considered healthy. In addition, he estimated Harris consumed the equivalent of 2 pounds of sugar a day. In an email to The Huffington Post, Coca-Cola expressed sympathy for Harris and her family but said that it does "not believe soft drinks should be singled out from other beverages and foods for additional labeling requirements," claiming that "[the] caffeine levels in Coke are less than many other commonly consumed beverages," such as instant coffee and tea. While the coroner's finding linked excessive caffeine intake to the cardiac arrhythmia that killed Harris, Dr. Yoni Freedhoff, an obesity expert, said he thinks the added sugar in such beverages is the real problem. Freedhoff said he "wouldn't be opposed" to health warnings on packaging, since they've been shown effective in discouraging smoking, but he noted that in the case of soft drinks, labels alone might not be enough to impact public health. "With warning labels the only intervention, I doubt we'd see huge change. Couple warning labels with taxes on added sugars, public health campaigns explaining the risks inherent to their consumptions, limits on cups sizes ... and inclusion of added sugars as risky to school curricula, and I'd bet we'd see a big difference," Freedhoff wrote in an email to HuffPost. In literature about sugary drinks and obesity, the Harvard School of Public Health claims that "rising consumption of sugary drinks has been a major contributor to the obesity epidemic," and cited a two-decade study that linked consumption of sugary soft drinks with an increased risk of heart disease in men. A related study by the Department of Nutrition at Simmons College found a similar disease link in women, noting in conclusion that: "Regular consumption of [sugar sweetened beverages] is associated with a higher risk of [coronary heart disease] in women, even after other unhealthful lifestyle or dietary factors are accounted for." This finding is significant because critics of the New Zealand coroner's decision, which include Coca-Cola and trade associations, have pointed to health factors such as Harris' poor diet and heavy smoking habit as a way to detract from the role of sweetened beverages in her death. A review of policy guidelines on the addition of caffeine to foods is the subject of a current working group between Australian and New Zealand ministries, a spokesman for the New Zealand Ministry of Primary Industries told Stuff.co.nz. This isn't the first time that Coca-Cola has faced criticism from health advocates this year. In January, an ad claiming that lower-sugar and sugar-free Coca-Cola products could be part of the obesity solution was roundly criticized. After PepsiCo agreed to remove an additive from its Gatorade sports drinks following a flurry of consumer complaints, an online petition was started to ask Coca-Cola to do the same with its Powerade brand sports drinks. Related on HuffPost: var src_url="https://spshared.5min.com/Scripts/PlayerSeed.js?playList=517672048&height=411&width=570&sid=577&origin=undefined&relatedMode=2&relatedBottomHeight=60&companionPos=&hasCompanion=false&autoStart=false&colorPallet=%23FFEB00&videoControlDisplayColor=%23191919&shuffle=0&continuous=true"; src_url += "&onVideoDataLoaded=HPTrack.Vid.DL&onTimeUpdate=HPTrack.Vid.TC"; if (typeof(commercial_video) == "object") { src_url += "&siteSection="+commercial_video.site_and_category; if (commercial_video.package) { src_url += "&sponsorship="+commercial_video.package; } } document.write('' + 'ipt>');

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12 февраля 2013, 22:03

Obama's Role In 2007 Immigration Battle Debated

WASHINGTON -- As a junior senator from Illinois, Barack Obama played only a minor role in the 2007 battle for immigration reform, but the experience informs his approach to the current debate and casts a light on just how complex an issue it is politically. Business community lobbyists who watched Obama work at the time recall a man pulled in a multitude of directions. As a budding presidential candidate, he had an incentive to get involved in the process, but no obvious incentive to see a bill pass with overly harsh provisions that could anger labor unions and some in the Latino community. Today, Republicans are working to characterize President Obama's role in the last debate as unhelpful, laying the groundwork for the inevitable blame game to follow if the immigration effort fails this time around as well. The 2007 compromise was ushered by Sen. Ted Kennedy (D-Mass.) and former Sen. Jon Kyl (R-Ariz.), who teamed up to beat back amendments they considered "poison pills" -- provisions that, however worthy on their own, would upset a delicate balance and break the coalition apart. "Barack Obama played virtually no role in the negotiations," Kyl recalled to HuffPost, noting that there was one exception. During one meeting Kyl remembers Obama attending, Kyl said Obama pushed for a change to the employer verification process. Under the bill as agreed upon by Kennedy and Kyl, if an employee was not found in a database of those legally authorized to work, he or she would be terminated. Obama argued that the worker should be allowed to remain on the payroll as long as the appeals process was underway, arguing that the database would necessarily include a certain number of errors. Obama and the labor unions who backed the change prevailed. The bill was not derailed as a result, Kyl said, because Kennedy promised him the measure would be stripped before it was signed into law. The fight for immigration reform was one of Kennedy's last great battles on the Senate floor. Below is the final speech that Kennedy delivered just before a crucial vote: Obama did, however, vote at least five times against Kennedy on amendments, one of which passed and has been partly blamed by the bill's backers, including Kyl, for the overall bill's demise. The counterfactual question of whether it could have passed without those amendments must take into account the broad opposition from within the Republican ranks to anything related to so-called amnesty. Ultimately, even Senate Minority Leader Mitch McConnell (R-Ky.) voted against the package, raising the question of whether any bill would have been good enough. Six years removed from the debate, it's difficult to get a firm sense of exactly how Obama's role at the time was perceived, but in the case of the immigration debate, a meticulously thorough insider account exists in the form of the documentary "Last Best Chance," by filmmakers Shari Robertson and Michael Carmerini, who had extremely intimate and unique access to all of the major players both on and off the Hill. Obama rarely appears in the film, but in one key scene, a group of business community lobbyists reacts to the breaking news that Obama will support a poison pill amendment from former Sen. Byron Dorgan (D-N.D.). One of them sums up the reaction: "'Presidential candidate kills immigration bill' -- there's a headline for you," says Craig Silvertooth, in response to the news that Obama will vote for an amendment that the GOP and its business allies say destroys the compromise. Silvertooth was part of the Essential Worker Immigration Coalition, an offshoot of the Chamber of Commerce. "Last Best Chance" aired on HBO as "The Senators' Bargain" and captures the critical moment: var src_url="https://spshared.5min.com/Scripts/PlayerSeed.js?sid=577&width=570&height=351&playList=517664116&sequential=1&shuffle=0"; src_url += "&onVideoDataLoaded=HPTrack.Vid.DL&onTimeUpdate=HPTrack.Vid.TC"; if (typeof(commercial_video) == "object") { src_url += "&siteSection="+commercial_video.site_and_category; if (commercial_video.package) { src_url += "&sponsorship="+commercial_video.package; } } document.write('' + 'ipt>'); Dorgan says today that it's unfair to consider his amendment a deal-breaker. "I know the supporters called my amendment a poison pill, and it's because they were worried about losing the Chamber of Commerce support," he told HuffPost. "It's always the case that when an agreement is reached, those who reached the agreement are determined to prevent it from being amended, so they call every amendment a killer. They always claim it is like a loose thread on a cheap suit -- pull the thread and the arm falls off." The Dorgan amendment referenced in that scene passed 49-48, with Obama voting for it and Kennedy against. Obama also cosponsored a key amendment that greatly weakened the employee verification process, along with Sens. Max Baucus (D-Mont.) and Charles Grassley (R-Iowa). The Baucus-Grassley-Obama measure was considered a major threat by the Kennedy-Kyl coalition, and a GOP lobbyist who worked on it recalled that she expected it to pass if it got a vote. It never came up because the previous amendment, the one sponsored by Dorgan, did pass, and because of a complicated parliamentary procedure known as the "clay pigeon," Dorgan's passage was followed by a vote on cloture instead of on the remaining amendments. Obama defended his employment verification position from the Senate floor in 2007, as captured here by C-SPAN: var src_url="https://spshared.5min.com/Scripts/PlayerSeed.js?playList=517664033&height=411&width=570&sid=577&origin=undefined&relatedMode=2&relatedBottomHeight=60&companionPos=&hasCompanion=false&autoStart=false&colorPallet=%23FFEB00&videoControlDisplayColor=%23191919&shuffle=0&continuous=true"; src_url += "&onVideoDataLoaded=HPTrack.Vid.DL&onTimeUpdate=HPTrack.Vid.TC"; if (typeof(commercial_video) == "object") { src_url += "&siteSection="+commercial_video.site_and_category; if (commercial_video.package) { src_url += "&sponsorship="+commercial_video.package; } } document.write('' + 'ipt>'); The final vote, though, showed that, despite how far the bill had gone in the direction of the GOP position, Republicans weren't ready for immigration reform. As votes on the critical cloture vote were cast -- presided over by Obama, coincidentally -- advocates of reform watched from their offices. "That's the whole thing," says one in the film as McConnell casts his critical no vote. Republicans voted against by a margin of 37-12. "This is about as right-leaning a bill that's conceivable. It just shows that the party is in the grip of the nativists in a way that it wasn't," says another. The documentary crew was there to capture the reactions in real time: var src_url="https://spshared.5min.com/Scripts/PlayerSeed.js?sid=577&width=570&height=351&playList=517664118&sequential=1&shuffle=0"; src_url += "&onVideoDataLoaded=HPTrack.Vid.DL&onTimeUpdate=HPTrack.Vid.TC"; if (typeof(commercial_video) == "object") { src_url += "&siteSection="+commercial_video.site_and_category; if (commercial_video.package) { src_url += "&sponsorship="+commercial_video.package; } } document.write('' + 'ipt>'); Kyl, meanwhile, said that his experience heading the '07 negotiations has left him concerned that today's Congress won't be able to come to agreement. He said that despite the progress he and Kennedy made, major issues remained largely unresolved. "It's easy to say, 'You have to go to the back of the line,'" Kyl said, but the line is so long for some nationalities with limited quotas that it becomes impractical. "For Mexicans and El Salvadorans, which are a large part of what we're talking about, they'd be dead by the time they got in," Kyl said. To manage that problem, he had agreed to allow the millions at the front of the line to be expedited, but that would then cause its own problems, including a massive influx of new immigrants who would need to be assimilated and absorbed into the labor market, he noted. How to resolve that conflict, he said, was never resolved. Nor, he said, were the critical details of the guest worker program, a major element of any comprehensive package. Kyl said that no agreement could be reached as to who would be considered a guest worker, what the levels would be, how they would respond to economic conditions and which federal agency would oversee the program.

22 января 2013, 14:06

The One Chart That Explains the Massive Risk of Investing in Gold & Gold Stocks

Viewing the chart above, a six-year old child could tell you that investing in physical gold and gold mining stocks (as indicated by the AMEX HUI gold bugs index) yielded returns from 2001 to 2012 far superior to the returns of the US S&P 500 Index over the same time period. In fact, the truth of this statement is so self-evident, that if this same child was asked what asset classes he should have been invested in over the past decade by viewing the above chart, the simplicity of that question might lead him to think that one is asking a trick question. So why is it that all the leading Wall Street investment firms stated during the visible onset of the global financial crisis in 2008 (versus the real onset of the global financial crisis quite a few years earlier) that gold was one of the riskiest assets in which one could possibly invest? The simple answer, of course, is that if they were the ones involved in the scam to take gold and silver prices down, then certainly they would not tell you that the steep, rapid (but short-lived) drop in gold/silver prices was a massive buying opportunity. However, if a six-year old can see what is so obvious, then why should a man of Warren Buffet’s prominence continue to slander gold and why does his right-hand man, Charlie Munger, make idiotic statements like “gold is a great thing to sew in your garments if you’re a Jewish family in 1939” but not to own, instead of just stating the truth that “physical gold (and physical silver) was one of the best assets to build wealth since 2001”? And if a six-year old can look at the above chart and immediately know that he or she should have beeen invested in gold and gold assets, why, according to the World Gold Council, is still only 1%, or $146 billion of the $146 trillion investable global assets, invested in gold, and 9.1% invested in money markets, 48.7% in fixed income, 37.2% in equities and 4.0% in alternative investments? (though these most recent statistics are from the end of 2010, it is doubtful that these statistics have changed much in the past two years.)   One of the main reasons why it is still likely that only 1% of all global invested assets are invested in gold is the psychological hatchet job that Wall Street and the global banking industry has performed on gold and gold stocks. For decades, bankers have repeated their false mantra that “gold and silver are incredibly risky”, using the strategy that if you tell a lie often enough, it may just be accepted as truth by the masses. The fact that millions of investors today still won’t even consider buying the top performing asset classes for more than the past decade (physical gold and physical silver, NOT the GLD and SLV), serves as testimony to the success of the bankers’ anti-gold, anti-silver propaganda campaign. Thus, the reason why just a piddling amount of investors around the world have allocated a substantial amount of their resources to gold, silver and PM stocks as of today is due to, quite simply, investor psychology. The commercial banking industry spends billions of dollars every year in marketing campaigns (exclusive of their investor relations budget), influencing and shaping investors’ beliefs into accepting a heaping pile of false beliefs. For example, according to Forbes Magazine, Bank of America spent $2 billion and Citigroup spent $1.6 billion in 2010 marketing expenses, and the biggest banks spent even far more for their annual advertising budget in recent years. As a result, bankers have been able to convince their clients that what is right for them (physical gold, silver and PM stocks) is wrong, and what is wrong for them (investing in global developed stock markets) is right.   Why else would anyone stay invested in the US S&P 500, an index, that from 2001 to the start of 2012, was still in the red (not even accounting for the effects of inflation), but for one’s blind obedience to one’s investment adviser that sells his clients on that moronic 100-year chart of US stock returns that shows an upward progression of US stocks over an entirely irrelevant 100-year period, and keeps telling his clients to be patient, because the “US market, in the long-run, has always returned a phenomenal yield”? So here is how investment advisers, all over the world, convince their clients to ignore a chart, that in plain sight, tells them that being invested in gold & gold stocks (and silver & silver stocks) for the last 12 years over any of the developed broad stock market indexes in the world was clearly the unequivocal correct decision.   Below are the four methods global investment bank investment advisers employ to convince their clients to keep doing what is best for himself and his firm (earning the firm management fees) and what is worst for themselves (degrading their investment portfolios and wealth):   (1) Frame stock market and PM stock volatility in a biased, skewed and unforthcoming manner that sells their mission while ignoring reality. For example, when the S&P 500 index crashed, US investment advisers used the bounce from 666.79 in March, 2009 to a high of 1219.80 in April, 2010 to falsely promote the “soundness” of the US stock market like ravenous hyenas that had stumbled upon an abandoned lion kill. In other words, they ignored the “bad” volatility of a 57.69% crash to take the S&P500 down to 666.79 level and repeatedly promoted the fact that the 82.94% increase in the S&P500 was “one of the best in history” over and over and over again on television, radio and newspapers, even though the S&P 500 has still failed to regain its previous high of 1576.09 prior to the crash in October of 2007. Furthermore, though gold stocks had crashed too during this time, all global bank advisers absolutely ignored the much more significant 343% increase of the HUI gold mining index between October 24, 2008 from 150.27 to a high of 516.16 on December 2, 2009. Forget that over this same time period, gold stocks outperformed the US S&P 500 index by 313%. How many people knew that gold stocks rose 343% during this time? Probably less than 1% of all investors. The focus of global investment advisers is to bury statistics like this that compete with their precious legalized casinos called stock markets and to keep their clients invested in their legalized casinos that are stacked against their clients even when far better opportunities exist.   (2) Frame performance in a manner that again sells only their desire to keep their clients invested in global stock markets and keeps the management fees rolling in. For example, there have been tons of articles written over the last 3-years that have titles like “What’s Wrong With Gold and Gold Stocks?” and “Why You Should Not Invest in Gold or Gold Stocks”. Commercial investment advisers are amazingly keen to talk about holding on to stocks for a long period of time because they state that one can’t judge performance over a 2-3 year period when stocks are not performing. Yet when broad stock markets go through flat periods, as the US stock market has been trapped in a 12-year period now with virtually no gains, you will never ever, not once in a blue moon, not in a million years, see a blizzard of articles shouting, “What’s Wrong With the US Stock Market!" Yet, bankers ensure that the mass media is flooded with articles about flat or poor performance of gold and silver stocks during the past three years to keep their clients away from PM stocks and they harp incessantly about this matter while completely ignoring multi-year trends in gold and silver mining stocks and keeping this information buried as well. So let’s look at both asset classes and compare performance over a reasonable 12-year investment period, not the ridiculous 100-year chart investment advisers are so keen to use. If one looks at a reasonable 12-year period between 2001 and 2013, the S&P 500 has not even returned a piddling 9% during this period, while gold has returned a whopping +524.77% (silver also returned a phenomenal yield over this same period as well). And what about gold stocks even when including the very flat last three years of performance? An almost unfathomable +1009.86% return when compared to the US S&P 500’s anemic return of 8% and change.   (3) Sell rubbish diversification strategies as “expert” advice when it is the worst advice in the world. A great many people are afraid to concentrate their assets in gold and silver, among the best performing assets of the last 12 years, because for decades, the commercial investment industry has pounded into their brains that anything but diversification when it comes to investing is unsafe, unsound and risky. Yet diversification is a rubbish strategy used by all commercial investment advisers precisely because they lack the expertise and knowledge to know how to concentrate a portfolio properly without excessive amounts of risk. If you have the expertise, you can utilize concentration without increasing the risk of a portfolio. That’s why for years, we’ve been advocating our clients to invest very substantial amounts of their portfolio into physical gold and physical silver because frankly, despite the notorious volatility of gold and silver, we just didn’t consider gold and silver risky when they were respectively $560 a troy ounce and $9 a troy ounce. In fact, every year for the past 12 years, gold and silver has fallen, at some point during each year, to price ranges that marked solid entry prices that were low-risk, high-reward. The artificial banker-created volatility through manipulation of gold and silver prices ensured this. A recent study by Nobel Laureate Daniel Kahneman tracked a group of 25 wealth advisers/portfolio managers and the variance of their portfolio yields over an 8-year period. At the end of his study, Kahneman stated that he was “shocked” to discover almost no variance in the portfolio performance over the group of managers, simply because he believed that portfolio management was a task that depended upon skill and expertise. Consequently, Kahneman expected wide-variance among the managers as far as performance yields over an 8-year period were concerned. Instead, he discovered that the variances among the performance yields suggested that portfolio management was not a skilled job but one that nearly entirely revolved around blind luck. My first reaction to Kahneman’s study was that he should have started his study by sitting in an office of Goldman Sachs or JP Morgan for 3-months and he would have learned within 3-months what it took him 8-years to conclude - that Portfolio Managers have no skill and that they all use the terrible strategy of diversification to cover up their severe skill deficiencies rather than diversification being a strategy that allows them to demonstrate their skill. How many US clients were protected by the strategy of diversification in 2008 when US markets collapsed by 38.50%? By the anecdotal information I gathered, all my contacts at the big US global investment firms told me that nearly all their clients were down the same 35% to 40% that year as the S&P 500 Index. Therefore, diversification did nothing but assure that nearly all clients suffered the same uniform losses as the major global developed indexes that year. In fact, diversification is a protective strategy embraced by the global investment industry as insurance against "client flight". In other words, if all client portfolios show remarkably similar losses across multiple commerical investment firms during poor years of stock performance, the risk of client flight is small. On the contrary, we at SmartKnowledgeU, have always taken the strategy of concentration over diversification, and in 2008, though it was a nominal gain, we still managed to yield nominal positive returns in our newsletter investment portfolio despite massive losses in all developed global stock markets. Massive outperformance can, and often, will be the result when skill and expertise, instead of luck, is applied to investment strategies. If concentration is so dangerous, and if diversification is a far superior strategy as nearly all investment advisers claim, then it may be possible for one fluke year to occur. But it is near impossible for five fluke years to occur. However, we at SmartKnowledgeU have been concentrating our Crisis Investment Opportunities portfolio since mid-2007 when we first launched, every year now for more than five years. Over that 5-½ year period, we’ve outperformed the S&P 500 by +161.95% and even outperformed the HUI gold bugs index by +120.80% due to the strategies we use to take advantage of the banker-induced volatilty in gold and silver markets. So much for diversification and buy & hold being wise investment strategies.   (4) Sell “volatility” as “dangerous & risky” even though this simply is not true. The reason some of you may be shocked by the chart I’ve presented above is not only due to the tactics of #1 to #3 employed by the global investment industry, but also because of one additional key factor. Many of you may think that gold & gold stocks are way more volatile than my chart above shows, and you would be correct. I’ve only plotted the beginning price level of each asset above at the beginning of each year to smooth out all the interim volatility, so that everyone can clearly see the trends of each asset, even in the notoriously volatile gold (& silver) mining stocks. The reason I’ve stripped out the volatility in the above chart is because anyone that has studied the price behavior of gold & silver assets knows that Central Banks and bullion banks deliberately introduce volatility into gold & silver assets to intimidate gold & silver newbie investors into terrible decisions of selling all their gold & silver assets, or to scare off potentially new gold & silver buyers from ever buying. Though a commercial investment adviser would never tell you this secret, the evidence of this is overwhelming and since I’ve blogged many times about this very topic over the past 7 years, I’m not going to go into detail about the mechanisms by which the banking industry deliberately creates volatile prices in gold and silver assets in this article. However, since the banking industry has already sold the masses, hook, line and sinker, on the very false mantra that “volatility = risk”, by artificially and deliberately causing short-term volatility every year in gold and silver assets, commercial investment advisers can show their clients charts of gold, silver and mining stocks with all intra-day, intra-month or intra-year volatility, and keep convincing their clients that gold and silver are the riskiest assets in the entire investment universe while convincing them that broad stock market indexes are the safest arenas in which to invest, when indeed, the exact opposite has been true for 12 years, and will likely be true for the next decade as well. Sure, one has to understand how and why the bankers create volatility in gold and silver assets to ensure that one enters these assets at low-risk, high-reward price points instead of high-risk, low-reward price points in order to be successful, but anyone that has studied gold and silver price behavior and understands how bankers manipulate gold and silver prices should now have the expertise to provide this guidance and help novice gold/silver investors navigate through all the rubbish manipulative schemes of bankers. If one doesn't understand what drives gold and silver prices and one enters at a high-risk, low-reward entry price, then certainly, one could have been taken to the cleaners after banker conducted raids against gold and silver executed in the paper markets, despite what the above chart illustrates. In addition, bankers also attempt to keep people out of buying physical gold and silver and PM mining stocks by painting charts to drive and intensify fear of gold and silver collapses during their multiple, annual banker raids on gold and silver prices. Every year, after there is intense short-term volatility in gold & silver in the form of a 3-5% drop in gold and/or silver in just a couple days, more than a handful of technical chartists will come out of the woodwork to predict massive collapses of silver and gold. Last year, when these situations occurred, more than a few chartists unnecessarily stoked fires of panic by predicting imminent collapses of silver to $20 an ounce and gold back to $1200 an ounce (or even lower). And every year, these predicted collapses of a gold “bubble” and silver “bubble” never materialize. But these false predictions gain enough publicity to keep many too scared from buying their first ounce of physical gold, physical silver or their first PM mining stock. Again, remember that bankers deliberately paint these gold and silver charts to give the appearance of an imminent collapse in prices even though the underlying, undiscussed fundamentals of the physical bullion world often directly contradict the price action of gold and silver during banker-executed raids on the PMs. This is why I have maintained for many years that technical analysis in gold and silver (and even in the highly rigged stock markets) is quite useless if conducted in a vacuum. However, if one uses technical analysis in conjunction with analyzing the underlying fraudulent mechanisms of what is causing great volatility in gold & silver markets, then one is much more likely to accurately assess these rapid declines in gold and silver price as buying opportunities as opposed to fostering clients to panic sell their PMs like fleeing lemmings off a cliff's edge.   As Nobel Laureate Daniel Kahneman recently discovered, and as we’ve been stating at SmartKnowledgeU for nearly a decade now, the entire financial industry is built upon deception and rigging of markets. Their entire existence as ongoing, viable entities is based upon the creation and maintenance of an illusion among all their clients that they know what they are doing even though they do not, and even though they have recommended the same course of action for the past 12-years that has greatly failed. As long as the commercial investment industry can keep this illusion going, they can keep convincing their clients that gold and gold stocks (as well as silver) are the riskiest investments ever and simultaneously prevent their clients from realizing the simple truth self-evident in my one chart above and escaping the inertia of their poor advice.   Furthermore, since the conditions that launched this present gold & silver bull are even stronger and more favorable today than at the start of this PM bull, the reasons to be invested in gold (silver) and gold stocks (& silver stocks) are even stronger today than they were 12 years ago. In conclusion, ignore the simplicity of the above chart at grave risk to your own future financial health and security.     About the author: JS Kim is the Founder & Managing Director of SmartKnowledgeU, a fiercely independent investment research & consulting firm with a mission of education and helping Main Street beat the corruption of Wall Street. SmartKnowledgeU was the first company in the west to move to a gold standard of pricing, a pricing mechanism to which the firm has remained firmly committed, even when gold prices have been moved lower by bankers as in recent times. Currently, we are offering a 5% to 10% discount on all SmartKnowledgeU services until the end of January only, a discount that when combined with our significant discount in prices due to current lower gold prices, will almost assuredly mark our lowest prices of the year for 2013. Follow us on twitter @smartknowledgeu.

16 января 2013, 17:38

Ike Awgu: There's No Ban-Daid Solution For Assault Weapons, Obama

President Obama will be making a public address on Wednesday to discuss the recommendations brought forward by Vice President Biden's task force on gun violence. Many suspect that a new ban on assault weapons will be part of his proposal. If so, be prepared for the fix that will fix nothing. And make no mistake, the President knows it. Acknowledging reality is not an endorsement of reality; so let's acknowledge some facts I don't endorse: the United States cannot prevent people from crossing its borders illegally. It cannot prevent drugs from entering its borders illegally. It cannot prevent underage Americans from acquiring alcohol illegally or for that matter, acquiring virtually anything that is illegal for which there is significant and broad demand. Despite this many Americans, and Canadians too, believe that an assault weapons ban will actually prevent Americans from obtaining "assault weapons" or could be a panacea for mass shootings. There are at least 2,446,294 domestically produced AR-15 assault rifles in the United States. If you take into account foreign made AR-15 models, that number skyrockets to at least 3,261,725. Any proposed ban would have to grandfather in this enormous number of rifles, unless of course the plan is confiscation, which would lead to more bloodshed than was witnessed in Connecticut. This is the AR-15 model alone mind you, not the equally popular AK-47 or countless other models that are just as lethal and also semi-automatic. Draining this swamp is near impossible. The problem with bans is that capitalism and the supply and demand cycle are smarter than government -- so long as sufficient people desire assault rifles a ban on assault rifles will enjoy the same success as the bans on marijuana, cocaine and handguns enjoy currently enjoy. And such consideration about the effectiveness of a potential assault weapons ban exists most principally in another universe -- where the physical laws of politics operate sufficiently differently as to allow such a ban to even be possible -- because the United States in this universe and at this present time is not such a place. Approval from Congress for an assault weapons ban will not happen. The President knows this, which is why much of what we will hear on Wednesday will ultimately be about reassuring his base and a slightly broader group of Americans that he tried to do something. That his administration at least made an effort -- an effort that when it fails will be blamed on the NRA and Republicans, who will be portrayed as cold-hearted, obstructionists in reporting that will dominate the news cycle right up to the debt limit talks, where Republicans look even worse. Although many Canadians are disturbed by guns, its important to understand that many Americans view them as heroic possessions. Many AR-15's were given out as Christmas presents last year, the way Canadians give out hockey sticks. Prohibition against a manufactured good this socially acceptable and this widely in demand cannot hope to be effective. Demand always wins -- gun manufacturers will spend time and money (they've done it before) reworking and renaming the rifles before they sell them to the exact same public. What we're most likely to hear from the President, aside from an assault weapons ban, will be a federal registry of all assault weapons (which is as likely to pass through Congress as this humble writer is likely to be crowned the King of Chicago), the restriction of high-capacity magazines, registration of ammunition sales (perhaps with background checks) and improved, coordinated screening for mental illness or criminal records at gun shows and elsewhere. I expect to hear a cocktail of suggestions for decreasing gun violence -- legislative solutions such as prosecuting people who lie on applications, mental health initiatives to ensure the psychologically ill receive treatment and general prevention that focuses on cultural issues and the promulgation of violence. If the Obama administration is to use this moment in history to its utmost potential, they will focus more on the latter of these solutions than the former. Congress is more likely to agree that background checks, cultural problems and mental health can be improved than pass an assault weapons ban, though there may be some movement with the restriction of high- capacity magazines. But let there be no confusion -- no one serious expects an assault weapon ban to occur. It's theatre for the voters. Let's hope this moment in history isn't squandered. var src_url="https://spshared.5min.com/Scripts/PlayerSeed.js?playList=517641985&height=411&width=570&sid=577&origin=SOLR&relatedMode=2&relatedBottomHeight=60&companionPos=&hasCompanion=false&autoStart=false&colorPallet=%23FFEB00&videoControlDisplayColor=%23191919&shuffle=0&continuous=true"; src_url += "&onVideoDataLoaded=HPTrack.Vid.DL&onTimeUpdate=HPTrack.Vid.TC"; if (typeof(commercial_video) == "object") { src_url += "&siteSection="+commercial_video.site_and_category; if (commercial_video.package) { src_url += "&sponsorship="+commercial_video.package; } } document.write('' + 'ipt>');

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03 ноября 2012, 07:27

Romney Robocall Warns Christians Obama Threatens 'Our Religious Freedom'

WASHINGTON -- Mitt Romney's campaign, in a last-minute robocall, warns voters that President Barack Obama is hostile to the Christian faith. The robocall, paid for by Romney's campaign, is explicitly aimed at Christian voters. A voter in Fairfax, Va. received it on Friday night, and passed it along to Shaun Dakin of StopPoliticalCalls.org. The spot reminds the listener of Obama's controversial comment in 2008 that some Americans, frustrated by their economic situation, "cling to guns or religion." Script of the robocall: Christians who are thinking about voting for Obama should remember what he said about people of faith: "They ... cling to guns or religion." And remember when Obama forced Christian organizations to provide insurance coverage that was contrary to their religious beliefs? That's the real Barack Obama. That's the real threat to our religious freedom. Mitt Romney understands the importance of faith and family. That's why so many leaders of the Christian community are supporting Romney. They know we can't underestimate the threat Barack Obama poses to our faith, our values, our freedom. The robocall language is stronger than what Romney himself has used on the trail, although the campaign went after Obama during the controversy over whether religiously affiliated groups should be required to cover the cost of contraception in their health care plans at no charge to the employee. "President Obama used his health care plan to declare war on religion, forcing religious institutions to go against their faith," said the narrator in a Romney campaign ad in August. "Mitt Romney believes that’s wrong." Listen to the robocall: var src_url="http://pshared.5min.com/Scripts/PlayerSeed.js?playList=517524486&height=411&width=570&sid=577&relatedMode=2&relatedBottomHeight=60&companionPos=&hasCompanion=false&autoStart=false&colorPallet=%23FFEB00&videoControlDisplayColor=%23191919&shuffle=0&continuous=true"; src_url += "&onVideoDataLoaded=HPTrack.Vid.DL&onTimeUpdate=HPTrack.Vid.TC"; if (typeof(commercial_video) == "object") { src_url += "&siteSection="+commercial_video.site_and_category; if (commercial_video.package) { src_url += "&sponsorship="+commercial_video.package; } } document.write('' + 'ipt>');

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15 сентября 2012, 01:01

Please Donate to the #S17 Food Fund

We need your help to feed occupiers on #S17. Please consider making a donation to the #S17 Food Fund for Occupy Wall Street. View Progress var WePay = WePay || {}; WePay.load_widgets = WePay.load_widgets || function() { }; WePay.widgets = WePay.widgets || []; WePay.widgets.push( { object_id: 87724, widget_type: "donation_campaign_progress", anchor_id: "wepay_widget_anchor_505399a34cae8", widget_options: { no_dialog: "true", button_text: "View Progress" } }); if (!WePay.script) { WePay.script = document.createElement('script');WePay.script.type = 'text/javascript';WePay.script.async = true; WePay.script.src = 'https://static.wepay.com/min/js/widgets.v2.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(WePay.script, s); } else if (WePay.load_widgets) { WePay.load_widgets(); } The Occupy Wall Street Kitchen, lovingly known as “The People’s Kitchen,” is a revolutionary space for breaking bread and building communities that is open to everyone! From our camp kitchen in Liberty Plaza, we feed the 99%, providing a space for occupiers, bankers, farmers and the homeless to share delicious meals and good conversation. We nourish the grassroots movement to free America from corporate control and create a fairer economic system for hardworking people. We are committed to building a more equitable society and furthering the food justice movement by changing patterns of consumption in New York City and beyond. Through our work at OWS, we unite local farmers and small businesses with families and communities that sustain the movement. Our network of supporters is a diverse group of small businesses, family-run farms, community groups and individuals who share a common vision of a better, more sustainable America. In farming, cooking, serving and eating, we are imagining a new American Dream. Let's do this together! Find out more about the kitchen here: http://www.owskitchen.org/ All money is being raised by The Occupy Solidarity Network for the #S17 effort in NYC. The Occupy Solidarity Network was founded in 2011 to raise money for, and to support, direct political action across the United States (for now). Contributions are tax deductible. Click Here to make a donation.

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13 сентября 2012, 01:09

Mark Gongloff: Crisis Cost: $12.8 Trillion And Counting

The 2008 financial crisis cost the U.S. economy at least $12.8 trillion, a new study found -- and that's a "very conservative number," according to the authors. The study, timed to coincide with the fourth anniversary of the Lehman Brothers bankruptcy, is a direct counter to the banking industry's relentless warnings of the potential costs of new financial regulations. The cost of letting the banks wreck the global economy again is far, far higher. The crisis-cost estimate, generated by Better Markets, a non-profit group lobbying for financial reform, is only a measure of actual and potential lost economic growth due to the crisis. It does not include many other costs, including the costs of extraordinary government steps taken to avoid "a second Great Depression." It does not include unquantifiable costs like the "human suffering that accompanies unemployment, foreclosure, homelessness and related damage," the authors noted. The study also does not include figures related to any damage done to American productivity by long-lasting, widespread unemployment, which is eroding the ability of Americans to earn money and posing a threat to future economic growth. "Lower growth means, among other things, less innovation and, therefore, less technological progress," the study's authors wrote. "The consequences of such losses to a society are indeterminable, but potentially very far-reaching and long-lasting." The study mentions, but leaves out of its $12.8 trillion estimate, the $11 trillion or so in household wealth that was vaporized by the crisis and an estimated $8 trillion hole that might be blown in the federal budget deficit between 2008 and 2018 as a result of the crisis. Banks would like you to know that they are suffering, too, of course. The stock prices of the biggest five U.S. banks have lost more than $500 billion in market value since the crisis began. The industry has been docked more than $2 billion in crisis-related penalties. And the banks constantly warn that new regulations could disrupt financial markets and slow economic growth. The Better Markets study points to one frequently-cited estimate, that the "Volcker Rule," which prohibits banks from proprietary trading, could cost the bond market $315 billion in "liquidity" on its own. The banking industry's whiner-in-chief, JPMorgan Chase CEO Jamie Dimon, on Tuesday warned again of the risks of too much reform. Here's DealBook: The United States, he added, has the "best, widest, deepest and most transparent capital markets in the world." Cautioning against needless reform, Mr. Dimon said, "Let's make sure we keep that before we do a bunch of stupid stuff that destroys that." The man who just oversaw a $6 billion trading loss on credit derivatives continues to lecture the rest of us against doing a bunch of stupid stuff. In any event, you can stipulate that Dimon has a point -- there are costs to reform. But it is impossible to argue that these costs are anywhere close to the horrific damage the banks have shown they can do to an economy when they're allowed to do whatever they want to do. Banks might also quibble with Better Markets' $12.8 trillion figure, which is admittedly a little hard to wrap your head around. One part of the number is easy to understand -- it's the amount of potential gross domestic product that has already been lost due to the crisis and recession. A second part is based on economic models, predicting future lost GDP through 2018. That's obviously squishier, as economic models helped us into this mess in the first place. But together these two components make up $7.6 trillion of the $12.8 trillion cost estimate. The other $5.2 trillion cost is a measure, again generated by economic models, of how much economic damage we avoided through stimulus packages and Federal Reserve rate cuts and bond-buying and emergency lending and the like. That one's even squishier, because you're hanging a number on a counterfactual. But given all of the costs this study does not even try to estimate, $12.8 trillion is arguably in the ballpark. And the cost is clearly larger than any costs we might incur by trying to keep banks from causing such damage again. Also on HuffPost: var src_url="http://pshared.5min.com/Scripts/PlayerSeed.js?playList=39602782&height=411&width=570&sid=577&relatedMode=2&relatedBottomHeight=60&companionPos=&hasCompanion=false&autoStart=false&colorPallet=%23FFEB00&videoControlDisplayColor=%23191919&shuffle=0&continuous=true"; src_url += "&onVideoDataLoaded=HPTrack.Vid.DL&onTimeUpdate=HPTrack.Vid.TC"; if (typeof(commercial_video) == "object") { src_url += "&siteSection="+commercial_video.site_and_category; if (commercial_video.package) { src_url += "&sponsorship="+commercial_video.package; } } document.write('' + 'ipt>');

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25 августа 2012, 03:03

Bills Seek To Help Students Avoid Too Much Debt

When Steve MacIntyre connected with a recruiter at the Art Institutes about enrolling in online classes to work toward a bachelor's degree, he told them he had no money to pay for school and would probably need assistance with any paperwork thrown his way. He says the for-profit art college chain told him no problem and it could help. "I allowed them to represent me for filling out financial paperwork, so they were able to take out loans and grants in my name," MacIntyre told The Huffington Post. It was a choice that the 40-year-old now calls "foolish." With only a high school diploma, MacIntyre had struggled to find work for a few years. In the 2004-05 term, he began taking Art Institutes classes. By the time he completed an associate's degree in graphic design, he owed $60,000 in private and government loans. He tried to finish the work for a bachelor's degree, but wasn't able to obtain all the needed loans and had to drop out a few classes shy. He's now spent most of a decade unemployed or underemployed. He receives frequent calls from Sallie Mae, asking for more than $800 a month in payments, MacIntyre said. But he can't pay. "I'm sure I'm going into default soon," he said on Thursday. MacIntrye is angry. He said he feels like he was "thrown to the wolves." Had he known the financial hole he would fall into, he would have searched for a cheaper means to obtain more training. He's continuing to look for full-time work and "trying to stay positive, but it's difficult," he said. Now, some lawmakers and officials in Washington are arguing for more disclosure about student loans to prevent individuals like McIntyre from getting in over their heads, an idea that consumer and student advocates have been pushing for the past several years. Speaking at Loyola University in Chicago on Monday, Sen. Dick Durbin (D-Ill.) said, "Most students just sign. They have no idea what they're getting into. They lack life experience. This is not an arms-length transaction between two parties who each understand the terms." Along with Sen. Tom Harkin (D-Iowa), Durbin has introduced the Know Before You Owe Act, which would require schools to counsel students before they take out a private loan and inform them if they have any untapped federal loan eligibility. Sen. Al Franken (D-Minn.) has put forward similar legislation, the Understanding the True Cost of College Act, which would require disclosure by higher education institutions and lenders that federal student loans offer generally more favorable terms and repayment options than private loans. It would also require the Education Department to detail interest rates, fees and expected monthly repayment amounts for federal loans. Franken's bill has attracted support from Sen. Chuck Grassley (R-Iowa) and several other Democrats. Student finance experts like Mark Kantrowitz, publisher of FinAid.org, argue that such disclosures could help save students from taking on excessive financial burdens. Kantrowitz, who recently reviewed debt trends in a paper titled "Who Graduates With Six-Figure Student Loan Debt?," said students need to know what their repayments are going to look like. "Colleges should tell students when they are borrowing excessively as compared with their peers and/or absolute standards concerning affordable debt," Kantrowitz wrote in his study's recommendations. A recent report by the Consumer Financial Protection Bureau and the U.S. Department of Education found that during the past 10 years, many students took out private loans before low-cost federal loans. In the 2007-08 academic year, half of all students with loans from private lenders had not tapped all the federal aid available to them. The CFPB found that 42 percent of undergraduates at for-profit colleges, like the Art Institutes, took out private student loans in 2008 -- a significantly higher proportion than those at public and private nonprofit colleges. The CFPB report concluded that too many students were taking on more debt than they could likely repay, similar to what happened with the subprime mortgage crisis. Jacki Muller, a spokesperson for the Art Institutes' parent company Education Management Corporation, said its schools already go beyond current disclosure requirements. For instance, Muller said, they encourage students to "exhaust all other federal and state provided methods of financing their education before applying for private loans." "We agree that the student debt crisis in our nation must be addressed," Muller said. "Current laws and regulations permit students to borrow well past the cost of tuition and fees up to the maximum loan limits set by Congress, and while we cannot limit the amount of debt a student incurs, we make every effort to provide access to resources that encourage responsible borrowing, repayment of loans and avoiding excessive debt." There have been a few first steps toward more comprehensive student loan disclosure. The Higher Education Opportunity Act of 2008 required better disclosure of fees on private loans. Earlier this year, the Obama administration launched the college cost "shopping sheet," meant to be a guide to the cost of attendance at and graduation rates for universities around the country. But colleges' provision of data for the shopping sheet is only voluntary at this point. Moreover, a for-profit colleges trade group, the Association of Private Sector Colleges and Universities, is pushing back against the Education Department's latest attempts at securing better disclosures, particularly against the effort to make for-profit colleges reveal statistics indicating whether their students are taking on huge debts they likely cannot repay. In the absence of new legislation anytime soon, Durbin hopes private lenders will begin to fully certify students' educational progress with their schools, as laid out in his bill, before issuing student loans. He sent letters to the Consumer Bankers Association, the Credit Union National Association, the National Association of Federal Credit Unions and the Education Finance Council in August. The senator said in a statement, "The student loan debt bomb is no longer something we can ignore." Are you struggling to pay for college? Trapped by student debt? Want to share your story? Send an email to [email protected] Watch the video below for a HuffPost Live discussion on how students handle debt. var src_url="http://pshared.5min.com/Scripts/PlayerSeed.js?playList=517453988%2C517453469%2C517443671%2C517454016%2C517189250&height=411&width=570&sid=577&relatedMode=2&relatedBottomHeight=60&companionPos=&hasCompanion=false&autoStart=false&colorPallet=%23FFEB00&videoControlDisplayColor=%23191919&shuffle=0&continuous=true"; src_url += "&onVideoDataLoaded=HPTrack.Vid.DL&onTimeUpdate=HPTrack.Vid.TC"; if (typeof(commercial_video) == "object") { src_url += "&siteSection="+commercial_video.site_and_category; if (commercial_video.package) { src_url += "&sponsorship="+commercial_video.package; } } document.write('' + 'ipt>');

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27 июля 2012, 16:12

He Claims His Father Stole His Identity

When Frank Deyoub and his wife were thinking about names for their newborn son, one moniker was completely off the table: Frank Deyoub. "If I named my son after me, he would have all the issues I'm having," says 35-year-old Deyoub, who lives in Royal Oak, Mich., with his wife and now 8-year-old son. "I've gotten denied work, I've been embarrassed. It's made people in my own family look at me differently." The problem? Deyoub's credit report, the data file of all the money he's borrowed or tried to borrow during his adult life. Most American consumers have a credit report compiled by each of three large private ratings companies: TransUnion, Equifax and Experian. Banks, landlords and even employers and use these reports to decide whether or not to trust someone with almost all the critical pieces of an adult's financial life: a job, credit card, auto loan, mortgage. At best, a blemished credit report translates into more expensive borrowing costs; at worst, it means a lost job, car or home. For Deyoub, who works at a medical equipment company, the distress is devastatingly personal. His descent into credit report hell began 15 years ago, when he claims his father, Frank Scaramuzzino, stole his identity and used Deyoub's unblemished financial record to buy two houses and three cars. Around the same time, a former high school classmate, a drug user, allegedly began using Deyoub's name when the cops arrested him. Since then, some credit companies have sent Deyoub reports that list his classmate's criminal history as Deyoub's, or that attributed his father's purchases and debts to him. Scaramuzzino, who received a two-year prison sentence for federal tax evasion in 2009, told The Huffington Post that his son's version of events is inaccurate, that "there was never identity theft or fraud." He acknowledged that some of his own financial information made it onto his son's credit report, but said that may have been due to a clerical error, since the two men had the same name at the time. (Frank Deyoub legally changed his last name from Scaramuzzino in 1998.) As for Deyoub, he says he doesn't have much of a relationship with his father anymore. Still, Deyoub finds that some credit-reporting and background-check companies continue to mix up the two of them. "Someone's not really thoroughly checking this," Deyoub told HuffPost. "This is supposed to be gospel of who you are and how you handle things." Last week Deyoub and countless other Americans with credit report horror stories got a little message of hope when the Consumer Financial Protection Bureau announced that it would oversee the credit reporting industry as of September 30. Previously, the credit reporting companies have been regulated by the Federal Trade Commission under the Fair Credit Reporting Act. With the CFPB's new role, it is the first time that a single government agency will have complete access to credit bureaus and have some enforcement authority. The CFPB, a one-year-old agency founded in the wake of the financial crisis to look out for consumer interests, said it will improve the way bureaus address accuracy. The agency will monitor the accuracy of information furnished to credit reporting companies, and will look at how reporting companies assemble that information. The CFPB said it would also examine how the bureaus handle corrections. Over the years, Deyoub's tried to fix errors on his credit reports. Yet they persist. TransUnion lists Deyoub's birth year as 1953 (it's 1977). TransUnion doesn't have Deyoub's current address on file, though he's lived there more than a year. His TransUnion report also shows two liens of indeterminate origins, but that Deyoub believes are connected in some way to his father. [CQ] Deyoub says he's written TransUnion to try and set the record straight. He's been able to clear up some of the mistakes with some of the companies -- which he says took months of back-and-forth correspondence -- but other errors have proven harder to stamp out. TransUnion said it does not comment on individual cases specifically, but said consumers can submit complaints through the company's website. There's wide disagreement on the accuracy of credit reports. Studies from consumer groups have shown 25 percent to as many as 80 percent of credit reports contain some error that may or may not affect one's credit score, the number used by the big agencies to rank a consumer's credit-worthiness. The credit bureaus say the numbers are nowhere near that high. The Consumer Data Information Association, a trade group for the credit reporting industry, points to statistics published in May 2011 by the Policy & Economic Research Council. That study, which was underwritten by the three biggest reporting bureaus, showed less than 2 percent of credit reports had errors that led to a score change of 10 points or more. Norm Magnuson, a spokesman for the CDIA, said credit bureaus update consumers' files every 30 days and that lag time can skew the error rate higher. But consumer advocates point out that even a very low error rate, like that cited by the industry, still affects millions of consumers. Sometimes the error can be as simple as one name sounding like another. Sandra Cortez, a Colorado accountant and grandmother, learned this the hard way in 2005, when a credit check at a local car dealership returned unexpected results: Cortez was supposedly on a government watch list of individuals suspected of having ties to terrorism. In reality, the person on the watch list was a different woman named Sandra Cortes Quintera, but Cortez didn't learn of the mistake until she'd spent a few anxious hours thinking she was about to be arrested by the FBI. Pamela Banks, senior policy counsel for nonprofit consumer organization Consumers Union, said errors persist because of lack of enforcement by regulators, lack of investigation into errors by reporting companies, and consumers themselves not doing enough to monitor their own reports. One reason some errors are perpetuated is because of how the bureaus match information from creditors with credit files, according to Chi Chi Wu, an attorney with the National Consumer Law Center. Wu said that some data-matching formulas only require seven out of nine digits of a Social Security to match, which can lead to credit files that contain information from more than one person. "[Credit bureaus] don't undertake meaningful investigation, and automate everything in order to save money," said Wu. There are approximately 3 billion credit reports issued each year by the three biggest reporting companies and more than 36 billion updates made to consumer credit files, according to the CFPB. Tracking all that information is a herculean task, to be sure. But consumer advocates brush off any suggestion that volume has anything to do with accuracy. But many consumers are not doing their part, either. Less than 40 percent of Americans actually bothered to take a look at their own reports last year, according to the National Foundation for Credit Counseling. "People chase their credit scores, but they skip the first step and obtain a credit report," said Gail Cunningham, director of the NFCC. Everyone can get a free report from each of the three main bureaus each year at AnnualCreditReport.com. Have you had trouble correcting an error on your credit report? Or has an error on your credit report prevented you from obtaining a loan? Please share a comment or email [email protected] var src_url="http://pshared.5min.com/Scripts/PlayerSeed.js?playList=155735638&height=411&width=570&sid=577&relatedMode=2&relatedBottomHeight=60&companionPos=&hasCompanion=false&autoStart=false&colorPallet=%23FFEB00&vcdBgColor=%23191919&shuffle=0&continuous=true"; src_url += "&onVideoDataLoaded=HPTrack.Vid.DL&onTimeUpdate=HPTrack.Vid.TC"; if (typeof(commercial_video) == "object") { src_url += "&siteSection="+commercial_video.site_and_category; if (commercial_video.package) { src_url += "&sponsorship="+commercial_video.package; } } document.write('' + 'ipt>');

09 августа 2011, 11:50

Махинации на рынке драгметаллов. Часть 1.

Консультант по инвестициям и основатель консалтинговой фирмы SmartKnowledgeU Джей Эс Ким (JS Kim) рассказывает в своей статье о махинациях на рынке драгметаллов по сдерживанию цен. Он также считает, что цена на золото может ещё легко удвоиться. Тот, кто знаком с моими статьями о золоте и серебре за последние шесть лет, знает, как я тогда говорил, что золото было дешёвым при цене 500$, 600$, 700$, 1000$ и 1200$ за унцию. Тоже самое я говорил и про серебро. Сегодня повторю свои слова ещё раз и скажу, что золото всё ещё дешёвое даже при цене 1500$ и 1600$, а серебро остаётся дешёвым в диапазоне 40$, так как самое большое увеличение цен на золото и серебро, а также на акции золотодобывающих компаний ещё не произошло. Этого можно ожидать в ближайшие 4-5 лет. Это ещё не означает, что золото и серебро не будут в будущем иметь коррекций. Конечно у них будут коррекции цен, ибо это свойственно драгоценным металлам. За последние годы я очень много писал на эту тему, так как считаю, что тот, кто не владеет или не планирует владеть физическим золотом и серебром, тот просто безумец.  Сотни миллионов инвесторов по всему миру поддались влиянию пропаганды западных банкиров и сознательно не стали инвестировать в физическое золото и серебро. Любой инвестор должен понять одну из первых реальностей на рынке золота и серебра — здесь не действует принцип «спроса и предложения». В сегодняшнем финансовом и банковском мире обмана цена на золото и серебро не определяется физическим спросом и физической поставкой этих металлов. Цена на эти драгметаллы устанавливается с помощью искусственных бумажных контрактов на спрос и предложение, которые в основном не обеспечены никаким физическим металлом. Эти факты известны постоянным покупателям физического золота и серебра, но совершенно неизвестны простому обывателю и начинающему инвестору. Консалтинговая и исследовательская компания по товарным рынка CPM Group опубликовала в 2000 г. следующий документ: «С момента начала публикаций Лондонской ассоциацией участников рынка драгоценных металлов (LMBA) ежемесячных данных по торговле драгметаллами участникам рынка стало известно, что ежегодно торгуется в 100 раз больше золота и серебра, чем его производится или используется. Некоторые участники рынка драгметаллов были очень сильно удивлены тому, как вообще была возможна торговля 10-ю млрд. унций золота на основных рынках ежегодно по сравнению со 120 млн. унций общего спроса и предложений, а серебра было продано за год 100 млрд. унций, хотя новые поставки физического серебра составили 628 млн. унций». Теперь становится ясно, какие махинации совершают банки, специализирующиеся на сделках с драгметаллами, на рынке фьючерсов серебра. Эти махинации превышают даже аферу на рынках фьючерсов золота. При простом подсчёте этих цифр видно, что банкиры продавали в 160 раз больше «бумажных унций» серебра ежегодно, чем добывается серебра каждый год на рудниках. Если повнимательнее изучить эти цифры, то манипуляции на рынке драгметаллов становятся ещё более поразительными. В 2000 г. на рынке было доступно 628 млн. унций физического серебра. В 2010 производство серебра на рудниках слегка выросло до 735,9 млн. унций. Правительства «выкинули» на рынок ещё 44,8 млн. унций серебра, вторичное серебро дало дополнительные 215 млн. унций, хеджирование серебра производителями составило 61,1 млн. унций. Таким образом, в 2010 на рынке серебра было доступно около 1 млрд. физического серебра. Однако, промышленное производство, производство фотографий и ювелирное производство поглотили около 78% из этого 1 млрд. доступного на рынке физического серебра. Для инвестиционного спроса, например, для чеканки монет, осталось доступными всего 100 млн. унций. (Источник: Институт Серебра). Не смотря на наличие небольшого количества инвестиционного физического серебра на рынка, были дни, когда на бирже COMEX за 1 минуту продавалось более 250 млн. унций «бумажного серебра», что приводило к резкому падению цен на серебро. Таким образом, становится ясно, что банкиры использовали искусственную поставку контрактов на бумажное серебро, чтобы сбить цены. Более того, банкиры придумали другие инструменты иллюзорной поставки золота и серебра, такие как ETF (биржевые фонды) на золото, GLD, и ETF на серебро, SLV. Оба инструмента GLD и SLV начали использоваться в торговле драгметаллами в 2006 г. Это очень подозрительные инвестиционные инструменты, которые являются частью махинаций на рынке драгметаллов. Они либо вообще не обеспечены никаким физическим драгметаллом, либо обеспечены неаллокированным драгметаллом, на который претендует несколько человек. Мошеннические бумажные инвестиционные инструменты на золото и серебро создают впечатление увеличения поставок физического драгметалла, но в действительности же нет никакого увеличения поставок, а иногда, наоборот, поставки физического металла сокращаются. Банкиры специально создали этот механизм для сдерживания роста цен на золото и серебро, чтобы система бумажных денег работала как можно дольше — система, которая втихую обворовывает каждого человека на этой планете. Продолжить чтение второй части статьи...