Fed Gets More Power, Responsibility
By Luca Di Leo
After fending off most challenges to its independence and winning new powers to oversee big financial firms, the Federal Reserve has emerged from a bruising debate on the overhaul of…
Financial Reform? Hah! US Halts Financial Management Systems; $4 Trillion Still Missing
White House officials point to $300 million spent by the Veteran’s Administration over the past decade on a financial systems project that still isn’t done.
At the Department of Homeland Security, me…
Hauser’s Law
From Wikipedia
In economics, Hauser’s Law is an empirical observation that, in the United States, federal tax revenues since World War II have always been equal to approximately 19.5% of GDP, regar…
Hauser's Law
From Wikipedia
In economics, Hauser’s Law is an empirical observation that, in the United States, federal tax revenues since World War II have always been equal to approximately 19.5% of GDP, regar…
Inflating War
By Thomas Dilorenzo
“One can say without exaggeration that inflation is an indispensable means of militarism,” Ludwig von Mises wrote. “Without it, the repercussions of war on welfare become …
Farewell Evergreen Farm
Evergreen Farm, the finest farm and dairy in my county, announced this week that they are closing and will auction their herd and land. This is in response to the cash flow impact of regulatory requ…
Equities vs. Gold
By Joe Weisenthal
Continue reading the article . . .
Quote du Jour
“He who controls the Spice controls everything!”
~ Dune, by Frank Herbert
Carnicom Institute – Live Webinar
July 22, 2010 – 7PM MDT with Clifford E Carnicom
The Carnicom Institute will hold a live webinar on Thursday, July 22nd, 2010 at 7PM MDT. Clifford Carnicom will be discussing a recent experiment inv…
Yet Another Options Expiration “Surprise”
By Karl Denninger
Since when does the SEC announce that it’s about to make an announcement – about an hour before the market closes the day before options expiration?
There’s clearly biased and then…
Yet Another Options Expiration "Surprise"
By Karl Denninger
Since when does the SEC announce that it’s about to make an announcement – about an hour before the market closes the day before options expiration?
There’s clearly biased and then…
Subdued AgBank Debut Dampens China Fundraising Outlook
By Samuel Shen and Kennix Chim
Agricultural Bank of China’s (601288.SS) $19 billion IPO made a lackluster debut in Shanghai, weighing on the market and underscoring the difficulty other Chinese ban…
Chinese Rating Agency Strips Western Nations of AAA Status
By Ambrose Evans-Pritchard
Dagong Global Credit Rating Co used its first foray into sovereign debt to paint a revolutionary picture of creditworthiness around the world, giving much greater weight …
Identity Theft: Avoiding It If You Can, Surviving It When You Don’t
Read Notes on Guarding yourself from identity theft
Listen to the MP3 audio file
Download the MP3 audio file
by Catherine Austin Fitts
This Thurs…
Money & Markets Charts ~ 7.15.10
View this week’s chart comparisons of gold against fiat currencies, oil and the Dow. Stay tuned for our next Money & Markets segment of The Solari Report tonight, Thursday, July 15, 2010.
Click…
Money & Markets Charts ~ 7.15.10
View this week’s chart comparisons of gold against fiat currencies, oil and the Dow. Stay tuned for our next Money & Markets segment of The Solari Report tonight, Thursday, July 15, 2010.
Click…
Wall Street Reform Clears Congress
By Andy Sullivan and Kevin Drawbaugh
The Congress on Thursday approved the broadest overhaul of financial rules since the Great Depression and sent it to President Barack Obama to sign into law.
B…
Goldman To Pay $550M To Settle Civil Fraud Charges
By Marcy Gordon and Daniel Wagner
Goldman Sachs & Co. has agreed to pay $550 million to settle civil fraud charges that the Wall Street giant misled buyers of mortgage-related investments.
The…
Goldman’s Silent Board
By Richard Teitelbaum
Amid a storm of criticism, government investigations and an SEC suit, the investment bank’s outside directors have failed to speak out.
Greg Palm, Goldman Sachs Group Inc. …
Goldman's Silent Board
By Richard Teitelbaum
Amid a storm of criticism, government investigations and an SEC suit, the investment bank’s outside directors have failed to speak out.
Greg Palm, Goldman Sachs Group Inc. …
Quote du Jour
After having thus successively taken each member of the community in its powerful grasp and fashioned him at will, the government then extends its arm over the whole community. It covers the surface…
Happy Bastille Day!
Bastille Day is the French national holiday which is celebrated on 14 July each year. In France, it is formally called La Fête Nationale (National Celebration) and commonly le quatorze juillet (the…
Shanghai vs S&P 500
By Vincent Fernando, CFA and Kamelia Angelova
Continue reading the article . . .
Shanghai vs S&P 500
By Vincent Fernando, CFA and Kamelia Angelova
Continue reading the article . . .
Small-Business Lending Is Down
By Sewell Chan
The chairman of the Federal Reserve urged banks and regulators on Monday to help the nation’s small businesses get the loans they needed to create jobs.
He also acknowledged that …
California Bankruptcy Court Holds That MERS Cannot Transfer Note For Want of Ownership
The United States Bankruptcy Court for the Eastern District of California has issued a ruling dated May 20, 2010 in the matter of In Re: Walker, Case No. 10-21656-E-11 which found that MERS could no…
The National Bank of Malvern
[Note from CAF: My wonderful bankers at National Bank of Malvern did not tell me about this story published last year. I just found it, so I am publishing it now.]
Not many banks are in a celebrato…
Franklin Sanders on Revitalizing Local Economies
This is an excellent talk that Franklin gave recently in Mississippi. If you want to understand what each community needs to do to create jobs in the United States, this is one for you!
Listen to t…
Resort Opens In Singapore
By Lucy Ballinger
The impressive, boat-shaped ‘SkyPark’ perched atop the three towers that make up the world’s most expensive hotel, the £4billion Marina Bay Sands in Singapore.
Continue reading …
The Con of the Decade
The con of the decade (Part I) involves the transfer of private debt to the public (the marks), who then pays interest forever to the con artists.
I’ve laid out the Con of the Decade (Part I) in o…
Job Growth in U.S. Driven Entirely by Startups
Kauffman Foundation Study
New firms add an average of 3 million jobs in their first year, while older companies lose 1 million jobs annually
(KANSAS CITY, Mo.), July 7, 2010 – When it comes to U.S…
A Debate on Geoengineering: Vandana Shiva vs Gwynne Dyer
Amy Goodman Interview
DemocracyNow! (8 Jul 10)
Supporters of geoengineering have proposed radical ways to alter the planet to decrease the level of greenhouse gas emissions. Proposals include creat…
Public and Private: Restoring a Montana Spring Creek
New York Times
By Verlyn Klinkenborg (8 Jul 10)
A couple of weeks ago, I walked along a spring creek in the upper Madison Valley, just south of the town of Ennis, Mont. As my guide, Jeff Laszlo, expl…
Allstate CEO Says U.S. State, Local Borrowing ‘Out of Control’
Bloomberg.com (7 Jul 10)
Allstate Corp. Chief Executive Officer Thomas Wilson said a surge in borrowing by U.S. state and local governments may trim the value of municipal debt holdings, and called f…
Allstate CEO Says U.S. State, Local Borrowing 'Out of Control'
Bloomberg.com (7 Jul 10)
Allstate Corp. Chief Executive Officer Thomas Wilson said a surge in borrowing by U.S. state and local governments may trim the value of municipal debt holdings, and called f…
US-Backed Loans to Expand Nuclear Power: A Boon for Overseas Jobs?
A report released Thursday finds that all 18 firms lining up for tens of billions in US-backed loans for new nuclear power plants would use overseas jobs to build most of them.
Nuclear power opponent…
Is it Almost Over? BP Will Try to Stop Oil Flow
By Mark Seibel (9 Jul 10)
Washington – In a dramatic turn of events, the Obama administration has given BP the go-ahead to remove the containment cap atop the runaway Deepwater Horizon oil well and r…
Chinese Credit Firm Says US Worse Risk Than China
BEIJING (AP) — A Chinese firm that aims to compete with Western rating agencies declared Washington a worse credit risk than Beijing in its first report on government debt Sunday amid efforts by Chi…
Polanski Ruling – Ramifications Beyond Switzerland
By Richard Winton
The Swiss government’s decision not to extradite Roman Polanski to Los Angeles means the famed director can now travel freely in Switzerland as well as France, where he has citize…
Money & Markets – Week of 7.11.10
The Last Bubble: The Problem of Unresolved Debt in the US Financial System
Jesses Crossroads Cafe (15 July 10)
Fed’s Volte Face Sends The Dollar Tumbling
Telegraph.co.uk (15 July 10)
Demand For Fina…
Money & Markets – Week of 7.11.10
The Last Bubble: The Problem of Unresolved Debt in the US Financial System
Jesses Crossroads Cafe (15 July 10)
Fed’s Volte Face Sends The Dollar Tumbling
Telegraph.co.uk (15 July 10)
Demand For Fina…
Precious Metals – Week of 7.11.10
Goldman Sachs Pushes Gold Hedging, Predicting Falling Gold Price Beyond 2011
Mineweb (15 July 10)
Reg Howe: BIS Swaps Seem Meant to Stretch Out Paper Gold
GATA (15 July 10)
Sprott Plans Physical Si…
Housing & Mortgage Markets – Week of 7.11.10
Homes Lost to Foreclosure on Track For 1M in 2010
Yahoo News (15 July 10)
China Has Been Covertly Funding A Housing Bubble Five Times Larger Than That Of The US: 65 Million Vacant Homes Uncovered
Ze…
Housing & Mortgage Markets – Week of 7.11.10
Homes Lost to Foreclosure on Track For 1M in 2010
Yahoo News (15 July 10)
China Has Been Covertly Funding A Housing Bubble Five Times Larger Than That Of The US: 65 Million Vacant Homes Uncovered
Zer…
Geopolitical – Week of 7.11.10
A Quiet Axis Forms Against Iran in the Middle East
Spiegel OnLine (15 July 10)
Obama Administration Calls For Electronic Health Records By 2015
USA Today (15 July 10)
The “Well Integrity Test” Is a …
Food & Health – Week of 7.11.10
Alzheimer’s Gene Acts on Middle-Aged People, Two U.S. Studies Indicate
Bloomberg (14 July 10)
Guerilla Gardener from Mathieu Young on Vimeo.
The Most Interesting Thing You Will Read This week
HELEN’…
Food & Health – Week of 7.11.10
Alzheimer’s Gene Acts on Middle-Aged People, Two U.S. Studies Indicate
Bloomberg (14 July 10)
Guerilla Gardener from Mathieu Young on Vimeo.
The Most Interesting Thing You Will Read This week
HELEN’…
Life – Week of 7.11.10
10 Ways Our World is Becoming More Shareable
Your Olive Branch (25 June 10)
Science & Technology – Week of 7.11.10
BP Chokes Off The Oil Leak; Now Begins The Wait
Yahoo News (15 July 10)
BP Says Test Shuts Off Oil Leak From Gulf Well
Reuters (15 July 10)
Teens Using Digital Drugs to Get High
Wired (14 July 10)
…
Science & Technology – Week of 7.11.10
BP Chokes Off The Oil Leak; Now Begins The Wait
Yahoo News (15 July 10)
BP Says Test Shuts Off Oil Leak From Gulf Well
Reuters (15 July 10)
Teens Using Digital Drugs to Get High
Wired (14 July 10)
…
A Sunday in London
This morning, I attended the Eucharist at St. Paul’s Cathedral, including a celebration of Mozart’s sacred music, receiving communion with more than 1,000 worshipers. Our sermon was on forgiveness a…
Serenade at Liverpool Station
When I stopped at Liverpool Station for coffee this morning, there was a gentlemen playing the street piano. I stopped to sit in the sun and listen to the music.
Many hours later after my meeting a…
What a Time!
I flew to London on Wednesday, flying from Memphis to Dallas. The airports were busy. The all night flight from Dallas to London was packed.
I came into the City of London from Heathrow Airport wit…
Gold Swap Mystery Deepens
By C. Powell
Dear Friend of GATA and Gold:
The Wall Street Journal this evening updated and corrected its report about the gold swaps undertaken by the Bank for International Settlements, disclosi…
Europe’s New Approach to Biotech Food
By James Kanter
After decades of pushing nations to surrender more power to Brussels, the European Union is about to throw in the towel on one highly contentious issue: genetically modified foods.
…
Precious Metals Market Report
Listen to the MP3 audio file
The Solari Report – 08 July 2010
Download the MP3 audio file
Audio
By Catherine Austin Fitts
This week Franklin Sanders of The Moneychanger will be joining…
Money & Markets Charts ~ 7.07.10
View this week’s chart comparisons of gold against fiat currencies, oil and the Dow. Stay tuned for our next Money & Markets segment of The Solari Report this Thursday, July 8, 2010.
Click here…
Money & Markets Charts ~ 7.07.10
View this week’s chart comparisons of gold against fiat currencies, oil and the Dow. Stay tuned for our next Money & Markets segment of The Solari Report this Thursday, July 8, 2010.
Click here…
Quote du Jour
“The future is created by the people who build it, not the people who predict it will not exist.”
~ Catherine Austin Fitts
BIS Engaged in Gold Swaps to About 380 Tonnes
By Jesse
These swaps have significance because of the speculation that the public sale of gold by the IMF, which was secretive and selective, was not a legitimate sale to raise funds, but a means o…
Plugging BP’s Macondo Oil Well
By Jessica Resnick-Ault and Katarzyna Klimasinska
BP Plc is likely to intercept its Gulf of Mexico gusher this month, ahead of schedule, kicking off a “kill” process that may take as little as …
Plugging BP's Macondo Oil Well
By Jessica Resnick-Ault and Katarzyna Klimasinska
BP Plc is likely to intercept its Gulf of Mexico gusher this month, ahead of schedule, kicking off a “kill” process that may take as little as …
Whitney on State & Local Cutbacks; Consumer Defaults
Continue reading Meredith Whitney: The Rebound In Consumer Spending Is Just The Result Of People Not Paying Their Mortgages
Whitney on State & Local Cutbacks; Consumer Defaults
Continue reading Meredith Whitney: The Rebound In Consumer Spending Is Just The Result Of People Not Paying Their Mortgages
Home Ownership And The Banks
Dear Jim,
Allow me to chime in here and bolster your comments to CIGA Arlen.
First and foremost, what your readers need to understand is that no one who has a loan secured by a mortgage on his hom…
Illinois Stops Paying Its Bills
By Michael Powell
Even by the standards of this deficit-ridden state, Illinois’s comptroller, Daniel W. Hynes, faces an ugly balance sheet. Precisely how ugly becomes clear when he beckons you in…
War Horse
YouTube
I am flying to London this week; returning early next week. This Friday, I will join wonderful clients and friends to see Nick’s Stafford’s play, War Horse. This is something I have wan…
BP Financial Limbo Dance
View Larger Chart
Continue reading BP Financial Limbo Dance
As Oil Industry Fights a Tax, It Reaps Subsidies
By David Kocieniewski
When the Deepwater Horizon drilling platform set off the worst oil spill at sea in American history, it was flying the flag of the Marshall Islands. Registering there allowed th…
Russian Mayor Irks Security Agency, and Suffers
By Clifford J. Levy
On the edge of this Siberian village is a resort with a veiled guest list and armed guards at the front gate. When local officials have expressed unease about what goes on insid…
College President Withdraws from Goldman Sachs Board
By Janet Lorin
As much as higher education and corporate America would like to be engaged, college presidents are struggling to reconcile the demands and values of academia with shareholder skepticis…
Emerging Market Banks
View Larger Chart
Continue reading The Bigger And Bigger Picture
BP Seeking Investors
BP Plc is seeking a strategic investor to secure its independence in the face of any takeover attempts as it struggles with a devastating oil leak in the Gulf of Mexico, newspapers said Sunday.
Brita…
The Governance Nightmare
“In a global economy when you lower the cost of capital and rig resources for insiders, a severe misallocation of capital results. This has been occurring for decades. As a result, we have a world…
Money & Markets – Week of 7.4.10
Getting America Back In Business
USAonly.US
China to Roll Out Nationwide Tax on Oil And Gas Sales
BBC News (8 July 10)
How Large is the Outstanding Value of Sovereign Bonds?
Calculated Risk (8 July …
Money & Markets – Week of 7.4.10
Tax Informant Wins Ruling In Dillon Fortune Case
Forbes | 10 July 2010
First to construe…
Silos and silences: Why so Few People Spotted the Problems in Complex Credit and what that Implies for the…
Precious Metals – Week of 7.4.10
Gold Production in China May Advance by 5% This Year, National Gold Says
Bloomberg (6 July 10)
Massive Drain Of Comex Silver Inventories Continues
Coin Update News (1 July 10)
Housing & Mortgage Markets – Week of 7.4.10
New Loan Delinquencies on the Rise Again
CNBC (6 July 10)
Housing & Mortgage Markets – Week of 7.4.10
New Loan Delinquencies on the Rise Again
CNBC (6 July 10)
Geopolitical – Week of 7.4.10
Ron Paul Ponders Politics, 2012 Run
CNN Politics (8 July 10)
‘Climategate’ Review Clears Scientists of Dishonesty Over Data
Guardian.co.uk (7 July 10)
French Court Orders More Jail Time For Noriega
…
Food & Health – Week of 7.4.10
The Claim: Exposure to Plants and Parks Can Boost Immunity
The New York Times (5 July 10)
Shipping Containers Converted Into Health Clinics Help Save Lives in Haiti
YourOliveBranch.org (6 July 10)
C…
Food & Health – Week of 7.4.10
The Claim: Exposure to Plants and Parks Can Boost Immunity
The New York Times (5 July 10)
Shipping Containers Converted Into Health Clinics Help Save Lives in Haiti
YourOliveBranch.org (6 July 10)
C…
Life – Week of 7.4.10
The Keys to Unlocking Your Most Successful Career
The Wall Street Journal (6 July 10)
The First Thing Young Women Do in the Morning: Check Facebook
mashable.com (7 July 10)
I Love You, You’re Perfe…
Science & Technology – Week of 7.4.10
Solar Impulse Begins 24-hour Test Flight, Lets You Watch The Whole Thing Live
Engadget (7 July 10)
Solar Lamp Wins Award For Helping Developing Countries
BBC News (2 July 10)
Science & Technology – Week of 7.4.10
Solar Impulse Begins 24-hour Test Flight, Lets You Watch The Whole Thing Live
Engadget (7 July 10)
Solar Lamp Wins Award For Helping Developing Countries
BBC News (2 July 10)
In Congress, July 4, 1776
The unanimous Declaration of the thirteen united States of America.
“WHEN IN the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them …
Michael Fields Agricultural Institute Looking For New Director
Michael Fields Agricultural Institute, a nonprofit agricultural service provider, is looking for a new director.
The Institute seeks a leader who has the skills and passion for internal and externa…
Gulf Oil Spill – Day of Prayer Proclamation
From Alabama Governor Bob Riley
WHEREAS, Alabama is suffering from an unprecedented disaster caused by the explosion and sinking of the BP Deepwater Horizon and its aftermath, a disaster that threate…
The Lying Liars At Goldman Sachs
By Zach Carter
Today, Goldman Sachs sent its second-highest-ranking officer to Washington, D.C. to tell the Financial Crisis Inquiry Commission that his company is staffed and managed by complete i…
How Philanthropists Build Endowments
“There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.”
~ Warren Buffet
Goldman Sachs’ Credibility in Question
By: CNBC.com
Goldman Sachs’ testimony before the Financial Crisis Inquiry Commission Thursday spurred skepticism and frustration among commission members when the investment bank claimed it doesn’t…
Goldman Sachs' Credibility in Question
By: CNBC.com
Goldman Sachs’ testimony before the Financial Crisis Inquiry Commission Thursday spurred skepticism and frustration among commission members when the investment bank claimed it doesn’t…
Quote du Jour – Dean Kamen
“Technology is easy to develop,” he says. “Developing a new attitude, moving the culture from one mental model to another, that’s the difficult part. You give people a solution to a problem …
Quote du Jour
“Technology is easy to develop,” he says. “Developing a new attitude, moving the culture from one mental model to another, that’s the difficult part. You give people a solution to a problem …
Russia Building Gold Reserves
By Vincent Fernando, CFA and Kamelia Angelova
Continue reading Russia Is On A Crazy Gold Binge
Power From Thin Air
Wireless technology: It is already possible to send electricity without wires. Can devices be powered using ambient radiation from existing broadcasts?
YouTube
Continue reading Power From Thin Air
Unemployment Impacting More Than Half of Working Adults
By Michael A. Fletcher
The recession has directly hit more than half of the nation’s working adults, pushing them into unemployment, pay cuts, reduced hours at work or part-time jobs, according to a…
Forgiveness for Big Banks
By Louise Story and Gretchen Morgenson
At the end of the American International Group’s annual meeting last month, a shareholder approached the microphone with a question for Robert Benmosche, th…