Ay, Carumba!: California borrows $40 million a day to pay unemployment benefits. No doubt, higher payroll taxes will be coming soon for Californians.
Obama returns fire after China slams Fed’s move. [JWR’s comment: The Obama Administration’s position on the Quantitative Easing monetization scheme is like a teenager claiming that he can pay his VISA Card balance with his MasterCard.]
I guess you’ve all seen the recent jump in the spot price of silver. FWIW, I’ve been touting silver since February 2001, just before it bottomed. I’m standing by my prediction of $50+ silver. I’ll grant that I was early when I first made that prediction. Well, better early than late…
This news item explains the big drop in the silver price, in after-hours trading on Tuesday: CME Taps the Brakes on Silver. This reminds me of how the COMEX power elite stopped the Hunt Brothers, 30 years ago. The metals markets are both thin and manipulated. Buckle up and be ready for some huge price swings in coming months.)
Items from The Economatrix:
US Federal Reserve Stokes Global Currency War
China Leads Backlash Against US Stimulus as Risk of Currency War, Protectionism Grows
Bob Chapman: Creation of Debt as the Basis of Growth
Federal Reserve Rains Money on Corporate America But Main Street Left High and Dry
Glenn Beck: Coming Insurrection