As thousands protested in the streets of Toronto, inside the G20 summit, world leaders agreed to a controversial goal of cutting government deficits in half by 2013. We speak with journalist Naomi Klein. “What actually happened at the summit is that the global elites just stuck the bill for their drunken binge with the world’s poor, with the people that are most vulnerable,” Klein says.
Let the truth be told! We have a crisis on our hands and we need to let everybody know what is really going on in the Gulf. It is a slow process, with the sickness starting among us, “Gulf Oil Syndrome”. I was told by a credible source, that the government is buying up motel and hotel rooms in small communities in Tennessee and Arkansas and renting them indefinitely. The time is now to prepare…It’s all up to you… OLS
This Gulf oil disaster is so much more worse then we are being told! Main stream media just won’t tell us the truth. Please spread the word to help get people prepared for a possible evacuation. The air is poisoned, the water, & soil also. This video shows what is happening in the Gulf in an emotional way. I wish you all the best! OLS
The time is now to prepare….It’s all up to you….
“Ownership of gold means you are your own central bank.” Jim Sinclair
On Monday, Richard Russell warned that the market was in very dangerous territory and that the Dow was flirting with danger as it approached the break-down from a long-building head-and-shoulders formation. Support was around 9800. Today, the Dow was down 268.22 to 9870.30. Here is Russell’s chart, once again. You can visualize what he is referring to…
What he wrote is so important; I will show it to you again. He said:
Why do I think the stock market will be so rotten? Here’s why. Look at the chart of the Dow in the current issue of Barron’s. Or study the chart of the Dow below. If this isn’t the mother of all head-and-shoulder top-formations, I’ve never seen one. If this formation falls apart, I expect the break to signal the start of a brutal decline in stocks. The first area of support is Dow 10,000. The base of the entire formation comes in at Dow 9800. If the formation breaks down, I think all previous plans, scenarios and strategies will hit a stone wall. Wall Street and public sentiment will turn black-bearish. Consumers will head for the storm cellars and once in, they’ll shut the door above them and lock it.
Another day like today and the Dow will breach the neck-line support at 9800. Why is that so important? Because most of the action in the stock market is program trading by large funds. Their computers are programmed to buy and sell at certain strategic points like moving averages, previous highs and lows and Fibonacci points. Whether this information is actually significant is not important. What is important is that the funds and their computers think it is and act accordingly. A break-down from a long-term head and shoulders is a big sell signal to most of the computer algorithms. It is like fulfilling your own prophecy. They expect the market to continue to fall, so they sell which forces the market lower which re-enforces the validity of their programmed trading platforms. Once this waterfall drop starts, it can go a LONG way. This is what Russell is alerting you to.
I have to say and have many articles here on PWA that Russia has shown there is an abundance of oil at the deeper depths…In fact it’s how they have become the Oil Czars…It has been found that the oil extracted at such depths does everything to disprove almost everything we had always thought about oil. It is in fact, not a fossil fuel because below the shale where it is found to be plentiful is before fossils. AND it is renewable…
Reexamining these things brings us to several conclusions…One, we are not in the oil crisis that everyone would have us believe and two, that the volcano of oil from the gulf will be close to being unstoppable…
In light of this we then can also come to a couple more conclusions:
One can not simply shut down drilling as all big industry has to run on it until alternative sources can be found. Any country can drill OIL 50 miles from our shoreline…So if we don’t someone else [probably China] will. This is unacceptable…BP in a mostly UK owned company and should be made responsible for this mess, however they also were big contributors to the Presidential campaign… And there you have it…….
~jude/rockingjude
Documents show the UK government ignored risks in subsidising oil extraction from nearly 2,000m deep in Atlantic waters
The Petrobras P-52 oil platform in the Campos basin, 125km off the coast of Brazil. Photograph: Marco Antonio Teixeira/Globo/Getty Images
The British government is subsidising one of the world’s largest and riskiest oil-drilling projects in the Atlantic Ocean and would be liable for tens of millions of pounds if a major accident took place.
Documents seen by the Guardian show that UK trade ministers underwrote loans taken out by the Brazilian state-run energy company Petrobras in 2005 in order that Rolls Royce and other companies could contribute to the building of the giant P-52 platform.
Geiger Counter Results On Gulf Oil – Vid rense.com
This is going to blow the roof off of the scope of this disaster. This is why people are getting sick. This is why they are using Corexit in such quantities, this is why there aren’t many ships out there. The radioactivity is beyond safe levels.
Governor Jan Brewer sparked a national debate on border security and illegal immigration
when she signed SB1070. While Brewer has been celebrated by many for taking action
to enforce laws that Washington has long ignored, those who oppose the law have
chosen pithy punch lines over aggressive action. Far away from the border at the
White House Correspondents Dinner, President Obama decided that Arizonas unsecured
borders and illegal immigration crisis are a laughing matter. Unfortunately, no one in
Arizona is laughing. www.JanBrewer.com
Greetings!
From David’s Desk
Gold is now consolidating its back-to-back new record highs that it made in May and June. Gold is building a strong base and the short, intermediate and long-term indicators are very bullish. Gold is setting its sights on $1,350. However, it won’t be a straight line up. There will be zigs and zags higher. Important support lies at $1,212 followed by $1,149 but I think the odds of testing these lows are remote.
Let’s get a loan
One of the topics that I’ve covered is that M-3 is collapsing because the banks are parking their funds in Treasuries instead of making loans. But there is a difference between making an “abstract” statement like that, and actually going out and applying for a loan.
Since I started Miles Franklin, 20 years ago, I have never taken out a business loan and other than the mortgage on our house, haven’t taken out a personal loan either. Recently, I needed some extra cash and considered selling some of my mining shares or precious metals to raise the funds. I decided that it was a foolish way to raise the cash, since I expect the price of these assets to rise dramatically in the next 12 months, so I paid my banker a visit. I am a highly qualified applicant. My company runs around $100 million a year through the bank, and I have been a customer there, with both personal and business accounts, for the past six years. My credit is unblemished. My net worth and salary are well beyond what is necessary for the size of the loan, plus, I have lots of collateral to cover the loan.
I sat down with the President of the bank, who I know personally. He worked directly with me six years ago when I took out a $450,000 pre-construction loan on the house Susan and I were building. We had a friendly conversation, I gave him all of the paper work that I had filled out in advance, including my last two years tax returns, both personal and corporate, and I even offered to give him, on the spot, his choice of stock certificates or physical gold to fully cover the amount of the loan I was asking for.
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