Thursday, December 2, 2010

‘Shock and Awe’ in Precious Metals

Earlier this month, precious metals investors witnessed arguably the most concerted take-down of the precious metals sector since the Crash of ’08. First, investors were lathered-up into a mania, after World Bank head Robert Zoellick planted a piece in the Financial Times where he feigned interest in having a gold standard re-instituted.
Then the ambush took place.

Hunted WikiLeaks chief goes into hiding

Freedom Fighters Lew Rockwell Freedom Watch 12/01/10: Fed Fiasco, Jobless Benefits

Video......
http://www.youtube.com/watch?v=ghBNijT-G_g&feature=player_embedded#!

The New Greyhound: Metal Detectors, Scanners, Pat Downs Introduced at Bus Terminals

As we and many others mentioned at the onset of the recent TSA policy changes regarding security at airports, similar measures would soon be introduced at other public venues.
The Transportation Administration has now begun deploying temporary, rapid response checkpoints at bus stations in Tampa. Dubbed VIPER for Visual Intermodal Protection and Response, the checkpoints are designed to be put into place in the event a terror or other threat arises in the future.
But, that hasn’t stopped TSA/DHS from deploying the new security measures right now - even with no credible threats:
From Ethan Huff:
In other words, there really is no legitimate — or legal — reason for TSA agents be frisking passengers at bus stops, but as long as the cited reasons include “security”, the public is simply supposed to accept the unwarranted checkpoints as a necessary evil for the sake of improved safety.
“What we’re looking for are threats to national security as well as immigration law violators,” explained Steve McDonald from the U.S. Border Patrol, also trying to legitimize the efforts to the public.
ABC News Report:

Congresswoman Calls WikiLeaks a "Terrorist Organization"

http://www.youtube.com/watch?v=r6JdQWli8jQ&feature=player_embedded#!

CHART OF THE DAY

Global Food Prices About To Reach An All Time High

Inflation in emerging markets is hitting food prices hard, and now we have raw data from the UN to confirm.

The latest report from the UN Food and Agricultural Organization shows prices are back at 2008 levels, and have increased for five months in a row.
The data evaluates 55 different food commodities, so it's a pretty broad gauge of world costs.
Whether or not costs are high enough yet to lead to a world food crisis remains to be seen, but further inflationary pressures on emerging markets, where there are the most mouths to feed, will remain a threat.
chart of the day, food index, nov 2010


Read more: http://www.businessinsider.com/chart-of-the-day-un-food-price-index-2010-12#ixzz3iljAQ8SF

More Than 8 Million Drop out of Credit Card Use

NEW YORK (AP) —
More than 8 million consumers stopped using credit cards over the past year. The decline stems from a combination of consumer choices and bank actions.
An analysis by credit reporting agency TransUnion found that use of general purpose credit cards bearing MasterCard or Visa logos, or issued by Discover or American Express, fell more than 11 percent in the third quarter, compared with the July to September period last year.