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.

When People Lose Everything, They Have Nothing Left to Lose. And They Lose It

In a sign of the times, a woman in Detroit, Michigan was car jacked and hog tied while the thief robbed her home:
A bizarre home invasion left a Detroit woman hog-tied with duct tape and robbed of electronic equipment, jewelry, money and her sense of security.
It started when Leah Smith was unloading her Thanksgiving Day groceries.  She says a man put a gun to her face and tied her up first with jumper cables and then with duct tape as he ransacked the rooms in her Woodbridge neighborhood duplex.
During the ordeal Smith say the man told her he was sorry but had fallen on hard times and Christmas was coming and he had little kids.
At one point Smith says she thought it was over, so she worked to free herself but then the man came back.
He told her he needed help loading all her belongings into her own car.  Smith says she just wanted him to go so she helped him pack her car, watched him drive away and then ran to a neighbors house to call 911.
source: WXYZ
This incident goes to show just how desperate some people will get. Desperate times call for desperate measures.
We can certainly empathize with the man who is going through tough times - millions are going through exactly the same thing. Ofcourse, this does not justify him carjacking, hog tying and then robbing a woman.
When there are no jobs, and there’s no light at the end of the tunnel, many people will take actions that they would never have considered taking in better times.
For now, there remains a governmental safety web ofunemployment benefits (for most), welfare, food stamps andMedicaid. But once those on the programs start being eliminated, or the inevitable austerity cutbacks commence, stories like the one above will become commonplace.
We can expect a rise in home invasions, robberies, kidnappings for ransom, and violent crime. This is an unavoidable side effect of a depressionary economic environment.
How can you prepare?
For one, we recommend to all our readers that you get armed. If you have a home defense weapon already, consider a conceal and carry permit. In addition to being ambushed entering your home, mall, grocery and retail store parking lots will become hot spots for thievery and assault.