Weekday NEWS to Comfort the Disturbed and Disturb the Comfortable.
Mon 07.27.2009
7 regional banks fail 6 subsidiaries of a Georgia bank go down, bringing the tally to 16 for the state in 2009. A N.Y. bank is the first FDIC-insured bank in the state to fail since 2004. State regulators shut down seven regional banks Friday, the Federal Deposit Insurance Corporation said, bringing the total number of banks to fail in the United States to 64 this year. Six of the banks that closed were subsidiaries of one larger bank, the Security Bank Corporation, based out of Macon, Ga. So far in 2009, 16 banks have failed in Georgia, more than in any other single state.
Guaranty Bank warns that it's on the verge of failure The firm, which has more than 50 branches in California, reports that its capital has been wiped out and that it is unable to raise new funds. Guaranty Bank, which has more than 50 branches in California, warned that it could become the biggest financial institution to fail this year. Asset write-downs have wiped out the company's capital, and the firm has been unable to raise fresh funds, parent Guaranty Financial Group Inc. said in a securities filing Thursday.
No. 2 Texas bank expects to fail In filing, Guaranty Financial says it's 'critically' short of capital, and is talking to investors about recapitalization. Guaranty Financial Group Inc , the second-largest publicly traded bank in Texas, said it will probably fail after loan losses and writedowns left it "critically" short of capital. The bank, whose investors include Carl Icahn and Robert Rowling, is in talks with at least one investor group for a possible recapitalization, said a source familiar with the situation. The source requested anonymity because the talks are not public.
Importance of Silver and Gold Recently an interviewer asked me why silver and gold are doing much better than silver and gold mining stocks. This was a question that I anticipated and had given a great deal of thought. First, there is a contingency out in the precious metals camp that "gold" is the only asset that is not at the same time someone else's liability. This is a mantra that is only partially true. Any thinking person would recognize that silver, copper, or firewood would represent an asset that is not someone else's liability. This of course is based upon the fact that the commodity is owned outright. We could argue that any tangible asset could be considered "another" asset that is not simultaneously someone else's liability. I plainly do not buy the idea that gold is the ONLY asset that is not a liability to someone else!
Gold price may soar to $900-1000/oz this week Gold price is on a boom. Analysts have predicted that gold prices might soar to of $ 990-1000 an ounce this week in international markets thanks to weakening dollar. "Gold prices are going to go up this week. The global dollar index is falling and this is making gold to surge to record levels. So investors with good gold positions are going to benefit this week," predicted Dubai-based bullion analyst Mark Robinson.
Is The Rally in PMs Running Out of Steam or Are They Going Higher Right Away? Precious Metals are still in a favorable fundamental situation, and with the recent news confirming the strength of the investment demand, the overall picture is even more bullish. However, as far as timing is concerned, we may need to consolidate for several days. Once we see that the technical situation has improved in the USD Index and S&P 500, the precious metals should be ready to move much higher, probably above the $1000 level.
Gold is genuine Wealth, it is real money Throughout history no paper currency has survived in its original form. Paper currencies are normally inflated away until they are worthless. The purchasing power of the US dollar has declined by 90% since 1950. The situation is the same for most currencies. When governments come under financial pressure they can never resist printing money to pay for debts, be they war debts or just excessive spending. Gold is the only currency which has no liability attached to it.
how Obama could confiscate your gold according to Marc Faber
Dollar May Depreciate ‘Quite Aggressively,’ Standard Bank Says The dollar risks a “break to the downside” amid falling volatility, Standard Bank Plc said. “There may well be a resignation within the market that range-trading will be with us through the rest of the summer,” said Steve Barrow, head of Group of 10 research in London, wrote today in a report. “This could prove incorrect. The dollar is just as likely to break down and possibly quite aggressively. Spot-market stability and falling volatility can work against the dollar right now and produce a significant fall.” The dollar weakened 0.5 percent to $1.4211 per euro as of 10:01 a.m. in London.
You Can't Print Production and Prosperity It's hard to imagine that the monetary policy talk can get any nuttier, but we've likely only just begun. After all, despite the Federal Reserve growing its balance sheet by 140 percent and dropping rates essentially to zero, the bankruptcies just keep on coming. Ex-Fed governor Wayne Angell told Larry Kudlow's CNBC audience, "monetary policy always works!" Although Angell does stipulate that it takes time before the tromping on the monetary gas pedal will spin the economic tires and spray the prosperity gravel.
World Prepares to Dump the Dollar American economists think the world can't afford to let go of the dollar's reserve currency status. The world is about to teach them differently. What do China, India, Brazil, Russia, France and Germany have in common? These countries most often can't agree on anything. But they are united in one strange - and ominous - way. They blame the United States for wrecking the global economy. And they think the dollar is the wrecking ball.
Peter Schiff: I Was Right And Art Laffer Was Wrong The editors of the Daily Bell are pleased to publish this exclusive interview with free-market financial advisor Peter Schiff who founded the successful investment firm of Euro Pacific Capital and is contemplating running for Senator from Connecticut.
Marc Faber the recent rally is the result of excess liquidity The worst is still to come
THE DARK YEARS ARE HERE In this newsletter we will outline what is likely to be the devastating effect of the credit bubbles, government money printing and of the disastrous actions that governments are taking. Starting in the next 6 months and culminating in 2011-12 the world will experience a series of tumultuous events which will be life changing for most people in the world. But 2011-12 will not be the beginning of an upturn in the world economy but instead the start of a long period of economic, political and social upheaval that could last for a couple of decades.
Get ready for banking's next headache A weak economy and frozen financing markets could spell trouble for regional banks with big commercial loan portfolios. Regional banks can no longer ignore the elephant in the room -- their exposure to the commercial real estate bust. Though housing markets remain weak, analysts expect credit problems over the next year to center on commercial real estate -- mortgages on office and apartment buildings and shopping malls, as well as construction, development and industrial loans.
A) From 1776 to 1912 (136 years), the value of the dollar, relative to the Consumer Price Index, increased by 11%.
B) The United States Federal Reserve was created in 1913. The stated purpose of the Fed, by its own definition taken from its website, is to "conduct the nation's monetary policy by influencing money and credit conditions in the economy in pursuit of full employment and stable prices."
C) Then after The Fed's creation, from 1913 to 2008 (95 years), the value of the dollar, relative to the Consumer Price Index, decreased by 95%.
Foreclosure inn: Luxury hotels default Missed loans payments are on the rise, but what is hurting hotels is good for consumers as owners slash room rates by as much as 12%. There's plenty of room at the inn. So much, in fact, that many high-end hoteliers are bleeding cash and defaulting on their loans. "The industry is clearly in a downturn," said John Fox, a vice president with PKF Consulting, an advisor to the hotel industry. "It's across the board with the luxury end of the business hit a little harder than the moderate end."
Bernanke had to 'hold my nose' over bailouts Bernanke voices anger at bailing out risk-takers, but says had to avoid 2nd 'Great Depression' Federal Reserve Chairman Ben Bernanke said Sunday that he had to "hold my nose" over last year's taxpayer-financed bailouts of big financial companies but argued that the action had to be taken to avoid a major meltdown of the U.S. financial system and the broader economy. Bernanke's comments came during a town-hall style meeting in Kansas City, Mo., where he was peppered with several questions about government decisions last year to rescue so-called "too big to fail companies" like insurance giant American International Group, whose collapse would have wreaked havoc on the global economy.
Bernanke Defends Fed’s Response to Financial Crisis Federal Reserve Chairman Ben S. Bernanke defended the central bank’s response to the financial crisis and recession in a forum to be televised this week, saying he sought to avoid a "second Great Depression." "The problem we have is that in a financial crisis, if you let the big firms collapse in a disorderly way, it will bring down the whole system," Bernanke said today at a town- hall-style meeting in Kansas City, Missouri, taped for broadcast on PBS television. "I was not going to be the Federal Reserve chairman who presided over the second Great Depression."
Bernanke says the U.S. economy has 'a very long haul' ahead 'Unemployment is going to stay high for quite a while,' and probably won't peak until the end of this year, according to the central bank chairman. He also predicts that foreclosures will head higher. Federal Reserve Chairman Ben S. Bernanke, offering a more hopeful outlook on the grim jobs picture than many economists, projected that the U.S. unemployment rate would peak at the end of this year. Although economists generally expect the jobless rate, which hit 9.5% in June, to keep rising into the first half of next year, Bernanke suggested that the labor market could begin a recovery sooner.
Bernanke: Economy to bounce back stronger At a town hall meeting in Kansas City, Mo., the Fed chairman said the recovery will take some time, but that lessons learned will benefit the nation. Federal Reserve Chairman Ben Bernanke said Sunday that lessons learned from the recession and the financial crisis will help make the economy stronger than it was before the crisis. Speaking at a town hall event at the Kansas City, Mo., Fed called "Bernanke on the Record," the chairman answered questions from members of the public as well as moderator Jim Lehrer of PBS.
Bernanke takes his message to the heartland The U.S. jobless rate is likely to stay high even once the nation exits recession some time in the next few months, Federal Reserve Chairman Ben Bernanke said on Sunday. Taping a "Bernanke on the Record" special that will air on PBS this week, the top U.S. monetary policy-maker defended the aggressive, even unorthodox actions taken by the Fed during the long recession and deep financial crisis. "I was not going to be the Federal Reserve Chairman who presided over the second Great Depression," Bernanke said.
The Great Preventer Roubini thinks Bernanke need to be reappointed LAST week Ben Bernanke appeared before Congress, setting off a discussion over whether the president should reappoint him as chairman of the Federal Reserve when his term ends next January. Mr. Bernanke deserves to be reappointed. Both the conventional and unconventional decisions made by this scholar of the Great Depression prevented the Great Recession of 2008-2009 from turning into the Great Depression 2.0.
On the Edge with Max Keiser - 24 July 2009 (pt1 of 3)
Wall Street: Here comes the hard part Investors wade into the heaviest week of corporate reporting yet. Reports on GDP, housing, consumer confidence and manufacturing also due. Can a recharged stock market rally withstand the biggest week of corporate profit reports yet? Maybe. "As long as earnings continue to surprise to the upside and revenues aren't disastrous, the market should move higher in this period," said Timothy Ghriskey, chief investment officer at Solaris Asset Management.
Fed's future role at issue on Hill Congress struggles with complex plan for reordering financial regulation. A key hangup is how much new power to give the Federal Reserve. A major Obama administration plan to deal with financial companies too big to fail is becoming too big to zoom through Congress. Top White House and Treasury Department officials have been working behind the scenes for weeks to push lawmakers to start tackling legislation aimed at rescuing giant financial companies on the brink of failure -- like American International Group.
US hopes China talks spur economy, job creation Despite diplomatic tensions, US hopes China talks help spur economic recovery, job creation With the global economy mired in recession, the United States and China begin talks Monday to seek a solution together despite tensions over currencies, the U.S. budget deficit and the huge U.S. trade gap with China. Ultimately, how well the U.S. efforts succeed could help determine how fast the economy recovers and how many U.S. jobs might be created once it does. Other issues, such as climate control and North Korean nuclear ambitions, also will command attention. Few expect the talks to bridge the sharp differences between Beijing and Washington. But both governments want to use the occasion to help build a less confrontational relationship.
The 'new' new tax on the rich As Congress continues to grapple with how to pay for health care reform, taxing the wealthy is still in play. Just how wealthy is the next question. The definition of "rich" may be going up should lawmakers choose to impose extra taxes on the wealthy to pay for health reform. Three committees writing the lead House bill have called for an additional tax to be imposed on income above $280,000 for singles and $350,000 for married couples. The so-called surtax would run as high as 5.4% on income over $1 million.
On the Edge with Max Keiser - 24 July 2009 (pt 2 of 3)
Mortgage relief efforts are criticized Senate panel hears complaints amid a new push by some lawmakers to allow bankruptcy judges to modify home loans. Federal programs aimed at modifying loans to stem foreclosures aren't working, witnesses told a Senate Judiciary subcommittee, and some lawmakers called on Congress again to pass a bill allowing bankruptcy judges to modify home loans -- a procedure known as mortgage cram-downs. Separately, the Federal Reserve took steps to make lending terms more understandable as part of its efforts to avoid another mortgage meltdown, which triggered the deep recession worldwide.
U.S. Home Vacancies Hit 18.7 Million on Bank Seizures More than 18.7 million homes stood empty in the U.S. during the second quarter as the steepest recession in 50 years sapped demand for real estate and banks seized properties from delinquent borrowers. The number of vacant properties, including foreclosures, residences for sale and vacation homes, was little changed from 18.6 million a year earlier, the U.S. Census Bureau said in a report today. The quarterly homeownership rate was 67.3 percent, seasonally adjusted.
Will Big U.S. Banks Be Forced to Cover Large Gold Short Positions? For many years, accusations that JPMorgan Chase, Citigroup, Bank of America and Goldman Sachs have wide open and huge, exposed short positions against gold and silver, have been made by groups like GATA and others. In the United States these four banks control over 90% of the derivatives market. They too will be subject to "substantial supervision and regulations," including conservative capital requirements and strong business conduct standards. U.S. Treasury Secretary Timothy Geithner is set to propose giving securities and futures regulators authority to police the over-the-counter derivatives market. Discussions on these regulations begin next week.
Real Yields Highest Since '94 Aid Treasury $115 Billion Auction The highest inflation-adjusted yields in 15 years are helping provide the Treasury with record demand at auctions as the U.S. prepares to sell $115 billion of notes this week. Treasuries are the cheapest relative to inflation since 1994 after consumer prices fell 1.4 percent in June from a year earlier. The real yield, or the difference between rates on government securities and inflation, for 10-year notes was 5.06 percent on July 24, compared with an average of 2.74 percent over the past 20 years.
On the Edge with Max Keiser - 24 July 2009 (pt3 of 3)
ANIMAL FARM - 2009 All animals are equal, but some animals are more equal than others. - - George Orwell – Animal Farm The United States has gradually degenerated from a Republic based on individual liberties to a socialized oligarchy run by an exclusive few. The country was founded upon the platform of individual rights. We declared our independence from Great Britain because of excessive regulation and taxation. Americans fought for the right to live their lives free from the subjugation of an overbearing governmental body. The Founding Fathers declared our independence with these immortal words:
A Worldwide Bubble in Everything The depression deepens. "These are not layoffs...they're permanent job losses," said Barry Ritholtz yesterday morning in his presentation at the Agora Financial Investment Symposium in Vancouver. "These people are not going back to work anytime soon." That is the difference between a recession and a depression. In a recession people get laid off...and then they are called back to work when things go back to normal. But in a depression, they are let go permanently. They exhaust their unemployment benefits and become desperate. They must find new employment in new industries. Because things cannot go back to normal; normal is played out.
China May Press Geithner on Dollar, Economy in Washington Talks The dollar may be the focus of Chinese-U.S. talks starting in Washington today as China presses the Obama administration on how it will tame the fiscal deficit and protect the U.S. currency’s value, Morgan Stanley said. Treasury Secretary Timothy Geithner and Secretary of State Hillary Clinton will host two days of meetings spanning topics from the economic crisis to North Korea. The Strategic and Economic Dialogue is the Obama administration’s first with China.
Mass Layoffs: The Continuing Devastation Stock market investors shrug off a disaster in our midst: mass layoffs. Investors act as though it will soon be business as usual. Companies cut costs by firing employees that have been with them for decades. Then the companies can report higher earnings from cost-cutting measures. The media then proclaim an increase in earnings. But how will these increases be sustained? How will an unemployment rate of 11% help get the economy back on its feet?
He Promised Change, but Is This Too Much, Too Soon? Among the biggest decisions President Obama faced in the weeks before his inauguration were how to assess the scope of the mandate he had received from the voters and how to act on it. It was inescapable after the troubled presidency of George W. Bush that people were ready for change. But how much and how fast were not so apparent from the election returns. Obama's decision to launch the most ambitious domestic agenda since Lyndon B. Johnson's thus became the defining decision of his presidency.
The New Consumer Debt Strategy: Just Walk Away Consumers are mad as hell and they're not going to take it anymore. Every day, the bank calls--demanding to know why the consumer hasn't paid his credit card bills. Every time the consumer skips a payment (to persuade the bank to cut the interest rate), the bank responds by jacking up the interest rate. And so on. Now consumers are finally responding by doing what banks do when they can't pay their debts: just walking away.
Helping the unemployed pay their mortgages As more jobless fall into foreclosure, the Obama administration is looking at ways to help them save their homes. As a growing number of jobless Americans default on their mortgages, the Obama administration is considering new ways to help them avoid foreclosure. Among the options being floated are giving the unemployed money, in the form of grants or loans, to cover their mortgage payments or allowing them to remain in their homes as renters after foreclosure.
Consumer confidence dips in July The Reuters/University of Michigan Surveys shows consumers are wary about the slow pace of recovery. U.S. consumer confidence waned in late July to its lowest ebb since April on growing pessimism about the long-term economic outlook, especially about income and jobs, a survey showed Friday, even as some economists reckon the longest recession in decades may be easing.
Joe Biden: ‘We Have to Go Spend Money to Keep From Going Bankrupt’ Vice President Joe Biden told people attending an AARP town hall meeting that unless the Democrat-supported health care plan becomes law the nation will go bankrupt and that the only way to avoid that fate is for the government to spend more money. “And folks look, AARP knows and the people with me here today know, the president knows, and I know, that the status quo is simply not acceptable,” Biden said at the event on Thursday in Alexandria, Va. “It’s totally unacceptable. And it’s completely unsustainable. Even if we wanted to keep it the way we have it now. It can’t do it financially.”
Pelosi does not favor second economic stimulus U.S. House of Representatives Speaker Nancy Pelosi does not favor a second economic stimulus package, she said in an interview broadcast on Sunday.
Obama touts healthcare plan for small businesses President Barack Obama said Saturday that Democratic plans to revamp the U.S. healthcare system would benefit small businesses, an argument that quickly drew criticism from his Republican opponents. Obama is trying to build more public support for a broad healthcare overhaul after action stalled in the U.S. Congress this week and polls showed many Americans were skeptical about the $1 trillion program.
5 freedoms you'd lose in health care reform If you read the fine print in the Congressional plans, you'll find that a lot of cherished aspects of the current system would disappear. In promoting his health-care agenda, President Obama has repeatedly reassured Americans that they can keep their existing health plans -- and that the benefits and access they prize will be enhanced through reform. A close reading of the two main bills, one backed by Democrats in the House and the other issued by Sen. Edward Kennedy's Health committee, contradict the President's assurances. To be sure, it isn't easy to comb through their 2,000 pages of tortured legal language. But page by page, the bills reveal a web of restrictions, fines, and mandates that would radically change your health-care coverage.
House Democrats Censure Republican's Use of Term 'Government-Run' Health Care in Constituent Communications Rep. John Carter (R-Texas) made public last week an e-mail from the Franking Commission that asked him to change the audio message on a telephone town hall meeting on health care from “government run” to “public option.” The Franking Commission, a bi-partisan committee authorized by law to oversee mail and other communications between members of Congress and their constituents that is paid for with federal funds, responded to the audio message from Carter’s staff for the town hall event that said: “The House Democrats unveiled a government-run health care plan.”
What will triumph in health care push -- reform or recess? Something old and something new to watch this week: The continuing -- some say languishing -- health care debate, and the launch of the "Cash for Clunkers" program designed to improve the nation's fuel efficiency, not to mention Detroit's bottom line. "Busy week," was the understatement of a top House Democratic leadership aide as he looked ahead.
Dems: We'll move forward on health plan Senate Democrats alone cannot pass President Obama's ambitious overhaul of how Americans receive health care, a top lawmaker acknowledged on Sunday. Republicans said they will continue their opposition to a plan they say is simply a government takeover of private decisions. Both sides said they want to improve the system and provide care for almost 50 million Americans who lack health insurance coverage, but the two parties remain deeply divided over how to reach that goal. Republicans said the longer the delay, the more the public understands the stakes of a policy that has vexed lawmakers for decades.
Democrats wait and see on health care A key Senate Democrat said Sunday that passing a major health-care bill is impossible without Republican support, though the chamber's top Republicans were not forthcoming with such support on the weekend's political talk shows. "Look, there are not the votes for Democrats to do this just on our side of the aisle," said Sen. Kent Conrad, North Dakota Democrat and a member of the Senate Finance Committee crafting the bill.
Pelosi Says She Will Pass U.S. Health-Care Overhaul House Speaker Nancy Pelosi said she will pass legislation to overhaul the U.S. health-care system through her chamber even as members of her own Democratic Party expressed skepticism after days of discord and delays. “When I take this bill to the floor, it will win,” Pelosi said in an interview on CNN’s “State of the Union” program that aired today. “This will happen.”
White House hits watchdog on Medicare plan Orszag says Congressional Budget Office exaggerates costs in saying little would be saved by oversight panel. The White House has criticized the Congressional Budget Office's findings that the Obama administration's proposal to control Medicare costs would yield a moderate savings of $2 billion over the next decade. White House Budget Director Peter Orszag said the CBO's analysis -- which it relayed to House Majority Leader Steny Hoyer on Saturday -- could feed a perception of the office's bias toward "exaggerating costs and underestimating savings."
Former AMA Head Warns of ‘Disaster in the Details’ of Obama Health Overhaul The former president of the American Medical Association, Dr. Donald Palmisano, a surgeon, warned that if the Obama administration did not slow down on its drive for a government-led health care overhaul, the treatment choices available to patients would be undercut. He added that the president’s “public option” plan in particular would be a disaster for patients and medical innovation.
A Cliffhanger to See if a G.M. Turnaround Succeeds SATURDAY, May 30, offered the kind of warm, sunny afternoon that rain-soaked New Yorkers had longed for all spring. In the theater district, crowds were gathering to catch a glimpse of Barack and Michelle Obama, who were planning to attend a Broadway show so the president could fulfill his campaign promise to his wife of a date night in Manhattan. Fourteen blocks north, high up in a boardroom at 767 Fifth Avenue, Fritz Henderson was about to make the toughest decision of his life, and one that Mr. Obama and his advisers had seemingly foisted upon him.
Don't speed into cash-for-clunker offer Once again, the federal government wants you to shop to save the economy. After the Sept. 11 terrorist attacks, the Bush administration made the case for “patriotic” stock and bond buying sprees. The domestic car makers rolled out flag-waving commercials and zero percent financing deals to persuade Americans to buy American. Politicians passed tax cuts in 2002 and pushed citizens to spend their rebates to rev up the lackluster economy. Economic stimulus packages created another opportunity to proclaim shopping as a patriotic pastime. Now, the Obama administration is making the same pitch, dressing it up in green.
Conservatives Now Outnumber Liberals Almost Two to One in America, According to Washington Post Poll Americans who consider themselves conservatives now outnumber Americans who consider themselves liberal by almost two to one, according to a new poll by the Washington Post and ABC News. In the poll of 1,001 adults conducted between July 15-18, respondents were asked: “Would you say your views on most political matters are liberal, moderate, or conservative?” Thirty-eight percent said they were conservative, while only 20% said they were liberal. Thirty-nine percent, meanwhile, said they were moderate.
Get Ready for Ditch Power! Irrigation canals are glamorous like the sea, but it might be easier to harvest power from them, says Hydrovolts. Think of it as the love child between a steamboat paddlewheel and a small hydroelectric dam. Seattle, Wash.-based Hydrovolts has devised an "in-stream hydrokinetic turbine" for harvesting electric power from canals, irrigation networks, wastewater systems and the streams in and around industrial sites.
Alaska Gov. Palin to leave office with cloudy future Sarah Palin, the former Republican U.S. vice presidential candidate, will step down as Alaska's governor on Sunday with her political future clouded by ethics probes, legal bills and dwindling popularity. Palin made a surprise decision on July 3 that she would resign, raising questions about her next move and whether she was planning to mount a run for president.
Weak economy pushing Russia to arms deal: Biden Russia's struggling economy and its leaders' pragmatism will push it to make deals on nuclear arms reduction as Washington seeks to reset ties with Moscow, U.S. Vice President Joe Biden said. Biden made the remarks in an interview with the Wall Street Journal published on Saturday, after he visited Ukraine and Georgia to reiterate U.S. support for the two former Soviet states at loggerheads with Moscow.
U.S. defense chief heads to Israel, Jordan U.S. Defense Secretary Robert Gates heads to Israel on Sunday for talks covering missile defense, Israel's plan to acquire the multinational F-35 fighter jet and efforts to curb Iran's nuclear ambitions. During a visit that will last about six hours on Monday, Gates is to meet Prime Minister Benjamin Netanyahu and Defense Minister Ehud Barak to discuss those and other bilateral defense issues, a senior U.S. defense official said.
U.S. tries to spur Middle East peace talks The United States launched a fresh drive on Sunday to restart Middle East peace talks, sending senior officials to the region to deal with issues ranging from Jewish settlements to Iran's nuclear ambitions. The visits by Middle East envoy George Mitchell, Defense Secretary Robert Gates and National Security Adviser Jim Jones were a strong signal from U.S. President Barack Obama of his intention to keep Israeli-Arab peacemaking high on his agenda.
Clinton urges North Korea to return to talks U.S. Secretary of State Hillary Clinton said on Sunday that major powers wanted North Korea to return to negotiations over its nuclear program but would not reward any provocative actions. "We are not going to reward them for half-measures. They now know what we in the world community expect," said Clinton in an interview with NBC's "Meet the Press" program.
Rallies around globe back Iran protesters Iranians protesting last month's disputed presidential election won support across the world Saturday as sympathizers rallied in dozens of cities demanding the release of opposition activists jailed by the Islamic republic. In Iran, police and pro-government militia attacked and dispersed hundreds of protesters who had gathered in Tehran, while opposition leaders appealed to the country's top clerics in the city of Qom to intervene and end the crackdown.
Iceland's krona proves the magic wand as Europe ails Iceland's krona is working its magic cure. Well-heeled Japanese tourists – once a rarity – can be seen these days sampling halibut at Reykjavik's Siggi Hall, or buying Gymur jackets at the 66°North store on Bankastraeti. The krona has fallen by half against the euro since the `New Viking' trio of Landsbanki, Glitnir, and Kaupthing strayed out of their depth and brought down Iceland's financial system. Nothing is cheap, but prices have come within reach. Reykjavik's cafés are packed with euro-youth, at last able to afford a taste of all-night dancing at this Arctic Ibiza.
Henry Lamb on agenda 21
Global Plantation NWO Agenda 21
AGENDA 21 DEPOPULATION 2009 PART 1
AGENDA 21 DEPOPULATION PART 2
Obama Admin to Depopulate This Fall 2009
The 2012 NWO Agenda 1 of 10 (a few falsehoods in this part)
RSS
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/quotes_7a.gif)