cue the lightning bolts

the only question that matters: is it true?

Iran has signed the NPT. As a signatory to the NPT, Iran may rightfully, legally, use nuclear technology for peaceful energy purposes. Iran has submitted to and passed repeated IAEA inspections. The US intelligence community (NIE) does not consider Iran a nuclear threat. Israel refuses to sign the NPT. Israel has an estimated several hundred undeclared nuclear weapons. Russia and China have warned that an attack on Iran will have global consequences. That's the situation in a nutshell. Where to next, people? Where to?

Have I now become your enemy by telling you the truth? - Galatians 4:16

6.05.2009

Financial Calamity Beckons

The coming Debacle in Commercial Real Estate by Al Martin

(6-1-09) Speculative bubbles continue to balloon, as housing data shows home prices continue to collapse.

And the economic absurdities continue unabated.

We are now completely immersed in the Obama FantasyLand Economy where everything is supposed to be "wonderful." It's like Wall Street Journal's Andrew Ross Sorkin just said -- Look at what equity prices are doing. There aren't any problems. GDP isn't falling. Everything's just great.

Meanwhile, last Thursday night(May 28), the Fed actually came out with a statement, which in essence said -- we do not understand what is happening. That certainly inspired "confidence." Cue up the laugh track... (read more)

The Big Collapse could be very near, by Robert Wenzel

Excerpt:

The end of the current financial system, as we know it, may be imminent. If you would have asked me even two weeks ago if collapse was imminent, I would have said it was highly unlikely, now I am saying it is possible. Bernanke may be able to patch things up short-term, if he is lucky, but in the long term the U.S. financial structure is in serious trouble. There is just too much Treasury debt that needs to be raised. An international panic out of Treasury securities, even a slow controlled panic, means the Fed will be the major buyer. This will ultimately mean record inflation.

And keep this in mind, we have never seen a collapse of a currency like the dollar. Even the hyperinflation during Germany's Wiemar Period can not serve as an example. Since the dollar is the reserve currency of most of the world, a panic out of the dollar means more dollars will return to the U.S. shores than any country has ever experienced.

Other countries have had collapsed currencies, but never in the history of world of finance has so much currency been held outside a country of issue that could come flying back, almost on a moments notice. If the panic out of the dollar starts, even if Bernanke stops printing money (unlikely), all the dollars flying back into the U.S. could cause a huge price inflation all on its own.

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