Swiss America's Gold News Daily- World Faces Big Fat Greek Domino Effect-Listen
DAVID BRADSHAW Editor,Real Money Perspectives
Gold prices rose above $1,625/oz. Friday on safe haven buying ahead of Greek vote, Fed stimulus hopes boost stocks. Gold last traded at $1,626 an ounce, silver at $28.70 an ounce.
GOLD LOGS SIXTH-SESSION RISE, UP 2.3% ON WEEK - Marketwatch
A decline in the U.S. dollar and weak economic data from the U.S. also contributed to gold's strength Friday. Weak U.S. data coupled with troubles in Europe have furthered hopes of more monetary stimulus measures from global central banks. "The weekend ahead could result in major changes for the euro zone," said Julian Phillips, an editor at GoldForecaster.com and SilverForecaster.com..."expect major, developed world, financial turmoil," he said. This heightens risks in all markets, and makes gold and silver a safe place to be.
BANKS PREPARE FOR WORLDWIDE CHAOS - Telegraph
Speculation is mounting that central banks including the Bank of England, Bank of Japan and US Federal Reserve are readying emergency support measures to fight the market fall-out which the result of the Greek polls could unleash. The fear around the elections is that if anti-austerity parties take control it will signal the imminent exit of Greece from the euro as bail-out agreements are torn up.
GOODBYE GREECE? - DailyReckoning
Prepare yourself for an ugly trading week next week. After their election on Sunday, the Eurozone may finally kick Greece to the curb. If they do, I hope you're prepared. Or, are you going to trust that Bernanke and his Fed cronies will figure it all out during their two-day monetary policy meeting next week? If not, then I advise you to take, what could be, your last chance at protecting yourself from not only next week's flip-flopping market, but the deteriorating dollar as well.
Currency debasement is one of the favored and recurrent tricks of the looter class. Bereft of the modern printing press, the Romans resorted to clipping their metal coins, a practice most prevalent during the reign of their infamously pyromaniacal emperor, Nero. The idea was simple enough: Boss Man calls in ten coins...then reissues eleven, fashioned out of the same amount of metal. And, voila! Wealth has increased by 10%!
Here in Europe, where the so-called PIIGS crisis has been dragging on like a World Cup penalty shootout, it's business as usual on the streets. The Germans produce. The Spaniards lounge. The Greeks protest. And the French shrug and politicians put on a show for their voters, vowing to "do something" about the mess they themselves caused.
AMERICA'S GROWING GOVERNMENT - OneNewsNow.com
While some believe President Barack Obama's stimulus programs have been good for the economy, a noted author and commentator points out that government has grown 25 percent during Obama's three years in office. Obama shocked the nation last Friday when he declared that America's "private sector is doing fine." But Lowell Ponte, co-author of The Inflation Deception: 6 Ways Government Tricks Us and 7 Ways to Stop It!, says that is anything but true.
TWO VISIONS OF AMERICA - PR
"President Obama lacks the maturity to either compromise or admit that any of his disastrous economic policies have failed. He has become a 'Blame Duck' President, who relentlessly blames others for everything that goes wrong and ducks taking responsibility even though he has been President for more than three years," says Lowell Ponte, co-author of The Inflation Deception and Crashing the Dollar.
"Yet Mr. Obama claims that everything from President George W. Bush to the troubles in Europe - and not he - are to blame for the fear and uncertainty that are holding back investment and hiring in the United States. Mr. Obama said 'No, I don't believe the government is the answer to all of our problems,'" says Ponte, "yet the only solutions Mr. Obama offered require higher taxes and bigger government, a vision of America as one big family run paternalistically by Godfather Barack Obama. This is a vision of America's future that I don't share."
CIRCLING THE DRAIN - Tom McLaughlin.blogspot
Greece is the canary in the coal mine of financial collapse because they've been living the longest on borrowed money and borrowed time. Leaders there who tried to cut entitlements saw riots in the streets and were soon voted out. Germany is getting tired of lending Greece money for their unsustainable lifestyle, much the same way China is leery of lending more to the United States. Germany wants to make Greece's continued membership in the Eurozone difficult enough that they'll decide pull out. Then the task will be preventing a domino effect of Italy, Spain, Portugal, and Ireland falling down as well.
THE SOLUTION TO CHRONIC GREEK CORRUPTION - CNBC
"The world's second-biggest retailer behind Wal-Mart" reads one headline on Friday. Corruption in Greece is one of the major factors dragging down the country's economy. The estimated $1.8 billion spent on bribes by Greeks last year wouldn't pay off its bailout debts, but it might give its people more spare cash to deal with belt-tightening elsewhere. The problem can only be tackled by starting at the very top of the food chain. "The political system is at the heart of almost everything here in Greece and that includes corruption," said Angelos Syrigos, of Transparency International Greece, to CNBC.
OBAMA JOBS PROGRAM: HELP ILLEGALS COMPETE WITH AMERICANS FOR SCARCE JOBS - Breitbart
Today, the Obama Administration, in an obvious attempt to boost the President's flailing reelection campaign, announced that it would bypass Congress and rewrite the nation's immigration laws. The Obama administration will stop deporting and begin granting work permits to younger illegal immigrants who came to the U.S. as children and have since led law-abiding lives. The election-year initiative addresses a top priority of an influential Latino electorate that has been vocal in its opposition to administration deportation policies.
THE FUTURE OF MONEY: Preparing for a Global Currency Collapse - 10th Annual Interview with Michael Savage and Craig R. Smith, Swiss America Chairman. Call 800-289-2646 or click here! "Mr. Smith has written four important books accurately predicting the future of Gold, Oil, the Dollar and Inflation, in this interview we will cover the heart of his next book and vision to prepare America for an event never before seen in world history," says Dr. Savage. More at Real Money Blog...
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