U.S. mortgage applications fell to their lowest level since February, in numbers released today. With interest rates guaranteed to go higher (thanks to the collapse in U.S.
Not all the efforts of the U.S. propaganda-machine are directed at generating false-hope in the U.S. economy and warping economic statistics beyond recognition. A large component of this campaign is to undermine confidence in other economies – in order to try to make investing in U.S. assets appear to be the least-worst alternative.Of course, there is no need for the U.S.
The comedy duo of Bernanke & Geithner are still promising an “economic recovery” for the U.S. in the second half of this year, and their faithful, media talking-heads continue to parrot this nonsense.Don't get me wrong here. I'm not suggesting that we couldn't see a positive, GDP reading for the U.S. in the 3rd quarter.
With another, fraudulent U.S. monthly jobs-report due out tomorrow, the U.S. propaganda-machine is uttering one absurdity after another.Today, it was trumpeting the news that “continuing claims” fell last month for the first time in five months.
Can anyone still remember back to the fall of last year, when the U.S. financial crime syndicate whined about how it needed HUGE, government hand-outs – in order to be able to lend more money, and rescue the U.S. economy?
While the corporate propaganda-machine (i.e. the “free press”) provides little in the way of “news” any more, it has made up for this deficiency (somewhat) by becoming a regular source of comedyThe script-writers at Reuters penned their own hilarious farce on May 31st, titled “Federal Reserve Puzzled by Yield Curve Steepening”.
There was a very interesting article in the Financial Times on May 30th, the topic: that the U.K. government was completely aware of the risk of a financial sector meltdown, and the resultant insolvency of Ponzi-scheme banks like Northern Rock as far back as 2004.The U.K.'s bank-regulator, the Financial Services Authority, had conducted what it called “bank war games”.
One of my favorite sources for real statistics is John Williams' site: Shadowstats.com. For those not familiar with his work, Williams' is a highly respected U.S. economist, who has previously been invited to speak to the U.S. Congress.Williams has dedicated his site to producing authentic, U.S. economic statistics.
In “Part I” of this series, I provided a basic overview of what separates gold and silver from all other commodities, why gold and silver are so attractive today, and dispelled the popular myth that “bullion-ETF's” are the same as owning real, “physical” bullion.
For all the sophisticated “gold bugs” out there, there are not a lot of “revelations” in this commentary – so you might want to move along in search of something deeper. However, as retail investing in precious metals increases (it rose by nearly 400% in 2008), there are obviously many new, novice “gold-bugs” - and even larger numbers of the “gold-curious”.
