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Jim Rogers: ‘This Is Too Insane – and I’m Afraid We’re All Going To Suffer fo r the Rest of This Decade’

http://lewrockwell.com/rogers-j/rogers-j186.html

Jim Rogers: ‘This Is Too Insane – and I’m Afraid We’re All Going To Suffer for the Rest of This Decade’

by Tekoa Da Silva
Bull Market Thinking

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I was able to reconnect with Jim Rogers this morning out of Spain, legendary co-founder of the Quantum Fund with George Soros, author of Hot Commodities, and chairman of the private Beeland Holdings.

It was an especially powerful interview, as Jim spoke towards the relentless downward pressure on gold, the upward explosion in interest rates, central bank money printing, and how to protect yourself ahead of the disastrous times he sees coming.

When asked if we’re seeing forced liquidation leading the smash down in gold this morning, Jim said, “We certainly are. There are a lot of leveraged players who are now being forced to sell. Usually when you have this kind of forced liquidation, you’re getting closer to a bottom, maybe not the final bottom, but certainly close to a bottom. I even bought a little bit [today].”

With regard to the intense bearish news stories being published on gold, Jim suggested investors shouldn’t ”Pay [much] attention to other people. I pay attention to what’s going on…Obviously with gold collapsing I know about that – but I don’t listen to other people.”

Over the last few years Jim has spoken extensively on shorting government bonds, and more recently, the 10-year U.S. treasury yield has rocketed higher (with a corresponding collapse in value). When asked if now is a good time to be covering those short bond positions, he explained that, “I’m grappling with that question as we speak…I’m not short government bonds, [but rather] I’m short junk bonds on the theory that they will suffer the most when the bond market finally breaks. The junk bonds will go first, [along with] emerging market bonds. So I’m trying to figure out what to do, but I am not covering my shorts [just yet].”

Commenting on the Fed’s historical ability to control the bond market, Jim said, “We’re getting to that point where either one of two things are going to happen; either central banks are going to stop all this [money printing], or the market is going to force them to stop it. It looks like we may be having a juncture of both…where the Fed is getting worried…and at the same time, the market is jumping in and saying, ‘Yes, it’s insane what you’re doing, and this has to end.’ So we may have a healthy convergence of both. And if it’s not ending now, it’s going to end sometime in the next year, because this cannot go on – it’s too insane.”

When asked about the explosive riots occurring in Brazil, Jim warned to prepare for much more, in that, “This is the first time in history where you’ve had all the central banks in the world printing money at the same time. Europe, Japan, America, and the UK, all, are frantically trying to debase their currencies…I’m afraid that in the end, we’re all going to suffer perhaps, worse then we ever have, with inflation, currency turmoil, and higher interest rates. As I say, this has never happened before, it’s never been a good policy in the long run, so I’m afraid we’re all going to suffer for the rest of this decade from this crazy, crazy money printing.”

As a final comment to investors looking to protect themselves from these impending disasters, Jim said, “The way to protect yourself is to own real assets…because that’s the only thing which will protect you as currencies debase.”

“If you have money in the financial system and the financial system collapses,” he added, “even though you may have done nothing wrong – you may suffer because somebody else did something wrong. So you need to be very careful about where your assets are in the financial system, or have strict control over them yourself, so that you’re not going to lose them.”

Interview with Jim Rogers (MP3)

June 28, 2013

Jim Rogers has taught finance at Columbia University’s business school and is a media commentator worldwide. He is the author of Adventure Capitalist, Investment Biker, Hot Commodities, A Gift to My Children, and A Bull in China. See his website.

Copyright © 2013 Bull Market Thinking

The Best of Jim Rogers

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The Wonderful American World of Informers and Agents Provocateurs by Todd Gitlin and Tom Engelhardt

http://www.lewrockwell.com/engelhardt/engelhardt458.html

The Wonderful American World of Informers and Agents Provocateurs

by Todd Gitlin and Tom Engelhardt
TomDispatch

Recently by Tom Engelhardt: Nuclear Terror in the Middle East

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Back in the early 1970s, I worked for Pacific News Service (PNS), a small antiwar media outfit that operated out of the Bay Area Institute (BAI), a progressive think tank in San Francisco. The first story I ever wrote for PNS came about because an upset U.S. Air Force medic wanted someone to know about the American war wounded then pouring in from the invasion of Laos. So he snuck me onto Travis Air Force Base in northern California and into a military hospital to interview wigged-out guys with stumps for limbs who thought the war was a disaster. In some cases, they also thought we should have bombed the Vietnamese “back to the stone age.”

I was a good boy from the 1950s and sneaking onto that base made me nervous indeed. It was also the most illegal act I encountered at either PNS or the institute in those years. We did, of course, regularly have active duty antiwar soldiers and members of Vietnam Veterans Against the War pass through our office, and we had an antiwar GI in Vietnam writing for us under a pseudonym. (At some point, we found out that the Pentagon had actually tracked down and interviewed every soldier in Vietnam with that pseudonymous name in its attempt to uncover our journalist.)

In any case, we doggedly researched, reported, wrote, and edited our stories on U.S. war policy, which we syndicated, with modest success, to mainstream newspapers as well as what, in those days, was romantically called “the underground press.” The only hints of “violence” you might have stumbled across in our office would have been discussions of the violence of U.S. war policy.

So imagine my surprise – okay, I shouldn’t have been, but I was anyway – when years later one of my co-workers got his FBI files thanks to a Freedom of Information Act request, and it became clear, on reading through those heavily redacted, semi-blacked-out pages, that there had been an informer in our office, spying on us and feeding information to the Bureau. If that was true in a modest place like PNS/BAI, where wouldn’t there have been such spies in the world of the antiwar movement? In fact, U.S. government informers and sometimes agents provocateurs were, it seems, a widespread phenomenon of those years. It’s a story that has never fully been told, in part obviously because the information to tell it just isn’t fully there. By far the best account I’ve read on the subject, particularly when it comes to agents provocateurs – government agents sent in to provoke violence – was a section of Todd Gitlin’s 1980 book The Whole World Is Watching: Mass Media in the Making and Unmaking of the New Left.

Recently, as Edward Snowden’s National Security Agency revelations about the high-tech gathering of global (and domestic) communications of every imaginable sort began unspooling, Gitlin’s work came to mind again. I had certainly been aware of how many post-9/11 “terror” cases against American Muslims rested on the acts and testimony of government informers, who sometimes even provided (fake) weaponry to hapless plotters and the spark to begin plotting in the first place. I began to wonder, however, what we didn’t know about the low-tech side of America’s massive intelligence overreach. So I picked up the phone and called Gitlin. The answer, as his piece today indicates, is one hell of a horrifying lot. Among the few outfits to pay significant attention to spies and informers in the ranks of groups opposed to some aspect of Washington’s policies, the ACLU stands out. In fact, in a map that organization created, “Spying on First Amendment Activity – State by State,” you can take a Mr. Toad’s wild ride through what’s known of the universe of the twenty-first century American informer. TomDispatch is pleased to follow up with a Mr. Todd’s wild ride through the thickets of American intelligence clearly on the march domestically. ~ Tom

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The Rational Market Myth by Paul Craig Roberts

http://lewrockwell.com/roberts/roberts400.html

The Rational Market Myth armageddon without nukes

by Paul Craig Roberts
PaulCraigRoberts.org

Recently by Paul Craig Roberts: Stasi in the White House

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One of the myths of economics is that markets are rational. Theories are based on this assumption, and the belief that markets are rational fuels the argument against regulation. The market response to the Federal Reserve’s June 19 statement that it will taper off its bond purchases if its forecast comes true is unequivocal proof that markets are irrational.

The Federal Reserve’s statement that it “currently anticipates that it would be appropriate to moderate the monthly pace of purchases [of bonds] later this year” depends on a very big if. The if is the correctness of the Fed’s forecast of moderate economic growth and employment gains.

The Fed has not stopped purchasing $85 billion of bonds each month. So nothing real has changed. Indeed, there was no new information in the Fed’s statement. It has been known for some time that, according to the Fed, its bond purchases will gradually cease.

In response to this repeat of old information, the stock and bond markets sold off in a major way on June 19-20. This market response to the Fed’s statement indicates that the Fed’s forecast is unlikely to come true. Low interest rates and a high stock market are totally dependent on the liquidity that the Fed is injecting by printing $1,000 billion per year. If this liquidity is not injected, what will sustain the markets? If the markets crash and interest rates rise, how can the Fed expect recovery?

In other words, the participants in the stock and bond markets know that the markets are bubbles created by the printing press. There is no real basis for the high stock and bond prices. The prices are an artificial reality created by the printing press. Rational markets would take into account the printing press element and would price stocks and bonds at a much lower level.

Zero real interest rates mean that there are no risks. But how can there be no risk in Treasury bonds when the debt is growing faster than the economy?

Normally, high stock values mean strong profits from strong consumer income growth and retail sales. But we know that there is no growth in real median family income and real retail sales.

I suspect that the reason the Fed made the announcement, which seems to be derailing the Fed’s forecast of recovery on which the announcement depends, is to relieve pressure on the US dollar. For several years the Fed has been printing 1,000 billion new dollars each year. There is no demand for these dollars. So far these dollars have inflated stock and bond prices instead of consumer prices. But the implication for the dollar’s price or exchange value in currency markets is clear. The supply is increasing faster than the demand. If the dollar falters, the Fed would lose control. Rising import prices would soon drive domestic inflation and interest rates far higher than the Fed’s targets.

Washington has succeeded in getting Japan and the EU to print yen and euros in order to eliminate the likelihood of flight to other large currency alternatives to the dollar. Smaller countries have also had to print in order to protect their export markets. With so many countries printing money, the Fed’s statement implying that the US might stop printing makes the dollar look good, and, indeed, the dollar rose on the currency exchange markets.

Having neutralized the alternative currency threat to the dollar, the Fed and its agents, the bullion banks, the banks too big to fail, are still at work against the gold and silver threats to the dollar. Massive short selling of gold began at the beginning of April. Again on June 20 massive shorts of gold were sold at a time of day chosen to maximize the price decline. Only those who intend to drive down the price would sell in this way.

Since QE began, the Fed has deprived retirees of interest income and has forced retirees to spend down their capital in order to pay living expenses. Judging from the initial market response, the Fed’s latest policy announcement is adversely impacting bond, stock and real estate investors, and the manipulation of the bullion markets continues to wreak destruction on wealth stored in the only known safe haven.

How can a recovery happen when the Fed is destroying wealth?

The Fed’s irrational behavior could be seen as rational if the assumption is that the Fed’s intent is not to save the economy but to save the banks. As the Fed is committed to saving the banks “too big to fail,” it is likely that the banks know of the Fed’s announcements in advance. With inside information, the banks know precisely when to short the stock, bond, and bullion markets. The banks make billions from the inside information. The billions made help to restore the banks’ balance sheets.

Guy Lawson’s book, Octopus (2012), shows that front-running on the basis of inside information has always been the source of financial fortunes. In order to save the banks, the Fed now supplies the inside information.

How is this going to play out? I suspect that the recovery, although officially a weak one, does not really exist. However, thanks to statistical artifacts that understate inflation and unemployment and overstate GDP growth, the Fed and the markets think that a recovery of sorts is in process and that the unprecedented money printing by the Fed will succeed in shifting the economy into high gear.

roberts2.jpg?_cfgetx=img.rx:1091;img.ry:1091;<img src=”roberts2.jpg” width=”120″ height=”165″ align=”left” vspace=”7″ hspace=”15″>No such thing is likely to happen. Instead, as 2013 progresses, a further downturn will become visible through the orchestrated statistics. This time the Fed will have to get the printed money past the banks and into the economy, and inflation will explode. The dollar will collapse, and import prices – as globalism has turned the US into an import-dependent economy – will turn high inflation into hyperinflation. Disruptions in food and energy deliveries will become widespread, and a depreciated currency will cease to be used as a means of exchange.

I wouldn’t bet my life on this prediction, but I think it is as likely as the Fed’s prediction of a full recovery that allows the Fed to terminate its bond purchases and money printing by June 2014.

Americans, who have been on top of the world since the late 1940s, are not prepared for the adjustments that they are likely to have to make. And neither is their government.

June 25, 2013

Paul Craig Roberts, a former Assistant Secretary of the US Treasury and former associate editor of the Wall Street Journal, has been reporting shocking cases of prosecutorial abuse for two decades. A new edition of his book, The Tyranny of Good Intentions, co-authored with Lawrence Stratton, a documented account of how americans lost the protection of law, has been released by Random House. Visit his website.

Copyright © 2013 Paul Craig Roberts

The Best of Paul Craig Roberts

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Psychological trigger: what’s behind the official rage against leakers? | Jon Rappoport’s Blog

http://jonrappoport.wordpress.com/2013/06/24/psychological-trigger-whats-behind-the-official-rage-against-leakers/

Psychological trigger: what’s behind the official rage against leakers?

Psychological trigger: what’s behind the official rage against leakers?

by Jon Rappoport
June 24, 2013
http://www.nomorefakenews.com

Technocrats, who are obsessed with designing the future for all of us, are Globalists in sheep’s clothing.

Their plans coincide with the intention to direct the world’s economic and political activity from a central-management locus.

“For the greatest good of the greatest number.”

However, there is a glitch. And it is permanent. It appears suddenly, here and there, and it’s the kind of variable that won’t surrender to any sort of programming.

It’s so odd, even the population at large doesn’t notice it.

It’s the “unpredictable function.”

Behavior and thought that fit no pattern.

To go even further, it’s not really a function at all, except from the point of view of the technocrats who are trying to map it.

It’s the result of imagination deployed in such a way that the user experiences “cracks” between items of consensus reality. These cracks are emotions, thoughts, and sensations that are new.

There is no way to assess what such experience might lead to.

No map of behavior or prediction about where it’s going will be accurate or complete.

All maps count on the fact that people keep thinking and feeling along the same paths.

Most people do stay in the same worn grooves. They have no idea they can leave these paths or venture down new ones.

But such people are not all people.

Down through history, artists have imagined their way into non-consensus realities. This is not a trivial circumstance. It is a case of asymmetrical “cause and effect”—which is to say, unknown cause.

Unanticipated social and political response to tyranny can develop from this asymmetry.

The response comes from the root of a person: his creative faculty.

We look back on technical innovations of the past and conclude they are smooth transitions and accretions that are only the result of step-by-step improvements in science. But this is wrong. There are always unexplained gaps that are crucial.

When Gutenberg looked at an old screw press that was used to produce wine and oil, and then realized that other technical processes could be joined to make a printing press for books, he was “in a gap.”

He was changing the world with that inexplicable insight.

Of course, from our vantage point, it’s easy to break down any innovation and place it in context, among a serial and unbroken accumulation of knowledge, but that is an illusion.

At the center, there is always a human innovator with his imagination. From his penetration between the stones of consensus reality, he brings back an idea. He brings back something new.

His insight is unrecorded, because there is nothing to record. There is is only what he subsequently does with the insight. The rest is invisible.

The true account of our history, its major turning points, is rife with these leaps and gaps.

What technocrats of the modern age hope to do is translate the gaps into detectable processes, which can be described as brain activity at a micro l;evel.

The technocrats are of a religious faith in their ability to achieve this result.

But each time they claim to make a breakthrough, they discover, much to their disappointment, that their goal recedes further into the distance. What they discover implies more ignorance, not less.

For every assertion that consciousness is basically a passive process occurring at the level of brain, more unexplained human behavior arises.

The mad prophet of technocracy, Ray Kurzweil, now the director of engineering at Google, is famous for comparing creative capacity to chess.

Pointing out that computers have defeated human chess champions, Kurzweil goes on to conclude that all human activity assumed to be creative will soon be found to be replicable by software programs and algorithms.

Everything we once ascribed to the creative faculty will surrender to computers that can do it better.

But Kurzweil and his colleagues are wrong.

The “unpredictable function” will remain.

Bringing all this down to the human response to tyranny, the implication is vivid. No one can predict how humans who are willing to deploy their imagination will innovate. No one can say how humans, self-propelled by imagination and courage and a riverboat gambler’s sense of of adventure, will turn tyranny on its head.

Tyranny, at the core, is a mechanical organization of life. Imagination isn’t organization. It’s beyond that myth. It will always be beyond that myth.

Strange but true, the overwhelming numbers of humans on Earth are really in the camp of the technocrats. That is to say, they believe that everything ailing our civilization stems from a “bad program.” They believe that some kind of better program will save us all.

Which is exactly what the technocrats assert.

But the real answer to fascism is beyond programs. That is what people find so hard to swallow. They fear the absence of determinism. They want assured process and assured result.

They want pattern. They want symmetry.

However, at bottom, that is not what human life is. Life happens in the gaps, the leaps. In inexplicable creativity.

The creative act is not organized. It isn’t symmetrical or harmonious. It isn’t a mere mimicry of natural laws.

After the fact, many artists will explain their work by referring to nature. But that stems from the fact that these artists don’t understand what they are doing, or how it involves traveling beyond systems.

Imagination is as plain as the nose on your face, when that nose and that face are liberated from the matrix of pedestrian cause and effect.

The creative faculty is liberated.

That is ultimately why fascism and tyranny are ill-equipped to handle their asymmetrical nemesis.

Fascism is organization carried to an extreme. It can’t escape what it is. It tries to reduce and eradicate imaginative penetrations between the stolid pillars of consensus reality. It tries to plug the leaks.

But creative energy appears in unlikely places and with unexpected force.

Technocracy is an approach married to the premise that all human actions can be understood, patterned, placed in context, and mathematically described.

But the creative act deals with contexts as computers deal with data. It shifts them, breaks them apart, reformulates them. It goes even further. It discards them and invents new ones, as desired.

And it can operate without any context whatsoever.

That is the unspoken cardinal sin listed by the Great Church of the Information Age.

A great deal of the official rage against leakers of classified data stems from a basic frustration: the best systems in the world aren’t perfect.

This is the technocrat’s nightmare: “The system has holes. It’s incomplete. It can be picked apart. No matter how well we design it, someone wants to hack it.”

Of course someone does. Because someone doesn’t like air-tight life, which is no life at all.

Build a perfect labyrinth with hundreds of interlocking paths, and someone is going to come along with a lawnmower and cut a new path right out of the prison.

Jon Rappoport
The author of two explosive collections, THE MATRIX REVEALED and EXIT FROM THE MATRIX, Jon was a candidate for a US Congressional seat in the 29th District of California. Nominated for a Pulitzer Prize, he has worked as an investigative reporter for 30 years, writing articles on politics, medicine, and health for CBS Healthwatch, LA Weekly, Spin Magazine, Stern, and other newspapers and magazines in the US and Europe. Jon has delivered lectures and seminars on global politics, health, logic, and creative power to audiences around the world. You can sign up for his free emails at http://www.nomorefakenews.com

June 24, 2013

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CONSPIRACY: TWA Flight 800 Documentary – Top 10 Facts You Need To Know

http://lewrockwell.com/spl5/twa-800-documentary.html

CONSPIRACY: TWA Flight 800 Documentary – Top 10 Facts You Need To Know

by Sam Prince
Heavy.com

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Many of us remember the terrible tragedy of Trans World Airlines (TWA) Flight 800, which crashed off the coast of East Moriches, Long Island, on July 17, 1996 en route from JFK International Airport to Paris, France, killing all 230 people on-board.

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Heroes, fake hope, and real hope in the Matrix | Jon Rappoport’s Blog

http://jonrappoport.wordpress.com/2013/06/22/heroes-fake-hope-and-real-hope-in-the-matrix/

Heroes, fake hope, and real hope in the Matrix

Heroes, fake hope, and real hope in the Matrix

by Jon Rappoport

June 22, 2013

www.nomorefakenews.com

The occasion for this article is the controversy swirling around Edward Snowden, who recently exposed secret programs of the National Security Agency.

It’s about one corner of that controversy: should we accept him as a hero even if the possibility exists that he isn’t?

The Matrix is designed to stimulate certain emotions.

For example: “We had a hero. Then he was taken down. Now we will feel sadness, desolation, and eventually nostalgia for what might have been.”

For example: “We have a hero. Let’s not look too closely at what he is. Now we will feel hope, a joy at his victories, and a confirmation of our deepest dreams.”

In both examples, the vast majority of people are an Audience. They experience a vicarious sequence of emotions, by proxy.

Proxy equals passivity at the core of consciousness. It is in that deep passivity that the labyrinthine Matrix maintains its hold.

And to disturb the passivity in any way brings out complaints and protests. Their ultimate translation is: “Don’t bother me, I’m sleeping. I’m the Audience.”

Understand that we’re not talking about a person who, inspired by a hero, takes stock, and then swings into powerful action. No, we’re talking about spectatorship.

True inspiration leads to action.

The Matrix is about a round of feelings that dead-end.

Whereas real hope rides on the back of action.

But for most people, action is out of the question, because they can’t imagine what it would be. Nor can they find within themselves a profound and stirring desire that ignites imagination.

Working in toward the center of themselves from either desire or imagination, they draw a blank. The motor spins, but there is no traction, no signal that takes them out into the world.

They settle for fake hope, and when the source of that hope (a hero) is impugned, they boil and rage. Then they stifle those feelings.

They settle on: “Don’t bother me, I’m sleeping.”

If you tell them the world is being run by criminals, they say you are promoting futility. But what they really mean is, their pipe dreams that keep them in a hopeful state of suspended animation are being disturbed.

They are in a quiet war with themselves over the question: Can I create something powerful and meaningful?

Up until now, the only thing they’ve been able to create is a reaction against anyone who intrudes on their core trance-sleep.

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The CDC is lying to you again: flu fiction vs. flu reality | Jon Rappoport’s Blog

http://jonrappoport.wordpress.com/2013/06/20/the-cdc-is-lying-to-you-again-flu-fiction-vs-flu-reality/

The CDC is lying to you again: flu fiction vs. flu reality

The CDC is lying to you again: flu reality vs. flu fiction

by Jon Rappoport

June 20, 2013

www.nomorefakenews.com

I now have the official CDC flu-death statistics for the year 2010.

They were provided to me by Martin Maloney, who, some years ago, contacted me to show how the CDC was lying all the way along the line about numbers of flu deaths. Many thanks, Martin, for your good work.

2010 is apparently the most recent year for which the CDC has issued a final report. It was released on May 13 of this year.

The report comes through a sub-agency of the CDC, the National Vital Statistics System (NVSS).

On page 89 of the report, “Deaths: Final Data for 2010,” in Table 10, we find the following:

Influenza and Pneumonia [deaths]: 50,097.

Influenza [deaths]: 500.

Pneumonia [deaths]: 49,597.

In 2010, the CDC reports 500 deaths from the flu.

But the CDC PR people have trumpeted, over and over, that 36,000 people die every year in the US from the flu.

They’ve hyped this number, to emphasize how dangerous the flu is. They use the 36,000 number as a way to promote the flu vaccine. They use it to work for their pimps in the pharmaceutical industy.

Yet, their own numbers show 500 deaths in 2010, not 36,000.

Actually, if you dig below the surface of their PR, the CDC states in their literature that annual deaths from the flu range from about 3000 to 49,000.

This is obviously nowhere near the low 500-death figure for 2010.

And it isn’t only 2010 that’s at issue. In a recent article, I laid out how the CDC routinely reports, in the fine print, far fewer than 3000 flu deaths in a given year.