The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Thursday, October 20, 2011

Cash is no longer king... at least in Louisiana

Money is an article based on confidence, and our government and Federal Reserve pull out all the stops to try to ensure to Americans, and the world that the dollar is still worth its value.  However, in the state of Louisiana, the actual dollar bill no longer a viable currency to be used in second hand transactions, and cash is no longer king.

House bill 195 basically says those who buy and sell second hand goods cannot use cash to make those transactions, and it flew so far under the radar most businesses don't even know about it.
 "We're gonna lose a lot of business," says Danny Guidry, who owns the Pioneer Trading Post in Lafayette. He deals in buying and selling unique second hand items.
 "We don't want this cash transaction to be taken away from us. It's an everyday transaction," Guidry explains.
 Guidry says, "I think everyone in this business once they find out about it. They're will definitely be a lot of uproar."
 The law states those who buy or sell second hand goods are prohibited from using cash. State representative Rickey Hardy co-authored the bill.
 Hardy says, "they give a check or a cashiers money order, or electronic one of those three mechanisms is used."
 Hardy says the bill is targeted at criminals who steal anything from copper to televisions, and sell them for a quick buck. Having a paper trail will make it easier for law enforcement.
 "It's a mechanism to be used so the police department has something to go on and have a lead," explains Hardy. - KLFY.com

The Daily Economist is going to make its own speculation on this new law.  As people begin to lose trust in banks and the solvency of the financial system, more and more people will be seeking purchases or barter without the government putting their hands into their business, for recording or taxation purposes.
The economic crisis wasn't created by the people, but by the banks and government agencies.  Now the government of Louisiana doesn't want to own up to who is responsible, and instead will implement draconian laws on the people of the state for simply spending the valid and recognized currency of the country.

Value Investors Club issues a terminal short recommendation on Bank of America

Value Investors Club, or VIC for short, has come to the resounding conclusion that Bank of America is a terminal cancer patient, and offers up the following recommendation for the stock.

Terminal short the stuffing out of it.

The thesis summary is rather self-explanatory: "Bank Of America equity is worthless. CFC-related litigation is going from bad to worse, it can lead to violent erosion of shareholders' equity which. Combined with the run on the bank that has slowly begun, the $53 trillion in derivatives, the lack of sustainable competitive advantages and the depleting political influence, I believe this is a terminal short." - Zerohedge
Since Bank of America is expecting the Fed, FDIC and Taxpayers to soon bail out the dying giant, perhaps this recommendation is only fair for the public to get their pound of flesh before the too big to fail institution robs them blind.

Ireland's Paul Moran tries to make gold from his own sorcerer's stone

Alchemy has a long tradition of chemists, scientists, and even amateur hacks trying to change base metals into gold or other valuable elements.  But one man in Ireland took this to the extreme when he tried to use his own feces as a 'Harry Potter' type sorcerer's stone and turn it into gold.

Unfortunately, he failed to recognize that waste products naturally turn into fuel, not metal, and his actions helped create a fire that threatened his neighborhood.

A man from Northern Ireland has been jailed after an experiment in which he attempted to turn his own faeces into gold went wrong and started a fire in a block of flats.
Paul Moran will now serve three months in jail and a further 12 months on license after the failed experiment caused a fire at his Housing Executive home in Derrin Park, Enniskillen.
Moran admitted arson and endangering the lives of others in the fire, which reportedly caused over £3,000 worth of damage. - Yahoo News
We at the Daily Economist do not advocate people to aspire to such desperate measures in these difficult economic times, but perhaps the poor guy mistook a lavoratory for a laboratory.

Wednesday, October 19, 2011

Billionaire Steve Wynn's Rant on Obama, jobs, and the economy during Q3 Conference Call

Billionaire and Casino Mogul Steve Wynn spoke at his Q3 conference call to shareholders, and unequivocally blamed President Obama and his leadership (or lack of it) for the destruction of jobs and the economy.  Lack of direction and fear of Obamacare and regulatory impacts by the administration are the prime reasons why Wynn has chosen not to grow, and build upon his current holdings.

http://soundcloud.com/user5452365/wynn-conf-call/s-vVO8D

You can click here to listen to the entire conference call. 

Steve Wynn is apolitical, even telling investors he has supported more Democratic candidates then Republicans, but in the current financial and economic crises, there is no one to blame but the person in charge.

Insider reports the truth about the bias and death of main stream media

For years, conservatives have ranted at the obvious bias of the main stream media ignoring many stories, and providing baised propoganda for the liberal establishment in Washington.  All one has to do is remember Chris Matthews of MSNBC on Obama's election night to remember his famous words.

"It is my job to ensure that Obama succeeds."

As the destruction of the US grows economically, politically, and in all aspects of society accelerates, an insider to that very same media has finally spoken out on how they have failed America, and how that failure has led to death of the vaunted 4th estate.

Someday, cultural historians will look back on the early 21st century and speculate about what killed the credibility of America’s so-called liberal-media elite.
They will ask, Were the wounds self-inflicted or the product of a methodical plot?
Make no mistake about it. We did this to ourselves.
We’ve been out of touch with what people on the streets are thinking. The problem is twofold. We didn’t care to listen to them, and by the time we heard them we had missed the opportunity to break the story and inform the public. We were followers, not leaders.
To be objective — like everyone says the media ought to be, but seldom are — and blunt, let me post this simple question: Why should anyone believe us any more? - Marketwatch
The refreshing admission by an insider of the elite media shows just how powerful the alternative media and internet reporting is.  Americans all have an ingrained perspective, or bias themselves, and want to go to news sources that provide information they cannot find in the primary media.  That news used to be provided by the establishment, but no longer, as the death of mainstream media is forcing many in the old guard to look at themselves and realize their prostituting to money and political persuasion are the nails being driven into their own coffins.

The debt reality for the American people

A new study out shows that even with all the hoopla about Congress dedicating itself to cutting waste in Washington, federal spending is actually up 5% this year.

Meet the new bosses... same as the old bosses.

In fact, in the first nine months of this year, federal spending was $120 billion higher than in the same period in 2010, the data show. That's an increase of almost 5%. And deficits during this time were $23.5 billion higher.
 These spending hikes haven't stopped many analysts from claiming that the country is in an age of budget austerity, one that's hurting economic growth. - Investors.com
The thing is, little of that additional spending went to help the American people in any way.
Now, the IMF has issued a new chart on per capita debt, intrinsically tied to our government spending.  The chart shows that our debt is growing much faster than our GDP output, and it basically shows that the US has crossed the Rubicon of insolvency not only at the Federal level, but at the individual level as well.

Chart courtesy of the IMF via Zerohedge

Monday, October 17, 2011

New poll shows Americans blame Washington more than Wall Street for economic problems

Three years into the Obama presidency, and the American people are no longer falling for the 'blame Bush' mantra anymore.  In fact, in a recent poll by The Hill, 56% of Americans blame Washington, including Congress and the President, for the currency economic problems much more than they are blaming Wall Street.

Surely Obama is neither the first (nor last) to recognize that the scapegoating of a "minority" group (as the Wall Street "1%" clearly is) and use it as a catalyst for class warfare, is a historically very successful tactic. Well, while thousands of people may express their displeasure with their plight openly before the traditional symbols of Wall Street, it would appear that Obama is failing in his attempt at global diversion from the place where popular anger should truly lie: Congress, Senate, and of course, the White House, without whose (and by 'whose' here we clearly envision Tim Geithner, Hank Paulson and Ben Bernanke) blessings Wall Street would not exist in its current form. Yet it does, and many have figured that out. According to a brand new poll by The Hill, "in the minds of likely voters, Washington, not Wall Street, is primarily to blame for the financial crisis and the subsequent recession. - Zerohedge

The sad thing is... the leaders in Washington are so inept, even when the American people are ready to hang Wall Street Bankers (real and in effigy), politicians can't take advantage of it, and instead, become the primary targets on the economy.

Occupy Wall Street: Marine confronts NYPD for violence against unarmed Americans

It is amazing to think how our military puts their lives on the line in foreign countries while some sworn law enforcement accept money from banks and private corporations to inflict violence on unarmed American citizens for simply speaking their minds, and sharing opinions on what they perceive is wrong with the economic environment in our country.


Marine lambastes NYPD as cowards for inflicting violence on unarmed Americans.

And as for proof that some law enforecement agencies are bought and paid for in this debate?

This is from a press release by JP Morgan courtesy of The Intel Hub.


When people no longer have anything to lose, they lose it. - Gerald Celente

Global Debt Clock: 43 Trillion and counting

Many Americans have seen the websites that contain the National Debt Clock, and the US's over $14 trillion in debt.  Now we can add a new debt clock to the mix, only this one is a complete global debt clock, with a price tag of over $43 Trillion and growing.

Courtesy of the Economist

In 2009, the global GDP was $58.26 Trillion dollars.  So with the current global debt at $43 Trillion, the debt is now 74% of total GDP.

For countries like the US, their debt is 98-100% of GDP, making them insolvent.  At the going rate of debt rising internationally, the entire world will be insolvent within 3-5 years.

Is it any wonder we are seeing an Arab Spring, riots in Europe, and Occupy Wall Street?

Gold as money: China still buying gold in preparation for new global currency

If you rely upon the manipulators at the FED, CME, and CFTC who program Americans into believing that gold is not only a commodity, but a bubble that has reached its peak, then all you need to do is look outside the confines of the United States to realize that nearly every country East of Moscow believes gold is money.

New and recent charts show that not only is China buying gold in massive quantities as deflation drives down the price in the West, but they appear to be buying it in preparation for a new global currency to replace the dollar, and in their minds, that currency will be the Chinese Yuan.

CFTC data shows that hedge fund managers, large speculators and gold and silver traders increased their net-long position in New York gold and silver futures. Speculative positioning in the market remains at very low levels after sharp liquidation which suggests gold may have bottomed and should rise from these levels.
Hong Kong, the world's third-largest gold trading centre, has become the world's first place to offer gold trading in yuan, further positioning the yuan or renminbi as a potential global reserve currency.
Hong Kong’s Chinese Gold & Silver Exchange Society, a century old bullion bourse, has introduced gold trading quoted in Chinese yuan, making it more convenient for Chinese people and high net worth individuals (HNWs) holding yuan to invest in the precious metal and opening a new way to hedge.  - Goldcore via Zerohedge

One year goldcore/bloomberg chart on Gold purchases in Yuan/Renminbi

So while Europe and the US burn under a new liquidity crisis, China is moving their chess pieces into position for the future.  And they see the future in a gold-backed Chinese currency, not the fiat dollar or Euro.