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?

Monday, April 29, 2013

Growing student loan defaults forces Sallie Mae to retract selling bonds

On April 29, Sallie Mae, the nation's largest student loan organization, was forced to pull back a bond offering of $225 million as investors refused interest in the lender due to the growing number of defaults taking place across the country.



Student-loan company Sallie Mae SLM -1.35% canceled a $225 million bond offering on Thursday after about two weeks on the market, according to people familiar with the deal. The move may mark a line in the sand: Investors whose thirst for yield has revived all manner of riskier asset classes decided they weren't getting paid enough to buy at the offered price amid rising student-loan defaults.

In the case of the canceled Sallie Mae offering, rising defaults could have crimped the cash flow of the federally backed loans supporting the new securities, because more defaults would mean less excess, or residual, income after holders of the original loans were paid. - Wall Street Journal

Even as central banks in Europe and the U.S. are willing to buy toxic assets like mortgage backed securities, which carry a risk threashold well above that of student loans, it appears the rubicon has been crossed by investors who no longer want to be fooled by the bubbles free money printing and quantitative easing provide, in an economy that is declining.

Wednesday, April 17, 2013

Asian countries buying gold hand over fist as central banks dump paper to drop price

Since last Friday, the gold spot price fell more than 9% as central banks dumped up to 500 tons of paper gold onto the markets.  These actions dropped gold from $1500+ to a low of $130 on April 15.

But even as the Western central banks work to manipulate paper gold prices, Asian countries such as China, Austrailia, and Japan are using this price drop to purchase tons of physical gold, at discounted prices.


Australia:
Gold sales from Perth Mint, which refines nearly all of the nation’s bullion, have surged after prices plunged, adding to signs that the metal’s slump to a two-year low is spurring increased demand.
“The volume of business that we’re putting through is way in excess of double what we did last week,” Treasurer Nigel Moffatt said, without giving precise figures. “There’s been people running through the gate.”
“There’s been significant sales made as people see this as great value,” Mr Moffatt said. “Gold owners are very reactive to significant market movements.”

China:
Beijing gold store two hours to sell 20,000 grams of gold bullion trading volume of nearly 200 million

Japan:
Japanese individual investors doubled gold purchases yesterday at Tokuriki Honten, the country’s second-largest retailer of the precious metal.

In the U.S., many gold and silver dealers such at Kitco have been experiencing buying so great, they have run out of stock, and hiked premiums by more than 50% on physical ounces.  And according to many analysts, this may be the last time to get physical gold and silver before it either runs out, or becomes to price restrictive to purchase.

Philadelphia could be next to join Stockton in declaring municipal bankruptcy

Last week, a judge ruled that Stockton, California could declare bankruptcy to seek protection from their debt and creditors, and on April 16, it has been discovered that the city of Philadelphia is also investigating bankruptcy options in lieu of their massive debt and pension obligations.



Philadelphia Mayor Michael Nutter, whose municipality has the lowest credit rating of the five most-populous U.S. cities, will address investors at a conference financed by underwriters and closed to the public and the press.
The invitation bills tomorrow’s meeting as a chance to hear “Philadelphia leaders and investors discuss building the city’s future.”
Philadelphia is hoping to attract investors for the city, which is rated three steps above junk by Standard & Poor’s. The city and its authorities have $8.75 billion in outstanding debt as of September, according to bond documents. Philadelphia’s pension system is 47.6 percent funded this year, the documents say. - Bloomberg via Mish Shedlock

Should Philly be forced to sell city assets, or follow through with bankruptcy preceedings, then it will open the floodgates to a large number of other cities like Detroit, Camden, and perhaps even Chicago who are experiencing the same debt and underfunded pension levels.

Wednesday, April 3, 2013

Bank run searces on Google reach all time high after Cyprus account thefts

On April 3, google searches for the term bank run reached an all-time high, even surpassing the 2007 Lehman crisis, and the ongoing Greek and Spanish bank crises.

Courtesy of Google

Additionally, many top investors and economic analysts are saying that what took place in Cyprus is not just a one time event, but a blueprint for economies in the rest of Europe, as well as the United States.

There is an old adage that says, if you want to invest well, do what the rich do.  For anyone who had been front running the Cyprus banking haircuts, they would have realized that not only did 135 wealthy Cyprians move their money out of Cyprus banks before the bank holiday, but some of these elite included the President, and Finance Ministers who went on to agree to the theft of uninsured accounts.

Tuesday, April 2, 2013

What is Bitcoin and why is it now over $100 U.S. dollars

On April 1, the digitial currency known as Bitcoin grew its market value to over $100 U.S. dollars, doubling in just the past two weeks.  As European countries like Cyprus, Greece, and Spain look towards the ECB and IMF bailouts, then people are looking towards an alternative currency in the wake of failed confidence in the Euro.


But what exactly is Bitcoin, and how is it different than any central bank backed fiat money?  Those questions were answered in an interview between Tom Woods and Bitinstant's Erik Voorhees a few weeks ago.

Take a look.


Tuesday, March 26, 2013

Rick Santelli: It's better to be on disability than to work at minimum wage

On March 26, CNBC reporter Rick Santelli uttered the words that many in the alternative economic media have already known.  Welfare and disability pay more than working an average minimum wage job.

For someone in the mainstream to finally get it, and actually report it, is always a turning point in the propaganda media when they finally have no choice but to report the obvious.

CNBC's Rick Santelli notes, Disability payments (of which there are 14 million people covered in the US - none of which count towards the unemployment rate) pay around $13,000 per year (versus $15,000 for minimum wage work). However, Santelli exclaims, the people on disability get healthcare; and this program costs the US $300 billion per year. Is it any wonder that only 1% of those who were on disability in Q1 2011 have left? Santelli comments, "I'm not saying there aren't people that are on disability that shouldn't be, but much of it is illnesses like back pain... it's a judgment call," adding that, "without incentives, large issues go ...totally unfixed." - CNBC via Zerohedge


So we will go back to last November when a chart created by the Secretary of Public Welfare, showed that someone making $29000 will receive more in take home government benefits than another worker making $69000 after taxes (which go to the person making only $29000).

Monday, March 25, 2013

Starbucks CEO states he no longer wants belivers in traditional marriage to own their stock

In what could be one of the most aggregious remarks in the history of business, Starbucks CEO Howard Schultz stated at a shareholders meeting on March 24 that if you do not support gay marriage, and are instead, a believer in traditional marriage, then he doesn't want you owning Starbuck's stock.


How long until this mentality of DIVERSITY meanders into the belief that if you do not support a gay marriage agenda, then Schultz doesn't even want you drinking his coffee.

Church to lose $100 million as EU and ECB forge policy to steal lawful deposits

As Europe rejoices on March 25 as the ECB and EU complete a program to save the banks of Cyprus, other institutions in the island nation are not so jubilant.  The church of Cyprus, which is part of the Greek Eastern Orthodox church, is expected to lose $100 million of their money, as the Euro Zone bailout plan intends to steal 40% of everyone's money over $100 thousand euros.



The Orthodox Church of Cyprus has lost over EUR100 million reacted to its holdings in Bank of Cyprus. Church leader Archbishop Chrysostomos II, in comments on TV, noted that "Cyprus asked for 'crumbs' compared to large size of Europe’s budget," and that those responsible in Cyprus should be punished (he blames the outgoing government, Ministers of Finance, the Central Bank, and the Executive Directors of Banks) - "those that brought the place into this mess, should sit on the stool." - Church of Cyprus via Zerohedge

The church joins with former Russian KGB and current FSB depositors who themselves are expected to lose over $7 billion of their money, simply because they stored it legally in banks that corrupt ECB officials used to purchase toxic assets, derivatives, and massive bonuses.



Funny how legal depositors can lose 40% of their money simply for being a good customer, but a bank like HSBC can earn 90% of their windfall for providing money laundering services to known terrorists, drug cartels, and international criminals.

Friday, March 15, 2013

Congress: The best politicians J.P. Morgan can buy

With Congress finally taking time from its busy scehedule of Kabuki theater on March 15 to hold hearings on J.P. Morgan, and their evidenced fraud and deceipt in the markets, it is vastl important to understand and realize that like Jon Corzine and MF Global, or Angelo Mozzilo and Countrywide, all this blustering by the politicians will in the end, accomplish nothing.

Why?  Because a large portion of these same politicans are bought and paid for by J.P. Morgan, and their massive lobby efforts in Congress.

Courtesy of Open Secrets

And of course, all one has to do is look at the biggest villain of corporate largesse, and the one Wall Street owns lock, stock, and barrel.  None other than Democratic Senator from New York, Chuck Schumer.


Remember these numbers when you watch the Senate today appear to throw hardball questions at the current and former executives of J.P. Morgan, and know that when its done, each one will be laughing all the way to the bank.

Sunday, March 3, 2013

The 12 ways to get rid of student loan debt through bankruptcy

In 2005, Congress, along with President Bush, changed the bankruptcy laws that made discharging certain debts harder to do for many Americans.  While seemingly innocuous eight years ago, the one area that has grown the fastest in the arena of consumer debt is the one area that is exempt from discharge under a bankruptcy.

Student Loans.

In Jan. of 2013, student loand became the largest consumer debt held by the American people, even surpassing that of credit card debt.  And with President Obama passing legislation to have the Federal government control over 85% of student loans, the government now holds the Damaclese sword over tens of millions of Americans who are burdened with up to six figure debt, with little opportunity to pay them off.

But there is hope, and by this, certain loopholes by which one can discharge their student loan debts in a bankruptcy.  It does not cost much, except the fact that it entails a person selling their soul to the government machine, and placing their future entirely in the hands of 'big daddy'.

According to the law, the judge has the discretion to dissolve any debts or judgements when there is sufficient cause to call for an 'adversary proceeding'.  In this proceeding, a judge may determine there are adequate reasons to have debts absolved, even under the laws pertaining to bankruptcy.

But in doing so, the individual must prove that they have mitigating circumstances which make it impossible for them to pay off these debts.  One primary reason to seek an adversary proceeding is mental illness.

Under the hopelessness criteria, one can demand a proceeding is they can determine that they have a serious mental or physical disability, for the debtor or the debtor's dependents.

What this means of course, is that you will officialy be rules mentally or physically ill, and place yourself in the database which now limits other rights and liberties one would have without government determination.  ie.... you would not be allowed to own a gun, and the government at their discretion, can force you onto medical procedures or prescription drugs against your will and desire.

Of course, there are 11 other alternatives to seeking recourse to have student loan debts discharged under special circumstances in a bankruptcy, and below are a list of options one can use to call for an adversary proceeding.