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?

Wednesday, May 29, 2013

Vegas and Macau make big bet on high rollers as economy pushes away the small gambler

The economic downturn has been disastrous to a number of industries, but perhaps no greater to the playground of America, Las Vegas.  As of May 28, the former world stage for fun and gaming has been relegated to third place on the list of global gambling spots behind Macau and Singapore, and is making a huge bet on attracting high rollers, while limiting its options for the pocket change gaming public.

Image courtesy of Gameroom Depot.ca

In Sin City, where over-the-top is always the sales pitch, lavish nightclubs featuring a heart-pounding party have become the backbone of a billion-dollar industry that is soaring while gambling revenue slips.

The rise of the Vegas super-club coincides with the decline of the town's gambling supremacy. The tiny Chinese enclave of Macau surpassed the desert oasis as the world's top gambling destination in 2006. Singapore is on track to claim the No. 2 spot. - Huffington Post

Additionally, the global leader in gambling stops is spending billions of dollars in creating a dreamland for high rollers, with one destination offering a royal treatment at the low cost of a $1.6 minimum betting requirement.

With the political transition completed, the VIP business is back to normalcy - as evidenced by Sky 32, an elite oasis of luxury on the 32nd floor of the Galaxy Macau casino, offers commanding views, a waterfall, a bar with vintage single malt whiskeys - and six sumptuous rooms where players must commit to betting at least 10 million yuan ($1.6 million). - Zerohedge


Like the luxury automobile industry, that rarely sees economic downturns during recessionary periods, the rich will always spend lavishly despite the poor and middle class tightening their belts.  And as middle America falls back to local casinos on Indian reservations, or home poker games to satisfy their gambling lusts, the world of gaming is making huge bets that the elite will always want the world's finest, and are willing to pay to play no matter the financial cost.

Monday, May 20, 2013

Federal Reserve job opening lets you test new ways to screw the public

On May 20, the Federal Reserve tweeted a new job opportunity for public application.  The title of the job is Penetration Tester, and as most Americans know, the entity that controls monetary policy and the strength of the dollar has numerous employees already trained in sticking it to us.
The Job Description and application can be found here.

The Daily Economist is wondering however, if women applicants are given higher priority, as we know the current administration is an equal opportunity exploiter.

Monday, May 13, 2013

Coin clipping: government seeks to change metals in future coins

During World War II, the government exchanged metals suck as nickel for steel in coins for metals to help supply the war effort.  However, these actions were short term, and lasted just a few years.

Now, with inflation causing metal prices to rise, and value coins greater than their face value, the government is once again looking to replace metals such as nickel and copper with steel and perhaps metals with little value.

Photo courtesy of Coin News.net
A measure introduced in the U.S. Congress seeks to replace the base metal of most American coins with iron. The move would slash the nickel and copper content of U.S. coins to a fraction of today’s already reduced levels. Like past changes in metal content, the bill represents a logical continuation of currency debasement and calls into question the strength of U.S. fiat currency—yet another sign of the decline of the global monetary system.

Congressman Steve Stivers (R-OH) introduced the bill, H.B. 1719—the “Cents and Sensibility Act”—on April 24. It mandates that pennies, nickels, dimes and quarters be composed primarily of steel; specifically U.S. produced steel. He presents the bill as a budget measure, stating, “This legislation is a common-sense solution to decrease the cost of minting our coins. Not only will it cost less, but steel is an American resource that we have here at home and can be manufactured right here in our backyard.” His office asserts that, according to the House Financial Services Committee, the U.S. government would save up to $433 million over 10 years. - Gold Silver.com

After 1964, the Federal government removed silver from its minted coinage, and began the process of clipping coins to be primarily symbolic versus valuable.  Now, if this new bill passes, a pocket full of money will soon just be stamped steel disks.

Friday, May 10, 2013

Bloomberg expanded: New York cracks down on use of butter

It is bad enough when an elected official, and part of the 1%, tries to tell citizens when and where they can smoke, and how much soda they can drink.  But now, the dictatorial control over the people in New York has taken a greater turn as officials begin regulating the use of butter in food production for schools and other public facilities.


Butter has quietly been making its way out of city schools' cafeterias, including as a condiment and an ingredient. First they went after the candy machines. Then they took aim at the sugary sodas. And most of the bake sales. And the greasy french fries at lunchtime. And now the latest target of the city schools’ push to fight childhood obesity is something as simple as butter. The spreadable delight has been banned from school cafeterias. It can’t be used for cooking or offered with bread. And now it’s the subject of an aggressive crackdown that threatens the livelihood of school kitchen managers who’ve dared to order the illicit treat.  - New York Daily News

In the faux war on obesity, uneducated public bureaucrats have focused on natural products such as butter, sugar, and salt to impose unnecessary controls over the citizens of New York. while at the same time, doing nothing to stop the scientifically proven detriments of MSG, GMO, and HFCS, who's introduction into the processed food industry over the past 40 years has been the primary cause of childhood, and adult obesity.

In the end, corporate mogul's like Bloomberg, and political hacks like those in the New York legislature, find it easier to blame and go after nature, and what has been used in diets for thousands of years, than take on the corporations that fund their campaigns, and willingly cause continuing aggravation for the people of New York state.

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).