TheRevolutionToday: August 2011

Link to Post: The Bernanke's "Magical Powers"

More on the Bernanke box.

From Zerohedge:

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Zerohedge also has this short explanation of the differences between now and 2008.

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Link to Post: On Latest Price Drop In PMs

Buy, Buy, Buy, fundamentals remain the same as discussed previously. Hold for value preservation and gains. Why did they fall then? Margin hikes, same as last time, no fundamental changes, just regulations on leverage changes. Zerohedge has this:

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Link to Post: Democracy's Fiscal Incoherence

Gonzalo Lira puts forward an argument that democracies will always go bankrupt. I am pretty sure I don't agree with it wholeheartedly, but it is an interesting read. I'm not entirely sure what my argument against it would be. Always is over-broad, democracy is too narrow? Worth reading through for sure.

LINK TO POST (01/31/2011)

TheBurningPlatforn's tail of Bernanke's grandmother screwing may be explained by GL's argument?

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Link to Post: SEC Attorney Reveals that Agency Has Shredded Documents for Decades to Cover Up Wall Street Fraud

Washington's Blog:

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Link to Post: Social Upheaval

SovereignMan takes a historical look at social upheaval and revolution.

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NakedEmire has one with Marc Faber with more of the same (Revolution, Social Upheaval, and the Death of the Dollar),

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Washington expects "lawlessness" because of corruption of the leaders. I think that the people become lawless because their lawmakers corrupted the system for the purposes of the moneyed class making laws without value and thus reducing reliance on the rule of law for justice by the common person. History repeats, or at least revisits issues. Close enough.

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Link to Post: Gulf Well Leaking Again?

Washington's Blog:

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Link to Post: "Not a Minor Complication"

From Mish. Lists a few major complications and the post goes into a bit of detail about the Greece "loan collateral" deal, which is also a major complication. For once I think I agree completely with Mish, though probably not from the same foundation, it'll work this time.

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Link to Post: Venezuela's Gold

They want to get 99 tons of it back, and from JPM none the less, who doesn't have that much gold on hand. Zerohedge spotted this one.

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Update: Bloomberg's version of the story:

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Oh, and he's nationalizing the gold miners.

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Link to Video: Egypt, Still Up In The Air

Protesters still after freedom from a lot of different influences. Al Jazeera

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Link to Post: Rule of Law

The rules of law normally produce an efficient legal environment, which fosters many important human endeavors, when not abused. The persistence of the rule of law has pretty much failed to keep us from a sort of natural law which seems to remain when all other laws fail in their purpose. I see this as a much much wider issue that just being part of the "war on terror", it is systemic. DissidentVoice does use the "war on terror" as a good example of these practices though.

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Link to Post: NakedEmpire Asks a Couple Questions About 9/11

It is topical here because energy is money. Second one seems like pretty big news to me (note though the context because the title is misleading.)

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LINK TO SECOND QUESTION

Update: Better handling of second issue by Washington's Blog:

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Link to Post: War of the Worlds

Rich and poor. Market Oracle really goes on a nice point by point rant here.

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And a bit of doom from Acting Man on FOMC:

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A Bit of Good (non-monetary) News For A Sec.

Cancer breakthrough in research, University of Pennsylvania.

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Which will be useful in the future (Bad News Warning: Stop Now To Preserve Optimism):

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Link to Post: "UBS' Andy Lees On Why The US Economy Is, All Else Equal, Doomed "

Zerohedge spots this one. And it references fusion.

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Rioting in British Cities

In case you haven't been watching, the police shot another kid and everyone is setting stuff on fire. U.K. this time. Get on YouTube and see what the future holds.

Russia Today Video

More RT Video

Shop Looting on RT

RT Fire in Croydon

A Couple Pages by ABC

Link to Post: The Guy Who Failed to Use TurboTax Properly Is Calling The S&P Dumb

Geithner is berating the math skills of the S&P. A ZeroHedge spot.

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Rioting In Madrid

Via YouTube:

How to have a protest about money...

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...be chased by representatives of monetary authority...

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...and get beat by them for your troubles.

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Link to Post: A Good Overview

The BurningPlatform has this article which gives and overview of the US situation.

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Market Oracle has another good overview of the current US situation.

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Link to Blog: ZeroHedge: S&P Downgrades US Debt

Just had to copy this view of ZeroHedge into a post here, well worth seeing in my opinion. Go to ZeroHedge and see for yourself if you don't believe me. It's worth seeing the text under the first article link for their paraphrasing. Also, in the comments: "Circle the wagons fuckers, they're on to us!"

Joint Statement By The Fed, The FDIC, NCUA And OCC

Submitted by Tyler Durden on 08/05/2011 - 22:16 Presenting the joint statement by The Fed, the FDIC, NCUA, OCC. In essence: the Fed tells S&P to go fornicate itself. And for your corresponding pleasure, below are the media contact of note: Federal Reserve Susan Stawick (202) 452-2955; FDIC David Barr (202) 898-6992; NCUA David Small (703) 518-6336; OCC Bryan Hubbard (202) 874-5307

And Just Because.... "Is There A Risk The US Could Lose Its AAA Rating?" Tim Geithner: "No Risk"

Submitted by Tyler Durden on 08/05/2011 - 20:49

Peter Barnes “Is there a risk that the United States could lose its AAA credit rating? Yes or no?”
Geithner’s response: “No risk of that.”
“No risk?” Barnes asked.
“No risk,” Geithner said.

Silver Looks Good Right Now

Silver (or Gold at ~1600) at ~38-39 is a good buy right now, might go down to 35 in the short term, but w/ S&P downgrade and inflation it should hold value well when no other asset class does. It is beginning to look like it will take both a large margin hike and a further equities collapse globally to bring silver down to 35 (a 6% loss that is very very likely to be short term.) Was at 50 not too long ago, a return to that level would be more than 20% in gains. Fundamentals indicate it should go to 50 again, at the least, may go crazy high because of a number of independently powerful forces (inflation, trade debt., energy demand, market disorder, political disorder, non-existent US manufacturing, fraud in PM markets, huge un-backed paper PM market, fraud in Govt. Econ. Numbers, international demand, limited supply (of course) and tradition as a store of wealth through chaotic times all will push silver and gold higher as things develop over time.) The recent dip in silver prices associated with the market dip presents a good opportunity to buy in, in my opinion. Buy 90% junk silver coins from somewhere like apmex.com and hide them. You will probably pay 1-3% in fees and delivery depending on amount and source. Sell in 20 years.

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