Jim Rickards……”A Must Listen To” Interview About The Economy And More

thestatedtruth.com | September 4, 2010

A must listen to interview with Jim Rickards about our economy and more.   We all need to be aware of the direction of things to come.   This interview from Jim Rickards will help in understanding these things better.   Click on the following link or paste into your browser:     http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/9/4_Jim_Rickards.html   Biography of James G. Rickards…..James G. Rickards is [...]

Cumberland Associates…..Front Running The Fed

thestatedtruth.com | September 1, 2010

Front Running the Fed September 1, 2010 “… the public is no longer investing in stocks, but rather in bonds.  So far this year through July, bond mutual funds have attracted $224.4bn in net inflows including reinvested dividends.  Equity funds have attracted only $17.2bn ytd, with $32.2bn going into International funds while $15.0bn flowed out [...]

China Cutting Back 72% Of Its Exports Of Rare Earth Metals

thestatedtruth.com | August 29, 2010

Interesting to say the least….rare earth elemnts are used in almost everything that is high tech……. Bloomberg reports that China is cutting back 72% of its exports of Rare Earth metals.  China has said that environmental issues are the reason for the cutbacks. 72% drop in availability of any commodity is important. RE’s are important. Japan [...]

Let’s Revisit This Great Piece From Todd Harrison Of Minyanville!

thestatedtruth.com | August 29, 2010

By Todd Harrison of Minyanville Seeking Solutions In An Uncertain World  We used to play for silver, now we play for life; ones for sport and one’s for blood at the point of a knife. –Grateful Dead We live in interesting times. During the last two years, a financial virus spawned and infected the economic [...]

Yra Harris On CNBC

thestatedtruth.com | August 25, 2010

 Yra Harris. ……..Listen carefully, he knows what is coming! CNBC-CME Trader Sounds Off August 25, 2010 at 9:19 am More at: www.jsmineset.com/  

Just A Theory

thestatedtruth.com | August 20, 2010

Quoted from Art Cashin on the floor of The New York Stock Exchange Yesterday, there was a bit of floor buzz on a Bloomberg TV item.  The story was that when the President headed off to vacation, he assigned two top defense aides to follow him. That raised some discussion about whether an Israeli move [...]

It’s A Bear Market In Lending, And A Bull Market In Spending

thestatedtruth.com | August 12, 2010

We’re looking at what will likely be a multi year process of cleansing.  Debts will have to be paid down, leverage decreased and ultimatly spending will have to be cut too!  That will make things even worse.  Asset values will continue to fall.  At some point in the future the system will complete its debt recycling and [...]

Money Heading Out….14′th Sequential Week Of Equity Outflows

thestatedtruth.com | August 12, 2010

14′th Sequential Week Of Equity Outflows We have now had over one quarter of non-stop redemptions by mutual funds, which means, by end-retail investors. The problem is that now everyone is starting to notice that the market is not supported by anything except momentum manipulation and primary dealer machinations. Per ICI, the week ended August [...]

The Deficit Is Gowing And Growing And Growing And……..

thestatedtruth.com | August 12, 2010

Jim Sinclair’s Commentary This is simply not going away. There is no practical means by which it can be drained ever! It is growing in a way that is unsustainable by any measure. Rather than being contained we are on the threshold of another round of unprecedented paper money creation. The reason it is happening [...]

Sultans Of Swap……Gordon T Long

thestatedtruth.com | August 2, 2010

SULTANS OF SWAP: Gold Swaps Signal the Roadmap Ahead BIS – The Super SIV Solution The news rocked the global gold market when an almost obscure line item in the back of a 216 page document released by an equally obscure organization was recently unearthed. Thrust into the unwanted glare of the spotlight, the little [...]

Byron Wein…..”The Smartest Man In Europe”

thestatedtruth.com | July 20, 2010

Write up from Byron Wein…………”The Smartest Man In Europe”                    Commentary courtesy of www.fmxconnect.com We recently came across an interesting piece from Blackstone on the European Stimulus and the road to recovery. Bryon Wein is a well known strategist. The most salient points are outlined below: No clear way out of the enormous debt burden [...]

This Out Of China… Dagong Global Credit Rating Co. Cuts Sovereign Debt Rating Of TheUnited States

thestatedtruth.com | July 14, 2010

Speaking of credit, or the lack thereof, the U.S. has been stripped of its AAA credit rating. So have Britain, France and Germany… This morning, the Dagong Global Credit Rating Co., China’s first real attempt at a ratings agency, initiated coverage on the sovereign debt of 50 different countries. “Dagong’s sovereign credit ratings are based [...]

Wall Street Stocks And Margin……What It Means!

thestatedtruth.com | July 2, 2010

Marginal Behavior We haven’t seen any discussions of leverage recently but clearly, this is a matter that requires exposure once again.  There have been three huge market tops in the last 23 years accompanied by extreme leverage and apparently, a fourth is now in the process of unfolding.  Ironically, as illustrated by our chart at [...]

Gold Sentiment Negative……Hulbert Says Sets Up Contrarian Pattern

thestatedtruth.com | July 2, 2010

Gold and gold stocks look absolutly terrible, so this makes a lot of sense!  The Hulbert Financial Digest has been tracking this kind of thing for over 30 years.   Friday July 2, 2010 ANNANDALE, Va. (MarketWatch) — Gold’s huge drop on Thursday is not the beginning of a new major leg down for the [...]

Thoughts From Commodity Trader Jim Sinclair

thestatedtruth.com | July 2, 2010

Thoughts For This Morning Yesterday’s action in gold was started by a hedge fund that was experiencing a withdrawal of funds, as did most in the last quarter. They attempted to take a profit and get money out of the market for redemptions by entering a sell for their gold in the cash and paper [...]

$1.2 Quadrillion Derivatives Market Dwarfs World GDP

thestatedtruth.com | June 11, 2010

The downward spiral in Western world economics will continue, here is why!   This is not rocket science folks!   $1.2 Quadrillion Derivatives Market                         By PETER COHAN         One of the biggest risks to the world’s financial health is the $1.2 quadrillion derivatives market. It’s complex, it’s unregulated, and it ought to be of concern [...]

Spanish Public Sector On Strike Against Austerity Plan

thestatedtruth.com | June 8, 2010

         Tuesday, 8 June 2010 Spanish public sector workers are holding a strike in protest against an average 5% cut in pay that comes into effect this month.  The cuts are part of a government austerity package aimed at reducing the country’s budget deficit, swollen by almost two years of recession.  Hundreds of protesters gathered [...]

A World In Trouble…..Fitch Warns Britain About Deficit

thestatedtruth.com | June 8, 2010

Fitch Ratings agency warned Tuesday that Britain faces a “formidable” fiscal challenge and must cut its budget deficit faster to maintain its top credit rating. In a special report ahead of an emergency budget planned by the new coalition government, Fitch noted that the rise in public debt ratios since 2008 is faster than any [...]

Israel Deploys Three Nuclear Cruise Missile-Armed Subs Along Iranian Coastline

thestatedtruth.com | May 31, 2010

Are we coming closer to WW III……it would appear so!  By Tyler Durden on 05/30/2010 Even as futures are feeling buoyant as a result of the JPY drop following the collapse of the Japanese ruling coalition (which in itself will likely spell serious JGB troubles in the days ahead), Middle-east geopolitical issues have once resurfaced… [...]

Are You A Reseilient Household?

thestatedtruth.com | May 30, 2010

Steve Wynn Takes on Washington

thestatedtruth.com | May 30, 2010

Americas most famous Las Vegas club owner and desisgner speaks out about the direction of the United States and the wild uncontrolled spending and massive debt we are taking on.  “We’re on our way to Greece, in the hands of a confused, foolish government,” Wynn says. Steve Wynn says Americans are afraid. He’s just angry. “Washington is [...]

Looks Like A King Sized Tooth Ace For California’s Unfunded Pension Liabilities

thestatedtruth.com | May 24, 2010

Unfortunately, our woeful tale of unfunded liabilities does not end in Washington. Several state governments are also racking up large annual deficits and even larger unfunded pension liabilities. Right here at home, in the Golden State, government finances have rapidly slipped from “okay” to “abysmal.” And once again, the official debt numbers tell only a [...]

Can We Save The Dollar Or Is The Current Rally Its Last Harah?

thestatedtruth.com | May 23, 2010

Oh Oh…..Bankers Playing Craps…..What The Hell Did He Hit With Those Dice!

thestatedtruth.com | May 20, 2010

U.S. Begins Massive Military Build Up Around Iran, Sending Up To 4 New Carrier Groups In Region

thestatedtruth.com | May 20, 2010

  Submitted by Tyler Durden on 05/20/2010 As if uncontrollable economic contagion was not enough for the administration, Obama is now willing to add geopolitical risk to the current extremely precarious economic and financial situation. Over at Debkafile we read that the president has decided to “boost US military strength in the Mediterranean and Persian [...]

Pimco’s El-Erian Says We Are In Unchartered Waters Here!

thestatedtruth.com | May 20, 2010

By Rita Nazareth May 20 (Bloomberg) — The Standard & Poor’s 500 Index’s 12 percent decline from April’s high may worsen amid concern that Europe’s debt crisis will derail global growth, said Mohamed A. El-Erian, chief executive officer of Pacific Investment Management Co. “This is not a typical retracement,” El-Erian, 51, whose firm runs the [...]

Gene Inger…..We Ain’t Seen Nothing Yet!

thestatedtruth.com | May 19, 2010

We ain’t seen nothing yet.  There’s an old story of a guy who, when asked how he went broke during the Great Depression, responded: ‘slowly; then all at once’. We’re in a new era; which while there will be snapbacks and melancholy attempts to restore the past excesses (whether consumerism or governmental spending levels); they [...]

All About Oil

thestatedtruth.com | May 17, 2010

With only so much oil to go around, every new off-take agreement signed by the Chinese with the Saudis or Venezuelans, for example, is a net loss in supply to other bidders, notably the world’s largest energy consumer, the United States. That the Chinese, and other countries, are aggressively securing long- term energy arrangements, coincidental [...]

Nothing That A Few Trillion Wouldn’t Cure!

thestatedtruth.com | May 15, 2010

Tom Bloom

Can Germany Bully The Euro?

thestatedtruth.com | May 15, 2010

You Can Stand On Your Head Until Your Ears Turn Red, But Gold Will Still Be Gold, The Real Question Is: What Will The Dollar Be?

thestatedtruth.com | May 14, 2010

The Road To Default

thestatedtruth.com | May 14, 2010

The Road to Default Follow the capital flows, people. As money flees from the European bond market, it runs to the safety of US debt, stocks, and gold. The race to the fiat bottom, however, ensures that it’s only a matter of time before the US devalues again and capital begins to flee the safe [...]

Paul Volcker Says Crisis Threatens Euro ‘Disintegration’

thestatedtruth.com | May 13, 2010

By Simon Clark May 13 (Bloomberg) — Former Federal Reserve Chairman Paul Volcker said he’s concerned that the euro area may break up after the Greek fiscal crisis that sparked an unprecedented bailout by the region’s members. “You have the great problem of a potential disintegration of the euro,” Volcker, 82, said in a speech [...]

The Speculation Is…..That Germany Opts Out Of The Euro, Would This Take Gold Ballistic? Don’t Know, But It’s As Good A Reason As Anything Else We’ve Heard Lately!

thestatedtruth.com | May 12, 2010

By: Jim Sinclair      Post Edited: May 12, 2010  If you were to believe the MOPE the reason that gold was strong is because of an article on Kitco. The article speculated on Germany withdrawing from the EU. www.jsmineset.com

Is the Federal Reserve Behind The European Bailout?

thestatedtruth.com | May 10, 2010

By Larry Doyle|May 10, 2010, 12:57 PM|Author’s Website   Is the American taxpayer ultimately bailing out the European Union? Far fetched? Don’t be so sure. While the focus of the European bailout is on the European Central Bank, the European Union, and the IMF, little attention is being given to swap lines which were reopened [...]

Morgan Stanley’s Stephen Roach See’s Increasingly More Frequent And More Dire Crises Coming Up

thestatedtruth.com | May 10, 2010

Tyler Durden    05/10/2010   Morgan Stanley’s Stephen Roach spoke with Bloomberg’s Tom Keene earlier, pointing out the most troubling statistic about recent market activity, which has to do with both the frequency and amplitude of catastrophes: “The crises are coming with greater frequency. Over the last 25 years we have had an average of one [...]

Looks Like The Biggest “Save” Ever…..EU Crafts $962 Billion Show Of Force

thestatedtruth.com | May 9, 2010

This is huge……..European policy makers unveiled an unprecedented loan package worth nearly $1 trillion and a program of securities purchases as they spearheaded a drive to stop a sovereign-debt crisis.    Inflation dead ahead………Gold and Silver looks to be the ultimate store of wealth.  The world debt will be staggering!      By James G. Neuger and [...]

Why The Center Cannot Hold……John Mauldin’s “Outside The Box”

thestatedtruth.com | May 7, 2010

Risks associated with the fiscal deficits. And by the way, we should note that 25 of 27 European countries are running deficits in excess of 3% of GDP. Ireland has a deficit of 14.3%. Portugal is at almost 10%. Greece is almost 14%. Here is a table from Variant Perception in London, from data from [...]

The Credit Default Swaps “Roulette Wheel”…..Jim Sinclair Shares His Opinion

thestatedtruth.com | May 7, 2010

The solution is the problem. “Main Street is in the hands of a Roulette Wheel.”    The name of the “Roulette Wheel” is Credit Default Swaps. It does not matter what the G-7 or the G-20 does. It does not matter what the IMF, ECB and Fed under a beard do. Mrs. Merkel’s foolish political [...]

European Debt Turmoil

thestatedtruth.com | May 7, 2010

The Globe and Mail in Toronto put together a good visual (below) on how financially exposed the larger and stronger economies of Western Europe are to the region’s teetering nations. Think of all the turmoil caused by Greece – the external debt load of Spain and Ireland together is more than eight times greater.

Oh Oh….Roaches In The Computer Trading Systems…..But I Think We Got’em

thestatedtruth.com | May 6, 2010

http://www.greenfaucet.com/

Oops…..Hit The Wrong Button At The Market Trading Desk, Run Baby Run

thestatedtruth.com | May 6, 2010

http://www.greenfaucet.com/

The ABC’s Of Trading…..B For Billion Is Different Than M For Million

thestatedtruth.com | May 6, 2010

If  True……….. According to ForexLive, a big error at a major trading firm caused today’s -1,000 point market crash, before staging a huge come back. ForexLive: “Major US bank had an order to sell $15 mln of S&P e-mini contracts.    Accidentally sold $15 bln…” Update: CNBC is now reporting that a trader entered a “b” for [...]

Arnott: Odds Of Double-Dip Recession Better Than 50%

thestatedtruth.com | May 5, 2010

Research Affiliates chairman, along with BlackRock’s Dennis Stattman, paint a gloomy picture of U.S. economy; prepare clients ‘to weather the storm’.   The U.S. economy could well be headed for another downturn  and advisers should be helping clients find opportunities overseas and in alternative-asset classes, two well-known investment managers said Tuesday.  Our basic problem as a [...]

Greeks Protest EU Austerity Plan

thestatedtruth.com | May 5, 2010

So what happens when you take away entitlements that the Greeks have had for years?……….We here in the United States should take notice, because our time is coming and it will forced upon us by those that own our debt, at the moment China sits high on that list.         By Maria Petrakis and Natalie Weeks [...]

Fed Faces Deflation With Few Weapons, Rosenberg Says

thestatedtruth.com | May 5, 2010

By definition deflation means a general decrease in the price of assets, goods and services.  This ultimately includes everything, including real estate, stocks, bonds etc.   As the value of assets held fall, and the debt on those assets remains the same, a deflationary spiral takes effect.  The most likely survivors will be those with manageable or [...]

International Intrigue In The Gulf Of Mexico?

thestatedtruth.com | May 4, 2010

Interesting musings from the Inger Letter’s Gene Inger……………this is one bizarre report regarding international intrigue and the Gulf of Mexico oil disaster.  The White House ordered a news blackout on the story!   There is a circulating story about what really happened in the Gulf of Mexico; which we would give no credence to at [...]

The $3 Trillion Commercial Real Estate Problem

thestatedtruth.com | May 3, 2010

Commercial real estate pushes $7.4 billion in FDIC Losses in one day – Hard to hear the CRE collapse with investment banks finally being called out in the court of public opinion. $3 trillion CRE market will keep Fridays busy for the FDIC.   Posted: Mon, 03 May 2010 The $3 trillion commercial real estate [...]

Hurricane Forecasters See One Of The Worst Seasons In History Looming In 2010 Atlantic Season As Meteorological Conditions Mirror 2005

thestatedtruth.com | May 3, 2010

  By Brian K. Sullivan May 4 (Bloomberg) — The 2010 Atlantic hurricane season may rival some of the worst in history as meteorological conditions mirror 2005, the record-breaking year that spawned New Orleans- wrecking Katrina, forecasters say. The El Nino warming in the Pacific is fading and rain is keeping dust down in Africa, [...]

John Williams Of “Shadowstatistics” Is A Specialist In Government Economic Reporting….He Says We’re Going To See An Intensified Downturn In The Near Future!

thestatedtruth.com | April 30, 2010

Everyone should take the time to read this, which is part of a broader interview done on April 30 .  This will also effect interest rates.   ShadowStats’ John Williams has done his math and believes his numbers tell the truth. He explains why the U.S. is headed for or in a depression and why a [...]

Greek Bailout Cost To The U.S.

thestatedtruth.com | April 30, 2010

Thought For The Day The cost for a Greek bailout to the citizens of the US via the IMF will be $100 billion.  Now there is a nice addition to the Federal Budget Deficit. www.jsmineset.com

Here We Go Again! European Currencies

thestatedtruth.com | April 28, 2010

As The Old Saying Goes……You Ain’t Seen Nothing Yet

thestatedtruth.com | April 28, 2010

www.ingerletter.com

Which Way Are We Headed Economically……..Heaven Or Hell, The Devel May Be In The Decisions

thestatedtruth.com | April 27, 2010

Bernanke: Cut Deficit Or Do ‘Great Damage’ To Economy

thestatedtruth.com | April 27, 2010

Jim Sinclair’s Commentary This is the setting up of plausible denial for the failure of stimulus, both monetary and fiscal, to reverse the negative economic trends camouflaged within skewed statistics. Bernanke: Cut Deficit Or Do ‘Great Damage’ To Economy WASHINGTON — Failing to curb federal budget deficits would do “great damage” to the U.S. economy [...]

Here We Go Again……Which Way Was It That We Were Going?

thestatedtruth.com | April 26, 2010

Germany Throws A Wrench Into The Works………..

thestatedtruth.com | April 26, 2010

Germany refuses to help Greece unless it agrees to tougher terms Germany’s finance minister Wolfgang Schauble has raised fresh obstacles to the €40bn (£35bn) aid package for Greece, warning that Berlin will not transfer funds until Athens agrees to tougher terms.  By Ambrose Evans-Pritchard and Edmund Conway  Published: 10:47PM BST 25 Apr 2010 Mr Schauble [...]

Dollar, Euro, Pound Are All ‘Ugly Sisters,’ HSBC’s King Says

thestatedtruth.com | April 26, 2010

 April 26, 2010, 10:46 AM EDT By Jennifer Ryan April 26 (Bloomberg) — The dollar, euro and pound are all unappealing investments, either because of policies of “benign neglect” or concerns on the euro region’s stability, said Stephen King, chief economist at HSBC Holdings Plc. “It is a competition between ugly sisters, they are none [...]

Is The U.S. Looking More and More Like WIMPY!

thestatedtruth.com | April 18, 2010

Not Good To Say The Least…….PLUMMETING U.S. MONEY SUPPLY Despite QE (Quantitative Easing)

thestatedtruth.com | April 18, 2010

PLUMMETING US MONEY SUPPLY DESPITE QE (Quantitative Easing)   The chart above from Shadow Government Statistics is more than a little alarming. The M3 money supply reporting is shown above, which we all used to watch meticulously and was suddenly and suspiciously dropped without explanation in March 2007. John Williams of Shadow Government Statistics still [...]

Seems Logical……Jim Sinclair’s Commentary

thestatedtruth.com | April 18, 2010

Who paid the bonuses for Wall Street and how it worked: 1. FASB capitulates and allows holders of OTC derivatives to value them at whatever they wish. 2. International investment firms begin strong mark up policies towards their crap inventory. 3. Profits from the mark up of crap OTC derivatives by the international investment firms [...]

Goldman Sachs Sued by SEC for Fraud Tied to CDOs

thestatedtruth.com | April 16, 2010

Goldman Sachs Sued by SEC for Fraud Tied to CDOs  By Joshua Gallu and Christine Harper April 16 (Bloomberg) — Goldman Sachs Group Inc. was sued by U.S. regulators for fraud tied to collateralized debt obligations that contributed to the worst financial crisis since the Great Depression. The firm’s shares tumbled as much as 16 [...]

The World Currency Of Choice

thestatedtruth.com | April 15, 2010

George Soros Warns Of Biggest Market Crash To Come, As “We Are Facing A Yet Larger Bubble” Than During Credit Crisis

thestatedtruth.com | April 15, 2010

04/15/2010 George Soros, speaking at a meeting organized by The Economist, warns all those who are throwing their money into the equity pit, that “the financial world is on the wrong track and that we may be hurtling towards an even bigger boom and bust than in the credit crisis.” Advice from Soros or from [...]

Let’s Hope This Doesn’t Happen, But If It Does………….

thestatedtruth.com | April 12, 2010

Sovereign Debt Disaster Will Favor Hard Assets by Justice Litle, Editor, Macro Trader April 12, 2010 In the event of a full-blown sovereign debt crisis, hard assets will become deeply desirable as one of the few “stores of value” left. …all too often the size of debts, especially government debts, is hidden from investors until [...]

An Opinion From Jim Sinclair…. One Of The Premier Authorities On Gold And Currencies!

thestatedtruth.com | April 7, 2010

This presentation by Mr. Sinclair addresses what is currently going on in the world, including finances of course, which is his specialty. He is regarded as one of the premier authorities on gold and currencies in the world, and as such we should all value his opinion highly. 1. Get a copy, if possible, of the BBC movie, “The [...]

Gold vs. The S&P 500

thestatedtruth.com | April 6, 2010

A DISCRETE BULL MARKET Gold’s major trend has been up for nine consecutive years, yet the investing public has barely begun to invest. It’s not well known that this bull market even exists. This in itself is bullish because it means the 375% gain over the last almost decade will be pale compared to the [...]

Historical Corralation Of Daily Returns (5 Years)

thestatedtruth.com | March 31, 2010

Star Gazer Arch Crawford Has An Outlier Opinion

thestatedtruth.com | March 29, 2010

Arch Crawford Sets His Opinion On Outlier Event Expected To Happen Between May 1st and Nov 1st Of This Year Posted By thestatedtruth.com Is It Written In The Stars?   Peter Brimelow devotes his column this morning to the latest projections from Arch Crawford.  Crawford in case you didn’t know, bases many, in fact most, of his projections through the use [...]

Flow Of Funds Data

thestatedtruth.com | March 19, 2010

Saving and the restoration of the average family unit’s retirement coffers is what this is about. And in that case current and former officials should be encouraging building citizen savings; not just trying to return us as a nation to the irresponsible practices of the past, which would only help the Chinese economy more than [...]

The Set Up For Hyperinflation

thestatedtruth.com | March 16, 2010

When Money Supplies Go Wild!            By James Turk The US money supply is much bigger than the official numbers indicate…$1.25 trillion bigger, to be exact. If you care about the value of the dollars in your pocket, this information should matter greatly to you. As the financial crisis has unfolded over the last two [...]

Rick Rule: Systemic Shock Will Kill Sucker Rally

thestatedtruth.com | March 13, 2010

Source: TGR  03/12/2010  Charismatic, articulate, contrary and persuasive, Rick Rule probably could draw an audience if he were talking about the weather. But combine his presence with character, knowledge, understanding, experience and a track record of success, particularly in the resource arena, and the crowd falls silent. People listen to what Rick has to say and, [...]

Stratfor……China’s Challenge

thestatedtruth.com | March 9, 2010

China’s Challenge March 9, 2010 | 0958 GMT   By Jennifer Richmond and Rodger Baker China’s National People’s Congress (NPC) remains in session. As usual, the meeting has provided Beijing an opportunity to highlight the past year’s successes and lay out the problems that lie ahead. On the surface at least, China has shown remarkable [...]

SULTANS OF SWAP…..Fearing The Gearing!

thestatedtruth.com | March 9, 2010

SULTANS OF SWAP:  Fearing the Gearing!  Ever imagine getting your tie caught in a mechanical set of gears (sorry ladies – but I will spare you). The results are nasty! Now you know what the Sultans of Swap in the $695 Trillion global OTC derivatives market feel like. Every day the slow moving gears of [...]

Cash-Strapped States Delay Paying Income-Tax Refunds

thestatedtruth.com | March 7, 2010

From Jim Sinclair…..Credit default swap OTC derivatives are weapons of real warfare. (Credit-default swaps, where you insure your neighbor’s house just to destroy it and make money from it, that’s exactly what we have to curb, according to Paul Volcker)   They are already operating against US state debt.  Soon states will be falling like bowling pins. [...]