Quote of the week
“[W]hat’s the strategy? What’s the operational concept? What’s the order of battle? What are the military goals? When the shooting stops (and it will stop, right?), with whom do we make peace? So maybe we won’t have a signing ceremony on the deck of a battleship, but what’s the theory of victory? Um… by the way, who’s in charge?” – Byron King
by Michael Boldin
“With military action taking place in Libya right now, the essential question must be asked: Is it even Constitutional? For those of you who don’t want to read more than a sentence or two, here’s the short answer. Absolutely not.” more…
by Ron Paul
“While the Fed takes credit for the increase in the stock markets, it claims no responsibility for the increases in food and commodity prices. Most economists fail to understand that inflation is at its root a monetary phenomenon. There may be other factors that contribute to price increases, such as famine, flooding, or global unrest, but those effects are transient. Consistently citing only these factors, while never acknowledging the effects of monetary policy, is a cop-out.” more…
by Doug Hornig
“On November 14, 2007, the feds took to the field. Agents from the FBI and Secret Service swarmed the Liberty Dollar Company’s (LDC) Indiana offices and Idaho production facilities. They seized everything in sight, including 9 tons of gold, silver, platinum and copper, along with all the company’s files and all its computers. They froze LDC’s bank accounts. They confiscated the gold and silver bullion that backed up the paper certificates and digital currency, and was securely held in a commercial vault on behalf of the LDC by Coeur d’Alene, Idaho’s Sunshine Mint. Even the dies for minting the Liberties were taken.
“It was one of the larger and more egregious confiscations of private property in U.S. history. And no one cared. Outside of the Internet and a handful of right-wing talk shows, virtually no one spoke out publicly against this atrocity. Including, ironically, Ron Paul, whose image had been featured on some of Liberty’s rounds and who was then gearing up for his presidential campaign.” more… [A primer on the defunct Liberty Dollar and the trial of its progenitor. Scroll down the the second heading before reading if you want to save time.]
by Peter Schiff
“One of the immediate financial consequences of the catastrophic Japanese earthquake is that Japan needs to call on its huge cache of foreign exchange reserves to rebuild its shattered infrastructure. To pay for domestic projects, Japan will require yen – not dollars, euros or Swiss francs. As a result of these conversions, the yen rallied considerably after the quake struck.” more…
- The Bain Report
- Failure Friday
- Billl Bonner – Government Profits from the “Never Go Bust” Guarantee (A good one this week.)
- Just one failed bank this week.
- Amazon Best Sellers: #1 Heaven is for Real: A Little Boy’s Astounding Story of His Trip to Heaven and Back by Todd Burpo, Sonja Burpo, Colton Burpo, Lynn Vincent; #2 Now Eat This! Diet: Lose Up to 10 Pounds in Just 2 Weeks Eating 6 Meals a Day! by Rocco DiSpirito; #3 The 17 Day Diet: A Doctor’s Plan Designed for Rapid Results by Dr. Mike Moreno
- Rand Paul has introduced a budget plan that will eliminate four federal agencies over five years.
- Dennis Kucinich comes out against unconstitutional war with Libya.
- Portugal’s debt has been downgraded.
- The debt of 30 Spanish banks was downgraded.
- Unrest is spreading in Syria.
- And in Jordan as well.
And Now the Numbers…
DOW Jones Industrials – 12,220.59 (+362.07/3.05%)
S&P 500 – 1,313.80 (+34.60/2.70%)
VIX – 17.91 (-6.53/-26.72%)
CSI 300 (China) – 3,294.484 (+78.799/2.45%)
BSE 500 (India) – 7,229.45 (+303.64/4.38%)
MICEX (Russia) – 1,807.46 (+60.14/3.44%)
BOVESPA (Brazil) – 67,765.938 (+886.047/1.32%)
Nikkei 225 (Japan) – 9,536.13 (+329.38/3.58%)
RICI (Commodities) – 4,243.12 (+92.21/2.22%)
Oil/bbl (Brent) – 115.59 (+1.66/1.46%)
Corn/bu – 689.50 (+6.00/0.88%)
Wheat/bu (CBT) – 733.25 (+10.25/1.42%)
Rough Rice (CBOT) – 14.295 (+0.66/4.84%)
Copper/lb – 441.90 (+8.00/1.84%)
Gold/oz – 1,427.60 (+11.50/0.81%)
Silver/oz – 37.049 (+1.991/5.68%)
EUR-USD – 1.4088 (-0.0094/-0.66%)
USD-JPY – 81.3428 (+0.7588/0.94%)
USD-BRL – 1.662 (-0.0035/-0.21%)
USD-HKD – 7.7951 (-0.0047/-0.06%)
NZD-USD – 0.7534 (+0.0223/3.05%)
3 Month Treasury – 0.08 (+0.02/33.33%)
2 Year Treasury – 0.73 (+0.15/25.86%)
10 Year Treasury – 3.44 (+0.17/5.20%)
30 Year Treasury – 4.50 (+0.08/1.81%)
3 Month LIBOR – 0.31 (UNCHG)
U.S. Public Debt (official) – 14,210,071,848,853.10 (-13,658,425,327.70/-0.10%)
Baltic Dry Index (BDIY:IND) – 1,585.00 (+54.00/3.53%)
Well how about that? The UN has declared war using the US army. Unfreakingbelievable! As if the empire wasn’t already overextended. Despite all the protestations to the contrary, hell maybe even because of them, I think this could be a long drawn out affair. Hubris, stupidity, or treachery? I chalk it up primarily to (a). And that’s enough about Libya.
Syria is starting to smolder. So that makes: Syria, Tunisia, Egypt, Yemen, Bharain, Jordan, Gaza, and Libya. Did I miss anything? Perhaps Iraq and Afghanistan? Wow. Where does this all end up? New caliphate perhaps?
As well, Japan is still far from out of the woods.
Oh, and Portugal is headed under with implications for the entire Euro Zone.
That’s a lot of stuff. In fact methinks it’s enough stuff for a whole year already, and we’re only leaving March.
As for me, I’ve been very busy with school. In fact I have a project to finish tomorrow, which will leave me with just one more test, one more project, and one more tuition payment.
Baby Girl is doing very well. She had a bout of stomach sickness the last few days. Bit of throwing up and lots of diarrhea. But she’s past all of that now and back to her active self.
We’ve got an ice cream eating routine. I get a bowl of ice cream and she sits on my lap and we eat it. It’s pretty cool.
Next week on Thursday the 31st Gary Johnson is going to be at the Michigan League. I think the College Libertarians are putting on the event. So there’s that.
Alright, well that’s about it for today. I’ve gotta get busy! Have a great weekend!