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HEADLINE Economic, Financial & Global News...
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Friday 06.01.2012

Gold reserves to play a key role in new economic order
NEW YORK (Commodity Online): Gold has recently been moving in locksteps with the single currency, which fell to its lowest level against the dollar in two years as investors continue to fret about Spain's vulnerable fiscal conditions.
Gold prices may have fallen out of bed over the past four months. But gold as a currency is gaining ground as gold reserves are increasingly being allocated a more important role in the coming new economic order.

Myths and Realities of Returning to a Gold Standard
by Terry Coxon of Casey Research - FinancialSense.com
Myths And Realities Of Returning To A Gold Standard
The gold standard, under which any holder of paper dollars could redeem them for gold at the US Treasury, is now within the living memory of just a few million Americans, nearly all of whom would be dangerous behind the wheel. But thanks to the money printing and the federal deficits that have grown to astounding scales since 2008, and thanks also to the clashing pronouncements of Ron Paul and Ben Bernanke, the idea of a gold standard has resurfaced in the public's consciousness.
I'm happy to see the concept enjoying a revival. Reading about it in the mainstream press and hearing it mentioned on the cable news shows makes me feel a little less like a Martian. It has almost made me feel avant-garde.

Silver to bounce back, rally likely in coming months
NEW YORK (Commodity Online): There is a lot of speculation that silver will rebound from lower levels in the coming months. The speculation comes as analysts predict that manufacturing will expand in key economies like China and USA which will likely boost the demand for the metal.
Some analysts believe that the price of silver will rally in coming months:
According to Charles Nenner, noted market forecaster,silver is set to scale new highs in next 12-18 months.
It's almost time to get bullish again," Nenner says, "about two weeks or so." From there, he's looking for a move to all-time highs, and possibly beyond. Silver is going back to $50 but "that doesn't mean $50 has to be the end."

Eurozone Nations Could Pawn Gold to Germany
theTrumpet.com
New euro plan would have Germany save Europe, in return for power and gold.
The unstoppable force has met the immovable object in the eurozone. The euro cannot stay afloat without German help; the laws of nature will soon reassert themselves and the euro will sink. But Germany cannot help. The public support isn't there, and in most cases the Constitutional Court has expressly forbidden it.
However, an intriguing compromise is starting to gain traction. Endorsed as a possible way forward by the International Monetary Fund (imf), Société Générale and Germany's main opposition party the Social Democratic Party,the plan is just the type of deal the Trumpet has forecast for years:Germany bails out Europe in exchange for power and gold.

Jim Rogers: Global economic shocks coming in 2013-2014
The G8 meeting in Camp David was focused on saving Europe from its economic nightmares. World leaders discussed Greece and its severe debt crisis, trying to figure out how to save the eurozone. The Great Recession struck the world nearly four years ago, but the aftershock is still being felt. And it's unclear when the economy will finally start to recover, and where its new center will emerge. So are there any signs of light at the end of the tunnel? RT talks to one of the insiders of the world financial elite, co-founder of the Quantum Fund, Jim Rogers.

Capital flight hitting all of Europe,
RBC capital strategist warns
By John Shmuel, Financial Post
Money has been flowing out of periphery eurozone countries such as Greece for some time now. But evidence it is no longer entering wealthier eurozone countries, but leaving Europe entirely, threatens to dangerously intensify the crisis, a strategist warned Wednesday.
"Anecdotal evidence suggests that over most of 2010, 2011 and early 2012, the largest portfolio shifts out of peripheral Europe took place into [German] Bunds and surrounding credits," said Peter Schaffrik, head of European rates at RBC Capital Markets. "Yet, there is accumulating evidence that this behaviour is changing and actual capital flight out of Europe (rather than within Europe) is taking place."

World Fixated on Europe;
Friday's U.S. Economic Data Is Key
BY JAMES J PUPLAVA CFP - FinancialSense.com
The world appears to be fixated on events in Europe. Speculation as to the probable outcome changes almost hourly, depending on which desperate politician is in front of the camera. The main focus is on Greece. However, Spanish and Italian bond yields are back again at nosebleed levels. As of yesterday's close, they're up more than 200 basis points on Spanish 10-year notes, 113 basis points on Italian debt, and 138 basis points on Portuguese bonds. By contrast, the yield on 10-year treasury notes has fallen to a record 1.546%, a yield we haven't seen since 1946. German bunds are also at record lows, dropping to 1.21%.

Keiser Report: Asymmetric Accounting (E294)
In this episode, Max Keiser and co-host, Stacy Herbert, discuss 'asymmetric accounting,' flatulent dark market clubs in austerity London and the $72 trillion claim against Limewire, while President Obama settles for $26 billion for widescale, systemic mortgage fraud. In the second half of the show Max talks to Jan Skoyles of TheRealAsset.co.uk about her campaign to Buy Britain's Gold Back.

Markets will rally when Greece leaves euro
Spotting opportunities after a bloody May
By David Callaway, MarketWatch
SAN FRANCISCO (MarketWatch) — Seldom has the tired old Wall Street saying "Sell in May and go away" rung more true than it did this past month.
Aside from the U.S. dollar and German bunds, investors pretty much dumped everything in May, with markets plunging around the world on concerns about Europe and China, and, of course, the epic failure of the Facebook IPO two weeks ago.
Trouble is, this year nobody went away. A collective funk has settled over the news cycle, with Syrian executions and face-eating maniacs only adding to the general feeling of dread as investors search for safety. A U.S. presidential campaign already boiling with hate on both sides is not helping to ease the pain.

Be Afraid Europe, Be Very Afraid -
Tim Geithner Is Now "Helping" You
Submitted by Tyler Durden - ZeroHedge.com
If there was one piece of news that could force an all out panic in a market already on the edge, it is that outgoing (as in finally departing) US Treasury Secretary, Tim Geithner, was getting involved in the European Crisis. Sadly, this is precisely what happened.

• SPAIN DEPUTY PM:
US TREASURY'S GEITHNER AGREES
TO WORK WITH SPAIN TO RESOLVE BANK CRISIS - DJ
• SAENZ DE SANTAMARIA SAYS
GEITHNER URGES SPAIN BANK SOLUTION
• SPAIN'S SAENZ DE SANTAMARIA
TOLD GEITHNER OF REFORM EFFORTS
• GEITHNER DISCUSSED SPAIN'S PLANS
TO STRENGTHEN FINANCE SECTOR
• SPAIN'S SAENZ DE SANTAMARIA
TOLD GEITHNER OF REFORM EFFORTS

Spain – Everything Suddenly Stops
Retail Sales in Spain Plunge
BY PATER TENEBRARUM - FinancialSense.com
Economic data releases from Spain have one thing in common lately: they are all 'worse than expected'. Even data that were in fact expected to be atrocious surprise by being more atrocious than previously imagined. The latest example is the reported decline in retail sales of 9.8% year-on-year, a new record. In fact, this was the 'seasonally adjusted' decline. In real terms, retail sales plummeted by 11.3% year-on-year. This follows on the heels of a 3.8% (s.a.), resp. 4% (real) decline last month, which was already quite bad, but not really alarming just yet.
A friend remarked to us that when looking over Spain's economic data releases during April and May, one had the impression that everything had 'suddenly stopped'. This was buttressed by a table depicting said releases:

Deepening crisis forces Merkel to re-examine euro taboos
By Noah Barkin
(Reuters) - How far is Germany prepared to go to save the euro zone?
With Greece's future in the single currency bloc in doubt, Spain scrambling to get a grip on its ailing banks and the euro itself in freefall, the question that has preoccupied crisis watchers for over two years is back in focus like never before.
As in previous "crunch" moments during the crisis, coming up with a clear picture of Berlin's intentions is difficult.

Merkel's Isolation Deepens As Draghi Criticzes Strategy
By James G. Neuger - Bloomberg.com
German Chancellor Angela Merkel was besieged by critics for letting the euro crisis smolder, with the leaders of Italy and the European Central Bank demanding bolder steps to stabilize the 17-nation economy.
Italian Prime Minister Mario Monti and ECB President Mario Draghi pushed Germany to give up its opposition to direct euro- area aid for struggling banks. Monti further antagonized Germany by urging a roadmap to common borrowing.

Keiser Report: Unelected Officials (E295)
In this episode, Max Keiser and co-host, Stacy Herbert, discuss the tax-free living Christine Lagarde, an unelected official, waving the flag for French banks while harassing Greek citizens while Silvio Berlusconi's 'pleasure chest' drives up the bunga bunga market. In the second half of the show Max talks to Hugo Salinas Price who appeals to Alexis Tsipras to propose bringing a silver standard to Greece.

The Pope's Bankers
The pope's choice for head of the Vatican bank could seal the power of Rome and Berlin over Europe's economy.
BY RON FRASERthe - Trumpet.com
We had a suspicion that something was afoot when Vatican banker Gotti Tedeschi was sacked. It took little time for Pope Benedict to publicize his preferred choice for Tedeschi's replacement.
On Wednesday, the Vatican Insider reported under the headline "Ratzinger wants German head of Vatican bank" that the pope's inside choice is none other than the former head of the Bundesbank, Hans Tietmeyer. The Insiderstated in relation to Tedeschi's replacement: "[I]n the Vatican the race for his job has already begun. Despite his age (81), Hans Tietmeyer, former leader of Bundesbank and current member of the Pontifical Academy of Social Sciences, is one step ahead of all the other possible candidates. He is the only one Benedict xvi really likes …. [N]o one is considered more suitable than Tietmeyer to manage the 'pope's strongbox' now that Berlin rules Europe's finances …."

"The End Game: 2012 And 2013 Will Usher In The End" -
The Scariest Presentation Ever?
Submitted by Tyler Durden - ZeroHedge.com
If Raoul Pal was some doomsday spouting windbag, writing in all caps, arbitrarily pasting together disparate charts to create 200 page slideshows, it would be easy to ignore him. He isn't. The founder ofGlobal Macro Investor "previously co-managed the GLG Global Macro Fund in London for GLG Partners, one of the largest hedge fund groups in the world. Raoul came to GLG from Goldman Sachs where he co-managed the hedge fund sales business in Equities and Equity Derivatives in Europe... Raoul Pal retired from managing client money in 2004 at the age of 36 and now lives on the Valencian coast of Spain, from where he writes." It is his writing we are concerned about, and specifically his latest presentation, which is, for lack of a better word, the most disturbing and scary forecast of the future of the world we have ever seen....

2012 End of U$ Dollar &
Beginning of the End
of the New World Order: Lindsey Williams

Corporate bond liquidity fall sparks fear
Wall St securities dealers confer with institutional investors
By Nicole Bullock, Tom Braithwaite
and Dan McCrum in New York - FT.com
The largest Wall Street securities dealers held talks with institutional investors in Boston last week to discuss concerns over shrinking liquidity in the corporate bond market and the rise of electronic trading.
People who attended said the unusual summit involved asset manager Fidelity and banks including Goldman Sachs, Deutsche Bank, State Street, Barclays, Credit Suisse, Citigroup, Morgan Stanley, Bank of America, JPMorgan Chase and UBS. The banks either declined to comment or could not be reached.

PIMCO's Bill Gross Warns Of Too Much Risk
With Too Low Yields in Bonds
247WallSt.com
Bill Gross is the de facto Bond King. Running a giant institution like PIMCO give you quite some power. Gross makes monthly outlooks and his June report is not offering any great hope for a reversal. Gross also told CNBC that he does not expect a Eurobond deal to surface as some investors are hoping for.
In the June outlook, Gross noted, "Soaring debt/GDP ratios in previously sacrosanct AAA countries have made low cost funding increasingly a function of central banks as opposed to private market investors. Both the lower quality and lower yields of such previously sacrosanct debt represent a potential breaking point in our now 40-year-old global monetary system."

It's a Record! U.S. Treasury Yields Hit a 220-Year Low
By Matthew O'Brien - TheAtlantic.com
One of these days, the bond vigilantes will show up. Today was not that day though. Tomorrow's not looking good either.
The chart below from Bloomberg shows the nominal yield on 10-year Treasury bonds the past five years. Thursday's midday yield was the lowest it's been over that period. It was also the lowest it's been the past 50 years. Actually, 100 years. No, 220 years.
Yes, Thursday's brief sub-1.54 percent yield was the lowest ever.

The Economic Costs of Fear
By J. Bradford DeLong - Project-Syndicate.org
BERKELEY – The S&P stock index now yields a 7% real (inflation-adjusted) return. By contrast, the annual real interest rate on the five-year United States Treasury Inflation-Protected Security (TIPS) is -1.02%. Yes, there is a "minus" sign in front of that: if you buy the five-year TIPS, each year over the next five years the US Treasury will pay you in interest the past year's consumer inflation rate minus 1.02%. Even the annual real interest rate on the 30-year TIPS is only 0.63% – and you run a large risk that its value will decline at some point over the next generation, implying a big loss if you need to sell it before maturity.
So, imagine that you invest $10,000 in the S&P index. This year, your share of the profits made by those companies will be $700. Now, imagine that, of that total, the companies pay out $250 in dividends (which you reinvest to buy more stock) and retain $450 in earnings to reinvest in their businesses. If the companies' managers do their job, that reinvestment will boost the value of your shares to $10,450. Add to that the $250 of newly-bought shares, and next year the portfolio will be worth $10,700 – more if stock-market valuations rise, and less if they fall.

Why Does The Mainstream Media
Ignore The Bilderberg Group?
By Michael Snyder - EndOfTheAmericanDream.com
Over the next several days, more than a hundred of the most powerful people on the planet will attend a secret conference at a hotel in Chantilly, Virgina. Some of the biggest names in politics and business will be there. The hotel is going to be completely locked down and will be swarmed by hordes of security guards carrying machine guns. This conference is so important that even the U.S. Secret Service is rumored to be involved in providing security. These meetings have been held yearly since 1954, but no record of what goes on at them has ever been officially released to the public and all the attendees are sworn to secrecy. Decisions made at this conference will affect the lives of every man, woman and child on the planet. But the vast majority of Americans will have no idea that the Bilderberg Group is meeting about 20 miles from Washington D.C. this year because the mainstream media in the United States ignores the Bilderberg Group almost entirely year after year. Based on the coverage it gets from the U.S. media, you would think that the Bilderberg Group was a non-event. But if some of the most powerful people on the planet are getting together to discuss our future, don't you think the mainstream media should be covering it?

The Real Banking Crisis, Part II
By Eric Sprott - ZeroHedge.com
Here we go again. Back in July 2011 we wrote an article entitled "The Real Banking Crisis" where we discussed the increasing instability of the Eurozone banks suffering from depositor bank runs. Since that time (and two LTRO infusions and numerous bailouts later), Eurozone banks, as represented by the Euro Stoxx Banks Index, have fallen more than 50% from their July 2011 levels and are now in the midst of yet another breakdown led by the abysmal situation currently unfolding in Greece and Spain.

JPMorgan CIO Swaps Pricing Said To Differ From Bank
By Matthew Leising, Mary Childs
and Shannon D. Harrington - Bloomberg.com
The JPMorgan Chase & Co. (JPM) unit responsible for at least $2 billion in losses on credit derivatives was valuing some of its trades at prices that differed from those of its investment bank, according to people familiar with the matter.
The discrepancy between prices used by the chief investment office and JPMorgan's credit-swaps dealer, the biggest in the U.S., may have obscured by hundreds of millions of dollars the magnitude of the loss before it was disclosed May 10, said one of the people, who asked not to be identified because they aren't authorized to discuss the matter.

Street heeds "sell in May, walk away"
U.S. stock indexes drop 6%-plus in May
By Kate Gibson, MarketWatch
NEW YORK (MarketWatch) — U.S. stocks on Thursday closed one of the worst months in years, with the Dow halting a seven-month win streak after disappointing data tempered expectations for the May jobs report.
"It's the summer months, unfortunately, so that's one strike. Everyone is out hunting for black swans and finding them. It's a strange environment where investors just don't trust the market at all, so the question is how cheap do stocks have to get before they can entice investors again," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago.

6 buys, 7 sells for the new Age of Austerity
Start planning today for another lost decade ahead
By Paul B. Farrell, MarketWatch
SAN LUIS OBISPO, Calif. (MarketWatch) — Today we'll discuss investment strategies for America's new Age of Austerity. Remember: Austerity will dominate the U.S. and global economies for years.
That point was punctuated with the arrival of the new book from Martin Pring, one of America's leading financial analysts: "Investing in the Second Lost Decade." His opener is a grabber: "Are you prepared for another lost decade?" Are you?

Gerald Celente - Tommy Schnurmacher Show -
May 29, 2012

Jobs data points to recovery losing momentum
By Lucia Mutikani
(Reuters) - Private payroll growth picked up only slightly in May and claims for jobless benefits rose last week, suggesting the U.S. labor market recovery was losing steam after a strong performance early in the year.
Other data on Thursday showed factory activity in the Midwest slowed considerably in May and economic growth in the first quarter was a bit softer than initially estimated.
Economists said the reports reflected business anxiety amid an uncertain global economic outlook as the euro zone's debt crisis escalates and China's economy slows.

Older Americans learn new trades in tough
By Lucia Mutikani
(Reuters) - When Joe Burklund of Des Moines, Iowa, lost his job at the depths of recession in 2009 after 30 years in the advertising and marketing industry, he never imagined another career.
He was almost 60 and optimistic he would land another job in his field, where he was earning $65,000 a year.
After collecting unemployment checks for a year, Burklund took a part-time job at grocery chain Trader Joe's. As he watched his retirement savings bleed almost dry, he realized his situation would not turn around anytime soon.

Software Raises Bar for Hiring
[Google the title for free article pass]
By DAVID WESSEL - WSJ.com - $$
In an essay in this newspaper last fall, Peter Cappelli, a professor of management and human resources at the University of Pennsylvania's Wharton School, challenged the oft-heard complaint from employers that they can't find good workers with the right skills. "The real culprits are the employers themselves," he asserted.
"It is part of a long-term trend," he adds in an interview, "and the recession caused employers to be able to be pickier, to get even more specific in the skills they think they can find outside the company and to cut back on training."
Not surprisingly, his essay drew a lot of response. What did surprise Mr. Cappelli—as he describes in a book, "Why Good People Can't Get Jobs," to be published in June—was the frequency of complaints about the hiring process itself, particularly the now-ubiquitous use of software to screen applicants.

Revenge of the Nerds:
Tech Firms Scour College Campuses for Talent
Companies Woo Best Students With Equity,
Fat Salaries and Free Food
By SPENCER E. ANTE - WSJ.com
On college campuses these days, the top nerds are getting a taste of what it's like to be star jocks.
For Maxwell Hawkins, a computer science and art major at Carnegie Mellon University, the moment came in March. A technology recruiting firm sent him a letter by FedEx urging him to drop out of his junior year and take his talents to work for a start-up.
"I work for the founder and seed investor in PayPal, Palantir and Facebook," wrote Peterson Conway, a recruiter with Carmel, Calif., firm Goodwyn/Powell. "I have been asked to help identify the founding team of a new venture."

United Continental plans Houston job cuts
(Reuters) - United Continental Holdings will reduce flights and 1,300 jobs at Houston's biggest airport after that city gave Southwest Airlines approval to add international flights at a smaller airport in Houston.
United's biggest hub is Houston's George Bush Intercontinental Airport. The City Council of Houston voted on Wednesday to allow Southwest to expand William Hobby Airport to build new gates and a customs facility for international routes.

Student Debt Rises by 8% as College Tuitions Climb
By JOSH MITCHELL
Associated Press - WSJ.com
Graduation candidates celebrated on May 12 at the Centenary College commencement in Hackettstown, N.J.
Americans are borrowing more to pay for college while reducing other debt as a weak job market prompts more people to go to school and tuition keeps climbing, new Federal Reserve Bank of New York data show.
Americans owed $904 billion in student loans at the end of March, nearly 8% more than a year ago, the New York Fed said Thursday in a quarterly report on consumer credit. That compares with the $679 billion they owed on credit cards at the end of the first quarter.

Student Debt Bubble Delinquencies Surge
Submitted by Tyler Durden - ZeroHedge.com
By now, the bubble in student loans is becoming more widely understood. The absolute level continues to rise significantly and growth is accelerating with 8% YoY growth just reported, via the WSJ. Of course the reasons are anathema but attending college on the back of hope of a better-paying job when everyone else is also attending college in that hope (thanks to endless student-loan funding from your helpful government) seems to beself-defeating as the supply of supposedly better-qualified workers into a stagnant economy will do nothing but reduce higher-end wages further? Of course this is over-simplified but as the rest of the country delevers, pays down credit cards, or BKs, those that remain jobless heading to college for a way out are now struggling also - as is clear from WaPo this last weekend where dropout rates are increasingly dramatically. What is more worrisome is that while every other class of debt, according to the New York Fed's data, is seeing delinquency rates dropping, Student Loans 90+ days delinquent surged in Q1 to 8.7% - near its peak crisis highs and remains above peak mortgage delinquency rates.

Pelosi: Obamacare Will Be Upheld 6-3,
'Because I Know the Constitution'
By Elizabeth Harrington - CNSNews.com
(CNSNews.com) – House Minority Leader Nancy Pelosi (D-Calif.) said the Supreme Court will uphold the constitutionality of President Barack Obama's health care law, predicting a 6-3 decision because, as she remarked, "I know the Constitution."
At a Capitol Hill press conference on Thursday, a reporter asked Pelosi, "Madame Leader, the Supreme Court is getting ready to rule in the next month or so on the health care bill, and you've expressed pretty high confidence – I think you said 6-3 – but I'm just wondering if Democrats and the Democratic leadership have had any discussions or meetings to plan for any sort of contingency plan given the possibility that the court could strike any provisions from the law or the whole law, I'm wondering if Democrats are having any meetings to discuss contingency plans?"

President Obama's Medicare Fantasies
Medicare is headed for fiscal ruin, and a new report shows that the administration's reforms aren't likely to help.
Peter Suderman - Reason.com
How bad is Medicare's fiscal picture? So bad that the program's Trustees are warning that the bad news they issued earlier this year about the program's finances is actually the upbeat scenario—and have once again created an "alternative" fiscal projection designed to show how dire the stakes actually are.
The federally run seniors' health insurance program will no doubt loom large in this year's presidential election. President Barack Obama is already running ads touting his administration's commitment to preserving and strengthening the program's finances. But what his ads don't mention is that the program's Trustees have made it abundantly clear that Obama's Medicare reforms are likely fantasies—and that the program is headed for fiscal ruin even if those fantasies miraculously come true.

After 15 Months in Orbit,
Secret Space Plane Finally Returning to Earth
By Robert Beckhusen - Wired.com
The U.S. military's secret space plane is preparing to return from its second mission after an incredible 453 days in orbit (as of today). The robotic X-37B, which resembles a miniature space shuttle, is due to land at Vandenberg Air Force Base in California sometime in early to mid-June, depending on weather and other technical factors.
"The men and women of Team Vandenberg are ready to execute safe landing operations anytime and at a moment's notice," Col. Nina Armagno, commander of the Air Force's 30th Space Wing, said in a statement.

Alien Technology - The TR-3B How it Work?

Exit the Political Wife
By Naomi Wolf - Project-Syndicate.org
NEW YORK – France's new president, François Hollande, is not married to his partner, the glamorous political journalist Valerie Trierweiler, and no one seems to care. Germany's president, Joachim Gauck, is not married to his partner, the journalist Daniela Schadt, and no one seems to care. Andrew Cuomo, the governor of New York, is not married to his partner, the domesticity guru Sandra Lee, and no one seems to care. The list could easily be continued.
Is the adoring political spouse – so much a part of the political landscape that she has her own iconography, from knit suits to the dreamy upward gaze at her man – receding into the past?

Federal Gay Marriage Law Ruled Unconstitutional
By Don Jeffrey and Chris Dolmetsch - Bloomberg.com
A federal appeals court in Boston ruled that the heart of the Defense of Marriage Act -- defining marriage as only a heterosexual union -- is unconstitutional.
Plaintiffs in Boston challenged Section 3 of the act, claiming it was discriminatory because federal Social Security, veterans and other benefits were denied to same-sex couples married in Massachusetts, where such unions are legal.
"The denial of federal benefits to same-sex couples lawfully married does burden the choice of states like Massachusetts to regulate the rules and incidents of marriage," the appeals judges said in their opinion today, upholding the ruling of a lower court.

18 Examples Of The Nanny State Gone Wild
By Michael Snyder - TheEconomicCollapseBlog.com
America has been overrun by control freaks. Once upon a time the United States was considered to be "the land of the free and the home of the brave", but today there are millions of laws, rules and regulations that tightly regulate our daily lives. Most of these laws, rules and regulations were established by people who believed that they had "good intentions", but at this point the nanny state has become so oppressive that it is strangling the life out of us. If you look back throughout history, the societies that have really thrived have had a very high degree of liberty and freedom. When the bureaucrats get the upper hand, it can suck the life out of any economy. Unfortunately, our political system seems to be a magnet for control freaks. These control freaks truly believe that they know better than the rest of us and they are systematically moving toward taking total control of our lives. Our rights are being stripped away a little bit more with each passing day, and we are being told that we need a "permit" or a "license" for almost everything. Many younger Americans have been living this kind of "straight jacket existence" for so long that they don't even remember what real liberty and freedom are. We are steamrolling down the road toward totalitarianism, and most Americans don't even realize what is happening.

Agenda 21 Death Plot:
6 Billion to Die in EnviroNazi's Plan to "Save Planet Earth"

* * * * *

The UN Wants Complete Control
Over The Internet And That Would Mean
Unprecedented Censorship, Taxes And Surveillance
By Michael Snyder - EndOfTheAmericanDream.com
One of the fastest ways to ruin the Internet would be to put the United Nations in charge of it. Unfortunately, that is exactly what the United Nations wants. The United Nations is now pushing very hard for complete control over the Internet. A proposal that has the support of China, Russia, India, Brazil, Saudi Arabia and Iran would give control of the Internet to the UN's International Telecommunication Union. This is perhaps the greatest threat to the free and open Internet that we have seen yet. At a UN conference in Dubai this upcoming December, representatives from 193 nations will debate this proposal. The United States and many European nations are firmly against this proposal, but it is unclear whether they have the votes to stop it. Unlike the Security Council, there are no vetoes when it comes to ITU proceedings. So the United States may not be able to stop governance of the Internet from being handed over to the United Nations. The United States could opt out of any new treaty, but that would result in a "balkanized" Internet. If the UN gains control over the Internet, you can expect a whole new era of censorship, taxes, and surveillance. It would be absolutely catastrophic for the free flow of commerce and information around the globe. Unfortunately, many repressive regimes are very dissatisfied with how the Internet is currently working and they desperately want to be able to use the power of the UN to tax, regulate and censor the Internet. Needless to say, that would be a disaster. International control over the Internet would be a complete and total nightmare and it must be resisted.

U.N. takeover of the Internet must be stopped, U.S. warns
A U.N. summit later this year in Dubai could lead to a new international regime of censorship, taxes, and surveillance, warn Democrats, Republicans, the Internet Society, and father of the Internet Vint Cerf.
by Declan McCullagh - CNet.com
Democratic and Republican government officials warned this morning that a United Nations summit in December will lead to a virtual takeover of the Internet if proposals from China, Russia, Iran, and Saudi Arabia are adopted.
It was a rare point of bipartisan agreement during an election year: a proposal that Russian Prime Minister Vladimir Putin described last year as handing the U.N. "international control of the Internet" must be stopped.
"These are terrible ideas," Rep. Fred Upton, a Michigan Republican, said during a U.S. House of Representatives hearing. They could allow "governments to monitor and restrict content or impose economic costs upon international data flows," added Ambassador Philip Verveer, a deputy assistant secretary of state.

United Nations ponders Net's future
By Declan McCullagh - CNet.com
UNITED NATIONS--The United Nations wants a big piece of the Internet.
At a summit here this week, delegates from around the world gathered to take a preliminary step toward U.N. involvement in some of the areas that are bedeviling Internet users and governments alike, including spam, network security, privacy and the regulation of the technical underpinnings that control the sprawling global network.
U.N. Secretary General Kofi Annan set the tone in a speech Thursday, criticizing the current system through which Internet standards are set and domain names are handled, a process currently dominated by the United States, Canada, Europe and Japan. Such structures "must be made accessible and responsive to the needs of all the world's people," Annan said.

Congress Looking Happy to Reauthorize Broad,
Secret Spying Powers
By David Kravets - Wired.com
House lawmakers of both stripes in a Thursday hearing seemed amenable to the Obama administration's request to continue giving the government broad, warrantless electronic surveillance powers over American citizens — though some suggested Americans or at least members of Congress deserved to know how many people have been caught up in the dragnet.
At issue is the FISA Amendments Act, expiring legislation authorizing the government to electronically eavesdrop on Americans' phone calls and e-mails without a probable-cause warrant so long as one of the parties to the communication is outside the United States. The communications may be intercepted "to acquire foreign intelligence information."

Steve Quayle on TruNews "The Next 90 Days" Part 1

Teaching Democrats to fear government, too...
Will Obama's Civil-Liberties Failings
Cost Democrats in November?
In office, the president has only increased the power of the police state. Segments of the left may struggle to stay with him.
By Wendy Kaminer - TheAtlantic.com
"I love my country but fear my government." It's a timely slogan that you can find emblazoned on assorted paraphernalia from bumper stickers and baseball caps to baby blankets. Professional Democrats tend to regard this fear and loathing of government as a right-wing pathology, but it's liable to intensify on the left as the Obama security state intensifies its attacks on Occupiers, anti-war and anti-globalization protesters, and animal-rights activists, among other left-wing dissenters.
The surveillance, harassment, entrapment, and prosecution of activists is becoming an alarming fact of life. The bipartisan war on terror has devolved into a bipartisan war on domestic dissent, especially dissent emanating from the left: Occupiers have endured police harassment and repression that Tea Party activists only imagined.

Google to start charging companies for listings
By Richard Waters in San Francisco - FT.com
Google is to start charging companies for listing their products in a core part of its search service, the first time it has converted a free section of its giant online index into a purely commercial venture.
The change to Google Product Search will mean that many merchants that have relied on the search engine to lure potential customers online will face higher costs, according to analysts.
The move also raises the prospect that Google will eventually replace other parts of its free listings with adverts, said Danny Sullivan, editor of Search Engine Land. "It represents an attitude that they're no longer going to go out and gather stuff up for free," he said.

Chris Hedges "Call to Action to create
a new Political Movement replacing corrupt Government"

As Gun Sales Skyrocket, What Is Your Source of Protection?
People seem to be getting ready for crime and riots to explode—by arming themselves to the teeth.
By JOEL HILLIKER - theTrumpet.com
Have you got your gun yet?
Americans have always loved their guns, but lately they are loading up more than ever.
U.S. civilians lead the world in private gun ownership: They own an estimated 270 million guns—nearly nine privately owned firearms for every 10 people.
Precise gun sales figures don't exist, but firearm manufacturers know the score. Because of exploding demand, they simply can't keep the shelves stocked. Gun maker Sturm, Ruger and Co. received more orders in the first quarter of this year than the number of guns it made in all of 2011. Smith & Wesson said its backlog at the end of January was $198.5 million, 169 percent of what it was the year before.

Steve Quayle "The Coming Betrayal" 1 of 2

Steve Quayle "The Coming Betrayal" 2 of 2

ticks in time....and other summer hazards... [Web bots]
By Clif High - HalfPastHuman.com
Summer (northern hemisphere) time-to-event forecasts from the data used in the last report.
June 7/8/9 - Economic and political scandal surfaces in USA. Temporal echoes show this scandal will track over June/July with 'unexpected events' within the [cult of rome] aka 'vatican'. Expect secrets to be revealed in both the USA and vatican scandals that will not only [shock], but will [horrify]. The data indicates that [communications] between [cabal members] will be [intercepted], and the [real leaks] will be [viral] in [hours]. This is indicated to lead to a [global constipation (blockage)] of the [financial flows]. This [blockage/constipation] will begin (apparently) on June 3rd late in the evening (pacific coast time, north american continent) at about 9:18pm. This [blockage] is showing as [persisting and growing] through to [exposure] via [rupture] on June 7, 8, or 9. This [constipation] and [rupture (through)] is described as a [plank] in the [gallows] for the [banksters]. This economic scandal will not be the [breaking point] for the [global economy]. That comes later in the month. The data points to the beginning of the [icelander's disease] {ed note: from the view point of the banksters} spreading to [spain], [greece], and [italy]. The [spain] references point to a [person of historical pride] as being the [populace's symbol] as they ['engage'] their [oppressors]. The data indicates [spainish populace] will be [successful], and do it with [flair], and [passion]. Data suggests that [restraint] will [prevail] in at least one of the [eruptions of icelander disease], and that [financial oppressors] who are [captured, beaten, stripped, and paraded near-naked/bruised/bloodied] will [NOT] be [killed] by the [mob], but rather will be [released] in such a [manner] that the [image] will become [the most viewed (to it's time) image on earth].

Michael Collins, Jeff Rense,
Yoichi Shimatsu Fukushima Update 21st May 2012.avi

US and Russia Trade Accusations Over Syria
By MICHAEL BROOKS - TalkingPointsMemo.com
The United States and Russia have traded sharp words over Syria.
Secretary of State Hillary Clinton has said that Russia's continued support for the Assad government could lead Syria into a full scale civil war. Speaking to an audience in Denmark she said, "[The Russians] are telling me they don't want to see a civil war. I have been telling them their policy is going to help to contribute to a civil war." She added that Russia needed to come "on board because the dangers we face are terrible."

Red Ice Radio Tom Horn Hour 1
Peter the Roman 5-22- 2012

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