Brexit Post-Mortem

By Alasdair Macleod  Re-Blogged From GoldMoney

It is a month after Britain’s surprise vote to leave the EU. A new Conservative Prime Minister and Chancellor are in place, both David Cameron and George Osborne having fallen on their swords. The third man in the losing triumvirate, Mark Carney, is still in office. Having taken a political stance in the pre-referendum debate, there can be little doubt the post-referendum fall in sterling was considerably greater than if he had kept on the side-lines.

This article takes to task the Treasury’s estimates of the effect of Brexit on the British economy and Mr Carney’s role in the affair, then assesses the actual consequences.

Continue reading

Voter IDs and Voter Fraud

By Michael Ware – Re-Blogged From http://www.Constitution.com

One of the greatest concern for conservatives in the upcoming election is that of voter fraud. And to alleviate that fear, many states have crafted and passed voter Id laws. These laws in their various forms require a photo identification for a person to be able to vote. This would be one more safeguard against one side stealing the race from the other. But this is not how some see the law.

From the beginning, many have claimed that this had racial motives. The argument is simple enough. The states that are seeking to enact these laws are Republican-led Legislatures, and they are trying to dampen the black vote. Now, appeals courts are saying the same thing.

Continue reading

Weekly Climate and Energy News Roundup #233

The Week That Was: July23, 2016 – Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project

Political Fads: Roy Spencer has written a 22-page booklet, “A Guide to Understanding Global Temperature Data,” published by the Texas Public Policy Foundation and available on the web at no cost. The booklet covers some of the scientific research that demolish a number of fashionable beliefs on global warming/climate change. First and foremost is the fad seized upon by some politicians that global warming skeptics are funded, or paid-off, by Exxon or other oil companies, etc. The recent antics by certain Senators and state attorneys general failed to present convincing evidence. In fact, later it was claimed that the purpose of the investigations was to find evidence – as if IRS filings of Exxon are not available or not reviewed. The US Government has spent over $40 Billion since 1993 on what it calls climate science. Comparable spending by Exxon cannot be hidden.

Unlike the US government, which has not undergone a full audit since the 1990s, stockholder-held corporations are subject to rigorous audits. Conversely, a February 26, 2015 report by the U.S. Government Accountability Office (GAO) states that major impediments, uncertainties, and material weaknesses prevent its ability to conduct an effective audit. The IRS and the SCC would not permit such a report from Exxon.

Continue reading

Corrupt Or Just Stupid? Markets Hand Corporations An Unlimited Credit Card

By John Rubino – Re-Blogged From Dollar Collapse

In the sound money community it’s generally understood that abandoning the last vestige of the gold standard in 1971 gave major countries effectively-unlimited credit cards – which corrupted them irredeemably.

Now – with government bonds yielding either next to or less than nothing – that corruption has begun to spread to corporations, whose bonds are being snapped up by yield-deprived investors. For example:

Japan stock investors learn to love corporate debt

(Nikkei) — A shift is taking place in the Japanese stock market. Companies that take risks rather than playing it safe and transform themselves to seize growth opportunities are the new darlings among investors.

Continue reading

Zero Percent Mortgages Debut Setting Up The Next Stage For This Stock Market Bull

By Sol Palha – Re-Blogged From http://www.Silver-Phoenix500.com

Economists stated that main trigger for the financial crisis of 2008 was the issuance of mortgages that did not require down payments.  The ease at which one could get mortgages in the past is what drove housing prices to unsustainable levels. Post-crisis all banks vowed to end the practice forever, or that is what they wanted everyone to believe.   When the credit markets froze, we openly stated that the 1st sign that banks were getting ready to lower the bar again would come in the form of Zero percent balance transfer offers that had all but vanished after 2008.  A few years after 2008, banks started to mail these offers out. Consequently now, everywhere you look you can find 0 % balance transfer offers ranging from 12 months to 18 months.  The next step after that would be for banks to lower the 20% down payment required to something much lower. Currently, Bank of America and a few other banks are offering 3% down mortgages.

Now Barclays Bank has become the first British bank to turn back the hands of time; it has started to issue 0% down Mortgages under a program called “family springboard”.  There is, however, one small difference. In this instance, a parent would put 10% of the down payment into an account. If payments are made in a timely fashion, this amount is returned in three years with interest.

Continue reading

Romania Did This…And Now It’s Among The Fastest Growers In Europe

By Frank Holmes – Re-Blogged From http://www.Gold-Eagle.com

In 1974 the American economist Arthur Laffer, then a professor at the University of Chicago, was having dinner with his friend Jude Wanniski, an associate editor of the Wall Street Journal. They were joined by Donald Rumsfeld and Dick Cheney, both of whom worked at the time in the Gerald Ford administration. The topic at hand was President Ford’s Whip Inflation Now, or WIN, initiative, which included proposed tax increases.

Continue reading

The Fed’s Loud Talk Policy

By Peter Schiff – Re-Blogged From Euro Pacific Capital

Theodore Roosevelt’s famous mantra “speak softly and carry a big stick” suggested that the United States should seek to avoid creating controversies and expectations through loose or rash pronouncements, but be prepared to act decisively with the most powerful weaponry, when the time came. More than a century later, the Federal Reserve has stood Teddy’s maxim on its head. As far as Janet Yellen and her colleagues at the Fed are concerned, the Fed should speak as loudly, frequently, and as circularly as possible to conceal that they are holding no stick whatsoever.

Roosevelt’s “stick” was America’s military might, which in his day largely boiled down to the US Navy, which he had enlarged and modernized. To demonstrate to a potential adversary that he was prepared to use these weapons, Roosevelt sent the fleet around the world in a massive show of force. However, he took care to couch the expedition in soothing rhetoric. He even ordered the battleships to be painted white to create the impression that they were angels of mercy rather than instruments of power. The combination proved effective. America’s global influence increased dramatically during his presidency even though few shots were fired.

Continue reading