The ridiculous extent of fraud in banking:
IN #BITCOIN I TRUST!!!!! @USAWatchdog
The EPA’s highest-paid employee and a leading expert on climate change was sentenced to 32 months in federal prison Wednesday for lying to his bosses and saying he was a CIA spy working in Pakistan so he could avoid doing his real job.
John C. Beale’s crimes were “inexplicable” and “unbelievably egregious,” said Judge Ellen Huvelle in imposing the sentence in a Washington. D.C. federal court. Beale has also agreed to pay $1.3 million in restitution and forfeiture to the government.
You may recall that when Barack Obama was running for president in 2008, he said he would “bankrupt” the coal-fired energy industry. That would mean everyone’s energy prices would “necessarily skyrocket,” and he thought that was a good thing.
This editorial in the Wall Street Journal the other day (subscription required) shows that Obama’s politicized Environmental Protection Agency is doing all it can to make his promise happen. And to do so, Obama’s EPA is engaging in a War On Science.
According to the WSJ, the EPA “cut out the [agency’s] independent science advisers who exposed the junk science behind the EPA ban on newcoal power.”
They should be lined up and shot.
The EU allows Europeans politicians to behave more like their US counterparts. From today’s Open Europe news summary:
The European Court of Auditors has concluded that the €1bn of EU aid to Egypt over the last seven years under the European Neighbourhood Policy has been “well-intentioned, but ineffective” in terms of improving human rights and democracy.
ECA press release Le Figaro FT
The price of bullion is not set in the physical market where individuals take delivery of bullion purchases. It is set in the paper futures market where short selling can drive down the price even if the demand for physical possession is rising. The paper gold market is also the market in which people speculate and leverage their positions, place stop-loss orders, and are subject to margin calls.
When the enormous naked shorts hit the COMEX, stop-loss orders were triggered adding to the sales, and margin calls forced more sales. (Read more)
Is your coutry’s GDP too low? No problem! Just lie. I can almost *feel* the economy getting healthier. Whelp, I’m off to sell my gold and buy government bods.
I smell something fishy — that market-manipulating, terrified-central-banker smell.
The likelihood of the decline: http://www.zerohedge.com/news/2013-04-16/presenting-golds-7-sigma-move