18 Signs That Global Financial Markets Smell Blood In The Water

July 19th, 2011

The Economic Collapse

Can you smell it? There is blood in the water. Global financial markets are in turmoil. Banking stocks are getting slaughtered right now. European bond yields are absolutely soaring. Major corporations are announcing huge layoffs. The entire global financial system appears to be racing toward another major crisis. So could we potentially see a repeat of 2008? Sadly, when the next big financial crisis happens it might be worse than 2008. Back in the middle of 2008, the U.S. national debt was less than 10 trillion dollars. Today it is over 14 trillion dollars. Back in 2008, none of the countries in the EU were on the verge of financial collapse. Today, several of them are. This time if the global financial system starts falling apart the big governments around the world are not going to be able to do nearly as much to support it. That is why what is happening right now is so alarming. As signs of weakness spread, the short sellers and the speculators are starting to circle. They can smell the money.

Back in 2008, bank stocks led the decline. Today, that appears to be happening again. The “too big to fail” banks are getting absolutely pummeled right now. Most people don’t have much sympathy for the banksters, but if we do see a repeat of 2008 they are going to be cutting off credit and begging for massive bailouts once again, and that would not be good news for the economy.

In Europe, the EU sovereign debt crisis just seems to get worse by the day. Bond yields for the PIIGS are going haywire. The higher the yields go, the worse the crisis is going to get.

Meanwhile, as I have written about previously, a bad mood has descended on world financial markets. Pessimism is everywhere and fear is spreading. The short sellers and the speculators are eager to jump on any sign of weakness. Investors all over the globe are extremely nervous right now.

So what happens next?

Well, nobody knows for sure.

But things certainly do not look good.

The following are 18 signs that global financial markets smell blood in the water….

#1 Banks stocks are absolutely getting hammered right now. Bank of America hit a 52 week low on Monday. Bank of America shares declined 4 percent to $9.61.

#2 So far this year, Bank of America stock is down about 27 percent.

#3 Bloomberg is reporting that Bank of America may be forced to increase its capital cushion by 50 billion dollars.

#4 Shares of Goldman Sachs and Morgan Stanley are near two year lows.

#5 Shares in Citigroup fell 2.5 percent on Monday.

#6 Moody’s recently warned that it may be forced to downgrade the debt ratings of Bank of America, Citigroup and Wells Fargo.

#7 Barclays Capital, Goldman Sachs, Bank of America, JPMorgan Chase and Morgan Stanley are all either considering staff cuts or are already laying workers off.

#8 The deputy European director of the International Monetary Fund says that the Greek debt crisis is “on a knife’s edge”.

#9 Moody’s has slashed Ireland’s bond rating all the way to junk status.

#10 The yield on 2 year Portuguese bonds is now over 20 percent, the yield on 2 year Irish bonds is now over 23 percent and the yield on 2 year Greek bonds is now over 35 percent.

#11 Shares of Italy’s largest bank dropped by a whopping 6.4% on Monday.

#12 On Monday, the yield on 10 year Italian bonds was the highest it has been since the euro was adopted.

#13 On Monday, the yield on 10 year Spanish bonds was also the highest it has been since the euro was adopted.

#14 Shares of Germany’s largest bank fell by a staggering 7% on Monday and are down a total of 22% so far this month.

#15 Citigroup’s chief economist, William Buiter, says that without direct intervention by the ECB there is going to be a wave of sovereign defaults across Europe….

#16 Cisco has announced plans to axe 16 percent of its workers.

#17 Borders Group has announced that it will be liquidating all remaining assets. That means that 399 stores will be closed and 10,700 workers will lose their jobs.

#18 During times of great crisis, many investors seek safe havens for their money. On Monday, the price of gold shot past $1600 an ounce.

These are not normal financial times. The worldwide debt bubble is starting to burst and nobody is quite sure what is going to happen next. Certainly we are going to continue to see financial authorities all over the world do their best to keep the system going. But as we saw in 2008, things can spiral out of control very quickly.

Just remember, back at the beginning of 2008 very few people would have ever imagined that the biggest financial institutions in America would be begging for hundreds of billions of dollars in bailouts by the end of that year.

When confidence disappears, the game can change very quickly. To the vast majority of economists it would have been unimaginable that the yield on 2 year Greek bonds would be over 35 percent in mid-2011.

But here we are.

The entire global financial system is a house of cards built on a foundation of sand. It is more vulnerable today than it has been at any other time since World War II. When a couple of major dominoes fall, it is likely to set off a massive chain reaction.

The global financial system of today was not designed with safety and security in mind. It was designed for greedy people to be able to make as much money as possible as quickly as possible. The banksters don’t care about the greater good of mankind. What they care about is making huge piles of cash.

There is way too much risk, way too much debt and way too much leverage in the global financial marketplace. You would have thought that 2008 should have been a major wake up call for financial authorities around the world, but very few significant changes have been made since that time.

The financial news is just going to keep getting worse. This financial system is simply unsustainable. It is fundamentally unsound. The reality is that financial bubbles cannot keep expanding forever. Eventually they must burst.

Over the next few weeks, keep a close eye on banking stocks and keep a close eye on European bond yields.

Hopefully things will stabilize.

Hopefully the next wave of the financial collapse is not about to hit us.

Hopefully the entire global financial system is not on the verge of a major implosion.

But you might want to get prepared just in case.

Click here for the full report from The Economic Collapse

Whistleblower Found Dead!

July 19th, 2011

Guardian.co.uk

By: Amelia Hill, James Robinson and Caroline Davies

Sean Hoare, the former News of the World showbusiness reporter who was the first named journalist to allege that Andy Coulson was aware of phone hacking by his staff, has been found dead .

Hoare, who worked on the Sun and the News of the World with Coulson before being dismissed for drink and drugs problems, was said to have been found at his Watford home.

Hertfordshire police would not confirm his identity, but said in a statement: “At 10.40am today [Monday 18 July] police were called to Langley Road, Watford, following the concerns for the welfare of a man who lives at an address on the street. Upon police and ambulance arrival at a property, the body of a man was found. The man was pronounced dead at the scene shortly after.

“The death is currently being treated as unexplained but not thought to be suspicious. Police investigations into this incident are ongoing.”

There was an unexplained delay in the arrival of forensics officers at the scene.

Neighbours said three police cars and two ambulances arrived at the property shortly before 11am. They left around four hours later, around 3pm, shortly after a man and a woman, believed to be grieving relatives, arrived at the premises. There was no police presence at the scene at all for several hours.

The curtains were drawn at the first-floor apartment in a new-build block of flats.

At about 9.15pm, three hours after the Guardian revealed Hoare had been found dead a police van marked “Scientific Services Unit” pulled up at the address, where a police car was already parked. Two officers emerged carrying evidence bags, clipboards, torches and laptop-style bags and entered the building. Three officers carrying cameras and wearing white forensic suits went into the flat at around 9.30pm.

Hoare was in his mid-40s. He first made his claims in a New York Times investigation into the phone-hacking allegations at the News of the World. He told the newspaper that not only did Coulson know of the hacking, but he also actively encouraged his staff to intercept the calls of celebrities in the pursuit of exclusives.

In a subsequent interview with the BBC he alleged he was personally asked by his editor at the time, Coulson, to tap into phones. In an interview with the PM programme he said Coulson’s insistence he did not know of the practice was “a lie, it is simply a lie”. At the time a Downing Street spokeswoman said Coulson totally and utterly denied the allegations; he had “never condoned the use of phone hacking and nor do I have any recollection of incidences where hacking took place”.

Hoare said he was once a close friend of Coulson’s, and told the New York Times the two first worked together at the Sun, where, Hoare said, he played recordings of hacked messages for Coulson. At the News of the World, Hoare said, he continued to inform Coulson of his activities. He “actively encouraged me to do it”, Hoare said. In September last year he was interviewed under caution by police over his claim the former Tory communications chief asked him to hack into phones when editor of the paper, but declined to make any comment.

Hoare returned to the spotlight last week, after he told the New York Times that reporters at the NoW were able to use police technology to locate people using their mobile phone signals, in exchange for payments to police officers. He said journalists were able to use “pinging”, which measured the distance between a mobile handset and a number of phone masts to pinpoint its location.

Hoare gave further details about “pinging” to the Guardian last week. He described how reporters would ask a news desk executive to obtain the location of a target: “Within 15 to 30 minutes someone on the news desk would come back and say ‘Right, that’s where they are.’”

He said: “You’d just go to the news desk and they’d come back to you. You don’t ask any questions. You’d consider it a job done.

“The chain of command is one of absolute discipline, and that’s why I never bought into it, like with Andy saying he wasn’t aware of it and all that. That’s bollocks.”

He said he stood by everything he told the New York Times of “pinging”. “I don’t know how often it happened. That would be wrong of me. But if I had access, as a humble reporter … ”

He admitted he had had problems with drink and drugs, and had been in rehab. “But that’s irrelevant,” he said. “There’s more to come. This is not going to go away.”

Hoare named a private investigator who he said had links with the News of the World, adding: “He may want to talk now, because I think what you’ll find now is a lot of people are going to want to cover their arse.” Speaking to another Guardian journalist last week, Hoare repeatedly expressed the hope that the hacking scandal would lead to journalism in general being cleaned up, and said he had decided to blow the whistle on the activities of some of his former NoW colleagues with that aim in mind.

He also said he had been injured the previous weekend while taking down a marquee erected for a children’s party. He said he broke his nose and badly injured his foot when a relative accidentally struck him with a pole from the marquee. Hoare also emphasised that he was not making any money from telling his story.

Having been treated for drug and alcohol problems, Hoare reminisced about his partying with former pop stars and said that he missed the days when he was able to go out on the town.

On Monday evening the curtains were drawn at his home, a first-floor apartment in a new-build block of flats.

A neighbour living opposite, Nicky Dormer, said three police cars and two ambulances arrived at the property at 11am; police left at 3pm, shortly after a man and a woman, believed to be grieving relatives, arrived at the premises.

She and another neighbour described Hoare as a jovial man who would often sit on his balcony, overlooking the block entrance, and talk to residents. They said he lived in the block with his partner, a woman called Jo, who they believed had been away on holiday. Neither had seen Hoare for a few days.

Paul Pritchard, 30, another neighbour, said Sean Hoare was “the most sociable” resident, and they would regularly see him watering the communal front lawn.

“It is just such a shock. About a month ago he said he felt unwell and he said he went to the doctors for a checkup. Then I saw him again and he seemed well.”

Click here for the full report from Guardian.co.uk

My Viewpoint On Protein Shakes

Someone called into my daily radio program the other day and asked me for my opinion on protein shakes. Let me give you my opinion on protein shakes, superfood smoothies, and anything else that you make in a blender or a Vitamix type of thing…

There are health nuts out there, and I say that affectionately of course. Many of these people are a little fanatical and they believe that if you want to be healthy, you have to have at least a blender, but ideally a Vitamix.

They believe that you should take an apple and throw it into the blender. Then take some kale, cucumber, and maybe some superfoods, like spirulina powder, whey protein, or ginseng root, and you put those ingredients into a Vitamix and turn that sucker on and it goes crazy and liquefies everything into a drinkable beverage. Some health advocates believe that this is the best way to get the nutrients your body needs. I do not believe that. Don’t get me wrong; that drink will be loaded with vitamins, minerals, protein, and living enzymes, but I don’t think it’s helping your body get any healthier. I think it is actually hurting your body.

Click here to find out why: http://bit.ly/owkVi1

Yours in health…
KT

AIDS Drugs Linked To Premature Aging, Dementia, And Heart Disease

July 18th, 2011

Natural News

By: Jonathan Benson

A study recently published in the journal Nature Genetics explains that nucleoside analog reverse-transcriptase inhibitors, or NRTIs, which are drugs used primarily in Africa and other developing regions of the world to treat HIV and AIDS, are responsible for causing heart disease, dementia, premature aging, and other age-related illnesses.

Originally introduced in the late 1980s, many NRTIs have since been replaced in developed countries by newer, and much more expensive, antiretroviral drug cocktails that may be just as damaging. But the older NRTIs are still being used on the poor with HIV and AIDS, and their devastating side effects are only just now beginning to be realized.

“It takes time for these side effects to become apparent, so there is a question mark about the future and whether or not the newer drugs will cause this problem,” said Patrick Chinnery, lead author of the study from the Institute of Genetic Medicine at Newcastle University, to Reuters in a telephone interview. “They are probably less likely to, but we don’t know because we haven’t had time to see.”

Scientists observed that the chemical compounds in NRTIs damage DNA in patients’ mitochondria, which are the power producers for cells. When these important structural elements become harmed or destroyed, they are unable to produce energy for cells, which can lead to a host of health problems and eventually death.

“The DNA in our mitochondria gets copied throughout our lifetimes and, as we age, naturally accumulates errors,” added Chinnery. “We believe these HIV drugs accelerate the rate at which these errors build up. So over the space of, say, ten years, a person’s mitochondrial DNA may have accumulated the same amount of errors as a person who has naturally aged 20 or 30 years.”

The findings illustrate the general fact that the unknown, long-term dangers associated with all types of drugs have not been properly identified. Because NRTIs and most other drugs have never been tested for long-term side effects, it is highly likely that a great majority of them will eventually be identified as damaging in much the same way as NRTIs.

Click here for the full report from Natural News

Fred Van Liew

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Fred Van Liew on The Kevin Trudeau Show 07/18/11

The Kevin Trudeau Show: 7-18-11

Today, friend of the show, Fred Van Liew, stops by to give you the facts behind electromagnetic chaos and how it is virtually killing you and your children. Don’t become a statistic. Find out what you can do to protect yourself and your family before it’s too late!

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Rebekah Brooks Arrested Over Phone-Hacking Allegations

July 18th, 2011

Guardian.co.uk

By: Vikram Dodd and Juliette Garside

Rebekah Brooks has been arrested by police investigating allegations of phone hacking by the News of the World and allegations that police officers were bribed to leak sensitive information.

The Metropolitan police said a 43-year-old woman was arrested at noon on Sunday, by appointment at a London police station.

Brooks, 43, resigned on Friday as News International’s chief executive. She is a former News of the World editor and was close to Rupert Murdoch and the prime minister, David Cameron.

A spokesman for Brooks said she did not know she was going to be arrested when she handed in her resignation.

Brooks was taken into custody at midday on Sunday, after agreeing to attend a London police station for questioning. Her spokesman, Bell Pottinger chairman David Wilson, said she did not know she was to meet with police until late on Friday, and that she did not know the appointment would result in her arrest.

The News International chief executive announced her immediate departure from the company on Friday morning. She had agreed to give evidence this coming Tuesday to the culture select committee’s inquiry into allegations of phone-hacking at the News of the World.

Her lawyers are currently in discussion with the committee about whether she should attend. Wilson said: “It’s left Rebekah in a very difficult position and has left the committee in a very difficult position”.

An arrest by appointment on a Sunday by police is unusual.

In a statement the Met said: “The MPS [Metropolitan police service] has this afternoon, Sunday 17 July, arrested a female in connection with allegations of corruption and phone hacking.

“At approximately 12.00 a 43-year-old woman was arrested by appointment at a London police station by officers from Operation Weeting [phone hacking investigation] together with officers from Operation Elveden [bribing of police officers investigation]. She is currently in custody.

“She was arrested on suspicion of conspiring to intercept communications, contrary to Section1(1) Criminal Law Act 1977 and on suspicion of corruption allegations contrary to Section 1 of the Prevention of Corruption Act 1906.

“The Operation Weeting team is conducting the new investigation into phone hacking.

“Operation Elveden is the investigation into allegations of inappropriate payments to police. This investigation is being supervised by the Independent Police Complaints Commission.

“It would be inappropriate to discuss any further details regarding these cases at this time.”

Click here for the full report from Guardian.co.uk

Federal Court Rules That TSA ‘Naked Scans’ Are Constitutional

July 18th, 2011

Forbes.com

By: Kashmir Hill

Last weekend, a Tennessee woman was arrested at the Nashville airport for disorderly conduct after she refused TSA security measures for her children. The woman didn’t want her two children to have to go through a whole-body-imaging scanner. When a Transportation Security Administration officer told her the machines were safe, she said, “I still don’t want someone to see our bodies naked.”

She won’t be pleased with a ruling then out of the D.C. Circuit today. This morning, the federal court ruled that the “naked scans” of air travelers do not violate Americans’ constitutional rights. Privacy rights group EPIC had sued the Department of Homeland Security, alleging violations of innocent passengers’ Fourth Amendment right to be free of unreasonable searches. The court says that argument doesn’t fly.

In the opinion [pdf] from the D.C. Circuit Court (the Volokh Conspiracy), Judge Douglas Ginsburg writes that the advance imaging technology is not unreasonable given the security concerns on airplanes, and that people have the option to opt out for a pleasurable patdown. The court notes that some “have complained that the resulting patdown was unnecessarily aggressive,” but the judges don’t seem overly concerned about that. Ginsburg writes:

On the other side of the balance, we must acknowledge the steps the TSA has already taken to protect passenger privacy, in particular distorting the image created using AIT and deleting it as soon as the passenger has been cleared. More telling, any passenger may opt-out of AIT screening in favor of a patdown, which allows him to decide which of the two options for detecting a concealed, nonmetallic weapon or explosive is least invasive.

Good news for body scanner manufacturers Rapiscan and L-3. Bad news for those who don’t like having to choose between digital nudity and frisking. Legal scholar Orin Kerr of the Volokh Conspiracy expresses mild surprise at how easily the court dismissed privacy concerns with the TSA screens, as he regards the court as a Fourth-Amendment-friendly one.

There was a small rebuke in the opinion for the TSA. The judges ruled that the TSA had violated an administrative law requiring public comment before issuing a new rule making the body scanners their primary tool for airport security. It would be too disruptive to have the TSA stop using the scanners, writes Judge Ginsburg, but they do expect that the TSA will now take comments. In this case, “better late than never” doesn’t really mean much.

Click here for the full report from Forbes.com

Nude Woman Found Dead At Mansion Of Pharmaceutical Firm CEO

July 18th, 2011

CBS Los Angeles

Investigators on Friday were searching for clues surrounding the mysterious death of a woman at a beachfront mansion in one of Southern California’s most prestigious neighborhoods.

Rebecca Nalepa, 32, was found dead at the historic Spreckels mansion in Coronado, hanging from a balcony in the nude with her hands tied behind her back and her feet bound.

KNX 1070′s Tom Reopelle reports officials are still figuring out how to proceed with the investigation.

“Because of the unique and bizarre circumstances of this incident, it has yet to be determined if this will become a criminal matter or remain as a death investigation,” said San Diego County sheriff’s Capt. Tim Curran.

Nalepa was the girlfriend of homeowner Jonah Shacknai, chairman and chief executive of Scottsdale, Ariz.-based Medicis Pharmaceutical Corp.

Curran said the body was discovered by Shacknai’s brother, Adam, who called 911 Wednesday morning to report that the woman appeared to be dead.

The brother was staying in a guesthouse at the Coronado mansion, but Shacknai was not home at the time the body was discovered.

On Monday, Jonah Shacknai’s 6-year-old son was hospitalized following an apparent accident.

Click here for the full report from CBS Los Angeles

What Murdoch Faces Now

July 18th, 2011

The New Yorker

By: Ken Auletta

For nearly two weeks, Rupert Murdoch and his people have claimed that the newspaper scandal in London was caused by a few rotten apples. Now that a very large apple, Rebekah Brooks, has been arrested, it is clear that it is the entire barrel that is rotten. Since many editors had to have known of the illegal hacking, and many people on the business side would have had to sign off on large, illegal payments to the police for information, more apples will drop in coming days. And not only at News Corp.: Sir Paul Stephenson, commissioner of the Metropolitan Police, resigned Sunday. The best public-relations advice in the world will not help contain what is, for Murdoch, a spreading contagion that is no longer confined to London.

In the United Kingdom, Murdoch and his son James will have to tell a Parliamentary committee on Tuesday what they knew and when they knew it. More than that, they will have to try to rescue their company from multiple government onslaughts and criminal investigations from members of Parliament who think they must impose curbs on News Corp.’s ownership of newspapers and television and sports in England, and from shareholders who claim they have been cheated.

In the United States, News Corp., as an American company, will, among other things, have to explain why it has not violated the Foreign Corrupt Practices Act, which makes it unlawful to pay bribes to government officials overseas—a proscription that includes the London police; whether the New York Post (or any of the company’s British newspapers) hacked into the mail or phone calls of celebrities in this country or of the families of 9/11 victims; and why their unethical behavior does not disqualify them under F.C.C. rules that require that those who license TV stations must be of solid moral character. Les Hinton, the head of Dow Jones and one of Murdoch’s senior executives in this country, has already resigned. (I wrote about Hinton’s departure on Friday.)

Murdoch’s influence with government officials here and abroad will not help him escape this time. In the current environment, will politicians, even those who courted him in the past, want be seen at his side, or risk their careers to come to his aid? The dam has sprung multiple leaks, and Rupert Murdoch doesn’t have enough fingers to stop the gushing water.

Click here for the full report from The New Yorker

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