Weekend Show – Sat 19 Jul, 2014

The US financial situation

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Al KorelinCory FleckPeter GrandichChris TempleGary SavageGlen Downs
Jeff Deist

  1. On July 19, 2014 at 1:13 am,
    CFS says:

    It (PMs) was just your typical friday knockdown.

    • On July 19, 2014 at 10:07 pm,
      Birdman says:

      Not this time CFS. Something is different here. Those declines merely precede a coming price rise just as the past three months steep fall in so many commodities is telling us to be on guard that an abrupt sectoral rotation between commodities and stocks is about to take place. It is my opinion that a long awaited correction in US equities has now arrived and could likely begin tomorrow. What has been undervalued for so long will now finally be in fashion again. Energy companies, Emerging Market stocks, miners, precious metals, corn, wheat, sugar….the list goes on and on. Far from a wasteland, there are a great many ways for capital to flow for safety. I am NOT anticipating a Monday gold smash in case you are wondering. I just suggest you keep n your toes at this time and not assume anything about the patterns that have been drilled into us for the past year because a lot is about to change. There is no room for complacency here.

      • On July 20, 2014 at 11:30 am,
        Big Al says:

        I don’t think that there is room for complacency anywhere right now Bird. I could certainly elaborate, but I think that everyone knows what i am talking about.

        • On July 20, 2014 at 12:17 pm,
          Birdman says:

          How about this? “23 Charts That Prove Stocks Are Heading For A Devastating Crash” from Forbes Magazine back on July 1st. It is sobering all right. The basic nut of the story is that we have run out of room to expand credit and increase debt and all that remains is either negative rates (can kicking) or the crash that will follow rate normalization. The crazy part is that this has gone on as long as it has. One day, some people will look back and wonder how it was they could have been convinced by others that everything was ok when in fact we were already seriously sick and deep in crisis….but we just did not know it.

          These 23 Charts Prove That Stocks Are Heading For A Devastating Crash – Forbes

    • On July 19, 2014 at 10:07 pm,
      Birdman says:

      Not this time CFS. Something is different here. Those declines merely precede a coming price rise just as the past three months steep fall in so many commodities is telling us to be on guard that an abrupt sectoral rotation between commodities and stocks is about to take place. It is my opinion that a long awaited correction in US equities has now arrived and could likely begin tomorrow. What has been undervalued for so long will now finally be in fashion again. Energy companies, Emerging Market stocks, miners, precious metals, corn, wheat, sugar….the list goes on and on. Far from a wasteland, there are a great many ways for capital to flow for safety. I am NOT anticipating a Monday gold smash in case you are wondering. I just suggest you keep n your toes at this time and not assume anything about the patterns that have been drilled into us for the past year because a lot is about to change. There is no room for complacency here.

      • On July 19, 2014 at 10:38 pm,
        bb says:

        interesting Bird.

        • On July 19, 2014 at 10:57 pm,
          Birdman says:

          Lets see how this week unfolds, bb. The setup is now in play.

    • On July 20, 2014 at 1:11 am,
      Dale says:

      “Is Dow 17000 Dangerously High? This Comprehensive Review May Surprise You! http://seekingalpha.com/article/2306285-is-dow-17000-dangerously-high-this-comprehensive-review-may-surprise-you

      • On July 20, 2014 at 11:32 am,
        Big Al says:

        I could not read the article as I decided not to register.

        Any opinions on that?

        • On July 20, 2014 at 12:19 pm,
          Birdman says:

          Registration does not cost, Al. And the site is pretty good for stock ideas.

          • On July 20, 2014 at 2:11 pm,
            bb says:

            I never register for sites, I find spam increases.

          • On July 20, 2014 at 2:18 pm,
            Birdman says:

            True enough. My email box gets filled daily from all the past registrations. Periodically I block the junk that seems to keep seeping in. Seeking Alpha has never sent me anything in the past five years so I give them a thumbs up.

        • On July 21, 2014 at 12:35 am,
          Dale says:

          You don’t need to register on Seeking Alpha to read that article, so I’m not sure what you’re referring to.

  2. On July 19, 2014 at 1:18 am,
    proud canuck says:

    Regarding section 3…If I recall correctly, Peter Schiff argued that if entitlements were taken away along with the welfare state and taxes lowered correspondingly (providing burdensome employment regulation brought down) than Americans would have no trouble finding a meaningful job who are seeking one.

    Consider that benefits and health and safety/vacation time etc. probably add another 50% onto the cost of employing a person…in effect a tax on production. I again challenge you to view fairtax.org and consider taxing consumption only…perhaps via a value added tax as is done in most other nations of the world…that would allow a scrapping of employment taxes, income taxes of all kinds, capital gains taxes from productive investments…while saving 100’s of billions on courts, lawyers and the IRS…which would be abolished, as would the national 73000 page tax code. America would open for business!

    We need only look to Margaret thatcher’s Britain and Reagan’s USA to see that when markets are respected as an organism, and regulation is looked at from the producer’s point of view in terms of cost of compliance ( Thatcher abolished minimum wage)…while also keeping in perspective that there are now fewer people working as a % of the population (and that those earning and producing should both be able to earn a reasonable, barrier free living) than the USA would become a country that is again the nation of opportunity, prosperity and hopefully freedom and self reliance.

    • On July 19, 2014 at 6:34 am,
      Birdman says:

      If Canada is your example Proud Canuck you must realize that neither employment taxes nor capital gains taxes were abolished with the introduction of the GST. That tax was merely a replacement for stamp duties and other import taxes. But many of those were going to be eliminated by Free Trade anyway. So in effect, what the country ended up with was all the same taxes that exist in the US with one big difference. Now there is also a consumption (VAT) tax added on top. That’s what happens. Taxation becomes additive. Nothing really got subtracted from the burdens at all.

      • On July 19, 2014 at 9:52 am,
        cecilhenry says:

        Taxes in Canada are shockingly hiring and as always government only push for more, never less.

        More after all, means more unaccountable power over others. It is having a negative effect on the economy and people’s motivation to actually work and be productive for themselves.

        I have come to realize the folly of working too hard— it all gets stolen anyways. Be a parasite. That is what’s rewarded.

        NEeds to change soon.

        • On July 19, 2014 at 10:04 am,
          cecilhenry says:

          In fact, I DON’T want to be productive, because everything I do feeds the government and their anti-freedom, anti-white, anti-worker socialist policies.

          If I step away from working the parasites can’t get at me and feed themselves. How else can I kill this parasite?

          Doing less is what kills socialism– I;m fed up. As for capital gains taxes: why are my earnings taxes twice??? There should be no taxes on taxed income if its invested.

          What’s the key and only investment safe from these parasites:

          Hookers and Beer.

          That’s the untouchable investment. Some policy.

        • On July 20, 2014 at 11:37 am,
          Big Al says:

          Necessity will definitely cause it to change soon.

      • On July 19, 2014 at 1:58 pm,
        proudcanuck says:

        I agree and consider Canada far from a model in that regard; Rather I believe some form of a fair consumption tax is the model the world…especially North America shoyld look to. It will stimulate earning savibgs and investment while discouraging frivolous spending.

      • On July 20, 2014 at 11:36 am,
        Big Al says:

        But, we would all agree that certain of them must be subtracted.

    • On July 19, 2014 at 10:48 am,

      Problem is… usa’s debts are out of this world .. need to tax their people… big sum… until all rotten… there is no solution … may be usa need to sell one of their state to the cartel and then cut the ties… 49 sovereign states is an utopia compared to 50 slaves states

      • On July 20, 2014 at 11:38 am,
        Big Al says:

        What an interesting comment!

    • On July 19, 2014 at 2:08 pm,
      proudcanuck says:

      Canada is not the model I am supporting, far from it. The fair tax is…especially when you model it on a VAT basis whereby producers are given a credit at each step to deduct the consumption tax. This will encourage earning, savings and investment…effectively allowing people to determine their own tax rate by how much they spend vs. what they save and invest….It will also reduce reliance on the welfare state as people will earn between 20-50% more income….and under the fair tax model all will get a pre-bate in the form of a monthly cheque equal to 23% of income to the poverty line cut off of roughly 30k for a family of 4 ( which would be close to $7000 annually).. I encourage everyone to view fair tax on youtube. Or go to the fairtax.org site

      • On July 20, 2014 at 11:39 am,
        Big Al says:

        I would suggest that you read and think about Steve Forbes great book on taxation.

    • On July 20, 2014 at 11:35 am,
      Big Al says:

      Obviously a number of policies must be changed, Proud.

      Taxation is only one of them. Government intervention in the markets is certainly another one although, taxation does represent government intervention doesn’t it!

      • On July 21, 2014 at 4:43 am,
        proud canuck says:

        Absolutely; having one single transparent tax would limit federal intervention…No longer would earnings, savings, investment, productivity and innovation be taxed.

  3. On July 19, 2014 at 4:38 am,
    xlurkr says:

    On Lord Haw-Haw: “William Brooke Joyce (24 April 1906 – 3 January 1946), nicknamed Lord Haw-Haw, was an Irish-American fascist politician and Nazi propaganda broadcaster to the United Kingdom during the Second World War. … Unusual for Irish Roman Catholics, both Joyce and his father were strongly Unionist. Joyce later said that he had aided the Black and Tans [notorious for their brutality] during the Irish War for Independence.”


    Presumably there were contemporary critics of ‘The Money Trust’ with less abhorrent political views that Mr Temple could have referred to…

    • On July 19, 2014 at 5:56 am,
      Temple says:

      Could be…but none I ever saw who explained the Money Power with such power and simplicity. What is your criticism of Joyce’s writing on International Finance?

      • On July 19, 2014 at 8:33 am,
        Andrew de Berry (Rev) says:

        I agree Mr Temple sir. Whether or not Joyce was misguided he saw patriotism as the highest virtue, enlisting with the British National Socialist movement in the 1930s in a sincere effort as he put it ‘to avert the tragedy (WW 2), which has come to pass’. But seeing how the poor lived and suffered he could longer espouse the patriotism of Tory Britain.
        Money will forever be either a wise servant or an all-devouring master.

      • On July 19, 2014 at 9:31 am,
        xlurkr says:

        I’m not familiar with his writings, but by recommending them you might be perceived to implicitly endorse his other views. Given accusations leveled against you in the past (eg by SPLC) perhaps something to avoid.

        Perhaps this would suffice:

        • On July 19, 2014 at 10:05 am,
          Temple says:

          I’ve never read Justice Brandeis’ book — so can’t comment on it.

  4. On July 19, 2014 at 5:02 am,
    Francis Murphy says:

    Peter Grandich puts things in prospective in a way the common man can easily grasp. I very much look forward to his appearances here.

    • On July 20, 2014 at 11:41 am,
      Big Al says:

      Trust me Francis, Pete will continue to appear on this show.

      • On July 20, 2014 at 12:48 pm,
        Ann says:

        Big Al.. Months ago you were Considering Bill Murphy as a “regular”… Things didn’t pan out? Thanks!

        • On July 20, 2014 at 1:06 pm,
          bb says:

          Silver Doc has a good interview with Bill Murphy, I guess he figures those suppressing the price of silver are close to being out of enough to continue.

          • On July 20, 2014 at 1:12 pm,
            Ann says:

            Thanks, bb, will definitely listen to the interview.

          • On July 20, 2014 at 8:40 pm,
            Birdman says:

            JPM has 6500 tonnes strategically set aside for the mother of all bull runs. It means that they can pick the day of the top if they choose by selling quantity back into the market and knocking down price. I don’t think that is the plan though. What they have is a hell of a god investment that will pay off in the next few years nicely.

          • On July 20, 2014 at 9:29 pm,
            bb says:

            I read that somewhere Bird, forget where but about a month ago I think.
            They have options alright, a comforting thought jpm determines the value of my silver holdings. I wonder if it wouldn’t be wiser to hold shares in jpm?

          • On July 20, 2014 at 10:03 pm,
            Birdman says:

            It was from last February, bb. Time flies doesn’t it. The story byline was “JPM has built the longest position in physical silver in recorded history”. My thought at the time was what took them so long! If I had the cash I would do it too especially as silver is generally tight during periods of speculation and new supply is getting harder and harder to find. But this could be a decade long gambit of theirs by snapping up physical supplies at a time when the gold/silver ratio was so distorted meaning that silver was extremely under-priced relative to gold. It is a waiting game now to see how it plays out. Personally I remain convinced that silvers strategic value is still not properly appreciated by the market especially as it plays such a key role in technologies, military hardware, solar power, energy, medical instruments and even medications. It is really the most amazing of all metals. Even at current prices it remains stupidly cheap. Supply is currently just adequate to meet demands in the industrial, speculative and jewelry markets meaning that the tipping point to send prices much higher might not involve much more than a new line of long-life auto batteries being introduced as one example. In theory anyway, it should be worth well over a hundred an ounce. We may have to wait some years for that to happen though.

            JP Morgan Holds Highest Amount Of Physical Silver In History

  5. On July 19, 2014 at 7:58 am,
    bb says:

    seg 4. Interesting Chris mentions a gold standard would not be beneficial and is not likely to happen.

    Maybe the east has a role for PMs.

    Ive agreed with Bill Still ever sinse I heard his points on gold standards, a fallacy they restrict printing in some way.

    Chris makes the point the government can produce currency in required quantities without interest.
    Currency is mearly to facilitate business, require it for taxes and people will use it.
    I just agree that currency printing shouldn’t be at interest or in private hands.
    Is that a little “anti capitilist”? I guess Rothchild and the banks might think so.

  6. On July 19, 2014 at 8:36 am,
    Andrew de Berry (Rev) says:

    Many congratulations Cory on your engagement. For us ol’ timers Al, PG and myself, all hovering around the Ruby wedding stage we’d have it no different. Behind every great man and here I only speak for the other two, there is invariably a great woman!! Best, A

  7. On July 19, 2014 at 9:00 am,
    Dick Tracy says:

    One of the issues that this program has not addressed although I have spoken about this a number of times is the overproduction of goods. I have witnessed this revolution going on for the last forty years while working primarily as an industrial electrician.

    One of the main causes of the 1930’s Great Depression was the mechanization of industry primarily due to the advancement of electrification which allowed industry to produce on a huge scale more than ever before. The banks along with the government introduced installment buying to increase the spending power of the American people. With a booming stock market bank credit and industry became inflated. When stock profits vanished installment buyers become harder to find as people worry about how to make their next payment. Now you have over productive factories operating on an unprofitable basis waiting for consumer buying power to return.

    Fast forward to today our factories require very few people to churn out millions of goods and we have had installment buying for almost one hundred years. What is the government to do to stimulate the economy at this junction in history they have only two option’s either you let the system correct or you lower the interest rate. Rather than face default they picked the latter of the two and it worked wonderfully until the debt became the primary problem as people worry about their finances. Now we are left with a society that needs to be fed and taken care of by the government. The evolution is complete the only option left is the one behind door #1.

    I will say it again what industry that was unprofitable in the 1960’s began an exodus to low wage paying countries and what is left is being transformed by artificial intelligence that leaves no jobs for the middle class, and a government with it’s back against the wall until the market decides a direction. I wonder what that might be?

    • On July 19, 2014 at 9:19 am,
      Dick Tracy says:

      There isn’t a single job now in the automotive world that can’t be or will not be replaced by robotics, even parking cars that come off the assembly line will be accomplished by driverless cars.

      • On July 20, 2014 at 11:45 am,
        Big Al says:

        Those are two great comments, Machine Gun.

        One could effectively argue that society (Western) has evolved itself into some very serious problems!

  8. On July 19, 2014 at 9:06 am,
    Temple says:

    Good point about overproduction. Again, a problem we would not have with social credit or some other form of interest-free, state-issued money (or much more barter, private trade, etc.) The fractional reserve system requires ever-expanding “economic activity” – not because we need all the crap we buy, big houses, one car for every family member, etc. – but the banking system needs us to do this, or it will collapse.

    • On July 20, 2014 at 11:46 am,
      Big Al says:

      Interesting point Temple. Worthy of discussion next time we get together over beers.

      • On July 20, 2014 at 2:17 pm,
        Dick Tracy says:

        Remember BA when you have a beer that is not drinking!

  9. On July 19, 2014 at 9:15 am,
    Chris (Not Mr. Temple) says:

    Great post, DT. It is issue I have been the thinking about myself. We are also starting to see automation happening in lower-wage jobs as well. Look at Japan for example. Some restaurants have robot waiters. Closer to home, banks have been cutting teller positions and replacing them with online banking.
    I believe countries are aware of this problem, that is why they are thinking of giving everyone a check. I posted a link a few weeks back mentioning that several academics were thinking that the Canadian government should give everyone $20,000 a year. The Swiss have been thinking the same thing.

    • On July 20, 2014 at 8:42 pm,
      Birdman says:

      Ha…funny Chris.

  10. On July 19, 2014 at 9:16 am,
    Andrew de Berry (Rev) says:

    So is the tragedy of that MH17 airliner a gruesome metaphor for that ultimate black swan preparing to tip us into world war 3? The BUK missile responsible for the attack was almost for sure launched inside Ukraine by, drunk or otherwise, Russian separatists, and from where a missile truck was photographed minus one of its missiles hurrying back to Russia. But whether or not the tragedy wos a vodka induced mistake by which a commercial airliner got confused for an Antonov military transporter won’t make much difference. Putin will go into denial. Obama will take the high moral ground, insisting that Europe impose sanctions it cannot afford to levy, and the noose tightens. Right across the Middle East from Libya back through to Ukraine we’ve got the various combatants lining up.

    Lord have mercy!

    • On July 19, 2014 at 9:43 am,
      Chris says:

      Rev, I doubt we will find out what really happened. What I want to know is who told the pilot to fly over the region? Here: https://twitter.com/VagelisKarmiros/status/489926167731142656/photo/1

      • On July 19, 2014 at 9:51 am,
        Marc, San Diego says:

        EXACTLY!…Chris..who told him to do that insane thing!?? Common everybody and their mother knew they had ‘air to surface missles”……just completely uncalled for and a complete disgraceful loss of life…just heartbreaking…….

        • On July 19, 2014 at 10:12 am,
          Chris says:

          Marc, it stinks to high heaven. My gut feeling is telling me false flag. Think Gulf of Tonkin incident.

      • On July 19, 2014 at 11:33 am,
        Andrew de Berry (Rev) says:

        Agree Chris – totally bizarre.

    • On July 20, 2014 at 11:48 am,
      Big Al says:

      Yes we certainly do, Reverend.

      And then I get up Sunday morning see on the various wire services that tens of thousands of people are rioting in London and France.

      O Lord!

  11. On July 19, 2014 at 9:58 am,
    bb says:

    July 17, 2014 | Categories: Articles & Columns | Tags: Malaysian airliner, Noyer, Putin, Russia, Ukraine, | Print This Article Print This Article

    Sanctions and Airliners

    Paul Craig Roberts

    NOTE: Photos are now available of the wreckage from the Malaysian airliner crash. Notice the extensive debris and the large section of fuselage. You are observing remains of an airliner that was hit with a missile at 33,000 feet and fell to impact land. Remember, no such debris was present at the site where the airliner is alleged to have hit the Pentagon and at the alleged crash site in Pennsylvania of the 4th 9/11 hijacked airliner. Give that some thought. No doubt but that the 9/11 Commission will conclude that only Malaysian airliners leave debris.

    I think the powers that be understand exactly what they can get away with, they have an excellent grasp of just how uneducated, gullible and maybe just how plain stupid people really are.

  12. On July 19, 2014 at 10:06 am,
    bb says:

    The unilateral US sanctions announced by Obama on July 16 blocking Russian weapons and energy companies access to US bank loans demonstrate Washington’s impotence. The rest of the world, including America’s two largest business organizations, turned their backs on Obama. The US Chamber of Commerce and the National Association of Manufacturers placed ads in the New York Times, Wall Street Journal, and Washington Post protesting US sanctions. NAM said that the manufacturer’s association is “disappointed that the US is extending sanctions in increasingly unilateral ways that will undermine US commercial engagement.” Bloomberg reported that “meeting in Brussels, leaders of the European Union refused to match the US measures.”

    In attempting to isolate Russia, the White House Fool has isolated Washington.

    The sanctions will have no effect on the Russian companies. The Russian companies can get more bank loans than they need from China, or from France and Germany.

    The three traits that define Washington–arrogance, hubris, and corruption–make Washington a slow learner. Arrogant people wallowing in hubris are incapable of learning. When they encounter resistance they respond with bribes, threats, and coercion. Diplomacy requires learning ability, but Washington left diplomacy years ago and relies on force.

    Consequently, with its sanctions Washington is undermining its own power and influence. Sanctions are encouraging countries to withdraw from the dollar payments system that is the foundation of US power. Christian Noyer, Governor of the Bank of France and a member of the European Central Bank’s Governing Council, said that Washington’s sanctions are driving companies and countries out of the dollar payments system. The huge sum extorted from the French bank, BNP Paribas, for doing business with countries disapproved by Washington makes clear the increased legal risks that arise from using the dollar when Washington makes the rules.

    Washington’s attack on the French bank was the occasion for many to remember the numerous past sanctions and to contemplate future sanctions, such as those that loom for Germany’s Commerzbank. A movement to diversify the currencies used in international trade is inevitable. Noyer pointed out that trade between Europe and China does not need to use the dollar and can be fully paid in Euros or Renminbi.

    The phenomenon of US rules expanding to all US dollar-denominated transactions around the world is accelerating the movement away from the dollar payment system. Some countries have already arranged bilateral agreements with trading partners to make their trade payments in their own currencies. The BRICS are establishing new payment methods independently of the dollar and are setting up their own International Monetary Fund to finance trade imbalances.

    The US dollar’s exchange value depends on its role in the international payments system. As this role shrivels, so will demand for dollars and the dollar’s exchange value. Inflation will enter the US economy via import prices, and already hard-pressed Americans will experience more compression of their living standards.

    In the 21st century distrust has been growing of Washington. Washington’s lies, such as Iraq’s “weapons of mass destruction,” “Assad’s use of chemical weapons,” and “Iranian nukes” are recognized as lies by other governments. The lies were used by Washington to destroy countries and to threaten others with destruction, keeping the world in constant turmoil. Washington delivers no benefit that offsets the turmoil that Washington inflicts on everyone else. Washington’s friendship requires complying with Washington’s demands, and governments are concluding that Washington’s friendship is not worth the high cost.

    The NSA spy scandal and Washington’s refusal to apologize and desist has deepened the distrust of Washington by its own allies. World polls show that other countries regard the US as the greatest threat to peace. The American people themselves have no confidence in their government. Polls show that a large majority of Americans believe that politicians, the presstitute media, and private interest groups such as Wall Street and the military/security complex rig the system to serve themselves at the expense of the American people.

    Washington’s empire is beginning to crack, a circumstances that will bring desperate action from Washington. Today (July 17) I heard a BBC news report on National Public Radio about a Malaysian airliner being shot down in Ukraine. The reporting might have been honest, but it sounded like a frame-up of Russia and the Ukrainian “separatists.” As the BBC solicited more biased opinions, the broadcast ended with a report from social media that separatists had brought down the airliner with a Russian weapon system.

    No one on the program wondered what the separatists had to gain by shooting down an airliner. Instead, the discussion was whether once Russian responsibility was established, would this force the EU to endorse tougher US sanctions against Russia. The BBC was following Washington’s script and heading the story where Washington wanted it to go.

    The appearance of a Washington operation is present. All the warmongers were ready on cue. US Vice President Joe Biden declared that the airliner was “blown out of the sky.” It was “not an accident.” Why would a person without an agenda be so declarative prior to having any information? Clearly, Biden was not implying that it was Kiev that blew the airliner out of the sky. Biden was at work in advance of the evidence blaming Russia. Indeed, the way Washington operates, it will pile on blame until it needs no evidence.

    Senator John McCain jumped on the supposition that there were US citizens aboard to call for punitive actions against Russia before the passenger list and the cause of the airliner’s fate are known.

    The “investigation” is being conducted by Washington’s puppet regime in Kiev. I think we already know what the conclusion will be.

    The probability is high that we are going to have more fabricated evidence, such as the fabricated evidence presented by US Secretary of State Colin Powell to the UN “proving” the existence of the non-existent Iraqi “weapons of mass destruction.” Washington has succeeded with so many lies, deceptions and crimes that it believes that it can always succeed again.

    At this time as I write, we have no reliable information about the airliner, but the Roman question always pertains: “Who benefits?” There is no conceivable motive for separatists to shoot down an airliner, but Washington did have a motive–to frame-up Russia–and possibly a second motive. Among the reports or rumors there is one that says Putin’s presidential plane flew a similar route to that of the Malaysian airliner within 37 minutes of one another. This report has led to speculation that Washington decided to rid itself of Putin and mistook the Malaysian airliner for Putin’s jet. RT reports that the two airplanes are similar in appearance. http://rt.com/news/173672-malaysia-plane-crash-putin/

    Before you say Washington is too sophisticated to mistake one airliner for another, keep in mind that when Washington shot down an Iranian airliner over Iranian air space, the US Navy claimed that it thought the 290 civilians that it murdered were in an Iranian fighter jet, a F-14 Tomcat fighter, a US-made fighter that was a mainstay of the US Navy. If the US Navy cannot tell its own workhorse fighter aircraft from an Iranian airliner, clearly the US can confuse two airliners that the RT report shows appear very similar.

    During the entire BBC frame-up of Russia, no one mentioned the Iranian passenger airliner that the US “blew out of the sky.” No one put sanctions on Washington.

    Whatever the outcome of the Malaysian airliner incident, it demonstrates a danger in Putin’s soft policy toward Washington’s ongoing hard intervention in Ukraine. Putin’s decision to respond with diplomacy instead of with military means to Washington’s provocations in Ukraine gave Putin a winning hand, as evidenced by the opposition to Obama’s sanctions by the EU and US business interests. However, by not bringing a quick forceable end to the Washington-sponsored conflict in Ukraine, Putin has left the door open for the devious machinations in which Washington specializes.

    If Putin had accepted the requests of the former Russian territories in eastern and southern Ukraine to rejoin Mother Russia, the Ukrainian imbroglio would have come to an end months ago, and Russia would not be running risks of being framed-up.

    Putin did not get the full benefit of refusing to send troops into the former Russian territories, because Washington’s official position is that Russian troops are operating in Ukraine. When facts do not support Washington’s agenda, Washington disposes of the facts. The US media blames Putin as the perpetrator of violence in Ukraine. It is Washington’s accusation, not any known facts, that is the basis for the sanctions.

    As there is no act too dastardly for Washington to undertake, Putin and Russia could become victims of a devious machination.

    Russia seems hypnotized by the West and motivated to be included as a part of the West. This desire for acceptance plays into Washington’s hands. Russia does not need the West, but Europe needs Russia. One option for Russia is to tend to Russian interests and wait for Europe to come courting.

    The Russian government should not forget that Washington’s attitude toward Russia is formed by the Wolfowitz Doctrine which states:

    “Our first objective is to prevent the re-emergence of a new rival, either on the territory of the former Soviet Union or elsewhere, that poses a threat on the order of that posed formerly by the Soviet Union. This is a dominant consideration underlying the new regional defense strategy and requires that we endeavor to prevent any hostile power from dominating a region whose resources would, under consolidated control, be sufficient to generate global power

    • On July 19, 2014 at 3:41 pm,
      proudcanuck says:

      I just want to thank you for your thought and effort in your above post.

      • On July 20, 2014 at 1:00 pm,
        Big Al says:

        I second that Proud, and am about to record a Daily Editorial on this with Bob and Chris.

      • On July 20, 2014 at 8:48 pm,
        Birdman says:

        I think that is an article by Paul Craig Roberts. Here is the link.

        • On July 20, 2014 at 9:36 pm,
          bb says:

          Bird, my first post, SANCTIONS AND AIRLINES, Paul Craig Roberts.
          I decided to post the whole thing as PCR has excellent viewpoints as usual and the topic was being discussed here.

  13. On July 19, 2014 at 10:36 am,
    Dick Tracy says:

    Unrest in foreign countries will deepen the malaise felt by people here as well as jeopardizing American investments abroad. When hard times set in so does the psychological reaction it causes. The chickens of the Iraq War and other hotspots are coming home to roost.

  14. On July 19, 2014 at 2:36 pm,
    Andrew de Berry (Rev) says:

    See Alex Jones below – approx. 16 mins into programme.


    • On July 19, 2014 at 2:51 pm,
      chris says:

      The MSM likes to label Alex Jones as conspiracy nut job, but he is more right than wrong. Is Martial Law coming to the US? Sure, in the very near future. The government has been buying bullets for 1) trying to limit supply and 2) use them when all hell breaks loose. The militarization of the police force is a dead giveaway where America is heading.

    • On July 19, 2014 at 3:58 pm,
      franky says:

      Day all don’t know how bad things are ! Will all see ! by strong !!!!!!!!!!!

    • On July 20, 2014 at 7:38 am,
      Mike says:

      Well now that Bush SR. died things will go fast i guess….

    • On July 20, 2014 at 1:02 pm,
      Big Al says:

      I still can’t take this seriously.

      .Let’s see what Bob and Chris think.

  15. On July 19, 2014 at 7:17 pm,
    C says:

    About local and individual economic power and living off the grid in an urban area (great example brought up by local TV):

    Unfortunately, it seems that our Western Socialist Governments are determined to punish anyone who dares to challenge the Status Quo and aspires to self-sufficiency by removing from individuals the right to exercise and own their individual means of production:

  16. On July 19, 2014 at 7:19 pm,
    C says:

    About local and individual economic power and living off the grid in an urban area (great example brought up by local TV):

    • On July 20, 2014 at 2:32 pm,
      franky says:


  17. On July 19, 2014 at 7:20 pm,
    C says:

    Unfortunately, it seems that our Western Socialist Governments are determined to punish anyone who dares to challenge the Status Quo and aspires to self-sufficiency by removing from individuals the right to exercise and own their individual means of production:

  18. On July 19, 2014 at 11:26 pm,
    Birdman says:

    There is no more time to post this weekend but I just wanted to say to Al, Cory and the guests that I thought this weeks show was quite thoughtful. Well done guys.

    • On July 20, 2014 at 1:03 pm,
      Big Al says:

      Thanks Bird,

      Appreciate it.

  19. On July 20, 2014 at 12:43 pm,
    bb says:

    Its the 20th, isn’t the world supposed to end today? clues were the numerology speech.
    Except I don’t see anything out of the ordinary, riots, wars, rumours of wars, same ol stuff.

    • On July 20, 2014 at 1:03 pm,
      Big Al says:

      At this moment in time, bb, I agree!

  20. On July 20, 2014 at 1:01 pm,
    Birdman says:

    No, we already got our answer on the sevens, bb. That was when a 777 got shot down I thought and it is going to be confirmed when the death toll of the Malaysian airliner combined with the death toll in Gaza also equals 777. We were only at 723 last time I checked. Keep up man!

  21. On July 20, 2014 at 1:08 pm,
    bb says:

    My mistake Bird, I will pay closer attention.

    • On July 20, 2014 at 1:16 pm,
      Birdman says:

      777 is the new 666. Watch out when it goes to 8’s next year.

    • On July 20, 2014 at 10:11 pm,
      Birdman says:

      And here is a date for you to get cautious around….. It is September 9th 2016. That will be a 999 of course, an ending or a conclusion of some sort. The winter. Also suggests a crisis before a period of renewal or new beginnings. Who knows, maybe this bull market will run that long!

  22. On July 20, 2014 at 10:38 pm,
    Birdman says:

    So now we wait and watch. Will oats bottom at 300? (another 28 dollar decline). Will rice reverse off of 12 dollars (just a dollars distance from here)…..will corn break out at 350 or is the lower floor at 300 in the cards? The former is just a hop, skip and jump from this mornings 366.60. Meanwhile, wheat is nearing 5 year lows along with soybean meal and oils. Cotton is just 8 bucks away from its 2009 low showing and if sugar touches down at 15 dollars again it looks to be a great bet. I encourage everyone to take special note of what is happening in the bigger picture of the commodity space. How about heating oil which generally starts rising in the second half of the year or natural gas that looks like it wants to see 3.50 before turning around again? In my scenario we could see key reversals in many of these during August and that suggests a decline in stocks is in the works. It is just a theory of course as each market has its own rhythm. But bottoms in resources and commodities indicate interim tops in equities are also evolving.