In The News Today

Posted at 2:03 PM (CST) by & filed under In The News.

My Dear Friends,

The thesis of MSM is that "Nothing must ever disturb the social order." Mother Nature can do this in seconds, and an overnight collapse of confidence in the dollar will do it in three days.

Currency induced cost push inflation is what will collapse confidence overnight and cause an explosion in the velocity of money in three days. Study history. It has happened before and will happen again. Although you will not want to hear this, it is true.

Ben Bernanke is the only person in the US financial management that thoroughly understands the mess that has been made, that which I have taught you. His action with QE is the only tool to buy time. QE is the only way the can gets kicked down the road for 3 years, preventing for some time, a total collapse. To fire Bernanke will be the single greatest error made in US financial management ever. We are over the cliff and in a free fall. Anyone speaking austerity and the dollar is unknowingly speaking about the final Western world financial collapse, without any remedy, within 9 months. If they knew, they would keep their mouths shut.

What I know and Bernanke knows is that your vote next week in the USA is for immediate (9 months) collapse or for the test coming between 2015 and 2017. You have the right to select the time of the end. This choice of leadership is between the devil you know or the devil you do not know.

Having your business assets in East Africa is a calming feeling. Two major Brics taking Tanzania under their wing gives me comfort. The choice of next week’s election in the USA is gold at and above $3500 either immediately defined as within 6 to 9 months from now, or in 2015-2017. The US dollar will trade at USDX .7200 and lower in the same timeframes resulting from your vote.

Choose wisely,
Jim

Queens residents arm themselves in the post-storm blackout from looters
Residents feel isolated and some use guns, baseball bats, booby traps — even a bow and arrow — to defend themselves.
By Clare Trapasso , Mark Morales AND Corky Siemaszko / NEW YORK DAILY NEWS
Friday, November 2, 2012, 8:44 PM

When night falls in the Rockaways, the hoods come out.

Ever since Sandy strafed the Queens peninsula and tore up the boardwalk, it’s become an often lawless place where cops are even scarcer than electrical power and food. Locals say they are arming themselves with guns, baseball bats, booby traps — even a bow and arrow — to defend against looters.

Thugs have been masquerading as Long Island Power Authority (LIPA) workers, knocking on doors in the dead of night. But locals say the real workers have been nowhere in sight, causing at least one elected official — who fears a descent into anarchy if help doesn’t arrive soon — to call for the city to investigate the utility.

Further exacerbating desperate conditions, it could take at least a month to repair the the bridge that connects the Rockaways to the city subway system, officials said.

“We booby-trapped our door and keep a baseball bat beside our bed,” said Danielle Harris, 34, rummaging through donated supplies as children rode scooters along half-block chunk of the boardwalk that had marooned into the middle of Beach 91st St.

“We heard gunshots for three nights in a row,” said Harris, who believed they came from the nearby housing projects.

Carly Ruggieri, 27, who lives in water-damaged house on the block, said she barricades her door with a bed frame. “There have been people in power department uniforms knocking on doors and asking if they’re okay, but at midnight.”

And another local surfer said he has knives, a machete and a bow and arrow on the ready. Gunshots and slow-rolling cars have become a common  fixture of the night since Hurricane Sandy.

More…

Jim Sinclair’s Commentary

Only if the QE now in Euroland continues. It is the only tool to buy some time – about 3 years.

Merkel: debt crisis will last five more years
Saturday, November 03, 2012 – 02:54 PM

German Chancellor Angela Merkel says Europe’s sovereign debt crisis will last at least five more years.

Mrs Merkel says the continent is on the right path to overcome the crisis but “whoever thinks this can be fixed in one or two years is wrong”.

Two years ago some heavily indebted European countries were dragged into the turmoil that first gripped global financial markets in 2007.

Greece in particular has been struggling with the austerity conditions imposed on it by countries such as Germany.

But Merkel told a regional meeting of her Christian Democratic Party today that the time had come for “a bit of strictness.”

Otherwise, she says, Europe won’t be able to attract international investment.

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Jim Sinclair’s Commentary

An area which should be of our interest. Funny, not a word about this on Financial TV.

America’s Nuclear Safety Under Scrutiny after Oyster Creek’s Sandy Alert
US nuclear regulators model risk from seismic activity or flooding based on past history. That’s leaving way too much to luck
by Richard Schiffman
Published on Friday, November 2, 2012 by The Guardian/UK

We know the bad news about superstorm Sandy: the Jersey shore was devastated and many towns remain waterlogged. New York suffered a direct hit, with the city’s mass transit system flooded and part-paralyzed for days to come.

Oyster Creek nuclear power station was offline on Monday for maintenance, but officials said Sandy’s storm surge came within 6in of damaging its cooling system. (Photograph: PR)

But there is good news, too, and that is all that it failed to do. Sandy did not kill hundreds – as Hurricane Katrina did in New Orleans in 2005 – thanks, in part, to timely evacuations and rescue efforts. And luckily, it did not trigger an even greater disaster at one of the region’s nuclear power plants. But it could have.

Watchdog groups like the Union of Concerned Scientists (UCS) warn that America’s nuclear facilities remain vulnerable to a variety of potential catastrophic events, both natural and resulting from deliberate sabotage or cyber-attack. And they say that federal regulations are currently inadequate to deal with all of these possible disaster scenarios.

I reported on one such danger, solar flares, last May in the New York Daily News. A 2011 study by the Oak Ridge National Laboratory warns that a massive solar storm could knock out electricity in some areas for weeks, overwhelming the capacity of many nuclear plants to keep their critical cooling systems operational.

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