In The News Today

Posted at 12:19 AM (CST) by & filed under In The News.

Dear CIGAs,

All emails were caught up and answered at 8pm EST.

If you did not receive an answer please send me your email again.

 

Jim Sinclair’s Commentary

The most substantial development hides in Weed.

The national egg is slowly cracking, a heads up, from David Madisonstyle.

Remember the Russian economist that predicted the USA would break down into various United States versus the US Central Government? How could that happen? Well, here are the seeds planted for the conflict called nullification.

If the central government passes a law that exceeds its ceiling of power as described in the Constitution, the individual states have a right to refuse to obey it. Claiming rights today is a very dangerous act. Claim the right of Warrant and see what happens to you when the local or federal swat guys come through the door. By the way they are trained that the first thing they shoot are your dogs.

What many have feared for so long is developing right in front of your eyes.

BIG VICTORIES UNDER THE RADAR TUESDAY NIGHT
by Jon Rappoport
November 8, 2012

www.nomorefakenews.com

Okay, so we saw Obama and Romney go head to head and grab the headlines Tuesday night. Clown puppet A beat clown puppet B. The real winner was big federal government, and that was a foregone conclusion before a single vote had been cast or rigged.

Big gov was going to come out on top either way. We knew that.

But at the state level, six things happened that are cause for celebration. Six states told the federal government to take a long walk on a short pier. They passed ballot measures which directly contradict federal law and, in three cases, the US Supreme Court.

The egg is slowly cracking.

It’s called Nullification. If the central government passes a law that exceeds its ceiling of power as described in the Constitution, the individual states have a right to refuse to obey it.

More…

 

Ron Paul: Election shows U.S. ‘far gone’
By Stephen Dinan – The Washington Times
November 8, 2012, 11:56AM

Rep. Ron Paul, whose maverick presidential bids shook the GOP, said in the wake of this week’s elections that the country has already veered over the fiscal cliff and he sees no chance of righting ship in a country where too many people are dependent on government.

"We’re so far gone. We’re over the cliff," the Texas Republican told Bloomberg Television’s "In the Loop" program. "We cannot get enough people in Congress in the next 5-10 years who will do wise things." The video can be seen at http://www.bloomberg.com/video/ron-paul-on-fiscal-cliff-and-vows-to-compromise-MYkAiqYBTaiHwXZL9Tvxkw.html.

More…

Jim Sinclair’s Commentary

Currency induced cost push inflation, which is a form of hyperinflation, will like Hurricane Sandy cause dislocations in the delivery system of goods and products. This is why shortages can occur economically in inflationary experiences that few understand.

Study economic history or be prepared to relive it.

New York Mayor Bloomberg imposes post-Sandy fuel ration
8 November 2012 Last updated at 16:34 ET

New York Mayor Michael Bloomberg has ordered number plate-based petrol rationing, 10 days after Storm Sandy ravaged the city.

Fuel shortages since the storm hit have led to hours-long waiting times at pumps, and traffic chaos for commuters struggling to get to work.

Similar measures were introduced in New Jersey on Saturday and will also be enforced in New York’s Long Island.

Only 25% of the city’s petrol stations are operating, Mr Bloomberg added.

Under the rationing system, cars with licence plates ending in odd numbers will be allowed to buy fuel only on odd-numbered days of the month; cars with even numbers at the end of their licence plates will be allowed to buy petrol on even-numbered days.

The rule will come into effect at 06:00 EDT (11:00 GMT) on Friday, the mayor announced.

New York City’s yellow taxis and emergency vehicles are exempt from the rationing rules.

More…

Jim Sinclair’s Commentary

Unprovoked. International air space. Unarmed. Sounds to me like standard MSM.

What do you think the USA would do to a similar drone 100 miles off of Washington DC in international airspace?

Iran fired at unarmed US drone, Pentagon says
Published November 08, 2012

Iran fired on an unarmed U.S. drone last week as it was hovering in international airspace, the Pentagon announced Thursday.

Spokesman George Little said the incident, which marks the first time the Iranians have fired on a U.S. drone, occurred Nov. 1 at 4:50 a.m. ET. He said the unarmed, unmanned drone was conducting "routine surveillance" over the Persian Gulf when it was "intercepted" by Iran. He said the MQ1 Predator drone, which was not hit, was not in Iranian airspace.

According to Little, two Iranian jets fired twice, missing on both attempts — the drone headed away from the Iranian coast, landing safely soon after at an undisclosed location. The Iranian jets pursued the drone for a short period before giving up.

Little said the U.S. government has protested to the Iranians. Asked about how the U.S. could respond, he said: "We have a wide range of options from diplomatic to military."

He would not say whether there were actually plans for a military response. Asked if this should be considered an act of war, Little said he didn’t want to get into "legal characterizations" of the event.

Little stressed that the drone was flying 16 nautical miles off the coast of Kuwait in international waters, and never entered the 12-mile limit that would constitute Iranian territory.

More…

Jim Sinclair’s Commentary

The Pensioner, the Bankster’s worst act.

The most endangered species on the planet is on two legs and called a pensioner. Now if we just let them all croak soon some feel that our economic problems might benefit.

Don’t get a bunch of gezers angry. They have nothing now to lose as they are going to lose it all.

This does not apply to you? I was 19 and making 35 OTC markets in what seems were a few moments ago. Age creeps up on you, and when you see it flies like the wind.

Who speaks for these people? Who is their advocate? Nobody! Therefore will they be abandoned by the bankster run society as a curtailment of entitlement by forced attrition?

5 Trillion Price Tag for Public Pensions
By Philip Moeller | U.S.News & World Report LP

As strapped state and local governments scramble for ways to balance their budgets, it’s become very clear that it will be impossible for many to honor their pension promises to new employees and even current retirees. According to a recent economic study, the cost to fully fund these promises would cost taxpayers $5 trillion over a 30-year period, or nearly $1,400 a year in higher state and local taxes and fees for every household in the country.

Put another way, contributions to pay for public employees’ retirement benefits now total 5.7 percent a year of all state and local taxes, fees, and other government charges. "Government contributions to state and local pension systems must rise to 14.1 percent" to produce fully funded pension systems, the study said, and it will take 30 years to get there.

The magnitude of this challenge can be debated and, indeed, hinges on the future investment performance of retirement funds that can’t be known today. Economists Robert Novy-Marx (University of Rochester) and Joshua D. Rauh (Stanford) based their price tag on a snapshot of the condition of state and local pensions in 2010. They then assumed economic growth in the states would average what it has been like over the past 10 years, assuming the continuation of present retirement rules. Finally, they factored in reasonable future investment gains in government retirement funds. Their $5 trillion answer is what it would take for governments to honor their retirement commitments and develop a system that was fully funded over the next 30 years.

They also studied other possible outcomes, including different combinations of the kinds of pension cutbacks that are already being tried in some states. The results were not encouraging for taxpayers. For example, in what they say has come to be known as a "soft freeze," some states are moving new employees out of guaranteed, defined-benefit pensions and into defined-contribution plans similar to private-sector 401(k) accounts. If all new state and local government employees were forced to use such defined-contribution plans, the study found, average household taxes would still rise by more than $1,200 a year.

Adopting a much harsher "hard freeze" policy would stop all future benefit increases. No benefits would be revoked, but they would not grow over time to reflect an employee’s rising salary or added years of service. Having frozen future pension liabilities, their study assumes states and localities would add a new defined-contribution plan and would need to make employer contributions into that plan. This approach would reduce annual taxpayer increases to $800–a figure still above what many taxpayers would tolerate.

More…

 

clip_image002

 

Jim Sinclair’s Commentary

Compliments of John Williams, someone who deserves your subscription.

– September Trade Data Suggest Upside Pressure on GDP Revision
– Hurricane Sandy May Have Disrupted Flow of Trade Data
– No Meaningful Shift in Control of U.S. Government, As Budget-Deficit and Debt-Limit Woes Come to the Fore

www.ShadowStats.com