In The News Today

Posted at 3:08 PM (CST) by & filed under In The News.

Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked, ‘Account overdrawn.’
–Ayn Rand

 

Jim Sinclair’s Commentary

Here is an important change of events: riots took place in Germany today in economic protest to austerity.

 

Jim Sinclair’s Commentary

Today from John Williams’ www.ShadowStats.com.

– Annual Retail Sales Revised Lower by 0.43% in 2011 and 0.22% in 2012

"No. 529: Retail Sales Benchmark Revision"
Web-page: http://www.shadowstats.com

Asia curbs US imports of wheat after genetically modified sample found
Billions in food exports at stake following disclosure by US Department of Agriculture of the existence of the GM wheat
Suzanne Goldenberg, US environment correspondent

The discovery of rogue genetically modified wheat in a farmer’s field in Oregon shook global confidence in the safety of America’s food supply on Friday.

Billions in food exports were potentially at stake following the disclosure by the US Department of Agriculture of the existence of the GM wheat plants.

The GM variant, developed by the agricultural giant Monsanto, has never been approved for human consumption.

The discovery in Oregon, about a decade after field trials ended in that state, raised concerns among the main buyers of America’s wheat abroad, as well as an increasingly active GM movement at home.

The European Union advised member states on Friday to test some wheat shipments from the US. The EU imports more than 1.1m tonnes of wheat a year.

Asia was also shutting its doors to American wheat imports. South Korea, which last year imported half of its wheat from the US, cancelled imports, following Japan’s lead. Thailand puts its ports on alert. China and the Philippines said they were closely watching the USDA’s investigations into the GM escape.

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Jim Sinclair’s Commentary

Look at who are the most famous and admired people in America now by MSM then consider these heroes.

A final toast for the Doolittle Raiders
By Bob Greene, CNN Contributor
updated 10:49 AM EDT, Sun April 14, 2013

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(CNN) — It’s the cup of brandy that no one wants to drink.

On Tuesday, in Fort Walton Beach, Florida, the surviving Doolittle Raiders will gather publicly for the last time.

They once were among the most universally admired and revered men in the United States. There were 80 of the Raiders in April 1942, when they carried out one of the most courageous and heart-stirring military operations in this nation’s history. The mere mention of their unit’s name, in those years, would bring tears to the eyes of grateful Americans.

Now only four survive.

After Japan’s sneak attack on Pearl Harbor, with the United States reeling and wounded, something dramatic was needed to turn the war effort around.

Even though there were no friendly airfields close enough to Japan for the United States to launch a retaliation, a daring plan was devised. Sixteen B-25s were modified so that they could take off from the deck of an aircraft carrier. This had never before been tried — sending such big, heavy bombers from a carrier.

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Jim Sinclair’s Commentary

QE to infinity in the entire Western world as Germany does a full 180 degree turn.

Austerity About-Face: German Government to Gamble on Stimulus
By Sven Böll and Christian Reiermann

With the euro crisis refusing to relent, the German government is backing away from its austerity mandates and planning to spend billions to stimulate ailing economies in Southern European. But can the program succeed?

Wolfgang Schäuble sounded almost like a new convert extolling the wonders of heaven as he raved about his latest conclusions on the subject of saving the euro. "We need more investment, and we need more programs," the German finance minister announced after a meeting with Vitor Gaspar, his Portuguese counterpart.

The role he was slipping into last Wednesday was new for Schäuble. The man who had persistently maintained his image as an austerity commissioner is suddenly a champion of growth. If Germany couldn’t manage to trigger an economic recovery, "our success story would not be complete," he said. And as if to convince even the die-hard skeptics, he added: "The German government is always prepared to help."

After three years of crisis policy, it was an impression shared by very few people in countries like Portugal, Spain and Greece. They are more likely to associate Schäuble and his boss, Chancellor Angela Merkel, with austerity mandates ushering in hardship, deprivation and unemployment.

But a new way of thinking has recently taken hold in the German capital. In light of record new unemployment figures among young people, even the intransigent Germans now realize that action is needed. "If we don’t act now, we risk losing an entire generation in Southern Europe," say people close to Schäuble.

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