Jim Rogers: “This Is Too Insane – And I’m Afraid We’re All Going To Suffer For The Rest Of This Decade From This Crazy, Crazy Money Printing”

Jim Rogers: “This Is Too Insane–And I’m Afraid We’re All Going To Suffer For The Rest Of This Decade” (Bull Market Thinking, June 26, 2013):

I was able to reconnect with Jim Rogers this morning out of Spain, legendary co-founder of the Quantum Fund with George Soros, author of Hot Commodities, and chairman of the private Beeland Holdings.

It was an especially powerful interview, as Jim spoke towards the relentless downward pressure on gold, the upward explosion in interest rates, central bank money printing, and how to protect yourself ahead of the disastrous times he sees coming.

When asked if we’re seeing forced liquidation leading the smash down in gold this morning, Jim said, “We certainly are. There are a lot of leveraged players who are now being forced to sell. Usually when you have this kind of forced liquidation, you’re getting closer to a bottom, maybe not the final bottom, but certainly close to a bottom. I even bought a little bit [today].”

With regard to the intense bearish news stories being published on gold, Jim suggested investors shouldn’t ”Pay [much] attention to other people. I pay attention to what’s going on…Obviously with gold collapsing I know about that—but I don’t listen to other people.”

Read moreJim Rogers: “This Is Too Insane – And I’m Afraid We’re All Going To Suffer For The Rest Of This Decade From This Crazy, Crazy Money Printing”

U.S. Senate Passes Sweeping Immigration Bill

Senate passes sweeping immigration bill (CNN, June 28, 2013):

Washington — The U.S. Senate gave final approval Thursday to a roughly 1,200-page bill that promises to overhaul immigration laws for the first time since 1986, creating a path to citizenship for millions of undocumented residents while ratcheting up security along the Mexican border.

Senators passed the sweeping legislation — initially drafted by the four Democrats and four Republicans in the chamber’s so-called “Gang of Eight” — by a 68-32 vote.

Fourteen Republicans joined a united Democratic caucus in supporting the bill, which is backed by the White House and has the potential to become the crowning legislative achievement of President Barack Obama’s second term.

In a White House statement, Obama hailed the Senate vote as “a critical step” toward fixing what he called a broken immigration system. He labeled the measure that now goes to the Republican-controlled House a compromise, adding that “we just need Congress to finish the job.”

Read moreU.S. Senate Passes Sweeping Immigration Bill

U.S. Student Loan Rates Set To Double On July 1

Related info:

Fed Shocked To Find Student Loans Used For Anything But To Learn

U.S. Student Loan Delinquency Rate Hits New Record High

The US Student Loan Bubble Broken Down By State, And Why Washington D.C. Sticks Out Like A Sore Thumb

Presenting The College Whose Graduates Have A 62% Student Loan Default Rate

Student Loan Bubble Forces Yale And Pennsylvania University To Sue Their Own Students



The interest rate on new Stafford loans is going to jump from 3.4 percent to 6.8 percent Monday.

Student Loan Rates Set To Double On July 1 (NPR, June 28, 2013):

The interest rate on government-backed student loans is going to jump from 3.4 percent to 6.8 percent Monday.

Republicans, Democrats and the Obama administration could not agree on a plan to keep it from happening. Lawmakers say a deal is still possible after the July 4 recess. But if they don’t agree on a plan soon, 7 million students expected to take out new Stafford loans could be stuck with a much bigger bill when they start paying the money back.

Read moreU.S. Student Loan Rates Set To Double On July 1

Fed: Foreign Central Banks’ Selling U.S. Government Debt


Humor: Government Bonds

Foreign central banks’ U.S. debt holdings fall: Fed (Reuters, June 27, 2013):

Foreign central banks’ overall holdings of U.S. marketable securities at the Federal Reserve fell in the latest week, data from the U.S. central bank showed on Thursday.

The Fed said its holdings of U.S. securities kept for overseas central banks fell $29 billion in the week ended June 26, to stand at $3.3 trillion.

Read moreFed: Foreign Central Banks’ Selling U.S. Government Debt

Presenting Inflation …

Presenting Inflation… (ZeroHedge, June 29, 2013):

In the last two years, according to Intuit, Americans are reaching deeper into their pockets to cover family-related expenses. Given the current concerns over dis-inflationary pressures, we thought the following infographic might highlight just where that hidden liquidity-/credit-fueled inflation is leaking out.


Chart: Mint.com / Intuit

EU: Investors To Pay For Bank Failures

h/t by reader M.G.:

“Just saw this story on Rt.com. The new plan is for investors to rescue the crumbling banks. Brilliant. What a way to get people to stop using banks! It is beyond stupid, it is outright stealing. Here is the link. I am too angry to say any more right now. Damn these thieving bastards!”



Eurogroup President and Dutch Finance Minister Jeroen Dijsselbloem talks to journalists during a joint news conference with Portuguese Finance Minister Vitor Gaspar in Lisbon May 27, 2013.(Reuters)

Investors to pay for bank failures – EU (RT, June 27, 2013):

European Union finance chiefs agreed Thursday investors and wealthy depositors will foot the bill for bank bailouts, in a break with the past convention of burdening taxpayers.

If pursued, bailout strategy, shareholders, bondholders and depositors with more than 100,000 euro will share the financial strain of saving a bank. Deposits under 100,000 will be protected.

Read moreEU: Investors To Pay For Bank Failures

How Many Calories Does A Dollar Buy? Here Are The Highest-Calorie Items From 10 Fast-Food Chains

How Many Calories Does A Dollar Buy? (ZeroHedge, June 29, 2013):

Whether you like it or not, America, the number of calories packed into fast-food eats are getting harder to ignore. McDonald’s, Subway and Panera Bread – and as of this week, Starbucks – have already begun voluntarily posting calorie counts on their menus, ahead of an anticipated federal mandate requiring all restaurants with more than 20 locations to do so. In the interest of openness and transparency, and as Marketwatch notes, assuming for a moment that you’re less worried about your waistline than about getting the most calories for the least amount of money, here are the highest-calorie menu items at 10 of the nation’s top fast-food restaurants offers the most bang for your buck.

Via MarketWatch,

#10 Panera Bread

* Steak and white cheddar on a French baguette, 980 calories

* $1 buys 112 calories

Panera has a lot of light, healthy-sounding items on its menus but the full steak and white cheddar on a French baguette isn’t among them, tallying 980 calories and 103 grams of carbs. That accounts for nearly half the USDA’s recommended daily intake of carbs. At $8.79, you’re getting a little more than one calorie per penny.

Read moreHow Many Calories Does A Dollar Buy? Here Are The Highest-Calorie Items From 10 Fast-Food Chains

Syria: The Art Of Standing On The Right Side Of History (Veterans Today)

Syria: The Art Of Standing On The Right Side of History (Veterans Today, June 27, 2013):

The ongoing Syrian crisis will be certainly viewed by future generations as a classic example of how a completely false reality, as presented by the dominant Western political class and corporate media, has inscrutably resulted in the moral and political reinforcement of the opposing party, which was desperately defending the principles of law and justice under unprecedented pressure from a transnational party of war.

Despite the undisguised skepticism voicedon the eve of the summit in Lough-Erne by some of the G8 leaders toward the Russian stance on the Syrian crisis, the talks turned to be a diplomatic victory of Putin. He stood firm in his position on Syria, while the Western leaders had to accept the obvious: there is no way to oust President Assad from his post by legal means.
The G8 summit in Lough-Erne failed to put political pressure on Bashar al-Assad for his alleged use of chemical weapons against the rebels, nor was it able to obtain Russia’s consent to additional UN Security Council actions in favor of the Syrian opposition.The tough Russian position on Syria is increasingly in step with the approaches of some sober-minded politicians in the West.
Zbignew Brzezinski, a well-known US political analyst and statesman of Polish descent, who can hardly be suspected of supporting Russian policies elsewhere, literally said in an interview with MSNBC right on the eve of the G8 summit:

The West is absolutely engaging in mass propaganda by portraying the Syrian conflict as a fight for democracy when many of the rebels want anything but. They pledge allegiance to Al-Qaeda, explicitly call for Sharia law, kill thousands of Christians, use terrorist tactics yet our corrupt media and political class pretend arming them will produce democracy.

It’s no wonder that Putin’s commitment to bringing all parties of the conflict to the negotiating table in Geneva without any preliminary conditions as well as his straightforward replies during a memorable press-conference with the British PM David Cameron, got a positive response from a wide spectrum of Western civil society.

Boris Johnson, a British Conservative and the incumbent major of London, specifically stated in an article for the Telegraph:

This is the moment for a total ceasefire, an end to the madness. It is time for the US, Russia, the EU, Turkey, Iran, Saudi and all the players to convene an intergovernmental conference to try to halt the carnage. We can’t use Syria as an arena for geopolitical point-scoring or muscle-flexing, and we won’t get a ceasefire by pressing weapons into the hands of maniacs.

His viewpoint is shared by a large number of British parliamentarians, both Conservatives and Labourites, who urge Cameron not to initiate any arm deliveries to the Syrian opposition without approval from parliament.

Gerald Warner from the Scotsman wrote last Sunday that Putin is increasingly admired in the West for his firm attitude in defense of the principles of international law in general and on the Syrian issue in particular:

The new-found admiration for Putin is rooted in an appreciation of the contrast he presents to the politically correct wimps running the European Union and the United States. Last week’s G8 photographs said it all. The posturing “statesmen” who had been ordered by PR advisers to take off their ties in a pathetic effort to appear “relevant” – a bunch of dads dancing at the school disco – invited the mockery and contempt they duly received. Putin went along with the charade; but when it came to the substance – the demand for his endorsement of the Obama/Cameron/Hollande ambition to arm al-Qaeda in Syria – the response was an uncompromising, Molotov-style “Nyet!”

Read moreSyria: The Art Of Standing On The Right Side Of History (Veterans Today)