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HERE IT COMES: BERNANKE: FISCAL CLIFF ‘SUBSTANTIAL THREAT’ TO ECONOMY

Federal Reserve Chairman Ben Bernanke said on Tuesday that U.S. politicians must come to a timely agreement on the budget in order to ensure the economic recovery is not derailed. The powerful central bank chief said the U.S. economy could have a strong 2013 if politicians can quickly come to a deal to avert the so-called fiscal cliff, adding that the Fed's latest stimulus should continue to provide support ...

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Sacrificing The Will Of The People On The Altar of The Euro

Source: Wolf Richter, Testosterone Pit.com The Eurozone debt crisis is exacting its toll. Convoluted undemocratic taxpayer-funded bailouts of bondholders and banks designed to keep the Eurozone together can’t kick the can down the road far enough. But the price has been huge, and people have expressed their anger in massive protests. Now, these efforts are also tearing up the fabric of the 27-member Europea ...

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Europe at the Crossroads

Following the Arab Spring of 2011, the European Autumn of 2012 is creating conditions for the development of a movement. Workers, pensioners, students and the unemployed marched all over Europe en masse on November 14 during a demonstration against the austerity measures [EPA] "There is a remedy which, if it were generally and spontaneously adopted by the great majority of people in many lands, would as if ...

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‘Shadow Banking’ Still Thrives, System Hits $67 Trillion

The system of so-called "shadow banking," blamed by some for aggravating the global financial crisis, grew to a new high of $67 trillion globally last year, a top regulatory group said, calling for tighter control of the sector. A report by the Financial Stability Board (FSB) on Sunday appeared to confirm fears among policymakers that shadow banking is set to thrive, beyond the reach of a regulatory net tig ...

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Alien Invasion Theorist Krugman Says Bring Back The 91% Tax Rate

By PAUL KRUGMAN The Twinkie, it turns out, was introduced way back in 1930. In our memories, however, the iconic snack will forever be identified with the 1950s, when Hostess popularized the brand by sponsoring “The Howdy Doody Show.” And the demise of Hostess has unleashed a wave of baby boomer nostalgia for a seemingly more innocent time. Needless to say, it wasn’t really innocent. But the ’50s — the Twin ...

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EU in Fresh Trouble as Budget Summit Faces Collapse

European Union Council president Herman Van Rompuy delivers a speech in Vienna on November 16. The European Union looks set for fresh trouble this week as an extraordinary summit called to agree a long-term trillion-euro budget heads for an ugly showdown, possibly even failure. British Prime Minister David Cameron speaks at 10 Downing Street in central London on November 1. Europe's leaders begin the talks ...

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Shadow Banking System Larger than at the Start of the Financial Crisis

One of the Main Indicators of Financial Danger Has Increased The failure to regulate the shadow banking system was one of the causes of the financial crisis. As we noted in 2009, the Bank for International Settlements – often described as a central bank for central banks (BIS)  – slammed the Federal Reserve for failing to rein in the shadow banking system: How could such a huge shadow banking system emerge ...

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CNBC Admits that We Are the Slaves of the Banksters

Listen to what the guests are saying about central banks versus the free market and gold—and there is not a Jim Rogers, Mark Faber, Peter Schiff, nor Lew Rockwell in sight. (Unfortunately, you know that when the MSM starts blatantly admitting this, the New World Order/One World Government is already here.) SOURCE ...

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Euro Gold Record Over 1,400 EUR/oz By Year End

The yellow metal soared 4.9% in euros in one week from the 11 week low set November 2nd and has since fallen 1.3%.  The rebound from the November dip means prices should recover to reach the all-time euro high set last month, before rising to the point-and-figure target at 1,395 euros, said the bank’s research.  Point and figure charts estimate trends in prices without showing time. Gold may then reach a Fi ...

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‘Shadow Banking’ Still Thrives, System Hits $67 Trillion

The system of so-called "shadow banking," blamed by some for aggravating the global financial crisis, grew to a new high of $67 trillion globally last year, a top regulatory group said, calling for tighter control of the sector. A report by the Financial Stability Board (FSB) on Sunday appeared to confirm fears among policymakers that shadow banking is set to thrive, beyond the reach of a regulatory net tig ...

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