Jay's Daily News

I also believe in leprechauns.

AIG Less Reliant on U.S., on Path to Repaying Bailout, CEO Says.

http://www.bloomberg.com/apps/news?p...uW0eHus&pos=11

Peso Ascends With Loonie as Funds Favor Nafta Region

http://www.bloomberg.com/apps/news?p...STr_fi_Y&pos=2

Quite a ballsy statement coming from a guy who sold half the gold assets of his country at the bottom of the market (run a google search for Brown's bottom if you don't know what I'm on about).

British Prime Minister Gordon Brown, sliding in opinion polls as he prepares to call a general election, said a victory by the opposition Conservatives would risk tipping the economy back into recession.

http://www.bloomberg.com/apps/news?p...SQUOSYbc&pos=9

BOJ May Keep Policy Unchanged, Raise View of Economy

http://www.bloomberg.com/apps/news?p...HKuNPiBc&pos=6

Los Angeles to Run Out of Cash in a Month, City Controller Says

http://www.bloomberg.com/apps/news?p...mSbN5qLY&pos=9

Your tax dollar at work! What a country!

CEOs of bailed-out regional banks get raises

http://www.reuters.com/article/idUST...rpc=23&sp=true

Jobless rate may rise as many are drawn back to labor force

http://www.washingtonpost.com/wp-dyn...040402964.html

Maybe the contras and Oliver North will be on the back.

Reagan On The $50 Bill? Ohioans Say Not So Fast

http://abcnews.go.com/Politics/ohio-...ry?id=10288654

Two news sites, two home pages...same time and date...

17:20 GMT Monday 5/4/10

The Latest Gold Fraud Bombshell: Canada's Only Bullion Bank Gold Vault Is Practically Empty

by Tyler Durden
04/07/2010 10:30 -0500


Continuing on the trail of exposing what is rapidly becoming one of the largest frauds in commodity markets history is the most recent interview by Eric King with GATA's Adrian Douglas, Harvey Orgen (who recently testified before the CFTC hearing) and his son, Lenny, in which the two discuss their visit to the only bullion bank vault in Canada, that of ScotiaMocatta, located at 40 King Street West in Toronto, and find the vault is practically empty. This is a relevant segue to a class action lawsuit filed against Morgan Stanley, which was settled out of court, in which it was alleged that Morgan Stanley told clients it was selling them precious metals that they would own in full and that the company would store, yet even despite charging storage fees was not in actual possession of the bullion. It appears that this kind of lack of physical holdings by all who claim to have gold in storage, is pervasive as the actual gold globally is held primarily in paper or electronic form. Lenny Organ who was the person to enter the vault of ScotiaMocatta, says "What shocked me was how little gold and silver they actually had." Lenny describes exactly how much (or little as the case may be) silver was available - roughly 60,000 ounces. As for gold - 210 400 oz bars, 4,000 maples, 500 eagles, 10 kilo bars, 10 one kilogram pieces of gold nugget form, which Adrian Douglas calculates as being $100 million worth, which is just one tenth of what the Royal Mint of Canada sold in 2008, or over $1 billion worth of gold. As Orgen concludes: "The game ends when the people who own all these paper obligations say enough and take physical delivery, and that's when the mess will occur."

Also note the interesting detour into what Stephan Spicer of the Central Fund Of Canada, said regarding his friend at a major bank, who wanted access to his 15,000 oz of silver, and had to wait 6-8 weeks for its to be flown in from Hong Kong.

It is funny that central bankers thought they could take the ponzi mentality of infinite dilution of all assets coupled with infinite debt issuance, as they have done to fiat money, and apply it to gold, in essence piling leverage upon leverage. They underestimated gold holders' willingness to be diluted into perpetuity - when the realization that gold owned is just 1% of what is physically deliverable, you will see the biggest bank run in history.

Link to full Eric King interview.

It certainly goes to show how priorities differ.

I don't understand why people are so upset at Tiger and his little putter. What he does off the green is nobody's business but his and his wife's.

very interesting article by chris martenson

http://www.zerohedge.com/article/gre...chris-martenso

The Greatest Shell Game Ever Continues As The Whole World Is Now Insolvent; Updated Thoughts From Chris Martenson On The Upcoming US Funding Crisis

Executive Summary

 

1. Record-breaking Treasury auctions continue to go off without a hitch, thanks to massive foreign participation.
2. However, the amounts reported to be bought in the auction results do not match the Custody Account or TIC report amounts.
3. The Fed is allegedly all done buying MBS and Treasury paper. This cuts off an important source of liquidity for the Treasury, commodity, and stock markets.
4. How will these markets respond to a liquidity drought?

...

Goldman Sachs denies 'betting against clients' http://www.guardian.co.uk/business/2...r-shareholders

Momentum Grows for Debt Repudiation http://www.zerohedge.com/article/mom...bt-repudiation

You know what that means? No chance for independent movies and more shitty Nicolas Cage flicks. Subprime goes Hollywood. http://motherjones.com/politics/2010...goes-hollywood

Right pundits interview Max Keiser. http://www.rightpundits.com/?p=6017

How changing lifestyles affect your finances

http://news.bbc.co.uk/2/hi/business/8609250.stm

Coming soon to American shores?

Petrol price hits record high

http://news.bbc.co.uk/2/hi/business/8609542.stm

Green light for Newport's new '£1bn community'

http://news.bbc.co.uk/2/hi/uk_news/w...st/8609984.stm

Yuan rise bad for China's economy, minister warns

http://news.bbc.co.uk/2/hi/business/8611506.stm