Salbuchi – “WE, THE PEOPLE…” – THE INSURGENCY!!

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Part 2:

Chinese official urges buying of gold, U.S. land: report

A top Communist Party research chief said Thursday that China should buy gold and U.S. real estate rather than Treasurys, according to a Reuters report.

Li Lianzhong, who is head of economics at the party’s policy research office, said the U.S. dollar is poised for a fall, making gold and land better investments for China’s $1.95 trillion in foreign exchange reserves, the report said…

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1 in 8 U.S. homeowners late paying or in foreclosure

One out of eight U.S. households with a mortgage ended the first quarter late on loan payments or in the foreclosure process, in a crisis that will persist for at least another year until unemployment peaks, the Mortgage Bankers Association said on Thursday.

U.S. unemployment in April reached its highest rate in more than a quarter century and is still rising, helping propel mortgage delinquencies and foreclosures to record highs…

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GM and Chrysler are Closing Dealerships, But How Does it Affect You?

GM and Chrysler are going to close dealerships. The U.S. government says they have to do this to become viable companies. But how do these two automakers decide which dealerships they’ll close? And how does a dealership closing affect you, the consumer?

Consumers may think that because Chrysler is in bankruptcy court, there will be a huge liquidation sale on the vehicles so they can get rid of the inventory before they close the dealerships. Unfortunately for bargain hunters, this is not what goes on in Chapter 11 bankruptcy, or reorganization bankruptcy. Chapter 11 bankruptcy allows the debtor (ie: Chrysler) to restructure its debt in court…

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Change? Don’t you believe it!

Click here to listen to the mp3: Change? Don’t you believe it!

Well, what I had expected to happen has come to pass. If I could predict the outcome of sporting events, or pick lottery numbers with this level of accuracy I’d be rich!

I’m speaking, of course, of the vast amount of material that is being written for these Nationalist Matters broadcasts without me even having to lift a finger. I thought that I’d have a couple of news items to share with you this month. Instead, I have five different topics to cover, and none of them were even on the radar at the time that the broadcast was assembled last month! Well, OK, maybe one of them was on my mind previously, but that’s it.

Take, for example, the article published in the “Financial Times” on March 12th with the headline of “WalMart Looks to Hispanic Market”. Sure, WalMart marketing themselves to the brown hoard is hardly newsworthy in itself. Hell, every time I used to go into a WalMart I was inundated with the stench of Mestizo madness!

However, that’s not what this article is talking about. No, this time WalMart has gone above and beyond the call of stupidity! I quote to you from the article:

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The Road to Hell is Paved with Bailout Money

The road to Hell, they say, is paved with good intentions. Call me naive, but I like to think that Barack Obama had the best of intentions when he signed off on his recent bailout (“Economic Stimulus”) package.

For years, long before the good times even peaked a couple of years ago, I have predicted:

1. The now-in-progress crash of the housing market, which I insist will bottom out at about 10% of the peak values of 2006, just as it did in Depression I.

2. The now-in-progress crash of the stock market, which I estimate will see the underside of a 2,000 Dow before it begins to trade sideways in earnest.

3. Depression II, which already has begun, but which will not be acknowledged officially for a year or two.

4. World War III, which also already has begun, but which will not be acknowledged officially until the first nuclear weapon is exploded, causing an unprecedented ramp-up in hostilities.

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Dmitry Orlov: “America will collapse”

Retailers’ troubles ripple across the nation

In the world of shopping centers, strip malls and the cities that house them, a closed Ann Taylor here or an out-of-business Circuit City there might not matter much.

But the timing and immensity of the current downturn in retail is dire, and not just for the employees who lose jobs, the company shareholders and the shoppers who no longer can buy from their favorite stores. Cities — entire regions, even — that boomed as Americans shopped till they almost dropped for more than a decade are struggling mightily because spending has almost slammed to a stop.

The resulting store closures (150,000 are expected this year), steep declines in sales taxes collected by cities and states and the plethora of empty buildings are wreaking havoc on budgets, wrecking town center plans and ruining dreams for revitalization.

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‘ Worst economic collapse ever’

U.S. Congresswoman Supports Mortgage Squatting

Merrill Lynch says rich turning to gold bars for safety

Merrill Lynch has revealed that some of its richest clients are so alarmed by the state of the financial system and signs of political instability around the world that they are now insisting on the purchase of gold bars, shunning derivatives or “paper” proxies.

Gary Dugan, the chief investment officer for the US bank, said there has been a remarkable change in sentiment. “People are genuinely worried about what the world is going to look like in 2009. It is amazing how many clients want physical gold, not ETFs,” he said, referring to exchange trade funds listed in London, New York, and other bourses.

“They are so worried they want a portable asset in their house. I never thought I would be getting calls from clients saying they want a box of krugerrands,” he said.

Merrill predicted that gold would soon blast through its all time-high of $1,030 an ounce, and would hit $1,150 by June.

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Gold Market Update

The way things look it will soon be impossible – or very difficult and expensive – to obtain physical gold and silver. The first major wave of physical buying has bought up all of the coins and small bar gold and silver available on the market, with the result that if you want any, you must pay a large premium. Right now, the second wave is underway, with astute investors forcing the Comex to deliver, which is having the effect of drawing down their warehouse stocks at a rapid rate.

As the Comex is massively leveraged and trades hundreds of times more gold and silver than it has in its possession, it is clear that immediately their warehouse stocks are completely depleted, there will be a mad scramble to buy physical gold and silver in order to meet contract obligations.

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Milwaukee neighborhoods could print own money

They may be talking funny money, but it’s not funny business.

Residents from the Milwaukee neighborhoods of Riverwest and East Side are scheduled to meet Wednesday to discuss printing their own money. The idea is that the local cash could be used at neighborhood stores and businesses, thus encouraging local spending. The result, supporters hope, would be a bustling local economy, even as the rest of the nation deals with a recession.

“You have all these people who have local currency, and they’re going to spend it at local stores,” said Sura Faraj, a community organizer who is helping spearhead the plan. “They can’t spend it at the Wal-Mart or the Home Depot, but they can spend it at their local hardware store or their local grocery store.”

Incentives could be used to entice consumers into using the new money. For example, perhaps they could trade $100 U.S. for $110 local, essentially netting them a 10 percent discount at participating stores.

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Obama Vs. Constitution

Stefan Molyneux on the illusion of freedom

Financial Disaster Will Lead to Civil Disorder in 2009 or 2010, Says Secret Citibank Memo

An internal memo from a top Citibank analyst reveals what the banks really think about the global financial situation, and the outlook is grim.

“The world is not going back to normal after the magnitude of what they have done. When the dust settles this will either work, and the money they have pushed into the system will feed through into an inflation shock,” wrote Tom Fitzpatrick, Citibank’s chief technical strategist.

He goes on to explain that the massive money creation efforts by the Federal Reserve and other central banks will end with one of two things: A resurgence of inflation, or a fall into “depression, civil disorder and possibly wars.” Either outcome, he says, will cause the price of gold to skyrocket. Gold will push to well over $2,000 per ounce, he explains.

The timing on all this? Sometime in either 2009 or 2010, said the analyst.

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Cheap Shot on a Senior Citizen

Circuit City Files for Chapter 11 Bankruptcy

Hurt by competition from Best Buy Co. and Wal-Mart Stores Inc. and by pressure from the downturn in the economy that led shoppers to cut back on discretionary purchases, the 59-year old Circuit City Stores Inc. on Monday filed for Chapter 11 bankruptcy protection.

The Richmond, Va.-based consumer-electronics retailer, which has seen its shares tumbling 99% from a 52-week high of $8.24, negotiated a commitment for a $1.1 billion debtor-in-possession revolving credit line that will allow it to pay vendors and operate business as usual. The credit line replaced its $1.3 billion asset-based credit line provided by the same lenders. Circuit City said in the filing, made through the United States Bankruptcy Court for the Eastern District of Virginia, that it plans to emerge from the bankruptcy protection in the first half of 2009.

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Postal Service Looks To Cut 40,000 Jobs In First Layoff In History

“We lost 2 billion dollars and like any other business we have to stay afloat.” And to keep from sinking, the United States Postal Service is considering cutting thousands of jobs nationwide. Lavelle Pepper with the post office in Shreveport says they too are feeling the affects of the same disease hitting the country… a struggling economy. “We employ about 685,000 people. If we do layoffs it would include clerks, carriers, mail handlers across all crafts.”

Pepper says the postal service is looking to eliminate 40,000 jobs nationwide. There’s not an exact number on how many of those could be from the Ark-La-Tex. Pepper says workers who are not part of union with six or less years of service would likely be the first on the chopping block. “We’ve identified 16 thousand people that are not covered under contract. We’ll see what those numbers add up to.”

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Why should gold stop at $1,500?

Euphoria over bank bailouts and the temporarily buoyant stock markets is masking a sober reality.

The piper still has to be paid.

One fairly sanguine estimate of the cost of salvaging Wall Street came Tuesday morning from analysts at Merrill Lynch. They figure the inflationary effect of all the bank bailout measures now underway will push gold to $1,500 an ounce and oil back to $150 a barrel.

The analysts don’t offer a timeline, but the way markets have been jumping around lately it could be any day now.

Perhaps the real question is: why stop at $1,500?

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