Posts Tagged Money

Consumer Credit Misses As Revolving Credit Has Biggest Contraction Since April 2011

via: ZeroHedge
By: Tyler Durden
August 7, 2012

Tyler Durden's picture
Just like every other aspect of the global economy and capital markets, the sudden, rapid moves in every times series are becoming increasingly more pronounced: today’s case in point – consumer credit. Instead of rising by the expected $10.25 billion in June, following the whopper of a May bounce when it grew by $17 billion, in June, credit rose by only $6.46 billion. On the surface this was not a big miss and was the 10th consecutive increase in a row, driven exclusively by non-revolving credit – i.e. student and GM subprime loans. However, looking below the surface shows that following May’s biggest monthly surge in revolving credit since November 2007 (+$7.5 billion), consumers have again expressed a revulsion to credit, with revolving credit sliding by $3.7 billion: this was the biggest monthly contraction in revolving credit since April 2011, and before that since February 2009. Did Americans developed a sudden taste for credit funded consumption in May, only to puke it all up and then some in June? It sure appears that way based on recent retail sales numbers. The July retail sales number will simply confirm if the re-icing of US consumers has continued for another month.

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Gregory Mannarino – Important Updates-Markets, Gold, Silver, U.S. Dollar

via: GregVegas5909
August 7, 2012

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Audit the Fed Threatens the Secrecy of the Federal Reserve Bank

via: OccupyCorporatism
by: Susanne Posel
August 7, 2012

Senator Ron Paul, author of the legislation called Federal Reserve Transparency Act of 2012 (HR459) that will subject Ben Bernanke and the privately-owned Federal Reserve Bank to a monetary audit policy has seen much support from his peers on Capitol Hill. The House of Representatives passed 327 – 98 on a vote last week which exceeded the necessary 2/3rd majority.

Bernanke, trying to deter the US Congress from digging into the private matters of the Fed, told House lawmakers that this legislation would allow a “nightmare scenario” of political meddling in monetary policy making. How pretentious of this head of the global Elite banking cartel to say that American representatives would be fumbling idiots meandering about in the matters of private shareholders being forced to disclose their agendas regarding our money system.

Paul, who is pushing for “transparency” in America’s relationship with the Fed, said that Americans are “sick and tired of what happened in the bailout and where the wealthy got bailed out and the poor lost their jobs and they lost their homes.”

Back in March, Bernanke lectured at the George Washington University in a propaganda stunt to reaffirm to the younger generations that the Federal Reserve is necessary and integral to the US monetary future. Bernanke claimed that “a central bank is not an ordinary commercial bank, but a government agency.”

By fabricating the factual need of the Fed as a cornerstone of our currency system, Bernanke tried to coerce the public on the benefits of the Fed. Dennis Kucinich said that “it’s time that we stood up to the Federal Reserve that right now acts like some kind of high, exalted priesthood, unaccountable to democracy.”

Paul wants to show the American public that their hard-earned money is going into off-shore accounts to support the global central banking cartels and fund their agendas. The focus is on the 2007 – 2009 “recession” that has laid the groundwork for hyper-inflation in the near future.

Continue Reading At: OccupyCorporatism.com

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This Is Why Gold & Oil May Explode Higher In August

via: KingWorldNews
August 7, 2012

Today acclaimed commodity trader Dan Norcini told KWN, “One spark for gold may be at some point in August we begin to have rumors about what is going to happen at the Jackson Hole meeting.  The first round of QE was announced during that Jackson Hole Summit in late 2008.  So the upcoming meeting may wind up being very significant when it comes to which direction central planners are going to take.”

Dan Norcini continues:

“You may very well get a lift in gold based on the type of monetary response that may come out of Jackson Hole.  The other situation which could escalate and have a huge impact in the key markets, particularly crude oil and gold, is the disintegration that is taking place in Syria.

If the war begins to engulf a broader scope of the Middle-East, bringing Israel and Iran into conflict, that powder keg could create an explosion higher in the price of both crude oil and gold….

Continue Reading At: KingWorldNews.com

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Biderman’s Daily Edge 8/6/2012: Hope Springs Eternal & Boosts Global Stocks

via: TrimTabs
August 6, 2012

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