The Real World News and Commentary – August 31, 2012

Connecting the Dots in the Real World –

What the Mainstream Media Did Not Show You Today

Created by Roy Perlmutter   August 31 2012


Prosecutors investigating the movement of money by global banks suspect HSBC of laundering money for Mexican drug cartels and moving cash for Saudi Arabian banks with ties to terrorists, according to federal authorities with direct knowledge of the investigations.


Share wars: how the robots are robbing you


The purpose of market intervention

Interventions in markets by governments and central banks are routine and we take them for granted. No one questions them, but they can create dangerous distortions. Their reason for intervening is to take price determination away from markets and consumers.




At Summit Meeting, Iran Has a Message for the World


Wells Fargo fires Des Moines worker for laundromat incident 49 years ago


there is mounting evidence that a false market is operating in our appreciation of consumer debt, state borrowing and the viability of pensions and healthcare. A baleful gap has opened up between what voters think is happening and what’s really going on.


Chart Of The Day: For Spain, The Real Pain May Be Just Beginning


Run on Vietnam’s biggest bank highlights threat to economy

The deliveries of truck loads of money and queues outside branches of Vietnam’s biggest lender, Asia Commercial Bank, ready to withdraw their cash almost as quickly as stocks were replenished were an eloquent expression of the fears stalking the county’s banking system.


Brezhnev Bonds Haunt Putin as Investors Hunt $785 Billion


It’s A Small World


Kissinger: Obama Will Create A New World Order


Remember, home prices are where they were 10 years ago.  You know what the average 30-year mortgage rate was 10 years ago today?  It was 6.32% for a 30-year loan. … It is a little less that twice where they are right now.  What do you suppose would happen to that “bottom” in home prices if the Fed stopped or could no longer suppress mortgage interest rates?  I would say the price declines would look like a cliff dive into a glass of water.


Eric Sprott: I suspect the G6 central banks have a hand in subverting the gold price because as the canary in the coal mine, high gold prices might tip everyone off to the severity of the ongoing financial crisis. I don’t think anyone can doubt that we’re in the middle of a financial crisis, primarily in the banking system, when month after month one program after another is rolled out to save somebody, whether it’s Long-Term Refinancing Operations (LTROs), quantitative easings (QEs), bank bailouts in Spain or rollovers of debt in Greece.


Quotations for Today from Past U.S. Presidents