There’s a reason George Orwell’s 1984 is a predominant theme in my new book A Government of Wolves: The Emerging American Police State (available now on Amazon.com and in stores on June 25). It’s the same reason Orwell’s dystopian thriller about a futuristic surveillance society has skyrocketed to the top of book charts in the wake of recent revelations by former CIA employee and National Security Agency (NSA) contractor Edward Snowden that the nefarious spy agency is collecting the telephone records of millions of Verizon customers, with the complete blessing of the Obama administration.
In the 21st century the two hundred year-old propaganda that the American people control their government has been completely shattered. Both the Bush and Obama regimes have made it unmistakenly clear that the American people don’t even influence, much less control, the government. As far as Washington is concerned, the people are nothing but chaff in the wind.
Polls demonstrate that 65% of the US population opposes US intervention in Syria. Despite this clear indication of the people’s will, the Obama regime is ramping up a propaganda case for more arming of Washington’s mercenaries sent to overthrow the secular Syrian government and for a “no-fly zone” over Syria, which, if Libya is the example, means US or NATO aircraft attacking the Syrian army on the ground, thus serving as the air force of Washington’s imported mercenaries, euphemistically called “the Syrian rebels.”
There's a Warren Buffett quote that's something akin to: When the tide goes out, you can see who's been swimming naked.That's the theme of a note this morning from SocGen analyst Kit Juckes, who says that as rates are rising, and tapering talk picks up, it's beginning to be clear where the unsustainable bubbles have been built up.No surprise: He says the bubbles were found in emergingg markets, which have been crumbling lately.
It started off a simple protest in Sao Paulo as a demonstration by students against an increase in bus fares from R$3 to R$3.20, and then quickly morphed intogeneral demonstration of discontent with the nation’s political classes on both sides of the spectrum involving over 200,000 across the country, with those marching on Monday holding placards decrying everything from the enormous sums spent on the World Cup to the treatment by police of protesters last week. It got to the point where protesters invaded and occupied, peacefully, the roof of the national Congress complex in Brasilia. Then things turned less peaceful when a breakaway group from the main rally in Rio de Janeiro attacked the state legislative assembly building and attempted to set it on fire.
There has been increased volatility in gold bullion prices as investors run from precious metals. According to data compiled by Bloomberg, gold bullion’s 60-day historical volatility reached 28.9% on June 13. This was the highest level since December of 2011. Average volatility over the past five years for gold bullion prices has been around 20%. (Source: Bloomberg, June 14, 2013.)
As the volatility continues in gold bullion prices, the fundamentals remain strong. Actually, demand for gold coins is unprecedented right now.
Aside from individual investors buying gold bullion, central banks continue to diversify their reserves into gold bullion as fiat currencies fail to protect their wealth. In spite of the decline in gold bullion prices, as has been well documented in these pages, central banks form Russia, Turkey, and Kazakhstan continue to add precious metals to their reserves.
Bullish stock advisors are forgetting that we are standing on the cusp of a global economic slowdown—an event that bodes well for gold bullion. It may be difficult for my readers to envision right now, but with the recent exodus by investors out of U.S. bonds, once the stock market starts declining, there will be few other “stores of wealth” for investors to seek aside from gold.
By James Bamford
“God we trust,” goes an old National Security Agency joke. “All others we monitor.
Given the revelations last week about the NSA’s domestic spying activities, the saying seems more prophecy than humor.
First, the Guardian reported details on a domestic telephone dragnet in which Verizon was forced to give the NSA details about all domestic, and even local, telephone calls. Then the Guardian and the Washington Post revealed another massive NSA surveillance program, called Prism, that required the country’s major Internet companies to secretly pass along data including email, photos, videos, chat services, file transfers, stored data, log-ins and video conferencing.While the Obama administration and Senate intelligence committee members defend the spying as crucial in its fight against terrorism, this is only the latest chapter in nearly a century of pressure on telecommunications companies to secretly cooperate with NSA and its predecessors. But as stunning technology advances allow more and more personal information to pass across those links, the dangers of the United States turning into a secret surveillance state increase exponentially.
House Intelligence Chairman: NSA Surveillance Stopped “Dozens” of Attacks
The chairman of the House Intelligence Committee insisted that Americans will come to support National Security Agency surveillance once they fully understand its importance and how it has stopped “dozens” of attacks. Rep. Mike Rogers told CNN that “if you can see just the number of cases where we’ve actually stopped the plot, I think Americans will come to a different conclusion than all the misleading rhetoric I’ve heard over the last few weeks,” according to Politico.
NSA spying whistleblower Edward Snowden’s statements have been verified. Reporter Glenn Greenwald has promised numerous additional disclosures from Snowden.
What other revelations are coming?
A new article by investigative reporter Christopher Ketcham reveals, a governmental unit operating in secret and with no oversight whatsoever is gathering massive amounts of data on every American and running artificial intelligence software to predict each American’s behavior, including “what the target will do, where the target will go, who it will turn to for help”
In the blizzard of half-truths, dissembling, and prevarications about the nature of the National Security Administration’s surveillance programs, it’s easy to lose sight of the obvious. In this case, the obvious is about one million square feet in size.
Ongoing revelations by The Guardian and The Washington Post of massive, illegal secret state surveillance of the American people along with advanced plans for waging offensive cyberwarfare on a global scale, including inside the US, underscores what Antifascist Calling has reported throughout the five years of our existence: that democracy and democratic institutions in the United States are dead letters.
When Edward Snowden reached his breaking point, the world saw the truth about the vast extent of spying by the NSA on Americans and people around the world. In an act of conscience, Snowden released secret information, saying “My sole motive is to inform the public as to that which is done in their name and that which is done against them.”
Snowden sparked protest, lawsuits, criticism of the administration and US intelligence. His action shows the power that comes when someone inside the system break ranks and tells the truth. Successful movements depend on people breaking ranks: questioning, demurring, disobeying, defecting and withdrawing support. As Ken Butigan writes in Waging Nonviolence, the impact can start a metamorphosis for all of us:
In numerous TV shows and movies produced prior to September 2001, the numbers 9 and 11 were shown next to each other, often with the Twin Towers in the background.New examples of this are still being found, but perhaps the most famous case appeared in a 1997 episode of The Simpsons, called The City of New York vs. Homer Simpson.
by Daisy Luther
The Organic Prepper
With only a week remaining before we take off on our next adventure, I’ve been thinking about the lessons I learned here in the northern forests of Ontario. The biggest lesson I learned is that practical skills have to be practiced. When I moved here, I thought I was well-prepared and self sufficient. Spending a year here taught me how little I actually knew
The Federal Reserve meeting that concludes Wednesday is the most important event of the week. There are now few participants, if any, that expect the Fed to reduce its long-term asset purchases now or even next month. Many see the September as a more likely time frame and a recent poll found the median expectation for tapering to take place in October.
There are three aspects of the Fed's meeting that will garner attention. First is the statement itself. We suspect there will be little there to suggest change in QE. There are unlikely to be significant changes in the economic assessment. There may be some minor tweaks in the language. For example, the easing of price pressures may be noted in stronger terms that the last statement's recognition that inflation was "somewhat below" the FOMC's long-term objective.
The typical post-war boomer has lived with just one complete interest rate cycle. Rates hit a low after the war...as the US faced the biggest fiscal cliff in its history.
The biggest stimulus program of all time — the Second World War — had come to an end. Millions of soldiers and defence industry employees were out on the streets looking for a job. Most economists and investors thought they'd never find one.They thought the war had pulled the economy out of the Great Depression. Now that the war was over, they expected it would fall back into its depressed state.
Investors who own physical gold and the gold ETFs (GLD, PHYS, and CEF) may be interested in the continued drawdown of COMEX warehouse gold inventories that has been occurring over the last few months. We discussed this a bit in a previous article but what is interesting is that a month later, this drawdown is continuing without signs of letting up - even as the gold price has stabilized.
The second-biggest gold-storage vault opened by Deutsche bank in Singapore with 200-tonne storage capacity. The bank already operating financial distribution services for precious metals in Singapore.As we all know gold is a very precious metal and should be stored securely. Deutsche bank knew this fact and opened a gold-storage vault in Singapore which is second-biggest storage vault. The capacity of this storage vault is 200-tonne. Gold prices decreased and went down near a two-year low and about 17% down in this year, after a continuous annual gain of the previous 12 months.
There has been considerable throughput of gold in western capital markets, with substantial buying from all round the world following the April price crash. The supply can only have come from two sources: the general public, or one or more governments. It really is that simple. Two months later the gold price has only partially recovered, so physical supplies have continued to be made available. Physical demand cannot have been entirely satisfied by ETF liquidations, confirming governments are involved. This article looks at the dynamics of the gold market around this event and the implications.
WASHINGTON — Driver’s license photographs and biographic information of most Americans would be accessible through an expanded Department of Homeland Security nationwide computer network if the immigration legislation pending before the Senate becomes law.The proposed expansion is part of an effort to crack down on illegal immigration by requiring all employers to confirm the identity and legal status of any new workers by tapping into a Homeland Security Department system called E-Verify, which is now used voluntarily by about 7 percent of employers in the United States.But the proposal already faces objections from some civil liberties lawyers and certain members of Congress, who worry about the potential for another sprawling data network that could ultimately be the equivalent of a national ID system.The questions are being raised while a debate takes places over access to domestic phone records and Internet files of foreigners.
Democrats raised concerns over whether states can check citizenship without racial profiling
WASHINGTON — A Republican proposal to deputize local police as immigration agents would improve public safety, law enforcement officials said Thursday.
But Democrats said it would reopen the fractious debate over whether states can be trusted to investigate a person's citizenship status without engaging in racial profiling.Those contrasting opinions were the focus of a hearing before the House Judiciary Committee on Thursday about the Strengthen and Fortify Enforcement Act sponsored by Republican Rep. Trey Gowdy of South
Control – this is what fuels many Congressmen and women. Recently, two U.S. senators met with President Obama, vouching for a biometric national ID card that would force workers to submit to a fingerprint, hand, or iris scan. Any worker failing to comply with this biometric tracking mandate, would be terminated from their job.
The program would be titled the “Believe System,” an acronym for Biometric Enrollment, Locally stored Information and Electronic Verification of Employment.
The ID card would contain a digital encryption key that would be required to match work authorization databases. The micro-processing chip on the card would store the biometric identifier. The worker would be required to carry this card and the employer would be forced to scan it.
According to a 1996 document by Privacy International, around 100 countries had compulsory identity cards. The card must be shown on demand by authorised personnel under specified circumstances. Often alternative proof of identity, such as a driver's licence, is acceptable. Privacy International said that "virtually no common law country has a card".
The term "compulsory" may have different meanings and implications in different countries. Possession of a card may only become compulsory at a certain age. There may be a penalty for not carrying a card or other legally valid identification (a passport, for foreigners); in some cases a person may be detained until identity is proved. Random checks are rare, except in police states.
In countries of the European Union, a national identity card complying to certain standards can in most cases be used by European citizens as a travel document in place of a passport. An exception is that a Swedish national identity card is not usable when travelling from Sweden to a non-Schengen country.
Political philosopher Montesquieu (1989 – 1755) once said:
“There is no greater tyranny than that which is perpetrated under the shield of law and in the name of justice.”International, constitutional and US statute laws no longer matter. Obama declared them null and void. He does so by disregarding them.He consigned them to the dustbin of history. They’ve been heading there for years. Post-9/11, state terror accelerated.Bush administration rogues enacted numerous police state laws. Previous articles discussed them. Constitutionality was ignored. Obama added his own. Doing so exceeded the worst of his predecessor’s policies.Unconstitutional mass surveillance is official US policy. What Bush began, Obama accelerated. He did so straightaway as president.
The recent exposure of National Security Agency monitoring of Americans’ emails, live voice communications and stored data cast suspicion once again on private surveillance contractors linked to Israeli intelligence services. One firm called Narus has provided the NSA with technology for almost a decade that enabled it to obtain and analyze at least 80 percent of communications made by Americans over online and telecom channels. What was Narus’ role in the latest scandal, and how far back does its history of spying go?
One of the most insidious problems taking place in the gold and silver mining industry is the decline in falling yields. Not many realize, when yields decline, production evaporates and disappears. To offset the decline in metal yields, the mining companies have to add new mines and or increase the amount of processed ore.
“The Fed has recently expressed a desire to begin winding down its quantitative easing program in the next few months. This would be the first step towards the eventual raising of interest rates. Mr. Bernanke and the other members of our central bank believe the normalization of interest rates would occur within the context of robust markets and rising GDP growth.
However, it seems the Fed has only succeeded in duping some perennial bulls (and possibly even trying to convince itself) into believing that ending QE and the subsequent increase in rates would not adversely affect the economy … but markets are not so easily fooled....
Wall Street Rigging Currency Exchange Rates Too
In case you forgot your bankster overlords – free of fear thanks to Obama, Holder, and the NSA – are continuing to rig markets, here is yet another scandal. Wall Street has gone beyond rigging LIBOR, Swaps, and the Oil market to include the currency market.
Traders at some of the world’s biggest banks manipulated benchmark foreign-exchange rates used to set the value of trillions of dollars of investments, according to five dealers with knowledge of the practice.
Employees have been front-running client orders and rigging WM/Reuters rates by pushing through trades before and during the 60-second windows when the benchmarks are set, said the current and former traders, who requested anonymity because the practice is controversial. Dealers colluded with counterparts to boost chances of moving the rates, said two of the people, who worked in the industry for a total of more than 20 years.
Americans who disapprove of the government reading their emails have more to worry about from a different and larger NSA effort. As the AP reports, the program, that snatches data as it passes through the fiber optic cables that make up the Internet's backbone, which has apparently been known for years, copies Internet traffic as it enters and leaves the United States, then routes it to the NSA for analysis. As the name suggests, Prism is merely the intelligent filter, finding discrete, manageable strands of information within this much more massive data stream that is being collected and stored. Prism makes sense of the cacophony of the Internet's raw feed. What is unclear, as more details, interviews and documents become available, is how Prism fits into a larger U.S. wiretapping program in place for years (know as 'Hoovering' at one major internet company).
So we refused to be part of the NSA's dark blanket. That is why whistleblowers pay the price for being the backstop of democracy
What Edward Snowden has done is an amazingly brave and courageous act of civil disobedience.
Like me, he became discomforted by what he was exposed to and what he saw: the industrial-scale systematic surveillance that is scooping up vast amounts of information not only around the world but in the United States, in direct violation of the fourth amendment of the US constitution.
The NSA programs that Snowden has revealed are nothing new: they date back to the days and weeks after 9/11. I had direct exposure to similar programs, such as Stellar Wind, in 2001. In the first week of October, I had an extraordinary conversation with NSA's lead attorney. When I pressed hard about the unconstitutionality of Stellar Wind, he said:
As the USSA continues to devolve into a full blown police state empire the ironic keeps becoming the norm. So it is that a whistleblower has to take refuge from the secretive, tyrannical US government in totalitarian socialist China. Ah, but here I'm playing it fast and loose with what is considered to be China. NSA whistleblower Edward Snowden is actually in Hong Kong, which is technically part of China again though it remains semi-autonomous. Years of British rule left Hong Kong with a Western-stlye justic system that seems to be more in tact than the tattered one barely covering up the empire's naughty bits back in the US.
by Greg Hunter
Lots of people are comparing today’s gold market to the 1970’s. Gold shot up to nearly $200 per ounce and crashed 9 months later to near $100 an ounce. Of course, gold had an historic rise to $850 per ounce after that wicked pull-back. Some, such as economist Nouriel Roubini, say “the gold rush is over,” and the seventies are not going to repeat. The debt of today is greater by orders of magnitude from the 1970’s, and there is no end in sight. That means gold has only one way to go (in the long term) and that’s up.
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Gold conspiracy theorists have a new bogeyman. Inventories of gold bars held in the COMEX warehouses are falling. This fact is offered to support the stale allegations of “fractional gold” and “manipulation”. They have been predicting a “signal failure” that is coming any day now, like the Great Pumpkin in the Charlie Brown Halloween special. If not that, then surely at least the price of gold is going “to da moon”. Any day now, we have been repeatedly told, every day and every dollar down from the peak around $1900.The price will
rise again, as the centrally planned paper currencies continue their inexorable slide towards the oblivion of bankruptcy. The dollar, like all irredeemable paper currencies before it, will become worthless one day. That does not mean that there cannot be significant volatility in the meantime.
Sometimes one must see to believe, in this case believe just how massive the raw demand for the shiny, barbarous relic is in China during times of relative monetary stability (in this case the Dragon Boat Festival). Now assume runaway inflation as we saw in 2011 China, which may be unleashed by something as catalytic as the PBOC once again deciding to inject liquidity in its suffocating banking system and to revive growth in the stalling economy.
‘Don’t get me started,’ said the taxi driver.
But it was too late. He had already started. And he wasn’t going to stop until we arrived at our destination: an island in the Bois de Boulogne.The Bois de Boulogne is a large park on the western edge of Paris. It includes a lake and an island. On the island there is a nice restaurant. And in the restaurant were some colleagues who had invited us to lunch.‘I started working when I was 15,’ our driver began, in French with a thick Italian accent.‘I had no choice. I’ve been working ever since. That was 1971. I worked hard, you know. I saved my money. And I opened a restaurant. Here in Paris.‘It was a big success. A real money machine. But that was back when people had money to spend. Businessmen came in for lunch. They had three courses and a couple of bottles of wine. I did really well.
Ok, so how many deaths have we had in the USA due to terrorism in the last 20 years? How’s about 5000 or so? Agree? A bit less? A bit more? Hum, whatever that number, while truly tragic and deeply sad, with a population of over 300 million people, this number is actually quite miniscule. In fact, more people die each year by the flu than all the deaths caused by terrorism over the last 20 years.
Back in 1984, well before most Americans had ever heard of mobile phones or used a computer, the Federal government was hard at work mining whatever data they could get their hands on.President Reagan was in office and given his staunch stance on limited government no one could possibly have suspected that he, of all people, would be the Commander in Chief presiding over a fledgling surveillance state.Despite the ignorance of our populace and attempts to keep the American people in the dark, one lone wolf on the floor of the Congress had the prescient insight to understand what was really going on… and where it would one day lead.He’s one of the original conspiracy theorists… referred to by many is a quack or a nut for his non-mainstream views of government and his constant warnings of tyranny on our doorstep.Today his ‘theories’ have been proven to be 100% fact.
Watch this short video of Ron Paul recorded on September 6, 1984 and don’t ever say we weren’t warned.
Fresh off the Military-Industrial complex press:
Washington, D.C. – U.S. Senators John McCain (R-AZ) and Lindsey Graham (R-SC) today released the following statement on Syria:
“We appreciate the President’s finding that the Assad regime has used chemical weapons on several occasions. We also agree with the President that this fact must affect U.S. policy toward Syria. The President’s red line has been crossed. U.S. credibility is on the line. Now is not the time to merely take the next incremental step. Now is the time for more decisive actions.
“The conflict in Syria has taken a dramatic turn for the worse. The United Nations reported today that the death toll in Syria is approaching 93,000. Hezbollah is all in. Iran is all in. Iraqi militant groups are flowing into Syria to fight for Assad. Russia continues to provide military and diplomatic support. Assad is dramatically increasing his use of airpower against civilians and opposition forces in Syria. A report today stated that Assad’s forces conducted at least 5,000 air-to-ground attacks last month alone.
“A decision to provide lethal assistance, especially ammunition and heavy weapons, to opposition forces in Syria is long overdue, and we hope the President will take this urgently needed step. But providing arms alone is not sufficient. That alone is not enough to change the military balance of power on the ground against Assad. The President must rally an international coalition to take military actions to degrade Assad’s ability to use airpower and ballistic missiles and to move and resupply his forces around the battlefield by air. This can be done, as we have said many times, using stand-off weapons such as cruise missiles.
“We cannot afford to delay any longer. Assad is on the offensive with every weapon in his arsenal and with the complete support of his foreign allies. We must take more decisive actions now to turn the tide of the conflict in Syria.”
Top US Republican lawmakers have again called for further American actions against Syria, including the bombing of its air bases, leading a multi-nation invasion of the country and sending lethal weapons to anti-Damascus militant gangs.
Fervently pro-Israeli Senators John McCain of Arizona and Lindsey Graham of South Carolina further cited widely challenged claims by the Israeli regime of chemical weapons use in Syria to urge swift Washington action to “secure” chemical arms arsenals in the Arab country in efforts to prevent al-Qaeda-linked militants from gaining access to such weapons, US press reports said on Sunday and Monday.
The two lawmakers, however, did not explain how American forces would secure the alleged cache of Syrian chemical weaponry.
Graham went as far as warning that if the US does not intervene in Syria the next terrorist bombing in American soil will include chemical agents.
“The chemical weapons (in Syria)… are going to be compromised and fall into wrong hands and the next bomb that goes off in America may not have nails and glasses in it,” said Graham during a televised interview with major US network CBS on Sunday.
South of Utah's Great Salt Lake, the National Security Agency (NSA), a United States foreign intelligence service, keeps watch over one of its most expensive secrets. Here, on 100,000 square meters (1,100,000 square feet) near the US military's Camp Williams, the NSA is constructing enormous buildings to house superfast computers. All together, the project will cost around $2 billion (€1.5 billion) and the computers will be capable of storing a gigantic volume of data, at least 5 billion gigabytes. The energy needed to power the cooling system for the servers alone will cost $40 million a year.
As of this post, the main stream media has virtually shut down the news info coming out about the NSA Spying on Americans revelations. As usual, there is NO evidence linking the government to shutting down the story but since non-USA channels are coming up with exclusives and revelations left and right, well, it’s not a stretch to connect the dots.
By Bill Bonner
‘Behind every great fortune is a great crime,’ said French novelist Honoré de Balzac. What crime lies behind Booz Allen Hamilton?
More on that in a moment...
Still no clarity in the markets. Still no resolution. The unstoppable force of more and more credit is still bearing down on the immoveable object of excess debt.Ben Bernanke is pushing for higher stock prices... higher consumer prices... and higher bond prices. Mr. Market still hasn't expressed himself clearly.Mr. Market will have the last say. He always does. But he can hold his tongue for a very long time.
It is easy to be upset about what is happening all around. The economy is being destroyed, deliberately, by insane economic policies. Incentives to work are being eliminated by punishing work. At the same time rewards are increasing for not working. Not surprisingly we get less of what we penalize (work) and more of what we subsidize (non-work).
As an economist I get sick over what I see happening to what was once a great engine of productivity, capital creation and improvements in standards of living.
After two centuries of progress that amazed the world, the conditions necessary for growth and productivity are steadily being removed. Their presence allowed the miracle of America. Their absence guarantees the decline. Carried to extreme, the US could become a second or third-world nation within a few decades. Virtually all changes in the last five to ten years point in this direction and these changes are accelerating.
(Reuters) - More than a decade after Argentina's epic financial collapse of 2001-02, many investors are rushing for the door once again.From big Chinese and Brazilian companies like miner Vale do Rio Doce SA, to small-business owners and savers, the fear of a new crisis has led to canceled investments and suitcases of cash leaving the country.The mass exodus, which has been limited only by leftist President Cristina Fernandez's capital controls, is threatening to undermine Latin America's No. 3 economy even further by leaving it short of hard currency and new jobs.The underlying problems range from Fernandez's hostile treatment of the private sector, to severe financial distortions such as a parallel exchange rate, to the general feeling that Argentina is due for one of the periodic spasms that have racked the country every 10 years or so going back to the 1930s.
If you’re one of the 1,000+ subscribers who has take the trip down to Chile, you might have had the pleasure of meeting Marco, my right-hand man in Chile. One of the great things about Marco is that he intuitively understands our Sovereign Man philosophy. Because he lived through it.You see, Marco is originally from Argentina. And he has some extraordinary stories about what it’s like to live through a sovereign default and currency collapse.
Off-duty cops in two counties in Alabama spent the weekend collecting saliva and blood samples from drivers at roadblocks.According to Lt. Freddie Turrentine with the St. Clair County Sheriff’s Department, drivers were asked to voluntarily offer samples of their saliva and blood for a study being conducted by the Pacific Institute for Research and Evaluation.The drivers were compensated for their samples.“They’ve got big signs up that says ‘paid volunteer survey’ and if they want to participate they pull over there and they ask them questions and if they are willing to give them a mouth swab they give them $10 and if they are willing to give them a blood sample they give them $50. And if they don’t do anything they drive off,” Turrentine explained to The Daily Caller.What Is the Government’s Agenda?
by Ivan Eland,
The firestorm of media coverage over a whistleblower’s revelation — that the National Security Agency (NSA) likely has been monitoring the telephone calls of most Americans and is likely reading some Americans’ emails, photos, and other electronic data without a search warrant when trying to catch suspected terrorists (a program called “Prism”) — has become muddled by pundits conflating the two distinct agency efforts.
From the limited information available on the programs — itself a problem because the United States still purports to be a republic — the first program is worse than the second. Although President Obama and other government officials keep insisting that no Americans’ phone calls were listened to, that should not comfort anyone. The former program is what the intelligence community calls “traffic analysis,” which means keeping track of the time, duration, and phone numbers of calls, and the second is called “content analysis,” which involves actually examining the content of communications. New technology has rendered examining communications content to be much less important to snooping; now, traffic analysis using supercomputers can be used to track people’s lives and whereabouts without ever examining content.
by Clive Maund
While silver is on the defensive short-term there is plenty of evidence that over the medium and longer-term it is setting up for a powerful rally. COT’s and sentiment are already very bullish indeed, which means that when the turn does come, the rally is likely to be accentuated by panic short covering.
On its 6-month chart we can see how silver is being pressured lower by its falling 50-day moving average coming into play overhead, although the increasingly large gap between the 50 and 200-day moving averages is indicative of an oversold state that increasingly calls for reversal. Volume is still predominantly negative, suggesting lower prices dead ahead. After that we can expect reversal. There was a pronounced bull hammer in silver in the middle of May towards the intraday low of which there is quite strong support – silver may drop no longer than the low of this hammer.