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Originally posted by marg6043
Stocks Could be Led by Unemployment Claims
“The update reflects important simplifications to the manner in which job estimates are calculated and reported. Specifically, recipients will now report job estimates on a quarterly, rather than cumulative, basis. As a result, recipients will no longer be required to sum various data on hours worked across multiple quarters of data when calculating job estimates,” White House budget director Peter Orzsag wrote in a letter to stimulus recipients.
Despite the Obama administration’s efforts to create jobs and improve jobless reports each month, jobs growth in the U.S. remains anemic, and it could be some time before the economy experiences a robust period of growth, according to a report by the Economic Policy Institute.
Since the recession began in December 2007, the economy should have created roughly 3.8 million jobs over that time. Instead, the economy shed 8.1 million jobs over that period, putting the U.S. economy 10.6 million jobs below pre-recession levels.
The massive number of unemployed Americans will be problematic even when the economy begins to create jobs. As those millions of Americans reenter - or attempt to - the workforce, it will cause the unemployment rate to rise even higher.
In October of 2009 the Chinese received a shipment of gold bars. Gold is regularly exchanged between countries to pay debts and to settle the so-called balance of trade. Most gold is exchanged and stored in vaults under the supervision of a special organization based in London, the London Bullion Market Association (or LBMA). When the shipment was received, the Chinese government asked that special tests be performed to guarantee the purity and weight of the gold bars...
What the Chinese uncovered:
Roughly 15 years ago — during the Clinton Administration [think Robert Rubin, Sir Alan Greenspan and Lawrence Summers] — between 1.3 and 1.5 million 400 oz tungsten blanks were allegedly manufactured by a very high-end, sophisticated refiner in the USA [more than 16 Thousand metric tonnes]. Subsequently, 640,000 of these tungsten blanks received their gold plating and WERE shipped to Ft. Knox and remain there to this day.
According to the Chinese investigation, the balance of this 1.3 million to 1.5 million 400 oz tungsten cache was also gold plated and then allegedly “sold” into the international market. Apparently, the global market is literally “stuffed full of 400 oz salted bars”. Perhaps as much as 600-billion dollars worth...
What’s going to happen now?
Politicians like Ron Paul have been demanding that the Federal Reserve be more transparent and open up their records for public scrutiny. But the Fed has consistently refused, stating that these disclosures would undermine its operation. Yes, it certainly would!
The following information may be the most important we have ever published. One of our Intel sources, highly placed in banking circles, tells us that on 1/1/10 all banks that have received TARP funds have been informed by the Federal Reserve that they must further restrict any commercial lending. Loans have to be 75% collateralized, 50% of which has to be in cash, which is a compensating balance.
The Fed has to do one of two things: They either have to pull $1.5 trillion out of the system by June, which would collapse the economy, or face hyperinflation.
Policy makers are still studying ways to drain $1 trillion in excess cash from the financial system and debating how to signal a rate increase that economists say is at least 10 months away. The first test of their exit strategy will come in March, when the Fed’s purchases of $1.25 trillion of mortgage-backed securities are scheduled to end.
"The world’s largest economy will expand 2.7 percent this year, the best performance in four years, the Bloomberg survey showed. Consumer purchases will grow 2 percent, up from a December estimate of 1.8 percent and the first gain since 2007, according to the median forecast of 60 economists."