Sunday, July 10, 2011

Portugal's downgrade 'appalling': EU Commission adviser

From: Euronews | Jul 9, 2011

The downgrade of Portugal's debt to junk status by the credit ratings agency Moody's should serve as a wake-up call to the rest of Europe, says the country's president.

Jim Rickards - 'where is the Gold & Silver going to come from?'

Jim Rickards talks to Eric King of King World News about the coming Gold (and Silver) demand from the newly opened Pan Asian Gold Exchange.......listen here

John Hathaway on the Pan Asian Gold Exchange

John Hathaway talks to Eric King of King World News about the coming Gold (and Silver) demand from the newly opened Pan Asian Gold Exchange....listen here

Steven Romick on Contrian Investing

I am somewhat miffed by this bloke generating an annualized return of 11%pa for the last 10 years thereby qualifying to be a finalist for Morningstar's Manager of the Decade award. I invested in silver in the AUD$280 - 320/kg range 10 years ago for an annualized return of 14 - 15% and everyone I knew at the time said I was a fool.

From: WealthTrack | Jul 1, 2011

"Great Investor," Steven Romick, finalist for Morningstar's Manager of the Decade award, discusses the contrarian investment approach that makes his go anywhere, invest in anything, FPA Crescent Fund one of the best in the business.

Gerald Celente on RT

Malaysia cracks down on protesters

From: AlJazeeraEnglish | Jul 9, 2011

Police in Malaysia have fired tear gas and arrested hundreds of protesters in the biggest opposition-backed rally in years.

More than 20,000 demonstrators massed across Malaysia's capital Kuala Lumpur on Saturday, demanding electoral reforms, activists said.

Australia announces new tax for Carbon Based life forms

Australian Prime Minister, Julia Gillard has announced a carbon tax of $23 per tonne of CO2 emissions by the top 500 polluters.


JULIA Gillard has announced a carbon price of $23 per tonne, which she says will reduce Australia's carbon pollution emissions without costing most households anything.

Announcing the carbon price package this afternoon, Ms Gillard has said there is an "avalanche of science" to tell us the climate is changing.

"Now is the time to get this done. As a nation we need to put a price on carbon and create a clean energy future."

Ms Gillard has said the government will require 500 big polluters to pay a price per tonne for the carbon they release into the air. "At the moment those big polluters can release that pollution into our atmosphere for free."

This will cause the polluters to innovate and change to reduce their bills. "In doing so they will reduce their carbon pollution.

"This all adds up to a reduction in carbon pollution of 160 million tonnes by 2020. That's the equivalent of taking 45 million cars off the road."

The carbon price will force up living costs by almost $10 a week, but nine out of 10 Australian households will be compensated through tax cuts or extra payments.

Read more:

The following video is meant as light relief to an incredibly tedious debate built on disputed data and dug in positions, and does not represent the views of ABC Bullion.

On The Edge - with Steve Keen

I had the pleasure of chatting to Steve Keen last year at the Sydney Gold Symposium conference, a very thoughtful and intelligent bloke.

by on Jul 9, 2011\

In this edition of On the Edge, Max Keiser interviews Steve Keen, Australian economist and author of the book Debunking Economics.

He says that debts have spiraled out of control and the reason is shadow banking system. The program touches on the correlation between the US-EU debt crisis and the worsening Greek economy.