On the face of the departure of Senator Glenn Lazarus from the Palmer United Party shows PUP is a failure.
But what if PUP has already achieved its purpose? The departure of Lazarus then signifies that PUP actually achieved all Palmer required of it: the destruction of Campbell Newman’s Queensland LNP government, after only one term.
And in that regard, Palmer United has been a spectacular success. What’s more, it helped repeal the carbon and mining taxes. Palmer couldn’t have hoped for more.
Now, if you look at the G7 countries, they are all insolvent. They are all bankrupt. Their total debt is about $30 trillion and growing. And of course we understand that when countries are in a desperate economic situation and they don’t really know what to do with it, they try to stage all sorts of spectacular foreign policy stunts, which we are witnessing now.
Now America is facing default in two years time, and America is very aggressive across the world and in Europe as well. Now, the cynics in Russia are saying that America needs a big war. I think that the best possible way to solve this situation is for everyone to take a step back, because all this rhetoric does not help, all this aggressive rhetoric does not help anyone.
The Malaysian air force sheepishly admits that an aircraft flew back across their airspace in radio silence and no-one even noticed until days later.
Air crash investigators go public with half-baked information and blatantly doctored evidence. Observe how the printed out images held up at the Malaysian investigators’ press conference clearly share the same legs! The left image uses the legs of the right image. Image downloaded from Daily Mail
The photoshopped photos could be something of a cultural misunderstanding, in that a photo-fit is not meant to be photo-realistic, but the impression is they take the media and public for idiots in this very serious matter.
If the defamation laws are anything like Indonesia and Singapore, Malaysians are criminally liable if they draw attention to any of this.
In one of those amazing coincidences, the establishment’s Western-oriented nemesis Anwar Ibrahim was re-incarcerated for sodomy only hours before this aircraft went missing.
All this adds up to a regime overdue for some colour revolution-style “reformasi”.
In a dramatic turn of events, it has emerged that the co-pilot of flight MH370 smoked in the cockpit. He also routinely entertained passengers there. This casts a whole new light on the mysterious disappearance of the Malaysian Airlines Boeing 777.
A fire in the cockpit could explain the mysterious radio silence from the plane, shortly after it commenced a u-turn without notifying air traffic control. It may even explain the loss of automatic transponder transmissions identifying the aircraft callsign and its present whereabouts.
A possible scenario emerges: a fire started in the cockpit, destroying the plane’s most critical avionics. The plane then flew under limited control for at least an hour, but without fully functioning instruments the pilots could not prevent it falling into the sea on the Western side of the Malay peninsula.
Fire has brought down passenger planes before. Only one passenger survived Varig Flight 820 after a cigarette ignited the contents of a waste bin. Swiss Air flight 111 crashed due to an uncontrollable blaze caused by overheating electronics. Air Canada Flight 797 managed to land but only after a fire “burned through crucial electrical cables that knocked out most of the instrumentation in the cockpit”.
At the very least a co-pilot who routinely lets passengers into the cockpit ought to be a prime focus of the investigation.
Speaking on the Keiser Report gold analyst Alasdair Macleod has dropped a bombshell — between Feb 28 and June the Bank of England’s gold vault was emptied of a massive 1300 tonnes of gold — enough to explain why the gold price fell so dramatically over that timeframe. Jump forward to 12 min 58 sec:
The gold does not necessarily belong to the UK (which only owns 310 tonnes) — it is the sovereign gold of many nations who must have agreed on a coordinated plan to lease it out — or sell it. Those countries aren’t necessarily going to get the gold back now that demand is surging. It was a massive gamble, and it looks to have backfired in a stupendous way. China and India have ramped up their gold purchases to unprecedented levels. The gold has gone East and will not come back for many decades or even centuries.
The implication is that the intervention was a one-off and cannot be repeated. The gold price will recover and then some. Ben Bernanke said he didn’t pretend to understand the gold market, well now he and his dog shouldn’t pretend to NOT understand the gold market — the price is manipulated like no other and for very important reasons. But that manipulation cannot last and the price action to come as a result will be something to behold.
The Australian Government is boasting that it has now donated over A$100 million to help refugees from the war in Syria.
The Australian Government fears the refugee crisis in Syria will soon spill over into their region — tens of thousands of Syrians fleeing the violence could soon head to Australia.
As costly as the crisis is to them, they are unwilling to call out NATO and its Middle East partners for training and funding the Syrian rebels. It seems that as much as they fear the politically toxic refugee flows, NATO has their blessing in continuing its obscene sponsorship of the thugs, fruitloops and cannibals presently laying waste to Syria.
The proposed Trillion Dollar Coin, like any special-edition notionally-legal-tender coin, would have a face value in excess of its commodity value. It could be composed of, for argument’s sake, just one ounce of platinum. In theory the Treasury would deposit it at the Fed, which would then credit the Treasury’s account with $1 trillion and “solve” the debt ceiling crisis.
The Fed would as a consequence have negative equity as its liabilities would exceed the market value of its assets — if the Fed tried to sell the coin no-one is actually going to give them $1 trillion for it.
There is a precedent for the Fed buying assets at a par value vastly in excess of market value. Toxic Mortgage-Backed Securities purchased from QE1 onward are probably worth cents in the dollar.
But let us take this Trillion Dollar Coin to its logical conclusion — “Reductio ad Krugman”. What if the Treasury simply fabricated ten million $100,000 platinum coins instead – do you think the Fed would be able to offload those for $1 trillion in cash?
At some point, maybe overnight, ordinary people would realize how absurd it is that a coin can be ascribed so much value by fiat. They will intuit that the US dollar is a scam. US dollar bills are worth literally nothing. At least you can say that a coin, 1 ounce of platinum, actually has melt value. Only $1600 worth, but better than nothing.
But, and this is quite ironic, the Treasury could unintentionally fulfil its promise that, yes, a one ounce platinum coin could actually become accepted legal tender at its face value of $100,000! How? Well the US dollar would have devalued so much that platinum really would be priced at $100,000 per ounce… and gold at $100,000 per ounce, and silver… let’s just pick a number.
The Trillion Dollar Coin is a terrific idea. You can add your name to the petition here.