BRIC Meeting - A Turning Point

Folks, If you missed yesterday's posting, you missed out on one of the speculations on China presented by Richard Maybury. You should check that out, because it is very important and could well be the reason that China is so interested in replaced the dollar are the reserve currency. See also, the first article below which is an attempt to directly replace the dollar among the BRIC countries.

By the way, Crude Oil was up to 70.62 and reformated gasoline to 2.053. I filled the tank yesterday at 2.51 up from 2.39 at the last filling.

Here is some critical data: The net security purchases by foreignors for April was $11.2 Billion compared with March's $55 Billion. Interesting that Russia did not buy into the dollar denominated securites big time after the rhetoric of "strong dollar" yesterday. Economist are predicting further deterioration of the housing market. Some, thought to be conservative, are predicting 10-20% fall form current prices. But yet, we have glowing reports from those with rose colored glasses.

The bullion banks and the rest of the boyz have a very large number of short contracts in the precious metals and closed our very few during the current correction. Thus, they will continue to intervene and profit on the price manipulation. This will not end until they close their short, run out of funds from their deep pockets and the Federal Reserve, or until their is much more buying by other deep pockets, such as the Sovereign Wealth Funds. It will end at some time, and then we will see the metals reach reasonable prices.

Meanwhile, the manipulators are back again as clearly shown in both gold and silver graphs. However, both are up some today. Gold is 935.50 and silver 14.19 with both on up ticks.

The miners have refused to break the 50 moving average and bounced up from that threat. Our miners are moving higher today >> DROOY 8.10 ( I bought some yesterday at about 7.75);HL 2.95; HMY 10.66; SLW 9.43 and VGZ 2.08. I believe in adding a little on every correction. In time, the corrections will be less severe as the basic major trend is upward against a down trending dollar.

Both the DOW and Transportations had a seriously bad day yesterday. Thus, we see that the bear trend remains in control. It is likely that this bear rally is topping out and should return to the major down trend. Today, the DOW is up about 14.

From GlobalResearch.ca:

De-Dollarization: Dismantling America’s Financial-Military Empire

The Yekaterinburg Turning Point

by Prof. Michael Hudson

The city of Yakaterinburg, Russia’s largest east of the Urals, may become known not only as the death place of the tsars but of American hegemony too – and not only where US U-2 pilot Gary Powers was shot down in 1960, but where the US-centered international financial order was brought to ground.

Challenging America will be the prime focus of extended meetings in Yekaterinburg, Russia (formerly Sverdlovsk) today and tomorrow (June 15-16) for Chinese President Hu Jintao, Russian President Dmitry Medvedev and other top officials of the six-nation Shanghai Cooperation Organization (SCO). The alliance is comprised of Russia, China, Kazakhstan, Tajikistan, Kyrghyzstan and Uzbekistan, with observer status for Iran, India, Pakistan and Mongolia. It will be joined on Tuesday by Brazil for trade discussions among the BRIC nations (Brazil, Russia, India and China). Read it HERE.

Folks, this could be it! It certainly will be a major step toward removing the reserve status from the dollar. The recent comments from Japan and Russia, notwithstanding, will soon be seen as the intended doublespeak it really was. That is, particularly that from Russia. This is serious business and is well under the radar of the U.S. media, but I am certain it is not going unnoticed by those in Washington.

Thumbing the nose at Gore and the Global Warming crowd is an article from Telegraph.co.uk:

Crops under stress as temperatures fall

Our politicians haven't noticed that the problem may be that the world is not warming but cooling, observes Christopher Booker.

For the second time in little over a year, it looks as though the world may be heading for a serious food crisis, thanks to our old friend "climate change". In many parts of the world recently the weather has not been too brilliant for farmers. After a fearsomely cold winter, June brought heavy snowfall across large parts of western Canada and the northern states of the American Midwest. In Manitoba last week, it was -4ºC. North Dakota had its first June snow for 60 years. Read it HERE.

What a farce the whole global warming is. Those who are in the center of it are using the "scientific" deception to penalize America. It is an attempt to bring us down to third world status. Of course, the financial situation is doing a good job of producing their results.

From Aljazeera.net:

Why America is a bank-owned state

In my last column I introduced the idea that America's handling of the financial crisis, and in particular the way it has refused to deal with the banks, is more in keeping with how an "emerging" economy might behave and act.

So this week, I will say that America has become a bank-owned state, allowing its banking oligarchs to suffocate the economy so they can survive at any price.

As a development economist, what always made developing and poorer countries stand out was the level of inequality between individuals.

That is, the difference between how a small percentage, usually the country's capitalists, oligarchs and those close to people in power, were overdosing on wealth as the rest struggled to make ends meet, or even survive. Read it HERE.

A young economist from across the world sees the reality of our country with clarity. This is an article worth reading, as such will not be presented here in America. We are to be held in ignorance.

From TownHall.com:

Why Women Are Unhappy

by Phyllis Schlafly

The National Bureau of Economic Research released a study to be published soon in the American Economic Journal that shows women's happiness has measurably declined since 1970. It's no surprise that this has stimulated much comment.

This study covers the same time period as the rise of the so-called women's liberation or feminist movement. The correlation demands an explanation. You can read the entire study at www.eagleforum.org/links.

One theory advanced by the authors, University of Pennsylvania economists Betsey Stevenson and Justin Wolfers, is that the women's liberation movement "raised women's expectations" (sold them a bill of goods), making them feel inadequate when they fail to have it all. A second theory is that the demands on women who are both mothers and jobholders in the labor force are overwhelming.

I'm neither an economist nor a psychologist, but I'll join the conversation with my own armchair analysis. Another theory could be that the feminist movement taught women to see themselves as victims of an oppressive patriarchy in which their true worth will never be recognized and any success is beyond their reach. Read it HERE.

I would suggest from a biblical perspective, the feminist movement which was mentioned in Genesis 3 in God's judgment on Eve, has resulted in feminizing men. As men have become more feminist, they have neglected their roles as spiritual leaders and heads of households. Thus, the feminist woman has shot herself in the foot. She has fought against her God-given glorious place as a perfectly appropriate helper to her husband as she has sought to compete with men in the work place. She has moved herself to the battle field to be raped and killed. She has sought to rule over men, against which she was warned in Genesis 3. Now, perhaps, she has realized a longing to be protected by real men, as she works along side them in the home and supports her husband. Today, in contrast to the women and children first on the Titanic, it is every man, woman, and child for his/her self, and the devil take the hind most.

I am so pleased to have the one true God who has written, through men, His revelation of law and grace. His law is our guide to show us our sin and to lead us to the one and only way of reconciliation through Jesus Christ, alone. After we are brought into the household of faith by His Holy Spirit, we are called to live a life in concert with His law. We cannot know how to live without studying in detail the law of God found in the Old Testament Torah (1st five books). Study and meditate upon it for it is life to us. To ignore it is death.

Best to each, Doug