Celente predicts gold standard won't save US economy

Sometimes controversial trends analyzer Gerald Celente is forecasting that a return to the gold standard will not be enough to save the US economy from collapsing.

Celente is the publisher of Trends Journal and a consultant and adviser to many of America's top corporations. Celente has no ax to grind and calls himself a political atheist. An author, Celente appears regularly on many of the mainstream media's most watched news programs. He is prolific with his predictions on emerging trends concerning global finances and major historic turning points.

Recently he was asked his opinion on the idea of the US returning to the gold standard.

Although a solid core of gold bugs have advocated the US return to the gold standard for decades, many economists thought the idea radical and unworkable in the changing world economy. Now, however, more people and states are seriously considering the idea to stabilize the dollar and forestall a future currency crisis such as that experienced by the German Republic during the 1920s.

Recently, the state of Utah passed a law authorizing the minting of state gold and silver currency as a hedge against inflation and the weakening dollar.





People such as Steve Forbes have jumped on the gold bandwagon. Mr. Forbes said, "A return to the gold standard by the United States within the next five years now seems likely, since that move would help the nation solve a variety of economic, fiscal and monetary ills."

But Celente disagrees that returning to the gold standard will save the US economy. When asked if gold is a panacea for America's financial woes, Celente responded: "No, because the business of America is war…as opposed to the business of China is business. The United States has drained the Treasury before our eyes."

Helium

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Greenback Armageddon ahead?

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Coming this summer.... $5 gas

The forecast for the summer driving season: Hit the road early. Not to beat the traffic, but to beat the higher gas prices expected in mid-July.

Goldman Sachs' crystal ball is proclaiming that oil will soon soar to $135 a barrel, and likely have service stations jacking up fuel prices to $5 a gallon in New York just like the summer of 2008 that preceded the recession.

Indeed, analysts say Goldman and the other oil trading giant that also has the might to move prices, JPMorgan Chase, have already placed their energy bets for the summer. JPMorgan predicts oil hitting $130 a barrel in the coming weeks.

Despite all the turmoil in the Middle East associated with the Arab Spring rioting, oil has fallen to the $100 level, closing out May with a stunning 12 percent drop.

But before the storm, the calm. There appears to be a backlash by some oil-pit analysts.

"Whoever would buy into these rising prices is just paying homage (to Wall Street firms) and helping the speculative positions," said one oil trading source familiar with energy bets of Wall Street trading desks.

Gas prices, meanwhile, should benefit from the brief respite in oil prices.

"We should be seeing some big declines at the gas pumps after Memorial Day," said energy analyst Peter Beutel of Cameron Hanover.

"Wholesale prices have been dropping, and that could cause some serious revisions downward at the pumps," he said.

"The competition is fierce among the retailers, and whoever lowers his price first gets a big jump on everyone else and a lot of new business."

Pump prices have dropped about 10 cents a gallon this week, while wholesale prices at the Nymex have steadily skidded 50 cents a gallon in the past two weeks.

Those declines came despite upward pressure on wholesale prices here in the past two days due to speculation that Mississippi River flooding could disrupt Gulf Coast refineries.

At the start of the Memorial Day holiday, the national average for gas was $3.80 a gallon.

Tom Kloza, an analyst at Oil Price Information Services, expects gas to fall to between $3.50 and $3.60 between now and the July 4 holiday.
NY Post

Read more: http://www.nypost.com/p/news/business/the_living_easy_the_driving_is_hard_9mzb1aAfj4bpC8X63YYKhI#ixzz1NqK38TJQ

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Greek leaders fail to agree as IMF deadline looms

Greek leaders meeting in Athens have failed to agree on Prime Minister George Papandreou's new austerity plan.

Conservative leader Antonis Samaras rejected the measures, saying they would "flatten the Greek economy and destroy Greek society".

Mr Papandreou, a Socialist, had been trying to secure cross-party agreement for further cuts.

The chairman of the eurozone finance ministers has warned the IMF may not extend further bail-out payments.

Luxembourg Prime Minister Jean-Claude Juncker said IMF rules might stop it paying because Greece could not guarantee its solvency for the next year.

Mr Papandreou's government began a programme of privatisations on Thursday, but Mr Juncker has said the privatisation plan needs to be more ambitious.

A 12bn-euro ($17bn; £10bn) payment is due to be made to Greece on 29 June, 3.3bn euros of which should come from the IMF.

It is the fifth tranche of the 110bn-euro loan package from the EU and IMF and has not yet received final approval.

Mr Juncker said the IMF was assuming that if it decided not to make the payment, the EU would step in and make it instead, although he said that countries such as Germany, Finland and the Netherlands may oppose that.'Correct errors'

In an interview with the Aachener Zeitung newspaper, the President of the European Central Bank, Jean-Claude Trichet, also urged Greece to ensure financial stability.

"Greece must implement the programme fully and rigorously; this is very important to correct the errors of the past," he is reported to have said.

Under the terms of the bail-out, Greece was supposed to go to the financial markets to borrow 24bn euros in 2012.

However, as Greece has missed its deficit reduction targets, the chances of it being able to borrow money commercially next year are very small.

The IMF would like the EU to agree to make up the shortfall if necessary through a second bail-out package, but that could be unpopular among northern European taxpayers.

An IMF spokeswoman confirmed that the Fund would be unable to lend more money to Greece unless it was sure that next year's financing gap would be filled.

"We never lend when we don't have an assurance that there will be no gap," said Caroline Atkinson at a briefing in Washington.

"That is how we maintain the safety of our members' money."

But a spokesman for Mr Juncker later said that if the EU and IMF inspectors currently in Athens could be convinced by new Greek austerity measures, there would be no problem with the next tranche of loans.

BBC

MORE:
http://www.bbc.co.uk/news/business-13577853

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Report: Iran sending forces to assist in Syria crackdowns

Iran sending members of elite Quds force as well as weapons, riot gear, sophisticated surveillance equipment to use against Syria government opposition.

U.S. officials said that Iran is assisting Syrian President Bashar Assad's violent crackdown on protesters, sending trainers and advisers to suppress opposition, according to a Washington Post report.

Iran has sent members of its elite Quds force, whom the United States has recently sanctioned in response to the 10 weeks of brutal Syrian government quashing of protests, to help the Syrian government, Iran's most important ally in the region.

Manpower is only one of the forms of assistance Iran has sent to Syria, the report said, with the Islamist government sending weapons, riot gear and sophisticated surveillance equipment that allows Syrian authorities to trace and find opposition members through Facebook and Twitter accounts.

The surveillance system has reportedly prompted the arrest of hundreds of Syrians in recent weeks, two U.S. officials and a diplomat from an allied nation told the Washington Post, all speaking on condition of anonymity due to the sensitivity of the information.

MORE:

http://www.haaretz.com/news/international/report-iran-sending-forces-to-assist-in-syria-crackdowns-1.364543

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New method 'confirms dark energy'

Genesis 1:15-18 (New King James Version)

¹⁵ and let them be for lights in the firmament of the heavens to give light on the earth”; and it was so. ¹⁶ Then God made two great lights: the greater light to rule the day, and the lesser light to rule the night. He made the stars also. ¹⁷ God set them in the firmament of the heavens to give light on the earth, ¹⁸ and to rule over the day and over the night, and to divide the light from the darkness. And God saw that it was good.


In spanish (much close to the latin) the 17 says:


¹⁷ Y las puso Dios en la expansión de los cielos para alumbrar sobre la tierra,


This does not translate Firmament but expansion of the heavens.....
Same as scientists say "constant expansion"


NOW:

Job 9:6-8 (King James Version)

 ⁶Which shaketh the earth out of her place, and the pillars thereof tremble.

 ⁷Which commandeth the sun, and it riseth not; and sealeth up the stars.

 ⁸Which alone spreadeth out the heavens, and treadeth upon the waves of the sea.

Here is the news:

First results from a major astronomical survey using a cutting-edge technique appear to have confirmed the existence of mysterious dark energy.

Dark energy makes up some 74% of the Universe and its existence would explain why the Universe appears to be expanding at an accelerating rate.

The finding was based on studies of more than 200,000 galaxies.

Scientists used two separate kinds of observation to provide an independent check on previous dark energy results.

Two papers by an international team of researchers have been accepted for publication in the Monthly Notices of the Royal Astronomical Society journal.

One type of observation used by the astronomers involves measuring apattern in how galaxies are distributed in space. This pattern is known by the term "baryon acoustic oscillations".

The second type of observation involves measuring how quickly clusters of galaxies have formed over time. Both of these techniques confirmed the existence of dark energy and the acceleration in the expansion of the Universe.

The concept of dark energy was first invoked in the late 1990s by studying the brightness of distant supernovas - exploding stars.Einstein was right

To explain why the expansion of the Universe was speeding up, astronomers had to either rewrite Albert Einstein's theory of gravity or accept that the cosmos was filled with a novel type of energy.

"The action of dark energy is as if you threw a ball up in the air, and it kept speeding upward into the sky faster and faster," said co-author Dr Chris Blake of the Swinburne University of Technology in Melbourne, Australia.

"The results tell us that dark energy is a cosmological constant, as Einstein proposed. If gravity were the culprit, then we wouldn't be seeing these constant effects of dark energy throughout time."


The latest findings have come from a galaxy survey project called WiggleZ, which began in 2006 and finished this year. WiggleZ used data from Nasa's Galaxy Evolution Explorer (Galex) space telescope and the Anglo-Australian Telescope on Siding Spring Mountain in Australia.

The survey mapped the distribution of galaxies in an unprecedented volume of the Universe, looking eight billion years back in time - more than half the age of the Universe.

Cosmologist Bob Nicholl, who was not involved with the research, told BBC News: "This is a major step forward. These guys are serious, major scientists and we've been waiting for this result for some time.

The professor of astrophysics at Portsmouth University, UK, added: "It's re-confirmation of dark energy, it gives us another data point to fit our theories around and it shows us the way to the future. More astronomers are going to be doing this in years to come."

While dark energy makes up about 74% of the Universe, dark matter - which does not reflect or emit detectable light - accounts for 22%. Ordinary matter - gas, stars, planets and galaxies - makes up just 4% of the cosmos.

However, despite scientists being able to infer the existence of dark energy and dark matter, these phenomena still elude a full explanation.

BBC

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