RBA cuts 100 BPS…  It IS a recession!  Paulson to ruffle feathers?  Yen to rally hard? And Now… Today’s Pfennig!

Right out of the starters blocks this morning, the Reserve Bank of Australia (RBA) pulled the rug right out from under the “high yield status” of their economy, with another HUGE rate cut overnight… This time, the RBA cut 100 BPS, to an internal cash rate of 4.25%. This brings the total since September to 300 BPS! WOW! Talk about effectively unwinding seven years of tightening! The statement following the rate announcement leads me to believe that the RBA is probably finished cutting rates for now… It will be a wait-n-see what happens globally, before the RBA entertains any talk of further rate cuts… At least that’s my opinion!

Had a long talk with the legal beagles yesterday… The just don’t like what / how I say things. This all stems

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h1 style="text-align: center;"bBank Nationalization/b/h1h2 style="text-align: center;"bspan class="Apple-style-span" style="color: rgb(102, 0, 0);"Bank Nationalization Day/span/b/h2a href="http://3.bp.blogspot.com/_tvshDVnXSLc/SS_l74vGpJI/AAAAAAAAAf4/J6EgOxMC024/s1600-h/RBS-DundasHouse.jpg"img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 320px; height: 200px;" src="http://3.bp.blogspot.com/_tvshDVnXSLc/SS_l74vGpJI/AAAAAAAAAf4/J6EgOxMC024/s320/RBS-DundasHouse.jpg" alt="" id="BLOGGER_PHOTO_ID_5273686505679135890" border="0" //a Old HQ pictured. Following failure of shareholders to buy more than 0.24% (only £36m for 56m shares) of the Royal Bank of Scotland Group's £20bn share issue, RBS (1) (including Citizens Bank, USA, and NatWest Bank, England) today became the third to be formally nationalised (nearly 58%). The small take-up of the issue by existing shareholders had been expected as the offer price of 65.5p was 10p higher than the price at which the shares were trading, so those who did buy on paper lost £5m doing so. The share issue by RBS was part of the government's plan to recapitalise banks. The government will pay £15bn for the majority stake in the bank plus £5bn of ...

We are all being deceived by the nature of our banking system, says Matthew Collins. Fractional reserve banking is corrupt. And with the Fed at the heart of the scam, it’s no wonder things are so messed up. Matthew says its time we stand up and demand answers.

This from The Sovereign Society:

Your bank is a counterfeiter, as facilitated by the Federal Reserve System and permitted by the government that allegedly represents you.

The lie of fractional reserve banking is at the heart of our ‘banking’ system. And its acceptance as fact or necessity by the world’s populace is the basis on which most other economic lies and myths gain so much credibility.

To understand why we’re in so much trouble right now, and why the privately owned Federal Reserve Banks are to blame, one must understand fractional reserve banking, and why it amounts to little more than counterfeiting.

King Edward II, ...

As the economic crisis continues to unfold, recently a sense of uncertainty has begun to pervade the market. Even dyed-in-the-wool risk takers admit that they don’t know what to think anymore. Inflation, deflation, recession or depression – there are so many vagaries that it appears to be anyone’s guess what will happen next.

Despite the current, volatile environment, though, the expert team at Casey Research maintain their core prediction: that a highly inflationary cycle is not far off. While we, along with several external experts, continuously review our assumptions and conclusions and encourage dissenting opinions and analysis to avoid biased conclusions, so far we keep returning to our views about what’s coming. That said, the hardest thing to predict is not what will happen, but when.

The way I see it, the swift, far-reaching and mostly ill-conceived reactions from most of the world’s governments under the leadership of two apprentice sorcerers (Bernanke

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Austria is justifiably famous for its banking system—particularly for its bank secrecy law, which has the same legal status as the Austrian Constitution. But while Austrians take their financial privacy very seriously, there’s another aspect of Austria that doesn’t get as much attention: residence. With its world-class opera, museums, and galleries, Austria is truly one of the world’s most civilized countries. Vienna, its capital, is a cultural treasure. Indeed, Mercer’s, a major human resources consultancy ranks Vienna as the second most desirable city to live in the world (behind Zurich)—and Vienna is much more affordable. And within an hour’s drive of Vienna, you can visit three different countries: the Czech Republic, Hungary, and Slovakia. Austria is also a popular haven for English-speaking expatriates. While you won’t find the concentrations of U.S. expatriates that you would in places like Costa Rica, Panama, or London, you’ll find a high quality of life and reasonable ...

www.MoveMe.com makes moving easier with a full online menu of free services and guides to make your move successful and stress-free. The site was created in 2005 and does not charge users for any of the services as it collects fees from featured partners on the site if you choose to get quotes for moving services such as removal companies. Most of the featured partners on the site also offer special discounted rates for registered users of MoveMe.com. Free registration on the site is optional and allows users to get quotes, personalize your move planner, and create and save letters. The site also offers email alerts and newsletters so you won’t forget to do anything you may have missed, including a strict privacy policy that guarantees the site will not sell your personal data or send spam messages. The site ...

PKey Newsbr•nbsp;The World Bank on Tuesday cut its growth forecast for China next year to 7.5 per cent, the slowest rate of expansion since 1990, and said the impact of the global financial crisis was likely to “intensify”. (FT)br•nbsp;[UK] Prime Minister Gordon Brown swept aside three decades of economic orthodoxy with tax increases on the rich and plans that will double Britain’s national debt./P PKey Reports Due (WSJ):br7:45a.m. ICSC Chain Store Sales Index For Nov 22: Previous: +0.3%. br8:30a.m. 3Q Preliminary GDP: Previous: -0.3%. br8:30a.m. 3Q Preliminary Corporate Profits: Previous: -0.4%. br8:55a.m. Redbook Retail Sales Index For Nov 22: Previous: -1.1%. br9:00a.m. Sep SP/Case Shiller Home Price Index: Previous: -17.7%. br10:00a.m. Nov Conference Board Consumer Confidence: Expected: 38.5. Previous: 38.0 br10:00a.m. Nov Richmond Fed Mfg Survey: Previous: -26. br10:30a.m. Nov Dallas Fed Mfg Production Index: Previous: -13.7. br5:00p.m. ABC/Wash Post Consumer Conf For Nov 22: Previous: -52. brnbsp;/P PQuotable brThe government is ...

Now this is a very interesting question, isn't it? The only honest answer I can give is that I don't know, and indeed I haven't the faintest idea. The government of Latvia (the Baltic state which is currently most rife with "rumours" about imminent devaluations) works in its own wondrous ways, and neither we (nor Latvia's citizens) have any idea at all how they plan to lift their country out of the deepest depression they have experienced in many a long year.br /br /a href="http://4.bp.blogspot.com/_ngczZkrw340/SRQ9-7COE2I/AAAAAAAALWc/3VxjefQe-0s/s1600-h/latvia+GDP.png"img id="BLOGGER_PHOTO_ID_5265902015511139170" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 320px; CURSOR: hand; HEIGHT: 200px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/_ngczZkrw340/SRQ9-7COE2I/AAAAAAAALWc/3VxjefQe-0s/s320/latvia+GDP.png" border="0" //abr /br /What I do know is that, economically speaking,the present situation is simply unsustainable, and something is going to have to be done. Indeed the country's government is in talks with both the IMF and the EU Commission about this very topic as I write. My ...

At yesterdays experts' seminar on the impact and opportunities of the global financial crisis on the Kenyan economy the Central Bank Governor, Prof Njuguna Ndung'u stated that "it is upto the banks to decide how much capital they require". The feeling was that, as Equity Bank, Kenya Commercial Bank, Diamond Trust and Fina Bank are all expanding branches, they must have adequate capital.br /br /Overall, the seminar felt that the direct impact of the financial crisis on Kenya would be volatility in the exchange rate, lower exports (horticulture).

Until 1990, gambling in Mississippi was not permitted. Now it is a major source of revenue for the state and an attractive tourist attraction. Following are some interesting facts about Mississippi:1. 25% of total employment is generated by the agriculture industry.2. Mississippi most important agricultural products are poultry and eggs, forestry, soybeans and corn.3. The state offers different business incentives to new businesses and businesses relocating to Mississippi. They include tax credits, and tax exemptions.4. The top manufactured products are processed foods, beverages, dairy and grain products.5. Between 2004 and 2005 Mississippi’s export increased by 26% to achieve a record $4 billion.6. Mississippi’s top export are chemical products.7. Manufacturing firms employ 172,000 workers in the state.8. Mississippi’s oil reserves rank it number 13 out of 50 states, with 167 million barrels of oil.9. Mississippi has the ...