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Nullification and "A Few Good Men"

Nullification and "A Few Good Men" | Breaking News from S.E.R.C.E | Scoop.it
I’ve been writing about nullification for years. Nullification, in short, is the principle that any law passed without proper authority is not a valid law and is not enforceable on the people. In the US, the Constitution carefully defines the authority the federal government and acknowledges that whatever powers were not delegated expressly to the government are reserved by the states. Article VI, Section 2 (the Supremacy Clause) states that the Constitution and all laws passed in pursuance to it are supreme law.  The reverse is therefore implied and true – that all laws NOT passed in pursuance to powers delegated by the Constitution are not supreme. The states therefore have no obligation to recognize or enforce them.
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Breaking News from S.E.R.C.E
Breaking News from S.E.R.C.E
EWT's Social & Economically Relevant Curatorial Exchange
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What is the Value and Purpose of Sharing?

What is the Value and Purpose of Sharing? | Breaking News from S.E.R.C.E | Scoop.it
In the history of humankind, with the possible exception of the Gutenberg Press, there has not been a more disruptive advance in…
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Uneasy Dawn in Davos as Elite Sacrifices Its Own

Uneasy Dawn in Davos as Elite Sacrifices Its Own | Breaking News from S.E.R.C.E | Scoop.it
The big brains gathered in Davos are mostly successful in material terms and powerful from the standpoint of our modern economic system. But in the early 21st century, these attributes may prove ephemeral. And thats probably the reason for the gloom that is being reported in the mainstream media. Also, since its being widely reported, it could be that mainstream media types are anticipating something worse and the Davos reports are a kind of pump-priming. Youve been warned. Heres more
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Seven Central Banks Take Anti-Deflationary Actions in Past Week

Seven Central Banks Take Anti-Deflationary Actions in Past Week | Breaking News from S.E.R.C.E | Scoop.it
The big story this week has not been news coming out of the widely covered World Economic Forum in Davos or the much anticipated bond-buying program in Europe known as QE. The big story is the sheer number of central banks moving into panic mode in the span of a week.
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The Shadow of Tomorrow

The Shadow of Tomorrow | Breaking News from S.E.R.C.E | Scoop.it
When President Obama stated last night in his State of the Union Address that the “shadow of crisis has passed” it perfectly set the stage for the next phase of the CSI, or Cultural and Socioeconomic Interception.  The CSI is a prolonged and multi-scripted methodology which is implemented over years and decades to engineer specific adjustments to the collective awareness of  mass populations.
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Why Are Central Bankers Surprised by Monetary Disasters?

Why Are Central Bankers Surprised by Monetary Disasters? | Breaking News from S.E.R.C.E | Scoop.it
Central bank prophet fears QE warfare pushing world financial system out of control ... Former BIS chief economist warns that QE in Europe is doomed to failure and may draw the region into deeper difficulties ... The warnings come just as the European Central Bank prepares a blitz of bond purchases at a crucial meeting on Thursday. – UK Telegraph
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Tuomas Kovalainen's curator insight, January 23, 4:17 PM

On jokseenkin ylimitoitettua sanoa, että setelirahoituksen käynnistäminen olisi moraalitonta, koska kasvun ollessa alamaissa ja poliitikkojen ollessa toimettomia täytyy keskuspankkiirien yrittää tehdä jotain auttaakseen.

     On aina ikävää väittää asiantuntijaa vastaan mutta en usko, että setelirahoituksen vaikutukset olisivat niin karmivat kuin hän sanoo. Varsinkin Japani on ottanut aggressiivisen setelirahoituksen yhdeksi uuden talousohjelmansa nuolenkärjistä, se kärvistelee yhä deflaation kourissa. Hyperinflaatiota ei siis ole vielä näkyvissä. Oikea uhka sen sijaan todellakin on mahdolliset kuplat pörssi- ja asuntomarkkinoilla. Rahan lisääntyminen markkinoilla, kun ei tosiaan aina päädy toivotusti lainoina yrityksille vaan tyhjäksi ilmaksi osakkeiden arvoihin.

      Etuna setelirahoituksesta on myös kriisimaiden pohjissa olevat korot, jotka lievittävät huonosti talouttaan hoitaneiden maiden ahdinkoa. Huolena tietysti on, että alhaiset korot laskevat motivaatiota tehdä tarpeellisia uudistuksia, mikä olisi erikoista koska kriisimaissakin pitäisi tietää, että ongelmat täytyy joka tapauksessa ratkaista.

      Setelirahoituksen ongelmaksi mainittiin EU:n yritysten olevan pääosin pieni- ja keskikokoisia, jotka eivät hae lainojaan markkinoilta, vaan suoraan pankeilta. On kuitenkin toivoa, että osakkeiden kallistuessa ja valtionvelan korkojen painuessa alaspäin pankit sittenkin harkitsisivat lainaavansa myös yrityksille.

       Lopuksi täytyy rehellisesti sanoa, että vaikka kyseinen toimenpide onnistuisikin, on aina mukavampaa kuulla onnistuneista toimista reaalitalouden puolella. Rahapolitiikka, kun aina joskus vaikuttaa taikatempunomaiselta, vaikka hyödyllistä onkin.

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Let’s Secede from the American Monetary Union

Let’s Secede from the American Monetary Union | Breaking News from S.E.R.C.E | Scoop.it
The Swiss central bank’s recent move to de-peg the Swiss franc from the euro reminds us of the importance of choice in currency.
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Shocks Hit Stock, Currency and Commodity Markets

Shocks Hit Stock, Currency and Commodity Markets | Breaking News from S.E.R.C.E | Scoop.it
U.S. stock and bond markets are closed today in honor of Martin Luther King, Jr. but market turbulence continues around the world.

Last night the Shanghai Composite stock market index plunged 7.7 percent after the China Securities Regulatory Commission announced a crackdown on the margin lending operations of the country’s three largest brokerage firms. The firms were given a three-month ban on opening new margin accounts. According to the regulator, the brokerages had been failing to reassess risk before extending margin loans beyond a six-month term.
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In Praise Of Price Discovery-----The Market Is Off Its Lithium

In Praise Of Price Discovery-----The Market Is Off Its Lithium | Breaking News from S.E.R.C.E | Scoop.it
This morning’s market is more erratic than Claire Danes off her lithium. Gold is soaring, the euro’s plunging, US treasury yields are in free fall, junk bonds are faltering, copper is bouncing, oil has rolled over, the Russell 2000 momos are getting mauled, the swissie has shot the moon, the Dow is knee-jerking down, correlations are failing……and the robo traders are flat-out lost.
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Silver: Short-Term Trend Turns Upward

Silver: Short-Term Trend Turns Upward | Breaking News from S.E.R.C.E | Scoop.it

For now, on a short-term basis, the dollar-price of silver has reversed to the upside. 

With higher highs and higher lows quantifying the base definition of an upward trend, silvers price action from its recent print low at $14.10 certainly fits the bill.

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Ukraine Lurches to Full Scale War as Russia Drastically Reduces Gas Supply to EU

Ukraine Lurches to Full Scale War as Russia Drastically Reduces Gas Supply to EU | Breaking News from S.E.R.C.E | Scoop.it
Submitted by Mark O’Byrne  –  GoldCore Vladimir Putin has ordered the Russian state energy giant Gazprom to cut natural gas supplies to and through Ukraine to the EU in a little reported move. It t...
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End of Central Bank Power - Swiss Fold

End of Central Bank Power - Swiss Fold | Breaking News from S.E.R.C.E | Scoop.it
Anyone who continues to believes in the all powerful CB after today is a fool.
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The Perfect Storm for Wall Street Banks

The Perfect Storm for Wall Street Banks | Breaking News from S.E.R.C.E | Scoop.it
JPMorgan Chase reported 2014 fourth quarter earnings this morning, missing analyst estimates. Analysts had expected $1.31 per share while the actual number came in at $1.19. Listening to the conference call this morning, there was the impression that the $1.19 would have been worse had the bank not released loan loss reserves in a number of business areas.
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Blowing Up Modern Austrian Economics ... in a Good Way

Blowing Up Modern Austrian Economics ... in a Good Way | Breaking News from S.E.R.C.E | Scoop.it
Gold coins are the most marketable instruments known to man. Its holder can trade on the best terms possible. Gold bills are the second most marketable instruments. Demand for them is virtually unlimited. Banks overflowing with gold coins scramble to expel them in exchange for real bills, the best earning asset a commercial bank can have. If you bought a house in the 19th century, you would not accumulate gold coins in anticipation of paying the purchase price on closing day. You accumulated
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Great interview: The extensive comment thread is also worth perusing...

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Will Gold Be Part Of A New International Monetary System?

Will Gold Be Part Of A New International Monetary System? | Breaking News from S.E.R.C.E | Scoop.it
In our currently highly unstable economic environment the price of gold is relatively low - according to gold proponents like me. In addition, we can see...
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How Greek Default May Still Unravel the EU

How Greek Default May Still Unravel the EU | Breaking News from S.E.R.C.E | Scoop.it
Greece is back in the headlines. This should be surprise no one. It was naïve to think that Greeks would accept being debt slaves forever.
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Tuomas Kovalainen's curator insight, January 23, 4:01 PM

Voi olla, että katastrofi seuraa Syrizan nousua Kreikan johtoon mutta todennäköisempää on, että molemmat osapuolet tekevät kompromissejä eikä kriisiä synny. Jokainen radikaalipuolue valtaan päästyään liikkuu kohti keskustaa, niin tehnee myös Syriza.

   Jokaisen euromaan täytyy tehdä rakenteellisia uudistuksia pysyäkseen kilpailukykyisenä niin Kreikan kuin Saksan kaltaisten maiden. Kreikan velkataakka on kasvanut kestämättömäksi, eikä minua henkilökohtaisesti harmittaisi, vaikka Kreikalle annettuja tukia ei saataisikaan takaisin, kunhan Kreikka pääsisi jaloilleen romauttamatta artikkelissa mainittuja Italian, Ranskan ja Espanjan talouksia ja Euroopan maat pääsisivät viimein jaloilleen.

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Fracking — A New Bubble for a New Year

Fracking — A New Bubble for a New Year | Breaking News from S.E.R.C.E | Scoop.it
Another year is under way, and we are in the midst of yet another central bank-induced credit bubble. This time, the culprit is shaping up to be the oil and gas industry.
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Has Gold Been Manipulated for China's Benefit?

Has Gold Been Manipulated for China's Benefit? | Breaking News from S.E.R.C.E | Scoop.it
The Fix is In: Why Gold Price Manipulation is Now a Global Effort ... A lot of people think about gold as a percentage of total reserves. So countries have reserves. What percentage of your reserves consist of gold? For example, a lot of people are surprised to learn that the United States has 70 percent of its reserves in gold. China has about 1 percent of its reserves in gold. So people look at that and think that's the imbalance. But that's not a very meaningful figure in my view ... So the price is being suppressed until China gets the gold that they need. Once China gets the right amount of gold, then you can take the cap off. If it doesn't matter where gold is because all the countries will be in the same boat. But, right now, they're not, so Chinese has this catch-up. – Jim Rickards/Daily Reckoning
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The Gears Are Grinding Down

The Gears Are Grinding Down | Breaking News from S.E.R.C.E | Scoop.it
It has become common knowledge in the mining industry here in Canada that the large oil companies began holding strategy sessions over a year ago to address this downturn in the market.  The “sustainable cost reduction strategies” were slow in coming at first but are now being developed and implemented from one day to the next.
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Can You Just Surrender In A Currency War?

Can You Just Surrender In A Currency War? | Breaking News from S.E.R.C.E | Scoop.it
Switzerland, as everyone knows by now, has slipped out the back door of the drunken orgy that is the modern financial system. And the other revelers are wondering if it’s time to find their own clothes and start tiptoeing towards
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Tuomas Kovalainen's curator insight, January 23, 4:33 PM

Frangin arvonnoususta koituneet tappiot ovat käsittämättömiä. Vaikka on odotettavaa, että hedge-rahastot ja investointipankit kävisivät kauppaa frangilla odottamatta tämän kaltaista nousukiitoa, ei ole kauhean fiksua ottaa lainoja ulkomaisella valuutalla, sillä ilmeisesti seesteisilläkin valuuttamarkkinoilla voi tapahtua yllätyksiä.

    On mielenkiintoista nähdä miten Sveitsi pärjää sen valuutan arvon noustua huimasti. Oikein hinnoitellulla valuutalla on hyvät puolensa mutta Sveitsiläisille vientiyrityksille koituneet ongelmat ovat varteenotettavia.

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Making Swiss Cheese Of The Euro?

Making Swiss Cheese Of The Euro? | Breaking News from S.E.R.C.E | Scoop.it
In the otherwise forgettable movie Cocktail, when Tom Cruise’s character Brian Flanagan abruptly splits with his date Bonnie, she pleads with him not to let their relationship end badly. He replies “everything ends badly: otherwise it wouldn’t end.”
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Mid-Term Outlook: January, 2015

Mid-Term Outlook: January, 2015 | Breaking News from S.E.R.C.E | Scoop.it
Have the equity markets finally peaked? In our view, they should have never carried on as they have - but with psychopaths at the helm of the financial sphere, you just never know what the future will bring. 

It’s been a long, long time since financial markets have actually reflected what’s taking place in mainstream economies, and as such, it’s been a similarly long time since we've even bothered to try and correlate the two.
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CAT to Follow Crude to $40.00?

CAT to Follow Crude to $40.00? | Breaking News from S.E.R.C.E | Scoop.it
Is it reasonable to assume that so goes Crude Oil, so goes Caterpillar? Perhaps it is, or perhaps not, but the price charts of these two economic giants do show a fair degree of correlation. 

Some Motley Fools I know think there may be some fundamental correlations as well.
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The Fed & SDR Denominated Derivatives

The Fed & SDR Denominated Derivatives | Breaking News from S.E.R.C.E | Scoop.it
Many for so long have proclaimed the end of the dollar and a collapse of the USD system. Though the dollar will be adjusted downward at some point in the initial implementation of a multilateral sy...
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The Fed: Reality Trumps Rhetoric

The Fed: Reality Trumps Rhetoric | Breaking News from S.E.R.C.E | Scoop.it
Throughout the existence of the Fed, its officers and intellectual supporters understandably asserted that the government’s movement toward central banking was a most beneficial evolution. In a 1948 issue of The Federal Reserve Bulletin, for example, Fed Chairman Thomas B. McCabe asserted that money production could not manage itself, so we need a central bank such as the Fed that acts for the public interest. Nearly three decades later, the venerable Arthur Burns claimed that the basic assets of the Fed are concern for the general welfare, moral integrity, respect for tested knowledge, and independence of thought.
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A World Without (Big) Banks, Part II

A World Without (Big) Banks, Part II | Breaking News from S.E.R.C.E | Scoop.it
In the first half of this piece, readers were subjected to an exposition on the status quo. We revisited the preposterous paradigm of “too big to fail”, where a Crime Syndicate of private sector mega-banks pronounced themselves so “systemically important” that (supposedly) we could not live without them.
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Oxford University Press Book Repeats the Lie About Lehman Brothers

Oxford University Press Book Repeats the Lie About Lehman Brothers | Breaking News from S.E.R.C.E | Scoop.it
Amazon.com has the book listed as the number 1 bestseller in public policy. The book is published by Oxford University Press, which wants you to know that it’s a department at the University of Oxford, furthering the University’s “objective of excellence in research…” Professor Eichengreen thanks no less than 39 academics whom he consulted on the manuscript or were helpful in some other way to his writing.

Sadly, neither Professor Eichengreen nor his fellow academics caught this fatal flaw in the book:

“Lehman was not a commercial bank; it did not take deposits. It was thus possible to imagine that its failure might not precipitate a run on other banks like the runs triggered by Henry Ford’s Guardian Group of banks in 1933.”

Lehman owned two FDIC insured banks. It did take FDIC insured deposits and it massively sold FDIC-insured Certificates of Deposit to moms and pops around the country through other broker-dealers, frequently seducing customers with a little higher yield than its competitors in the brokered-CD market.

The gravitas of the Lehman Lie is that it has now traveled from the pages of the New York Times to the President of the United States to the pen of Nobel Laureate Paul Krugman. The Lehman Lie matters greatly because it is the primary argument against reinstating the Glass-Steagall Act – the only means of saving the country from a repeat of 2008; an eventuality that is edging closer by the day.
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