This episode of The Invisible Hand features my recent interview with Delia Lopez, the Republican Party nominee for US Congressional District 3 in Oregon, which includes Portland. Delia is a libertarian Ron Paul-style “small r republican” who supports states’ rights, ending the Federal Reserve, pulling back from global empire, legalizing cannabis, and freeing domestic food production from the death grips of both the federal government and corporate monopolies.
Also, here are some of the news stories included in this edition of the podcast:
- The mainstream media is now fully awoken to the fact that the oil disaster in the Gulf of Mexico is way more than just a single leak. BP now says they’ll have the leak down to “a relative trickle” in a few days through the construction of relief wells. But now Senator Bill Nelson of Florida, fueled by reports from scientists, has suggested that the well casing underneath the ocean floor may have ruptured, in one or several other places, and that oil is leaking through the sea bed. This would explain at least partially the gigantic, several miles long underwater oil plumes that have formed which don’t appear to be issuing directly from the known leak site. Last week, anonymous sources cited as “BP officials” were quoted by the Washington Post as saying that the ruptures were discovered during Top Kill, the recent attempt to plug the leak with mud. The quote read:
“We discovered things that were broken in the subsurface, and that the mud being pushed into the well to prevent oil from coming out was making it out to the side…”
There is now a fear that any additional attempts to plug the well will create too much pressure underneath and cause a “underground blowout,” which would lead to what oil industry expert Bob Cavnar calls “uncontrolled flow to the sea floor … the doomsday scenario.” In a way, this may explain what some commentators have noted, which is BP’s desire to come up with solutions that keep the oil flowing rather than capping it. While it has been suggested that this is because they want to make the best of their investment so that they can continue selling oil from it, which only makes sense, it may also be that capping it would cause a blowout, or at the very least just cause the oil to come out from the other leak points in greater quantity. Here’s Cavnar on Countdown with Keith Olbermann explaining the danger.
Ben Bernanke is reportedly confused about the recent surge in the price of gold. The Chairman of the Federal Reserve has presided over an exponential increase in the supply of US dollars throughout the world, and is directly responsible for essentially forcing the federal government to vastly increase its sovereign debt by bailing out failing banks and failing European countries. He has seen the Moody’s credit rating agency threaten to downgrade the US because of our debt to income ratio, and he knows that the US dollar, just like the Euro and several other currencies, is on the brink of total collapse because of this. Yet he claims to not understand the inverse relationship between the price of gold and the value of the dollar, which is directly related to the size of the money supply and our debt to income ratio. Bernanke, who, prior to his appointment as Fed chairman, actually supported a return to the gold standard, is quoted by the Wall Street Journal as saying “I don’t fully understand movements in the gold price.”
Perhaps this is because he didn’t take into account the effect created by recent revelations of gold market manipulation and gold counterfeiting coming from the Gold Anti-Trust Action Committee. This group has accused the US central bank, along with JP Morgan Chase, the International Monetary Fund, and the London Bullion Market Association, of colluding to suppress the price of gold and silver. Stories of vaults of gold-plated tungsten bars and gold sellers leveraging their clients holdings by 100 to 1 (in other words maintaining a fractional reserve of 1 actual gold bar for every 100 sold to gullible clients) has caused gold bugs to demand their bullion in hand. This is causing a dramatic market squeeze and driving up prices at just the wrong time for the Federal Reserve, which relies on gold market suppression to prop up the value of the dollar. Perhaps what Mr. Bernanke is confused about is how quickly the whole scheme is unraveling.
- Japan may be one of the next countries on the brink of economic collapse. The country’s new Prime Minister and former finance minister Naoto Kan was recently quoted by Business Insider as saying that, “As we can see from the eurozone confusion that started in Greece, there is a risk of default if growing public debt is neglected and trust lost in the bond market.”
This follows the patterns set by Greece and Hungary, in which a new government comes into power, immediately announces that the previous administration has run the country’s finances into the ground, and implements strict austerity measures in accordance with dictates laid out by the International Monetary Fund. On Friday, Japan’s banking minister, Shizuka Kamei, who had advocated loose spending and monetary policy, resigned under pressure from the new administration Columbia University professor Gerald Curtis is quoted by the Manila Bulletin Publishing Association as saying, ”It’s a good thing, because Kamei was constantly baiting the prime minister and undermining the authority of the office.” Now Kan will be free to forge ahead with his austerity plans.
The Pentagon is hunting for Wikileaks founder Julian Assange, whom they believe to be in possession of sensitive State Department intraoffice memos about diplomatic relations with Iraq and Afghanistan. The Daily Beast reports that the documents were leaked by Army intelligence specialist Bradley Manning, now in custody in Kuwait. Manning also claims to be the source that leaked the now-infamous video of US soldiers in Iraq fatally shooting Reuters reporters, and the family of civilians who stopped to help them.
Mr. Assange lives a life of international intrigue and mystery, and never stays in one place for very long. His current whereabouts are unknown, but he recently cancelled a speaking engagement at the International Reporters and Editors conference in Las Vegas that was scheduled for Friday June 11th.
Assange has denied possessing the State Department cables. A communique sent out via Assange’s Twitter account recently stated “Any signs of unacceptable behavior by the Pentagon or its agents towards this press will be viewed dimly.” According to the Daily Beast, this was taken by Pentagon officials as a threat to release the documents on Wikileaks if they get too pushy.
- Mysterious sinkholes are appearing all over the nation of China, and it’s scaring people. China’s state-run news agency Xinhua recently ran the headline “Cave-ins found in many areas of China.” The article noted several cases that have occurred over the last year in which large, very deep, and perfectly-circular holes have been formed by a sudden collapse, most recently on Zhejiang Huang Qu Nan Highway on June 4. This follows the recent appearance of similar holes in rice fields and on hill tops, including the sudden collapse of an entire pond into a giant abyss.
Daily Telegraph correspondent Peter Foster noted the similarity between these holes and that which recently swallowed a three-story building in Guatemala at the end of May this year after Tropical Storm Agatha. While the hole in Guatemala was blamed on the storm officially, unofficially many are still puzzled about why it is so large and symmetrical, and the internet is abuzz with talk of HAARP, underground flying saucers, earth changes caused by Planet Nibiru and/or the end of the Mayan calendar, and even the opening of the very gates of Hell.
In his blog post on the Telegraph website, Peter Foster mentioned the sudden appearance of giant craters in the Earth in last year’s disaster movie 2012, in which changes in solar activity cause a pole shift on Earth, leading to major crustal displacement, effectively ending all life on the planet. But in the film, China is the place where a small contingent of specially-chosen elite humans flee to safety in “arks,” built in secret with the cooperation of the world’s governments.