America's Oil Price Inflation Crisis Is Yet To Come - By National Inflation Association (1/7/11) PDF Print E-mail
National Inflation Association   
Friday, 01 July 2011 17:24

NIA is very disturbed by President Obama's decision to sell off oil from the U.S. emergency oil reserve, in an attempt to drive down oil prices. One week ago it was announced that the U.S. and other oil-consuming nations that are a part of the International Energy Agency (IEA) will begin releasing 60 million barrels of oil from their reserves, with 30 million barrels coming from the U.S. government-owned reserve. They hoped that by flooding the market with excess supply, they would cause an artificial forced liquidation of oil futures contract holders who bought using leverage.
 
The U.S. Strategic Petroleum Reserve is the world's largest government-owned stockpile of emergency crude oil reserves and is maintained by the U.S. Department of Energy (DOE). It holds 727 million barrels of oil reserves at four different sites along the Gulf of Mexico. Considering that the U.S. is releasing 30 million barrels of oil from these reserves, we are reducing the size of our emergency reserve by 4.1%.
 



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How the Bailout Killed Local Lending—And How Some States Hope To Bring It Back - By Ellen Brown (1/7/11) PDF Print E-mail
Ellen Brown   
Friday, 01 July 2011 16:52

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When Towns Are Hurting Across The Mighty Usa, How Can Anyone Still Believes In The Fake Recovery Touted By The Mainstream Media And Wall Street? - By 5 Minutes Forecast (1/7/11) PDF Print E-mail
5 Minutes Forecast   
Friday, 01 July 2011 07:37

“We had to do something drastic,” says Jerry Flowers, a city councilman in Alto, Texas.

 “The police department,“ the curiously named Mr. Flowers goes on, ”being a nonmoney-making entity, was the easiest to get rid of while we catch our breath and build up some cash.”

And just like that, Alto did away with its police force.

The chief and his four officers put a padlock on their offices two weeks ago today. They’ll be back in six months, assuming the town’s balance sheet gets the love it needs.



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Uncharacteristically Risky - Money Market Funds No Longer The World’s Safest Investments - By Eric Fry (1/7/11) PDF Print E-mail
Eric Fry   
Friday, 01 July 2011 07:29

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Austerity Engulfs The High Street - Thorntons Joins Growing List Of Casualties In A Week Of Retail Misery That Could Cost 10,000 Jobs - By Richard Wachman (1/7/11) PDF Print E-mail
Richard Wachman   
Friday, 01 July 2011 07:27

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