Spain about to get the IMF Shuffle, again?

As reported by Reuters:
"Spanish Prime Minister Jose Luis Rodriguez Zapatero said on Friday it is very probable the country would have needed a bailout if the government had not implemented its austerity package in May 2010.

For the last five days young people have been staging massive protests across Spain, angry about the austerity measures and rising unemployment, ahead of the May 22 municipal and regional elections."

> The story continues. The EU Zone really was THREE Zones. Western Europe (Germany, France) and the Club Med Countries, and the fringle players.

Now that the drivatives and SIV's are blowing up - you have to wonder how many Banks are going to be left holding the bag.

Greenspan says it : "Ponzi Scheme" - 2005?

By: Silver Shield (*great reportage) -

"I remember watching Alan Greenspan testify to the Senate Banking Committee in 2005 and my mouth hit the floor when I heard it. I have been looking of this clip for years, and could never find it. A friend finally sent it to me and I posted it to my YouTube channel and below in this article. I was just starting my Awakening process in 2005 and this was one of those thunderbolts that really sped up my awareness.

Senator Reed asked the sitting Federal Reserve Chairman Alan Greenspan if he still believed that we should maintain the fundamental principles of Social Security?

“I believe that we should maintain the principles of Social Security, but I think the existing structure is not working. Until we construct a system that creates the savings that are required to build the REAL assets, so that the retirees have REAL goods and services. We don’t have a system that is working. We have one that basically moves cash around and we can guarantee cash benefits as far out and whatever size you like, but we cannot guarantee their purchasing power. Do we have the material goods and services that people will need to consume, not whether or not we pass some hurdle with respect to how legal financing occurs. Financing is a secondary issue and it is a means to create the REAL wealth, not an end into itself.” -Alan Greenspan 2005"

> Haven't you wondered about some of the crazy swings in the Market? What's with the action in Silver and Gold?

All is becoming clearer to me, and men I read and respect.

The jig is up - "The Band has stopped" and now it's "find a chair" time.

Greece, Portugal, Spain, the Club Med Countries, Ireland, Lavia and many other jurisdictions are eating American inflation Breakfast, Lunch and tea time.

Alberta online firms accused of scamming $450 million

"The U.S. Federal Trade Commission has filed a complaint against an Alberta-based "online operation" that has allegedly bilked customers out of nearly half a billion dollars.

In a statement issued earlier this week, the FTC said the complaint centres on 10 online marketing companies controlled by Jesse Willms, a 23-year-old Alberta man.

The FTC has accused those companies of defrauding customers in the U.S., Canada, the United Kingdom, Australia and New Zealand out of more than US$450 million.

That allegation has not been proven in court, and Willms has not faced any charges.

According to the complaint, which was filed May 16, Willms' companies operate a scam in which customers are offered "free" or "risk-free" trials and are then charged for products or services they never agreed to buy.

The free trials, advertised through spam and pop-up ads, were for items such as acai berry weight-loss pills, teeth whiteners, health supplements, free credit reports, access to government grants and a work-at-home plan."

Details:

Putin Makes his Move.

From The Australian:

"RUSSIAN Prime Minister Vladimir Putin has decided to run for the presidency next year, raising the possibility of a power struggle with his protege Dmitry Medvedev, the incumbent Kremlin leader, say highly placed sources.

The once-close relationship between Mr Putin, the tough-talking former KGB officer who has inspired a personality cult, and Mr Medvedev, a softly spoken Twitter enthusiast, has become increasingly fractious amid speculation in Moscow that the younger man wishes to stand again.

Insiders familiar with both leaders said Mr Putin, who served eight years as president before becoming Prime Minister three years ago, had begun to lose confidence in Mr Medvedev's loyalty.

Under the constitution, Mr Putin's move to reclaim the presidency could see him rule for two consecutive six-year terms until 2024, when he will be 72. If so, he would have served as prime minister or president for 24 years in all."

> I have always have had the feeling that Putin and Medvedev had at best an "ambi-relationship".

Now it's in the open.

Let's see how the Russian Markets perform.

Russia has been keeping their noses above water because of Oil income. 

Chapter Three, is now being written.

Details:

The Reality of the Mess we are in.

Over the past ten years, I have been hip deep in watching what is happening on the World Economic front.
I have been lucky enough to interview, meet and talk with some of the most brilliant thinkers on the Planet.
These folks have let me in on a secret.
Things are actually WORSE than you are told.

There, I said it and I show my economic stripes.

I am a self admitted BEAR and have been for about three years.

In the coming months, I will be pulling articles for you, that I believe just might help us servive this horrible DEPRESSION that we are in, and I have some bad news - this downturn is going to last a Generation.

The doomed, fat, sclerotic Boomers best have some cash - because the RE they have thrown their money into is about to be gone.

That aside - there is cause for hope.

Read Garth Turner, John Rubino, visit Howestreet.com and 321gold.com

Stay tuned - I will be posting everyday.

Cheers = and be ready.