by Allan Stevo
The Velvet Revolution, a victory of the people, a victory of the individual, took place on November 17, 1989 when a relatively small group of people in Czechoslovakia put events in motion that could not be stopped. They brought an end to communist rule of their lands, and by the end of the year, a dissident — Vaclav Havel — imprisoned many times by the regime would sit in Prague Castle. At the same time, a beloved reformer — Alexander Dubcek — long ago chased from power by the Soviets, and relegated literally to the backwoods of Bratislava, would be chairman of the federal legislature. Many small victories for the people continue to take place every day in the lives of millions of Slovaks and Czechs as they exert their wills freely over their own individual lives.
Moreover, in 1989, the people of Czechoslovakia took a decisive step away from the nanny state: a state that sought to control all aspects of life.
Continue Reading at Mises.org…
WTI Intermediate trading at lowest since May 2010
by Eric Yep
Oil futures traded near a four-and-a-half year low on Friday, with prices crushed after the Organization of the Petroleum Exporting Countries decided not to cut oil production quota to help boost oil prices.
Nymex West Texas Intermediate crude has fallen below the $70 level and was trading at its lowest since May 2010, and Brent crude, the global oil benchmark, was at its lowest since August 24, 2010.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in January traded at $69.08 a barrel, down $4.61 in the Globex electronic session. January Brent crude on London’s ICE Futures exchange was trying to stage some gains, up 49 cents, or 0.7%, to $73.06 a barrel.
Continue Reading at MarketWatch.com…
by Mark O’Byrne
The Dutch and German governments were preparing emergency plans for a return to their national currencies at the height of the euro crisis it has emerged. These plans remain in place.
[...] The Dutch finance ministry prepared for a scenario in which the Netherlands could return to its former currency – the guilder. They hosted meetings with a team of legal, economic and foreign affairs experts to discuss the possibility of returning to the Dutch guilder in early 2012.
The Dutch finance minister during the period has confirmed that Germany also discussed such scenarios.
Continue Reading at GoldGore.com…
from Russia Today
The financial crisis in Europe is prompting some nations to repatriate their gold reserves to national vaults. The Netherlands has moved $5 billion worth of gold from New York, and some are calling for similar action from France, Switzerland, and Germany.
An unmatched pace of money printing by major central banks has boosted concerns in European countries over the safety of their gold reserves abroad.
The Dutch central bank – De Nederlandsche Bank – was one of the latest to make the move. The bank announced last Friday that it moved a fifth of its total 612.5-metric-ton gold reserve from New York to Amsterdam earlier in November.
Continue Reading at RT.com…
by Paul Gordon
The euro area’s fragile economy combined with investors’ hunt for higher returns poses a renewed threat to the region’s financial system, according to the European Central Bank.
“Systemic stress among euro area banks and sovereigns declined further to levels last seen before the onset of the global financial crisis in 2007,” the ECB said in its Financial Stability Review published today. “The economic recovery nonetheless remains weak, fragile and uneven -– and could potentially reinforce financial-stability risks against a backdrop of a global search for yield.”
A series of unprecedented stimulus measures by the ECB to stave off deflation in the 18-nation currency bloc have sent bond yields to record lows and pushed stock valuations higher.
Continue Reading at Bloomberg.com…
by Alasdair Macleod
Alternatively, watching paint dry. That’s how it has felt this week with gold’s volatility slowing to a crawl ahead of Thanksgiving yesterday and the Swiss gold referendum on Monday.
However, Open Interest1 on Comex2 , has suddenly collapsed for both gold and silver, indicating something interesting is going on.
[...] At the same time, the gold forward rate in London (GOFO) has gone sharply negative to -0.4% as shown in the next chart, from the LBMA.
Continue Reading at GoldMoney.com…
from The Daily Bell
According to the [book], the company provides FBI and CIA with unfettered access to users’ e-mails … Wikileaks founder Julian Assange in his book planned to be out on December 1 reveals that Google in fact works for the US State Department, as reported by the Spanish Publico.es web edition. – Tass
Dominant Social Theme: Google and Facebook represent the best of US capitalism and innovation.
Free-Market Analysis: This report from the Russian news agency Tass (via Spanish Publico) might be easily dismissed; but for several reasons it is likely not.
First, the report is not firsthand but apparently is part of a book being written by WikiLeaks’s Julian Assange.
Second, we’ve reported on Google’s “secret” intel facility numerous times over the past years, so it’s no surprise to us.
Continue Reading at TheDailyBell.com…
‘Save Our Swiss Gold’ referendum is a primordial scream against a world of quantitative easing but would paralyze the Swiss National bank
by Ambrose Evans-Pritchard
Five million Swiss voters will decide on Sunday whether to force the Swiss National Bank to repatriate all its gold from vaults in Britain and Canada, boost its holdings of bullion to 20pc of foreign reserves and then keep the metal forever.
The “Save Our Swiss Gold” referendum is a valiant attempt by Switzerland’s army of gold bugs – and the populist Swiss People’s party (SVP) – to lead the world back to the halcyon days of the international Gold Standard. It is a primordial scream against a quantitative easing and money creation a l’outrance by the leading central banks.
Yet there is a snag. The Swiss National Bank (SNB) is the biggest printer of them all in relative terms, far outstripping the Bank of Japan, let alone the US Federal Reserve or the Bank of England – mere amateurs at this game.
Continue Reading at Telegraph.co.uk…
by Llewellyn H. Rockwell, Jr.
Do We Need a Predatory Overlord?
Brian Wilson talks to Lew Rockwell about the State.
November 26, 2014
Click Here to Listen to the Audio
Continue Reading at LewRockwell.com…