Not many events these days surprise us anymore. The amount of shock required to even provoke a "wow" is increasing on a daily basis. Call it desensitizing. Whatever the case, we are surprised that it has taken China this long to realize that fiat money is, well, worthless and today's warning by China that the U.S. is playing with fire when it jests about defaulting on its debt is surprising. Does it really matter if it's monopoly money though?
Also of interest to those keeping tabs on the growing global financial crisis is a German ratings agency downgrade of US debt already last month, but is just now making headlines. We can expect to see more tit-for-tat downgrades in the coming weeks as everyone has at least one finger to point when the SHTF.
Perhaps this is why U.S. land is being sold to China now. An Idaho newspaper is reporting that China plans to build a 50 square mile city in Idaho and that their scouts are looking at other places as well in the US. This should be a giant flashing warning sign to every
Of course, corruption is rampant and worldwide. A popular Indian newspaper is reporting that a leading Yoga Guru is leading the fight against corruption in India. This could be a major event to watch as a nation with 1 billion people erupts into [enter whatever word you wish].
In Greece, a similar problem has been occurring for decades among the wealthy who hide their money offshore and don't pay taxes while the rest of the country sinks into the mire and requires weekly bailouts. Even Obama is warning that a "Greek default would be disastrous," and when he says it, it's got to be true. You know, like yesterday, when he said the 'U.S. economy is still recovering.' Recovering from what, exactly?
Reading between the lines, Obama's statement about Greece was simply code for "the U.S. is sending money to Greece." In the meantime, the markets didn't buy it - Greek CDS spreads exploded to a new record; meaning Greece has slipped into a coma and they're prepping the morgue - the JP Morgue - to be exact. Worse still, bailout number 2 is looking like it's DOA. Fire up the crematory.
Speaking of death, in Japan, the people are getting pretty angry about the gov't lies and cover-ups on Fukushima, as higher and high radiation levels are popping up everywhere. Now, the parents are taking action. And you know it is really, really bad when this guy says so! Yes folks, the President of Iran, the man who is in the hot seat over nuclear power himself, says the "International Atomic Energy Agency (IAEA) report on the Fukushima nuclear disaster in Japan is a whitewash." Arnie Gundersen has been saying this since the report was released.
Finally, we reported early yesterday, well before the MSM even knew about it, a major solar eruption (CME) which is partially earth directed and set to disrupt communications here on earth, as this article in the U.K. Daily Mail reports. Certainly, this would just be another typical solar storm if the serious and highly scientific Germans didn't report it. However, according to my sources, it's all over the news in Deutschland, including here and here, making this the one to watch. At least, until the next big one. In the meantime, we're keeping our eyes open for any unusual seismic activity here on earth possibly related to this CME, at which point, we can submit our findings to Dr. Michio Kaku and get our 15 minutes of fame on the Science Channel. Just joking, but we will give Dr. Deficit a heads up so he can get the inkjets warmed up.