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Ron Paul - HR 1207 Gutted

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With most Americans outraged over the behavior of the Federal Reserve and the part it has played in the bailouts of huge institutions in the financial and automotive industries, Ron Paul introduced H.R. 1207, which would have required a full audit of the Federal Reserve and its activities, which crosses international lines.

Canadian Dollar to Reach Parity With US Dollar

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The Canadian economy is growing the US economy is tanking, and the result is by year end a 60% chance of the Canadian Dollar hitting parity with the US according to Bloomberg. Meanwhile Washington is still debating on how to spend even more money.


WSJ - US Debt to hit 100% of GDP in 2011

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WSJ online has a scary article outlining where the economy will be in 2011. Our debt will have risen at that point to at least 100% of our GDP. In their view this will drive more and more investors out of US dollar backed investments.

Goldman Sachs - Risk is Good

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NY Times is reporting that despite claims of reform and tighter controls on the banking system, Goldman Sachs (the Treasury Department's default talent pool) has actually increased its Value at Risk numbers since the beginning of the crisis.

HSBC Bids Farewell to Dollar Supremacy

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The London Telegraph is running a story about how the US dollar is looking alot like the British pound after WWI.

WSJ/BLN - Goldman and JP Gaining Media Ownership

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Back in June Matt Taibbi wrote a scathing article about Goldman Sachs and how they were the major beneficiaries (if not architects) of America's Financial Woes. Numerous other media sources such as the WSJ and CNN have also been critical of Goldman, and to a lesser extent JP Morgan. That Tarnished media image may be about to change as these two lenders find themselves in possession of larger and larger stakes of media outlets due to debt restructuring and defaults.

US to Hit Debt Ceiling Again

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From CNN Money via Blacklisted News

WSJ - Stocks higher as Bernake Pronounces Recession over

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Link HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

50% of Mortgages Underwater By End of Next Year

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While listening to Meet the Press yesterday a scary statistic was thrown out that 50% of the mortgages in the country would be underwater by the end of next year. Doing a little digging found that Karen Weaver of Deutsche Bank published this in a report issues last week. An underwater mortgage is a loan whose principle exceeds the property value which it was borrowed on.

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