“As is by now well known, it was the British refusal to budge and thus agree to the fiscal compact from the December 9th summit, that led to the realization that the European bailout is now further away than ever before. And as reported earlier, tomorrow European finance ministers will sit down to finalize the terms of a €200 billion IMF injection, funded by various European governments, which is the last ditch rescue effort now that the EFSF and ESM have both failed to convince the market of a long-term solution. Enter Britain. Again. Because as the Telegraph reports, it will be up to Britain to fund not just any portion of the upcoming €200 billion payment, but the second largest one, a commitment which David Cameron and the majority of Britain will likely balk at. “Figures suggest European Union officials expect British taxpayers to be the second largest contributor. The Prime Minister has repeatedly promised not to provide any extra funding for the IMF for the specific purpose of saving the euro and Britain is already liable for £12 billion of loans and guarantees to Ireland, Greece and Portugal…An EU official said Britain was still expected to contribute €30.9 billion (£25.9 billion), leaving the country as the second biggest contributor to the new IMF fund behind Germany and equal with France.” “
Via Zero Hedge
“This year has been for most people a terrible, sucky, bad year for personal financial statements. The reasons are pretty simple: stocks have been hard to pick, gold and silver have given up most of their gains, and this coming week (December 21st) the National Association of Realtors will update housing prices going all the way back to 2007 because of apparent over-reporting of sales.
Sources tell us that it hasn’t been uncommon for people counting deeds in courthouses in different areas of the country to count things like foreclosures as sales, since training on number-gathering does take some attention to details.
The first part of this article is a bit “numbers intensive” but hang in there, the results are important.”
Via Activist Post
Trustee to Seize and Liquidate Even the Stored Customer Gold and Silver Bullion From MF Global
“The bottom line is that apparently some warehouses and bullion dealers are not a safe place to store your gold and silver, even if you hold a specific warehouse receipt. In an oligarchy, private ownership is merely a concept, subject to interpretation and confiscation.
Although the details and the individual perpetrators are yet to be disclosed, what is now painfully clear is that the CFTC and CME regulated futures system is defaulting on its obligations. This did not even happen in the big failures like Lehman and Bear Sterns in which the customer accounts were kept whole and transferred before the liquidation process.
Obviously holding unallocated gold and silver in a fractional reserve scheme is subject to much more counterparty risk than many might have previously admitted. If a major bullion bank were to declare bankruptcy or a major exchange a default, how would it affect you? Do you think your property claims would be protected based on what you have seen this year?”
With More Vacation Days and Separate Travel, Price of Obama’s Annual Hawaiian Holiday Rises
“The U.S. Secret Service has arrived, street barricades are in place, and the U.S. Coast Guard has stationed itself in the waters surrounding Kailua, Oahu. That is a sure sign President Barack Obama’s security team is preparing for the first family to arrive in the small beachside community as early as Friday night for what is expected to be a 17-day vacation.
The President and his family are traveling separately to Hawaii because he wants resolve the payroll tax cut issue before leaving Washington – and his wife does not want to wait.
But the advanced trip and the cost that comes with it – as much as $100,000 (flight and security) – adds to an already expensive vacation for the taxpayers.
Hawaii Reporter research shows the total cost for the President’s visit for taxpayers far exceeded $1.5 million in 2010 – but is even more costly this year because he extended his vacation by three days and the cost for Air Force One travel has jumped since last assessed in 2000. In addition, Hawaii Reporter was able to obtain more specifics about the executive expenditures.
The total cost (based on what is known) for the 17-day vacation roundtrip vacation to Hawaii for the President, his family and staff has climbed to more than $4 million. Here’s why.”
Via Hawaii Reporter
obama shared sacrifice….if we all just sacrifice a little more he and his family can have an awesome vacation
Celente Warns of 2012: Economy Will Crash, Banks Will Close, Chaos Will Ensue, Military Will Take Over
“If you’ve followed trend forecaster Gerald Celente for any period of time you’ve probably realized he knows what he’s talking about. For the better part of two decades Celente and his Trends Journal have been forecasting political, financial, economic and social trends with an uncanny ability for accuracy.
In his latest interview Celente discusses a variety of different topics – from Iran and Europe to domestic militarization and the economy – and warns that our worst fears will soon be realized.
Bottom line? You ain’t seen nothin’ yet:”
Via SHTF Plan
“Biotechnology giant Monsanto has been the leader in genetically modifying the planet, altering the genetic structure of crops and seeds that are consumed by individuals around the globe. Scientific research has found that GM crops and herbicides are not only leading to a number of health disorders, but they are also spawning mutated species of insects and powerful superweeds. This is only a couple of the ways that Monsanto continues to recklessly endanger human health and the environment — here are the complete 4.”
Via Natural News