Headline Report for Oct. 30, 2010

The top news long-term, continues to be the following ISSUES:

    * Financial Crisis

    * Cultural War (between the left and right)

    * ObamaCare

    * Global War on Terror

Short-term top news centers on the following EVENTS:

·      Final jockeying for election day Nov. 2

·      Life’s Rich Pageant

Financial Crisis: An extremely interesting article was published yesterday by Reuters about a National Bureau of Economic Research paper claiming “France was ‘somewhat more’ to blame than the United States for the worldwide deflation of 1929-33 and that the deflation could have been avoided if central banks had simply maintained things as they were in 1928” (Was France at fault for The Great Depression?). Since the world is currently using fiat currencies the lesson from the study is gold is now a trailing, not leading, indicator.

Combine gold’s Friday close ($1,357.10/ounce) with John Hathaway’s observation in a Thursday Bloomberg News Service commentary “The world’s monetary system is in the process of melting down” (Gold Will Outlive Dollar Once Slaughter Comes). “The only questions are how long the denouement of the dollar reserve system will last, and how much more damage will be inflicted by new rounds of quantitative easing or more radical monetary measures to prop up the system.”

Considering the world is already moving away from the dollar and Wall Street (U.S. financial dominance), with China, Russia and India actively pushing away (Medvedev Shows Off Sample Coin of New ‘World Currency’ at G-8, World currency unit intended to rival U.S. dollar for supremacy, 420 banks demand 1-world currency, World gripped by 'international currency war', China Raises Rates, Jolting World Markets, Administration delays China currency report, Dollar struggles as world seeks to avoid 'currency war', Gold hits record high on India purchase, Indians go on 'gold-buying blitz', Meet the 'father of world currency'), we postulate less, not more, time before denouement. Bottom line: gold may seem expensive now relative to 3 years ago, but it will be ‘dirt cheap’ once the dollar dies.

A Wall Street Journal article today demonstrates the breadth of foreclosure fraud versus ‘faulty paperwork’ as Big Banks Told Not to 'Fix' a Fraud. The Ohio Attorney General’s letters suggest the fraud will take him weeks to collect—for just one state.

The politician double-speak has reached epic proportions. Consider Debt Has Increased $5 Trillion Since Speaker Pelosi Vowed, ‘No New Deficit Spending’ and Grateful Dead: Government Paid Over $1 Billion to (250,000) Dead People in Last Decade.

Cultural War: The United Nations Educational, Scientific and Cultural Organization (UNESCO) recently demonstrated it’s subjectivity by voting recently to declare Rachel’s Tomb to be a mosque (UN Org.: Rachel's Tomb is a Mosque). Never mind the fact Rachel's Tomb and the Tomb of the Patriarchs are burial sites along with other Biblical Patriarchs and Matriarchs. No, instead UNESCO bought The Palestinian Authority’s claim Rachel's Tomb is holy to Muslims as the site of a mosque called the Bilal Bin Rabah Mosque. Even if it is, the historical dates of the Bible and Koran demonstrate proper legal claim.

The most frightening domestic news of the day centers on a perennial mover and shaker (Soros' proposal for 'elite' judiciary). According to the WorldNetDaily.com report, “A new report by John Gizzi of the Capital Research Center, to be released within the next few days, has an explanation: A powerful move by very wealthy interests across the United States to reshape the judiciary in the mold of progressives who believe the Constitution should be interpreted through the filter of personal desires.”

Maybe liberal radio host Bill Press has a good explanation for Mr. Soros’ plan: “The left is genetically disappointed, with or without Obama...” (Left 'genetically disappointed').

“Keep Austin Weird” proponents must be both proud and frustrated with the temporary restraining order against the parents of a pregnant 16-year-old (Court: Parents can't force teen to terminate). “‘No one should be allowed to decide that an innocent life—especially one that belongs to someone else—is worthless,’ added Stephen Casey of Round Rock, Texas, an Alliance Defense Fund-affiliated attorney involved in the case.”

You have to wonder just how bad crime in California is when police knowingly allow citizens to smoke pot in their presence. Slugger Josh Hamilton told the New York Post, "I could smell weed in the outfield. It was crazy. I was looking at the cops a couple of times during the game." The gravity was further exemplified by a Dallas sports anchor, who declared on-air, "Right over there, there's people smoking weed" (Dallas' Newy is the City's Newest Star). In his next report he added, "And the police aren't doing anything."

ObamaCare: The Hill reports “A conservative group critical of the Democrats' healthcare reform law has collected 1 million signatures calling for the law's repeal, the group announced Thursday. Revere America, a Washington-based conservative group named after the Revolution-era hero, has posted its petition online, calling for ‘the repeal and replacement of this law with responsible reforms.’”

On the other side of the isle Rep. Joe Sestak acknowledged ObamaCare’s cost to the Democrat Party explicitly "I would argue my party began getting off the track when it made a political calculation for the 60th vote on health reform" (Citing Specter shift, Sestak says Dems caved in on healthcare) and implicitly acknowledged Democrats went much farther than Americans wanted to go in socializing medicine and other socialist actions contained in the bill and it’s many Amendments, which, interestingly, are NOT linked to the bill on Congress’ official website.

Global War on Terror: The al Qaeda Arabian Peninsula cargo plan bomb campaign has been intercepted (Terror plot thwarted as US-bound explosives seized). The event is sure to drive the pat-down versus full body scan issue (Pat-Downs May Soon Become Norm At Airports). The real world continues to creep in on those who have never been outside the U.S.

Do the cargo bombs coincide with the Beltway sniper shots experienced recently (Gunshots! Jihadis on prowl in D.C.?) and/or the Metro bomb suspect, a Pakistani-born naturalized U.S. citizen (U.S. has wiretap evidence on Metro bomb suspect)?

2010 election: Rush Limbaugh rails against vote fraud (Rush Limbaugh: Vote Fraud Essential to Democrats) as Sheila Jackson Lee alleges intimidation (Sheila Jackson Lee wants DOJ to monitor tea partiers at polls) and the prospect of an Afghanistan-style corrupted election grows (Utah voting machines left unattended in lobby -- even after authorities were notified).

Elise Viebeck of The Hill mocked Sarah Palin for not catching the drift of State Department spokesman P.J. Crowley’s tweet to President Mahmoud Ahmadinejad (Palin pounces on State Department over Ahmadinejad birthday tweet). But Palin’s tweet comment is valid: “Mind boggling foreign policy ... Obama Doctrine is nonsense.” Twitter is neither a formal or informal communication method among countries. It is, on a routine basis, just an electronic ego-enlarging aide.

Life’s Rich Pageant: Yes, you can kill yourself with caffeine (Man Dies Of Caffeine Overdose). Historically it’s been difficult to accomplish but these days all it takes is two spoonfuls of caffeine powder bought over the Internet for $5.26.

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