The Next Phase of the Credit Crunch and What it Means for Gold and Markets
Sovereign governments through their bailouts, stimulus packages and support, have basically become the credit markets. Hence, the one market to watch is the Treasury market. Globally, one should watch various sovereign bond markets. As a result of governments absorbing private debts (and soon to be state and local debts), the global bond market (especially US, UK and Japan) will be the next victim of the credit crunch.

Chancellor refuses to rule out benefits cuts
Chancellor Alistair Darling declined to rule out real-terms cuts to benefits payments this morning after pressure from MPs to explain how he plans to bring down the fiscal deficit.

Gordon Brown silent on Alistair Darling's 'bigger than Thatcher' cuts
Gordon Brown is giving a press conference in Brussels. He was asked whether he agreed with his Chancellor that Labour’s own figures point to bigger cuts in public spending than those made by the first Thatcher government.

This is a transcript of the Prime Minister’s answer:

Labour's spending cuts exposed
Darling has now exposed as false the Brown/Balls dividing line of "investment vs cuts". If Labour were to win, he said, the cuts would be worse than anything seen under Thatcher in the 1980s. This is Darling's problem: he's a dreadful liar. The IFS today laid out the scale of the cuts that would happen whoever wins the election, and the below graph is worth reprinting. Overall spending falls 12 percent (once dole and debt interest are taken into account). So when Darling says this is worse than anything in the 1980s, he is simply stating a fact. You'd never catch Balls or Brown doing that, by the way, and I hope that, when either pop up for interview, they will be asked if they agree with their Chancellor's assessment.

Oil price surges above $85

Sussex council bosses impose pay freeze after double digit salary boost
Council bosses have introduced a pay freeze for themselves this coming financial year after it was revealed some of them enjoyed double digit pay rises during the recession.

For the year 2008-09 West Sussex County Council chief executive Mark Hammond took home at least £220,000 – up from a maximum of £199,999 the previous year.

This represents a minimum pay rise of 10.5%.

UK police AND courts out of control (31Mar10)


A BBC Newsnight investigation into how the police "service" reacted to protesters, and how the judges dealing with the protesters ignored the law, and went completely over the top in sentencing the protesters "to teach people a lesson". This shows just how corrupt the British police "service" and the judges are.. Suppressing evidence, making up crimes that weren't committed, and sentences so severe you'd think people had committed murder or something of that nature.

New Labour have corrupted EVERY single public body, and it is deliberate.

If you are not suitably disturbed and disgusted by this news report, you need your head read.

Recorded from BBC Newsnight, 31 March 2010.

From Liarpoliticians