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Archive for February 18th, 2009

It’s Getting Ugly: Economist Says Hoard Gold & Scotch

Posted by truthpills on 2009/02/18

Paul Joseph Watson
Prison Planet.com
Tuesday, February 17, 2009

Respected economist John Williams, editor of ShadowStats.com, a popular website that tracks real inflation figures, is advising that people hoard physical gold as well as food items in bulk so that they have some means with which to barter as the economic crisis turns ugly.

“Three or four years into the future I think we could be in a hyperinflation, within the current year you’re going to see much higher inflation than most people are looking at,” Williams told MarketWatch.

Williams said that his definition of hyperinflation would be a situation in which a $100 dollar bill would become more functional as a piece of toilet paper than a store of value.

“This is a time when you want to preserve your wealth and assets because inflation will knock the value out of it,” he added, advising that people buy physical gold and assets other than the U.S. dollar.

“Then when the hyperinflation hits you’ll see disruption of normal commerce, you won’t have enough $100 dollar bills to buy what you want,” said Williams, adding that items to barter with, such as a bottle of scotch, would be more valuable than actual cash, even in large quantities.

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Shortage of platinum after Japan buying spree

Posted by truthpills on 2009/02/18

From The Times
Leo Lewis, Asia Business Correspondent
February 11, 2009

Families are rushing to invest in the metal as faith in the Government’s ability to handle the economic crisis dwindles

Tokyo bullion dealers are reporting an unprecedented drought of platinum ingots and coins, blaming the economic downturn and dwindling faith in the Government for a rush by middle-class Japanese families to buy precious metal.

With dealers turning away would-be platinum customers for lack of stock, retail investment interest is turning towards the even rarer Canadian Maple Leaf palladium coin.

Some dealers are predicting volatile palladium prices as Japanese investors compete with the car industry, palladium’s main industrial buyer.

A government think tank is predicting that Japan’s economy shrank by an annualised 10.59 per cent in the final quarter of 2008 – rather than the 5.14 per cent contraction they were predicting four weeks ago.

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New Artificial DNA Points to Alien Life

Posted by truthpills on 2009/02/18

By Robin Lloyd, LiveScience Senior Editor
posted: 14 February 2009 07:55 pm ET

CHICAGO — A strange, new genetic code a lot like that found in all terrestrial life is sitting in a beaker full of oily water in a laboratory in Florida, a scientist said today, calling it the first example of an artificial chemical system that is capable of Darwinian evolution.

The system is made of the four molecules that are the basic building blocks of our DNA along with eight synthetic modifications of them, said biochemist Steven A. Benner of the Foundation for Applied Molecular Evolution in Gainesville.

The main difference between the synthetic molecules and those that make up conventional DNA is that Benner’s molecules cannot make copies of themselves, although that is just “a couple of years” away, he said.

The wild biochemistry finding, described to a small group of reporters today at the annual meeting of the American Association for the Advancement of Science, offers ideas about new types of life for scientists to look for beyond our planet, or even possibly hidden on our planet.

“Unless it happens to shoot at you with a ray gun, the life that you encounter off of Earth will not necessarily have same biochemistry as us,” Benner said.

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Kansas may delay tax refunds, paychecks

Posted by truthpills on 2009/02/18

Eagle Topeka bureau

TOPEKA – Income tax refunds and state employee paychecks could be late after Republican leaders and the Democratic governor clashed Monday over how to solve a cash-flow problem.

Payments to Medicaid providers and schools also could be delayed.

“We are out of cash, in essence,” state budget director Duane Goossen said.

The move places state taxpayers, workers and schoolchildren in the middle of a political battle over budget cuts.

Republicans, who hold majorities in both chambers, blocked Gov. Kathleen Sebelius’ proposal to borrow $225 million from healthy state funds to cover shortages in accounts used to meet the state’s payroll and issue tax refunds.

GOP leaders said they won’t approve the IOUs until Sebelius either cuts the current budget herself or signs the bill they passed last week slashing $326 million — including $32 million for education — to balance the budget.

Republican leaders said they had no choice, that by law the state can’t borrow any more money from itself.

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