Peter Schiff Bullish On Foreign Stocks, Gold, And Silver

Euro Pacific Capital CEO/Chief Global Strategist Peter Schiff appeared on the FOX Business show Countdown to the Closing Bell last Wednesday. Host Liz Claman asked Schiff, who correctly-predicted the housing market crash and 2008 economic crisis, about where he was investing these days. He replied:

Well, my strategy has been the same for quite some time because I understand the problems that underlie the U.S. economy, how the Federal Reserve is exacerbating them in the name of trying to solve them, and so I want to invest abroad. We still favor equities, but I look at international equities. I look at value. I look at good dividends. And I want to own companies that are not dependent on the consumer…

A map was subsequently displayed that showed “Peter’s Global Area Picks”- Australia, Chile, China, Denmark, Hong Kong, Mexico, New Zealand, Norway, Peru, Singapore, and Sweden.

Claman also brought up precious metals in the discussion. Particularly, silver. From their exchange:

CLAMAN: Let’s put up the miners, because you feel that the miners now have an opportunity to really rise. Silver below $20 an ounce these days. That seems to me like a good buy because it’s so cheap.
SCHIFF: Well, it did get as high as $50 a couple of years ago. But it started the rally from below $4. So, we’re in a big bull market. We’ve been pausing for the last couple of years. But I think it’s the pause that’s going to refresh. I think what drove the metals market lower in 2013 was the false belief in a U.S. recovery, and the idea the Fed was through with QE, and that we were on the verge of a tightening cycle. None of that is true. We are slipping back into recession. Janet Yellen is going to launch an even bigger round of QE than what Bernanke launched. And this is going to be very bullish for gold and silver. But it’s not going to be bullish for the U.S. economy.


“Safeguarding Your Portfolio By Investing Abroad”
YouTube Video

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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Marc Faber: ‘The Gold Market Has Bottomed-Out’

Well-known investment advisor/money manager Marc Faber was on the FOX Business show Opening Bell last Wednesday. Speaking by phone, the publisher of the monthly investment newsletter The Gloom Boom & Doom Report was asked by host Maria Bartiromo about the geopolitical instability going on and investing in such an environment. From their exchange:

BARTIROMO: Mark, what do you think? What would you be doing right now as an investor?
FABER: Well, basically, I always own some shares. Most of my shareholdings are in Asia… In Asia, the Indian market is up 22 percent year-to-date. The Thai market is up 20 percent in dollar terms. Jakarta is up 24 percent. Philippines up 18 percent. Karachi up 17. Ho Chi Min up 17.
BARTIROMO: So you want to continue to stay exposed to Asia then and not the U.S.?
FABER: Yes. Yes. I worry about the geopolitical tensions, and they have an impact on Vietnam. But I think all the Asian countries are so China-centric that there won’t be a military conflict. There’ll be rattling and disputes and so forth. But the U.S. doesn’t have the power to really wage a war in Asia. That we have to be very clear about.
BARTIROMO: Mark, very quickly, the bottom line on the U.S.- do you think we’re going to see a sell-off this year?
FABER: Yes.
BARTIROMO: How significant?
FABER: As I told you before, I would own some gold, because I think the gold market has bottomed-out. Year-to-date, the junior gold mining index is up 40 percent.


“How geopolitical issues could derail the markets”
FOX Business Video

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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22 States Now Recognize Illinois Concealed Carry License

After several years of researching and blogging about personal safety topics, I’ve noticed a number of companies selling firearms, ammunition, and other self-defense products refuse to do business with potential customers from Chicago, Cook County, and/or Illinois, even though what they’re selling can be legally-purchased and possessed by residents of those areas. From what I understand, the thinking is:

If you’re going to elect politicians that are anti-gun and anti-personal defense, then we’re not going to sell our products to you until you vote said politicians out of office.

I’ve wondered if a similar train of thought might carry over to their state’s recognition of the new Illinois Concealed Carry License.

The jury’s still out on that one.

But there are a number of states that already do recognize the Illinois concealed-carry permit. And the outlook for more doing so seems positive. Kevin Craver reported on the Northwest Herald (Chicago, Illinois, northwest suburbs) website yesterday:

Since becoming available to the public in January, 22 other states recognize the Illinois permit, meaning it authorizes the holder to carry there. The list includes all of Illinois’ neighboring states, much of the Midwest and portions of the West and South…

The list of states that recognize Illinois’ permit likely will increase as states review their agreements, [Illinois State Rifle Association Executive Director Richard] Pearson said. Gun-friendly Texas, for example, honors permits from most other states but not yet Illinois…

States that honor the Illinois permit besides its immediate neighbors are Alabama, Alaska, Arizona, Arkansas, Idaho, Kansas, Michigan, Mississippi, Montana, Nebraska, Nevada, North Carolina, Oklahoma, South Dakota, Tennessee, Utah and Vermont.

Good to know. Especially for those with Illinois CCLs or interested in acquiring one and looking to carry concealed out of state.

For more information on the Illinois Concealed Carry License, visit the Illinois State Police website here. As I mentioned in a different post last week, much of the processing hiccups and initial backlog look to have been dealt with by the ISP already.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Craver, Kevin P. “More states recognizing Illinois concealed-carry permits.” Northwest Herald. 17 Aug. 2014. (http://www.nwherald.com/2014/08/15/more-states-recognizing-illinois-concealed-carry-permits/ad8bxlo/?page=1). 18 Aug. 2014.

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Robert Shiller: ‘The United States Stock Market Looks Very Expensive Right Now’

Back on July 18, I asked if Robert Shiller, the Yale professor credited with correctly-calling the “dot-com” and housing busts, saw froth in the U.S. stock market.

A month ago, I offered, “You make the call.”

Today, I think Dr. Shiller does see froth.

The “crash prophet” penned “The Mystery of Lofty Stock Market Elevations,” which appeared on The New York Times website yesterday. From the article:

The United States stock market looks very expensive right now. The CAPE ratio, a stock-price measure I helped develop — is hovering at a worrisome level.

I wrote with some concern about the high ratio in this space a little over a year ago, when it stood at around 23, far above its 20th-century average of 15.21. (CAPE stands for cyclically adjusted price-earnings.) Now it is above 25, a level that has been surpassed since 1881 in only three previous periods: the years clustered around 1929, 1999 and 2007. Major market drops followed those peaks.

The CAPE was never intended to indicate exactly when to buy and to sell. The market could remain at these valuations for years. But we should recognize that we are in an unusual period, and that it’s time to ask some serious questions about it…

(Editor’s note: Bold added for emphasis)

A somewhat alarming piece- considering Shiller’s history- which you can read in its entirety on the Times’ website here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)

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Sunday, August 17th, 2014 Crash Prophets, Investing, Stocks No Comments

Chicagoans’ Personal Safety Compromised By ‘Stoning’ Of Police In Ferguson, Missouri?

Anyone else been watching the events taking place in Ferguson, Missouri, the last couple of days? I haven’t been following the racially-charged protests and looting as much I would have liked to. However, here’s one observation I’ve made that many should do well to recognize in America of 2014:

You and you alone are ultimately responsible for your personal safety.

On Friday, I heard it mentioned in one of the live TV broadcasts from the embattled town that law enforcement was purposely being kept some distance away from the protesters with the idea being that if police officers weren’t physically present, they wouldn’t incite any violence, and Thursday’s relative calm would continue.

Regrettably, things didn’t go as planned as the looters moved in to take advantage of this situation (you don’t say?). From the FOX News website Saturday:

Looters in Ferguson, Mo., were met with little police resistance Friday night and store owners say they were forced to protect their businesses with their own guns, Fox2Now.com reported…

A reporter from the station tweeted that police cars were seen driving past some of the stores being looted and did not respond. It rained in Ferguson Friday night and protesters could be seen outside until 6 a.m.

Two store owners, standing outside their business holding guns, told Fox2Now.com that when they called 911, they were sent from one police agency to another, and got no response.

One of the owners, with a large black gun resting on his shoulder, told the station that police were lined up blocks from the looting, and did not engage looters making off with large boxes from these stores.

“There’s no police,” he said. “We trusted the police to keep it peaceful; they didn’t do their job.”

Former St. Louis County Police Chief Tim Fitch tweeted: “You did not see “police restraint” overnight. You saw police reluctant to act. We cannot keep stoning the keepers at the gate.”

“We cannot keep stoning the keepers at the gate.”

This activity- which President Barack Obama and others have been charged with undertaking during the Ferguson ordeal- hasn’t been lost on at least some in the Chicago Police Department. From the popular Chicago police blog Second City Cop yesterday:

You know what we’re hearing, loud and clear?

• Don’t get out of the car. Ever. Indianapolis Metro Police Department be damned, if you get out of the car, the media will run half-truths, the community will riot, the brass will turn their backs and the politicians will run the bus over you, again and again and again in a constant loop.

In the urban centers, police work is done and the Law of the Jungle prevails. Protect yourself and your job. We never thought we’d have to type that.

“In the urban centers, police work is done and the Law of the Jungle prevails.”

Can’t say I blame them for feeling this way.

Consequently, Chicagoans better realize this is how things may stand going forward concerning their personal safety.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Sources:

“‘There are no police’: Ferguson store owners guard businesses; cite lack of police response.” FOX News. 16 Aug. 2014. (http://www.foxnews.com/us/2014/08/16/there-are-no-police-ferguson-store-owners-guard-businesses-with-own-guns-lack/). 17 Aug. 2014.

“Guess What Message We’re Hearing.” Second City Cop. 16 Aug. 2014. (http://secondcitycop.blogspot.com/2014/08/guess-what-message-were-hearing.html). 17 Aug. 2014.

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Sunday, August 17th, 2014 Crime, Government, Public Safety, Self-Defense No Comments

Quote For The Week

“Memories deceive. They outright lie to you and chain you to the past, rather than helping you to perform in the present.”

-Brad Scornavacco (American martial artist, Systema instructor, and author of Systema Revelations: Lessons of the Russian Martial Art)

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Sunday, August 17th, 2014 Quote For The Week No Comments

Resource Of The Week: ATSN’s Stop The Threat TV Show

I’ve now been at the new place a little more than a year, and I still don’t have my beloved satellite TV service hooked up. Truth be told, I’m so busy these days I don’t have that much time to watch television. However, I do miss some of the shows that were only on “pay TV.” One that I used to watch on a regular basis was Stop the Threat. From the American Trigger Sports Network website:

American Trigger Sports Network presents “Stop the Threat”, hosted by James B. Towle, featuring a rotating round table of expert guest panelists as they offer an informed discussion aimed at armed citizens on legal gun ownership, the use of deadly force, and how one may avoid becoming a victim, or respond to a life or death situation. This series may save your life!


“ATSN Stop the Threat television series promo”
YouTube Video

I used to watch it on the Pursuit Channel, which adds:

They analyze life-threatening crime scenes reenacted from real crime scenarios happening across the country. With more citizens, legal gun owners, and viewers becoming interested in protecting themselves and their families, Stop the Threat has opened the conversation of a previously neglected subject that could help save lives.

Very intense yet very informative. That’s what I used to think of the show.

How about you? Seeing that past episodes can be viewed for FREE via the Stop the Threat page on the ATSN website.

As of tonight, I count 36 episodes archived, each running somewhat longer than 20 minutes.

If you are going to watch the show, keep in mind the warning that’s prominently displayed at the beginning of each episode:

VIEWER WARNING: Contains extreme violence and is intended for mature audiences only. Viewer discretion is advised.

Adds a lot more realism to the crime reenactment, if you ask me.

While the last episode released looks to be from April 14, 2014, according to the ATSN Facebook page on August 6:

New season is coming soon!!!

Until then, you can watch hours and hours of Stop the Threat archived on the American Trigger Sports Network website here (scroll down to bottom of page).

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: Link added to “Resources” page)

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Profitable Assets, Professions In Germany’s Hyperinflation Of The 1920s

Since I started being concerned back in 2004 about the prospect of a U.S. financial crash, I’ve been interested in reading about the everyday lives of the people who lived through economic collapses.

Why? Because I believe there are valuable lessons to be learned for what I think is coming down the road for us here in America.

I haven’t really come across any good Great Depression accounts yet (if you know of one- shoot me over a suggestion). But the other night, I happened to stumble upon a rather lengthy article on the website of Der Spiegel (Germany) that provided a great deal of insight of what went on in Germany during their devastating bout with hyperinflation in the 1920s. Alexander Jung even went so far as to identify the financial “winners” and “losers” during that period of time. Jung wrote back on August 14, 2009:

The only objects of real value were tangible assets: diamonds and coins, antiques, pianos and art. The works of contemporary artists like Lyonel Feininger, Paul Klee, Max Pechstein and Karl Schmidt-Rottluff were in especially high demand. And if you had foreign currency, you lived like a king

The stupid ones were those who had nest eggs: the thrifty, holders of government bonds, but primarily the country’s pensioners. In other words, those who received money without having to work for it, who lived on their pensions or the interest on their savings. Large sections of the middle classes saw themselves stripped of their assets, losing almost everything they had set aside for years. Banks, savings banks, and insurance companies suffered huge losses and were left with nothing but their paper money. As a result, they had to start the majority of their businesses from scratch in 1924.

By perverse contrast, the winners of the hyperinflation were those with massive debts; first and foremost the state, but also private individuals who had borrowed money to buy houses, construction land or farmland, and whose loans were slashed by the switch to the rentenmark.

Some industrialists made huge gains from the period of hyperinflation. Hugo Stinnes, whom Time magazine crowned “Germany’s new Kaiser,” built up an immense corporate empire comprising heavy industry, newspapers, ships and hotels — all based on a mountain of debt. As late as the summer of 1922, Stinnes was recommending that people continue capitalizing on “the weapon of inflation.” Indeed manufacturers and craftsmen in general profited from the crisis since they possessed plants and buildings — that is, tangible assets that outlived the currency switch.

Most farmers also did extremely well. “They had money to burn, and spent it willy-nilly,” writer Lion Feuchtwanger recalled. Some bought themselves entire stables of racehorses, others expensive cars. “Farmer Greindlberger drove from the grimy village street of Englschalking to Munich in an elegant limousine complete with a liveried chauffeur, while he himself was dressed in a brown velvet jacket and a green chamois-tufted hat,” Feuchtwanger wrote of the rural rich…

(Editor’s note: Bold added for emphasis)

That last bit about farmers buying expensive cars reminds me of what “crash prophet” Jim Rogers has been telling anyone who will listen:

The farmers are going to be driving Lamborghinis and Maseratis.

Anyway, the quote doesn’t do the piece justice. I recommend you read the entire article on the Der Spiegel site here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Related Reading: U.S. ‘Preparing A Proposal’ For Bail-Ins

From my other blog- Offshore Safe Deposit Boxes- this morning:

Federal Reserve: U.S. Is ‘Preparing A Proposal’ For Bail-Ins

It looks like the United States is putting together a “bail-in” program for its “systemically important banks.” Mark O’Byrne, Executive Director of international bullion dealers GoldCore, wrote on the company’s Gold Blog on August 12:

Speaking about the steps that have been taken internationally in order to “strengthen the financial system” and to reduce the “probability of future financial crisis,” [Federal Reserve Vice Chairman Stanley] Fischer said that the U.S. was preparing proposals for bank bail-ins for “systemically important banks.”

“Additional steps have been taken in some countries. For example, in the United States, capital ratios and liquidity buffers at the largest banks are up considerably, and their reliance on short-term wholesale funding has declined considerably. Work on the use of the resolution mechanisms set out in the Dodd-Frank Act, based on the principle of a single point of entry–though less advanced than the work on capital and liquidity ratios–holds the promise of making it possible to resolve banks in difficulty at no direct cost to the taxpayer.

As part of this approach, the United States is preparing a proposal to require systemically important banks to issue bail-inable long-term debt that will enable insolvent banks to recapitalize themselves in resolution without calling on government funding–this cushion is known as a “gone concern” buffer.

(Editor’s note: Bold added for emphasis)

At least someone at the Fed now recognizes the “probability of future financial crisis.”

You can read the entire post on that other blog here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Thursday, August 14th, 2014 Banking, Essential Reading, Federal Reserve No Comments

Jim Rickards Suspects China Behind Gold Price Manipulation As It Buys Metal To Hedge Against Dollar Devaluation

Euro Pacific Capital CEO and Global Strategist Peter Schiff just got done interviewing Jim Rickards, an American lawyer, economist, investment banker, and best-selling author. Rickards, who released The Death of Money: The Coming Collapse of the International Monetary System, this spring, spoke with Schiff about the global gold markets. What he had to say about China and its steady accumulation of physical gold (reserves now totaling close to 4,000 tons, Rickards speculates) was extremely interesting. Some might say shocking. From the exchange:

Now there’s been a lot of speculation the reason they’re doing this is they want to launch a gold-backed yuan currency to defeat the dollar. That’s not going to happen. That’s not even close. The reason is that the yuan’s not ready to be a reserve currency because they don’t have investable assets. There’s no rule of law. There’s no mature bond market in China. But what they are doing, is creating a very simple hedge position… So you’ve got $4 trillion of paper reserves, most of them U.S. dollars. You can’t dump them. If you’re going to try and sell a fraction… the Treasury market’s big- it’s not that big. If they try and do something more aggressive, the President of the United States can actually stop them just by freezing their accounts. So what you do is buy up a pile of gold. So now, the Chinese want a stable dollar. They would love a stable dollar. But if the U.S. tries to devalue the dollar, tries to cheapen the dollar through inflation- remember, every 10 percent of dollar inflation is a $300 billion wealth transfer from China to the United States. So if you cheapen the dollar with inflation, they lose money on the paper, but they make money on the gold. So they’re building a hedge position. They’re not done yet.

I’ve heard it claimed before that China is accumulating gold to back the renminbi. But Rickards says this isn’t the case. Even more eye-opening than the dollar hedge theory was something he said later on in the interview:

The gold manipulation, by the way, is so blatant at this point, if I were the manipulator I’d be embarrassed… The question is, who’s doing it? And people like to point a finger at the Fed and maybe through the BIS- they have a hand in it. But my number one suspect is China for the reason you mentioned, Peter. If you’re out to buy 3,000 tons, you don’t want the price to be high yet. Maybe later you do. But for now you want the price to be low.


“Interview: Jim Rickards & Peter Schiff Discuss Global Gold Markets [Full Discussion]”
YouTube Video

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Islamic State Flag ‘Displayed’ Outside White House

This past Sunday, I blogged about that Islamic State documentary by VICE News where the declared caliphate’s press officer, Abu Mosa, announced:

I say to America, that the Islamic Caliphate has been established. And we will not stop. Don’t be cowards and attack us with drones. Instead send your soldiers, the ones we humiliated in Iraq. We will humiliate them everywhere, God willing, and we will raise the flag of Allah in the White House.

“We will raise the flag of Allah in the White House.”

From Kristinn Taylor on the Gateway Pundit website on August 9:

A photo posted to Twitter on Saturday by a supporter of the terrorist group the Islamic State (aka ISIS or ISIL) shows a cellphone screen with a large image of the black flag of jihad being held up so the White House is seen in the background. The Twitter account @mhajr93 posted the image.

The undated photo was taken at night from the Pennsylvania Avenue side of the White House. The brightly lit North Portico is clearly seen in the background of the photo.

Alongside the photo was the propaganda message, “we are here #America near our #target :) sooooooooooooon”.

Islamic State Flag White House

Well, unless it was just some punk pulling a prank, the incident suggests Islamic State supporters are in America. But it’s one thing to back the movement, and another to carry out an act of terrorism on behalf of it.

So, how much of a threat does the Islamic State and its followers pose to the U.S. homeland?

Besides already being combat-tested like I mentioned Sunday, consider what Greg Miller reported on The Washington Post website on August 9:

The group has not been linked to any known plot against the United States, but Director of National Intelligence James R. Clapper Jr. testified in January that the group “does have aspirations for attacks on the homeland.”

(Editor’s note: Bold added for emphasis)

As if the Islamic State press officer wasn’t clear enough already about their intentions.

And then there’s this from AWR Hawkins in a related piece on the Breitbart website yesterday:

On top of all this, Islamic State has money.

During the August 10 airing of Breitbart News Sunday, Breitbart’s own Dr. Sebastian Gorka pointed out “Islamic State has $800 million in assets.” And when you compare that to the relatively small $500,000 it cost to carry out the 9/11 attacks on the World Trade Center, it’s not hard to see how potent Islamic State could be in carrying out attacks far beyond Syria and Iraq.

(Editor’s note: Bold added for emphasis)

“$800 million in assets”

Cash in a good chunk of that and the new caliphate could buy an awful lot of bang for those bucks.

Here’s hoping they’re stopped before that happens.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Sources:

Taylor, Kristinn. “ISIS Supporters Flash Islamic Flag in Front of White House- Threaten America.” Gateway Pundit. 9 Aug. 2014. (http://www.thegatewaypundit.com/2014/08/isis-supporters-flash-islamic-flag-in-front-of-white-house/). 13 Aug. 2014.

Miller, Greg. “Fighters abandoning al-Qaeda affiliates to join Islamic State, U.S. officials say.” The Washington Post. 9 Aug. 2014. (http://www.washingtonpost.com/world/national-security/fighters-abandoning-al-qaeda-affiliates-to-join-islamic-state-us-officials-say/2014/08/09/c5321d10-1f08-11e4-ae54-0cfe1f974f8a_story.html). 13 Aug. 2014.

Hawkins, AWR. “Fighters Leaving Al Qaeda Affiliates To Join Islamic State.” Breitbart. 12 Aug. 2014. (http://www.breitbart.com/Big-Peace/2014/08/11/Fighters-Leaving-Al-Qaeda-Affiliates-To-Join-Islamic-State). 13 Aug. 2014.

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Wilding Strikes Chicago’s Uptown Neighborhood

“I had a group of about 20-30 swarm my car as I slowed to avoid hitting these kids. They started hitting and kicking my car and one of them opened my car door from the outside while another was grabbing at me… I also saw them assault other drivers, kicking and hitting their cars as they tried, and in some cases succeeded, in opening car doors.”

-NBC 5 (Chicago) website, regarding Monday’s wilding in Uptown

Last night, I was watching the WGN 9 (Chicago) evening news with my girlfriend when another wilding/flash mob/mob attack incident was talked about- this time north of downtown Chicago in the Uptown neighborhood. According to the WGN website:

A large group of teenagers caused chaos and damage in the Uptown neighborhood Monday night…

The teens ran and trampled on top of cars around Leland Ave and Beacon Street. Cars were dented, scratched and windshields were broken.


WGN 9 Video

NBC 5 reported there were “20-30 teens.” I heard from a different news outlet that the feral youth numbered as high as 100.

My girlfriend said the Chicago Police Department had a strong presence downtown this past weekend. I can’t help but wonder if this latest wilding incident might be signaling a new trend, where such criminal activity moves to nearby neighborhoods and streets because of more CPD police officers around the tourist hot spots. Time will tell.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Sources:

“Massive ‘Wilding’ Incident Disrupts Uptown Traffic.” NBC 5. 12 Aug. 2014. (http://www.nbcchicago.com/news/local/Massive-Wilding-Incident-Disrupts-Uptown-Traffic-271001461.html). 13 Aug. 2014.

“Video captures vandals damages slew of cars in Uptown.” WGN 9. 12 Aug. 2014. (http://wgntv.com/2014/08/12/group-damages-several-parked-cars-in-uptown/). 13 Aug. 2014.

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Wednesday, August 13th, 2014 Crime, Public Safety, Self-Defense No Comments

Proposed National ‘Enhanced’ Body Armor Ban Details

Speaking of body armor tonight, have you heard of the federal legislation that’s been proposed by a California Democratic Congressman to ban Americans not in the military or law enforcement from selling, purchasing, using, and possessing such personal protective gear? From the website of U.S. Representative Mike Honda (D-CA, 17th District):

Responsible Body Armor Possession Act Keeps Military Armor out of the Wrong Hands

Congressman Honda’s act bans the sale and possession of new enhanced body armor

Jul 31, 2014 Press Release

Washington, DC- Congressman Mike Honda (D-CA17) today introduced the Responsible Body Armor Possession Act of 2014, which allows law enforcement to respond to active shooters more effectively. It accomplishes this by prohibiting the sale, purchase, use, or possession of enhanced military-grade body armor by anyone who is not a member of law enforcement, active duty military, or other authorized users.

“There is no reason this type of armor, which is designed for warfare, should be available in our communities except for those who need it, like law enforcement,” Congressman Honda said. “There’s nothing more dangerous than what a well-armored, unstoppable active shooter can do. This bill is common-sense and long overdue.”

The U.S. News & World Report website highlighted the finer points of the proposed “enhanced” body armor ban. Steven Nelson reported August 8:

Honda’s “Responsible Body Armor Possession Act,” introduced July 31, would prohibit civilians from buying or owning armor – including vests, shields, helmets and other items – rated Type III or higher on the National Institute of Justice’s penetration resistance scale…

Weaker armor rated Type I or Type II would remain available to the public if the legislation becomes law. However, many bullet-resistant items on the market now, such as bulletproof backpacks for school children, are rated Type III and would therefore be banned.

The ban would not apply to body armor already in private hands, but Honda says law enforcement might want to encourage people to turn in the items anyhow. “If there are records of sales [law enforcement] could track those down,” he says…

(Editor’s note: Bold added for emphasis)

I’m not so sure this bill has got much mileage.

While those who support it may think doing so will create or enhance a “tough on crime” image, constituents may instead interpret this proposed ban as what some are claiming is yet another attempt by those in Washington to reduce the American citizenry into unarmed, now unprotected sheep ready to be led to the slaughterhouse if it comes to that.

“Oh, behaaave!”

Anyway, below is a copy of the legislation:

Body Armor Ban Bill


H.R.5344, Responsible Body Armor Possession Act of 2014
Scribd File

You can track the progress of the proposed “enhanced” body armor ban legislation over on Congress.gov here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Nelson, Steven. “Congressman Guns for High-Performance Body Armor Ban.” U.S. News & World Report. 8 Aug. 2014. (http://www.usnews.com/news/articles/2014/08/08/congressman-guns-for-high-performance-body-armor-ban). 12 Aug. 2014.

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Northern Illinois Bank Robberies Up 35 Percent

Just got done watching the WGN evening news in Chicago a short time ago. One of the segments focused on the alarming number of bank robberies taking place in the Chicagoland area.

According to WGN, bank robberies in northern Illinois are up 35 percent.

101 heists have taken place so far this year.

122 bank robberies were committed in all of 2013.

Just yesterday, a teller was shot at one of these incidents out in suburban Bolingbrook.

Here’s hoping it doesn’t get to the point where I need to don body armor whenever I head out to conduct a financial transaction (this already occurs in some countries, from what I understand).

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Tuesday, August 12th, 2014 Banking, Crime, Gear, Main Street, Self-Defense No Comments

Illinois Ranked 4th Most Corrupt State In America

The other day I came across an interesting article on the Yahoo! Homes website. It was entitled “The most corrupt states in America.” I thought to myself:

I wonder how high Illinois will rank on this list?

Pretty high, as a matter of fact. From the piece:

4: Illinois. An old standby. The last two governors both went to jail for corruption. Enough said.

Actually, there’s more to be said. Robert McGarvey wrote on August 7:

An academic at the University of Hong Kong and another at Indiana University set out to rank the states by level of corruption, combing arrest and conviction records for public officials.

Cheol Liu and John L. Mikesell also reported that states with greater public spending have more corruption- particularly when the spending is in areas ripe for bribery, like construction, police and highway projects.

“People think corruption doesn’t happen here,” said Chicago lawyer Sergio Acosta, who used to work in the U.S. Attorney’s Office for the Northern District of Illinois. He’s a member of Chicago Mayor Rahm Emanuel’s Ethics Reforms Task Force, which aims to codify appropriate behavior for city employees. “That’s the real value of this report.”

“People think corruption doesn’t happen here”

(Editor is laughing his ass off right now)

“Illinois” and “corruption” are pretty much interchangeable in the minds of many people familiar with the state. Particularly Illinoisans. I blogged back on April 2:

I don’t talk about the topic too often, but political corruption was the focus of a recent poll taken by the Paul Simon Public Policy Institute down at Southern Illinois University in Carbondale. From a press release Monday:

Illinois Voters: Political Corruption “Common” In Our State

Overwhelming majorities of Illinois voters believe political corruption is the norm for both federal and state governments, according to the latest poll by the Paul Simon Public Policy Institute at Southern Illinois University.

Fewer people believe political corruption at the local level affects their lives – unless they live in Chicago.

The poll of 1001 registered voters across the state conducted Feb. 12 -25 has a margin for error of plus or minus 3.5 percentage points. The survey found:

• 89 percent of Illinoisans feel corruption is somewhat common in the state, with 53 percent believing it’s very common.
• 79 percent say corruption at the federal level is at least somewhat common, with 45 percent saying it’s very common.
• 62 percent of all Illinoisans believe county or city political corruption is at least somewhat common, with 35 percent reporting local corruption to be very common.
• However, 85 percent of those living in Chicago believe county or city political corruption is at least somewhat common, with 55 percent perceiving local corruption to be very common.

“These are sad numbers,” said David Yepsen, Director of the Institute. “No wonder many people don’t vote and participation in civic affairs seems limited. It’s unhealthy for a society to have such little confidence in the integrity of government. It makes Illinois an unattractive place to live.”

I also wrote back on February 14, 2012:

This afternoon I was running errands around the Chicagoland area when I heard on WBBM Newsradio 780 that a new study showed Chicago is the most corrupt city in the nation. From the CBS Channel 2 Chicago website:

A former Chicago alderman turned political science professor/corruption fighter has found that Chicago is the most corrupt city in the country.

He cites data from the U.S. Department of Justice to prove his case. And, he says, Illinois is third-most corrupt state in the country

University of Illinois professor Dick Simpson estimates the cost of corruption at $500 million.

(Editor’s note: Bold added for emphasis)

Oh, people think corruption happens around here. And for good reason.

If Illinois readers think it’s bad now, wait until the bottom really falls out of the economy.

In fact, it’s probably a good idea to start making influential friends/connections now if you haven’t done so already as part of a larger program for taking care of your and your loved ones’ needs when conditions become tough to do so.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

McGarvey, Robert. “The most corrupt states in America.” MainStreet.com. 7 Aug. 2014. (https://homes.yahoo.com/news/the-most-corrupt-states-in-america-033250358.html.) 12 Aug. 2014.

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Tuesday, August 12th, 2014 Corruption, Crime, Government, Preparedness No Comments


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