Ron Paul to Fed, Ft. Knox:
Congressman Ron Paul is in the news today doing what he does best: dropping firebombs on the Fed. The Republican from Texas told Kitco News that he plans to introduce a bill next year that will allow for an audit of U.S. gold reserves. Paul reportedly said that, in his opinion, it’s a “possibility” that there in fact isn’t any yellow metal in Fort Knox or the New York Federal Reserve.
Threat of Housing Bubble Has Resurfaced
Canada's housing market could still be in for a U-S style correction, despite a slow down in home sales across the country. The warning comes from the Canadian Centre for Policy Alternatives, which released a report that analyzed the factors that cause a bubble. A real estate bubble is an artificial increase in property values which maxes out a homeowners ability to pay. When the bubble bursts, and values drop, owners are stuck with mortgages worth more than their homes. The CCPA found that prices in six of the country's largest housing markets, including Calgary, have hit 30-year highs and are in bubble territory. It says home prices are roughly five to 11 times greater than Canadians' annual income -- much higher than historical comfort levels.
An Accident Waiting to Happen
Parliament Hill Alleged Terror Goal
Parliament Hill and the Montreal subway system were the targets of an alleged terror plot foiled this week with the arrests of three suspects, says a former counterterrorism officer with the RCMP and Canada's spy agency.Michel Juneau-Katsuya said he has learned that at least one of the suspects used Ottawa Public Library computers to communicate with other members of the Ottawa-based cell. Internet messages between the men triggered computer "sniffers" used to monitor electronic signals at Ottawa's Communication's Security Establishment (CSE), the national cryptologic agency, which alerted the Canadian Security Intelligence Service (CSIS).
David Kelly's Death 'Textbook Suicide'
The death of Iraq weapons expert David Kelly was a "textbook case" of suicide, according to the pathologist who performed the post-mortem examination.
Foreclosures rise in July
The latest foreclosure numbers carried a mixed message: They're up 3.6% from the month before but down 9.7% from 12 months earlier. In July there were more than 325,000 foreclosure filings -- including notices of default, auctions notices and bank repossessions. That is the 17th month in a row total filings exceeded 300,000, said RealtyTrac's CEO, James Saccacio.
