Since a picture is worth a thousand words, I thought I would provide you with a couple of graphs showing the increase in the price of gasoline since both 1990 and 2009.
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“[T]his guidance would allow cleanup levels that exceed MCLs [Maximum Contamination Limits under the Safe Drinking Water Act] by a factor of 100, 1000, and in two instances 7 million and there is nothing to prevent those levels from being the final cleanup achieved (i.e., it’s not confined to immediate response of emergency phase).”Another EPA official, Stuart Walker of the Office of Superfund Remediation and Technology Innovation, explains what the proposed new radiation limits in drinking water would mean:
“It also appears that drinking water at the PAG concentrations…may lead to subchronic (acute) effects following exposures of a day or a week. In a population, one should see some express acute effects…that is vomiting, fever, etc.”“This critical debate is taking place entirely behind closed doors because this plan is ‘guidance’ and does not require public notice as a regulation would,” stated PEER Counsel Christine Erickson. Today, PEER sent EPA Administrator Lisa Jackson a letter calling for a more open and broader examination of the proposed radiation guidance. “We all deserve to know why some in the agency want to legitimize exposing the public to radiation at levels vastly higher than what EPA officially considers dangerous.”
The price of silver has been absolutely exploding lately. It has reached heights not seen since the Hunt Brothers attempted to corner the silver market over three decades ago. But this time there are no Hunt Brothers to blame for the stunning rise in the price of silver. So exactly why are investors buying silver as if there is no tomorrow right now? Well, the truth is that there are a lot of reasons. Investors have been flocking to precious metals such as gold and silver as the value of paper currencies has declined. The euro is incredibly weak right now and the U.S. dollar appears to be on the verge of a major collapse. In fact, the entire financial system is highly unstable right now. In such an environment, investors seek some place safe to park their money, and right now gold and silver are seen as safe harbors. But gold and silver have not been going up in price at the same pace. So why is silver outperforming gold so significantly?
The price of silver has increased by more than 150% over the past 12 months. But the price of gold has only gone up about 30%.
If you invested $100 in the S&P 500 ten years ago it would be worth about $107.48 today.
If you invested $100 in gold ten years ago it would be worth about $569 today.
If you invested $100 in silver ten years ago it would be worth about $1037 today.
Clearly something is going on with silver.
Many people are convinced that this is part of a correction that is long overdue. Geologists tell us that there is approximately 17.5 times as much silver in the crust of the earth as there is gold. But today the price of an ounce of gold is about 30 times higher than the price of an ounce of silver.
That would seem to indicate that the price of silver still has a lot of room to grow relative to the price of gold.
In addition, silver is a key industrial commodity and it is constantly being used up. Today, silver is used in a vast array of products and medicines. The following is an excerpt from an official U.S. government report that describes just some of the ways silver is used in society today....
Silver’s traditional use categories include coins and medals, industrial applications, jewelry and silverware, and photography. The physical properties of silver include ductility, electrical conductivity, malleability, and reflectivity. The demand for silver in industrial applications continues to increase and includes use of silver in bandages for wound care, batteries, brazing and soldering, in catalytic converters in automobiles, in cell phone covers to reduce the spread of bacteria, in clothing to minimize odor, electronics and circuit boards, electroplating, hardening bearings, inks, mirrors, solar cells, water purification, and wood treatment to resist mold. Silver was used for miniature antennas in Radio Frequency Identification Devices (RFIDs) that were used in casino chips, freeway toll transponders, gasoline speed purchase devices, passports, and on packages to keep track of inventory shipments. Mercury and silver, the main components of dental amalgam, are biocides and their use in amalgam inhibits recurrent decay.
Estimates vary, but many experts are now projecting that at current consumption rates we will run out of silver at some point during this century.
On the other hand, we are not facing a similar problem with gold. Gold, because it has traditionally been so expensive, is not used in many products at all. The total amount of gold on earth just continues to increase each year.
Silver is also considered to be a lot more accessible for smaller investors. Not many average Americans can afford to do much investing in gold because it is so expensive. But just about anyone can afford a few ounces of silver.
As investors around the globe have watched the Federal Reserve create endless amounts of money and as they have watched the U.S. government borrow endless amounts of money the hunger for precious metals has grown.
The following is what John Browne had to say about the current situation in a recent commentary....
Today, with the Federal Reserve treating the greenback as a never ending lottery ticket for deficit spending politicians, many investors feel the U.S. dollar is good for nothing. As a result there is an increasing international pressure to remove the U.S. dollar’s reserve status. Given that there is no widely accepted alternative to the dollar (the euro has many problems of its own), this is creating fears of an international currency crisis, which has fueled interest in precious metals.
As the U.S. dollar and other paper currencies continue to decline, the demand for precious metals such as gold and silver is only going to increase.
Most investors are not stupid. They know that the European debt crisis is approaching a meltdown. They know that U.S. government debt is not sustainable. They know that all of the paper currencies around the world that are backed by nothing will continue to decline in value just like they always have. All of the major central banks have been recklessly printing money. In such an environment it only makes sense to put your wealth into hard assets.
But there is another layer to all of this. Many now view investing in precious metals as a way to rebel against the Federal Reserve and other central banks. All over the globe people are waking up to how unjust the banking system is. Since central banks such as the Federal Reserve are almost completely unaccountable politically, many individuals have sought other ways to protest the system. Getting out of 'Federal Reserve Notes' and into precious metals is one small way to do that.
In any event, what is clear is that the price of silver is likely to continue to go up over the long-term. Silver is used in thousands of products and we are slowly running out of it. Meanwhile, the central banks of the world are absolutely flooding the globe with paper currency. What all of that adds up to is a much higher price for silver.
So what do all the rest of you think about the price of silver? Please feel free to leave a comment with your opinion below....
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Dear Speaker Boehner, Senator Reid, Senator McConnell, and Representative Pelosi:
I am writing to urge you to take immediate action to eliminate unwarranted tax breaks for the oil and gas industry, and to use those dollars to invest in clean energy to reduce our dependence on foreign oil.
High oil and gasoline prices are weighing on the minds and pocketbooks of every American family. While our economy has begun to recover, with 1.8 million private sector jobs created over the last 13 months, too many Americans are still struggling to find a job or simply just to pay the bills. The recent steep increase in gas prices, driven by increased global demand and compounded by unrest and supply disruptions in the Middle East, has only added to those struggles. If sustained, these high prices have the potential to slow down the pace of our economy’s growth at precisely the moment when we need to be accelerating it.
While there is no silver bullet to address rising gas prices in the short term, there are steps we can take to ensure the American people don’t fall victim to skyrocketing gas prices over the long term. One of those steps is to eliminate unwarranted tax breaks to the oil and gas industry and invest that revenue into clean energy to reduce our dependence on foreign oil. Our outdated tax laws currently provide the oil and gas industry more than $4 billion per year in these subsidies, even though oil prices are high and the industry is projected to report outsized profits this quarter. In fact, in the past CEO’s of the major oil companies made it clear that high oil prices provide more than enough profit motive to invest in domestic exploration and production without special tax breaks. As we work together to reduce our deficits, we simply can’t afford these wasteful subsidies, and that is why I proposed to eliminate them in my FY11 and FY12 budgets.
I was heartened that Speaker Boehner yesterday expressed openness to eliminating these tax subsidies for the oil and gas industry. Our political system has for too long avoided and ignored this important step, and I hope we can come together in a bipartisan manner to get it done.
In addition, we need to get to work immediately on the longer term goal of reducing our dependence on foreign oil, and our vulnerability to price fluctuations this dependence creates. Without a comprehensive energy strategy for the future we will stay stuck in the same old pattern of heated political rhetoric when prices rise and apathy and neglect when they fall again.
I recently laid out my approach to a comprehensive strategy in my Blueprint for a Secure Energy Future, which includes safe and responsible production of our domestic oil and gas resources and doubling down on fuel efficiency in the transportation sector while investing in everything from wind and solar to biofuels and natural gas. None of you will agree with every aspect of this strategy. But I am confident that, in many areas, we can work together to help show the American people that we can make progress on an energy policy that creates jobs and makes our country more secure.
And I hope we can all agree that, instead of continuing to subsidize yesterday’s energy sources, we need to invest in tomorrow’s. We need to invest in a 21st century clean energy economy that will keep America competitive. In the long term, that’s the answer. That’s the key to helping families avoid pain at the pump and reducing our dependence on foreign oil.
Sincerely,
Barack Obama
With no resolution to the crisis in sight, the damaged facilities at Fukushima continue to pump massive amounts of nuclear radiation into the surrounding environment every single day. So will much of northern Japan end up being uninhabitable due to nuclear radiation? Everyone agrees that the area immediately around Fukushima will be uninhabitable indefinitely. The only question is how large of an area around Fukushima is eventually going to be considered unlivable. This week authorities in Japan finally raised the crisis at Fukushima up to a level 7 disaster on the international scale. In fact, they are now telling us that the total release of radioactive material will likely surpass that of the Chernobyl disaster. Chernobyl was incredibly nightmarish and there are still vast areas around Chernobyl that are basically uninhabitable. But Chernobyl only burned for 10 days. The crisis at Fukushima could end up lasting for many months. Keep in mind that radiation is cumulative. Every single day the total amount of radioactive material that the world is dealing with because of Fukushima just continues to increase.
It would be hard to overstate how much of a disaster this will eventually be for Japan. At this point it seems clear that those that lived within the 30 km evacuation zone will never be able to safely return to their homes.
But what about the rest of northern Japan?
Already there are indications that areas beyond the evacuation zone will soon be unlivable as well as Stephen Lendman recently noted....
Japan's Asahi Shimbun reported a Hiroshima and Kyoto Universities' study showing radioactivity in soil samples beyond the 30 km evacuation zone is up to 400 times above normal, saying:
'The predicted changes in the level of radiation at the ground surface were calculated after analyzing the amounts of eight kinds of radioactive materials found in the soil and taking into consideration the half-lives of each material.'
The health effects of the various kinds of radioactive material that are being released at Fukushima should not be underestimated. Just consider what Dr. Russell Blaylock recently told Newsmax....
When we look at Chernobyl, most of West Germany was heavily contaminated. Norway, Sweden. Hungary was terribly contaminated. The radiation was taken up into the plants. The food was radioactive. They took the milk and turned it into cheese. The cheese was radioactive.
That’s the big danger, the crops in this country being contaminated, the milk in particular, with Strontium 90. That radiation is incorporated into the bones and stays for a lifetime.
So would you like to have radioactive material in your bones that affects your health for the rest of your life?
Do you want to live every day in fear of what you are eating?
Those are the kinds of decisions that residents of northern Japan are going to be facing.
Some 'experts' on the mainstream media have been downplaying the health risk from nuclear radiation, but the truth is that there is a world of difference between 'external radiation' and 'internal radiation'.
In a recent article for The Guardian, Helen Caldicott, explained why internal radiation is such a health hazard....
Internal radiation, on the other hand, emanates from radioactive elements which enter the body by inhalation, ingestion, or skin absorption. Hazardous radionuclides such as iodine-131, caesium 137, and other isotopes currently being released in the sea and air around Fukushima bio-concentrate at each step of various food chains (for example into algae, crustaceans, small fish, bigger fish, then humans; or soil, grass, cow's meat and milk, then humans). After they enter the body, these elements – called internal emitters – migrate to specific organs such as the thyroid, liver, bone, and brain, where they continuously irradiate small volumes of cells with high doses of alpha, beta and/or gamma radiation, and over many years, can induce uncontrolled cell replication – that is, cancer. Further, many of the nuclides remain radioactive in the environment for generations, and ultimately will cause increased incidences of cancer and genetic diseases over time.
The entire food chain in northern Japan is being absolutely soaked with radioactive material. Anyone that eats any food produced in northern Japan from now on is going to be taking a very serious risk.
That also applies to any seafood produced in northern Japan. The Japanese seafood industry is going to be absolutely decimated by all of this.
Authorities in Japan recently told us that 11,500 tons of 'moderately radioactive' water were going to be purposely released into the Pacific Ocean.
All of that radioactive material is going to be in the Pacific food chain for generations.
Seawater near the facility at Fukushima was recently measured to contain 7.5 million times the legal limit of iodine-131.
Anyone hungry for some fish?
But iodine-131 only has a half-life of about 8 days.
Some of the radioactive material being released at Fukushima has a much longer life span.
As I wrote about recently, radioactive cesium-137 is being released at 60% of the level that it was being released at during the Chernobyl disaster.
Cesium-137 has a half-life of approximately 30 years. That means that all of this cesium-137 is going to be with us for a very, very long time.
Not only that, authorities in Japan are now admitting that strontium is being released into the environment at Fukushima....
Slight amounts of strontium, a heavy radioactive metal that could lead to leukemia, have been detected in soil and plants near the crippled Fukushima Daiichi nuclear plant, Japan's science and technology ministry said on Tuesday.
And perhaps most deadly of all, the plutonium being released at Fukushima is going to contaminate the environment pretty much forever as Kurt Nimmo recently noted....
The alpha emitter plutonium is especially deadly. Plutonium 239 has a high half-life of around 24,000 years. Plutonium transforms into americium and enters the water table. It can contaminate a water supply for centuries.
What we are doing to the earth is beyond criminal.
When people talk about the possibility that northern Japan could end up being uninhabitable they are not making things up.
Remember, radioactivity from Chernobyl deeply contaminated 77,000 square miles.
So how long is the crisis at Fukushima going to last?
Well, there is at least one nuclear expert that claims that it could be 50 to 100 years before any of the spent nuclear fuel rods at the Fukushima complex will cool down enough to be removed from the facility.
That is a very, very long time.
And the truth is that every single man, woman and child in the northern hemisphere is going to be exposed to radioactive material from Fukushima.
Already, radioactive iodine-131 from the nuclear disaster at Fukushima has been found in seaweed in Puget Sound.
Ack!
Our authorities are trying to keep us calm, but the truth is that significant amounts of radioactive material are getting into the U.S. food chain.
According to Natural News, alarmingly high levels of radioactive material from Fukushima are being found in U.S. milk samples....
In Phoenix, Ariz., a milk sample taken on March 28, 2011, tested at 3.2 pCi/l. In Little Rock, Ark., a milk sample taken on March 30, 2011, tested at 8.9 pCi/l, which is almost three times the EPA limit. And in Hilo, Hawaii, a milk sample collected on April 4, 2011, tested at 18 pCi/l, a level six times the EPA maximum safety threshold.
Try not to think about the possibility that there may be radiation in your milk the next time you have a glass.
Amazingly, U.S. workers are actually being recruited to go over to Japan and work at Fukushima.
Anyone need a job?
The pay is apparently very good. You just might not live long enough to spend much of the cash that you make over there.
This crisis could end up being a death blow to the Japanese economy. Already it is being projected that approximately 5 million new vehicles will not be built this year because of the crisis in Japan.
In fact, Toyota is warning U.S. car dealers that there could be significant shortages of new vehicles this summer.
That means that if you want a new Toyota you better go out and grab one while you still can.
So could the crisis in Japan get even worse?
Yes.
The truth is that the area around Japan is incredibly seismically active right now.
Since the original earthquake back on March 11th, Japan has experienced over 980 aftershocks.
In some areas of Japan there are moments when you can literally see the ground moving. The video posted below absolutely blew me away the first time that I saw it. In this video, you can actually watch the ground in Japan move. Trust me, this video is worth a couple minutes of your time because it will absolutely blow your mind....