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LINK:http://www.itv.com/itvplayer/video/?Filter=198443

John Pilger began his film career in British television in 1970, starting with the ITV current affairs series 'World in Action'. His first documentary, 'The Quiet Mutiny', is credited with disclosing to a worldwide audience the internal disintegration of the US army in Vietnam. Four decades on, he is still making challenging films for ITV and cinema. His films have won Academy Awards in Britain and the United States.
Most of John Pilger's films are now available to watch in their entirety on this website.Click on each film title below to watch on http://www.johnpilger.com/filmography

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This morning there have been more problems reported out of Europe. The Spanish 10 year bond yield soared higher after a bond auction this morning. This action occurred even as the European Central Bank(ECB) vowed to perform their own version of bond purchases. Portugal, Belgium, and Italy, are now next in line for bailouts. However, Spain would be the largest nation to date to need a bailout and this will certainly have a negative psychological effect on the rest of Europe. This morning the Currencyshares Euro Trust(NYSE:FXE) is trading lower by just 0.12 cents to $133.30. When the FXE declines it can only mean that the Powershares DB U.S. Dollar Index(NYSE:UUP) is trading higher. This morning the UUP is trading higher by 0.04 to $22.91. Today all eyes will be on the Federal Reserve Bank this afternoon at 2:15 pm EST. The Fed is expected to keep the Fed funds rate unchanged at 0.00 – 0.25 percent. The important overnight lending rate to the large major banks such as J.P. Morgan Chase & Co.(NYSE:JPM), Wells Fargo & Co.(NYSE:WFC), Bank of America Corp.(NYSE:BAC), and Citigroup Inc.(NYSE:C) has been at zero percent since December 2008. This action by the Federal Reserve Bank has basically given the banks free money while they invest in bonds, stocks and operate a credit card business which charges an average of 17.0 percent to customers. Many customers of the major banks are now outraged that they receive very little interest on their savings accounts that they have with the banks. The statement by the Federal Reserve Bank this afternoon could cause a short term reaction in the stock market.
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Not much to say here: QE3 is in the works, as once the equity rally fizzles, mortgages are at 5.5%, and Americans realize that home prices just dropped by 15%, there will be a lot of very confused stares.The move is not all that surprising: BofA's Prya Misra has just released her Rates Forecast for 2011: she see the 10 Year at 4% and the 30 Year at 4.65%.

10 Year

30 Year


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