An apocalyptic documentary regarding the sorry state of the British Economy and it's colossal debt mountain. Warning: Unpleasant content.
China's central bank pumps $5bn (£3.1bn) into the banking system to ease concerns over a credit squeeze that has caused rising interest rates.
Jens Weidmann, president of the Deutsche Bundesbank, said Germany brought back nearly 37 tonnes of gold from its reserves in New York and Paris this year and that the final goal is to store half the national reserves of the precious metal, or about 3,400 tons, in its own vaults by 2020.
Ron warns that the new Fed Chair will “never turn the spigot off” and with the U.S. owing trillions worldwide, the dollar will only continue to be doomed.
The Financial System On A Global Economic Scale Will Unravel
John Williams Of Shadow Stats This Is End Of The World Type Stuff
December 23rd, 1913 is a date which will live in infamy. That was the day when the Federal Reserve Act was pushed through Congress. Many members of Congress were absent that day, and the general public was distracted with holiday preparations.
By November, the most recent month for which statistics are available, the US Fiat Money Quantity (FMQ) had grown to $12.351 trillion. This is $4.96 trillion more than it would be if it had grown in line with the established average monthly growth rate from 1960 to the month before the Lehman Crisis. By this measure monetary inflation since August 2009 is now 67% above trend. This is illustrated in Chart 1 below.
Today a former US Treasury Official warned King World News that the Federal Reserve is going to dramatically increase its manipulation, control, and influence over capital markets which are longer free trading. He also warned the Fed will not want face risk with their increased manipulations, so expect the ‘fix’ to be in. Below is what Dr. Paul Craig Roberts had to say in this powerful interview.
Today gold slid under $1200 per ounce, dropping to a level not seen in three years. Judging by the price action one would think that gold is not only overflowing from precious metal vaults everywhere, but can be found thrown away on the street, where nobody even bothers to pick it up. One would be wrong. In fact, as Bloomberg's Ken Goldman reports, "you could walk into a vault in London and they were packed to the rafter with gold, and the gold would trade from me to you to somebody else. You could walk into these vaults today and they are virtually empty. All that gold has been transferred out of London, 26 million ounces...." To find out where it has gone and why it is never coming back, watch the clip below.(spoiler alert: listen for the line: "the Chinese don't want US dollars anymore, they want gold"
I originally wrote this in September 2013. It is just as relevant now in December. The big news in America is that the rate on the 10-year Treasury bond has risen dramatically from around 1.6% to over 2.9% [now on December 5, 2.84%]. This is 130 basis points from a starting point of 160, or…
Whether it is a question of gold and silver as a hedge, an industrial commodity or simply a straight contrarian stock trade, the J.P. Morgan team thinks now is the time to look hard at six top gold and silver stocks.
By Greg Hunter’s USAWatchdog.com (Early Sunday Release) Money manager Eric Sprott says the economy is going to tank in 2014. Sprott, who has $8 billi
Gold investors are well aware of the restrictions India imposed on its gold market, like increasing import duties. In this post I want to step back and have a look at what India has done, and more importantly, what policy options it may still have up its sleeve.
As U.S. stocks rose to record levels in the past few months, a flurry of pundits have come out of the woodwork to claim – and deny – that stocks are experiencing another bubble.
Fiat Money Quantity hits new record
Jim: Do you feel the debt ceiling debate and the political theater in Washington are hurting U.S. credibility and our capital markets in the long-run?
Demand for gold bars, coins and jewelry increased to multiyear highs in the first half of 2013, but was offset by outflows from exchange-traded funds, according to the World Gold Council, which produces a quarterly Gold Demand Trends report and recently released the first-ever Direct Economic Impact of Gold report. Sprott Securities founder Eric Sprott questioned those statistics in a callout on his website. He figures that the demand for gold is actually 3,000 tons more than the annual supply, and therefore the gold price will soon be much higher. What is the true demand for gold? How much is really available in any given year? Does supply and demand really determine the price of gold anymore? The Gold Report called Sprott and John Gravelle, global and Canadian mining leader for PwC, which produced the report for the World Gold Council, to find out.
Linda Woodford spent the last 15 years of her career inserting phony numbers in the U.S. Department of Defense's accounts. Every month until she retired in 2011, she says, the day came when the Navy would start dumping numbers on the Cleveland, Ohio, office of the Defense Finance and Accounting Service, the Pentagon's main accounting agency. Using the data they received, Woodford and her fellow DFAS accountants there set about preparing monthly reports to square the Navy's books with the U.S. Treasury's - a balancing-the-checkbook maneuver required of all the military services and other Pentagon agencies. For those, Woodford and her colleagues were told by superiors to take "unsubstantiated change actions" - in other words, enter false numbers, commonly called "plugs," to make the Navy's totals match the Treasury's. Jeff Yokel, who spent 17 years in senior positions in DFAS's Cleveland office before retiring in 2009, says supervisors were required to approve every "plug" - thousands a month.
Jason Burack of Wall St for Main St hosted Wall St for Main St's first Legendary Investor's Round Table with Doug Casey and Jim Rogers.
By Greg Hunter’s USAWatchdog.com Dr. Jim Willie, financial writer and Editor of the Hat Trick Letter
Most market watchers expect that Janet Yellen will grapple with two major tasks once she takes the helm at the Federal Reserve in 2014: deciding on the appropriate timing and intensity of the Fed's quantitative easing taper strategy, and unwinding the Fed's enormous $4 trillion balance sheet (without creating huge losses in the value of its portfolio). In reality both assignments are far more difficult than just about anyone understands or admits.
Last month, Americans were transfixed by the amateur theatrics undertaken by the Washington political establishment in connection with the debt ceiling crisis. The bad faith, poor tactics and wholesale avoidance of reality were offered by all players in very large doses. When the Republican leadership finally capitulated (thereby bringing down the curtain on the tawdry production), it soon became apparent that sound and fury had signified nothing except another exercise in can kicking.
IN LATE 1965, President Lyndon Johnson stood in the modest gymnasium of what had once been the tiny teaching college he attended in Texas and announced a programme to promote education. It was an initiative that exemplified the “Great Society” agenda of his administration: social advancement financed by a little hard cash, lots of leverage and potentially vast implicit government commitments. Those commitments are now coming due.
WASHINGTON (AP) — Janet Yellen says the economy has regained ground lost to the deepest recession since the 1930s. But she says unemployment remains too high at 7.3 percent and notes that the Fed is still trying to accelerate the economy's recovery.
The playbook in the next crisis will be the same as it was in past crises from 2008 to 1987, 1929, 1907, 1893, 1857 and so on. The run on the banks becomes systemic as no one institution is spared. Credit markets freeze, the economy goes south, millions lose their jobs, and other millions have their savings decimated. Expect it to happen again.
ormer Assistant Treasury Secretary Paul Craig Roberts says, “The country is not being run by the President. It is being run by spy agencies and private interest groups, Wall Street and military security complex . . . They run the country. The President is a puppet, a figurehead.” Dr. Roberts contends, “If you are a lawless state, which the United States is, it obeys no international law. It does not obey the Geneva Convention . . . It tortures people. It doesn’t obey the Constitution. It doesn’t obey anything.
We who advocate the free market as the sure path to peace and prosperity often hear that the US economy has to get much, much worse before any real reforms will be allowed. Why must we continue to wait before taking serious action to throttle back parasitic government? A common response is that we need to wait until things are so bad that no one will be able to deny that government is the problem and not the answer. Then even died-in-the-wool socialists will give the free market a chance.
Never before has the world faced such a serious debt crisis. Yes, in the past there have certainly been nations that have gotten into trouble with debt, but we have never had a situation where virtually all of the major powers around the globe were all drowning in debt at the same time.
University of Missouri students wearing Republican and Tea party inspired T-shirts were turned away at the door of their campus auditorium where president Obama was set to speak on the economy Wednesday.
The U.S. House of Representatives on Wednesday voted down a amendment that sought to de-fund a major domestic surveillance program that allowed the NSA to collect in bulk the telephone records of all Americans. The amendment was put forth by Justin Amash (R-MI) and co-sponsored by John Conyers (D-MI) required the FISA court under Sec. 215 of the Patriot Act to order the production of records that pertain only to a person under investigation.
The Detroit bankruptcy has been called an American tragedy, and one of the most heart-wrenching financial stories of our time. But according to Ron Paul, America's biggest-ever municipal bankruptcy could actually give gold bulls something to cheer about.