Tag Archives: currency
Economy
(InternationalForecaster) – Central Banking in Crisis: Some Twenty Countries on the Verge of Insolvency – Bob Chapman
Market Volatility as the Debt Implosion Continues Read More Here
(GlobalResearch) – Financial Crisis Conducive to Instability of Asia’s Currency Markets: South Korea Imposes Currency Controls – Read More Here
(GlobalResearch) – “Dying Detroit”:: The Impacts of Globalization. Social Decay and Destruction of an Entire Urban Area – Read More Here
(GlobalResearch) – The Gold Market: When Will the SEC Prosecute for Market Rigging? – Read More Here
(Telegraph) – Lord Rothschild fund joins World Gold Council to put £12.5m into BullionVault
Tim Levene of Augmentum Capital, a fund backed by Lord Rothschild’s RIT Capital Partners, said the investment was not a bet on the gold price but on “the future growth of the BullionVault platform”, which stores physical gold for private clients in London, New York and Zurich. RIT currently has 9pc of its assets in physical gold. Read More Here
(FoxBusiness) – New Home Sales Fall 33% in May to Record Low
The U.S. housing market is in crisis.
A day after a disappointing read on the market for existing homes, the government said Wednesday that sales of new homes fell to their lowest level on record last month, a potentially crushing blow for an economy that is still looking for its footing. Read More Here
(PragCap) – Russell: This is One of the Largest Tops in Stock Market History
Mr. Russell thinks we might be on the verge of a terrible collapse:
“We’re now in the process of building one of the largest tops in stock market history. The result, I think, will be the most disastrous bear market since the ‘30s, and maybe worse. Read More Here
(VoiceInTheWilderness) – Is America Destined to Starve?
Americans are no longer prepared to take care of their basic needs without the involvement of the federal government. The majority of Americans have relinquished the responsibility of their future survival to bureaucrats. How and when did we, as an intelligent and formerly self-reliant populace, decide to become wards of the state? Read More Here
REPOST – (LATimes) – Video: California city to lay off all city employees, dismantle Police Department – Video Link Here
(Reuters) – World’s rich got richer amid ’09 recession: report
A stock market rebound helped the world’s ranks of millionaires climb 17 percent to 10 million, while their collective wealth surged 19 percent to $39 trillion, nearly recouping losses from the financial crisis, according to the latest Merrill Lynch-Capgemini world wealth report. Read More Here
(DealBook) – Despite U.S. Plea, European Bank Pushes Austerity – Read More Here
Climategate
(RoySpencer) – The Global Warming Inquisition Has Begun – Read More Here
(FinancialTimes) – Obama to push climate change on back of BP spill
Barack Obama will on Wednesday make a renewed push to spur the US Senate into action on climate change, saying the BP oil spill underlines the urgency for the country to lessen its dependence on fossil fuels. Read More Here
Economy
(WPost) – 8 House members investigated over fundraisers held near financial reform vote
The Office of Congressional Ethics is investigating eight lawmakers who held fundraisers within 48 hours of a major House vote on a Wall Street reform bill or received substantial donations from business people with a financial stake in the bill, according to congressional sources and letters. Read More Here
(Money&Markets) – Two Consequences of the Stimulus Programs Washington Wants You to Ignore! – Read More Here
(BullionBullsCanada) – Fannie Mae Proposes Bulldozing U.S. Homes – Read More Here
(EconomicPolicyJournal) – Bank Run in Spain and Its Destabilizing Ramifications for the Entire EU
According to FT, Spanish banks borrowed €85.6bn ($105.7bn) from the ECB last month. This was double the amount lent to them before the collapse of Lehman Brothers in September 2008 and 16.5 per cent of net eurozone loans offered by the central bank. Read More Here
(InternationalForecaster) – The Fed’s Purchase of US Sovereign Debt: “The US Treasury is under the Control of the Fed’s Owners”. – Bob Chapman
US, UK and European financial systems are on the way to collapse Read More Here
(MarketWatch) – U.S. home building craters after tax break expires
Housing starts fell 10% to a seasonally adjusted annual rate of 593,000 in May, the lowest level since December. The details were even worse, as starts of single-family homes plunged 17% to a seasonally adjusted rate of 468,000, the lowest in a year. Read More Here
(LewRockwell) – Amnesty for the Banksters, Debtor’s Prison for the Serfs – Read More Here
(SoColPatriotsClub) – House Democrats Drop Ron Paul’s Audit of Federal Reserve
Yes, you read that right. Ron Paul’s push to audit the Federal Reserve Bank and see who received how much money in the last few years has been drastically reduced. Read More Here
Video: The Greecing of America, Simplified
The repercussions from Greece’s fiscal crisis are starting to ripple around the world. But are lessons being learned? – View Video Here
REPOST – (RussiaToday) – Video: Greece was used as trojan horse by Washington and Goldman Sachs, to damage Eurozone
“The whole attack on Greece and the attack on the euro originated from a concerted strategy of Wall Street and US Institutions to permanently cripple or try to cripple the only alternative reserve currency anywhere in the world that can challenge the dollar,” Engdahl told RT. Video Link Here
Video: Instead of budgeting, Congress is….
With all of the attention on the BP oil spill, the European debt crisis and even financial regulatory reform, the fact that Congress hasn’t passed (and will likely not pass) a federal budget for fiscal year 2011 is flying under the radar. View video Here
(WPost) – More college-educated jump tracks to become skilled manual laborers – Read More Here
(LewRockwellShow) – Podcast: We Ain’t Seen Nothin’ Yet – Lew with Gerald Celente
What does the state-bank-military complex plan next? As the second stage of the financial crisis hits, says Gerald Celente, we can expect them to start another war to divert people’s attention from the wholesale robbery of the productive. Listen to Podcast Here
(LewRockwell) – Bailing Out Politicians Now? – Patrick J. Buchanan – Read More Here
(WRMEA) – U.S. Financial Aid To Israel: Figures, Facts, and Impact – Read More Here
(MarketWatch) – Fannie, Freddie to scrap NYSE stock listings – Read More Here
(EconomicPolicyJournal) – Bloomberg Considering Former-Goldman Man for Deputy Mayor – Read More Here
REPOST – (Snard) – More Than 1 In 5 American Children Are Now Living Below The Poverty Line
Perhaps the greatest victims of the economic nightmare that is unfolding right in front of our eyes are our children. Read More Here
(AlterNet) – “Lure People Into That Calm and Then Just Totally F–k ‘Em”: How All of Us Pay for the Derivatives Market
Derivatives are a hotbed of abuses and bailouts. So why are taxpayers footing the bill? Read More Here
(Infowars) – Why You Should Buy Gold and Silver – Mark Dice – Read More Here
(FinancialSense) – Gold Going to Parabolic Top of $10,000 by 2012 – For Good Reasons
No wishful thinking here! As I see it gold is going to a parabolic top of $10,000 by 2012 for very good reasons – sovereign debt defaults, bankruptcies of “too big to fail” banks and other financial entities, currency inflation and devaluations – which will all contribute to rampant price inflation.
Not surprisingly, I have company in that view: Continue reading
Economy
(GoldScents) – STILL JUST A BABY BULL
It’s sad to say but I’m afraid 90/95% of all retail traders/investors are not going to successfully ride the gold bull. The reason of course is that they are deathly afraid of draw downs. It’s glaringly apparent every time gold pulls back or suffers the slightest correction. Immediately a slew of traders come on the blog and warn of impending doom. “Gold is going to $600” (think Elliot wave). Some are even brave (maybe I should say ‘foolish’) enough to short. Here is one we hear alot lately, “miners are going to get crushed if the stock market enters a new leg down in the secular bear market”.
Pure nonsense!
Let me show you what happened to gold and miners during the 2000-2003 bear market. Read More Here
(Alternet) – Why Banks Try to Make Borrowers Feel Like Sinners When They Can’t Pay off Their Mortgages
Crazy views about homeownership are helping the very bankers who screwed us in the first place. Read More Here
(TheComingDepression) – World economies on verge of currency revaluations to deal with debt
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” — Henry Ford
Basically what the world central banks are doing is increasing their money by devaluing it (printing more than it’s worth) and giving it to banks so that they can lend it. Then, when things pick up, simply take the money back and destroy it. Read More Here
(Telegraph) – Euro ‘will be dead in five years’
The euro will have broken up before the end of this Parliamentary term, according to the bulk of economists taking part in a wide-ranging economic survey for The Sunday Telegraph. Read More Here
Economy
(TheStar) – European debt fears batter TSX
Fears that the effects of a government debt crisis could push Europe into a severe economic downturn sent the Toronto stock market tumbling Monday. Read More Here
(ComedyCentral) – Video: The Daily Show with John Stewart on Hoarders – Video Link Here
U.S. Debt Clock – View Clock Here
(ChartingStocks) – Why Gold And The Dollar Are BOTH Rising
An unusual dynamic has taken shape over the last few months – Both the US Dollar and Gold have been rising together. Normally, such a movement would seem counter intuitive as Gold is a commodity and commodities tend to move in the opposite direction of the US dollar. Read More Here
(FT) – Financial Crises Getting Worse Worldwide
The pace and severity of financial crises has taken an ominous turn for the worse. Over the past 30 years, a crisis has occurred, on average, every three years. Yet, now, only 18 months after the meltdown of late 2008, Europe’s sovereign debt crisis has hit with full force. With one crisis seemingly begetting another, and the fuse between crises now getting shorter and shorter, the world economy is on a very treacherous course. Read More Here
(Reuters) – Sears and Kmart to offer cash-for-gold service
Sears Holdings Corp (SHLD.O), which expanded its layaway program to help cash-strapped consumers pay for purchases during the recession, is now helping its customers exchange their jewelry for cash as gold prices soar. Read More Here
(Bloomberg) – `There’s No Money Left,’ U.K. Minister Learns From Predecessor
Arriving for work at the U.K. Treasury last week, the incoming chief secretary, David Laws, found a note from his predecessor, Liam Byrne, offering advice on the job.
“Dear Chief Secretary, I’m afraid to tell you there’s no money left,” Laws cited it as saying. Read More Here
Implode-O-Meter: Vicious Cycle – View Meter Here
(Bloomberg) – ‘There’s No Money Left,’ U.K. Minister Learns
Arriving for work at the U.K. Treasury last week, the incoming chief secretary, David Laws, found a note from his predecessor, Liam Byrne, offering advice on the job.
“Dear Chief Secretary, I’m afraid to tell you there’s no money left,” Laws cited it as saying.
“Which was honest,” Laws, whose position is the No. 2 in the Treasury after the chancellor of the exchequer, told a press conference in London today. “But slightly less than I was expecting.”
The note underscores the task facing Britain’s Conservative-Liberal Democrat coalition as it seeks to reconcile demand for improved health and education services with promises to reduce the largest budget deficit since World War II. Read More Here
(May 16) – Video: Alex Breaks Down “Death of The Middle Class” on Alex Jones Tv Sunday Editon
Alex breaks down the international banking cartels continued plunder of the middle class here in america and how far they will go. – Part 1 Here Part 2 Here
(TimesOnline) – Germans lose faith in EU
The multi-billion-euro payout for Greece, followed by an even more expensive rescue package for the threatened single currency, has created the greatest political climate change in a generation. Read More Here
(Bloomberg) – Stocks, Euro Plunge on Concern Austerity Plans to Curb Recovery
Asian stocks fell the most in almost six months, led by the Shanghai Composite Index’s 5 percent plunge, the euro dropped to its lowest against the dollar since 2006 and the cost of insuring bonds from default jumped on concern European austerity measures will derail the recovery. Read More Here
(PaulWatson) – Financial Terrorists Want Global Currency, Global Central Bank
During a recent speech at a conference of elitists in Zurich Switzerland, IMF chief Dominique Strauss-Kahn called for the introduction of a global currency backed by a global central bank which would act as the “lender of last resort” in the event of a severe economic crisis, which would represent another lurch towards fascist centralization of power by financial terrorists busy exploiting the fiscal chaos they created in order to impose world government.
Stating that “crisis is an opportunity,” Strauss-Kahn said that globalists should exploit the financial chaos plaguing the world in order to push for “a new global currency issued by a global central bank”. Read More Here
(BusinessInsider) – Germans Fantasize About New Rich-Nation Currency Bloc That Doesn’t Even Include France
Tonight’s must-read comes from Ambrose-Evans Pritchard at The Telegraph who offers some clear views on why the EU’s big shock & awe rescue plan is not having its desired result — why it hasn’t fully instilled confidence. Read More Here
(EconomicCollapseBlog) – The Extreme Frustration Of Unemployed Americans
When Barack Obama visited Buffalo recently, he was greeted by a billboard advertisement with a very pointed message about unemployment. In just a few words it summarized the frustrations of an entire region. The billboard along I-190 had this very simple message for Obama: ”Dear Mr. President, I need a freakin job. Period. Sincerely, inafj.org.” As word about this billboard got out, it quickly made headlines all over the United States. Why? Well, the truth is that millions of hard working Americans are extremely frustrated about their lack of work right now. When you don’t have a job and you can’t provide for your family, very little else seems to matter. In fact, according to a recent Gallup poll, unemployment is now the second most important issue to American voters. The number one issue is the economy. Read More Here
(AFP) – Euro rescue package ‘just buys time’: Merkel
A trillion-dollar package to shore up ailing eurozone economies merely buys time until the deficits of certain members of the 16-member zone are cleaned up, German Chancellor Angela Merkel said Sunday. Read More Here
(SilverBearCafe) – Rigging the Markets – How They Do It
While the rest of the financial world struggles, it might seem strange that four of the largest US banks have made record profits this past quarter – and not just on average, but every single trading day. Too good to be true? Indeed. Read More Here
(HuffingtonPost) – Detroit’s Unemployment Rate Is Nearly 50%, According to the Detroit News
As many have noted, the Bureau of Labor Statistics, which culls federal unemployment data, does not account for all of the jobless in its widely-quoted national unemployment figures. Among those omitted: part-time workers who are looking for full-time jobs and frustrated job seekers who abandon their job search altogether. Read More Here
(BeverlyHillsCourier) – Flood Of Calif. Businesses Abandon State
Numerous California businesses are packing up their bags and trading in the blue skies and hot weather to head east.
The Courier obtained a copy of the businesses leaving California this year. They are: Read More Here
(SKOptionsTrading) – Where next for Gold?
So far in 2010, all eyes in the gold market have been looking up at $1225 wondering whether gold get back to that all time high? Now that question has been answered yet another arises, where next for gold? Read More Here
(SteveWatson) – Video: Ron Paul – Those Who Voted Against Audit The Fed Will Pay The Price
Texas Congressman Ron Paul appeared on CNBC’s Squawk Box earlier today to discuss the financial crisis and his ongoing effort to audit the Federal Reserve.
Paul, speaking publicly for the first time since the Senate passed a watered down version of his HR1207 amendment to fully audit the Fed, said that those who had essentially voted for more Fed power would see repercussions. Continue reading
Video: Food Crisis 2010 and US Dollar Impact
(SicSemperTyrannis) – There has been lots of talk about a coming food crisis due to the massive looting of the nations under the cover of an “economic crisis”. Recently, a report published by The Trumpet has shown food prices spinning out of control.
In the article it shows some of the most startling year-over-year price increases in the U.S. markets: Continue reading
Video: Ron Paul – Euro Bailout Will Lead To Currency Collapse
(PaulWatson) – As Europe is bailed out to the tune of nearly $1 trillion dollars, Congressman Ron Paul warns that the constant monetization of debt, allied with taxpayer-funded bailouts, will inevitably lead to runaway inflation and the collapse of paper currencies.
Under the terms of the Federal Reserve’s credit swap deal with the EU – in addition to an additional IMF bailout of which U.S. taxpayers will be picking up 20 per cent ($57 billion dollars) of the tab, Paul pointed out that not just taxpayers but “anybody that buys anything” will be funding the European bailout because of the attendant inflationary consequences. Continue reading
More Tyranny Plus More Taxes Equals More Protests – Chuck Norris
(TownHall) – As early as 1733, Colonial frustrations were felt against the British Parliament via the Molasses Act. Indignation grew over the decades, erupting in 1764, when Parliament enacted the Sugar Act and the Currency Act. But it was not until 1765, when Parliament levied the first direct tax upon the Colonies via the Stamp Act, that larger protests permeated all 13 Colonies. And though that tax was repealed in 1766, the appeasement was short-lived. Parliament passed the Townshend Acts beginning in 1767, placing a tax on a number of essential goods, including paper and tea — something which, in turn, led to the Boston Massacre in 1770, the Boston Tea Party in 1773, the Intolerable Acts and the First Continental Congress in 1774 and, of course, the Declaration of Independence in 1776. Continue reading
Poland’s Leaders Move to Weaken Currency, Then Die in Plane Crash
(GovernmentAgainstThePeople) – There’s no telling if the two events are connected, but their timing is mighty interesting.
The Polish government and the National Bank of Poland, in a “rare moment of unity,” agree to weaken Poland’s currency, the zloty, in an act that would benefit Poland’s exporters at the expense of Poland’s trading partners—that is, the European Union, among others. Then, the next day, Poland’s president and the president of its national bank die in a plane crash. Continue reading
Video: Andrew Maguire finally exposes systemic fraud by CFTC & JPMorgan
I don’t ask for my videos to be forwarded and spread often, but this is one that really needs to get out there. This is the only video with all the currently known information that I know of. Thanks for rating, commenting, favouriting, and sharing this extremely important info! Continue reading
Economy
(PhilStockWorld) – Bombshell: Whistleblower Steps Forward On Gold Market Manipulation – Reports Violations to the CFTC
Do we have another Harry Markopolos here, describing in detail the manipulation of the gold market by J.P. Morgan to the CFTC? How does this square with the testimony today from the CFTC Commissioners, who seem to indicate that the markets are functioning extremely well, and that investor can have full confidence in them? Read More Here
Coping With A Personal Financial Crisis – Read More Here
(Rense) – The Scary, Scary Social Security ‘Crisis’ is Back!
The New York Times weighed in today with a dire warning that this year, six years ahead of what had been predicted only a few years ago, the Social Security system would be (cue scary music) paying out more in benefits than it takes in from the payroll tax. The reason for this earlier-than-anticipated event is the Great Recession, the paper explained. Read More Here
(Gata) – A London trader walks the CFTC through a silver manipulation in advance
On March 23, 2010, GATA Director Adrian Douglas was contacted by a whistleblower by the name of Andrew Maguire. Maguire is a metals trader in London. He has been told first-hand by traders working for JPMorganChase that JPMorganChase manipulates the precious metals markets, and they have bragged to how they make money doing so. Read More Here
(Bloomberg) – Hoenig Says Removing Bank Oversight Would Worsen Future Crisis
Federal Reserve Bank of Kansas City President Thomas Hoenig said a proposal to strip the Fed of supervision over 5,000 banks would worsen the next financial crisis by denying policy makers information about the firms. Read More Here
(AIM) – Who’s Behind the Financial Crisis?
The New York Times is quoting a spokesman for George Soros as saying that the well-known hedge fund operator is guilty of no wrong-doing in connection with the financial upheaval currently affecting Greece and Europe as a whole. But Zubi Diamond, author of the powerful new book, Wizards of Wall Street, says the agenda of Soros and other short sellers is clear. Their purpose, he says, is “to loot America and any foreign country which invested in America. Greece was one of them. Iceland was ravaged and annihilated.” Read More Here
(Reuters) – FACTBOX-US current, proposed law on currency manipulation
U.S. senators have introduced new legislation that threatens China with punitive duties if it fails to lift the value of its currency, boosting pressure on the Obama administration to take action under existing law. Read More Here
(USAToday) – Study: Retired couple will need $250,000 for health care
Relief to seniors facing high prescription drug costs is one of the first changes to come under the health care overhaul. But that won’t offset the relentless increase in retirees’ medical expenses. Read More Here
(GlobalResearch) – Financial Fraud in America. Wall Street: The Next Big Fight
In Britain, the police are raiding Hedge Funds to bust insider traders. In America, the Hedge Funds are still raiding us, even as public opinion calls for a crackdown on Wall Street. One recent poll, in a nation that seems so divided on everything, showed 82% for aggressive action. 82%! Read More Here
(NewsDay) – Officials: Obama budget will cut senior housing funds
Funding for elderly housing would be cut in President Barack Obama’s proposed budget for next year in a way that could affect as many as 1,000 low-income seniors living in rental units on Long Island, Sen. Charles Schumer warned Wednesday. Read More Here
(IND) – Berlusconi: Euro ‘screwed everyone’
Silvio Berlusconi launched an astonishing attack on the euro yesterday when he blamed the Europe’s single currency for Italy’s economic woes in the starkest comments to date, saying it “screwed everybody”. Read More Here
(AP) – Video: Does New 10% Tanning Tax Discriminate Against Whites? – Continue reading
Video: 2nd American Revolution Update, The Information WAR and Crony Socialism
Russia, Greece, Chile, and the Narcissism of Harvard Debt Lords
(Infowars) – Today marks the beginning of a new administration in Chile as Harvard economist and billionaire Sebastián Piñera eked out a narrow victory in January. Interestingly this is related to the rest of the world as we also see today Greek police, dressed in the Darth Vader costumes used in every country, cracking down hard on their poor countrymen. They have been robbed by the elite financier/politician tag-teams that roam the world attacking whichever country and currency they choose. Continue reading
Economy
(Bloomberg) – Obama Spending Plan Underestimates Deficits, Budget Office Says
President Barack Obama’s budget proposal would create bigger deficits than advertised every year of the next decade, with the shortfalls totaling $1.2 trillion more than the administration projected, according to the Congressional Budget Office. Read More Here
(Newsweek) – The Scary New Rich
The global middle class is more unstable and less liberal than we thought. Read More Here
(BusinessWeek) – Russia May Scrap Ruble for New Customs Union Currency (Update3)
Russia may scrap the ruble and introduce a common currency with Belarus and Kazakhstan as the nations broaden their alliance and seek to reduce their dependence on the dollar, a first deputy prime minister said. Read More Here
(BusinessWeek) – Four U.S. Banks Shut Down as Failure Count This Year Reaches 26
Regulators shut banks in Maryland, Illinois, Florida and Utah, pushing the number of U.S. failures to 26 this year and placing more pressure on the Federal Deposit Insurance Corp. to dispose of a growing pile of toxic assets. Read More Here
(Telegraph) – China ready to end dollar peg
The head of China’s central bank has given the strongest signal yet that the country will move away from pegging its currency to the dollar, but he said any changes would be gradual. Read More Here
LAUSD Plans 5,200 Layoffs
In an attempt to close a $640 million funding deficit next year, the LAUSD is moving ahead with teacher layoffs. Read More Here
(NBCConnecticut) – Shaw’s To Lay Off Nearly 1,000
The Shaw’s grocery store chain, which is selling all of its Connecticut locations, says it will cut 967 jobs at those stores. Read More Here
(Telegraph) – Our world balances on a sea of debt
The banks that control the world’s supply of money are no better than counterfeiters – and their system of juggling debt has left the global economy teetering on the brink of ruin. Convicted fraudster Darius Guppy offers a provocative personal view Read More Here
(PicassoDreams) – Percentage of GDP to External Debt: Default is Inevitable
A country’s external debt is defined as the part of the total debt of a country owed to foreign creditors. These creditors may include other banks, governments, corporations, and private individuals. Read More Here
(BusinessInsider) – Europe’s New Debt Solution: Create Their Own Ratings Agency That Only Gives Friendly Ratings
Is your nation under massive financial pressure due to deteriorating sovereign debt ratings? Rising interest costs got you down? Read More Here
Video: Ron Paul – Another Crisis is Coming!
(Fox) – Ron Paul appeared on Fox Business today to discuss the economy and the coming currency crisis. Continue reading
Economy
(ABC) – Head of IMF Proposes New Reserve Currency
Dominique Strauss-Kahn, the head of the International Monetary Fund, suggested Friday the organization might one day be called on to provide countries with a global reserve currency that would serve as an alternative to the U.S. dollar. Read More Here
(BusinessInsider) – Blockbuster Collapses: Shutting Down 500 Stores In Desperate Bid To Save $200 Million
Blockbuster is losing big when it comes to at-home videos, so they are cutting back on expenses and on advertising in the U.S. to make up for it. Read More Here
(Sympatico) – BBC web budget cut by half: report
The BBC has refused to comment on recent reports that it will close two radio stations and scale back its web presence in order to save about $965 million Cdn. Read More Here
(FloridaToday) – 23,000 now expected to lose jobs after shuttle retirement
The local economic forecast tied to President Barack Obama’s proposed NASA budget keeps growing bleaker. Read More Here
The U.S. Personal Income Tax: It Goes to The Family Rothschild
The more people like me speak out about this, the more will scratch their heads and go, “No way!” or “You’re an idiot, Garner!” or, worst of all, “You’re not an American!” Read More Here
(AFP) – Greek PM warns on bankruptcy as crunch looms
Greece risks bankruptcy unless strict austerity measures are enacted fast to cut its deficit, Prime Minister George Papandreou warned on Friday, while reports said the EU wants even more belt-tightening. Read More Here
(CNN) – Jobless benefits start ending on Sunday
Depending on extended unemployment benefits to see you through the Great Recession? Read More Here
Economy
(FinancialTimes) – US senator warns of ‘financial meltdown’ risk
The US is heading for a debt-driven “financial meltdown” within five to seven years, according to Judd Gregg, the outgoing Republican senator for New Hampshire. Read More Here
(SteveWatson) – Prominent Investor: Pound Could Collapse Within Weeks
Billionaire financier Jim Rogers has predicted that the British Pound could completely collapse within weeks, sending shockwaves throughout the global economy and heralding the beginning of a downturn that would make the recent economic crisis look tame in comparison. Read More Here
(WSJ) – The Euro’s Next Battleground: Spain
Greece set off the crisis rattling the euro zone. Spain could determine whether the 16-nation currency stands or falls. Read More Here
(DailyReckoning) – A Real Economic Phenomenon
The depression is alive and well, thank you. Read More Here
(CNN) – The secret lives of America’s debtors
Americans are loaded up with credit card debt. What’s worse is that some husbands, wives and even children hide those money woes from their families. The results are often devastating. Read More Here
(DetroitNews) – Detroit Mayor Bing emphasizes need to shrink city
Mayor says it’s not ‘an easy conversation,’ but people, services must be focused to save city Read More Here
(WashingtonTimes) – Bernanke delivers blunt warning on U.S. debt
Stage is set in U.S. for a Greek tragedy Read More Here
(Bloomberg) – Junk Debt ‘Wall’ to Trigger U.S. Defaults, Bank of America Says
A “wall” of junk debt maturing in the next four years will increase the risk of corporate defaults in the U.S., according to Bank of America Merrill Lynch. Read More Here
(HuffingtonPost) – Freddie Mac 4Q Results: Freddie Mac Posts $7.8 Billion Loss
Freddie Mac lost almost $26 billion last year, ominous news for taxpayers who are footing the bill to rescue the mortgage finance company and its sibling Fannie Mae. Read More Here
(DigitalJournal) – Jim Rogers: British Pound could collapse within weeks
Jim Rogers, Chairman of Rogers Holdings, has once again made a bold prediction and that is the British Pound could quite possibly collapse within the coming weeks. Read More Here
(DailyMail) – Man who broke the Bank of England George Soros ‘at centre of hedge funds betting against crisis-hit euro’
The man who broke the Bank of England in 1992 is said to be at the centre of a plot to cash in on the demise of the euro. Read More Here
(HuffingtonPost) – Jim Bunning Repeatedly Blocks Unemployment Benefits Extension, Tells Dem ‘Tough Shit’
Jim Bunning, a Republican from Kentucky, is single-handedly blocking Senate action needed to prevent an estimated 1.2 million American workers from prematurely losing their unemployment benefits next month. Read More Here
(SeekingAlpha) – Recent Stats Indicate U.S. Economic Recovery Was an Illusion
A number of economic reports in the last few days indicate that the U.S. economy has not only not failed to recover from the recession, but continues to fall deeper into a hole. Read More Here
(Truthout) – Documents Reveal Anthem Blue Cross Manipulated Data to Justify Massive Rate Hike
Internal documents show one of the country’s largest for-profit health insurers, in an effort to maintain profits, manipulated data to justify a rate increase on individual premiums in California this year by as much as 39 percent. Read More Here
(ConnexionFrance) – Seniors march in pensions protest
THOUSANDS of retired people have taken to the streets to call for changes to the way the state pension is calculated. Read More Here
(Cryptogon) – Banks Bet Greece Defaults on Debt They Helped Hide
But first, a quick walk down memory lane: Banks Bundled Bad Debt, Bet Against It and Won: Read More Here
Video: Ron Paul’s Texas Straight Talk on the Greece Bailout
World Currencies to be Replaced with Carbon Currency
(AbelDanger) – Have you stopped to consider why the idea of man-made global warming is being forced on individuals, businesses and nations and why those in the know are positioning themselves to take advantage of a carbon trading system, a system—by the way—created with funds provided to Richard Sandor by the Joyce Foundation when the current President Obama was a director on its board in 2000? Continue reading
Video: Ron Paul tells Ben Bernake “Fiat Currency Always Ends”
(CNBC) – January 29, 2010 Continue reading
Video: Legalize Competing Currencies – Ron Paul
(C4L) – Much has been made recently about the supposed economic recovery. A few blips in a few statistics and many believe our troubles are all over. Of course, they have to redefine recovery as “jobless” to account for the lack of improvement on Main Street. But the banks have money, Wall Street is chugging along, and the administration would like to get on with other agenda. Continue reading
Doug Casey Says Bet Against Wall Street, Bonds, and after a few months the U.S. Dollar
(MakretOracle) – L: Doug, I saw a Wall Street Journal headline a few days ago that boldly proclaimed, “Car Makers May Hire Soon.” Be still, my trembling heart! It’s hard to believe the WSJ would stoop to such a meaningless headline, but I guess they are just trying to give their desperate customers what they want: some hope, whether valid or not. What do you make of the unemployment situation? Continue reading
Video: Why a Dollar Hyperinflation is Inevitable
After the recent devaluation of the currency of Venezuela, why is devaluation of the dollar not a possibility to avoid hyperinflation of the dollar in the United States? In this video I explain why devaluation of the dollar is not something of an option, and hyperinflation is the only real alternative Continue reading
Video: Marc Faber – The Next Crisis, Sovereign Debt
(Yahoo) – After every financial crisis there’s a sovereign debt crisis, Marc Faber says. Countries that borrowed too much during the boom times start struggling to pay their competitors back, and eventually some of them default. Continue reading
Al Gore’s Website Covers UN’s World Currency Coins
(Current) – The announcement by the United Nations this week that it will license the minting of silver and gold bullion coins bearing the UN logo may be the button that launches metal prices into orbit. Continue reading
UN to produce bullion coins as world currency
The announcement by the United Nations this week that it will license the minting of silver and gold bullion coins bearing the UN logo may be the button that launches metal prices into orbit. Continue reading
Video: Ron Paul’s Bill – US behind financial Iron Curtain? – Richard Cook
(RussiaToday) – Private mints in the US are printing gold and silver coins. Congressman Ron Paul would like to see those coins in circulation. If businesses decide to accept these coins, would it mean the end of the dollar? Or just a big mess? Continue reading
Video: The Fed’s Money Monopoly – Ron Paul
(C4L) – Last week, in the name of protecting the little guy from Wall Street, the House passed HR 4173 to increase the little guy’s false sense of security in the financial system. This mammoth piece of legislation would massively increase government regulation and oversight in the banking industry under the misguided reasoning that more government could have stopped faulty lending practices, when in actuality it caused them. This bill would also greatly increase the powers of the Federal Reserve, which too many in Congress still see as savior rather than perpetrator in this mess. Continue reading
MSM: Gulf petro-powers to launch currency in latest threat to dollar hegemony
(LondonTelegraph) – The Arab states of the Gulf region have agreed to launch a single currency modelled on the euro, hoping to blaze a trail towards a pan-Arab monetary union swelling to the ancient borders of the Ummayad Caliphate. Continue reading
Killing the Currency
First under the Bush Administration and even more so under President Obama, the federal government has been seizing power and spending money as it hasn’t done since World War II. But as bold as the Executive Branch has been during this financial crisis, the innovations of Fed chairman Ben Bernanke have been literally unprecedented. Indeed, it is entirely plausible that before Obama leaves office, Americans will be using a new currency. Continue reading
Video: Bob Chapman’s on Alex Jones Tv – A New World Currency Based Upon Carbon!!
Alex also talks about the economy with regular guest and publisher of the International Forecaster, Bob Chapman. Continue reading
MSM: Euros Become Currency of Drug Cartels
(Guardian) – International drug cartels have abandoned the US dollar for high denomination euros to launder millions in illegal profits, Europol has revealed. The gangs no longer use $100 bills because €500 notes – the largest denomination of euro – take up less room when transporting large amounts of cash across the world. Continue reading
Video: The Crash of the Dollar according to Charles Goyette
(YoungTurks) – November 30th 2009 Continue reading
Currency Warfare – Bob Chapman
This past week was one of utmost turmoil in world markets. In the midst of an American holiday, Dubai faced bankruptcy for some $100 billion. Another unsuspected untoward event. The exposure of the Dubai event coming as it did could have been discovered at any given time, thus, we question the timing. We can understand why the London market was off some 300 Dow points, but exposure to Dubai was very limited in Europe, the US and in Asia. Could it have been an excuse to take down the US and European markets and gold and silver? We do not know, but we have come to question everything that happens. Continue reading
MSM: Gold Rises to a Record on Stronger Demand for a Currency Hedge
(Bloomberg) – Gold surged to a record for a second day as investors stepped up purchases to protect their wealth against fiat currencies. Silver also gained. Continue reading
Iran gains $5 bn by shifting from US dollar
(PressTV) – The head of Iran’s Central Bank says the country has gained 5 billion dollars by excluding the US dollar from its currency basket and replacing it with the euro. Continue reading
Our Financial Dependence on China – The Truth Behind China’s Currency Peg
(PeterSchiff) – During President Obama’s high profile visit to China this week, the most frequently discussed, yet least understood, topic was how currency valuations are affecting the economic relationship between the United States and China. The focal problem is the Chinese government’s policy of fixing the value of the renminbi against the U.S. dollar. While many correctly perceive that this ‘peg’ has contributed greatly to the current global imbalances, few fully comprehend the ramifications should that peg be discarded. Continue reading
Video: House Financial Services Committee APPROVES Bill to Audit the Fed (Rejecting Watt’s Fake Alternate) and Votes to Rein In Foreign Currency Swaps
(CSPAN) – Congressman Watt tried to de-rail the bill to audit the Federal Reserve (H.R. 1207) with a fake alternate bill. See this, this, this and this. Continue reading
MSM: Gold hits record near $1,150/oz as dollar slips
(Reuters) – Gold hit a fresh record high near $1,150 an ounce on Wednesday, boosting precious metals across the board, as a dip in the dollar index added to momentum buying as prices broke through key technical resistance levels. Continue reading
Obama’s China Junket: “We’re Opening Doors for Wall Street and Nothing More”
(MikeWhitney) – Barack Obama took Hu Jintao to task this morning, scolding the dejected-looking Chinese leader at a press conference held in Beijing. Obama delivered one ferocious jab after another, claiming that China’s dollar-peg has cost the US millions of high-paying manufacturing jobs while creating gigantic trade imbalances which have destabilized the global economy and thrust the world into severe economic contraction. Continue reading
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