German Central Bank Admits that Credit is Created Out of Thin Air

(WashingtonsBlog) – Most people think that banks lend solely from their base of deposits. Some also know that with fractional reserve banking, they can loan out many times more than they actually have in reserves. Continue reading

Video: California the canary in coalmine of US economy

State Controller John Chiang issued a stern warning Friday about California’s cash reserves, telling legislative leaders and Gov. Arnold Schwarzenegger they must act on nearly $9 billion in budget cuts the governor is seeking by March — or the state will run out of cash to pay its bills. — Denis C. Theriault Mercury NewsContinue reading

USGS claims Venezuela sits on Earth’s largest oil reserves

(RawStory) – Venezuela may have just become the center of an energy-starved world.
The Orinoco Belt, situated squarely underneath the South American nation, may hold some 513 billion barrels of crude oil, according to a new report by the U.S. Geological Survey (USGS). Continue reading

Haiti Has Larger Oil Reserves Than Venezuela Say Scientists (An Olympic Pool Compared to a Glass of Water)

I have heard rumors that Haiti has vast oil reserves — and that the globalists want these reserves. However, the globalists cannot get the reserves, because the oil belongs to the Haitian people. So the globalists do not allow the Haitians to exploit the oil reserves, because it would allow the Haitian people to prosper. It would allow the Haitians to build proper infrastructure, so that 7.0 earthquakes do not have such a devastating effect. Continue reading

Oil in Haiti – Economic Reasons for the UN/US Occupation

(PakAlert) -There is evidence that the United States found oil in Haiti decades ago and due to the geopolitical circumstances and big business interests of that era made the decision to keep Haitian oil in reserve for when Middle Eastern oil had dried up. Read More Here

MSM: Russia diversifies into Canadian dollars

(FinancialTimes) – Russia’s central bank announced on Wednesday that it had started buying Canadian dollars and securities in a bid to diversify its foreign exchange reserves. Continue reading

Video: Food Shortages This Year! Want to know why the media is not covering this?

If you read any economic, financial, or political analysis for 2010 that doesnt mention the food shortage looming next year, throw it in the trash, as it is worthless. There is overwhelming, undeniable evidence that the world will run out of food next year. When this happens, the resulting triple digit food inflation will lead panicking central banks around the world to dump their foreign reserves to appreciate their currencies and lower the cost of food imports, causing the collapse of the dollar, the treasury market, derivative markets, and the global financial system. The US will experience economic disintegration. Continue reading

MSM: Venezuela, China Sign Oil Deals

(WSJ) – Venezuela and China gave a new boost to their thriving economic ties Tuesday, signing a package of agreements that advances China strategy of locking in access to the South American country’s vast oil reserves. Continue reading

CHINA: ‘The world does not have Money to buy more US Treasuries’

(ShanghaiDaily) – It is getting harder for governments to buy United States Treasuries because the US’s shrinking current-account gap is reducing supply of dollars overseas, a Chinese central bank official said yesterday. Continue reading

MSM: Beijing official urges gold, crude-oil purchases

(MarketWatch) – China should use the shockwaves created by the Dubai crisis as an opportunity to buy gold and oil, a senior Chinese official who helps oversee some of the nation’s biggest enterprises was quoted as saying Monday. Continue reading

Chomsky: Obama Continues Bush Policy

Political activist Noam Chomsky says that although President Obama views the Iraq invasion merely as “a mistake” or “strategic blunder,” it is, in fact, a “major crime” designed to enable America to control the Middle East oil reserves. Continue reading

Money Supply Timebomb and Fiscal Nightmare – Campaign for Liberty

The government has seized and spent so much in just the last year that it’s easy to focus on the issues of the day, losing track of the big picture. In this article I want to step back and survey the incredible growth, from the perspective of monetary policy and then fiscal policy. The situation is dire indeed. Continue reading

Video: Oath Keepers

Learn about how the Oath Keepers, a non-partisan association of currently serving military, reserves, National Guard, veterans, Peace Officers, and Fire Fighters, have sworn to uphold the Constitution and not follow unlawful orders to oppress the American people. Continue reading

Iran to completely drop dollar from foreign exchange

(PressTV) – Iran’s Trade Promotion Organization has announced a near future plan to completely exclude the US dollar from the country’s foreign revenues and reserves. Continue reading

MSM: Dollar Reaches Breaking Point as Banks Shift Reserves

(Bloomberg) – Central banks flush with record reserves are increasingly snubbing dollars in favor of euros and yen, further pressuring the greenback after its biggest two- quarter rout in almost two decades. Continue reading

The REAL Battle Over America’s Banking System

The battle to reform the American banking system needs to include reimposing the barrier between investment banking and depository banking (Glass-Steagall), pay incentives based on what is best for Americans and not just the top executives, the end of too big to fail, and other changes which are frequently discussed by financial writers. These are vital issues. Continue reading

Dollar Hysteria – Mike Whitney

Robert Fisk has set off a firestorm with his unsettling narrative which appeared in Tuesday’s UK Independent titled, “The Demise of the Dollar”. The article went viral overnight spreading to every musty corner of the Internet and sending gold skyrocketing to $1,026 per oz. Continue reading

Iran Replaces The US Dollar With The Euro… And So It Begins

Iran’s President Mahmoud Ahmadinejad has ordered the replacement of the US dollar by the euro in the country’s foreign exchange accounts. Continue reading

2 Nobel Economists Confirm that Credit is NOT Created Out of Excess Reserves

We’ve all been taught that banks first build up deposits, and then extend credit and loan out their excess reserves.
But critics of the current banking system claim that this is not true, and that the order is actually reversed.
Sounds crazy, right? Continue reading

Economic Duplicity: Recession and Record Profits

In December 14, 2008, in his interview on the CBS sixty minutes show, Whitney Tilson an investment fund manager predicted that the subprime collapse was only half way of the total real estate bubble, and that the second half will begin take place around 2010 and will continue until about the year 2013. Tilson also discussed the two fancy Wall Street terms for bad mortgages namely Alt-A (Alternative-A paper) and option arms mortgages. These loans lured borrowers with teaser rates that will begin to reset this year. Continue reading

Derivatives Collapse and the China Gold and Silver Markets

(BobChapman) – In 2009, China opened up various exchanges for investment in both gold and silver to the Chinese public, which previously was not allowed to invest in gold and silver. The opening of silver exchanges to the Chinese public is the most recent development and was accompanied by a ban on silver exports. The Chinese government is actively touting both gold and silver as an investment to the Chinese public, and with good reason. Continue reading

Video: Fkn Newz – Libya Lockerbie Megrahi & Oil

WARNING – Explicit Conent
-Libyan Oil free from prison early on commercial er compassionate grounds.
-Europe celebrates outbreak, continuation and profit from war on the world.
-Afghan election marred by difficult questions, crumbling fantasy and death. Continue reading

Will endless wars save the dollar?

“Since 1945, the US dollar has been the world reserve currency. As its value depreciates, countries holding huge dollar reserves begin to worry. China in particular has expressed grave concerns since it holds nearly $2 trillion in US currency reserves, mostly in the form of US treasury bonds. According to some reports, it is drawing down its dollar reserves by purchasing gold and stocks of raw materials and energy.” Continue reading

Mass Layoffs: The Continuing Devastation

Stock market investors shrug off a disaster in our midst: mass layoffs. Investors act as though it will soon be business as usual. Companies cut costs by firing employees that have been with them for decades. Then the companies can report higher earnings from cost-cutting measures. The media then proclaim an increase in earnings. But how will these increases be sustained? How will an unemployment rate of 11% help get the economy back on its feet? Continue reading

Eager to Tap Iraq’s Vast Oil Reserves, Industry Execs Suggested Invasion

Two years before the invasion of Iraq, oil executives and foreign policy advisers told the Bush administration that the United States would remain “a prisoner of its energy dilemma” as long as Saddam Hussein was in power. Continue reading

U.S. Beats War Drum as Iran Dumps the Dollar

The seemingly ever escalating rhetoric against Iran by U.S. officials took another step forward today. A senior military official leaked to the press plans to publicly reveal the evidence of weapons caches found in Iraq which can be directly traced back to Iran. Continue reading

Russia’s Central Bank says it will sell US treasuries and eyes IMF bonds

Russia’s Central Bank says it plans to cut reserves it holds in U.S. Treasuries and invest in International Monetary Fund bonds instead, a senior official said Wednesday. Continue reading

De-Dollarization: Dismantling America’s Financial-Military Empire

The city of Yakaterinburg, Russia’s largest east of the Urals, may become known not only as the death place of the tsars but of American hegemony too – and not only where US U-2 pilot Gary Powers was shot down in 1960, but where the US-centered international financial order was brought to ground. Continue reading

If You Are Stressed Now, Just Wait – Policymakers Have Created A Perfect Storm

(Paul Craig Roberts) – Economic news remains focused on banks and housing, while the threat mounts to the US dollar from massive federal budget deficits in fiscal years 2009 and 2010. Continue reading

MSM: Russia warns of war within a decade over Arctic oil and gas riches

(TIMES) – Russia raised the prospect of war in the Arctic yesterday as nations struggle for control of the world’s dwindling energy reserves. Continue reading

MSM: China Increases Gold Reserves 76% to Fifth-Largest

(Bloomberg) – China boosted its gold reserves by 76 percent since 2003 and has the world’s fifth-biggest holding by country, said Hu Xiaolian, head of the State Administration of Foreign Exchange. Continue reading

Obama Economic Adviser Warns Spending Could Create Double Digit Inflation

Harvard economist Martin Feldstein tells FOX Business Network Fed creation of ‘high-powered’ reserves will result in inflation, higher taxes. Continue reading

The Fed and the Golden Fleece

Inflation has dramatically devalued the dollar this last century, reminding us that the central bank is anathema to sound money. Continue reading

MSM: A ‘Copper Standard’ for the world’s currency system?

Hard money enthusiasts have long watched for signs that China is switching its foreign reserves from US Treasury bonds into gold bullion. They may have been eyeing the wrong metal. Continue reading

IDF planning largest-ever drill to prepare Israel for war

The Home Front Command is preparing to hold the largest exercise ever in Israeli history, scheduled to take place in about two months, in hopes of priming the populace and raising awareness of the possibility of war breaking out. Continue reading

MSM: US backing for world currency stuns markets

US Treasury Secretary Tim Geithner shocked global markets by revealing that Washington is “quite open” to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary Fund. Continue reading

MSM: Canada Military Revamps Domestic Defense

Reserve soldiers training for terror attacks, disasters on home soil Continue reading

China’s spending spree likely to include Canadian companies

Asia’s dealmakers say a Chinese resource spending spree will accelerate throughout the next 12 months, with Canadian mining and energy companies likely on the shopping list. Continue reading