This event set off the 2008 financial crisis. Now it could be replaying in this country.
The growing risk of default by Shanghai Chaori Solar Energy Science & Technology Co. may become China’s “Bear Stearns moment,” prompting investors to reassess credit risks as they did after the U.S. securities firm was rescued in 2008, according to Bank of America Corp.
“We doubt that the financial system in China will experience a liquidity [...]
MOSCOW, March 6 (RIA Novosti) – Russia’s Western Military District has begun large-scale air defense drills at its southern testing range of Kapustin Yar on the backdrop of further escalation of tensions with the West over Ukraine.
Kapustin Yar, located some 450 kilometers (280 miles) east of the Ukrainian border, will host about 3,500 troops and over 1,000 units of military hardware for about a month. The exercise will culminate with [...]
Today’s AM fix was USD 1,348.25 EUR 971.22 and GBP 805.16 per ounce. Yesterday’s AM fix was USD 1,334.25, EUR 971.57 and GBP 798.00 per ounce.
Gold rose $12.90 or 0.96% to $1,350.30/oz. Silver also rose $0.30 or 1.42% to $21.47/oz.
Gold has continued to edge higher and should achieve a fifth consecutive weekly higher close. This continued rise in gold’s price is bullish from a technical and momentum perspective.
http://usawatchdog.com/weekly-news-wr… - President Obama announced sanctions on anyone “violating the sovereignty of Ukraine” or “stealing the assets of the Ukrainian people.” The Russians said, earlier in the week, they would dump dollars and Treasury bonds and also seize Western assets if sanctions were imposed. Well, it is definitely game on. The Israelis intercepted a load of long range rockets before they were delivered to Hamas in Gaza. According to Israel, these [...]
US productivity slows down, factory order have fallen, more retail stores are closing and major layoffs expected in NY. The FED reports the economy is recovering, houses are up, retail is up, unemployment down. The FED is repeating its remarks that it will take a major economic disruption to curb the taper. Ukraine crisis are escalating and the President is now drawing a red line. A U.S. navy destroyer is [...]
By Michael Snyder
The U.S. government and the Russian government have both been forced into positions where neither one of them can afford to back down. If Barack Obama backs down, he will be greatly criticized for being “weak” and for having been beaten by Vladimir Putin once again. If Putin backs down, he will be greatly criticized for being “weak” and for abandoning the Russians that live in Crimea. In [...]
March 6th, 2014
In recent months ammunition has slowly begun appearing on store shelves at major retailers in the United States. But after nearly two years of shortages that had ammunition manufacturers running their factories 24 hours a day, 7 days a week because of consumer demand and massive government purchases, it appears that another supply pipeline may have been cut.
If you don’t already have it then prepare to go without [...]
Who’s Who of Prominent Economists Agree: Inequality Harms Economic Growth
A who’s who of prominent liberal and conservative economists in government and academia have now said that runaway inequality harms economic growth, including:
Current Fed chair Janet Yellen
Former Fed chairman Ben Bernanke (video continues here)
Federal Reserve chairman from 1934 to 1948, Marriner S. Eccles
Federal Reserve Governor Sarah Bloom Raskin (more)
Former FDIC Chair Sheila Bair
Nobel prize winning economist Joseph Stiglitz
Nobel prize winning economist Paul Krugman
One of America’s leading economists, Robert Shiller
Former chief IMF economist Raghuram [...]
Factory Orders Miss 3rd Month In A Row As Inventories Hit Record High
For the 3rd month in a row, US Factory Orders missed expectations with a major downward revision to December’s data (-2%) and has fallen two months in a row. Inventories continue to rise – up nine of the last ten months to the highest level since records began. Better just hope for all that pent-up demand to flood back or we [...]
Full title: “The Global Curse of the Federal Reserve: How Its Monetary Virus Stimulates Destructive Waves of Irrational Exuberance and Depression”
The Murray N. Rothbard Memorial Lecture sponsored by Helio Beltrão, presented at the Austrian Economics Research Conference. Recorded 21 March 2013 at the Ludwig von Mises Institute. Includes an introduction by Joseph T. Salerno.
Today’s AM fix was USD 1,334.25, EUR 971.57 and GBP 798.00 per ounce.
Yesterday’s AM fix was USD 1,333.50, EUR 971.94 and GBP 799.84 per ounce.
Gold rose $2.30 or 0.17% yesterday to $1,337.40/oz. Silver fell $0.02 or 0.09% at $21.17/oz.
Gold in U.S. Dollars, 1 Year – (Bloomberg)
Gold traded below the highest level in more than four months as investors weighed the crisis in Ukraine against the weakening U.S. economy.
A referendum on the status of Crimea will be held March 16, the region’s deputy prime minister announced. Crimeans will be asked to decide if the autonomous republic stays part of Ukraine or joins Russia.
“The referendum will take place March 16,” said the autonomous region’s First Deputy-Premier Rustam Temirgaliev, according to ITAR-TASS.
The new date is two weeks earlier than the one announced last week.
There will be two questions on the ballots.
The EU is now warning that Italy is facing economic troubles. These economic troubles are spreading all across the EU. American companies are shrinking the number of employees, the ISM gauge reports. President Obama is renewing gun control in his latest budget. CIA has been accused of spying on Senate intelligent staffers. The U.S. is proposing sanctions on Russia and Russia retaliates by saying that they can reduce their U.S. [...]
Published on Mar 5, 2014
Our lead story: With each passing day, the Ukrainian government’s financial condition becomes more dire. Ukrainian officials have said that they need $35 billion over the next two years or they are in deep trouble. They’ll end up defaulting on some of the $136 billion in debt they currently hold, an event that could end up sending shock waves through emerging markets. But after Wednesday, [...]
Service-sector workforce shrinks for the first time in two years
The jobs index in the ISM nonmanufacturing index fell 8.9 points in February, the second largest decline on record.
AMERICAN SERVICE-SECTOR HIRING GOES NEGATIVE
ISM Services Collapse To Lowest In 4 Years – Employment Worst Since Lehman
ISM Services headline index collapsed to 51.6 (missing expectations of 53.5) to its lowest since February of 2010. We are sure many will proclaim this as “weather-related” [...]
The New USA? Secession Movement Gains Steam
Texas Independence Day Highlights State’s Ongoing Secession Efforts
Some Western Md. Residents Want To Form Their Own State
Rural Western Maryland Pushes to Secede from Increasingly Blue State
THIS IS HUGE! GO TO 8:30 MARK TO HEAR THE GOOD STUFF! THIS IS MORE PROOF THAT “MAIDAN” IS RESPONSIBLE FOR SNIPING AND KILLING “BOTH” SIDES! THIS EXPOSES THAT THE WESTERN BACKED “NEW” GOVERNMENT IN UKRAINE IS USING NAZI MAIDAN SOLDIERS TO CAUSE CHAOS , ON JESUIT ORDERS!! MORE INFO AT LINK:
President Putin said he reserved the right to use force to defend ethnic Russians while there’s “no such necessity” at present
Russia vows to switch to other currencies over US sanctions threat
“If sanctions are applied against state structures, we will be forced to recognize the impossibility of repayment of the loans that the US banks gave to the Russian structures. Indeed, sanctions are a double-edged weapon, and if the US chooses [...]
UK and US to send military advisers to Ukraine
• US and Russia to hold talks over Ukraine crisis
• White House: Putin is not ‘unhinged’
• Ukraine raises flag over Donetsk government HQ
13.45 We cannot independently verify, but shocking if true.
The snipers who shot at protesters and police in Kiev were allegedly hired by Maidan leaders, according to a leaked phone conversation between the EU foreign affairs chief Catherine Ashton and Estonian [...]
By Michael Snyder
In recent years, it has been quite common to hear our politicians and top media personalities talk about the need for America to use military force to impose “our values” on the rest of the world. But what “values” could they possibly be talking about? The truth is that we don’t have any “values” worth sharing with anyone at this point. America has become a festering cesspool of [...]
By Michael Snyder
Is the U.S. economy steamrolling toward another recession? Will 2014 turn out to be a major “turning point” when we look back on it? Before we get to the evidence, it is important to note that there are many economists that believe that the United States never actually got out of the last recession. For example, datacompiled by John Williams of shadowstats.com show that the U.S. economy has continually [...]
MOSCOW/SIMFEROPOL, Ukraine (Reuters) – President Vladimir Putin rebuffed a warning from U.S. President Barack Obama over Moscow’s military intervention in Crimea, saying on Friday that Russia could not ignore calls for help from Russian speakers in Ukraine.
After an hour-long telephone call, Putin said in a statement that Moscow and Washington were still far apart on the situation in the former Soviet republic, where he said the new authorities [...]
Our lead story: While most of us don’t often think about the shipping industry, the fact of the matter is almost everything you get from overseas is deeply affected by the business of shipping. This is why a coalition between the world’s three largest shipping companies is worth taking a closer look at.
Switzerland’s Mediterranean Shipping Company, France’s CMA CGM Group, and Denmark’s Maersk Line are all coming together to form [...]