Layout of the full article :
1. World recession in sight
2. The banks’ doubtful business
3. Tax haven all hell
4. Neo-protectionism between regional blocs
5. Emerging nations’ strategy in gold
6. The Fed’s last bullets
7. Euroland : national unity governments and the ECB to the rescue
8. High risk strategies
This public announcement contains chapters 1, 2 and 5.
World recession in sight
There is no shortage of indices for that. Europe is already in recession. Exports from China, often considered “the workshop of the world”, are falling heavily (see chart below) and the benchmark signals are contracting or slowing down dangerously (1) with, additionally, a major credit bubble (2).
The bank’s doubtful business
Nevertheless, all the banks know that a new storm is on the horizon and are using all the means at their disposal (more or less legal) to shelter themselves, and anything goes, including between the banks themselves. It’s in this light that it’s necessary to look at the various banks’ amazing first quarter balance sheets making it possible to draw in investors, or at least to defer the debacle, or the mid-April crash in the gold price clearly caused by one or more of these financial institutions.
These rough battles in the middle of a full economic upheaval will leave their mark and the weakest or most affected banks will not come through the storm undamaged, especially as the financial centres are now facing a new adversary, countries themselves.
Emerging nations’ strategy in gold
However, physical gold itself has its best days ahead. China has clearly understood this and buys gold en masse (12).
Because this is the BRICS strategy: gradually building a world system where they would have greater representation, especially by moving from the dollar and using their own currencies for trade. And in stages, this movement which can seem slow but which in reality is extremely rapid on the level of the changes to be made, allows the centre of world gravity to be moved, and the emerging nations are becoming increasingly essential as the world moves forward. This is the essence of the “global systemic crisis” described and anticipated step-by-step by the GEAB for the last seven years.
Obviously, this movement can only take place having a corollary: the loss of influence in the West and in particular the United States.
(3) Source : Atlantico, 10/05/2013.
(4) Source : CNBC, 09/05/2013.
(5) Source : ISM-Chicago, 30/04/2013.
(6) For other similar signs, read for example ZeroHedge (08/05/2013).
(7) Source : ZeroHedge, 08/05/2013.
(8) Source : ZeroHedge, 08/05/2013.
(9) The bank is being sued by the state of California (source : New York Times, 09/05/2013) and soon by the FERC (source : Financial Times, 08/05/2013) which has the commodities unit run by Blythe Masters in its sights. To believe CNBC(03/05/2013), this affair is just a settling of scores between friends…
(11) Source : ZeroHedge, 02/05/2013.