Wolfgang Schaeuble is scared about the enormous amount of money, the central banks have pumped into the markets.
He asks the central banks to collect the cash back. However, these have not the slightest idea how this will go. The central planners dawns on you that the game is likely to lead to banking crash. Therefore, the EU wants to participate savers to banks crashes to avoid a system collapse.
Just wait till it train wrecks the economy. People are already paying more in premiums with another possible 50% increase coming. That will suck a tremendous amount of money out of the economy causing a double dip if not worse.
Poll: Obamacare Support Nosedives To Tie Record Low
Support for Obamacare has hit the lowest level since the bill was passed, the latest Kaiser Health Tracking Poll shows.
Overall, just 35 percent have a favorable [...]
Sinclair: “Yes, Cyprus depositors have now been flushed. The Bank of Cyprus, the island’s largest bank said it has converted 37.5% of deposits exceeding 100,000 euros into a Class A share, with an additional 22.5% held as a buffer for possible conversion in the future.
Another 30% will be temporarily frozen and held as a deposit. So the amount of money that has been taken from the Cyprus depositors is in [...]
In his first TV interview since the company reported record profits, Fannie Mae CEO Tim Mayopoulos told Bloomberg TV’s Peter Cook today that U.S. taxpayers could see a net gain from their bailout as the housing market rebounds. Mayopoulos said, “I do think, given the strength of our future profitability, that it is possible that we will be able to pay dividends that would be equal to or greater than [...]
April 10, 2013
President Obama wants to make sure that people don’t save “more than is needed,” and his budget proposal includes steps that would limit the amount of money individuals can have in their retirement accounts.
President Barack Obama’s budget proposal would cap multimillion-dollar tax-favored retirement accounts like the one held by Mitt Romney, his Republican rival in 2012.
Obama’s budget plan, to be unveiled April 10, would prohibit taxpayers from [...]
Don’t be surprised when the global elite confiscate money from your bank account one day. They are already very clearly telling you that they are going to do it. Dutch Finance Minister Jeroen Dijsselbloem is the president of the Eurogroup – an organization of eurozone finance ministers that was instrumental in putting together the Cyprus “deal” – and he has said publicly that what has just happened in Cyprus [...]
If you still have money in European banks, you need to get it out. This is particularly true if you have money in southern European banks. As I write this, the final details of the Cyprus bailout are being worked out, but one thing has become abundantly clear: at least some depositors are going to lose a substantial amount of money. Personally, I never dreamed that they would go [...]
Your money is debt because that is the creation mechanism behind most money in our fiat currency systems.. in the US, the only bit that is not debt-created is the coinage. The amount of money in the system increases as more debt is taken on, by individuals, businesses, towns, and sovereign states. If everyone stopped taking on debt, and started paying down existing debt, the amount of money in the [...]
CYPRUS: COULD THERE NOW BE A RUN ON SPANISH, ITALIAN & GREEK BANKS?
17 Mar 2013 at 21:02
Well if I lived in Spain. Greece or Italy, do you know what I would be doing tomorrow? Trotting off down to my local bank and withdrawing all my savings and then either stuffing it under my mattress, putting it into a German bank, or buying property or gold with it.
After The Banksters [...]
Cyprus is a beta test. The banksters are trying to commit bank robbery in broad daylight, and they are eager to see if the rest of the world will let them get away with it. Cyprus was probably chosen because it is very small (therefore nobody will care too much about it) and because there is a lot of foreign (i.e. Russian) money parked there. The IMF and the [...]
March 21, 2013
We recently looked at the Federal Reserve’s 2012 results. In particular, we pointed to some positive and negative developments. On a positive note, the Fed managed to shrink down the size of its balance sheet by approximately one-third of a percent. (Hey, it’s a start.) On a negative note, this decrease occurred because banks shifted their holdings of reserves into cash, thus forcing the Fed to sell off some [...]
March 1st, 2013
Last month President Obama made it a point to outline the ever stronger state of our Union.
“Our housing market is healing, our stock market is rebounding, and consumers, patients, and homeowners enjoy stronger protections than ever before,” said Obama of a US economy that, according to the President’s numbers, has added six million new jobs over the last decade.
But as budget woes hit cities and states across America, and [...]
“It depends on how long,” Mr. Bloomberg said on his weekly WOR radio show with John Gambling. “If it lasts a few weeks, no. If it does, yeah. We get 10 or 12 percent of our budget from the federal government, not all of that is going to be cut back, but there would be effects–not good effects. But in the context of, ‘Is anything going to change tomorrow? Are we [...]
“Ladies and gentlemen, for the first time in my life, I am ashamed of my country,” Limbaugh said. “Seriously man, here we get worked up over $44 billion. That’s the total amount of money that will not be spent that was scheduled to be spent this year. … In truth, we’re going to spend more this year than we spent last year. We’re just not going to spend as much as [...]
When people compete for grants, subsidies, and other government handouts, economists see a phenomenon called rent seeking. The “rent” is the money being offered. When government gives money away, the people who compete for it incur costs—sometimes more money will be spent in total trying to compete for a grant than the amount of money being given away. These costs are rarely considered in policymaking, but perhaps they should be. [...]
Does a shadowy group of obscenely wealthy elitists control the world? Do men and women with enormous amounts of money really run the world from behind the scenes? The answer might surprise you. Most of us tend to think of money as a convenient way to conduct transactions, but the truth is that it also represents power and control. And today we live in a neo-fuedalist system in which the super [...]
Iranian satellite news channel announced the central bank has finished the preparation of dropping 4 zeros from Iranian currency strengthening to world level.
For example right now from all sanctions and etc.. 1 US dollar is over 12000 rial and 40000 rial on blackmarket. but if the 4 zeros drop then 1 US dollar will be 1.2 rial and 4 rial respectively.
It will greatly strengthen Iranian economy and release the hardship [...]
by Phoenix Capital Research
The investment world is convinced that China is about to engage in another massive round of stimulus. After all, this is what China did in 2008 when its economy slowed, so surely this is what they’ll do now that the economy is slowing again.
The fact of the matter is that China cannot and will not do this. The reason is that the Chinese Government today is facing [...]
Kentucky Sen. Rand Paul said preliminary details of a potential fiscal cliff deal that emerged Monday are a “deal killer” for him because they don’t slash spending, though he conceded a scaled-back deal could pass both chambers with bipartisan support.
“Not only are they raising taxes — maybe on a smaller percentage of people but a large amount of money — but they’re also going to spend more money,” Paul said. [...]
So here we are starting to see the disturbing reality of the governments spending cuts as councils across the country begin to send the jobless further into poverty. Now we will begin to see just how many people really are on the dole as the torys again light the flame to civil unrest. Although I was a bit young when the poll tax riots kicked off here in the UK [...]
Economy of the United States
The economy of the United States is the world’s largest national economy and the world’s second largest overall economy, the GDP of the EU being approximately $2 trillion larger. Its nominal GDP was estimated to be $15.8 trillion in 2012 , approximately a quarter of nominal global GDP. Its GDP at purchasing power parity is the largest in the world, approximately a fifth of global GDP at purchasing power parity. The U.S. is [...]
Egypt has imposed a limit of £6,000 for people wishing to take money out of the country
Egypt has imposed a limit on the amount of money people can take out of the country, amid fears of an impending run on the banks.
The move to ban leaving with more than £6,000 came as thousands of Egyptians withdrew savings from banks to hoard cash at home.
Anxiety about a deepening political and economic [...]
by Phoenix Capital Research
What 2013 Means For You, Your Portfolio and the Economy at Large
Now that Obama has been re-elected, the BLS and other Government entities have begun to revise all of the positive data from before the November election downward. New jobless claims are back over 400,000. The amazing new home sales of 389,00 from October has been revised back down to 369,000. And a new record has been [...]
And we thought last month’s delayed foodstamp data was bad. The just reported foodstamp number for September was a doozy, with 607,544 new Americans becoming eligible for foodstamps, as a record 47.7 million Americans are now living in poverty at least according to the USDA. The monthly increase was the highest since May 2011, and with August’s 421K new impoverished America, over 1 million Americans made the EBT card their [...]
The amount of money spent on welfare programs equals, when converted to cash payments, about “$168 per day for every household in poverty,” the minority side of the Senate Budget Committee finds. Here’s a chart detailing the committee’s findings:
According to the Republican side of the Senate Budget Committee, welfare spending per day per household in poverty is $168, which is higher than the $137 median income per day. When broken down [...]
Debt Crisis Solutions are Leaving Investors Behind
by Ben Traynor
Wednesday 21 November 2012
How the losses are being paid for…
IT USED TO BE taken for granted that you could put aside some money and earn enough interest to be better off than when you started.
As the world continues to struggle with the aftermath of an enormous credit boom and its subsequent bust, though, this kind of objective seems hopelessly naïve. Events in [...]
from CNS News:
Treasury Secretary Timothy Geithner said Friday that Congress should stop placing legal limits on the amount of money the government can borrow and effectively lift the debt limit to infinity.
On Bloomberg TV, “Political Capital” host Al Hunt asked Geithner if he believes “we ought to just eliminate the debt ceiling.”
“Oh, absolutely,” Geithner said.
“You do? Will you propose that?” Hunt asked.
“Well, this is something only Congress can solve,” Geithner [...]