Today Bill Fleckenstein told King World News, “…the central banks of the world, and in particular the Fed, are close to where they are going to panic and do something big.” Fleckenstein, who is President of Fleckenstein Capital, also said, “What I am salivating over is the chance to really press my gold position. I think the next leg is going to be really, really powerful.” Here is what Fleckenstein [...]
Earlier we joked that some people thought today’s rally was the result of the election outcome in Wisconsin last night.
Well, serious people think so too.
James Grant, of Grant’s Interest Rate Observer, was just on CNBC, and this is what he told Maria Bartiromo:
“…Today i think part of the source of the levitation was the Scott Walker triumph in Wisconsin.”
“People maybe are discounting the prospects of a return to something like freer if [...]
With major markets around the world continuing to get hit, today King World News interviewed James Turk out of Europe. Turk told KWN the situation in Europe is deteriorating and the banking system is being severely tested. Turk also discussed gold and silver, but first, here is what Turk had to say about the crisis in Europe: “The situation here in Europe is rapidly deteriorating, Eric. Moody’s downgrade of 26 Italian banks [...]
It is a fact that when it comes to the oddly resilient Japanese hyperlevered economic model, the bodies of those screaming for the end of the JGB bubble litter the sides of central planning’s tungsten brick road. Yet in the aftermath of last month’s stunning surge in the country’s trade deficit, this, and much more may soon be finally ending. Because as Caixin’s Andy Xie writes “The day of reckoning for [...]
We have been saying it for weeks, and today even the WSJ jumped on the bandwagon: the sole reason why crude prices are surging (RIP European profit margins: with EUR Brent at a record, we can only assume the ECB will pull a 2011 and hike rates in 3-4 months even as it pumps trillions in PIIGS, banks bailout liquidity) is because global liquidity has risen by $2 trillion in a few short months, on [...]
Remember, back in the day, when a bankruptcy was simply called a bankruptcy? Naturally, this was well before ISDA came on the scene and footnoted the living feces out of everything by claiming that a bankruptcy is never a bankruptcy, as long as the creditors agree to 99.999% losses at gunpoint, with electrodes strapped to their testicles, submerged in a tank full of rabid piranhas, it they just sign [...]
by Brandon Smith of Alt Market
Sausage The Riot Dog Coming To America?
Who would have thought it possible? Greece, a tiny country on the Mediterranean which is, in the grand scheme of things, economically insignificant, has become the centerpiece of the global financial media and the “make or break” sovereign debt battle for the entire European Union. Let’s face it; Greece dominates [...]
LONDON (Commodity Online): Noted global economic analyst and investor Marc Faber says gold is the best investment among commodities and there is no harm in investors amassing the yellow metal even at these high prices.
In his latest June outlook on the global economy, Faber asked investors to stay away from industrial commodities. “Global growth is slowing, which means weaker demand and lower prices for industrial [...]
Last year’s Russia Forum was one of the must see events of the year, pitting such high powered independent thinkers as Marc Faber, Hugh Hendry, Nassim Taleb in a free for all. While the cliffhanger back then was the suggestion by Hendry that he had recreated the Paulson ABX trade with “1.5% downside and 75% upside” (which has since not been fully revealed aside [...]
(Hyper) inflation to the extent of diluting creditor savings isn’t in the play book. Repossession (deflation) has always been in the cards after the wild securitization (inflation).
Let’s put this aside for a moment and consider sales. How do you get someone to agree with your decision? Why, you get them to first initiate an idea so that you are merely agreeing with them. Now, consider [...]
Hyper-inflation is a mirage. There’s just no way to get money into the hands of people. The Government is going to save the banks – not the people. If they were serious about generating inflation and taking the ankle-weights off of those treading water, they’d be talking about massive debt relief and tax relief programs to get cash back out into the economy.
That is NOT what they’re doing. A controlled [...]
We are at the early stages of a deflationary collapse!
In 2008 the money supply was in free fall because defaults were destroying debt based money. The reason that defaults were destroying money is because that debt used as money had very little real collateral s when the borrower defaulted the collateral did not cover the loan so banks wrote off money. So alot went broke. Bear Stearns, then Lehmans [...]