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Banks using Funding for Lending Scheme to ‘rip off’ customers

Banks have been accused of using the Government’s taxpayer-backed cheap credit scheme to rip off customers by cutting rates on savings accounts more than on new loans.

The claim comes after Andrew Bailey, head of prudential regulation at the Financial Services Authority, told MPs yesterday that interest rates for borrowers had not come down “to the same extent” as those paid on deposits. He said “the jury is still out” on [...]

The Coming Financial Pandemic: Stocks Will Go Sideways For Another Decade, Food-Price Crisis Signals Imminent Hyperinflation, US DOLLAR COLLAPSE IN PROGRESS, And Banks Could Cause Another Crash.

Vitaliy Katsenelson: Stocks Will Go Sideways For Another Decade

Stock prices have more than doubled since their lows of March 2009.

But when you look at the stock market since 2000, prices have effectively gone nowhere.

And Vitaliy Katsenelson, author of The Little Book of Sideways Markets, believes stocks could go sideways for another decade.

Click Here To See Katsenelson’s Presentation >

“12 years into this sideways market, valuations are still 30% above the historical average, while in 1982 [...]

GLD for example, the largest gold ETF in the world, do you actually own gold? The answer is NO.

Time now for Word of the Day where we break down a financial term for our smart viewer but maybe not the financial expert. Today it’s ETF or Exchange-Traded Fund. By attracting those looking to invest in nontraditional assets and sectors, the global ETF market has inflated to more than a trillion dollars in assets over the past few years…some put that number now at about 2 trillion dollars. David [...]

Financial expert – A debt avalanche is on the way

Cologne-based financial strategist Philip Vorndran says inflation is the only way out of the European debt crisis. But that would not only shrink debt, it would also slash people’s savings.

DW: You recently published a book entitled “The Debt Avalanche” – referring, of course, to the debt crisis in Europe. If we picture an avalanche, where are we right now? At the bottom of the mountain, which means the avalanche hasn’t [...]

Lagarde and Sarkozy in new corruption inquiry

The pair already face allegations that Miss Lagarde, the head of the International Monetary Fund (IMF), authorised a £270?million payout to a prominent supporter of the former French president when she was his finance minister.

Now, they face a separate inquiry in a row over the amount of compensation that Mr Sarkozy’s government should have paid following the collapse of Itea, an insurance company, in 2009.

Xavier Musca, a financial expert, is [...]

AOL:Financial Expert on Why Buying a Home Is a Bad Idea

The idea that buying a home might be a totally bad investment is a hard statement to digest. Hedge fund manager and Huffington Post contributor James Altucher made big internet waves last week with his declarative and super-viral post stating: “Why I Am Never Going to Own a Home Again.”

The kind of guy to make a lofty statement like that and then follow it up with an extensive and pretty good argument [...]

Chinese ‘gold rush’: Country diversifying assets

China is the world’s fifth-largest holder of gold and seems to be in the market for more. Analysts believe Beijing snapped up around 500 tons of gold in 2011, double what it bought in 2010.

China does not release official gold trade figures, but the Hong Kong Census and Statistics Department announced last month that in November alone, China imported 102,779Kg of gold from Hong Kong which comes as a significant [...]

Eddie Hobbs – TV3 – The Euro Collapse

Uploaded by OYMInternetRadio on Nov 10, 2011

Ireland’s Financial Expert Eddie Hobbs advising people to get out of the Euro as it is going to collapse.

‘ZOMBIE’ IN FEDERAL BUDGET MAKES ‘PHANTOM CUTS’

From AP:

WASHINGTON (AP) — They’re calling it the zombie in the budget.

It’s a long-term care plan the Obama administration has put on hold, fearing it could go bust if actually implemented. Yet while the program exists on paper, monthly premiums the government may never collect count as reducing federal deficits.

Real or not, that’s $80 billion over the next 10 years.

The Community [...]

German Central Bank Opposed to Geitner’s plan

The new Bundesbank president, Jens Weidmann, used to be one of Merkel’s closest advisers. Now, he is one of her staunchest critics over the euro rescue. He is strictly opposed to the European Central Bank’s policy of buying up bonds from debt-stricken countries — and is winning a growing number of allies for his cause.

Nightmarish Idea

What Geithner and the Obama administration view as a particularly [...]

Greeks act to avert bank failure

From FT:

Greece’s four largest banks agreed to take up a €50m convertible bond to help recapitalise Proton Bank, a small lender, the central bank announced this weekend, in what is being seen as an attempt to avert a run on the country’s fragile banking system.

The deal came ahead of an expected announcement this week that several Athens lenders plan to seek emergency liquidity assistance from [...]

World Depression: Special Report

Infowars.com
August 11, 2011

In this 50 minute special Infowars Nightly News report webcast last night at 7 PM CST on PrisonPlanet.tv, Alex Jones interviews financial expert Max Keiser from Paris, France, and talks with Paul Joseph Watson from the UK.

Keiser and Jones break down the engineered global economic depression designed to take nation states to their knees in preparation for an authoritarian world government lorded [...]

Rich Dad, Poor Dad, Prepper Dad? Even Robert Kiyosaki Is Warning That An Economic Collapse Is Coming

Are you familiar with Robert Kiyosaki? He is best known for the “Rich Dad, Poor Dad” series of books. Over 26 million books authored by Kiyosaki have been sold and he is recognized as a financial expert by millions of people across the globe. Well, guess what? Even Robert Kiyosaki is warning that an economic collapse is coming. In fact, Kiyosaki and his team [...]

Shhh, can you hear that? It’s the sound of our fiat currency breaking…

South Carolina lawmakers are proposing a bill that would give the state another form of legal tender.

Sen. David Thomas, a Republican from Greenville, wants to make gold and silver coins another option in the Palmetto State. Lawmakers are calling it the Sound Money Legislation.

“I’m no financial expert but am I smart enough to know that you can’t keep printing money when it has no backing,” says SC [...]

Now on ABC World News Nightly’s Money Segment (sponsored by Charles Schwab):

by TruthInSunshine

Lester Holt: Stocks lost a little momentum today, and bonds sold off, too. For more on this, we’re bringing in our resident Wall Street & Financial expert, James Cramer, to help us understand what is going on.

Thanks for joing us, Jim.

James Cramer: Good to be on, Lester. Thank you.

Lester Holt: What is happening out there, Jim?

James Cramer: Basically, this is a non-event. The economy is firing [...]

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