By Michael
What is going to happen when the greatest economic bubble in the history of the world pops? Themainstream media never talks about that. They are much too busy covering the latest dogfights in Washington and what Justin Bieber has been up to. And most Americans seem to think that if the Dow keeps setting new all-time highs that everything must be okay. Sadly, that is not the case at all. [...]
It is generally well known that the major new york banks and hsbc are naked shorting gold and silver, aka selling contracts that they do not have the gold and silver inventory to deliver on if the buyer asked for delivery.
On the other hand the privately owned central banks of the world are taking delivery of gold and so this puts the lie to bernankes trashing of gold, but of [...]
The Nikkei 225 has gone up like 40% since JANUARY!.
Money is flowing out of the bond market.
The Yen has devalued 25% this year.
25% devaluation when the year is almost halfway over is pointing towards something. I wonder if we will see more of this same trend, only growing exponentially faster.
In Weimar Germany, the stock market was one of the first refuges as people exited cash and bonds.
Let’s put it this [...]
A sinkhole measuring nearly 85 meters wide and 15 meters deep engulfed three houses in a town outside Russia’s fifth-largest city Nizhny Novgorod as some residents of the small village were slumbering.
One of the houses in the town of Buturlino was completely demolshed. Residents managed to escape the building a few minutes before it literally collapsed like a house of cards on Wednesday night.
“I just barely left the house as [...]
By Michael
The next Great Depression is already happening – it just hasn’t reached the United States yet. Things in Europe just continue to get worse and worse, and yet most people in the United States still don’t get it. All the time I have people ask me when the “economic collapse” is going to happen. Well, for ages I have been warning that the next major wave of the ongoing [...]
A sinkhole measuring nearly 85 meters wide and 15 meters deep engulfed three houses in a town outside Russia’s fifth-largest city Nizhny Novgorod as some residents of the small village were slumbering.
One of the houses in the town of Buturlino was completely demolshed. Residents managed to escape the building a few minutes before it literally collapsed like a house of cards on Wednesday night.
“I just barely left the house as [...]
‘Euro is a house of cards waiting to topple’- Nigel Farage
According to Nigel Farage, leader of the UK Independence Party, northern EU leaders realize they risk vast losses if they allow Cyprus, Greece or any other southern member to fail. To prevent this, they have resorted to extreme measures – even theft.
RT: Every bailout comes with strings attached. But can Cyprus afford the price the EU has set?
Nigel Farage: What is really [...]
by SGT,
Andy Hoffman of Miles Franklin is back to dissect all of the chaos in Cyprus and the inevitable COLLAPSE of the European Union, which in case anyone has forgotten, will probably be led by Greece with $500 Billion in debt, followed by the Trillions owed by Italy and France. Cyprus, although in serious trouble, is just a zit on the arse of the gigantic shaky house of cards known as the [...]
by Michael
Why is the global economy in so much trouble? How can so many people be so absolutely certain that the world financial system is going to crash? Well, the truth is that when you take a look at the cold, hard numbers it is not difficult to see why the global financial pyramid scheme is destined to fail. In the United States today, there is approximately 56 trillion dollars [...]
Sinclair – The Later, Greater Depression
his article says, “The US encounters its most sluggish growth levels since the Great Depression.” Huffington as a source is most credible.
Has it occurred to anyone that we might be in a later, greater depression that has been hidden by liquidity and MSM MOPE, but is in fact unfolding?
Remember what I told you on more than one occasion, “If you could have lied in 1930 [...]
Stocks Are Tumbling
Dow /quotes/zigman/627449 13,882 -105 0.75%
Nasdaq /quotes/zigman/12633936 3,140 -27 0.87%
S&P 500 /quotes/zigman/3870025 1,502 -10 0.67%
GlobalDow /quotes/zigman/629063 2,102 -12 0.54%
Gold /quotes/zigman/8702781 1,669 -10 0.58%
Oil /quotes/zigman/2291769 96.48 -0.13 0.13%
Initial Claims Miss For Second Week In A Row As Nonfarm Productivity Tumbles Most Since 2008
…
more importantly, the BLS also reported Q4 unit labor costs and nonfarm productivity and as a result of the previously reported adjustments to worker data and negative GDP print, it [...]
The house of cards that is Europe is close to collapsing as those widely held responsible for solving the Crisis (Prime Ministers, Treasurers and ECB head Mario Draghi) have all been recently implicated in corruption scandals.
Those EU leaders who have yet to be implicated in scandals are not faring much better than their more corrupt counterparts. In France, socialist Prime Minister Francois Hollande, has proven yet again that socialism doesn’t [...]
by Phoenix Capital Research
The following is a excerpt from a recent client letter.
The house of cards that is Europe is close to collapsing as those widely held responsible for solving the Crisis (Prime Ministers, Treasurers and ECB head Mario Draghi) have all been recently implicated in corruption scandals.
Those EU leaders who have yet to be implicated in scandals are not faring much better than their more corrupt counterparts. In France, socialist [...]
A recent appointment of Rothschild as “financial advisor” by the Board of Directors of gold exploration company Spanish Mountain Gold is yet another unmistakable indication that the ancient family is moving the world’s gold supply to both “emerging markets” and Central Banks worldwide, strengthening the family’s monopoly position when the fiat-based house of cards comes crashing down in the West.
http://www.infowars.com/house-of-rothschild-hoarding-gold-in-face-of-coming-collapse/
Russian Gold Reserves Up 8.5% In 2012 – Palladium Reserves “Exhausted”
Russia, [...]
Jurriaan Maessen
Infowars.com
Jan 28, 2013
A recent appointment of Rothschild as “financial advisor” by the Board of Directors of gold exploration company Spanish Mountain Gold is yet another unmistakable indication that the ancient family is moving the world’s gold supply to both “emerging markets” and Central Banks worldwide, strengthening the family’s monopoly position when the fiat-based house of cards comes crashing down in the West.
The Board of Directors of the British Columbia [...]
by Phoenix Capital Research
This is going to be a very special holiday season. The reason? It’s the last hurrah before things get very very ugly.
Just off the cuff, you need to know that:
1) China, the EU, and the US (comprising over 50% of Global GDP) are in recession already. The EU has already announced this. Look for the formal announcements concerning the US and China to hit the airwaves next [...]
by Phoenix Capital Research
With most of Wall Street on vacation, those few traders manning their desks are taking advantage of the low volume to push the market sharply higher. This, combined with a large move up by the Euro has pulled the entire risk trade up forcing the US Dollar lower.
This move was to be expected on some levels. Since 2002, there has been a rally from just before Thanksgiving [...]
 A wave of pessimism has swept over the economy, IF you think November Data is bad wait until January!
US Capital Spending Plummets To Recession Levels
from Zerohedge:
Back in April, we did an extensive analysis of what, in our opinion, is the primary reason for the slow burn experienced by the US, and global economy, and why virtually every liquidity pathway used by central banks is hopeless clogged: the complete lack of capital [...]
 Conditions are so bad, they are just plain bad. (Sandy and California gas crisis are just the catalyst this time) I believe anything which can trigger the collapse of consumer spending and slowdown in economic activity will crash the stock market because the institutions will suddenly begin betting on a fall in the oil price and then stock market.
THE NEXT RECESSION WILL BE TRIGGERED BY OIL
At this point, watch the price of oil if [...]
 Gerald Celente – Expect A Tidal Wave Entrance Into Gold
Today top trends forecaster Gerald Celente discussed gold at length, as well as other important trends with King World News. Celente is the founder of Trends Research, and the man many consider to be the top trends forecaster in the world. Celente predicted, “a tidal wave entrance into gold,” because “the entire financial system is in collapse.” But first, here is what Celente [...]
From Resource Investor:
… It is simple enough. The next stage of the financial crisis just has to be a bond market crash and much higher global interest rates, and a flight to precious metals. The bullion banks know this and want to be there holding all the gold and silver when that happens.
Gold and silver will be the best asset a bank can have on its books when the paper [...]
The crux of the “pain for Spain” was exposed in August, when the world learned that despite all attempts to the contrary, Spanish banks are no longer perceived as safe by the locals, and the result was a record 5% deposit outflow in one month from local banks: cash that was promptly redeposited elsewhere in the Eurozone. And as money flow theorists know all too well, if cash is exiting the Spanish [...]
Earlier today we casually wondered whether the US stands to lose more by supporting China or Japan in their escalating diplomatic spat, considering the threat of a US Treasury sell off is certainly not negligible, a dilemma complicated by the fact that as today’s TIC data indicated both nations own almost the same amount of US paper, just over $1.1 trillion. In a stunning turn of events, it appears that China has [...]
According to Bloomberg the Banks have started a new scheme to get more money invested in derivatives. Since they make a commission every time a derivative is created, they are salivating for ways to allow more money to come into this market. Hence the “collateral transformation” desk at JPM and 6 other banks.
Why “collateral transformation”? Because customers have run out of available treasuries and money to buy more derivatives.
How does [...]
Testosterone Pit
The Eurozone wasn’t supposed to be a house of cards.
And as long as there was “confidence” that it would work, it worked: the financial markets offered cheap no-questions-asked loans to the most profligate governments, and even tiny countries like Cyprus were able to suck up and disperse in record time phenomenal amounts of money.The elites got immensely rich, and even other members of society were able to pick up [...]
ALBANY, N.Y. (AP) — A person with knowledge of the matter tells The Associated Press that the attorneys general of New York and Connecticut have issued subpoenas to seven banks over the possible manipulation of an important global interest rate.
http://hosted.ap.org/dynamic/stories/U/US_LIBOR_BANKS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT
Basically, LIBOR is the house of cards indeed:
“At least $350 trillion in derivatives and other financial products are tied to the Libor.”!
The LIBOR Banking Scandal Explained
http://newsusa.myfeedportal.com/i/libor-scandal/0/5
Wolf Richter www.testosteronepit.com
They only bubble up rarely, these scandals at the Federal Reserve System, but when they do, they’re doozies, involving huge amounts of money, massive conflicts of interest, all-out manipulation, collusion, favoritism, dizzying cronyism…. And yet, over the 100 years that the Fed has existed, it has done an excellent job in one of its other primary functions, maintaining the dollar, which has lost only 96% of its value—instead of [...]
1. Dire conditions will plunge at least one PIIGS country into economic chaos;
2. Merkel will hold a critical “summit” meeting with France, Spain, Italy, and perhaps others, where they will sip cognac whilst discussing the need for more bailouts and more firewalls;
3. These “landmark” summits happen as often as once or twice per month as one or more of the PIIGS threaten contagion, therefore demanding urgent action;
4. However, all of [...]
by Chris Martenson of Peak Prosperity
Paul Brodsky: Central Banks Are Nearing The ‘Inflate Or Die’ Stage
“It’s impossible to have a political solution to a balance sheet problem” says Paul Brodsky, bond market expert and co-founder of QB Asset Management.
The world has simply gotten itself into too much debt. There are creditors that expect to be paid, and debtors that are having an increasingly difficult time making their coupon payments. No amount [...]
Patrick Chovanec, An American Perspective From China
I was quoted today by the BBC on today’s announcement that China will relax some of its restrictions on foreign investment in its domestic stock market. You can read my comments here, and I’m also going to talk about it live on BBC TV at 6:30am Friday morning Beijing time (6:30pm Thursday NY time).
The big story today, in my opinion, is the report issued by Citron Research accusing [...]
The U.S. has never before had a President who thinks so little of the American people that he imagines he can win re-election running on the opposite of reality. But that is the reality of President Obama today.
Waving a planted press commentary, Obama recently claimed on the campaign stump, “federal spending since I took office has risen at the slowest pace of any President in almost 60 years.”
Peggy Noonan aptly summarized in [...]
“It was a house of cards and it collapsed in the most destructive, worst crisis that we’ve seen since the Great Depression,” Obama said. “And sometimes people forget the magnitude of it. You know, you saw some of that in the video that was shown. Sometimes I forget.”
Mitt Romney’s press secretary, Andrea Saul, responds: “It’s not surprising that a president who forgot to create jobs, forgot to cut the debt, [...]
1. It is an election year.
2. Government budgets are already in a shambles and in debt.
3. Government pension plans are heavily underfunded.
4. Government pension plans are heavily invested in the market.
5. If the market goes down, pensions will need to pull more from the general fund – which is already deeply in debt.
If the market goes down the house of cards collapses now. Too soon to the election. Wait for [...]
Should our fine financial system cease functioning cash will become a rare and precious medium. Over the years Americans have exchanged paper currency with confidence. Yet, today everyone’s cash is a digital value out of hand. Our vast nationwide cash money market holdings greatly exceed any paper currency supply making any Bank run a momentary event. Should the financial house of cards crash, holders of green back US Dollars will [...]
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