by Nile Gardiner, The Telegraph:
I have just read a staggering report written by my colleagues Patrick D. Tyrell and William W. Beach for the Heritage Foundation’s Center for Data Analysis (I direct the Margaret Thatcher Centre for Freedom at Heritage.) It is a real eye-opener for anyone who cares about America’s future as the world’s superpower, on either side of the Atlantic. Ironically, Britain, through the tremendous determination of Iain Duncan [...]
WHY GOLD WILL ERUPT
Intervention, manipulation and suppression
We have gold intervention, manipulation and suppression by governments, banks and hedge funds. We have a paper market in gold which is around 100 bigger than the physical market, facilitating this market intervention.
Governments dislike gold since it reveals their deceitful actions in destroying the value of paper money by printing unlimited amounts of it. The media don’t understand gold. Financial TV ridicules gold and [...]
Many who rail against the costs of higher education and the massive debts that most graduates carry point out that this drives graduates toward high-paying but potentially socially irresponsible jobs, like investment banking or private equity or a hedge fund, or really anything that pays well in this day and age, but is probably slowly gutting our economy.
And jobs like this are in New York, San Francisco and Boston and [...]
Tucked beneath towering cliffs on Madeira’s storm-battered west Atlantic coast, the €50 million Marina do Lugar de Baixo aimed to provide the perfect welcome for super-luxury yachts.
Unfortunately, thanks to the huge waves that have fractured the harbour wall three times since it was built in 2005, not even the more adventurous yachtsmen have often been tempted, never mind passing billionaires in floating palaces.
Today it lies abandoned, a chain blocking the [...]
Yesterday I dropped by to see my personal banker at my small, highly rated, local bank. She’s the district manager now so I thought she would have a finger on the pulse of the local economy. “How are people doing”” I asked.
“It depends,” she answered. “Some have their house paid off and no debt and they are doing okay, But some . . .” she frowned and looked at a loss for words.
“But some [...]
If you watch a good amount of financial news or read a number of newspaper or magazine articles, then you have likely already heard the warning bells being sounded concerning the situation of the U.S. government and its increasingly unsustainable debt. What you may not have heard about is the fact that this poses a very real threat to the global supremacy of the American [...]
From Gold Core
Gold to Rise on $14.3 Trillion U.S. Debt Limit Increase– Bloomberg Chart of the Day
Gold is flat in U.S. dollars and New Zealand dollars but marginally lower in most currencies today as increased risk appetite has seen risk assets rally despite poor fundamentals. Most Asian indices were higher, except the Chinese and Indian markets, and European indices have also risen.
Gold is trading at [...]
The paper-driven sell off in the gold market seen in January has been trumped by continuing robust physical demand in January and February. This has resulted in gold rising nearly 6% in February and silverâ€™s strong industrial and investment demand leading to a 19% rise to new nominal 30-year highs.
Gold in USD â€“ 6-Month (Daily) and 150-Day Moving Average
Political, and [...]
Credit defaults swaps hit new highs across Europe as leaders desperately try to stop economic contagion across countries with massive debts mostly because of bailing out the banksters and using quantitative easing to boost their economies, any countries using these techniques risks sovereign debt crisis and economic collapse:
Asian Markets Start With Big Selling, While Euro Just Keeps Heading Lower
Following the big US market tank, Asian markets are picking up the [...]
One consideration missing in the comparison between US and Greek debt is that the focus has been on only public debt. The problem that the US has is that because of the huge private debt load, the ability to carry more debt, public and private is far more limited than Greece.
Furthermore, the liquidation of debt by retirees for expenses and and the drive for rents by other returees is [...]
About this time last month, I warned that the U.S. could be near bankruptcy. Simon, who I donÃ¢â‚¬â„¢t always see eye to eye, commented Ã¢â‚¬Å“Ã¢â‚¬Â¦US will never default as long as USD is global trading currency.Ã¢â‚¬Â
Friday, Harvard professor and former IMF chief economist Ken Rogoff says the United States has been in Ã¢â‚¬Å“defaultÃ¢â‚¬Â before, when it went off the gold standard, and there is no reason why it wonÃ¢â‚¬â„¢t [...]