From Liberty Blitzkrieg:
For well over a year now, I have been writing about how this whole “buy to rent” investment strategy is one of the biggest disasters waiting to happen within the U.S. economy.
I have repeatedly noted that these private equity clowns were crowding into these markets with reckless abandon and that this would ultimately crush their business model, as there’s no way rents can rise enough to keep yields [...]
Ryan warns of financial collapse over debt, urges Congress to avert ‘moral failure’
Rep. Paul Ryan issued an urgent call to conservatives Friday to bridle the debt and head off a crisis he described as a looming “moral failure,” defending the budget he introduced earlier this week from a barrage of Democratic attacks.
“We have to tackle this problem before it tackles us,” Ryan said, speaking on the second day of the [...]
by silverdoctors:
The State Oil Fund of Azerbaijan has withdrawn the first ton of its physical gold from JP Morgan vaults, and placed it in their own Central Bank vaults in Baku.
The Fund has announced it will withdraw all of its physical gold assets from JP Morgan warehouses in London.
The game of musical chairs known as bullion banking allocated (rehypothecated) gold storage appears to be rapidly coming to an end.
[Read more...]
The Exact Moment Greece Will Leave the Euro
by Phoenix Capital Research
…the second Greek parliamentary elections in as many months came and went. While the media is making a big deal of the fact that the anti-bailout SYRIZA party didn’t win, the facts remain that the elections haven’t really accomplished anything of significance for Greece’s fiscal condition or the likelihood of it staying within the EU.
What I mean by this is that [...]
It’s all about flow! In fact STOCK actually work’s in the opposite direction. The fact that the Fed already owns Trillions of stock, means they have to SELL it before we talk about moving away from ZIRP and get back to normal. It’s like the lockup period after an IPO.
The government needs to issue $1ttn+ of new debt each year PLUS rollover $2-$3 trillion of maturities. But the smart money has already figured out [...]
Earlier we reported that a German Parliamentary Budget Committee will be considering relocating Germany’s 3,396.3 tons in gold reserves, which total to 42% of Germany’s money held as savings in reserve.
Apparently Chavez moving Venezuela’s gold sparked a worry that “first mover advantage” may be an extremely valuable principle when considering the case of safe guarding the national wealth from multiple paper owners claiming the same gold bars. It’s the same old game [...]
From Gold Scents:
… As you can see by that first chart, a correction is now due. That doesn’t mean that it will begin Monday morning or even this week. What it does mean is that it is now too dangerous to continue playing musical chairs with a market that is at great risk of a sharp corrective move.
The fact is that ever since the dollar put in its three-year cycle [...]
They played the game of musical chairs too long.
Their mistake.
Why not make Europe move a step forward instead of making
it crash?
You could do Mary Anastasia O’Grady across a continent
every bit as effectively as we in the U.S. could do it
here, if we were able to get our TBTF banks’ apologists’
asxxs out of the way.
http://online.wsj.com/article/SB122265260912184329.html
Krugman’s create the prospect of inflation / convince it will
not happen / convince it will anyway
is now [...]
If you still have a good job, you certainly have something to celebrate on Labor Day 2011. So far you have survived the decline of the U.S. economy. But your day may be coming soon. This weekend, there will be millions of Americans that will not be doing any celebrating. They are not enjoying a break from their jobs because they don’t have any jobs. [...]
Twitter pioneers Biz Stone (left), Jason Goldman and Evan Williams are leaving to launch a new startup venture.
NEW YORK (CNNMoney) — Three of Twitter’s key developers– Biz Stone, Evan Williams and Jason Goldman — are launching a new venture.
“Our plan is to develop new projects and work on solving big problems aligned along a simple mission statement: The Obvious Corporation develops systems that help people [...]
by David Pierre
One can only wonder what will go on behind the closed doors of the upcoming G-20 meeting. One thing is for sure, the rest of the world is really pissed at the United States for the fiscal and monetary train wrecks they have caused. From a fiscal standpoint the U.S. has “out-Greeced, out-Irelanded and out-Spained” the rest of the world.
From a monetary standpoint the [...]
“I am afraid that the ordinary citizen will not like to be told that banks can and do create money. Any they who control the credit of the nation direct the policies of government and hold in the hallow of their hands the destiny of the people.â€Â
 Reginald McKenna Past President of Midland Bank of England.
Banks do not lend money they simply create DEBT OUT-OF-THIN-AIR and the amount of DEBT [...]
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