King World News speaks with John Ing about China's plan to monetize gold and Russia's reaction toward this strategy to end Western dominance. Ing also spoke about the currency wars which are breaking out that will only add fuel to the global fire. Also included in the interview is information never reported in Western media such as the massive purchases of physical gold by China and the many[...]
Month: October 2014
Nassim Taleb: Here’s What People Don’t Understand About Ebola
Shane Ferro Oct. 17, 2014, 4:43 PM Multiplication — that’s what people don’t understand about Ebola, according to Nassim Taleb, the author of "Fooled by Randomness" and "The Black Swan." More specifically, Taleb explained to Business Insider that many people talking about the disease don’t "have a grasp of the severity of the multiplicative process." The argument that the US should be[...]
Russians and Chinese are Ditching the Dollar as Europeans Start Using Renminbi in Their Reserves
by Simon Black on October 17, 2014 New York, USA At present, US dollar accounts for roughly 61% of the world’s foreign exchange reserves. It’s still a safe bet for most, not because the currency is actually strong, but because so many others are already so reliant on it. Between those with reserves in and pegs to the US dollar, many countries have given their allegiance, and now have a[...]
Why Nations (and organizations) Fail: Self-Serving Elites
by Charles Hugh Smith For those who doubt that America is ruled by a narrow elite: three charts. The book Why Nations Fail: The Origins of Power, Prosperity, and Poverty neatly summarizes why nations fail in a few lines: (A nation) is poor precisely because it has been ruled by a narrow elite that has organized society for their own benefit at the expense of the vast mass of people. Political [...]
The Real Reason the Global Economy is Such a Mess – and How to Fix It – Steve Forbes
by Steve Forbes The global economy is a mess today because most economists, bankers and political leaders don’t understand that most basic of subjects: money. When it comes to monetary policy, they have it backwards, thanks to the misbegotten ideas of John Maynard Keynes. Before Keynes and like-minded peers, economists understood that the real economy was the creation of products and[...]
Are You Prepared For The Next Round Of The Financial Crisis?
by Graham Summers - October 15, 2014 The 2008 crash was a warm up. Many investors think that we could never have a crash again. The 2008 melt-down was a one in 100 years episode, they think. They are wrong. The 2008 Crisis was a stock and investment bank crisis. But it was not THE Crisis. THE Crisis concerns the biggest bubble in financial history: the epic Bond bubble… which as it[...]
Researchers Expect Over 20 US Ebola Cases In Weeks, “You Don’t Want To Know Worst Case”
As posted today at Zero Hedge: "We have a worst-case scenario, and you don't even want to know," warns Alessandro Vespignani, a researcher creating simulations of infectious disease outbreaks, but there could be as many as two dozen people in the U.S. infected with Ebola by the end of the month. The projections only run through October because it’s too difficult to model what will occur if the [...]
Fund Manager Warns Another Banking Crisis May Be Imminent- “Something Nasty is Going on Behind the Scenes”
Something nasty is going on behind the scenes in the financial system that is not yet apparent. Treasury futures opened in the early evening and the 10-yr traded down to 2.25%. Something has the market incredibly spooked and I find it interesting that the U.S. Treasury Secretary and the UK’s equivalent will be running a big bank fail simulation test next week. The movement in 10-yr Treasury[...]
Ebola In Context: Liberia Needs 80,000 Body Bags & 1 Million HazMat Suits
As appears at Zero Hedge.... Presented with no comment... Excerpted from Liberia Ministry of Health and Social Welfare's Ebola SitRep October 10th 2014 [...]
World Economy So Damaged it May Need Permanent QE
Markets are realising that the five-and-a-half year recovery since the financial crisis may already be over, says Ambrose Evans-Pritchard by Ambrose Evans-Pritchard Telegraph.co.uk Combined tightening by the United States and China has done its worst. Global liquidity is evaporating. What looked liked a gentle tap on the brakes by the two monetary superpowers has proved too much for a fragile[...]