If Greece defaulted, the German people would discover instantly that a large sum of money committed without their knowledge and without a vote in the Bundestag had vanished By Ambrose Evans-Pritchard The political detonating pin for Greek contagion in Europe is an obscure mechanism used by the eurozone's nexus of central banks to settle accounts. If Greece is forced out of the euro in[...]
Month: February 2015
Ukraine “Truce” Fails: Withdrawal Deadline Passes, Debaltseve Situation Deteriorating
UPDATE: *POROSHENKO SAYS UN MUST NOT ALLOW FULL-SCALE WAR IN EUROPE As the game of chicken between Greece and the Eurogroup hots up, it appears another - potentially far more deadly - is escalating in Ukraine as neither side is willing to follow through on the terms of the Minsk Summit peace deal - removing heavy weaponry from the frontlines - as a key deadline passes without agreement. As The[...]
Welcome to World War Three – James Howard Kunstler
In case anyone didn’t get ISIL’s message from their latest video in which 21 Egyptian Coptic Christians have their heads sawn off, here it is: “We’re executioners, not warriors.” Those gouts of blood spilled on a Libyan beach amount to ISIL’s welcome mat to the mass execution of the Euro-American west. The dignity of a funeral is not even on the program. What we’ve got now with[...]
Interconnected Banks Pose Greatest Threat to U.S. Financial System
By Pam Martens and Russ Martens: February 17, 2015 Last Thursday, the Office of Financial Research (OFR), part of the Federal boondoggle created under the Dodd-Frank financial reform legislation in 2010 to foster the illusion that the government was reining in risk on Wall Street, released a new study showing almost unfathomable levels of systemic and interconnected risk among the[...]
Why The Price Of Oil Is More Likely To Fall To $20 Rather Than Rise To $80
By Michael Snyder, on February 15th, 2015 This is just the beginning of the oil crisis. Over the past couple of weeks, the price of U.S. oil has rallied back above 50 dollars a barrel. In fact, as I write this, it is sitting at $52.93. But this rally will not last. In fact, analysts at the big banks are warning that we could soon see U.S. oil hit the $20 mark. The reason for this is that the[...]
THE CURRENCY WARS ARE BAD NOW, BUT CHINA WILL SOON MAKE THEM EVEN WORSE
Investors know the currency wars are raging in the West and Japan with beggar-thy-neighbor devaluations by Sweden, Denmark, Canada and many others. But the heavyweight – China – has been unusually quiet lately. Click here to see why that’s about to change. Look for China to jump back into the currency wars soon. [...]
Setting the Stage for the One World Currency – Martin Armstrong
By Martin Armstrong We can start to see how the one-world currency comes into play with BIG BANG. The more these governments try to manipulate the outcome of the free markets, the worse everything becomes. I met with members of the board in charge of the Swiss/Euro Peg just before the Berlin Conference. I explained that no peg has ever lasted and Bretton Woods stands as witness to that in recent [...]
Central Banks Are Boosting Their Gold Reserves – Bloomberg
by Eddie Van Der Walt and Nicholas Larkin Excerpts from the full story.... (Bloomberg) -- Central banks purchased enough gold in 2014 to buy 75 Boeing Co. Dreamliners. Governments added 477.2 metric tons to their reserves, the second-biggest increase in 50 years and 17 percent more than a year earlier, the World Gold Council said in a report Thursday.... Central banks have added to gold[...]
Is Russia Planning a Gold-Based Currency?
February 6, 2015 Marcia Christoff-Kurapovna The “perfect-storm” of geopolitical instability, diplomatic isolation, severe currency depreciation, and economic decline now confronting Russia has profoundly damaged Moscow's international standing, and possibly for the long-term. Yet, it is precisely such conditions that may push the country’s leadership into taking the radical step that will[...]
Two More Harbingers Of Financial Doom That Mirror The Crisis Of 2008
By Michael Snyder, on February 12th, 2015 The stock market continues to flirt with new record highs, but the signs that we could be on the precipice of the next major financial crisis continue to mount. A couple of days ago, I discussed the fact that the U.S. dollar is experiencing a tremendous surge in value just like it did in the months prior to the financial crisis of 2008. And previously, I [...]