from King World News On the heels of increased geopolitical tensions, particularly in Ukraine, and the Greeks manevering to avoid default, today legendary Marc Faber warned King World News that the “Frankenstein” global financial system is going to collapse. Eric King: “There are over one quadrillion dollars of derivatives that could melt down the global financial system.” Marc Faber:[...]
Tag: crash
The Dollar Will Die with a Whimper, Not a Bang – James Rickards
The same force that made the dollar the world’s reserve currency is working to dethrone it. July 22, 1944, marked the official conclusion of the Bretton Woods Conference in New Hampshire. There, 730 delegates from 44 nations met at the Mount Washington Hotel in the final days of the Second World War to devise a new international monetary system. The delegates there were acutely aware that the [...]
Big Bang is Clearly in Play – Dominoes Starting to Fall in Debt Markets
by Martin Armstrong Armstrong Economics Just in case if you have not seen this, Big Bang is clearly in play. The dominoes are starting to fall! Obviously, bearish for the Euro broader-term, but will be interesting to see how the peripheral debt trades tomorrow. The ECB Press release emerged on a waiver of collateral regarding Greek Bonds. The Governing Council of the European Central Bank (ECB) [...]
Optimism vs Pessimisim – Martin Armstrong
by Martin Armstrong Armstrong Economics There is little doubt that we live in interesting times. However, it is not always doom and gloom. What you have to understand is there will never be any change or reform without the doom and gloom. We have to crash and burn in order to create what Joseph Schumpeter called Waves of Creative Destruction. [...] There was the Great Depression, which everyone [...]
Fed President Drops a Bombshell Yesterday: Fed Removed QE3 Too Soon
by Pam Martens and Russ Martens Wall Street on Parade The monetary policy arm of the U.S. central bank, the Federal Open Market Committee (FOMC), is getting hammered this week. On Monday, two researchers at the Federal Reserve Bank of San Francisco chastised the FOMC for effectively wearing rose-colored glasses since 2007 and getting the rate of economic growth mostly dead wrong. (More on that[...]
Lies, Damned Lies, and Central Bank Forecasts – James Rickards
by James Rickards Daily Reckoning The most dramatic battle yet in the currency wars took place last month. It was the financial equivalent of a Pearl Harbor sneak attack… “I find it a bit surprising that he did not contact me,” IMF Director Christine Lagarde told CNBC’s Steve Liesman that day, “but, you know, we’ll check on that.” You can almost imagine the conversation[...]
Is Real Estate Really Real? – Ownership Can Be Ephemeral
by Ramsey Su Acting Man Deflation is upon us. There is excess capacity in everything far in excess of demand. Every Central Bank in the world is devaluing its currency. The US alone added over $4 trillion to the Fed’s balance sheet. Abe has been going hog wild in Japan during the last two years. Euroland is finally joining us with a “me too” QE. Under these circumstances, it should be a[...]
The World Is Now Facing The Most Frightening And Dangerous Crisis In Modern History
from King World News With continued uncertainty in global markets, today a 50-year market veteran warned King World News that the world is now facing the most frightening and dangerous crisis in modern history. He warned people not to listen to the mainstream media, which is pleading with the public to “stay the course.” John Embry: “Gold and silver prices had a spectacular day on Friday, [...]
Legendary Felix Zulauf’s Frightening Warning – World to Experience 5 Years of Brutal Crisis and Chaos
Today one of the legends in the busines, Felix Zulauf, issued a frightening warning to King World News that the world is going to experience 5 years of brutal crisis and chaos. The 20-year Barron’s Roundtable panelist also issued a dire warning about what to expect in the coming 5-year period of intense crisis and chaos. Felix Zulauf: “We have zero percent interest rates in Europe. We have[...]
Russia Increases Gold Purchases by 123%
from Russia Today The Central Bank of Russia bought a record amount of gold in the first 11 months of 2014 spending an estimated $6.1 billion. Increasing gold reserves attempts to reduce dependence on the dollar amid geopolitical tension, Mark O’Byrne of GoldCore, told RT. Russia’s gold purchases accounted for a third of the world’s total of 461 tons, according to research by Thomson[...]