Today billionaire Eric Sprott warned King World News that as entities are being wiped out overnight, Western central banks are nearing the point of total surrender. This interview takes a trip down the rabbit hole of desperate central banks coming to the realization that it's nearly game over. Eric Sprott: “I find it very ironic that the most volatile asset class these days is currencies. This [...]
Tag: depression
If Prices are Collapsing, Then Why is GOLD GOING UP?
January 20, 2015 by Jay Taylor Most people have been trained by the Keynesian propagandists to think of gold as just another commodity. Gold is not a commodity. It is money! And that is why, as anxiety increases now about the global monetary system, gold is on the rise even as commodities plummet. The inverted pyramid shown on your left is a concept created by the brilliant monetary economist[...]
Evidence Grows Showing Wall Street as a Negative Economic Force
By Pam Martens and Russ Martens: January 27, 2015 Earlier this month, Jim Clifton, Chairman and CEO of Gallup, published a stunning indictment of Wall Street as a job creating engine. Clifton reported that the U.S. now ranks 12th among developed nations in business startups with countries such as Hungary and Italy having higher startup rates. Of equal concern writes Clifton, “American business [...]
The Shemitah: The Biblical Pattern Which Indicates That A Financial Collapse May Be Coming In 2015
Does a mystery that is 3,500 years old hold the key to what is going to happen to global financial markets in 2015? Could it be possible that the timing of major financial crashes is not just a matter of coincidence? In previous articles on my website, I have discussed some of the major economic and financial cycle theories and their proponents. For example, in an article entitled “If Economic[...]
When A Soaring Dollar “Reflects Loss Of Investor Confidence And Is Potentially Devastating”
For all those following the relentless rise in the USD and assuming this is a great thing for global markets, here is a must read take from SocGen's Kit Juckes. * * * GOOD DOLLAR, BAD DOLLAR The ECB is buying more bonds than expected, and from longer maturities. ECB President Mario Draghi was almost scornful of concerns about the lack of burden-sharing in the event of losses. Equities rallied, [...]
Fighting the Business Cycle – Longest War in History: Martin Armstrong
by Martin Armstrong The one war that never ends is how people constantly try to fight the trend. The ECB will buy bad government debt they created instead of doing what was necessary from the start – consolidate all state debt. That would have enabled the Euro to be a viable currency creating a reserve base that does not exist today. Instead, leaving each country with its own debt that was[...]
A Perfect Storm: Brace Yourself for an Epic Economic Meltdown
By James Rickards Over the coming months, I believe we could see an economic meltdown at least six times the size of the 2007 subprime mortgage meltdown. Circumstances lead me to believe it could play out like the meltdown I experienced in 1998 after Long-Term Capital Management (LTCM) failed. This time, however, there will be several crucial differences that will leave investors and[...]
Will China Be the Next Forex Peg to Break?
January 19, 2015 By Craig Stephen HONG KONG (MarketWatch) — The surprise move by Switzerland to scrap its currency ceiling against the euro last week is a reminder there can be unexpected collateral damage from central banks waging currency wars. As markets digest last week’s turmoil, expect focus to turn to other fault lines on the global currency map. Here China stands out, as like the[...]
The Fix is In: Why Gold Price Manipulation is Now a Global Effort – Rickards Commentary with Video
By James Rickards A lot of people think about gold as a percentage of total reserves. So countries have reserves. What percentage of your reserves consist of gold? For example, a lot of people are surprised to learn that the United States has 70 percent of its reserves in gold. China has about 1 percent of its reserves in gold. So people look at that and think that’s the imbalance. But[...]
Inside the December Retail Report: “Disappointing” Isn’t the Half of It
by David Stockman Today’s 0.9% decline in December retail sales apparently came as a shock to bubblevision’s talking heads. After all, we have had this giant “oil tax cut”, and, besides, the US economy has “decoupled” from the stormy waters abroad and is finally on its way to “escape velocity”. The Wall Street touts and Keynesian economic doctors have been saying that for months [...]