As Germany is set to reject a Greek loan extension request (and no, international press, that is not the same as an extension of the bailout program), Steve Keen uses proprietary numbers issued by the OECD – which is supposed to be on Germany’s side?! – to show how dramatically austerity has failed in Europe- that is, if the recovery of the Greek and Spanish economies was ever the real[...]
Tag: economic collapse
Why Gold is a Better Bet than Oil – Especially for the Next 5 Years – MarketWatch
By Cody Willard I've been saying for a while now that I don't see any reason to try to game a bottom, or any type of trade for that matter, in oil/energy. We've made a lot of money and avoided a lot of heartache over the years sticking with our strategies. Unless oil drops to like, say, $20 a barrel and there's a wave of bankruptcies in the sector where we could go in and buy the survivors, I'm [...]
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. [...]
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[...]
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 [...]
Richard Russell Warns Global Crisis To Get Worse – Sell All Stocks And Buy Gold & Silver
As the world continues to digest breaking news out of Greece, today the Godfather of newsletter writers, 90-year old Richard Russell, warned that the global crisis will get even worse, so investors need to dump all common stocks and buy gold and silver. Russell also discussed why even tougher times are still ahead for the world. Richard Russell: “I had expected an upside blow-off to occur,[...]
“Slowly But with Determination the Petro Dollar Comes Under Attack. I Guess Full on War with Russia is Now Inevitable.” – Jim Sinclair
Moscow & Cairo to drop USD, use national currencies in bilateral trade – Putin Published time: February 08, 2015 23:10 Russia and Egypt might soon exclude the US dollar and use their national currencies in the settlement of accounts in bilateral trade, Russian President Vladimir Putin said in an interview to Egyptian media ahead of his Monday visit to the country. READ MORE: [...]
If You Listen Carefully, The Bankers Are Actually Telling Us What Is Going To Happen Next
By Michael Snyder, on February 9th, 2015 Are we on the verge of a major worldwide economic downturn? Well, if recent warnings from prominent bankers all over the world are to be believed, that may be precisely what we are facing in the months ahead. As you will read about below, the big banks are warning that the price of oil could soon drop as low as 20 dollars a barrel, that a Greek exit from[...]
Marc Faber Warns “Frankenstein” Global Financial System To Collapse
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:[...]