The world was slow to wake up to the new reality in which China is now the de facto IMF sovereign backstop, as Zero Hedge described two weeks ago in "China Prepares To Bailout Russia" when we noted that a PBOC swap-line was meant to reduce the role of the US dollar if China and Russia need to help each other overcome a liquidity squeeze, something we first noted over two months ago in "China,[...]
Tag: Economic Crisis
Just What Is China Buying?
Something strange is going on in China. On one hand, as the chart below shows, China's trade surplus is growing and growing, and just hit record highs. In other words, China is - on paper - receiving record amounts of foreign currencies in exchange for its (mostly) goods exports. That much is clear in the Chinese (record) trade balance chart below: Yet on the other hand, a chart from Deutsche [...]
Top Asian Hedge Fund Manager Predicts Banner Year For Gold In 2015
Stocks surged while oil and gold gave up early gains after the decision by the Fed to drop the "Considerable time" pledge on interest rates. King World News reached out to one of the top hedge fund managers in Asia to get his take on what has transpired and what to expect in 2015. Eric King: "Bill, what should people expect to see as we head into the end of this year and what about[...]
17 Reasons Why I Trust Silver – GE Christenson
War and Inflation – 3 reasons: · From Ernest Hemingway: “The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.” This was true before WWII and is just as true now. · There are reports of a train load of American tanks passing[...]
Americans are 40% Poorer than Before the Recession
By Quentin Fottrell The Great Recession is officially over, but Americans are still 40% poorer today than they were in 2007, the year before the global financial crisis. The net worth of American families — the difference between the values of their assets, including homes and investments, and liabilities — fell to $81,400 in 2013, down slightly from $82,300 in 2010, but a long way off the[...]
Bankers Want Your Savings As Part of Their Next Bail-Out
Keep a close eye on what savings you have left. The financial honchos have plans for your money. Ellen Brown, who writes at The Web of Debt is the only blogger that I am aware of who writes about the neoliberal machinations related to preparing for the next giant bank crashes. In a recent post she describes the latest plan adopted by the G20 nations. I believe this is crucial information for[...]
Yes, It’s Possible for a Gold-Backed Renminbi to Dethrone the Dollar
by Tim Price on December 15, 2014 [Sovereign Man Editor’s note: This letter was written by Tim Price, London-based wealth manager and editor of Price Value International.] “[W]e want to use our reserves more constructively by investing in development projects around the world rather than just reflexively buying US Treasuries. In any case, we usually lose money on Treasuries, so we need to[...]
Savings Accounts are at Risk as Long as JP Morgan CEO Gets Everything He Wants
The CEO of America’s biggest bank, JP Morgan, appears to have Washington at his beck and call but is his push to repeal a key financial safeguard a step too far? COMMON SENSE ACTION - OWN PHYSICAL PRECIOUS METALS HELD IN A NON-BANK DEPOSITORY...AWAY FROM THE WALL STREET PLUNDERERS. If you want to understand what’s wrong with the US financial system, start by asking this question: why does[...]
The Devastation Of America’s Working Class
After years of exposing, month after month, the truth about the US labor market - its conversion into a part-time (in 2010!), low-paying job market where Millennials refuse to work (as the job market reality is gruesome so instead they opt to load up on record amount of student loans) and where older Americans, instead of enjoying retirement are forced right back into the labor force leading to[...]
Fairytales from the Federal Reserve: 15 Reasons Fed Policies Belong in Fantasyland
By James Rickards Don’t ever think for a minute that the central bankers know what they’re doing. They don’t. And that’s my own view, but I’ve heard that recently from a couple central bankers. I recently had spent some time with one member of the FOMC, the Federal Open Market Committee, and another member of the Monetary Policy Committee of the Bank of England, which is the equivalent [...]