But bungling badly as it does by Chris Martenson Chris Martenson’s Peak Prosperity There’s something we ‘regular’ citizens wrestle with that the elites never seem to: a sense of moral duty. For example, following the collapse of the housing bubble, many people struggled with mortgages they could no longer afford to pay, fearing the shame of default. Many believed defaulting was wrong[...]
Tag: palladium
Nassim Taleb: Here’s What People Don’t Understand About Ebola
Shane Ferro Oct. 17, 2014, 4:43 PM Multiplication — that’s what people don’t understand about Ebola, according to Nassim Taleb, the author of "Fooled by Randomness" and "The Black Swan." More specifically, Taleb explained to Business Insider that many people talking about the disease don’t "have a grasp of the severity of the multiplicative process." The argument that the US should be[...]
Russians and Chinese are Ditching the Dollar as Europeans Start Using Renminbi in Their Reserves
by Simon Black on October 17, 2014 New York, USA At present, US dollar accounts for roughly 61% of the world’s foreign exchange reserves. It’s still a safe bet for most, not because the currency is actually strong, but because so many others are already so reliant on it. Between those with reserves in and pegs to the US dollar, many countries have given their allegiance, and now have a[...]
Why Nations (and organizations) Fail: Self-Serving Elites
by Charles Hugh Smith For those who doubt that America is ruled by a narrow elite: three charts. The book Why Nations Fail: The Origins of Power, Prosperity, and Poverty neatly summarizes why nations fail in a few lines: (A nation) is poor precisely because it has been ruled by a narrow elite that has organized society for their own benefit at the expense of the vast mass of people. Political [...]
Fund Manager Warns Another Banking Crisis May Be Imminent- “Something Nasty is Going on Behind the Scenes”
Something nasty is going on behind the scenes in the financial system that is not yet apparent. Treasury futures opened in the early evening and the 10-yr traded down to 2.25%. Something has the market incredibly spooked and I find it interesting that the U.S. Treasury Secretary and the UK’s equivalent will be running a big bank fail simulation test next week. The movement in 10-yr Treasury[...]
World Economy So Damaged it May Need Permanent QE
Markets are realising that the five-and-a-half year recovery since the financial crisis may already be over, says Ambrose Evans-Pritchard by Ambrose Evans-Pritchard Telegraph.co.uk Combined tightening by the United States and China has done its worst. Global liquidity is evaporating. What looked liked a gentle tap on the brakes by the two monetary superpowers has proved too much for a fragile[...]
A Win-Win Scenario for Gold Investors – Their Time Has Come
Volatility and price drops may be nerve wracking, but the bull market in gold is far from over. In fact, it has barely begun. To understand why, it helps to look at two prior episodes in the relationship of gold and money that are most relevant to today. These episodes were a period of extreme deflation, the 1930s, and a period of extreme inflation, the 1970s. History shows that gold does well[...]
Why Is the Put-Call Ratio (Fear Gauge) Higher Than in the Lehman Collapse of 2008?
by Charles Hugh Smith - October 14, 2014 The rising fear may reflect a shift in sentiment from faith in the omnipotence of central banks to skepticism. Editors Note - The US Dollar is strictly a faith based currency "full faith and Credit." Once this delusion is lost, life in the US enters a realm unimagined by the unprepared masses...and precious metals go to the moon. By at least one[...]
Is This The Start of The Long-Awaited Correction or Something Even Worse?
U.S. stocks sold off sharply last week, continuing the rout that began in late-September. Since the market’s peak, the SP500 fell 5.6 percent, the Dow lost 4.7 percent, and the Nasdaq Composite dropped 7.3 percent. A panoply of concerning factors combined to send jitters through the global financial markets over the past month: Tightening U.S. monetary policy (the end of QE3 and upcoming Fed[...]
“Prepare For Runs”, IMF Warns Policymakers Of “Elevated Financial Stability & Liquidity Risks”
The extended period of monetary accommodation and the accompanying search for yield are leading to credit mispricing and asset price pressures, increasing the chance that financial stability risks could derail the recovery. Concerns have shifted to the shadow banking system, especially the growing share of illiquid credit in mutual fund portfolios. Should asset markets come under stress, an[...]