Russia's central bank added to its reserves of bullion in the third quarter, according to the latest report from the World Gold Council Russia has taken advantage of lower gold prices to pack the vaults of its central bank with bullion as it prepares for the possibility of a long, drawn-out economic war with the West. The latest research from the World Gold Council reveals that the Kremlin[...]
Tag: PMC Ounce
ISIS Unveils Its New Gold-Backed Currency To Remove Itself From “The Oppressors’ Money System”
It appears the rumors are true. Islamic State is set to become the only 'state' to back its currency with gold (silver and copper) as it unveils the new coins that will be used in an attempt to solidify its makeshift caliphate. ISIS says the new currency will take the group out of "the oppressors' money system." As Zaid Benjamin notes, ISIS releases details of its new currancy with golden 1 [...]
Here’s What Central Bankers Will Do Next
by Bill Bonner Worse Off We’ve been meaning to write about what hasn’t happened yet. Not that we claim any knowledge of tomorrow or the day after. But we can look at the present. And here’s a guess about where it might lead. The middle classes – aka “the voters” – expressed themselves last week. They have been sorely used and they know it. The biggest money-fabricating program of[...]
Putin Is About To Rock The Gold, Oil & Currency Markets
from King World News Today a legendary trader and investor, who recently called the bottom in the U.S. stock market with remarkable precision, gave King World News a stunning interview where he laid out exactly how Russian leader Vladimir Putin is about to rock the gold, oil, and currency markets. Victor Sperandeo has been in the business 45 years, and has worked with famous individuals such as[...]
The Shocking Way Central Planning Destroys Your Wealth
by Bill Bonner The economists who set out do to central planning, if they were in a small village, they could organize traffic by central planning. They could say, “Mr. Jones takes his car on this road at 4:00 in the afternoon, and then he’ll be over, finished, by 4:30. So then Mrs. Smith can go this way on this road, and she won’t hit him. And then the bus can pass here at 5:30,” and so [...]
Europe: the storm clouds are gathering once more
Britain faces five more years of austerity, and Europe’s woes will only increase the pain By Jeremy Warner For many people in Britain, Jean-Claude Juncker represents all that is worst about the European Union – arrogant, complacent, instilled with an unshakeable belief in the manifest destiny of ever closer union, and apparently anti-British to boot. Yet everyone has at least one[...]
China hoarding gold to challenge U.S. dollar? – USA Today
by Eric McWhinnie, The Cheat Sheet USA Today In a world filled with fiat currencies, how important is gold’s role in the financial system? Proponents often view the precious metal as a hedge against economic chaos, while critics typically claim gold is hardly more than an unproductive rock. Interestingly, some countries appear to believe gold is quite important, and one former Fed chair[...]
US Economic Growth is All an Illusion
by John Crudele New York Post As voters were coming out of the polls on Tuesday, pesky reporters were asking why they voted the way they did — and what was going through their heads? The most popular response — from 45 percent of the voters — was the economy. Only 28 percent said their families were doing better financially. The economy is always the major issue in an election during[...]
Central Planners Are In A State of Panic – Japan’s Black Swan Flaps its Wings
by Chris Martenson The central planners are in a state of fear and panic. They are trying everything and anything to create market validation for their policies, watching with trepidation as their favored economic metrics fail to respond to all of their frenzied efforts. They are so far over the tips of their skis right now that there's nothing they won't do. They've summarily thrown granny[...]
Why Matt Taibbi Thinks This Woman Is JPMorgan’s “Worst Nightmare”
In reality, there is nothing surprising in Matt Taibbi's latest piece since returning to Rolling Stone from the Intercept, as it tells a story everyone is by now is all too familiar with: a former bank employee (in this case Alayne Fleischmann) who was a worker in a bank's (in this case JPM) mortgage operations group, where she observed and engaged in what she describes as "massive criminal[...]